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The methodology used by the Industrial Production Index is extremely problematic. Any index that uses Fisher price indexes introduces huge amounts of subjectivity. For instance, the decision to use an "overlap method" rather than a "direct comparison method" is subjective ( http://en.wikipedia.org/wiki/Fisher_index ). Choosing one method rather than the other can dramatically alter the resulting index. The result is that the index ends up replicating the assumptions and opinions of the index creators.



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