World Economics provides the earliest macro data each month showing the on-the-ground reality in the worlds three biggest growth markets which together currently generate two-thirds of all global growth. And much more., World Economics, World Economics Industrial production refers to the output of industrial establishments and covers sectors such as mining, manufacturing, electricity, gas and steam and air-conditioning. This indicator is measured in an index based on a reference period that expresses change in the volume of production output. The PMI ® is a composite index based on the diffusion indexes of five of the indexes with equal weights: New Orders (seasonally adjusted), Production (seasonally adjusted), Employment (seasonally adjusted), Supplier Deliveries (seasonally adjusted), and Inventories.