Industrial production definition
Industrial production is a measure of the output of the industrial sector of an economy. The industrial sector includes manufacturing, mining, utilities (like gas and electricity), and, at times, construction output.
Industrial production is calculated over a period by recording the change in the volume of output produced.
The industrial production index explained
The industrial production index (IPI) is published each month in the US. It is a monthly economic index evaluating the total output in the manufacturing, mining, electric, and gas industries.
The IPI is published by the Federal Reserve Board (FRB), usually in the middle of the month. The Conference Board think tank then issues a report on the index.