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FEDERAL RESERVE statistical release
G.17 (419) 2009 Annual Revision

For release at 2:00 p.m. (EDT)
March 27, 2009

Industrial Production and Capacity Utilization: The 2009 Annual Revision

The Federal Reserve has revised the index of industrial production (IP) and the related measures of
capacity and capacity utilization. Although rates of change from January 1972 through February 2009 are
affected, the revision has its largest impact on data in 2007 and 2008. The overall contour of total IP is little
changed by the revision: The index posted moderate increases from 2004 through 2007 but declined sharply in
2008. Relative to earlier estimates, measured from fourth quarter to fourth quarter, total IP is now reported to
have increased 0.3 percentage point more slowly in 2007 and to have decreased 0.5 percentage point more
rapidly in 2008; the index for February 2009 now stands about 1 percent below its previously published level.
The revision shows that the rates of capacity utilization for total industry in the fourth quarters of 2007
and 2008 were about 1/2 percentage point lower than previously estimated. At 74.3 percent, overall utilization in
the fourth quarter of 2008 was 6.6 percentage points below its 1972–2008 (long-run) average.
The revision to IP incorporates new data from the following sources: manufacturing data from selected
2007 Current Industrial Reports from the U.S. Census Bureau, annual data on the publishing industry from the
Census Bureau’s Services Annual Survey, new annual data on mineral extraction for 2006 and 2007 from the
U.S. Geological Survey (USGS), annual data on logging for 2007 from the U.S. Forest Service, the 2002
input-output tables from the Bureau of Economic Analysis (BEA), and updated price deflators from the BEA.
Comprehensive benchmark data for manufacturing for 2007 are not yet available. The results of both the 2007
Census of Manufactures and the 2008 Annual Survey of Manufactures (both from the Census Bureau) should be
available for the 2010 revision to the IP indexes. Results from the 2007 and 2008 Quarterly Surveys of Plant
Capacity, however, were used to augment the regular monthly production indicators in the revised production
indexes for those years. The new monthly production estimates also reflect the incorporation of updated seasonal
factors and monthly and quarterly source data that became available (or were revised) after the closing of the
reporting window.
The revised capacity utilization rates incorporate the results from the Census Bureau’s Quarterly Survey
of Plant Capacity for the fourth quarters of 2007 and 2008. In addition, the revisions to the capacity indexes and
capacity utilization rates incorporate the revised production indexes and newly available data on industrial
capacity from the USGS, the Energy Information Administration of the U.S. Department of Energy (DOE), and
other organizations.
RESULTS OF THE REVISION
The tables show the summary statistics for the annual revision. Tables 1A and 1B show the monthly,
quarterly, and annual average index levels for IP and for capacity and utilization for January 1979 through
February 2009, along with percent changes in IP and capacity utilization rates. Tables 2 and 3 show the revised
rates of change in IP from 2004 through 2008 for market groups, industry groups, special aggregates, and
selected detail. Table 4 shows the revised annual rates of change in IP for the 2004–08 period for selected detail,
and table 5 shows the rates of change in capacity by industry groups for the 2005–09 period. Tables 2 through 5
1

also show the difference between the revised and earlier rates of change. Table 6 shows the revised capacity
utilization rates for the final quarters of 2005 through 2008 and the differences between the revised and previous
rates. Tables 7A, 7B, 8A, 8B, 9A, and 9B report the revised production, capacity, and utilization series for
manufacturing, total industry excluding selected high-technology industries, and manufacturing excluding
selected high-technology industries. Table 10 reports the annual proportions in IP by market and industry groups
for 2001 through 2008. Table 11 reports revised IP indexes and capacity utilization rates for the major market
and industry groups for the most recent six months.
Industrial Production
The changes in total IP were revised slightly for 2007 and 2008 (table 2), but the overall contour for
recent years was little changed—moderate gains for 2004 through 2007 are still followed by a drop in the index
in 2008.1 Compared with the previous estimates, the increase in output in 2007 is now reported to have been
slower, and the decline in 2008 is now reported to have been faster.2 The increases for 2004 through 2006 are
little changed.
Production by Industry Group
Manufacturing production expanded, on net, during the 2004–07 period, albeit at a somewhat slower rate
than initially reported, before contracting in 2008.3 For durable goods industries as a whole, output rose in each
year from 2004 through 2007, although these gains have been moderated by the recent revision. Durable goods
output fell sharply in 2008, and that drop was little changed, on net, compared with the previous estimate. For
the 2004–06 period, the revisions to output in most durable goods industries were relatively modest, with the
exception of computer and electronic products, in which the gain in output in 2006 is now stated to have been
significantly lower. Relative to previous estimates, the current revision reports noticeably lower output indexes in
2007 for wood products, nonmetallic mineral products, computer and electronic products, and furniture and
related products but it reports a noticeably higher output index in 2007 for miscellaneous durable goods. For
2008, relative to previous estimates, higher output indexes are reported for electrical equipment, appliances, and
components and for furniture and related products, but the production indexes for wood products, primary
metals, machinery, and computer and electronic products were revised down moderately.
Production in nondurable manufacturing industries advanced in every year from 2004 through 2007 but
fell sharply in 2008. Within the nondurable goods sector, output in most recent years was little changed, on net,
compared with previous estimates. The current revision reports noticeably higher rates of change in 2007 in
textile and product mills, apparel and leather, and petroleum and coal products but a noticeably lower rate of
change in chemicals. For 2008, output is now reported to have fallen markedly faster for apparel and leather,
printing and support activities, chemicals, and plastics and rubber products compared with previous estimates.
The revised output index for non-NAICS manufacturing (logging and publishing) fell each year from
2005 through 2008, with a particularly sharp drop in 2008. The rate of change for these industries in 2006 is
substantially higher than stated earlier, but revisions to the rates for other years were smaller. The index for
mining rose modestly in the past two years after a jump in 2006; the increase in 2006 was revised up relative to
previous estimates, but the index is otherwise similar to what was previously reported. The index for utilities is
also nearly unchanged from previous estimates, with the exception of 2008, for which the index now shows a
small decline rather than a small advance.
1 In this section, all the rates of change are calculated from the fourth quarter of the previous year to the fourth quarter of the reference year. Estimates for the fourth
quarter of 2008 are subject to further revision in the upcoming monthly releases.
2 The downward revision to overall IP in 2008 primarily reflects changes to the underlying indexes, but more than 0.1 percentage point of the revision to the rate of
change resulted from updating the weights for energy goods to reflect the drop in energy prices in mid-2008.
3 Manufacturing consists of those industries in the North American Industry Classification System, or NAICS, definition of manufacturing plus those industries—
logging and newspaper, periodical, book, and directory publishing—that traditionally have been considered to be manufacturing.

2

The estimates for selected high-technology industries—computers and peripheral equipment,
communications equipment, and semiconductors and related electronic components—had sizable revisions over
the 2004–08 period (table 3). On net, output in the high-tech sector is still reported to have posted gains in recent
years, with robust increases from 2004 through 2007 followed by a moderate contraction in 2008. However, the
increases in 2006 and 2007 are now shown to have been slower, and the decrease in 2008 is now shown to have
been more rapid, than reported earlier. The index for computers and peripheral equipment rose in each of the
years from 2004 through 2007 and then fell in 2008; the rates of change were revised up in each of the past few
years except 2005. The output of communications equipment expanded in each of the past few years, but the
rates of increase in most years are markedly lower than estimated previously, particularly in 2007. Production of
semiconductors and related components rose solidly from 2004 through 2007 but contracted significantly in
2008; the rates of change in 2004, 2006, 2007, and 2008 are notably lower than formerly reported, and the rise in
2005 is now higher.
Production by Market Group
The production index for final products and nonindustrial supplies (table 2) posted moderate gains from
2004 through 2007 and then fell markedly in 2008. The rates of change in the index are a bit lower than
previously reported for 2007 and 2008 but are little changed for previous years.4
The production of consumer goods rose modestly in 2004 and 2005, was almost unchanged in 2006 and
2007, and then moved down significantly in 2008. Compared with previous estimates, output was revised down
noticeably in 2007; the revisions to other recent years were much smaller. The output of durable consumer goods
fell slightly, on net, from 2004 through 2007 and then dropped steeply in 2008; the rate of change was revised up
somewhat in 2006. Among durable consumer goods, the most significant revisions were in the index for home
electronics, which now increases less rapidly in 2005 and 2006, but more rapidly in 2004 and 2007; in 2008, the
index now posts an advance instead of a decline.
The index for consumer nondurables shows moderate gains in output for 2004, 2005, and 2006 and
modest contractions for 2007 and 2008. The index for consumer nondurable non-energy goods was nearly
unaltered in every year except 2007, which now shows a decline. In that year, significantly lower estimates of the
output of chemical products and of paper products more than account for the revision. The index for consumer
energy products was revised down in 2008 but still posted moderate increases, on net, over the past few years.
The production of business equipment increased solidly from 2004 through 2006, rose modestly in 2007,
and then deteriorated in 2008. Relative to previous estimates, the rate of change in the index was noticeably
lower in 2005 and 2007; the revisions to other recent years were smaller. For transit equipment, output rose
substantially, on net, from 2004 through 2006 and fell back in 2007; the index plummeted in 2008, partly because
of weakness in the motor vehicle industry and partly because of a strike at a major aircraft producer in the second
half of the year. The rates of change in the index for transit equipment were revised down in 2004, 2005, and
2008; were revised up in 2007; and were little changed in 2006. The production of information processing
equipment expanded in each year from 2004 through 2008. The increases in each year were revised down,
however, except in 2004 and in 2008, for which the index now posts an advance instead of a small decline. The
production of defense and space equipment is now estimated to have risen more slowly in 2004 and more quickly
in 2005 and 2007; the declines in 2006 and 2008 are now reported to have been smaller than stated previously.
After posting gains in 2004 and 2005, the output of construction supplies fell back in 2006 and 2007 and
then dropped sharply in 2008; relative to earlier estimates, the index decreased less in 2007. The production of
business supplies rose modestly from 2004 through 2007 and then slumped in 2008; this index now reports a
4 Although aggregate IP was little revised before 2007, some market groups had noticeable revisions. These revisions were often due to the incorporation of the 2002
input-output tables in the IP estimates, which changed the allocation of individual IP indexes among market groups.

3

small increase for 2006 instead of a small decline, and the rate of change in 2008 is weaker than previously
reported.
The index for materials moved up over the years 2004 through 2007, then fell markedly in 2008; the rate
of change in 2008 is now somewhat weaker than the previous estimate. The indexes for durable and nondurable
materials both fell more than 10 percent in 2008 after having increased moderately, on net, from 2004 through
2007. Relative to earlier estimates, over the 2004–08 window, the rates of change for the index for durable
materials are lower, on net, but the rates of change for the index for nondurable materials are higher overall. The
index for energy materials only edged up in 2008 after having increased moderately in the previous two years,
and it is little changed by the revision.
Capacity
Overall, total industrial capacity posted moderate gains from 2005 through 2008 but is expected to
decline in 2009 (table 5). The rates of change in both 2008 and 2009 were revised down noticeably from earlier
estimates, but revisions to earlier years were smaller. The contour of manufacturing capacity and the revisions to
that contour are similar to those for total industry. Aggregate capacity for the selected high-technology industries
rose in each year from 2005 through 2009; the revision shows that, relative to previous reports, capacity in these
industries rose less quickly in 2005, 2006, and especially 2008 but increased somewhat more rapidly in 2007 and
it is expected to rise in 2009. Excluding high-technology industries, manufacturing capacity expanded from 2005
through 2008 but is expected to decline in 2009. The current estimates are similar to previous reports except for
2009, for which the contraction in capacity is now anticipated to be greater than stated previously.
Capacity at mines is estimated to have fallen in 2005 and to have expanded from 2006 through 2008; it is
expected to recede somewhat in 2009. The gains in 2006 and 2008 are now reported to have been stronger than
previously published, but the rates of change in 2007 and 2009 have been revised down. Capacity at electric and
gas utilities has risen each year since 2004. The current estimates show quicker gains in 2005 and 2006 than
reported earlier; revisions to other recent years were negligible.
By stage of processing, capacity in the crude stage is now reported to have risen more in 2006 and 2008
than previously shown but is now expected to fall in 2009. The rates of change for capacity in the primary and
semifinished stages were revised down for 2008 and 2009; revisions to earlier years were slight. Relative to
previous estimates, increases to the index for finished goods processors were revised up in 2007 and 2008, but
capacity is expected to fall more in 2009 than stated previously.
Capacity Utilization
From 2005 through 2007, the capacity utilization rate for total industry stood a little below its long-run
(1972 to 2008) average of 80.9 percent but in 2008 fell to a level more than 6 1/2 percentage points below its
long-run average (table 6). The utilization rate for total industry was revised down noticeably in 2007 and 2008;
revisions to earlier years were slight. Similarly, manufacturing capacity utilization, on balance, spent 2005
through 2007 at a little below its long-run average of 79.6 percent and tumbled to 71.1 percent in the fourth
quarter of 2008, 8 1/2 percentage points below its long-run average.
Relative to earlier reports, the factory operating rate was revised down in 2007 and 2008. Within durable
goods, utilization rates for most industries were near their long-run averages from 2005 through 2007 and then
dropped well below average in 2008; an exception was motor vehicles and parts, in which the utilization rate was
significantly below average in 2006 and 2007 and then fell even further in 2008. In the fourth quarter of 2008,
three durable goods industries (nonmetallic mineral products, primary metals, and furniture and related products)
had utilization rates between 10 and 20 percentage points below their long-run averages, and two durable goods
4

industries (wood products, and motor vehicles and parts) had utilization rates more than 20 percentage points
below their long-run averages. Among durable goods industries, some of the larger downward revisions to
utilization over the 2005–08 period were for wood products, nonmetallic mineral products, and motor vehicles
and parts. The durable goods industries that reported the largest net upward revisions since 2005 were
machinery; electrical equipment, appliances, and components; aerospace and miscellaneous transportation
equipment; and furniture and related products.
As with the durable goods industries, utilization rates for most nondurable goods industries were near
their long-run averages from 2005 through 2007 but turned down sharply in 2008. In the fourth quarter of 2008,
four nondurable goods industries (textile and product mills, paper, printing and support activities, and plastics
and rubber products) had utilization rates between 10 and 20 percentage points below their long-run averages.
Among nondurable goods industries, the following industries had the largest downward revisions to their
utilization rates over the 2005–08 period: food, beverage, and tobacco products; petroleum and coal products;
and plastics and rubber products. Textile and product mills, apparel and leather, and printing and support
activities had the largest upward revisions to their utilization rates over the 2005–08 period. Capacity utilization
in the other (non-NAICS) manufacturing category was revised downward for 2005 and upward for 2006 through
2008.
The operating rates for the selected high-technology industries were slightly above their long-run
averages in the fourth quarters of 2006 and 2007 but fell more than 7 percentage points below their long-run
averages in 2008. Relative to earlier estimates, capacity utilization is now reported to have been higher in 2005,
2006, and 2008 but lower in 2007. The operating rates for computers and peripheral equipment are now shown
to have been higher than previously reported in each of the past few years, particularly 2008. Utilization rates for
communications equipment are now higher than previously reported in 2005 and 2006 but lower in 2007 and
2008. Capacity utilization in the semiconductors and related electronic components industry was above or near
its long-run average from 2005 through 2007, but, in the fourth quarter of 2008, although it was revised up, it
still stood at more than 14 percentage points below its long-run average.
Capacity utilization in mining was generally above its long-run average from 2005 through 2008, and in
the fourth quarter of 2008 stood at 89.5 percent, almost 2 percentage points higher than its long-run average.
Relative to earlier estimates, the utilization rate for mining was a little lower in 2006 and 2008 but was little
changed in 2005 and 2007. At electric and gas utilities, capacity utilization rates were revised down for 2005
through 2008, and capacity utilization in the fourth quarter of 2008 is now estimated to have been nearly
4 percentage points below its long-run average.
TECHNICAL ASPECTS OF THE REVISION
Comprehensive data for 2007 for manufacturing were not available for this revision. After incorporating
the limited information that was available, the benchmark indexes for manufacturing—defined for each six-digit
NAICS industry as nominal gross output divided by a price index—were little changed before 2007. The
principal changes resulted from small revisions to price indexes from the Bureau of Economic Analysis and from
improved estimates of price indexes for communications equipment output constructed by the Federal Reserve
(discussed below). In addition, the benchmark indexes for logging and publishing (included in the IP index for
manufacturing but no longer included in manufacturing under NAICS) were advanced through 2007 and updated
for 2006 based on data from the U.S. Forest Service and the Census Bureau.
The IP indexes in recent years did incorporate information from selected Current Industrial Reports for
2007, the revised input-output accounts for 2002 from the BEA, the Quarterly Survey of Plant Capacity for 2007
and 2008, and other annual industry reports. The indexes also incorporated revised monthly and quarterly source
data on production, shipments, inventories, and production-worker hours.
5

As mentioned earlier, the benchmark indexes for most industries incorporate updated price indexes from
the industry output program of the BEA. However, the price indexes for pharmaceuticals (NAICS 325412), for
semiconductors (NAICS 334413), and for most components of communications equipment (NAICS 3342) are
constructed by the Federal Reserve from alternative sources.5
Changes to the Methodology for Adjusting for Temporary Help Supply Employees.
The compilation of the initial IP estimate for a given month relies heavily on the hours worked by
production workers in the manufacturing sector when the availability of the other IP source data is limited. The
hours data are adjusted to account for the labor input of temporary help supply (THS) employees who work in
the manufacturing sector. The procedure for implementing this adjustment is as follows. An estimate is made of
the component of THS employment that is allocated to manufacturing. This estimate begins with a baseline
figure projected from the Current Population Survey but varies based on the cyclical movements of the
manufacturing sector and the rest of the economy—THS employment has a cyclical pattern similar to that of
manufacturing.6 The THS employment in manufacturing is then allocated among the NAICS three-digit
industries based on each industry’s use of THS workers and cyclical patterns. With this revision, the allocation of
THS employment among industries within manufacturing was updated based on data from the annual Survey of
Plant Capacity for 2002 through 2005.7
In addition, this revision updates the method for estimating each industry’s monthly baseline share of
temporary help employment use in manufacturing. Previously, this share was held constant for each industry at
the level estimated according to the method above. With this revision, the share is allowed to evolve based on the
industry’s share of total manufacturing employment.
An adjusted production-worker hour series for each three-digit manufacturing industry is computed by
adding THS hours for an industry (THS employment multiplied by assumptions on hours per week and relative
productivity) to the reported production-worker hours for the industry. The percentage adjustment for each
three-digit industry’s hours is then applied to the hours series for each of its component industries. These
adjusted detailed hours series are used in making (1) estimates for those IP series based on labor input for the
period for which benchmark output indexes are not yet available and (2) preliminary estimates of those IP series
based on physical product data for which the current source data are not yet available.
Changes to Individual Production and Capacity Series
With this revision, the monthly production indicators for some series have changed.
Carpet and Rug Mills
The index for carpet and rug mills (NAICS 31411) is based on quarterly data on unit shipments from the
Carpet and Rug Institute. Formerly, it was based on monthly data from the same source. A cubic spline is used to
interpolate monthly values from the quarterly figures, a method similar to that used for the other series for which
only quarterly physical product data are available.8
High-Technology Goods
Computers
5A

table that lists annual and quarterly price indexes for the networking equipment component of communications equipment follows.
Marcello Estevao and Saul Lach (1999), Measuring Temporary Labor Outsourcing in U.S. Manufacturing, Finance and Economics Discussion Series 1999–57
(Washington: Board of Governors of the Federal Reserve System, October).
7 For several years, the Annual Survey of Plant Capacity collected information about the share of production workers that consisted of temporary workers; this
information is not collected in the Quarterly Survey of Plant Capacity.
8 See Richard D. Raddock (1993), Industrial Production, Capacity, and Capacity Utilization since 1987, Federal Reserve Bulletin, vol. 79 (June).
6 See

6

The six product-based indexes for electronic computer manufacturing (NAICS 334111) are derived from
quarterly data on domestic absorption from International Data Corporation, an industry research group.
Previously, to construct the monthly indicator, the nominal absorption data were aggregated to the industry level
and converted to domestic industry shipments based on the Census Bureau’s trade data (by adding exports and
subtracting imports). The industry-level ratio of shipments to domestic absorption was applied to each of the six
product-level absorption estimates to obtain product-level shipments. With this revision, domestic absorption is
now adjusted to reflect domestic production using the Census Bureau’s quarterly Current Industrial Report for
computers and peripheral equipment when available, and it is projected forward using a model-based trend.
Communications equipment
Price indexes for two product classes in the communications equipment industry were revised to
incorporate additional product detail. The price index for enterprise and home voice equipment (NAICS 33421,
part), which covers the production of telephones, was updated. This price index was previously calculated using
average selling prices for two types of phones (corded and cordless) but is now a matched-model index
constructed using detailed data, beginning in 1997, from the Consumer Electronics Association on transmission
frequency, number of lines, and presence of other features such as caller identification, speakerphone, and
integrated answering machine. The price index for wireless system equipment (NAICS 33422, part), which
covers mobile phone infrastructure, was improved by folding in additional detail on base-station radio
transmission capacity using data from the Dell’Oro Group, a market research firm. The resulting mobile
infrastructure price index falls 4 percentage points faster per year, on average, from 2000 to 2008.
Capacity
Electricity generation
The capacity index for electric power generation, transmission, and distribution (NAICS 2211) is now
based on generation capability data from the Department of Energy; previously it was based on electricity
generation capacity data from the North American Electric Reliability Council (NERC). The change was made
because the DOE data are compiled using a more consistent definition over time. However, because the DOE
data are published with a lag, the capacity projection for the most recent year or two is estimated by extending the
DOE generation capability series by the rate of change shown for the NERC electricity generation capacity data.
Nonferrous metals (except aluminum)
The capacity index for nonferrous metal (except aluminum) production and processing (NAICS 3314) is
now based on copper smelting, copper refining, and zinc smelting data from the U.S. Geological Survey.
Formerly the capacity index was based on the USGS data on just copper smelting and copper refining.
Natural gas extraction
The DOE no longer publishes physical capacity estimates for natural gas extraction (NAICS 211111,
part). Capacity estimates for recent years are based on output projections from the Short-Term Energy Outlook
(STEO) and Annual Energy Outlook (AEO) reports of the DOE.
Trend-through-peak estimates
The trend-through-peak method of estimating capacity is used for those industries in mining and utilities
for which there are no physical capacity sources—seven individual series accounting for about 5 percent of
capacity. With this revision, the trend-through-peak method used to estimate capacity indexes for oil extraction
(NAICS 211111, part), natural gas liquid extraction (NAICS 211112), and natural gas sales and transmission
7

(NAICS 2212) is based on production indexes that are extended using output projections from the STEO and
AEO reports from the DOE.
The basic method in estimating trend-through-peak capacities for these industries is to construct baseline
estimates of capacity by connecting peaks in production, with these peaks representing 100 percent utilization.
In practice, the procedure involves a fair degree of judgment and deviates from a strict trend-through-peak
approach in a variety of ways. Most importantly, if a peak in production was reached several years ago and
production has not subsequently approached that previous maximum, published capacity levels generally will,
after a time, trend downward. That is, they will tend to follow recent IP. Second, historically, the capacity levels
corresponding to peaks in production for different series have yielded a variety of peak utilization rates.
Weights for Aggregation
The IP index is a Fisher index. The weights for manufacturing industries are derived from value-added
measures from the Census of Manufactures and the Annual Survey of Manufactures. The Federal Reserve
derives estimates of value added for the electric and gas utility industries from annual revenue and expense data
issued by other organizations. The weights for aggregation, expressed as unit value added, were estimated with
the latest data on producer prices for the period after 2006. Table 10 shows the annual value-added proportions in
the IP index from 2001 through 2008.
The outputs of most industries are inputs to multiple markets. Although data are sometimes available that
directly split the output of an industry by its purchaser, most industry output measures do not provide that detail.
With the 2002 annual revision, weights that allocate individual IP indexes into multiple market groups were
derived from the 1997 input-output tables from the BEA.9 With this revision, the weights for the period from
2002 forward were updated using estimates from the 2002 input-output tables. The weights for the period up
through 1997 are still computed from the 1997 tables, and the weights between 1997 and 2002 are linear
combinations of the 1997 and 2002 weights.
Revised Monthly Data
This revision incorporates product data that became available or were revised after the regular six-month
reporting window for monthly IP was closed. These data were released with too great a lag to be included with
monthly IP estimates but were available for inclusion in the annual revision.
Revised Seasonal Factors
Seasonal factors for all series were reestimated using data that extend into 2008 or 2009. Factors for
production-worker hours—which adjust for timing, holiday, and monthly seasonal patterns—were updated with
data through February 2009. The updated factors for the physical product series, which include adjustments for
holiday and workday patterns, used data through 2008. Seasonal factors for unit motor vehicle assemblies have
been updated, and projections through September 2009 are on the Board’s website at
www.federalreserve.gov/releases/g17/mvsf.htm.
9 See

Carol Corrado (2003), Industrial Production and Capacity Utilization: The 2002 Historical and Annual Revision, Federal Reserve Bulletin, vol. 89 (April).

8

Data Availability and Publication Changes
Files containing the revised data and the text and tables from this release are available on
the Board’s website at www.federalreserve.gov/releases/g17, as are updated data for the annual
revision and for all of the regularly issued series on industrial production, capacity, and capacity
utilization. The revised data will also be available through the STAT-USA website of the Department of Commerce (www.stat-usa.gov). Further information on these revisions is available from
the Board’s Industrial Output Section (telephone 202-452-3197).
A document with printed tables of the revised estimates of series shown in the G.17 release
is available upon request to the Industrial Output Section, Mail Stop 82, Division of Research and
Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551.
An expanded version of this release will be published in a forthcoming article in the Federal
Reserve Bulletin.

9

U.S. Networking Equipment, 1998 to 2007
Production Index

Price Index

234.4
194.4
174.1
133.2
100.0
76.6
59.9
54.3
51.4
50.2

17,220.1
20,677.1
25,691.3
23,103.2
14,602.6
12,158.9
11,322.5
11,559.9
18,137.0
19,219.8

261.9
244.6
219.0
213.9

Annual Estimates (indexes are 2002=100)
1998
50.6
1999
72.9
2000
101.1
2001
118.6
2002
100.0
2003
110.1
2004
129.3
2005
146.2
2006
242.8
2007
261.6
Quarterly Estimates (indexes are 2002=100)
1998Q1
42.3
1998Q2
50.7
1998Q3
54.0
1998Q4
56.5

Value of Production
(millions of dollars)

16,107.6
18,052.1
17,217.1
17,589.7

1999Q1
1999Q2
1999Q3
1999Q4

67.7
73.1
72.5
79.4

205.0
195.9
195.4
182.6

20,192.3
20,847.5
20,604.9
21,094.6

2000Q1
2000Q2
2000Q3
2000Q4

92.1
102.0
103.1
108.1

182.8
172.1
175.2
167.8

24,498.6
25,530.4
26,263.9
26,376.7

2001Q1
2001Q2
2001Q3
2001Q4

122.4
117.7
118.4
115.9

147.2
137.6
126.9
122.5

26,217.5
23,562.3
21,869.4
20,666.9

2002Q1
2002Q2
2002Q3
2002Q4

105.1
95.0
103.1
96.7

111.3
107.9
92.3
89.5

17,022.9
14,915.6
13,836.7
12,598.8

2003Q1
2003Q2
2003Q3
2003Q4

92.3
108.3
122.7
116.5

89.2
81.8
72.3
63.6

11,979.4
12,886.8
12,902.8
10,782.7

2004Q1
2004Q2
2004Q3
2004Q4

152.2
130.8
121.1
115.9

61.9
60.5
59.6
57.8

13,699.1
11,504.0
10,498.2
9,737.4

2005Q1
2005Q2
2005Q3
2005Q4

123.9
135.1
147.2
178.2

55.1
54.3
54.2
53.5

9,933.6
10,681.3
11,608.0
13,856.8

2006Q1
2006Q2
2006Q3
2006Q4

190.3
223.3
263.2
292.6

53.2
51.5
50.6
50.2

14,717.0
16,719.5
19,386.7
21,387.0

2007Q1
2007Q2
2007Q3
2007Q4

298.2
295.5
265.1
195.9

50.2
50.8
50.3
49.4

21,775.0
21,848.9
19,396.7
14,091.4

10

1. Total industrial production, capacity, and utilization
150
140

Ratio scale, 2002 output = 100
Revised
Earlier

150
140

130

130

120

120
Capacity

110

110

100

100

90

90

Production

80

80

75

75

70

70

65

65

60

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

Percent of capacity

86
82

60

86
82

Utilization

78

78

74

74

70

70

66

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

Note: The shaded areas are periods of business recession as defined by the National Bureau of Economic
Research (NBER). The last shaded area begins with the peak as defined by the NBER and ends at the trough
of a 3 month moving average of manufacturing IP.

11

2010

66

2. Manufacturing industrial production, capacity, and utilization
150
140

Ratio scale, 2002 output = 100
Revised
Earlier

150
140

130

130

120

120
Capacity

110

110

100

100

Production

90

90

80

80

70

70

65

65

60

60

55

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

Percent of capacity

86

55

86
82

82
Utilization
78

78

74

74

70

70

66

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

Notes: The shaded areas are periods of business recession as defined by the NBER. The last shaded
area begins with the peak as defined by the NBER and ends at the trough of a 3 month moving average of manufacturing IP.
Manufacturing consists of those industries in the North American Industry Classification System, or NAICS,
definition of manufacturing plus those industries--logging and newspaper, periodical, book and directory
publishing--that have traditionally been considered to be manufacturing and included in the industrial sector.

12

66

3. Industrial production and capacity utilization
Industrial production

Ratio scale, 2002 output = 100

115
110
105
100
95
90

115
110
105
100
95
90

Excluding
high-technology
industries

85

85

Total IP

80

80

75

75

70

70

65

65

60

1988

1990

1992

1994

1996

1998

2000

2002

Industrial production

2004

2006

2008

60

Percent change from year earlier
15

15
Total IP

10

10

5

5

0

0
Excluding the
contribution
of high-technology
industries

-5
-10
-15

1988

1990

1992

Industrial production

1994

1996

1998

2000

Ratio scale, 2002 = 100

-5
-10

2002

2004

2006

Capacity utilization

350

350

300

250

-15

Percent of capacity

300

250

2008

200

Communications eq.

100

100
High-technology
industries

90

90

200
80

150

70
100

100
Computers

80
60

80

150

80

2000
2002
Semiconductors

2004

2006

2008

60

Excluding
high-technology
industries

70

60

50

60

1990

1995

2000

2005

50

Notes: High-technology industries are defined as semiconductors and related electronic components
(NAICS 334412-9), computers (NAICS 3341),and communications equipment (NAICS 3342).
The shaded areas are periods of business recession as defined by the NBER. The last shaded
area begins with the peak as defined by the NBER and ends at the trough of a 3 month moving average of manufacturing IP.

13

4. Consumer goods
Ratio scale, 2002 output = 100
120

120

Revised
Earlier

100

100
Detail: 2006 to present

110
108
106

80

80

104
102
100
98
2006 2007 2008 2009

60

1988

1990

1992

1994

1996

1998

2000

2002

Components of consumer goods
125

2004

96

2006

2008

60

Ratio scale, 2002 output = 100
125

Revised durable
Revised nondurable
Earlier

105

105
Nondurable

85

85

Durable
Detail: 2006 to present

65

65

115
110
105
100
95
90
85
80
75

2006 2007 2008 2009

45

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

70

2008

45

Note: The shaded areas represent periods of business recession as defined by the NBER. The last shaded
area begins with the peak as defined by the NBER and ends at the trough of a 3 month moving average of manufacturing IP.

14

5. Equipment, total
140

Ratio scale, 2002 output = 100
140

Revised
Earlier

110

110
90

90
70

Detail: 2006 to present

70
145
135
125

50

50

115
105
2006 2007 2008 2009

30

1988

1990

1992

1994

1996

1998

2000

2002

2004

Components of equipment

95

2006

2008

30

Ratio scale, 2002 output = 100
140
120
100

140
120
100
80

Detail: 2006 to present

60

80

145
135

60

125

Business

115

40

40

105
2006 2007 2008 2009

20

1988

1990

1992

1994

1996

1998

2000

2002

2004

Components of equipment

2006

95

2008

20

Ratio scale, 2002 output = 100
160

160
140

140
Defense and space

120

120

100

100

80

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

80

Note: The shaded areas represent periods of business recession as defined by the NBER. The last shaded
area begins with the peak as defined by the NBER and ends at the trough of a 3 month moving average of manufacturing IP.

15

6. Nonindustrial supplies
Ratio scale, 2002 output = 100

120

Revised
Earlier

120

90

90
Detail: 2006 to present

115
110

70

70

105
100
95
90

2006 2007 2008 2009

50

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

Ratio scale, 2002 output = 100

120 Components of nonindustrial supplies

Detail: 2006 to present

90
Construction
70

2006 2007 2008 2009

50

120

1988

1990

1992

1994

2008

1996

1998

2000

2002

2004

70

2008

Ratio scale, 2002 output = 100

Components of nonindustrial supplies

Detail: 2006 to present

90

120

90

115
110
105
100
95
90
85
80

2006

50

50

120

90

115
110
105

70

2006 2007 2008 2009

50

1988

70

100

Business

1990

1992

1994

1996

1998

2000

2002

2004

2006

95

2008

50

Note: The shaded areas represent periods of business recession as defined by the NBER. The last shaded
area begins with the peak as defined by the NBER and ends at the trough of a 3 month moving average of manufacturing IP.

16

7. Industrial materials
115

Ratio scale, 2002 output = 100
115

Revised
Earlier

90

90
Detail: 2006 to present

115
110

70

70
105
100

2006 2007 2008 2009

50

1988

1990

1992

1994

1996

1998

2000

2002

Components of industrial materials

2004

95

2006

2008

50

Ratio scale, 2002 output = 100

125

125

Energy
100

100

75

75
Detail: 2006 to present

120
115
110

Non-energy

105
100
95
2006 2007 2008 2009

50

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

90

2008

50

Note: The shaded areas represent periods of business recession as defined by the NBER. The last shaded
area begins with the peak as defined by the NBER and ends at the trough of a 3 month moving average of manufacturing IP.

17

8. Capacity utilization by stage of process
Capacity utilization
100
95

Percent of capacity
100

Revised
Earlier

95
Crude processing

90

90

85

85

80

80

75

75

70

1988

1990

1992

1994

1996

1998

2000

2002

2004

Capacity utilization

2006

2008

70

Percent of capacity

95

95
Primary and
semifinished processing

90

90

85

85

80

80

75

75

70

70

65

1988

1990

1992

1994

1996

1998

2000

2002

2004

Capacity utilization

2006

2008

65

Percent of capacity

90

90

85

85

Finished processing

80

80

75

75

70

70

65

65

60

1988

1990

1992

1994

1996

1998

2000

2002

2004

Note: The shaded areas are periods of business recession as defined by the NBER.
The last shaded area begins with the peak as defined by the NBER and ends at the trough
of a 3 month moving average of manufacturing IP.

18

2006

2008

60

Table 1A
I NDUSTRIAL P RODUCTION : Total
Seasonally adjusted

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual1

-.7
.4
-.6
-1.9

.6
.1
-.5
2.0

.3
-.3
.5
-.7

-1.1
-2.0
-.6
-.9

.8
-2.5
.7
-.7

.0
-1.2
.5
-.4

-.2
-.7
.7
-.4

-.7
.4
.0
-.9

.1
1.6
-.6
-.4

.6
1.3
-.7
-.8

-.1
1.7
-1.1
-.3

.1
.6
-1.1
-.7

1.7
1.7
.9
-7.7

-.6
-15.8
1.0
-5.1

-1.4
-6.3
4.3
-6.0

1.5
16.4
-8.5
-7.1

3.0
-2.5
1.3
-5.2

1983
1984
1985
1986
1987

1.9
2.0
-.3
.5
-.3

-.6
.5
.5
-.7
1.3

.8
.5
.1
-.6
.1

1.2
.6
-.2
.1
.6

.7
.5
.1
.1
.7

.5
.4
.1
-.3
.5

1.5
.3
-.6
.6
.6

1.1
.0
.4
-.1
.7

1.5
-.1
.5
.2
.3

.8
-.1
-.4
.5
1.5

.3
.4
.3
.5
.5

.5
.1
1.0
.9
.5

4.9
12.4
1.0
2.3
5.5

9.2
6.3
.4
-2.4
7.0

14.4
2.8
-.7
1.6
7.3

10.8
.4
2.4
4.7
10.2

2.8
8.9
1.2
1.0
5.2

1988
1989
1990
1991
1992

.0
.2
-.5
-.5
-.6

.4
-.4
.9
-.6
.8

.2
.3
.5
-.5
.8

.5
.0
-.1
.2
.7

-.1
-.7
.2
1.0
.4

.2
.0
.3
1.0
.0

.2
-.9
-.1
.0
.8

.5
.9
.2
.1
-.5

-.3
-.3
.2
.9
.2

.5
-.1
-.7
-.2
.7

.2
.3
-1.2
-.1
.4

.4
.6
-.7
-.4
.0

3.6
1.6
3.1
-7.4
-.5

3.6
-1.7
2.8
2.6
7.2

2.1
-2.4
1.2
5.5
2.9

2.9
1.8
-6.1
.9
4.0

5.2
.9
1.0
-1.6
2.8

1993
1994
1995
1996
1997

.5
.4
.3
-.7
.1

.3
.0
.0
1.7
1.2

.0
1.1
.2
-.2
.8

.3
.5
.0
.8
.0

-.4
.6
.2
.6
.7

.2
.7
.3
.9
.5

.4
.2
-.4
-.1
.5

.0
.5
1.4
.6
1.4

.4
.2
.4
.6
.9

.7
.9
-.2
.0
.7

.4
.6
.3
.8
.9

.5
1.1
.4
.6
.4

3.6
5.2
5.1
2.9
7.9

.9
7.5
1.2
8.1
6.4

2.1
5.1
3.9
5.4
9.6

6.0
8.1
3.4
5.6
10.4

3.3
5.3
4.8
4.4
7.3

1998
1999
2000
2001
2002

.5
.5
.0
-.7
.5

.0
.4
.4
-.6
.0

.1
.2
.4
-.3
.8

.4
.2
.6
-.3
.3

.7
.7
.2
-.7
.5

-.6
-.2
.1
-.6
.9

-.4
.6
-.2
-.4
-.3

2.1
.5
-.2
-.4
.1

-.3
-.3
.5
-.3
.1

.7
1.4
-.4
-.6
-.3

-.1
.6
.0
-.5
.4

.3
.8
-.4
.0
-.5

4.4
4.4
4.8
-5.7
2.5

3.2
3.7
4.9
-5.3
5.9

2.9
4.1
-.3
-5.7
2.1

5.1
8.1
-1.2
-5.0
-.4

5.9
4.3
4.2
-3.4
-.1

2003
2004
2005
2006
2007

.7
.3
.4
.0
-.5

.3
.5
.6
.0
.8

-.1
-.6
-.1
.2
-.2

-.8
.5
.0
.4
.4

.0
.7
.3
-.1
.1

.1
-.9
.4
.4
.0

.4
.7
-.1
.2
.3

-.1
.2
.2
.2
.1

.6
.0
-1.7
-.3
.4

.1
.9
1.1
-.1
-.5

.9
.2
1.1
-.2
.6

-.1
.7
.6
.8
.3

2.9
2.8
5.7
3.6
1.8

-3.0
1.8
1.7
2.2
2.4

2.6
1.9
-.7
2.0
2.1

4.1
5.7
4.0
-.6
.8

1.3
2.5
3.3
2.3
1.5

2008
2009

-.1
-2.0

-.3
-1.5

-.4

-.6

-.3

-.2

-.1

-1.1

-4.0

1.4

-1.3

-2.4

.2

-4.6

-9.0

-12.7

-2.2

IP (2002=100)
1979
1980
1981
1982

57.6
58.0
57.0
54.7

57.9
58.1
56.7
55.8

58.1
57.9
57.1
55.4

57.5
56.8
56.7
54.9

57.9
55.3
57.1
54.5

57.9
54.6
57.4
54.3

57.8
54.3
57.8
54.1

57.4
54.5
57.8
53.6

57.5
55.3
57.4
53.4

57.8
56.1
57.0
53.0

57.8
57.0
56.4
52.8

57.8
57.3
55.8
52.4

57.9
58.0
56.9
55.3

57.8
55.6
57.1
54.6

57.6
54.7
57.7
53.7

57.8
56.8
56.4
52.7

57.7
56.3
57.0
54.1

1983
1984
1985
1986
1987

53.4
59.3
60.9
62.3
62.7

53.1
59.6
61.2
61.8
63.5

53.6
59.9
61.3
61.4
63.6

54.2
60.3
61.2
61.5
64.0

54.6
60.6
61.2
61.6
64.4

54.9
60.8
61.3
61.4
64.7

55.7
60.9
60.9
61.7
65.1

56.4
61.0
61.1
61.6
65.6

57.2
60.9
61.4
61.8
65.8

57.7
60.8
61.1
62.0
66.8

57.9
61.1
61.3
62.3
67.1

58.1
61.1
62.0
62.9
67.4

53.4
59.6
61.2
61.8
63.3

54.6
60.5
61.2
61.5
64.4

56.4
60.9
61.1
61.7
65.5

57.9
61.0
61.5
62.4
67.1

55.6
60.5
61.3
61.9
65.1

1988
1989
1990
1991
1992

67.5
69.6
69.0
68.2
68.7

67.7
69.3
69.6
67.8
69.2

67.9
69.4
70.0
67.5
69.8

68.3
69.4
69.9
67.6
70.3

68.2
68.9
70.0
68.3
70.6

68.4
69.0
70.2
68.9
70.6

68.5
68.3
70.1
68.9
71.2

68.8
69.0
70.2
69.0
70.8

68.6
68.8
70.4
69.6
71.0

69.0
68.7
69.9
69.5
71.5

69.1
68.9
69.0
69.4
71.8

69.4
69.4
68.6
69.1
71.8

67.7
69.4
69.5
67.8
69.3

68.3
69.1
70.0
68.3
70.5

68.6
68.7
70.2
69.2
71.0

69.1
69.0
69.2
69.3
71.7

68.4
69.1
69.7
68.7
70.6

1993
1994
1995
1996
1997

72.2
74.6
79.7
81.1
86.5

72.4
74.6
79.7
82.4
87.6

72.4
75.4
79.8
82.3
88.3

72.6
75.8
79.7
83.0
88.3

72.3
76.2
79.9
83.5
88.9

72.5
76.7
80.1
84.2
89.3

72.8
76.9
79.9
84.2
89.8

72.8
77.3
80.9
84.7
91.0

73.1
77.4
81.3
85.1
91.9

73.6
78.1
81.1
85.2
92.5

73.9
78.6
81.3
85.9
93.3

74.3
79.4
81.7
86.4
93.7

72.3
74.9
79.7
82.0
87.5

72.5
76.2
79.9
83.6
88.8

72.9
77.2
80.7
84.7
90.9

73.9
78.7
81.4
85.8
93.2

72.9
76.8
80.4
84.0
90.1

1998
1999
2000
2001
2002

94.1
97.5
102.4
102.7
98.4

94.2
97.9
102.9
102.1
98.4

94.2
98.1
103.3
101.8
99.2

94.6
98.3
103.9
101.5
99.5

95.3
99.0
104.1
100.8
100.0

94.8
98.8
104.3
100.1
100.9

94.4
99.5
104.0
99.7
100.6

96.3
100.0
103.8
99.3
100.6

96.1
99.7
104.3
99.0
100.7

96.7
101.0
103.9
98.4
100.4

96.6
101.6
103.9
97.9
100.9

97.0
102.4
103.5
97.9
100.4

94.2
97.8
102.9
102.2
98.7

94.9
98.7
104.1
100.8
100.1

95.6
99.7
104.0
99.3
100.6

96.8
101.7
103.7
98.1
100.6

95.4
99.5
103.7
100.1
100.0

2003
2004
2005
2006
2007

101.1
102.7
106.3
108.9
109.9

101.4
103.3
107.0
108.9
110.8

101.3
102.7
106.9
109.1
110.6

100.5
103.1
106.8
109.5
111.1

100.5
103.9
107.1
109.4
111.1

100.6
103.0
107.5
109.9
111.2

101.0
103.7
107.5
110.1
111.5

100.9
103.9
107.7
110.3
111.6

101.5
103.9
105.8
110.0
112.0

101.6
104.8
107.0
109.8
111.4

102.5
105.1
108.2
109.6
112.1

102.4
105.8
108.9
110.5
112.4

101.3
102.9
106.7
109.0
110.5

100.5
103.3
107.2
109.6
111.1

101.2
103.8
107.0
110.1
111.7

102.2
105.3
108.0
110.0
112.0

101.3
103.8
107.2
109.7
111.3

2008
2009

112.3
100.3

112.0
98.8

111.6

111.0

110.7

110.4

110.4

109.2

104.8

106.3

104.9

102.4

112.0

110.7

108.1

104.5

108.8

Year
IP (percent
change)
1979
1980
1981
1982

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.
1. Annual averages of industrial production are calculated from not seasonally adjusted indexes.

19

Table 1B
C APACITY AND U TILIZATION : Total
Seasonally adjusted

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual

Capacity
(percent of
2002 output)
1979
1980
1981
1982

67.1
68.9
70.7
72.7

67.3
69.1
70.9
72.9

67.4
69.2
71.0
73.0

67.6
69.3
71.2
73.2

67.8
69.5
71.4
73.3

67.9
69.6
71.5
73.4

68.1
69.8
71.7
73.5

68.2
69.9
71.9
73.6

68.4
70.1
72.1
73.7

68.5
70.2
72.2
73.8

68.6
70.4
72.4
73.9

68.8
70.5
72.6
73.9

67.3
69.1
70.9
72.9

67.8
69.5
71.4
73.3

68.2
69.9
71.9
73.6

68.6
70.4
72.4
73.9

68.0
69.7
71.6
73.4

1983
1984
1985
1986
1987

74.0
74.5
76.3
78.2
79.3

74.0
74.5
76.5
78.3
79.5

74.0
74.7
76.7
78.4
79.6

74.1
74.8
76.9
78.5
79.8

74.1
74.9
77.1
78.5
79.9

74.1
75.1
77.2
78.6
80.1

74.1
75.2
77.4
78.7
80.2

74.2
75.4
77.6
78.8
80.4

74.2
75.6
77.7
78.9
80.5

74.2
75.7
77.8
79.0
80.6

74.3
75.9
78.0
79.1
80.7

74.4
76.1
78.1
79.2
80.8

74.0
74.6
76.5
78.3
79.5

74.1
74.9
77.1
78.5
79.9

74.2
75.4
77.6
78.8
80.4

74.3
75.9
78.0
79.1
80.7

74.1
75.2
77.3
78.7
80.1

1988
1989
1990
1991
1992

80.9
81.7
83.7
85.5
86.8

81.0
81.8
83.8
85.6
87.0

81.1
82.0
84.0
85.7
87.1

81.1
82.1
84.2
85.8
87.3

81.2
82.3
84.3
85.9
87.5

81.2
82.4
84.5
86.0
87.7

81.2
82.6
84.6
86.1
87.9

81.3
82.8
84.8
86.2
88.0

81.4
82.9
84.9
86.3
88.2

81.4
83.1
85.1
86.5
88.4

81.5
83.3
85.2
86.6
88.5

81.6
83.5
85.3
86.7
88.7

81.0
81.8
83.8
85.6
87.0

81.2
82.3
84.3
85.9
87.5

81.3
82.8
84.8
86.2
88.0

81.5
83.3
85.2
86.6
88.5

81.2
82.5
84.5
86.1
87.8

1993
1994
1995
1996
1997

88.8
90.4
93.9
98.1
103.8

89.0
90.6
94.2
98.6
104.3

89.1
90.9
94.5
99.0
104.9

89.2
91.1
94.8
99.5
105.4

89.3
91.4
95.1
99.9
106.0

89.4
91.7
95.5
100.4
106.6

89.5
92.0
95.8
100.9
107.2

89.6
92.3
96.2
101.4
107.8

89.7
92.6
96.5
101.8
108.5

89.9
92.9
96.9
102.3
109.1

90.1
93.2
97.3
102.8
109.8

90.2
93.5
97.7
103.3
110.5

89.0
90.6
94.2
98.6
104.3

89.3
91.4
95.1
99.9
106.0

89.6
92.3
96.2
101.4
107.8

90.1
93.2
97.3
102.8
109.8

89.5
91.9
95.7
100.7
107.0

1998
1999
2000
2001
2002

111.2
118.8
124.5
129.6
133.5

112.0
119.3
124.9
129.9
133.7

112.7
119.8
125.4
130.3
133.9

113.4
120.3
125.8
130.7
134.0

114.1
120.7
126.2
131.1
134.1

114.7
121.2
126.7
131.4
134.2

115.4
121.7
127.1
131.8
134.2

116.0
122.1
127.5
132.1
134.2

116.6
122.6
127.9
132.4
134.2

117.1
123.1
128.3
132.7
134.2

117.7
123.5
128.7
133.0
134.1

118.2
124.0
129.2
133.3
134.1

112.0
119.3
124.9
129.9
133.7

114.1
120.7
126.2
131.1
134.1

116.0
122.1
127.5
132.1
134.2

117.7
123.5
128.7
133.0
134.1

114.9
121.4
126.9
131.5
134.0

2003
2004
2005
2006
2007

134.0
133.5
133.3
134.7
136.9

133.9
133.5
133.4
134.9
137.1

133.8
133.4
133.4
135.0
137.3

133.8
133.4
133.5
135.2
137.6

133.7
133.4
133.6
135.4
137.8

133.6
133.4
133.7
135.5
138.0

133.6
133.3
133.8
135.7
138.3

133.6
133.3
134.0
135.9
138.5

133.5
133.3
134.1
136.1
138.7

133.5
133.3
134.3
136.3
139.0

133.5
133.3
134.4
136.5
139.2

133.5
133.3
134.6
136.7
139.4

133.9
133.5
133.4
134.9
137.1

133.7
133.4
133.6
135.4
137.8

133.6
133.3
134.0
135.9
138.5

133.5
133.3
134.4
136.5
139.2

133.7
133.4
133.8
135.7
138.1

2008
2009

139.6
140.7

139.8
140.7

139.9

140.1

140.2

140.4

140.5

140.6

140.7

140.7

140.7

140.7

139.8

140.2

140.6

140.7

140.3

Utilization (percent)
1979
1980
1981
1982

85.8
84.2
80.7
75.2

86.1
84.1
80.1
76.5

86.1
83.7
80.3
75.8

85.0
81.9
79.7
75.0

85.5
79.7
80.0
74.4

85.3
78.5
80.2
73.9

84.9
77.8
80.6
73.6

84.1
77.9
80.4
72.8

84.1
79.0
79.7
72.5

84.4
79.8
79.0
71.8

84.1
81.0
77.9
71.5

84.0
81.3
76.9
70.9

86.0
84.0
80.3
75.9

85.3
80.0
80.0
74.4

84.4
78.2
80.2
72.9

84.2
80.7
77.9
71.4

85.0
80.7
79.6
73.7

1983
1984
1985
1986
1987

72.2
79.7
79.9
79.6
79.0

71.8
80.0
80.0
79.0
79.9

72.3
80.2
79.9
78.4
79.9

73.2
80.6
79.6
78.3
80.2

73.7
80.8
79.5
78.4
80.6

74.1
81.0
79.3
78.1
80.8

75.2
81.0
78.7
78.4
81.2

76.0
80.9
78.8
78.2
81.6

77.1
80.6
79.0
78.3
81.7

77.7
80.3
78.5
78.6
82.8

77.9
80.4
78.7
78.8
83.1

78.2
80.3
79.4
79.4
83.4

72.1
80.0
79.9
79.0
79.6

73.6
80.8
79.5
78.3
80.5

76.1
80.8
78.8
78.3
81.5

77.9
80.3
78.9
78.9
83.1

74.9
80.5
79.3
78.6
81.2

1988
1989
1990
1991
1992

83.4
85.1
82.5
79.9
79.1

83.6
84.6
83.1
79.2
79.6

83.8
84.7
83.3
78.7
80.1

84.2
84.6
83.0
78.8
80.5

84.1
83.8
83.0
79.5
80.6

84.2
83.7
83.1
80.1
80.5

84.3
82.8
82.8
80.0
81.0

84.7
83.3
82.9
80.0
80.4

84.3
83.0
82.9
80.6
80.5

84.7
82.7
82.2
80.4
80.9

84.8
82.8
81.0
80.2
81.1

85.0
83.1
80.3
79.8
80.9

83.6
84.8
83.0
79.3
79.6

84.2
84.0
83.1
79.5
80.6

84.4
83.0
82.9
80.2
80.6

84.8
82.9
81.2
80.1
81.0

84.3
83.7
82.5
79.8
80.4

1993
1994
1995
1996
1997

81.2
82.5
84.9
82.6
83.3

81.4
82.3
84.6
83.6
83.9

81.3
83.0
84.4
83.1
84.2

81.4
83.2
84.1
83.4
83.8

81.0
83.4
84.0
83.5
83.9

81.1
83.7
83.9
83.9
83.8

81.3
83.6
83.3
83.4
83.8

81.2
83.7
84.2
83.5
84.4

81.4
83.6
84.2
83.6
84.7

81.9
84.1
83.7
83.2
84.7

82.1
84.3
83.6
83.5
85.0

82.3
84.9
83.6
83.7
84.7

81.3
82.6
84.6
83.1
83.8

81.2
83.4
84.0
83.6
83.8

81.3
83.6
83.9
83.5
84.3

82.1
84.4
83.6
83.5
84.8

81.5
83.5
84.0
83.4
84.2

1998
1999
2000
2001
2002

84.6
82.1
82.3
79.3
73.7

84.1
82.1
82.4
78.6
73.6

83.6
81.9
82.4
78.1
74.1

83.5
81.7
82.6
77.7
74.2

83.6
82.0
82.5
76.9
74.5

82.6
81.5
82.3
76.2
75.2

81.8
81.8
81.8
75.7
74.9

83.1
81.9
81.4
75.2
75.0

82.4
81.3
81.5
74.7
75.0

82.6
82.1
80.9
74.1
74.9

82.1
82.2
80.7
73.6
75.2

82.0
82.6
80.1
73.5
74.9

84.1
82.0
82.4
78.7
73.8

83.2
81.8
82.5
76.9
74.7

82.4
81.6
81.6
75.2
75.0

82.2
82.3
80.6
73.7
75.0

83.0
81.9
81.7
76.1
74.6

2003
2004
2005
2006
2007

75.5
77.0
79.7
80.9
80.3

75.8
77.4
80.2
80.8
80.8

75.7
76.9
80.1
80.8
80.6

75.1
77.3
80.0
81.0
80.7

75.2
77.9
80.2
80.8
80.7

75.3
77.2
80.4
81.1
80.6

75.6
77.7
80.3
81.1
80.7

75.6
77.9
80.4
81.2
80.6

76.0
77.9
78.9
80.8
80.7

76.1
78.7
79.7
80.6
80.2

76.8
78.8
80.5
80.3
80.5

76.7
79.4
80.9
80.9
80.6

75.6
77.1
80.0
80.8
80.6

75.2
77.5
80.2
81.0
80.6

75.7
77.9
79.9
81.1
80.7

76.5
79.0
80.4
80.6
80.4

75.8
77.9
80.1
80.9
80.6

2008
2009

80.5
71.3

80.2
70.2

79.8

79.2

78.9

78.7

78.6

77.6

74.5

75.5

74.6

72.7

80.1

78.9

76.9

74.3

77.6

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.

20

Table 2
R ATES O F C HANGE IN I NDUSTRIAL P RODUCTION , M ARKET AND I NDUSTRY G ROUP S UMMARY: 2004–08 1
Difference between
revised and earlier changes
(percentage points)

Revised change
(percent)

Item
2004

2005

2006

2007

2008

2004

2005

2006

2007

2008

3.0

2.6

1.8

1.8

-6.6

-.1

.0

.1

-.3

-.5

2.5
1.5
-.5
-3.2
7.4
1.6
2.5
2.3
1.9
2.3
-13.9
3.5
.9
4.0

4.4
2.5
1.2
-1.5
7.8
1.5
4.4
2.9
3.4
4.0
-5.8
4.2
-.4
1.7

1.1
.1
-3.2
-5.2
8.8
-5.6
-.7
1.2
1.6
.0
-4.8
5.8
.1
-.1

.8
.2
1.1
3.2
15.3
-5.1
-1.0
-.1
-.9
1.1
-.5
-4.2
-1.8
1.9

-5.8
-4.3
-17.2
-22.5
1.3
-19.9
-10.8
-.4
-1.6
-.9
-6.6
-2.1
-3.9
2.8

-.1
-.1
.2
-.4
4.9
.0
.6
-.3
-.3
.0
-4.1
-.4
-1.3
.0

.0
.1
-.2
.5
-3.2
-.1
-1.2
.2
.3
.1
-3.7
1.2
.5
.0

.0
-.1
.7
.2
-2.7
.5
2.0
-.4
-.5
-.3
-5.1
-1.9
2.6
.1

-.5
-1.0
.2
-.4
1.2
.9
.5
-1.3
-1.8
-.4
1.4
-4.2
-2.9
.0

-.4
-.3
.3
-.1
3.1
.7
-.2
-.3
.0
.7
.8
-1.4
.0
-.6

Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment

5.3
6.2
7.0
4.0
1.7

9.2
15.0
12.1
5.6
8.0

7.4
9.2
10.8
4.8
-1.9

2.3
-1.4
6.6
1.1
5.7

-8.5
-29.3
2.1
-7.5
-.4

.1
-1.0
.7
.0
-1.4

-1.1
-.9
-2.6
-.4
1.1

-.3
.1
-1.9
.4
.7

-.6
2.0
-2.3
-.6
.5

.0
-1.7
2.2
-.8
.7

Construction supplies
Business supplies

2.0
2.9

7.3
3.0

-3.3
.4

-1.0
1.3

-11.4
-6.9

.3
-.3

-.2
.3

.2
.7

.6
.2

-.2
-.8

3.7
5.4
5.8
.0
10.3
5.0
4.8
-.8
3.8
9.6
-.5

.4
2.6
5.9
.6
12.7
3.0
-2.6
.5
-1.0
-7.3
-4.1

2.7
1.4
.4
-5.7
6.9
-1.8
3.1
-11.5
1.8
6.9
5.5

3.2
3.5
4.7
-2.2
10.3
3.2
1.8
-6.9
-1.4
4.3
2.5

-7.6
-11.6
-11.5
-19.6
-5.7
-12.9
-11.6
-13.7
-10.8
-15.4
.1

.0
.0
-.3
.0
-.8
.0
.5
.1
.0
1.0
.0

.1
.1
.5
.1
1.4
.1
-.4
.0
.2
-1.5
.0

.2
.1
-.7
.1
-2.4
.1
1.5
.7
.2
2.1
.3

-.1
.0
-.7
-.2
-2.1
.1
1.3
2.5
-.1
2.3
-.2

-.7
-1.0
-1.5
.2
-3.0
-.9
-.2
.8
.1
-.7
.1

321
327
331
332
333
334

3.6
3.7
3.8
1.4
4.4
8.3
1.8
5.2
9.7

3.8
4.0
7.0
11.8
5.5
-.7
6.1
8.3
15.3

1.2
1.3
1.2
-13.0
-3.6
-4.2
3.3
2.8
9.3

1.9
2.0
3.2
-7.5
-1.2
4.3
3.3
-1.0
11.0

-8.5
-8.5
-10.9
-20.7
-10.3
-26.0
-6.9
-10.8
-1.8

-.1
-.1
-.2
.0
.0
.2
.0
.0
-.5

.1
.0
.0
.1
.1
.4
-.1
.0
.1

.1
-.1
-.3
.3
-.1
.0
.1
.3
-2.9

-.4
-.4
-.6
-.7
-2.0
.2
-.1
-.3
-2.9

-.6
-.6
-.6
-.5
.1
-2.0
.4
-1.3
-2.2

335
3361–3

2.4
-1.8

1.7
.1

-.4
-6.2

3.3
-1.9

-2.9
-23.0

.1
-.4

-.1
.5

.1
-.3

-.4
.4

1.8
-.2

3364–9
337
339

2.9
3.4
1.8

10.9
1.6
6.4

5.6
-1.7
3.5

11.1
-2.6
2.9

-12.9
-17.8
-2.3

-.5
.0
.1

-.6
.0
-.2

1.1
-.1
.8

.1
-.9
1.3

-.4
.6
-.3

311,2
313,4
315,6
322
323
324
325
326

3.5
1.3
.5
-8.9
2.9
2.5
10.5
6.6
.9

.7
4.2
-.3
-1.4
-.5
.6
-3.7
-1.2
2.5

1.4
.2
-11.4
-.4
.5
2.4
2.3
5.1
-3.0

.8
1.9
-7.3
-.8
-2.1
-1.5
.3
.7
4.5

-6.0
-1.2
-12.6
-8.2
-10.9
-9.6
.5
-9.5
-11.9

.0
.0
.0
.1
.0
.1
.0
.1
.0

.0
.1
-.1
-.1
.2
.1
.0
.0
-.1

.1
-.2
.3
.4
.2
.4
.0
.1
.7

-.2
-.3
.8
1.3
.1
-.2
.7
-.7
.1

-.6
.4
.0
-.7
.1
-1.3
.0
-1.0
-1.3

1133,5111

1.4

-.3

-1.2

-1.8

-8.7

-.7

.2

3.3

-.5

.1

21
2211,2
2211
2212

-.9
1.8
2.4
-1.2

-4.9
2.0
3.5
-4.8

8.7
-.6
-1.1
1.4

.3
3.1
3.5
1.6

.7
-.4
-1.5
4.8

.0
.0
.1
-.1

.0
.0
.1
-.2

.5
.1
.1
-.1

.1
.1
.2
-.4

.0
-.6
-.4
-1.3

Total IP
M ARKET G ROUPS
Final products and nonindustrial supplies
Consumer goods
Durable
Automotive products
Home electronics
Appliances, furniture, carpeting
Miscellaneous goods
Nondurable
Non-energy
Foods and tobacco
Clothing
Chemical products
Paper products
Energy

Materials
Non-energy
Durable
Consumer parts
Equipment parts
Other
Nondurable
Textile
Paper
Chemical
Energy
I NDUSTRY G ROUPS
Manufacturing
Manufacturing (NAICS)
Durable manufacturing
Wood products
Nonmetallic mineral products
Primary metal
Fabricated metal products
Machinery
Computer and electronic products
Electrical equip., appliances,
and components
Motor vehicles and parts
Aerospace and miscellaneous
transportation equipment
Furniture and related products
Miscellaneous
Nondurable manufacturing
Food, beverage, and tobacco products
Textile and product mills
Apparel and leather
Paper
Printing and support
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Mining
Utilities
Electric
Natural gas

31–33

NOTE. Estimates for the fourth quarter of 2008 are subject to further revision in the upcoming monthly releases.
1. Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year
specified in the column heading.

21

Table 3
R ATES O F C HANGE IN I NDUSTRIAL P RODUCTION , S PECIAL AGGREGATES AND S ELECTED D ETAIL : 2004–08 1
Difference between
revised and earlier changes
(percentage points)

Revised change
(percent)

Item
2004

2005

2006

2007

2008

2004

2005

2006

2007

2008

3.0

2.6

1.8

1.8

-6.6

-.1

.0

.1

-.3

-.5

1.3
4.0
4.5
8.4
2.3
-1.7

-1.8
1.7
.4
11.9
-2.6
-4.7

3.9
-.1
1.2
14.9
2.6
6.8

2.1
1.9
1.9
-.7
5.7
1.2

1.0
2.8
.1
6.9
-4.3
1.8

.0
.0
.0
.0
.0
.0

.0
.0
.0
.0
.0
.0

.2
.1
.0
.1
.0
.4

-.1
.0
-.1
.1
.4
-.4

-.1
-.6
.1
.0
-.2
.3

3341
3342

3.4
8.6
3.5
2.6

4.0
22.6
25.3
8.9

1.2
13.1
22.1
12.4

1.7
18.2
24.2
6.6

-9.1
-5.6
-12.1
10.7

-.1
-.7
1.8
1.9

.0
.2
-3.6
-4.8

.1
-4.2
4.2
-8.2

-.4
-4.1
7.4
-14.0

-.5
-5.2
2.0
2.0

334412–9

13.8

28.4

9.8

22.3

-12.4

-3.5

4.3

-5.7

-3.7

-12.1

3.0

2.7

.4

.7

-9.4

-.1

.1

.3

-.1

-.2

-1.8
-3.4
-1.0

.1
-1.4
-.6

-6.2
-7.6
-4.3

-1.9
-1.9
.3

-23.0
-30.3
-14.3

-.4
-.7
-.2

.5
.9
.0

-.3
-.6
.0

.4
.8
-.3

-.2
-.7
.3

3.5
2.1
5.1
1.9
1.9
5.3

3.0
3.2
6.6
7.4
2.7
.5

.9
.8
6.2
-3.4
-.6
1.4

.9
-1.1
2.3
-1.0
.4
2.4

-8.4
-4.0
-8.9
-11.6
-9.7
-11.0

.0
-.2
-.1
.2
-.3
.3

.0
.1
-.7
-.2
.3
-.1

.4
-.2
.4
.3
1.1
.7

-.1
-1.4
-.5
.9
.5
.6

-.2
.0
-.1
-.1
-.8
-.3

Measures excluding selected high-technology
industries
Total industry
Manufacturing 2
Durable

2.7
3.2
3.1

1.6
2.5
4.8

1.2
.4
-.4

1.1
.9
1.4

-6.7
-8.7
-11.6

-.1
-.1
-.1

.0
.1
.1

.3
.3
.1

-.1
-.2
-.2

-.3
-.3
.0

Measures excluding motor vehicles and parts
Total industry
Manufacturing 2
Durable

3.4
4.1
4.9

2.8
4.0
8.1

2.3
1.8
2.5

2.0
2.1
4.0

-5.8
-7.5
-9.1

-.1
-.1
-.1

.0
.0
.0

.1
.1
-.4

-.4
-.5
-.8

-.5
-.6
-.6

Measures excluding selected high-technology
industries and motor vehicles and parts
Total industry
Manufacturing 2

3.1
3.7

1.7
2.7

1.7
1.0

1.2
1.1

-5.8
-7.7

.0
.0

.0
.0

.3
.3

-.2
-.2

-.3
-.3

Measure of non-energy material inputs to
Finished processors
Primary and semifinished processors

5.6
5.3

6.2
-.2

1.7
1.3

4.0
3.2

-10.5
-12.3

-.4
.4

.7
-.3

-1.1
1.0

-1.2
.9

-1.6
-.6

S TAGE - OF - PROCESS GROUPS
Crude
Primary and semifinished
Finished

2.6
3.5
2.5

-6.5
3.5
5.2

7.6
-.8
3.3

1.2
2.5
1.1

-4.6
-7.9
-5.7

.0
-.2
.1

.0
.2
-.2

.3
.2
-.1

-.5
-.1
-.6

-.3
-1.0
.1

Total industry
Energy
Consumer products
Commercial products
Oil and gas well drilling
Converted fuel
Primary energy
Non-energy
Selected high-technology industries
Computers and peripheral equipment
Communications equipment
Semiconductors and related
electronic components

213111

Excluding selected high-technology
industries
Motor vehicles and parts
Motor vehicles
Motor vehicle parts
Excluding motor vehicles and parts
Consumer goods
Business equipment
Construction supplies
Business supplies
Materials

3361–3
3361
3363

NOTE. Estimates for the fourth quarter of 2008 are subject to further revision in the upcoming monthly releases.
1. Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year
specified in the column heading.
2. Manufacturing consists of those industries included in the North American Industry Classification System, or NAICS, definition of manufacturing plus those industries logging and newspaper, periodical, book and directory publishing - that have traditionally been considered to be a part of manufacturing and are included in the industrial
sector.

22

Table 4
A NNUAL R ATES OF C HANGE FOR I NDUSTRIAL P RODUCTION : 2004–08 1
Difference between
revised and earlier changes
(percentage points)

Revised change
(percent)

Item
2004

2005

2006

2007

2008

2004

2005

2006

2007

2008

Total IP

2.5

3.3

2.3

1.5

-2.2

.0

.0

.1

-.2

-.4

M ARKET G ROUPS
Consumer goods
Durable
Nondurable

1.2
1.4
1.2

2.7
.5
3.4

.4
-1.0
.9

1.0
.4
1.1

-2.7
-9.9
-.5

-.1
.3
-.2

-.1
.0
-.1

.1
.3
.1

-.7
.7
-1.1

-.5
-.1
-.5

5.3
-1.8

7.0
10.6

9.4
-2.1

2.7
3.7

-1.1
2.5

.1
-1.0

-.3
.0

-1.0
1.2

-.7
.0

.2
1.2

Construction supplies
Business supplies

2.3
2.1

4.5
3.3

2.3
1.2

-1.9
1.3

-6.3
-2.9

.1
-.1

.0
-.1

.0
.6

.6
.7

-.1
-.7

Materials
Non-energy
Energy

3.1
4.5
-.4

2.4
4.0
-1.2

2.4
2.7
1.7

2.0
2.1
1.8

-1.8
-3.6
1.8

.1
.2
.0

.1
.1
.0

.1
.2
.0

.1
.0
.2

-.4
-.7
.2

I NDUSTRY G ROUPS
Manufacturing2
Manufacturing (NAICS)
Durable manufacturing
Nondurable manufacturing
Other manufacturing (non-NAICS)

3.0
3.1
4.1
1.9
.8

4.0
4.2
5.5
2.8
-.3

2.5
2.7
4.4
.8
-1.0

1.4
1.5
2.1
1.0
-1.3

-3.1
-3.0
-3.2
-2.8
-5.7

.0
.0
.1
.0
.0

-.1
.0
.0
.0
-1.0

.1
-.1
-.2
.0
3.3

-.3
-.3
-.6
.0
.1

-.5
-.6
-.6
-.4
.2

Mining
Utilities

-.6
1.4

-1.3
2.1

3.3
-.6

.6
3.4

2.0
.1

.0
.0

.0
.0

.2
.0

.5
.1

.2
-.1

Business equipment
Defense and space equipment

1. The rates of change are calculated as the percent change in the annual averages of not seasonally adjusted industrial production indexes, rather than as the percent change between the fourth
quarter of one year and the fourth quarter of the next.
2. See footnote 2 to table 3.

Table 5
R ATES OF C HANGE IN C APACITY, BY I NDUSTRY G ROUPS : 2005–09 1
Difference between
revised and earlier changes
(percentage points)

Revised change
(percent)

Item
2005

2006

2007

2008

2009

2005

2006

2007

2008

2009

.8

1.5

2.0

1.1

-.9

.0

.2

.2

-.4

-.6

1.3
1.4
2.4
.5
-.2

1.4
1.4
2.0
.8
1.1

2.2
2.3
3.7
1.0
.6

1.3
1.3
2.0
.8
.9

-1.2
-1.2
-.6
-1.7
-.9

-.1
-.1
-.2
.1
.0

.1
.1
-.4
.5
.0

.3
.3
.4
.2
.0

-.5
-.5
-1.0
.1
.7

-.6
-.6
-.2
-1.0
.1

Mining
Utilities

-1.1
1.5

2.3
1.3

1.4
1.3

1.1
2.3

-.7
1.8

.0
.8

1.0
.5

-.4
.0

.4
.1

-1.5
.1

Selected high-technology industries
Manufacturing2 ex. selected
high-technology industries

11.9

5.7

22.9

6.3

8.4

-1.2

-4.7

1.5

-11.2

1.2

.6

1.1

1.0

1.0

-1.6

.0

.3

.3

.2

-.7

-.9
1.0
1.9

1.5
1.3
1.8

1.4
2.0
2.4

1.2
.8
2.2

-1.2
-1.0
-.6

-.1
.2
-.3

.6
.1
.1

.0
-.1
.7

.7
-1.1
.4

-1.4
-.5
-.5

Total industry
Manufacturing 2
Manufacturing (NAICS)
Durable manufacturing
Nondurable manufacturing
Other manufacturing (non-NAICS)

S TAGE - OF - PROCESS GROUPS
Crude
Primary and semifinished
Finished

1. Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year
specified in the column heading.
2. See footnote 2 to table 3.

23

Table 6
R EVISED AND E ARLIER C APACITY U TILIZATION R ATES , BY I NDUSTRY G ROUPS
Percent of capacity, seasonally adjusted

Difference between
revised and earlier rates
(percentage points)

Revised Rate
19722008
Ave.

2005
Q4

2006
Q4

2007
Q4

2008
Q4

2005
Q4

2006
Q4

2007
Q4

2008
Q4

80.9

80.4

80.6

80.4

74.3

.0

-.1

-.5

-.6

31–33

79.6
79.4

79.2
78.9

79.0
78.8

78.7
78.6

71.1
71.0

.0
.0

.0
-.1

-.6
-.6

-.6
-.7

321
327
331
332
333
334

77.8
79.2
77.7
80.5
77.5
78.6
78.3

77.9
89.2
78.1
83.3
77.6
79.8
75.3

77.3
75.2
72.6
80.4
79.5
81.8
78.4

77.0
68.6
70.5
84.1
80.5
79.8
75.4

67.3
54.8
63.1
62.0
74.2
70.2
69.9

.0
-.7
-5.3
-.6
-.4
1.3
.6

.0
-.7
-6.3
-.4
-.4
2.4
.4

-.8
-1.5
-7.5
.3
-.8
2.6
-2.5

-.5
-1.6
-5.9
-.9
-.6
1.4
.0

335
3361–3

83.2
76.7

83.1
76.4

82.2
70.3

82.8
70.2

78.4
53.8

-.1
-1.9

.2
-2.0

-.6
-2.1

.7
-2.0

3364–9
337
339

73.2
78.4
76.5

73.2
79.8
77.0

77.3
79.0
76.3

84.2
77.6
74.4

71.8
65.1
69.4

3.2
.8
.2

4.5
1.5
-.2

3.9
1.0
-.4

2.7
2.1
-2.4

311,2
313,4
315,6
322
323
324
325
326

81.5
81.5
81.6
79.5
87.6
83.4
86.1
78.2
83.6

80.1
80.3
78.5
75.2
84.4
78.3
88.4
75.7
85.2

80.6
79.4
73.1
76.8
84.2
79.7
88.8
79.0
81.9

80.5
79.7
71.3
77.7
82.6
78.4
87.1
78.5
84.1

75.0
77.4
65.6
72.2
74.4
72.7
85.7
70.3
72.7

.1
-.5
-1.2
5.7
.4
.6
1.1
.2
-.7

-.2
-.9
.6
4.9
-.1
1.1
-.1
-.1
-.4

-.5
-1.4
2.5
4.7
.0
1.9
-1.7
-.5
-.5

-1.0
-1.6
3.5
2.4
.5
3.5
-3.7
-1.0
-1.5

1133,5111

84.2

84.1

82.2

80.2

72.6

-1.2

1.5

1.1

.6

21
2211,2

87.6
86.8

85.4
85.3

90.8
83.7

89.8
85.2

89.5
83.0

-.1
-.4

-.5
-.7

-.1
-.7

-.4
-1.2

3341
3342

78.2
78.1
76.2

77.4
74.3
67.5

82.8
79.5
82.3

79.6
81.6
77.3

70.7
74.0
74.5

2.2
.0
5.7

2.9
2.0
8.9

-.9
3.0
-3.6

2.4
13.6
-5.1

334412–9

80.6

84.6

84.9

80.0

66.4

.4

-.3

-1.3

1.1

Measures excluding selected high-technology
industries
Total industry
Manufacturing1

81.0
79.7

80.5
79.3

80.5
78.8

80.5
78.7

74.4
71.1

-.2
-.2

-.3
-.2

-.5
-.5

-.8
-.8

S TAGE - OF - PROCESS GROUPS
Crude
Primary and semifinished
Finished

86.6
82.0
77.7

83.1
82.6
76.6

88.7
80.7
77.6

88.3
80.7
77.2

83.9
73.5
71.1

-.2
-.7
.7

-.4
-.7
.6

-.8
-.6
-.4

-1.6
-.6
-.6

Item

Total industry
1

Manufacturing
Manufacturing (NAICS)
Durable manufacturing
Wood products
Nonmetallic mineral products
Primary metal
Fabricated metal products
Machinery
Computer and electronic products
Electrical equip., appliances,
and components
Motor vehicles and parts
Aerospace and miscellaneous
transportation equipment
Furniture and related products
Miscellaneous
Nondurable manufacturing
Food, beverage, and tobacco products
Textile and product mills
Apparel and leather
Paper
Printing and support
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Mining
Utilities

Selected high-technology industries
Computers and peripheral equipment
Communications equipment
Semiconductors and related
electronic components

N OTE . Estimates for the fourth quarter of 2008 are subject to further revision in the upcoming monthly releases.
1. See footnote 2 to table 3.

24

Table 7A
I NDUSTRIAL P RODUCTION : Manufacturing 1
Seasonally adjusted

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual2

-.9
.4
-.4
-2.3

.5
.0
-.6
2.7

.4
-.7
.4
-.8

-1.5
-2.1
.3
-.7

1.2
-3.0
.6
-.2

.2
-1.5
-.5
-.3

.1
-1.0
.2
-.1

-1.3
.7
.2
-.9

.3
1.6
-.5
-.3

.4
1.8
-1.0
-1.1

-.2
1.9
-1.1
-.6

.3
.3
-1.7
-.3

1.6
1.0
.7
-9.0

-.8
-18.6
2.6
-2.3

-.9
-7.8
.2
-4.1

.1
19.6
-9.8
-7.9

3.1
-3.5
1.1
-5.4

1983
1984
1985
1986
1987

2.4
1.8
-.4
1.1
-.3

-.1
1.1
-.3
-.6
1.4

1.0
.5
.8
-.3
.1

1.1
.5
-.3
.4
.5

1.3
.3
.1
.1
.7

.7
.5
.2
-.3
.4

1.5
.4
-.5
.5
.7

.8
.1
.5
.3
.5

1.9
-.1
.1
.2
.6

1.1
.4
-.3
.4
1.6

.3
.3
.6
.5
.6

.2
.4
.4
.9
.6

9.4
12.7
.0
4.5
6.1

12.0
6.2
.8
-.1
6.7

15.0
3.6
.0
2.5
7.1

12.5
2.8
2.2
5.2
11.7

4.8
9.8
1.6
2.2
5.7

1988
1989
1990
1991
1992

-.2
.8
-.1
-.8
-.6

.2
-.9
1.4
-.6
.9

.3
-.1
.5
-.7
1.0

.9
.1
-.3
.3
.5

-.1
-.9
.1
.7
.6

.1
.2
.2
1.1
.3

.1
-1.1
-.2
.2
.8

.1
.9
.2
.2
-.4

.3
-.2
.0
1.1
.1

.5
-.2
-.8
-.2
.6

.3
.2
-1.1
-.3
.4

.4
.1
-.8
-.1
-.2

2.6
1.8
4.6
-8.8
.6

4.5
-3.1
2.7
2.1
8.2

1.4
-2.9
.6
7.1
4.0

4.5
.6
-6.7
1.6
2.8

5.4
.8
.8
-2.0
3.6

1993
1994
1995
1996
1997

1.1
.2
.3
-.8
.1

.1
.1
-.1
1.7
1.4

-.2
1.3
.2
-.2
1.2

.6
.8
-.1
1.0
-.2

-.1
.7
.0
.7
.9

-.1
.3
.4
1.1
.7

.3
.4
-.6
.3
.4

-.1
.7
1.2
.6
1.7

.6
.3
.9
.7
.9

.8
1.0
-.1
-.1
.6

.4
.8
.1
.8
1.1

.5
1.1
.4
.9
.5

4.5
5.0
5.4
2.1
9.4

1.4
9.5
.6
9.1
7.6

1.3
5.9
3.2
7.8
10.8

6.8
9.8
4.2
5.8
11.1

3.5
5.9
5.2
4.8
8.5

1998
1999
2000
2001
2002

.8
.4
.1
-.6
.4

.0
.7
.3
-.6
.0

-.1
-.1
.7
-.3
.7

.6
.3
.6
-.2
.0

.6
.9
-.1
-.8
.7

-.7
-.4
.2
-.7
1.1

-.5
.5
.0
-.3
-.4

2.5
.8
-.5
-.7
.3

-.3
-.3
.5
-.3
.1

.9
1.6
-.4
-.7
-.5

.2
.7
-.3
-.2
.4

.5
.7
-.7
.2
-.5

6.0
5.0
5.3
-6.6
3.0

2.7
4.2
4.7
-5.5
5.2

3.0
3.8
-.5
-6.3
2.9

7.3
9.8
-2.8
-4.8
-.9

6.7
5.0
4.5
-4.1
-.1

2003
2004
2005
2006
2007

.6
.1
.7
.7
-.6

.1
.7
.8
-.3
.3

.3
-.3
-.4
-.1
.4

-1.0
.5
.1
.5
.3

.1
.7
.5
-.3
.0

.5
-.8
.2
.3
.3

.1
.8
.0
.1
.6

-.2
.6
.3
.3
-.4

.8
-.2
-1.0
-.2
.4

.1
1.0
1.6
-.5
-.4

1.1
.0
.9
-.2
.4

-.2
.7
.1
1.2
.3

2.4
2.5
6.2
3.3
1.7

-2.0
2.9
1.9
1.0
3.2

2.3
3.6
.5
1.4
2.4

4.6
5.2
6.6
-.9
.1

1.3
3.0
4.0
2.5
1.4

2008
2009

-.3
-2.8

-.5
-.7

-.1

-.9

-.2

-.4

-.3

-.9

-3.7

.5

-2.2

-2.9

-1.2

-5.4

-9.3

-17.3

-3.1

IP (2002=100)
1979
1980
1981
1982

53.6
53.9
52.6
49.5

53.9
53.9
52.3
50.8

54.1
53.5
52.5
50.4

53.3
52.4
52.6
50.1

53.9
50.8
52.9
50.0

54.0
50.0
52.7
49.8

54.0
49.5
52.8
49.8

53.3
49.9
52.9
49.3

53.5
50.7
52.6
49.2

53.7
51.6
52.1
48.7

53.5
52.6
51.5
48.4

53.7
52.7
50.7
48.2

53.8
53.8
52.4
50.2

53.7
51.1
52.8
49.9

53.6
50.0
52.8
49.4

53.6
52.3
51.4
48.4

53.7
51.8
52.4
49.5

1983
1984
1985
1986
1987

49.4
55.5
57.7
59.1
60.2

49.3
56.1
57.5
58.7
61.1

49.8
56.4
58.0
58.6
61.1

50.4
56.6
57.8
58.8
61.4

51.0
56.8
57.8
58.9
61.9

51.4
57.0
57.9
58.7
62.1

52.1
57.3
57.6
59.0
62.5

52.6
57.4
57.9
59.2
62.8

53.5
57.3
58.0
59.3
63.2

54.2
57.5
57.8
59.5
64.2

54.3
57.7
58.2
59.8
64.6

54.5
57.9
58.4
60.3
65.0

49.5
56.0
57.7
58.8
60.8

50.9
56.8
57.8
58.8
61.8

52.7
57.3
57.8
59.1
62.9

54.3
57.7
58.2
59.9
64.6

51.9
57.0
57.9
59.2
62.5

1988
1989
1990
1991
1992

64.9
67.5
66.1
65.1
65.9

65.0
66.8
67.1
64.8
66.6

65.2
66.8
67.4
64.3
67.2

65.8
66.8
67.2
64.5
67.5

65.7
66.3
67.3
65.0
68.0

65.8
66.4
67.4
65.7
68.2

65.9
65.7
67.3
65.9
68.7

65.9
66.3
67.5
66.0
68.4

66.2
66.1
67.5
66.7
68.5

66.5
66.0
66.9
66.6
68.9

66.7
66.1
66.2
66.4
69.2

67.0
66.2
65.7
66.4
69.0

65.0
67.0
66.9
64.7
66.6

65.8
66.5
67.3
65.1
67.9

66.0
66.0
67.4
66.2
68.6

66.7
66.1
66.3
66.5
69.0

65.9
66.4
67.0
65.6
68.0

1993
1994
1995
1996
1997

69.8
71.9
77.8
79.0
85.1

69.9
72.0
77.8
80.3
86.3

69.8
73.0
77.9
80.2
87.3

70.1
73.6
77.8
81.0
87.1

70.0
74.1
77.9
81.5
87.9

69.9
74.3
78.2
82.4
88.5

70.2
74.6
77.7
82.6
88.8

70.1
75.1
78.7
83.1
90.4

70.5
75.4
79.4
83.7
91.2

71.1
76.1
79.3
83.6
91.7

71.4
76.7
79.3
84.3
92.7

71.8
77.6
79.7
85.0
93.2

69.8
72.3
77.8
79.8
86.3

70.0
74.0
78.0
81.6
87.8

70.3
75.1
78.6
83.1
90.1

71.4
76.8
79.4
84.3
92.5

70.4
74.5
78.5
82.2
89.2

1998
1999
2000
2001
2002

93.9
97.7
103.3
102.8
98.5

93.9
98.4
103.6
102.2
98.5

93.8
98.3
104.3
101.9
99.2

94.4
98.6
104.9
101.6
99.2

94.9
99.5
104.8
100.8
99.9

94.3
99.2
105.0
100.1
100.9

93.8
99.6
105.0
99.8
100.5

96.1
100.4
104.5
99.1
100.8

95.8
100.1
104.9
98.8
100.9

96.6
101.7
104.5
98.1
100.4

96.8
102.4
104.2
97.9
100.8

97.3
103.1
103.5
98.1
100.3

93.9
98.1
103.7
102.3
98.8

94.5
99.1
104.9
100.9
100.0

95.2
100.0
104.8
99.2
100.7

96.9
102.4
104.1
98.0
100.5

95.1
99.9
104.4
100.1
100.0

2003
2004
2005
2006
2007

100.9
102.6
107.2
111.1
111.4

101.1
103.3
108.0
110.8
111.7

101.3
103.0
107.6
110.6
112.2

100.4
103.5
107.7
111.2
112.5

100.5
104.2
108.2
110.9
112.5

101.0
103.4
108.4
111.3
112.9

101.1
104.3
108.3
111.3
113.5

100.8
104.9
108.7
111.7
113.0

101.6
104.7
107.6
111.5
113.4

101.7
105.8
109.3
110.9
112.9

102.8
105.7
110.2
110.8
113.3

102.5
106.4
110.3
112.1
113.7

101.1
103.0
107.6
110.9
111.7

100.6
103.7
108.1
111.1
112.6

101.2
104.6
108.2
111.5
113.3

102.3
106.0
110.0
111.3
113.3

101.3
104.3
108.5
111.2
112.7

2008
2009

113.4
98.0

112.8
97.4

112.7

111.7

111.5

111.0

110.8

109.7

105.7

106.2

103.9

100.9

113.0

111.4

108.7

103.7

109.2

Year
IP (percent
change)
1979
1980
1981
1982

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.
1. See footnote 2 to table 3.
2. Annual averages of industrial production are calculated from not seasonally adjusted indexes.

25

Table 7B
C APACITY AND U TILIZATION : Manufacturing 1
Seasonally adjusted

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual

Capacity
(percent of
2002 output)
1979
1980
1981
1982

63.0
65.0
67.0
69.1

63.2
65.1
67.2
69.2

63.4
65.3
67.4
69.4

63.5
65.4
67.6
69.5

63.7
65.6
67.8
69.7

63.9
65.7
67.9
69.8

64.0
65.9
68.1
69.9

64.2
66.1
68.3
70.0

64.4
66.3
68.5
70.1

64.5
66.4
68.6
70.2

64.7
66.6
68.8
70.3

64.8
66.8
68.9
70.3

63.2
65.1
67.2
69.2

63.7
65.6
67.8
69.7

64.2
66.1
68.3
70.0

64.7
66.6
68.8
70.3

63.9
65.9
68.0
69.8

1983
1984
1985
1986
1987

70.4
70.9
73.0
75.0
76.2

70.4
71.0
73.2
75.1
76.4

70.5
71.1
73.4
75.1
76.6

70.5
71.3
73.6
75.2
76.8

70.5
71.4
73.8
75.3
76.9

70.6
71.6
74.0
75.4
77.1

70.6
71.7
74.2
75.4
77.3

70.6
71.9
74.4
75.5
77.5

70.6
72.1
74.5
75.6
77.7

70.7
72.3
74.7
75.8
77.8

70.8
72.5
74.8
75.9
77.9

70.8
72.8
74.9
76.0
78.1

70.4
71.0
73.2
75.1
76.4

70.5
71.4
73.8
75.3
76.9

70.6
71.9
74.4
75.5
77.5

70.8
72.5
74.8
75.9
77.9

70.6
71.7
74.0
75.4
77.2

1988
1989
1990
1991
1992

78.1
79.0
81.1
83.0
84.5

78.2
79.1
81.2
83.2
84.7

78.3
79.2
81.4
83.3
84.9

78.3
79.4
81.6
83.4
85.1

78.4
79.6
81.8
83.5
85.3

78.4
79.7
82.0
83.7
85.5

78.5
79.9
82.1
83.8
85.7

78.5
80.1
82.3
83.9
85.9

78.6
80.3
82.4
84.0
86.1

78.7
80.5
82.6
84.1
86.3

78.7
80.7
82.7
84.2
86.5

78.8
80.9
82.9
84.4
86.7

78.2
79.1
81.2
83.2
84.7

78.4
79.6
81.8
83.5
85.3

78.5
80.1
82.3
83.9
85.9

78.7
80.7
82.7
84.2
86.5

78.5
79.9
82.0
83.7
85.6

1993
1994
1995
1996
1997

86.8
88.6
92.2
97.1
103.6

87.0
88.8
92.6
97.6
104.2

87.1
89.0
92.9
98.1
104.8

87.2
89.3
93.3
98.6
105.4

87.4
89.6
93.6
99.2
106.1

87.5
89.9
94.0
99.7
106.8

87.6
90.2
94.4
100.3
107.4

87.7
90.5
94.8
100.8
108.2

87.8
90.8
95.2
101.3
108.9

88.0
91.2
95.6
101.9
109.7

88.2
91.5
96.1
102.5
110.5

88.3
91.9
96.6
103.0
111.3

87.0
88.8
92.6
97.6
104.2

87.4
89.6
93.6
99.2
106.1

87.7
90.5
94.8
100.8
108.2

88.2
91.5
96.1
102.5
110.5

87.6
90.1
94.3
100.0
107.2

1998
1999
2000
2001
2002

112.1
120.7
127.5
133.7
137.4

112.9
121.3
128.0
134.1
137.5

113.7
121.9
128.6
134.6
137.6

114.5
122.5
129.1
135.0
137.7

115.3
123.0
129.7
135.4
137.7

116.1
123.6
130.2
135.7
137.7

116.8
124.1
130.7
136.0
137.7

117.5
124.7
131.2
136.3
137.7

118.2
125.2
131.7
136.6
137.7

118.9
125.8
132.2
136.8
137.7

119.5
126.3
132.7
137.0
137.7

120.1
126.9
133.2
137.2
137.6

112.9
121.3
128.0
134.1
137.5

115.3
123.0
129.7
135.3
137.7

117.5
124.7
131.2
136.3
137.7

119.5
126.3
132.7
137.0
137.7

116.3
123.8
130.4
135.7
137.6

2003
2004
2005
2006
2007

137.6
137.1
137.2
139.2
141.3

137.6
137.1
137.3
139.3
141.5

137.5
137.0
137.5
139.5
141.8

137.5
137.0
137.6
139.6
142.0

137.5
137.0
137.8
139.8
142.3

137.4
136.9
137.9
139.9
142.6

137.4
136.9
138.1
140.1
142.9

137.3
136.9
138.3
140.3
143.2

137.3
136.9
138.5
140.4
143.4

137.3
137.0
138.7
140.6
143.7

137.2
137.0
138.8
140.8
144.0

137.2
137.1
139.0
141.0
144.2

137.6
137.1
137.3
139.3
141.5

137.5
137.0
137.8
139.8
142.3

137.3
136.9
138.3
140.3
143.1

137.2
137.0
138.8
140.8
144.0

137.4
137.0
138.1
140.1
142.7

2008
2009

144.5
145.7

144.7
145.7

144.9

145.1

145.3

145.5

145.6

145.7

145.8

145.8

145.8

145.8

144.7

145.3

145.7

145.8

145.4

Utilization
(percent)
1979
1980
1981
1982

85.0
83.0
78.4
71.6

85.2
82.8
77.8
73.4

85.3
82.0
77.8
72.7

83.8
80.1
77.9
72.0

84.6
77.5
78.1
71.7

84.5
76.1
77.6
71.4

84.4
75.1
77.5
71.2

83.1
75.5
77.5
70.5

83.1
76.5
76.9
70.1

83.2
77.7
76.0
69.3

82.8
78.9
74.9
68.8

82.8
78.9
73.5
68.6

85.2
82.6
78.0
72.6

84.3
77.9
77.9
71.7

83.5
75.7
77.3
70.6

82.9
78.5
74.8
68.9

84.0
78.7
77.0
70.9

1983
1984
1985
1986
1987

70.2
78.2
79.0
78.8
79.0

70.1
79.0
78.6
78.3
79.9

70.7
79.2
79.0
78.0
79.8

71.5
79.5
78.5
78.2
80.0

72.4
79.5
78.3
78.2
80.4

72.8
79.7
78.3
77.9
80.5

73.9
79.9
77.7
78.2
80.8

74.4
79.8
77.9
78.3
81.1

75.8
79.4
77.8
78.4
81.4

76.6
79.5
77.5
78.6
82.5

76.8
79.5
77.8
78.8
82.9

76.9
79.6
78.0
79.4
83.3

70.3
78.8
78.9
78.3
79.6

72.2
79.6
78.3
78.1
80.3

74.7
79.7
77.8
78.3
81.1

76.8
79.6
77.8
78.9
82.9

73.5
79.4
78.2
78.4
81.0

1988
1989
1990
1991
1992

83.0
85.4
81.6
78.5
78.0

83.1
84.5
82.6
77.9
78.6

83.3
84.3
82.8
77.2
79.2

84.0
84.2
82.4
77.4
79.4

83.8
83.3
82.3
77.8
79.7

83.9
83.3
82.3
78.5
79.8

84.0
82.2
82.0
78.6
80.2

84.0
82.7
82.0
78.7
79.7

84.2
82.3
81.8
79.4
79.6

84.6
82.0
81.0
79.2
79.9

84.7
82.0
80.0
78.9
80.0

84.9
81.9
79.2
78.7
79.7

83.2
84.7
82.3
77.9
78.6

83.9
83.6
82.3
77.9
79.6

84.0
82.4
81.9
78.9
79.8

84.7
82.0
80.1
78.9
79.8

84.0
83.2
81.7
78.4
79.5

1993
1994
1995
1996
1997

80.4
81.2
84.4
81.4
82.1

80.3
81.1
84.0
82.3
82.8

80.1
82.0
83.9
81.7
83.3

80.4
82.4
83.5
82.1
82.6

80.2
82.7
83.2
82.2
82.9

80.0
82.7
83.2
82.6
82.9

80.1
82.7
82.4
82.4
82.7

79.9
83.0
83.0
82.5
83.5

80.3
83.0
83.4
82.6
83.7

80.8
83.5
82.9
82.1
83.6

81.0
83.8
82.5
82.3
83.9

81.2
84.5
82.5
82.5
83.7

80.2
81.4
84.1
81.8
82.8

80.2
82.6
83.3
82.3
82.8

80.1
82.9
82.9
82.5
83.3

81.0
83.9
82.6
82.3
83.7

80.4
82.7
83.2
82.2
83.2

1998
1999
2000
2001
2002

83.8
80.9
81.0
76.9
71.7

83.2
81.1
80.9
76.2
71.7

82.5
80.6
81.1
75.7
72.1

82.4
80.5
81.3
75.3
72.1

82.3
80.9
80.8
74.5
72.5

81.2
80.3
80.7
73.8
73.3

80.3
80.3
80.3
73.4
73.0

81.8
80.5
79.6
72.7
73.2

81.0
79.9
79.6
72.3
73.3

81.3
80.8
79.0
71.7
72.9

81.0
81.0
78.5
71.4
73.2

81.0
81.3
77.7
71.5
72.9

83.2
80.9
81.0
76.3
71.8

82.0
80.6
80.9
74.5
72.6

81.0
80.3
79.9
72.8
73.1

81.1
81.0
78.4
71.5
73.0

81.8
80.7
80.1
73.8
72.7

2003
2004
2005
2006
2007

73.3
74.8
78.1
79.8
78.8

73.5
75.4
78.7
79.5
78.9

73.7
75.2
78.3
79.3
79.1

73.0
75.6
78.3
79.6
79.2

73.1
76.1
78.5
79.3
79.1

73.5
75.5
78.6
79.5
79.1

73.6
76.2
78.4
79.5
79.4

73.4
76.6
78.6
79.6
78.9

74.0
76.5
77.7
79.4
79.1

74.1
77.2
78.8
78.9
78.6

74.9
77.2
79.4
78.7
78.7

74.8
77.6
79.4
79.5
78.8

73.5
75.1
78.3
79.6
79.0

73.2
75.7
78.5
79.5
79.1

73.7
76.4
78.2
79.5
79.1

74.6
77.3
79.2
79.0
78.7

73.7
76.2
78.6
79.4
79.0

2008
2009

78.5
67.3

78.0
66.8

77.8

77.0

76.7

76.3

76.1

75.3

72.5

72.8

71.3

69.2

78.1

76.7

74.6

71.1

75.1

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.
1. See footnote 2 to table 3.

26

Table 8A
I NDUSTRIAL P RODUCTION : Total Industry Excluding Selected High-Technology Industries1
Seasonally adjusted

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual2

-.8
.4
-.7
-2.0

.5
.0
-.6
1.8

.2
-.4
.5
-.8

-1.1
-2.2
-.7
-1.0

.7
-2.6
.6
-.7

-.1
-1.3
.5
-.5

-.3
-.8
.7
-.5

-.9
.3
-.1
-.8

.0
1.7
-.7
-.5

.5
1.2
-.8
-.9

-.2
1.7
-1.1
-.4

.0
.5
-1.2
-.8

.6
.6
.1
-8.5

-1.3
-16.9
.1
-6.0

-2.7
-7.0
3.7
-6.7

.3
16.2
-9.5
-7.8

2.1
-3.6
.6
-6.0

1983
1984
1985
1986
1987

1.9
2.0
-.4
.5
-.5

-.7
.4
.6
-.7
1.2

.7
.4
.1
-.7
.2

1.1
.5
-.1
.1
.5

.7
.4
.1
.1
.6

.4
.3
.0
-.2
.4

1.4
.2
-.5
.3
.5

1.3
-.1
.3
-.2
.6

1.3
-.2
.5
.1
.2

.8
-.2
-.4
.4
1.4

.2
.3
.3
.4
.5

.4
.1
1.1
.8
.4

3.9
11.5
.9
2.4
4.5

8.2
5.1
1.0
-2.6
6.2

13.5
1.6
-.3
.5
6.0

9.6
-.2
2.5
4.1
9.1

1.8
7.9
1.0
.9
4.3

1988
1989
1990
1991
1992

.0
.3
-.7
-.4
-.8

.4
-.4
.9
-.7
.7

.2
.3
.5
-.6
.8

.5
-.1
-.2
.2
.6

-.1
-.7
.1
1.0
.3

.2
.0
.2
1.0
-.1

.1
-1.1
-.2
.0
.8

.5
.9
.2
.0
-.6

-.4
-.3
.2
.9
.1

.5
-.2
-.8
-.2
.6

.2
.2
-1.3
-.2
.3

.4
.6
-.7
-.5
.0

3.1
1.9
2.3
-8.0
-2.0

2.8
-1.8
2.3
2.2
6.1

1.5
-3.3
.9
5.4
1.8

2.6
1.0
-6.7
.5
2.9

4.4
.6
.3
-2.0
1.9

1993
1994
1995
1996
1997

.5
.4
.2
-1.0
-.1

.3
.0
-.2
1.4
.9

-.1
.9
-.1
-.3
.5

.3
.3
-.3
.7
-.4

-.5
.4
.0
.5
.3

.2
.6
.1
.7
.2

.4
.0
-.5
-.4
.2

-.1
.3
1.1
.4
1.1

.3
.0
.1
.4
.7

.7
.6
-.5
-.3
.6

.3
.4
.1
.8
.7

.5
.9
.2
.5
.1

3.2
4.4
3.0
-.4
5.1

.2
5.4
-1.4
6.2
2.2

1.5
3.2
1.4
2.2
6.0

5.1
5.6
.4
3.2
7.9

2.5
4.0
2.4
1.7
4.2

1998
1999
2000
2001
2002

.2
.2
-.4
-.7
.7

-.1
.1
.1
-.5
-.1

-.1
-.1
.1
-.3
.8

.2
-.1
.4
-.1
.2

.6
.6
-.1
-.7
.5

-.9
-.5
.0
-.5
.8

-.8
.3
-.5
-.3
-.4

2.0
.4
-.4
-.3
.0

-.6
-.5
.4
-.4
.1

.5
1.2
-.5
-.6
-.3

-.3
.3
-.2
-.4
.4

.0
.5
-.6
-.1
-.6

1.9
.8
.4
-6.3
2.8

1.0
.3
1.7
-4.4
5.4

-.3
1.2
-2.7
-4.6
1.3

2.0
5.8
-2.7
-4.9
-1.0

3.1
1.2
1.1
-4.0
-.1

2003
2004
2005
2006
2007

.7
.2
.4
.0
-.5

.1
.5
.6
-.1
.8

-.3
-.6
-.2
.2
-.3

-1.0
.5
-.1
.3
.3

-.1
.8
.2
-.2
.0

.0
-.9
.3
.3
-.1

.2
.7
-.2
.2
.2

-.1
.2
.0
.1
.0

.6
-.1
-2.0
-.4
.3

-.1
.9
1.1
-.1
-.7

.8
.3
1.1
-.2
.5

-.1
.7
.6
.9
.3

1.5
2.0
5.0
3.1
1.7

-4.5
1.9
.9
1.5
1.8

1.3
1.5
-2.1
1.2
1.0

3.2
5.4
2.8
-.9
-.1

.2
1.8
2.6
1.5
.9

2008
2009

-.1
-2.0

-.4
-1.4

-.5

-.7

-.3

-.2

.0

-1.1

-4.1

1.6

-1.1

-2.3

-.6

-5.3

-9.0

-11.6

-2.8

IP (2002=100)
1979
1980
1981
1982

76.4
76.2
74.2
70.7

76.8
76.2
73.8
72.0

77.0
75.9
74.2
71.4

76.1
74.3
73.7
70.7

76.7
72.3
74.2
70.2

76.6
71.4
74.5
69.9

76.4
70.8
75.0
69.5

75.7
71.0
74.9
69.0

75.7
72.2
74.4
68.6

76.1
73.1
73.8
68.0

76.0
74.4
73.0
67.7

75.9
74.8
72.1
67.2

76.7
76.1
74.1
71.3

76.5
72.7
74.1
70.3

75.9
71.4
74.8
69.0

76.0
74.1
73.0
67.6

76.3
73.6
74.0
69.6

1983
1984
1985
1986
1987

68.4
75.3
76.7
78.6
78.6

68.0
75.6
77.1
78.0
79.6

68.5
75.9
77.2
77.5
79.7

69.2
76.3
77.1
77.5
80.1

69.7
76.6
77.2
77.6
80.5

70.0
76.8
77.2
77.5
80.9

71.0
76.9
76.8
77.7
81.3

71.9
76.9
77.1
77.5
81.8

72.8
76.7
77.5
77.7
81.9

73.3
76.6
77.2
78.0
83.1

73.5
76.9
77.4
78.3
83.5

73.8
76.9
78.2
79.0
83.8

68.3
75.6
77.0
78.1
79.3

69.6
76.5
77.2
77.5
80.5

71.9
76.8
77.1
77.6
81.7

73.6
76.8
77.6
78.4
83.5

70.8
76.4
77.2
77.9
81.2

1988
1989
1990
1991
1992

83.8
86.1
84.9
83.6
83.6

84.2
85.7
85.6
82.9
84.2

84.3
86.0
86.0
82.4
84.8

84.7
85.9
85.9
82.6
85.3

84.6
85.3
86.0
83.4
85.6

84.7
85.3
86.2
84.2
85.5

84.8
84.4
86.0
84.2
86.1

85.2
85.2
86.2
84.3
85.6

84.9
84.9
86.3
85.0
85.7

85.3
84.7
85.7
84.9
86.3

85.5
84.9
84.6
84.7
86.5

85.8
85.4
83.9
84.3
86.5

84.1
85.9
85.5
83.0
84.2

84.7
85.5
86.0
83.4
85.4

85.0
84.8
86.2
84.5
85.8

85.5
85.0
84.7
84.6
86.4

84.8
85.3
85.6
83.9
85.5

1993
1994
1995
1996
1997

87.0
89.3
93.5
92.6
96.5

87.2
89.3
93.4
93.9
97.4

87.2
90.1
93.2
93.6
97.9

87.4
90.3
93.0
94.3
97.6

87.0
90.7
93.0
94.7
97.8

87.1
91.2
93.2
95.4
98.1

87.4
91.2
92.7
95.0
98.3

87.4
91.5
93.7
95.3
99.4

87.7
91.6
93.8
95.7
100.1

88.3
92.1
93.4
95.4
100.7

88.5
92.5
93.5
96.2
101.3

89.0
93.4
93.6
96.6
101.5

87.1
89.5
93.4
93.4
97.3

87.2
90.7
93.1
94.8
97.8

87.5
91.4
93.4
95.3
99.2

88.6
92.7
93.5
96.1
101.2

87.6
91.1
93.3
94.9
98.9

1998
1999
2000
2001
2002

101.7
102.5
104.4
102.3
98.7

101.6
102.6
104.4
101.7
98.6

101.5
102.5
104.5
101.4
99.4

101.8
102.4
105.0
101.3
99.7

102.4
103.0
104.9
100.6
100.1

101.5
102.5
104.9
100.1
100.9

100.7
102.8
104.3
99.8
100.6

102.7
103.2
103.9
99.5
100.5

102.1
102.7
104.3
99.1
100.6

102.5
104.0
103.8
98.6
100.3

102.2
104.3
103.6
98.1
100.6

102.2
104.8
103.0
98.0
100.0

101.6
102.5
104.5
101.8
98.9

101.9
102.6
104.9
100.7
100.2

101.8
102.9
104.2
99.5
100.5

102.3
104.4
103.5
98.2
100.3

101.9
103.1
104.3
100.1
100.0

2003
2004
2005
2006
2007

100.7
101.0
104.3
105.8
106.3

100.8
101.5
104.9
105.8
107.2

100.6
100.9
104.7
105.9
106.9

99.6
101.4
104.6
106.3
107.2

99.5
102.2
104.8
106.1
107.3

99.5
101.2
105.2
106.4
107.2

99.7
101.9
105.0
106.6
107.4

99.6
102.1
105.0
106.7
107.4

100.2
102.0
103.0
106.3
107.7

100.2
102.9
104.1
106.2
107.0

101.0
103.2
105.2
105.9
107.5

100.8
103.9
105.9
106.8
107.8

100.7
101.2
104.6
105.8
106.8

99.5
101.6
104.9
106.2
107.2

99.9
102.0
104.3
106.6
107.5

100.7
103.4
105.0
106.3
107.5

100.2
102.0
104.7
106.2
107.2

2008
2009

107.7
96.3

107.3
95.0

106.8

106.1

105.8

105.6

105.6

104.4

100.2

101.8

100.7

98.3

107.3

105.8

103.4

100.3

104.2

Year
IP (percent
change)
1979
1980
1981
1982

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.
1. High technology industries include computers, communications equipment, and semiconductors and related electronic components.
2. Annual averages of industrial production are calculated from not seasonally adjusted indexes.

27

Table 8B
C APACITY AND U TILIZATION : Total Industry Excluding Selected High-Technology Industries1
Seasonally adjusted

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual

Capacity
(percent of
2002 output)
1979
1980
1981
1982

88.9
90.7
92.4
94.2

89.1
90.8
92.5
94.3

89.2
90.9
92.7
94.5

89.4
91.1
92.8
94.6

89.5
91.2
93.0
94.7

89.7
91.4
93.2
94.8

89.8
91.5
93.3
94.9

90.0
91.6
93.5
94.9

90.1
91.8
93.6
95.0

90.3
91.9
93.8
95.0

90.4
92.1
93.9
95.0

90.5
92.2
94.1
95.0

89.0
90.8
92.5
94.3

89.5
91.2
93.0
94.7

90.0
91.6
93.5
94.9

90.4
92.1
93.9
95.0

89.7
91.4
93.2
94.7

1983
1984
1985
1986
1987

95.0
94.9
96.3
98.2
99.2

95.0
94.9
96.5
98.3
99.3

95.0
95.0
96.7
98.4
99.4

94.9
95.1
96.9
98.5
99.5

94.9
95.2
97.0
98.5
99.6

94.9
95.3
97.2
98.6
99.7

94.8
95.4
97.4
98.7
99.8

94.8
95.6
97.5
98.8
99.9

94.8
95.7
97.7
98.9
100.0

94.8
95.9
97.8
99.0
100.1

94.8
96.0
97.9
99.1
100.1

94.8
96.2
98.1
99.1
100.2

95.0
94.9
96.5
98.3
99.3

94.9
95.2
97.0
98.5
99.6

94.8
95.6
97.5
98.8
99.9

94.8
96.0
97.9
99.1
100.1

94.9
95.4
97.2
98.7
99.8

1988
1989
1990
1991
1992

100.2
100.7
102.6
104.3
105.7

100.2
100.9
102.8
104.4
105.8

100.3
101.0
102.9
104.5
105.9

100.3
101.1
103.1
104.7
106.0

100.3
101.3
103.2
104.8
106.1

100.3
101.4
103.3
104.9
106.2

100.3
101.6
103.5
105.0
106.3

100.4
101.8
103.6
105.2
106.4

100.4
101.9
103.7
105.3
106.5

100.5
102.1
103.9
105.4
106.6

100.6
102.3
104.0
105.5
106.7

100.6
102.4
104.1
105.6
106.7

100.2
100.9
102.8
104.4
105.8

100.3
101.3
103.2
104.8
106.1

100.4
101.8
103.6
105.2
106.4

100.6
102.3
104.0
105.5
106.7

100.4
101.5
103.4
105.0
106.3

1993
1994
1995
1996
1997

106.8
108.1
110.2
112.4
115.2

106.9
108.2
110.3
112.6
115.6

107.0
108.3
110.5
112.8
115.9

107.1
108.5
110.7
113.0
116.3

107.2
108.7
110.9
113.2
116.6

107.3
108.8
111.1
113.4
117.0

107.4
109.0
111.3
113.6
117.4

107.5
109.2
111.5
113.9
117.9

107.6
109.4
111.7
114.1
118.3

107.7
109.6
111.9
114.4
118.7

107.8
109.8
112.0
114.7
119.2

107.9
110.0
112.2
114.9
119.6

106.9
108.2
110.3
112.6
115.6

107.2
108.7
110.9
113.2
116.6

107.5
109.2
111.5
113.9
117.9

107.8
109.8
112.0
114.7
119.2

107.3
109.0
111.2
113.6
117.3

1998
1999
2000
2001
2002

120.1
124.7
127.6
129.5
131.3

120.5
125.0
127.8
129.7
131.4

120.9
125.3
128.0
129.8
131.5

121.4
125.6
128.1
130.0
131.5

121.8
125.8
128.3
130.1
131.6

122.2
126.1
128.5
130.3
131.6

122.6
126.4
128.6
130.5
131.6

123.0
126.6
128.8
130.6
131.5

123.4
126.8
128.9
130.8
131.5

123.7
127.0
129.1
130.9
131.4

124.1
127.2
129.2
131.1
131.3

124.4
127.4
129.4
131.2
131.2

120.5
125.0
127.8
129.7
131.4

121.8
125.8
128.3
130.1
131.6

123.0
126.6
128.8
130.6
131.5

124.1
127.2
129.2
131.0
131.3

122.3
126.2
128.5
130.4
131.4

2003
2004
2005
2006
2007

131.1
130.3
130.0
130.7
132.4

130.9
130.3
130.0
130.8
132.5

130.8
130.3
129.9
131.0
132.6

130.7
130.3
129.9
131.1
132.7

130.6
130.2
130.0
131.3
132.8

130.5
130.2
130.0
131.5
132.9

130.4
130.2
130.0
131.6
133.0

130.4
130.2
130.1
131.7
133.1

130.3
130.1
130.2
131.9
133.2

130.3
130.1
130.3
132.0
133.4

130.3
130.0
130.4
132.1
133.5

130.3
130.0
130.5
132.3
133.6

130.9
130.3
130.0
130.8
132.5

130.6
130.2
130.0
131.3
132.8

130.4
130.2
130.1
131.7
133.1

130.3
130.0
130.4
132.1
133.5

130.6
130.2
130.1
131.5
133.0

2008
2009

133.8
134.7

133.9
134.6

134.0

134.2

134.3

134.4

134.5

134.6

134.7

134.7

134.7

134.7

133.9

134.3

134.6

134.7

134.4

Utilization
(percent)
1979
1980
1981
1982

85.9
84.0
80.4
75.0

86.2
83.9
79.8
76.3

86.3
83.5
80.1
75.6

85.2
81.6
79.4
74.8

85.7
79.3
79.7
74.1

85.4
78.1
80.0
73.7

85.0
77.4
80.4
73.3

84.2
77.5
80.2
72.7

84.1
78.7
79.5
72.3

84.3
79.5
78.7
71.6

84.0
80.8
77.7
71.3

83.9
81.1
76.7
70.7

86.2
83.8
80.1
75.6

85.4
79.7
79.7
74.2

84.4
77.9
80.0
72.7

84.1
80.5
77.7
71.2

85.0
80.5
79.4
73.4

1983
1984
1985
1986
1987

72.0
79.4
79.6
80.1
79.2

71.6
79.6
79.9
79.4
80.1

72.1
79.9
79.8
78.8
80.1

72.9
80.2
79.6
78.7
80.4

73.5
80.5
79.5
78.8
80.8

73.8
80.6
79.4
78.5
81.1

74.9
80.6
78.9
78.7
81.4

75.8
80.5
79.0
78.5
81.8

76.8
80.2
79.3
78.5
81.9

77.4
79.9
78.9
78.8
83.0

77.5
80.1
79.0
79.1
83.4

77.9
80.0
79.8
79.6
83.7

71.9
79.6
79.7
79.4
79.8

73.4
80.4
79.5
78.7
80.8

75.8
80.4
79.1
78.6
81.7

77.6
80.0
79.2
79.2
83.4

74.7
80.1
79.4
79.0
81.4

1988
1989
1990
1991
1992

83.6
85.4
82.7
80.1
79.0

84.0
85.0
83.3
79.4
79.6

84.1
85.2
83.6
78.9
80.1

84.5
85.0
83.3
78.9
80.5

84.3
84.2
83.3
79.6
80.6

84.5
84.1
83.4
80.3
80.5

84.5
83.1
83.1
80.2
81.0

84.9
83.7
83.2
80.1
80.5

84.5
83.3
83.2
80.8
80.5

84.9
83.0
82.5
80.5
80.9

85.0
83.0
81.3
80.3
81.1

85.3
83.4
80.6
79.8
81.1

83.9
85.2
83.2
79.5
79.6

84.4
84.4
83.3
79.6
80.5

84.7
83.3
83.2
80.4
80.7

85.1
83.1
81.4
80.2
81.0

84.5
84.0
82.8
79.9
80.4

1993
1994
1995
1996
1997

81.4
82.6
84.9
82.4
83.8

81.6
82.5
84.6
83.4
84.3

81.4
83.1
84.4
83.0
84.5

81.6
83.2
84.0
83.4
83.9

81.1
83.4
83.9
83.7
83.9

81.2
83.8
83.8
84.1
83.8

81.4
83.7
83.2
83.6
83.7

81.3
83.8
84.0
83.7
84.3

81.5
83.7
84.0
83.8
84.6

82.0
84.1
83.5
83.4
84.8

82.1
84.3
83.4
83.9
85.0

82.4
84.9
83.4
84.1
84.8

81.5
82.8
84.6
82.9
84.2

81.3
83.5
83.9
83.7
83.9

81.4
83.7
83.8
83.7
84.2

82.2
84.4
83.4
83.8
84.9

81.6
83.6
83.9
83.5
84.3

1998
1999
2000
2001
2002

84.7
82.2
81.8
79.0
75.2

84.3
82.1
81.7
78.5
75.1

84.0
81.8
81.7
78.1
75.6

83.8
81.5
81.9
77.9
75.8

84.1
81.8
81.7
77.3
76.1

83.0
81.3
81.6
76.8
76.7

82.1
81.3
81.1
76.5
76.4

83.5
81.5
80.7
76.2
76.4

82.7
81.0
80.9
75.8
76.5

82.9
81.9
80.4
75.3
76.3

82.4
81.9
80.2
74.9
76.7

82.2
82.3
79.6
74.7
76.2

84.3
82.0
81.7
78.5
75.3

83.7
81.5
81.8
77.4
76.2

82.8
81.3
80.9
76.2
76.5

82.5
82.0
80.1
75.0
76.4

83.3
81.7
81.1
76.7
76.1

2003
2004
2005
2006
2007

76.8
77.6
80.2
81.0
80.3

77.0
77.9
80.7
80.8
80.9

76.9
77.4
80.6
80.9
80.6

76.2
77.9
80.5
81.0
80.8

76.2
78.5
80.7
80.8
80.8

76.2
77.7
80.9
81.0
80.7

76.5
78.3
80.7
81.0
80.7

76.4
78.4
80.7
81.0
80.7

76.9
78.4
79.1
80.6
80.8

76.9
79.1
79.9
80.4
80.2

77.5
79.4
80.7
80.2
80.6

77.4
79.9
81.1
80.8
80.7

76.9
77.6
80.5
80.9
80.6

76.2
78.0
80.7
80.9
80.7

76.6
78.4
80.2
80.9
80.7

77.3
79.5
80.5
80.5
80.5

76.7
78.4
80.5
80.8
80.6

2008
2009

80.5
71.5

80.2
70.6

79.7

79.1

78.8

78.6

78.5

77.6

74.4

75.5

74.7

73.0

80.1

78.8

76.8

74.4

77.5

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.
1. High technology industries include computers, communications equipment, and semiconductors and related electronic components.

28

Table 9A
I NDUSTRIAL P RODUCTION : Manufacturing1 Excluding Selected High-Technology Industries2
Seasonally adjusted

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual3

-1.1
.3
-.5
-2.4

.4
-.1
-.7
2.5

.4
-.9
.3
-.8

-1.6
-2.3
.2
-.8

1.2
-3.2
.5
-.3

.0
-1.6
-.5
-.3

.0
-1.1
.2
-.3

-1.5
.6
.0
-.8

.2
1.7
-.6
-.4

.3
1.8
-1.1
-1.2

-.4
1.9
-1.2
-.7

.2
.2
-1.8
-.5

.3
-.4
-.4
-10.2

-1.8
-20.1
1.5
-3.4

-2.5
-8.7
-.8
-5.0

-1.4
19.4
-11.1
-9.0

1.9
-4.9
.1
-6.6

1983
1984
1985
1986
1987

2.4
1.8
-.5
1.2
-.4

-.2
1.0
-.2
-.6
1.4

.8
.3
.8
-.4
.1

1.0
.4
-.2
.4
.4

1.2
.1
.1
.1
.6

.6
.3
.1
-.2
.2

1.3
.3
-.4
.2
.6

.9
.0
.5
.2
.4

1.5
-.2
.2
.2
.5

1.1
.4
-.3
.3
1.5

.2
.2
.6
.4
.6

.2
.4
.4
.8
.5

8.4
11.6
-.3
4.8
4.9

10.7
4.6
1.7
-.3
5.7

13.8
2.1
.6
1.1
5.5

11.0
2.0
2.3
4.4
10.5

3.7
8.5
1.4
2.2
4.6

1988
1989
1990
1991
1992

-.2
.8
-.2
-.8
-.9

.2
-1.0
1.4
-.7
.9

.2
.0
.4
-.8
.9

.8
.0
-.3
.4
.4

-.2
-.9
.1
.6
.5

.1
.2
.2
1.1
.1

.0
-1.3
-.2
.3
.8

.1
.9
.2
.1
-.5

.3
-.3
-.1
1.1
-.1

.5
-.3
-.9
-.2
.4

.3
.1
-1.2
-.3
.3

.4
.0
-.8
-.3
-.2

2.0
2.2
3.7
-9.6
-1.2

3.6
-3.4
2.0
1.5
6.9

.6
-4.0
.1
7.1
2.6

4.2
-.5
-7.5
1.2
1.4

4.4
.4
.0
-2.6
2.6

1993
1994
1995
1996
1997

1.1
.1
.2
-1.2
-.2

.0
.1
-.3
1.4
1.1

-.3
1.2
-.1
-.5
.9

.5
.5
-.4
1.0
-.7

-.2
.5
-.2
.5
.5

-.2
.2
.2
.8
.4

.3
.3
-.8
.0
.0

-.2
.5
.9
.3
1.4

.5
.1
.6
.5
.6

.8
.7
-.4
-.4
.5

.3
.5
-.1
.7
.9

.5
.9
.1
.7
.2

4.1
4.0
3.0
-1.9
6.2

.5
7.1
-2.5
7.0
2.7

.5
3.7
.3
4.2
6.5

5.7
6.9
.8
3.0
8.3

2.5
4.4
2.5
1.5
4.9

1998
1999
2000
2001
2002

.6
.0
-.4
-.6
.6

-.2
.4
-.1
-.5
-.1

-.3
-.4
.3
-.3
.8

.3
.0
.4
-.1
-.1

.5
.8
-.5
-.7
.6

-1.1
-.7
.1
-.5
1.0

-.9
.0
-.3
-.1
-.5

2.4
.7
-.8
-.7
.2

-.7
-.5
.4
-.3
.1

.7
1.5
-.5
-.7
-.5

-.1
.4
-.6
-.2
.3

.2
.4
-.9
.1
-.7

3.1
.8
.1
-7.4
3.5

.1
.2
.9
-4.5
4.6

-.6
.4
-3.4
-5.0
1.9

3.8
7.2
-4.7
-4.8
-1.7

3.5
1.4
.8
-4.9
.0

2003
2004
2005
2006
2007

.6
-.1
.6
.7
-.7

-.1
.7
.7
-.4
.3

.1
-.3
-.5
-.2
.4

-1.1
.5
.0
.5
.2

.0
.8
.4
-.4
.0

.4
-.9
.1
.2
.2

-.1
.9
-.2
.0
.4

-.3
.6
.1
.2
-.5

.8
-.3
-1.3
-.3
.3

-.1
1.0
1.5
-.5
-.6

1.0
.0
.8
-.2
.3

-.3
.6
.0
1.2
.2

.7
1.5
5.5
2.6
1.5

-3.8
3.1
.9
.0
2.4

.8
3.3
-1.2
.3
1.0

3.6
4.9
5.1
-1.2
-1.2

.0
2.2
3.2
1.5
.7

2008
2009

-.3
-2.9

-.7
-.5

-.2

-1.0

-.2

-.4

-.2

-.9

-3.8

.7

-1.9

-2.8

-2.3

-6.4

-9.3

-16.3

-4.0

IP (2002=100)
1979
1980
1981
1982

75.2
74.6
72.0
67.0

75.5
74.6
71.5
68.7

75.8
73.9
71.8
68.1

74.6
72.2
71.9
67.6

75.5
69.9
72.3
67.4

75.5
68.8
71.9
67.1

75.4
68.0
72.0
66.9

74.3
68.5
72.0
66.4

74.4
69.6
71.6
66.1

74.6
70.9
70.8
65.3

74.3
72.2
69.9
64.9

74.4
72.4
68.6
64.6

75.5
74.4
71.8
67.9

75.2
70.3
72.0
67.3

74.7
68.7
71.9
66.5

74.4
71.8
69.8
64.9

75.0
71.3
71.3
66.7

1983
1984
1985
1986
1987

66.1
73.5
75.5
77.8
78.6

66.0
74.2
75.4
77.3
79.7

66.6
74.5
76.0
77.0
79.7

67.3
74.7
75.8
77.3
80.0

68.1
74.8
75.9
77.4
80.5

68.5
75.1
76.0
77.3
80.7

69.4
75.4
75.7
77.4
81.2

70.0
75.3
76.1
77.6
81.5

71.1
75.2
76.3
77.7
81.9

71.9
75.5
76.1
77.9
83.1

72.1
75.6
76.5
78.3
83.6

72.2
75.9
76.8
78.9
84.0

66.3
74.1
75.6
77.4
79.3

68.0
74.9
75.9
77.3
80.4

70.2
75.3
76.0
77.5
81.5

72.0
75.7
76.5
78.4
83.6

69.1
75.0
76.0
77.7
81.2

1988
1989
1990
1991
1992

83.8
86.7
84.3
82.6
82.9

84.0
85.9
85.5
82.0
83.7

84.1
85.9
85.9
81.3
84.4

84.8
85.9
85.6
81.6
84.8

84.7
85.1
85.7
82.1
85.2

84.7
85.3
85.8
83.0
85.3

84.7
84.2
85.6
83.3
86.0

84.8
84.9
85.8
83.4
85.5

85.0
84.7
85.7
84.3
85.5

85.4
84.4
85.0
84.2
85.8

85.7
84.5
83.9
83.9
86.1

86.0
84.5
83.2
83.7
85.9

84.0
86.2
85.2
82.0
83.7

84.7
85.4
85.7
82.3
85.1

84.8
84.6
85.7
83.7
85.6

85.7
84.5
84.0
83.9
85.9

84.8
85.2
85.2
83.0
85.1

1993
1994
1995
1996
1997

86.8
88.7
93.9
92.2
96.7

86.9
88.8
93.7
93.5
97.7

86.7
89.8
93.6
93.1
98.6

87.1
90.3
93.2
94.0
97.9

86.9
90.8
93.0
94.4
98.3

86.7
90.9
93.2
95.2
98.7

87.0
91.1
92.5
95.2
98.8

86.8
91.6
93.3
95.5
100.1

87.3
91.7
93.8
95.9
100.8

87.9
92.4
93.4
95.5
101.3

88.2
92.9
93.3
96.2
102.1

88.6
93.8
93.4
96.9
102.3

86.8
89.1
93.7
92.9
97.7

86.9
90.7
93.1
94.5
98.3

87.0
91.5
93.2
95.5
99.9

88.3
93.0
93.4
96.2
101.9

87.2
91.1
93.4
94.8
99.4

1998
1999
2000
2001
2002

102.9
103.6
105.7
102.3
98.8

102.7
104.0
105.6
101.8
98.8

102.4
103.6
105.9
101.4
99.5

102.8
103.5
106.3
101.3
99.4

103.3
104.3
105.8
100.6
100.0

102.1
103.6
105.8
100.1
101.0

101.2
103.6
105.5
99.9
100.5

103.6
104.3
104.7
99.3
100.7

102.9
103.8
105.1
99.0
100.7

103.5
105.3
104.5
98.2
100.2

103.4
105.7
103.9
98.1
100.5

103.6
106.1
103.0
98.2
99.9

102.7
103.7
105.7
101.8
99.0

102.7
103.8
106.0
100.7
100.1

102.6
103.9
105.1
99.4
100.6

103.5
105.7
103.8
98.2
100.2

102.9
104.3
105.2
100.0
100.0

2003
2004
2005
2006
2007

100.4
100.5
104.7
107.4
106.9

100.3
101.2
105.5
106.9
107.1

100.4
100.9
105.0
106.7
107.5

99.3
101.4
105.0
107.3
107.8

99.3
102.2
105.4
106.8
107.7

99.7
101.3
105.6
107.0
107.9

99.6
102.2
105.4
107.0
108.4

99.2
102.8
105.5
107.3
107.8

100.0
102.4
104.2
107.0
108.1

99.9
103.5
105.8
106.5
107.5

100.9
103.5
106.6
106.3
107.8

100.6
104.1
106.6
107.6
108.0

100.4
100.8
105.1
107.0
107.2

99.4
101.6
105.3
107.0
107.8

99.6
102.5
105.0
107.1
108.1

100.5
103.7
106.3
106.8
107.7

100.0
102.2
105.4
107.0
107.7

2008
2009

107.7
93.1

107.0
92.7

106.7

105.6

105.4

105.0

104.8

103.8

99.9

100.6

98.6

95.9

107.1

105.4

102.8

98.4

103.4

Year
IP (percent
change)
1979
1980
1981
1982

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.
1. See footnote 2 to table 3. 2. High technology industries include computers, communications equipment, and semiconductors and related electronic components.
3. Annual averages of industrial production are calculated from not seasonally adjusted indexes.

29

Table 9B
C APACITY AND U TILIZATION : Manufacturing1 Excluding Selected High-Technology Industries2
Seasonally adjusted

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual

Capacity
(percent of
2002 output)
1979
1980
1981
1982

88.3
90.3
92.4
94.2

88.5
90.4
92.5
94.3

88.7
90.6
92.7
94.4

88.8
90.8
92.9
94.5

89.0
90.9
93.1
94.6

89.2
91.1
93.2
94.6

89.3
91.3
93.4
94.7

89.5
91.4
93.5
94.8

89.7
91.6
93.7
94.8

89.8
91.8
93.8
94.8

90.0
92.0
93.9
94.8

90.1
92.2
94.0
94.8

88.5
90.4
92.5
94.3

89.0
90.9
93.1
94.6

89.5
91.4
93.5
94.8

90.0
92.0
93.9
94.8

89.2
91.2
93.3
94.6

1983
1984
1985
1986
1987

94.8
94.5
96.1
98.0
99.2

94.8
94.6
96.3
98.1
99.4

94.8
94.6
96.5
98.2
99.5

94.7
94.7
96.7
98.3
99.7

94.7
94.8
96.9
98.4
99.8

94.6
94.9
97.1
98.4
99.9

94.6
95.1
97.3
98.5
100.1

94.5
95.2
97.4
98.6
100.2

94.5
95.4
97.6
98.7
100.3

94.5
95.6
97.7
98.8
100.4

94.5
95.7
97.8
98.9
100.4

94.5
95.9
97.9
99.1
100.5

94.8
94.6
96.3
98.1
99.4

94.7
94.8
96.9
98.4
99.8

94.5
95.2
97.4
98.6
100.2

94.5
95.7
97.8
99.0
100.4

94.6
95.1
97.1
98.5
99.9

1988
1989
1990
1991
1992

100.5
101.0
103.1
104.9
106.5

100.6
101.2
103.2
105.1
106.7

100.6
101.3
103.4
105.2
106.8

100.6
101.5
103.6
105.4
106.9

100.6
101.6
103.7
105.5
107.0

100.6
101.8
103.9
105.7
107.1

100.6
102.0
104.0
105.8
107.2

100.7
102.2
104.2
105.9
107.3

100.7
102.4
104.3
106.1
107.4

100.8
102.5
104.5
106.2
107.5

100.8
102.7
104.6
106.3
107.7

100.9
102.9
104.8
106.4
107.8

100.5
101.2
103.2
105.1
106.7

100.6
101.6
103.7
105.5
107.0

100.7
102.2
104.2
105.9
107.3

100.8
102.7
104.6
106.3
107.7

100.7
101.9
103.9
105.7
107.2

1993
1994
1995
1996
1997

107.9
109.2
111.3
113.9
117.2

108.0
109.3
111.5
114.1
117.6

108.1
109.5
111.7
114.4
118.0

108.2
109.6
111.9
114.6
118.4

108.3
109.8
112.1
114.8
118.8

108.4
109.9
112.3
115.1
119.3

108.5
110.1
112.6
115.4
119.7

108.6
110.3
112.8
115.6
120.2

108.7
110.5
113.0
115.9
120.7

108.8
110.7
113.2
116.2
121.2

108.9
110.9
113.4
116.5
121.7

109.0
111.1
113.7
116.9
122.3

108.0
109.3
111.5
114.1
117.6

108.3
109.8
112.1
114.8
118.8

108.6
110.3
112.8
115.6
120.2

108.9
110.9
113.4
116.5
121.7

108.4
110.1
112.5
115.3
119.6

1998
1999
2000
2001
2002

122.8
128.1
131.7
134.1
135.0

123.3
128.5
131.9
134.2
135.0

123.8
128.8
132.2
134.3
135.0

124.3
129.1
132.4
134.5
135.0

124.8
129.5
132.6
134.6
134.9

125.2
129.8
132.8
134.7
134.9

125.7
130.1
133.0
134.8
134.8

126.1
130.4
133.2
134.8
134.8

126.6
130.6
133.4
134.9
134.7

127.0
130.9
133.6
134.9
134.6

127.4
131.2
133.8
135.0
134.5

127.7
131.4
133.9
135.0
134.4

123.3
128.5
131.9
134.2
135.0

124.8
129.5
132.6
134.6
134.9

126.1
130.4
133.2
134.8
134.7

127.4
131.2
133.7
135.0
134.5

125.4
129.9
132.9
134.6
134.8

2003
2004
2005
2006
2007

134.3
133.4
133.2
134.3
135.8

134.2
133.4
133.3
134.5
135.9

134.1
133.3
133.3
134.6
136.0

134.0
133.3
133.4
134.7
136.1

133.9
133.3
133.4
134.9
136.2

133.8
133.2
133.5
135.0
136.3

133.7
133.2
133.6
135.1
136.4

133.7
133.2
133.7
135.3
136.5

133.6
133.2
133.8
135.4
136.7

133.5
133.2
133.9
135.5
136.8

133.5
133.2
134.1
135.6
137.0

133.4
133.2
134.2
135.7
137.1

134.2
133.4
133.3
134.5
135.9

133.9
133.3
133.4
134.9
136.2

133.7
133.2
133.7
135.3
136.5

133.5
133.2
134.1
135.6
137.0

133.8
133.3
133.6
135.0
136.4

2008
2009

137.3
138.2

137.5
138.1

137.6

137.8

137.9

138.1

138.2

138.3

138.3

138.4

138.3

138.3

137.5

137.9

138.3

138.3

138.0

Utilization
(percent)
1979
1980
1981
1982

85.2
82.7
77.9
71.1

85.4
82.4
77.3
72.9

85.5
81.6
77.4
72.2

84.0
79.6
77.4
71.5

84.8
76.9
77.7
71.2

84.6
75.5
77.1
70.9

84.4
74.6
77.1
70.7

83.0
74.9
77.0
70.1

83.0
76.0
76.4
69.7

83.1
77.2
75.4
68.9

82.6
78.5
74.4
68.4

82.6
78.5
73.0
68.1

85.4
82.2
77.5
72.1

84.5
77.3
77.4
71.2

83.5
75.1
76.8
70.2

82.7
78.1
74.3
68.5

84.0
78.2
76.5
70.5

1983
1984
1985
1986
1987

69.8
77.8
78.6
79.3
79.2

69.7
78.5
78.2
78.8
80.2

70.3
78.7
78.7
78.4
80.1

71.0
78.9
78.4
78.7
80.3

71.9
78.9
78.4
78.7
80.7

72.4
79.1
78.3
78.5
80.8

73.4
79.3
77.9
78.5
81.1

74.1
79.1
78.1
78.6
81.3

75.3
78.8
78.2
78.7
81.7

76.1
79.0
77.8
78.9
82.8

76.3
79.0
78.2
79.1
83.2

76.4
79.1
78.5
79.6
83.6

69.9
78.3
78.5
78.9
79.8

71.8
79.0
78.4
78.6
80.6

74.3
79.1
78.1
78.6
81.4

76.3
79.0
78.2
79.2
83.2

73.1
78.9
78.3
78.8
81.3

1988
1989
1990
1991
1992

83.4
85.9
81.8
78.7
77.8

83.5
84.9
82.9
78.0
78.4

83.7
84.8
83.0
77.3
79.1

84.3
84.7
82.6
77.4
79.3

84.2
83.8
82.6
77.8
79.6

84.2
83.7
82.6
78.6
79.7

84.2
82.5
82.3
78.7
80.2

84.2
83.1
82.3
78.7
79.7

84.4
82.7
82.2
79.5
79.5

84.8
82.3
81.3
79.3
79.8

85.0
82.3
80.2
78.9
80.0

85.2
82.1
79.4
78.6
79.7

83.5
85.2
82.6
78.0
78.5

84.2
84.1
82.6
78.0
79.5

84.3
82.8
82.2
79.0
79.8

85.0
82.2
80.3
78.9
79.8

84.3
83.6
81.9
78.5
79.4

1993
1994
1995
1996
1997

80.5
81.3
84.4
81.0
82.5

80.5
81.2
84.0
81.9
83.1

80.2
82.1
83.8
81.4
83.6

80.5
82.4
83.3
82.0
82.7

80.3
82.7
83.0
82.2
82.8

80.0
82.7
83.0
82.7
82.8

80.2
82.8
82.2
82.5
82.5

80.0
83.1
82.7
82.6
83.3

80.3
83.0
83.1
82.7
83.5

80.8
83.5
82.5
82.2
83.5

81.0
83.8
82.3
82.6
83.9

81.3
84.4
82.2
82.9
83.7

80.4
81.5
84.1
81.4
83.1

80.3
82.6
83.1
82.3
82.7

80.2
83.0
82.6
82.6
83.1

81.0
83.9
82.3
82.6
83.7

80.5
82.7
83.0
82.2
83.1

1998
1999
2000
2001
2002

83.8
80.9
80.3
76.3
73.2

83.3
81.0
80.0
75.8
73.1

82.7
80.4
80.2
75.5
73.7

82.7
80.2
80.3
75.4
73.7

82.8
80.6
79.8
74.8
74.1

81.5
79.8
79.7
74.3
74.9

80.5
79.7
79.3
74.2
74.5

82.1
80.0
78.6
73.6
74.7

81.3
79.4
78.8
73.4
74.8

81.5
80.4
78.3
72.8
74.5

81.2
80.6
77.7
72.7
74.8

81.1
80.7
76.9
72.8
74.3

83.3
80.8
80.2
75.9
73.3

82.3
80.2
79.9
74.8
74.2

81.3
79.7
78.9
73.7
74.7

81.3
80.6
77.6
72.7
74.5

82.1
80.3
79.1
74.3
74.2

2003
2004
2005
2006
2007

74.8
75.3
78.6
79.9
78.7

74.8
75.9
79.2
79.5
78.8

74.9
75.7
78.7
79.3
79.1

74.1
76.1
78.7
79.6
79.2

74.1
76.7
79.0
79.2
79.1

74.5
76.0
79.1
79.3
79.2

74.5
76.7
78.9
79.2
79.4

74.3
77.1
78.9
79.3
78.9

74.9
76.9
77.9
79.0
79.1

74.8
77.7
79.0
78.6
78.5

75.6
77.7
79.5
78.4
78.7

75.4
78.2
79.4
79.3
78.8

74.8
75.6
78.8
79.6
78.9

74.2
76.3
78.9
79.4
79.2

74.5
76.9
78.5
79.2
79.2

75.3
77.8
79.3
78.8
78.7

74.7
76.7
78.9
79.2
79.0

2008
2009

78.4
67.4

77.8
67.1

77.5

76.6

76.4

76.1

75.8

75.1

72.2

72.7

71.3

69.3

77.9

76.4

74.4

71.1

74.9

N OTE Estimates from October 2008 through February 2009 are subject to further revision in the upcoming monthly releases.
1. See footnote 2 to table 3.
2. High technology industries include computers, communications equipment, and semiconductors and related electronic components.

30

Table 10
A NNUAL P ROPORTIONS IN I NDUSTRIAL P RODUCTION , M ARKET AND I NDUSTRY G ROUP S UMMARY
Item

2001

2002

2003

2004

2005

2006

2007

2008

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

59.0
30.0
8.1
4.0
.4
1.4
2.3

58.9
31.0
8.9
4.7
.4
1.4
2.4

58.2
31.0
8.7
4.6
.4
1.3
2.3

57.0
30.2
8.0
4.0
.4
1.3
2.3

56.9
29.8
7.4
3.6
.4
1.3
2.2

56.8
29.3
7.1
3.3
.4
1.2
2.2

56.2
29.2
6.8
3.2
.3
1.1
2.1

57.0
29.5
6.3
2.9
.3
1.0
2.1

21.8
18.0
9.8
1.1
4.6
2.1
3.8

22.1
18.2
9.6
.8
5.2
2.1
3.9

22.2
18.0
9.6
.7
5.2
2.0
4.2

22.2
17.3
9.3
.6
5.1
1.9
4.9

22.4
16.7
8.9
.5
5.0
1.8
5.7

22.2
16.4
8.7
.4
5.1
1.7
5.8

22.4
16.2
8.8
.4
4.8
1.7
6.2

23.2
17.1
9.4
.4
5.1
1.7
6.1

Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment

11.2
2.0
3.9
5.3
1.6

10.2
1.8
3.2
5.2
1.6

9.6
1.6
3.0
5.0
1.6

9.4
1.6
3.0
4.9
1.5

9.3
1.6
2.8
4.8
1.6

9.6
1.8
2.9
5.0
1.5

9.3
1.6
2.8
4.9
1.5

9.5
1.5
2.9
5.0
1.7

Construction supplies
Business supplies

4.8
11.0

4.9
10.8

4.9
10.8

4.8
10.6

4.9
10.6

5.0
10.5

4.9
10.5

4.9
10.7

41.0
30.3
19.2
3.8
7.2
8.2
11.1
.8
2.8
4.1
10.7

41.1
30.1
18.7
4.0
6.5
8.1
11.4
.8
2.8
4.4
11.0

41.8
29.6
18.3
3.8
6.4
8.1
11.3
.7
2.5
4.5
12.2

43.0
29.7
18.2
3.6
6.3
8.3
11.4
.7
2.4
5.1
13.3

43.1
29.3
17.8
3.3
6.2
8.3
11.5
.7
2.3
5.3
13.8

43.2
29.3
17.7
3.2
6.0
8.5
11.6
.6
2.3
5.5
13.8

43.8
29.2
17.2
2.9
5.8
8.4
12.0
.5
2.3
5.9
14.6

43.0
29.0
16.8
2.7
5.9
8.2
12.2
.5
2.3
5.9
14.0

321
327
331
332
333
334

83.5
78.6
44.0
1.4
2.2
2.3
5.8
5.5
9.3

83.2
78.5
43.2
1.5
2.2
2.3
5.7
5.3
8.1

81.7
77.2
42.0
1.6
2.2
2.3
5.5
5.0
7.9

80.5
76.2
40.7
1.6
2.2
2.7
5.3
4.9
7.8

79.5
75.5
39.7
1.5
2.3
2.6
5.3
4.9
7.4

79.3
75.4
39.6
1.4
2.3
2.8
5.5
5.0
7.2

78.6
74.8
38.4
1.2
2.2
2.7
5.6
4.9
6.7

79.0
75.3
38.1
1.0
2.2
2.5
5.9
4.9
6.9

335
3361–3

2.4
6.5

2.2
7.4

2.0
7.2

1.9
6.4

1.9
5.9

1.9
5.5

1.9
5.1

2.0
4.5

3364–9
337
339

3.7
1.7
3.1

3.5
1.8
3.3

3.3
1.7
3.3

3.1
1.6
3.1

3.2
1.6
3.1

3.2
1.5
3.1

3.4
1.4
3.1

3.5
1.3
3.3

311,2
313,4
315,6
322
323
324
325
326

34.6
11.3
1.3
1.2
3.1
2.6
1.7
9.7
3.7

35.3
11.3
1.4
1.0
3.1
2.4
1.8
10.7
3.8

35.2
11.4
1.3
.9
2.9
2.2
2.1
10.8
3.6

35.5
10.9
1.2
.7
2.7
2.1
3.2
11.2
3.4

35.8
10.6
1.2
.6
2.6
2.0
4.2
11.3
3.3

35.7
10.4
1.1
.6
2.6
1.9
4.5
11.4
3.2

36.5
10.7
.9
.6
2.5
1.9
5.0
11.7
3.1

37.2
11.5
.9
.6
2.6
1.8
4.7
12.1
3.1

1133,5111

4.8

4.7

4.5

4.3

4.1

4.0

3.8

3.7

21
2211,2
2211
2212

7.1
9.4
8.0
1.4

7.2
9.6
8.2
1.4

8.5
9.8
8.2
1.6

9.8
9.7
8.0
1.7

10.7
9.8
8.0
1.8

11.0
9.7
8.0
1.6

11.7
9.7
8.1
1.7

10.6
10.4
8.6
1.7

Total IP
M ARKET G ROUPS
Final products and nonindustrial supplies
Consumer goods
Durable
Automotive products
Home electronics
Appliances, furniture, carpeting
Miscellaneous goods
Nondurable
Non-energy
Foods and tobacco
Clothing
Chemical products
Paper products
Energy

Materials
Non-energy
Durable
Consumer parts
Equipment parts
Other
Nondurable
Textile
Paper
Chemical
Energy
I NDUSTRY G ROUPS
Manufacturing
Manufacturing (NAICS)
Durable manufacturing
Wood products
Nonmetallic mineral products
Primary metal
Fabricated metal products
Machinery
Computer and electronic products
Electrical equip., appliances,
and components
Motor vehicles and parts
Aerospace and miscellaneous
transportation equipment
Furniture and related products
Miscellaneous
Nondurable manufacturing
Food, beverage, and tobacco products
Textile and product mills
Apparel and leather
Paper
Printing and support
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Mining
Utilities
Electric
Natural gas

31–33

NOTE. The IP proportion data are estimates of the industries’ relative contributions to overall IP change between the reference year and the following year. For example, a
1 percent increase in durable goods manufacturing between 2008 and 2009 would account for a 0.381 percent increase in total IP.

31

Table 11
INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY
Seasonally adjusted

2002=100
Industrial production

2008
Sept.r

Dec.r

2009
Jan.r

Oct.r

Nov.r

Total index
Previous estimates

104.8
105.3

106.3
107.0

104.9
105.7

102.4
103.2

Major market groups
Final Products
Consumer goods
Business equipment
Nonindustrial supplies
Construction
Materials

106.3
101.4
117.7
102.6
99.1
104.3

107.0
103.0
114.9
102.3
97.8
107.1

106.8
102.1
117.9
99.9
93.7
105.1

Major industry groups
Manufacturing (see note below)
Previous estimates
Mining
Utilities

105.7
106.6
96.4
105.7

106.2
107.3
103.5
106.8

103.9
104.9
105.2
108.9

Feb.r

Oct.r

100.3
101.2

98.8
99.7

-4.0
-4.1

1.4
1.7

-1.3
-1.3

-2.4
-2.4

-2.0
-1.9

-1.5
-1.4

-11.8
-11.2

105.9
100.4
120.2
96.7
89.7
101.2

103.3
98.4
115.5
95.3
86.3
99.3

102.2
97.8
113.7
93.1
84.7
97.7

-2.4
-1.3
-6.7
-2.1
-2.1
-5.9

.6
1.6
-2.4
-.3
-1.3
2.7

-.2
-.9
2.6
-2.4
-4.2
-1.9

-.9
-1.7
2.0
-3.2
-4.2
-3.7

-2.4
-1.9
-3.9
-1.4
-3.8
-1.9

-1.1
-.6
-1.6
-2.4
-1.8
-1.6

-9.2
-8.3
-12.4
-13.8
-18.5
-13.6

100.9
101.8
103.2
109.4

98.0
99.1
101.9
112.3

97.4
98.3
101.2
103.8

-3.7
-3.7
-9.3
1.4

.5
.6
7.3
1.0

-2.2
-2.2
1.6
2.0

-2.9
-2.9
-1.9
.4

-2.8
-2.7
-1.2
2.6

-.7
-.7
-.7
-7.6

-13.7
-13.1
-3.7
-6.9

Percent of capacity
200102
2008
2008
low
Feb. Sept.r

Average
19722008

198889
high

199091
low

199495
high

Total industry
Previous estimates

80.9
80.9

85.1
85.0

78.7
78.6

84.9
85.1

73.5
73.6

80.2
80.7

Manufacturing (see note below)
Previous estimates

79.6
79.6

85.4
85.4

77.2
77.1

84.5
84.6

71.4
71.5

Mining
Utilities

87.6
86.8

86.5
92.8

83.8
84.2

89.1
93.3

Stage-of-process groups
Crude
Primary and semifinished
Finished

86.6
82.0
77.7

88.3
86.5
83.0

84.7
77.9
77.2

89.9
87.9
80.3

Capacity utilization

Percent change
2009
Nov.r Dec.r Jan.r

2008
Sept.r

Feb.r

Feb. ’08 to
Feb. ’09

Capacity
growth
Oct.r

Nov.r

Dec.r

2009
Jan.r

Feb.r

Feb. ’08 to
Feb. ’09

74.5
75.0

75.5
76.2

74.6
75.2

72.7
73.3

71.3
71.9

70.2
70.9

.6
1.1

78.0
78.5

72.5
73.2

72.8
73.6

71.3
71.9

69.2
69.7

67.3
67.9

66.8
67.4

.7
1.2

84.9
84.2

91.2
86.7

83.1
81.2

89.1
81.9

90.5
83.4

88.8
83.6

87.7
85.7

87.0
79.1

.9
2.1

81.7
74.3
70.0

88.9
80.3
76.6

78.7
74.9
72.2

84.8
75.5
71.6

84.7
73.7
71.3

82.3
71.3
70.4

81.4
69.9
68.6

81.2
67.8
68.5

.8
.3
1.5

r Revised. p Preliminary.
Note. The statistics in this release cover output, capacity, and capacity utilization in the U.S. industrial sector, which is defined by the Federal Reserve to comprise
manufacturing, mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the North American Industry Classification System (NAICS);
electric and gas utilities are those in NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33) plus the logging industry
and the newspaper, periodical, book, and directory publishing industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and information
respectively), but historically they were considered to be manufacturing and were included in the industrial sector under the Standard Industrial Classification (SIC)
system. In December 2002 the Federal Reserve reclassified all its industrial output data from the SIC system to NAICS.

32

E XPLANATORY N OTE

output of all industries. The IP index, which extends back to 1919, is
built as a chain-type index since 1972. The current formula for the
growth in monthly IP (or any of the sub-aggregates) since 1972 is the
geometric mean of the change in output (I), and, as can be seen
below, is computed using the unit value added estimate for the current
month (pm ) and the estimate for previous month:

The Industrial Production and Capacity Utilization statistical
release, which is published around the middle of the month, reports
measures of output, capacity, and capacity utilization in
manufacturing, mining, and the electric and gas utilities industries.
More detailed descriptions of industrial production and capacity
utilization are available at www.federalreserve.gov/releases/G17 at
the Board’s World Wide Web site. In addition, files containing data
shown in the release, more detailed series that were published in the
G.17 prior to December 2000, and historical data are available at the
Board’s Web site. Instructions for searching for and downloading
specific series are provided as well. For paid access to the data files
through the Department of Commerce’s Economic Bulletin Board or
World Wide Web site, please call STAT-USA at 1-800-STAT-USA or
202-452-1986. Diskettes containing historical data and the data
published in this release also are available from the Board of
Governors of the Federal Reserve System, Publications Services,
202-452-3245.

A
Im
A
Im−1

=

Im pm
Im−1 pm

Im pm−1
×
Im−1 pm−1

The IP proportions (typically shown in the first column of the relevant
tables in the monthly G.17 release) are estimates of the industries’
relative contributions to overall growth in the following year. For
example, the relative importance weight of the motor vehicles and
parts industry is about 8 percent. If output in this industry increased
10 percent in a month, then this gain would boost growth in total IP
by 8/10 percentage point (0.08 x 10% = 0.8%). To assist users with
calculations, the Federal Reserve’s web site provides supplemental
monthly statistics that represent the exact proportionate contribution
of a monthly change in a component index to the monthly change in
the total index (www.federalreserve.gov/
releases/G17/ipdisk/ipweights.sa).

I NDUSTRIAL P RODUCTION
Coverage. The industrial production (IP) index measures the real
output of the manufacturing, mining, and electric and gas utilities
industries; the reference period for the index is 2002. Manufacturing
consists of those industries included in the North American Industry
Classification System, or NAICS, definition of manufacturing plus
those industries-logging and newspaper, periodical, book and
directory publishing-that have traditionally been considered to be
manufacturing and included in the industrial sector. For the period
since 1997, the total IP index has been constructed from 312
individual series based on the 2002 North American Industrial
Classification System (NAICS) codes. These individual series are
classified in two ways: (1) market groups, and (2) industry groups.
Market groups consist of products and materials. Total products are
the aggregate of final products, such as consumer goods and
equipment, and nonindustrial supplies (which are inputs to
nonindustrial sectors). Materials are inputs in the manufacture of
products. Major industry groups include three-digit NAICS industries
and aggregates of these industries—for example, durable and
nondurable manufacturing, mining, and utilities. A complete
description of the market and industry structures, including details
regarding series classification, relative importance weights, and data
sources, is available on the Board’s web site
(www.federalreserve.gov/releases/G17/About.html).

Timing. The first estimate of output for a month is published around
the 15th of the following month. The estimate is preliminary (denoted
by the superscript “p” in tables) and, beginning with the release of
March 2008 data, subject to revision in each of the subsequent five
months as new source data become available. (Revised estimates are
denoted by the superscript “r” in tables.) For the first estimate of
output for a given month, about 72 percent of the source data (in
value-added terms) are available; the fraction of available source data
increases to 86 percent for estimates in the second month that the
estimate is published, 95 percent in the third month, 98 percent in the
fourth month, 99 percent in the fifth month, and 99 percent in the
sixth month. Data availability by data type, based on the six-month
reporting window used in 2008, is summarized in the table below:
Availability of Monthly IP Data in Publication Window
(Percent of value added in 2008)
Month of estimate
Type of data

1st

2nd

3rd

4th

5th

6th

Physical product

30

44

54

56

57

57

Production-worker hours

42

42

42

42

42

42

IP data received

72

86

95

98

99

99

IP data estimated

Source data. On a monthly basis, the individual indexes of industrial
production are constructed from two main types of source data: (1)
output measured in physical units and (2) data on inputs to the
production process, from which output is inferred. Data on physical
products, such as tons of steel or barrels of oil, are obtained from
private trade associations and from government agencies; data of this
type are used to estimate monthly IP wherever possible and
appropriate. Production indexes for a few industries are derived by
dividing estimated nominal output (calculated using unit production
or sales and unit values) by a corresponding Fisher price index; the
most notable of these fall within the high-technology grouping and
include computers, communications equipment, and semiconductors.
When suitable data on physical product are not available, estimates of
output are based on production-worker hours by industry. Data on
hours worked by production workers are collected in the monthly
establishment survey conducted by the Bureau of Labor Statistics.
The factors used to convert inputs into estimates of production are
based on historical relationships between the inputs and the
comprehensive annual data used to benchmark the IP indexes; these
factors also may be influenced by technological or cyclical
developments. The annual data used in benchmarking the individual
IP indexes are constructed from a variety of source data, such as the
quinquennial Censuses of Manufactures and Mineral Industries and
the Annual Survey of Manufactures, prepared by the Bureau of the
Census; the Minerals Yearbook, prepared by the United States
Geological Survey of the Department of the Interior; and publications
of the Department of Energy.

28

14

5

2

1

1

The physical product group includes series based on either monthly or
quarterly data. As can be seen in the first line of the table, in the first
month, a physical product indicator is available for about half of the
series (in terms of value added) that ultimately are based on physical
product data (30 percent out of total of 57 percent). Of the 30 percent,
about two-thirds (19 percent of total IP) include series that are derived
from weekly physical product data and for which actual monthly data
may lag up to several months. On average, quarterly product data are
received for the third estimate of industrial production. Specifically,
quarterly data are available for the second estimate of the last month
of a quarter, the third estimate of the second month of a quarter, and
the fourth estimate of the first month of a quarter.
Seasonal adjustment. Individual series are seasonally adjusted using
Census X-12 ARIMA. For series based on production-worker hours,
the current seasonal factors were estimated with data through
February 2009; for other series, the factors were estimated with data
through at least September 2008. Series are pre-adjusted for the
effects of holidays or the business cycle when appropriate. For the
data since 1972, all seasonally adjusted aggregate indexes are
calculated by aggregating the seasonally adjusted indexes of the
individual series.

Aggregation Methodology and Weights. The aggregation method
for the IP index is a version of the Fisher-ideal index formula. (For a
detailed discussion of the aggregation method, see The Federal
Reserve Bulletin February 1997 and March 2001.) In the IP index,
series that measure the output of an individual industry are combined
using weights derived from their proportion in the total value-added

Reliability. The average revision to the level of the total IP index,

33

without regard to sign, between the first and the fourth estimates was
0.26 percent during the 1987–2008 period. The average revision to
the percent change in total IP, without regard to sign, from the first to
the fourth estimates was 0.21 percentage point during the 1987–2008
period. In most cases (about 85 percent), the direction of change in
output indicated by the first estimate for a given month is the same as
that shown by the fourth estimate.

index and the survey-based utilization rates. The McGraw-Hill/DRI
Survey, now discontinued, was the primary source of manufacturing
utilization rates for many years. This was a survey of large companies
that reported, on average, higher utilization rates than those reported
by establishments covered by the annual Survey of Plant Capacity
(the primary source of factory operating rates through 2006, after
which it was discontinued) for the fourteen years they overlapped.
Adjustments have been made to keep the industry utilization rates
currently reported by the Federal Reserve (now based on the QSPC)
roughly in line with rates formerly reported by McGraw-Hill. As a
consequence, the rates reported by the Federal Reserve tend to be
higher than the rates reported in the Census utilization surveys.

Rounding. The published percent changes are calculated from
unrounded indexes, and may not be the same as percent changes
calculated from the rounded indexes shown in the release.
C APACITY U TILIZATION

Perspective. Over the 1972–2007 period, the average total industry
utilization rate was 81.0 percent; for manufacturing, the average
factory operating rate was 79.7 percent. Industrial plants usually
operate at capacity utilization rates that are well below 100 percent:
none of the broad aggregates has ever reached 100 percent. For total
industry and total manufacturing, utilization rates have exceeded 90
percent only in wartime. The highs and lows in capacity utilization
shown in table 7 are specific to each series and do not all occur in the
same month.

Overview. The Federal Reserve Board constructs estimates of
capacity and capacity utilization for industries in manufacturing,
mining, and electric and gas utilities. For a given industry, the
capacity utilization rate is equal to an output index (seasonally
adjusted) divided by a capacity index. The Federal Reserve Board’s
capacity indexes attempt to capture the concept of sustainable
maximum output—the greatest level of output a plant can maintain
within the framework of a realistic work schedule, after factoring in
normal downtime and assuming sufficient availability of inputs to
operate the capital in place.

R EFERENCES AND R ELEASE DATES
References. The annual revision published in March 2008 is
described in an article published in the Federal Reserve Bulletin, vol.
94, pp. A41–A60. A summary of the annual revision that
incorporated back to 1972 production and capacity indexes
reclassified according to the North American Industry Classification
System is available in an article in the Federal Reserve Bulletin, vol.
89 (April 2003), pp.151-176. A description of the aggregation
methods for industrial production and capacity utilization is included
in an article in the Federal Reserve Bulletin, vol. 83 (February 1997),
pp. 67-92. The Federal Reserve methodology for constructing
industry-level measures of capital is detailed in “Capital Stock
Estimates for Manufacturing Industries: Methods and Data” by Mike
Mohr and Charles Gilbert (1996), which can be obtained at:
www.federalreserve.gov/releases/g17/CapitalStockDocLatest.pdf.

Coverage. Capacity indexes are constructed for 87 detailed industries
(69 in manufacturing, 16 in mining, and 2 in utilities), which mostly
correspond to industries at the three- and four-digit NAICS level.
Estimates of capacity and utilization are available for a variety of
groups, including durable and nondurable manufacturing, total
manufacturing, mining, utilities, and total industry. Manufacturing
consists of those industries included in the North American Industry
Classification System, or NAICS, definition of manufacturing plus
those industries—logging and newspaper, periodical, book and
directory publishing—that have traditionally been considered to be
manufacturing and included in the industrial sector. Also, special
aggregates are available, such as high-tech industries and
manufacturing excluding high-tech industries.
Source Data. The monthly rates of capacity utilization are designed
to be consistent with both the monthly data on production and the
periodically available data on capacity and utilization. Because there
is no direct monthly information on overall industrial capacity or
utilization rates, the Federal Reserve first estimates annual capacity
indexes from the source data. Capacity data reported in physical units
from government sources (primarily from the U.S. Geological Survey
and the Department of Energy’s Energy Information Administration)
and trade sources are available for portions of several industries in
manufacturing (e.g., paper, industrial chemicals, petroleum refining,
motor vehicles), as well as for electric utilities and mining; these
industries represent about 25 percent of total industrial capacity.
When physical product data are unavailable for manufacturing
industries, capacity indexes are based on responses to the Bureau of
the Census’s Quarterly Survey of Plant Capacity (QSPC); these
industries account for a bit less than 70 percent of total industry
capacity. In the absence of utilization data for a few mining and
petroleum series, capacity is based on trends through peaks in
production (roughly 5 percent of total industry capacity). A detailed
description of the methodology used to construct the capacity indexes
is available on the Board’s web site
(www.federalreserve.gov/releases/G17/CapNotes.html).

Industrial Production—1986 Edition contains a more detailed
description of the other methods used to compile the industrial
production index, plus a history of its development, a glossary of
terms, and a bibliography. The major revisions to the IP indexes and
capacity utilization since 1990 have been described in the Federal
Reserve Bulletin (April 1990, June 1990, June 1993, March 1994,
January 1995, January 1996, February 1997, February 1998, January
1999, March 2000, March 2001, March 2002, April 2003, Winter
2004, Winter 2005).
Release Schedule
At 9:15 a.m. on
2009: January 16, February 18, March 16, April 15, May 15, June 16,
July 15, August 14, September 16, October 16, November 17, and
December 15.

Aggregation Methodology. Monthly capacity aggregates are
calculated in three steps: (1) utilization aggregates are calculated on
an annual basis through the most recent full year as capacity-weighted
aggregates of individual utilization rates; (2) the annual aggregate
capacity is derived from the corresponding production and utilization
aggregates; (3) the monthly capacity aggregate is obtained by
interpolating with a Fisher index of its constituent monthly capacity
series. Utilization rates for the individual series and aggregates are
calculated by dividing the pertinent monthly production index by the
related capacity index.
Consistency. A major aim is that the Federal Reserve utilization rates
be consistent over time so that, for example, a rate of 85 percent
means about the same degree of tightness that it meant in the past. A
major task for the Federal Reserve in developing reasonable and
consistent time series of capacity and utilization is dealing with
inconsistencies between the movements of the industrial production

34


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102