Industrial Production is an economic indicator that reports the total value of a country or economic region’s industrial output (adjusted for inflation). The figures take manufacturing, mining and utilities into account. Industrial output is a valuable indicator because it is closely correlated with other areas such as employment, earnings and consumer confidence. It is considered a coincident indicator due to production being so sensitive to changes in demand. When the figures come in higher than expected they tend to have a positive effect on a country’s currency value.