Production, or manufacturing, is a branch of industry. Technically speaking, it is the application of tools and a processing medium to the transformation of raw materials into finished goods for sale. This includes all processes required for the production and integration of a product’s components. Some industries, such as semiconductor and steel manufacturering, use the term fabrication instead. The manufacturing sector is closely connected with engineering. Manufacturing accounts for about one quarter of the world?s economic activity.
Industry, as an uncountable noun, generally refers to the manufacturing sector of the economy. However, with a qualifying adjective in front, industry is countable and can refer to any sector of the economy, for example the fashion industry, the TV industry, or the advertising industry.