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FEDERAL press RESERVE release 'Ujr. For immediate release 04/ August 16, 1973 VCLV v.^ ^ * * * tf c<5> Industrial production increased 0.7 per cent further in July following an upward revised 0.5 per cent increase in June. At 126.3 per cent of the 1967 average, the total index was 9.7 per cent above a year earlier.* Largest gains in output in July were in industrial materials, but consumer goods and business equipment also continued to rise further. Auto assemblies were at ^n annual rate of 10.3 million, slightly above the June rate. August production schedules indicate little change from the June-July level after allowance for model changeover. Output of carpeting and furniture and some household goods rose further and production of appliances and television sets were maintained at advanced levels, while most nondurable consumer goods continued to increase. Production of business equipment advanced further in July and was 16.7 per cent above a year earlier. Output gains in July included most equipment industries but production of trucks were close to capacity levels and showed littler further change in output. Aircraft output continued depressed. Among industrial materials, production of steel as well as other durable goods materials continued strong as did output of the textile, paper, and chemical materials groupings. Industrial production has been revised back to March 1972, incorporating revisions in seasonal adjustment factors and in levels of some important individual series on the basis of the more complete information now available. The level of the total index now shows the industrial production to have increased at a faster pace—9 0 7 per cent for the year ending with the second quarter of 1973 compared with a rise of 9.1 per cent for the unrevised index. All three major groupings--consumer goods, business equipment, and industrial materials—have been revised upward. ***+. - 2 - INDUSTRIAL PRODUCTION (1967=100, seasonally adjusted) 1972 July _ May 1973 pJune eJuly _ Per cent change May to Month Year June ago ago Total index Market groupings: Final products Consumer goods Business equip. Materials 115.1 124.8 125.4 126.3 .5 111.6 123.3 105.5 117.8 120.8 131.4 121.3 127.7 121.2 131.5 122.7 129.2 122.0 132.2 123.1 130.2 .3 .1 1.2 1.2 .7 .5 .3 .8 Industry groupings: Manufacturing Durables Nondurables Mining & utilities 114.3 108.8 122,5 124.0 124.9 121.7 129.9 126.8 125.2 122.5 129.3 126.8 126.6 123.9 130.4 127.7 .2 .7 1.1 1.1 .9 .7 - .5 0 9.7 9.3 7.2 16.7 10.5 10.8 13.9 6.4 3.0 INDUSTRIAL PRODUCTION Per cent changes from preceding period, annual rates Total index Market groupings: Final products Consumer goods Business equipment Materials Industry groupings : Manufacturing Durables Nondurables Mining & utilities Year ending QII 1973 QIV 1972 QI 1973 QII 1973 9.7 13.4 9.7 5.5 9.0 7.1 10.7 9.1 5.0 3.1 16.8 10.5 12.4 10.0 21.2 13.4 17.0 11.2 9.4 6.7 10.8 14.1 13.5 18.5 10.0 12.5 6.7 2.8 6.8 4.5 7.3 3.2 6.9 9.8 3.8 -2.5 This release, G.12.3, combines data that was previously shown separately in the G.12.2 and G.12.3.
@FedFRASER