http://www.federalreserve.gov/releases/g17/IpNotes.htm http://www.federalreserve.gov/releases/g17/IpNotes.htm * Inflation > (1) output measured in physical un

http://www.federalreserve.gov/releases/g17/IpNotes.htm http://www.federalreserve.gov/releases/g17/IpNotes.htm * Inflation > (1) output measured in physical units * Overcapacity I'm not even sure what you're claiming as a problem with the IP index here; it measures actual production, while there are entirely separate indices for Capacity (and Capacity Utilization). See http://www.federalreserve.gov/releases/g17/CapNotes.htm http://www.federalreserve.gov/releases/g17/CapNotes.htm * Transfer pricing Again: > (1) output measured in physical units The people who put these indices together are, surprisingly enough, professionals who have thought about these issues.