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TeachMeFinance.com - explain Industrial production Industrial production The Federal Reserve Board calculates this index by compiling indices of physical output from a variety of agencies and trade groups, weighting each index by the Census' value added, and adding it to the cost of materials. When physical measures are not available, the Federal Reserve Board uses the number of production workers or amount of electricity consumed as the basis for the index. To convert industrial production into dollars, multiply by the "real value added" estimate used by the Federal Reserve Board. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.