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FEDERAL RESERVE statistical release
G.17 (419)

For release at 9:15 a.m. (EDT)
September 16, 2009

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

Industrial output rose 0.8 percent in August, following an upwardly revised increase of 1.0 percent in
July. Production in manufacturing expanded 0.6 percent in August, and the index excluding motor vehicles and
parts increased 0.4 percent. The gain in July for manufacturing was revised up 0.4 percentage point, to
(over)

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY
Seasonally adjusted

2002=100

Percent change

2009
Mar.r

Apr.r

Mayr

Juner

Julyr

Aug.p

97.7
97.7

97.2
97.0

96.1
95.9

95.8
95.5

96.7
96.0

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

101.6
98.3
110.6
91.4
82.7
96.5

100.7
97.7
108.7
91.1
82.0
96.2

99.4
96.7
106.4
90.4
82.0
95.2

99.0
96.4
105.9
90.5
82.0
94.7

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

96.1
96.0
98.7
106.1

95.6
95.4
96.1
106.4

94.7
94.4
95.0
104.3

Industrial production
Total index
Previous estimates

2009
Mar.r

Apr.r

Mayr

Juner

Julyr

Aug.p

97.4

-1.6
-1.6

-.6
-.7

-1.1
-1.1

-.4
-.4

1.0
.5

.8

-10.7

99.9
97.1
107.0
90.7
82.5
95.9

101.0
98.4
107.6
91.1
82.5
96.4

-1.1
-.4
-2.6
-1.9
-2.3
-2.0

-.9
-.6
-1.7
-.4
-.9
-.3

-1.2
-1.0
-2.1
-.8
.1
-1.0

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

.9
.8
1.1
.2
.7
1.3

1.1
1.3
.6
.4
.0
.6

-7.3
-4.1
-14.7
-13.2
-18.5
-13.0

94.4
93.9
94.1
103.8

95.7
94.8
94.7
102.2

96.3

-1.7
-1.7
-2.6
-.3

-.5
-.7
-2.7
.3

-.9
-1.0
-1.1
-2.0

-.3
-.6
-.9
-.5

1.4
1.0
.6
-1.6

.6

-12.2

.5
1.9

-10.5
-.1

Percent of capacity
200102
2008 2009
low
Aug. Mar.r

95.2
104.1

Average
19722008

198889
high

199091
low

199495
high

Total industry
Previous estimates

80.9

85.1

78.7

84.9

73.5

77.6

Manufacturing (see note below)
Previous estimates
Mining
Utilities

79.6

85.4

77.2

84.5

71.4

75.3

87.6
86.8

86.5
92.8

83.8
84.2

89.1
93.3

84.9
84.2

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

81.7
74.3
70.0

Capacity utilization

Aug. ’08 to
Aug. ’09

Capacity
growth
Aug. ’08 to
Aug. ’09

Apr.r

Mayr

Juner

Julyr

Aug.p

69.5
69.5

69.2
69.0

68.5
68.3

68.3
68.1

69.0
68.5

69.6

-.5

65.7
65.6
82.7
80.9

65.2
65.0
81.8
79.2

65.1
64.7
81.1
78.7

66.1
65.4
81.7
77.3

66.6

-.7

91.8
80.2

66.0
65.9
84.9
80.8

82.2
78.7

-.1
1.8

88.3
77.1
73.7

79.5
67.1
68.2

79.4
66.9
67.6

79.5
65.9
67.0

79.5
65.8
66.7

80.0
66.3
67.7

80.7
66.7
68.5

-.6
-.7
.0

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.

1

1.4 percent; in addition, factory output for April through June is now somewhat less weak than reported
previously. Production at mines moved up 0.5 percent in August. The output of utilities gained 1.9 percent, as
temperatures swung from an unseasonably mild July to a slightly warmer-than-usual August. At 97.4 percent of
its 2002 average, total industrial production was 10.7 percent below its level of a year earlier. In August, the
capacity utilization rate for total industry advanced to 69.6 percent, a level 11.3 percentage points below its
average for the period 1972 through 2008.
Market Groups
The output of consumer goods strengthened 1.3 percent in August, as the production indexes for both
durables and nondurables climbed. The gain in consumer durables was the result of an increase in automotive
products. The indexes for the other major categories of durables registered losses: Home electronics fell
1.4 percent; appliances, furniture, and carpeting declined 0.8 percent; and miscellaneous goods decreased
1.0 percent. The output of nondurable consumer goods rose 1.1 percent because of advances in both the energy
and non-energy sectors. The index for non-energy consumer nondurable goods jumped 1.2 percent, with gains in
all of its major components. The production indexes for foods and tobacco and for clothing moved up more than
1.5 percent, while the indexes for chemical products and for paper products recorded smaller gains. The
production of consumer energy goods increased 0.8 percent.
The index for business equipment rose 0.6 percent in August, following a gain of 1.1 percent in July.
Within business equipment, the output of transit equipment increased 2.3 percent in August, and the output of
industrial and other equipment rose 0.8 percent; these gains more than offset a decline of 0.8 percent in
information processing equipment. The output of transit equipment was boosted by advances in motor vehicles
and aircraft. The decrease in the production of information processing equipment principally resulted from
declines in electromedical equipment and in search and navigation equipment. The index for defense and space
equipment was unchanged, following a gain of nearly 2 percent in July.
After a revised increase of 0.7 percent in July, the output of construction supplies was unchanged in
August. The index for business supplies advanced 0.6, percent primarily as a result of a gain in sales by utilities
to commercial businesses.
The production of materials rose 0.6 percent, with gains in nondurable and energy materials outweighing
a small loss in durables. Within the category of durable materials, equipment parts fell 0.4 percent, consumer
parts slipped 0.2 percent, and other durable materials inched up 0.1 percent. Nondurable materials increased
0.8 percent with the advances widespread; the indexes for textiles, paper, and chemical materials all rose. Energy
materials increased 1.2 percent; a gain in electricity generation accounted for almost 1 percentage point of the
advance.
Industry Groups
Production in manufacturing expanded 0.6 percent in August, and the factory operating rate increased to
66.6 percent, a rate 13.0 percentage points below its 1972–2008 average. The upward revision to manufacturing
production in July was led by output gains for steel products and high-tech products that were stronger than
previously reported, while much of the upward revision for April through June reflected higher production of
chemicals. The output of durable goods moved up 0.5 percent in August. The index for motor vehicles and parts
advanced 5.5 percent, after increasing 20.1 percent in July. Nevertheless, in August this index stood more than
20 percent below its year-earlier level. Primary metals; machinery; electrical equipment, appliances, and
components; and miscellaneous manufacturing all posted gains between 1/2 and 1 percent. However, the output
of nonmetallic mineral products dropped 1.9 percent, and the indexes for wood products and for computer and
2

electronic products both contracted 0.8 percent. The output of nondurable goods rose 0.7 percent, with mixed
results across components. The index for food, beverage, and tobacco products expanded 1.6 percent. Less
sizable gains were recorded for textile and product mills, apparel and leather, chemicals, and plastics and rubber
products. The indexes for paper and for printing and related support activities each edged down 0.2 percent,
while the index for petroleum and coal products fell 0.5 percent because of lower refinery output.
The index for other manufacturing (non-NAICS), which consists of publishing and logging, rose
0.9 percent in August.
The index for utilities increased 1.9 percent, primarily as a result of a gain in the output of electricity. The
operating rate for utilities climbed 1.4 percentage points, to 78.7 percent. Mining production moved up
0.5 percent, and the utilization rate rose to 82.2 percent, a rate 5.4 percentage points below its 1972–2008
average.
Capacity utilization rates at industries grouped by stage of process were as follows: For the crude stage,
utilization increased 0.7 percentage point, to 80.7 percent, a rate nearly 6 percentage points below its 1972–2008
average; for the primary and semifinished stages, utilization moved up 0.4 percentage point, to 66.7 percent, a
rate 15.3 percentage points below its long-run average; and for the finished stage, utilization increased
0.8 percentage point, to 68.5 percent, a rate 9.2 percentage points below its long-run average.
Note: This release includes the G.17 publication schedule for 2010.

Tables
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.

Industrial Production: Market and Industry Group Summary; percent change
Industrial Production: Special Aggregates and Selected Detail; percent change
Motor Vehicle Assemblies
Industrial Production: Market and Industry Group Summary; indexes
Industrial Production: Special Aggregates and Selected Detail; indexes
Diffusion Indexes of Industrial Production
Capacity Utilization
Industrial Capacity
Gross Value of Products and Nonindustrial Supplies
Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
Historical Statistics: Total Industry
Historical Statistics: Manufacturing
Historical Statistics: Total Industry Excluding Selected High-Technology Industries
Historical Statistics: Manufacturing Excluding Selected High-Technology Industries

Further detail is available on the Board’s website (www.federalreserve.gov/releases/G17/).

3

1. Industrial production, capacity, and utilization
160

Ratio scale, 2002 output = 100
Total
Manufacturing

135

160

135

110

Capacity

110

85

85

Production

Detail: 2005 to present

60

Production

118

60

114
110
106
102
98
94

2005 2006 2007 2008 2009

35

1970

1975

1980

1985

1990

1995

2000

90

2005

2010

Percent of capacity

100

90

35

100

90

Utilization

80

80

70

70

60

1970

1975

1980

1985

1990

1995

2000

2005

2010

60

Notes: 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.

4

2. Industrial production and capacity utilization
Consumer goods

Equipment

Ratio scale, 2002=100

115
110

115
110

105

105

Nondurable

100

100

95

95

90

Ratio scale, 2002=100

140

140

130

130

120

120

90

Durable

85

85

80

110

110

100

100

80

75

Business

75

Defense and Space

90
70

90

70

80

120

120

115

115

120
115

110

110

110

105

105

100

100

95

95

1998

2000

2002

2004

Nonindustrial supplies

110

2006

2008

Ratio scale, 2002=100

Construction

105

100

100

95

95
Other business

2002

2004

2006

2008

80

Ratio scale, 2002=100
120
115

Non-energy

90

90

Energy

90

1998

2000

2002

2004

Capacity utilization

2006

2008

85

85

85

85
80

2000

Industrial materials

105

90

1998

80

80

80

75

1998

2000

2002

2004

Capacity utilization

Percent of capacity

2006

2008

75

Percent of capacity

90

95

85

90

80

80

85

75

75

80

70

75

75

65

70

70

60

65

90
Primary and
semifinished
processing

85

Excluding utilities

70
65
60

1998

2000

2002

2004

2006

2008

95
Crude processing

90
85
80

Finished processing

1998

2000

2002

2004

2006

2008

65

Notes: 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.
5

3. Industrial production and capacity utilization, high-technology industries
Industrial production

Ratio scale, 2002 = 100

125
115

125
115

Excluding
high-technology
industries

95

95

75

75

Total IP

55

35

1970

1975

1980

1985

55

1990

1995

Industrial production

2000

2005

2010

35

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

1970

1975

Industrial production

1980

1985

Ratio scale, 2002 = 100

100

Computers

2000

2005

2010

95

-15

Percent of capacity
100

100

200
150

Communications eq.

1995

-10

Capacity utilization
400
300

400
300
200
150

1990

-5

Excluding
high-technology
industries

95

85

85

75

75

100
50

50

65

65
High-technology industries

10

1998 2000 2002 2004 2006 2008 2010

55

55

Semiconductors
10

45

1990

1995

2000

2005

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.

6

2010

45

Table 1
I NDUSTRIAL P RODUCTION : M ARKET AND I NDUSTRY G ROUP S UMMARY
Percent change, seasonally adjusted

Fourth quarter to
fourth quarter
Item

2008
proportion1

Juner

Julyr

Aug.p

100.00

1.8

1.8

-6.7

-13.0

-19.0

-10.5

-1.6

-.6

-1.1

-.4

1.0

.8

-10.7

57.05
29.54
6.32
2.88
.34
.99
2.11
23.22
17.12
9.39
.42
5.09
1.70
6.10

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
-4.2
-17.2
-22.4
1.6
-20.4
-10.9
-.4
-1.8
-1.2
-6.7
-2.2
-4.1
3.6

-10.1
-3.8
-28.8
-32.9
-15.1
-33.7
-22.9
3.8
-4.4
-1.9
-19.7
-6.2
-9.5
28.8

-16.9
-12.5
-40.8
-58.0
-7.4
-20.9
-26.8
-4.2
-5.7
-5.2
-23.8
-2.3
-13.3
-.8

-10.6
-6.3
-7.2
2.6
-25.2
-10.6
-12.7
-6.1
-3.8
-.6
-12.4
-3.6
-20.8
-12.4

-1.3
-.4
-.1
3.1
-2.4
-2.2
-2.5
-.4
-.3
.0
.0
.8
-4.9
-.9

-.8
-.6
-.1
-.6
-2.5
1.3
.2
-.7
-1.0
-.9
.2
-1.2
-2.4
.4

-1.1
-1.0
-2.8
-4.4
-3.3
-1.4
-1.5
-.6
.1
1.2
-1.3
-1.5
-1.1
-2.7

-.3
-.4
-1.2
-2.1
-1.5
-3.1
.6
-.2
-.1
-1.0
-5.4
1.7
1.6
-.4

.7
.8
7.8
17.1
-.8
1.4
1.5
-.8
-.4
-.6
3.7
-.7
-.2
-1.9

.9
1.3
2.1
5.8
-1.4
-.8
-1.0
1.1
1.2
1.7
2.1
.6
.3
.8

-8.9
-4.1
-13.0
-8.1
-16.1
-18.8
-16.0
-1.9
-2.8
-1.1
-14.1
-2.3
-10.9
-.4

9.48
1.53
2.92
5.03
1.66

7.4
9.2
10.8
4.8
-1.9

2.3
-1.4
6.6
1.1
5.7

-8.4
-29.0
2.0
-7.4
-.5

-18.1
-45.7
-8.5
-14.3
.4

-14.3
49.1
-13.3
-27.1
-2.4

-20.4
-23.9
-6.3
-27.1
.7

-2.6
-1.9
-.6
-4.1
.7

-1.7
-3.7
.2
-2.3
-.2

-2.1
-3.2
-.9
-2.6
.6

-.5
-.6
-.1
-.7
.2

1.1
4.4
.8
.2
1.9

.6
2.3
-.8
.8
.0

-14.7
-15.4
-7.3
-18.7
1.2

4.87
10.65

-3.3
.4

-1.0
1.3

-11.6
-6.9

-26.3
-13.2

-33.7
-18.6

-10.8
-9.7

-2.3
-1.7

-.9
-.2

.1
-1.1

.0
.2

.7
.0

.0
.6

-18.5
-10.8

42.95
28.99
16.83
2.69
5.93
8.21
12.16
.50
2.32
5.87
13.96

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

-7.9
-12.0
-12.0
-20.3
-6.5
-12.9
-12.0
-13.7
-10.8
-15.8
.2

-16.6
-27.3
-32.3
-38.5
-29.0
-32.7
-19.7
-27.6
-23.4
-21.1
7.3

-21.8
-30.2
-40.2
-63.7
-29.8
-38.6
-14.6
-32.5
-25.4
-9.6
-4.6

-10.4
-9.5
-21.3
-26.6
-17.6
-22.5
7.1
-6.7
-5.0
20.2
-12.3

-2.0
-2.7
-3.3
-3.2
-2.2
-4.2
-1.9
-2.4
-4.9
-1.7
-.8

-.3
.2
-1.0
-.1
-.5
-1.6
1.5
2.5
-1.0
4.3
-1.2

-1.0
-1.0
-2.6
-5.5
-2.9
-1.6
.9
-1.3
2.7
.0
-1.1

-.5
-.3
-1.0
-5.5
-.7
.1
.4
.6
1.7
.8
-.9

1.3
2.0
3.5
12.7
2.1
2.1
.2
-3.2
.0
.9
-.3

.6
.3
-.1
-.2
-.4
.1
.8
.7
.2
1.1
1.2

-13.0
-17.5
-23.8
-31.1
-20.3
-24.1
-8.7
-21.6
-12.9
-6.2
-4.7

321
327
331
332
333
334

78.99
75.29
38.10
1.02
2.23
2.49
5.91
4.89
6.89

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

-8.7
-8.7
-11.1
-20.7
-10.3
-26.8
-7.0
-10.6
-2.6

-18.1
-18.4
-26.2
-39.5
-22.0
-65.0
-15.5
-19.0
-26.4

-22.0
-21.7
-31.6
-35.7
-37.8
-62.8
-33.4
-34.4
-18.6

-9.0
-8.2
-16.0
-10.3
-10.4
-21.8
-26.1
-32.6
-3.0

-1.7
-1.5
-2.3
-2.8
-3.5
-5.9
-4.5
-5.6
-.2

-.5
-.4
-.7
-1.1
.9
-.4
-2.0
-2.3
.9

-.9
-.9
-2.1
-.5
-.9
-1.7
-2.0
-3.2
-1.2

-.3
-.4
-.8
1.1
-.1
2.9
-.3
-2.2
-.1

1.4
1.4
3.2
.7
3.7
10.3
-.2
.6
2.0

.6
.6
.5
-.8
-1.9
.9
.2
.8
-.8

-12.2
-12.0
-17.7
-23.6
-18.1
-37.3
-20.8
-24.4
-12.2

335
3361–3

2.00
4.51

-.4
-6.2

3.3
-1.9

-2.9
-23.3

-11.8
-37.4

-22.3
-69.5

-17.8
-13.8

-3.2
1.7

-.7
-1.2

-1.1
-7.7

-1.3
-3.6

-.1
20.1

.6
5.5

-14.4
-20.2

3364–9
337
339

3.54
1.33
3.27

5.6
-1.7
3.5

11.1
-2.6
2.9

-12.7
-17.8
-2.3

-18.0
-29.3
-7.7

29.3
-23.6
-10.8

-12.7
-24.1
-1.2

-.8
-1.9
-.7

-1.4
-3.6
1.3

-1.3
-.5
-.5

-.5
-1.6
-.3

1.7
1.1
.9

-.2
-2.0
.9

-6.3
-21.2
-4.7

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

37.20
11.46
.89
.57
2.62
1.80
4.72
12.06
3.08

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

-6.3
-1.6
-13.8
-8.2
-10.9
-9.6
.5
-9.8
-11.9

-9.9
-2.6
-26.5
-23.3
-28.6
-10.1
12.1
-15.0
-23.7

-11.1
-4.3
-29.9
-24.6
-21.5
-26.9
-7.6
-7.4
-27.4

-.4
-.1
-13.7
-16.6
-.3
-14.6
1.2
6.3
-15.0

-.7
.0
-3.2
.0
-4.8
-1.3
.2
-.3
-2.9

.0
-.8
1.0
-2.1
-.9
-1.9
.2
1.3
-.7

.1
1.2
-1.9
.1
3.4
-.6
-1.9
-.5
-.8

.0
-1.2
-.1
-5.4
2.0
.8
1.3
.6
.0

-.2
-.6
-1.9
2.9
-.1
-.9
-1.0
.2
1.2

.7
1.6
.4
.8
-.2
-.2
-.5
.7
.1

-6.2
-1.3
-21.1
-17.3
-12.7
-14.7
-3.1
-5.6
-16.2

1133,5111

3.70

-1.2

-1.8

-8.8

-12.0

-27.6

-24.3

-5.4

-2.6

-.9

1.2

-.1

.9

-15.6

21
2211,2
2211
2212

10.60
10.41
8.65
1.76

8.7
-.6
-1.1
1.4

.3
3.1
3.5
1.6

.8
.3
-.8
5.9

3.5
12.6
9.6
27.7

-11.7
-4.1
-2.9
-10.2

-21.3
-11.2
-9.7
-18.7

-2.6
-.3
-.1
-1.5

-2.7
.3
.1
1.6

-1.1
-2.0
-1.4
-5.0

-.9
-.5
-1.3
4.3

.6
-1.6
-1.8
.0

.5
1.9
2.3
.1

-10.5
-.1
-.1
-.2

Construction supplies
Business supplies
Materials
Non-energy
Durable
Consumer parts
Equipment parts
Other
Nondurable
Textile
Paper
Chemical
Energy

Mining
Utilities
Electric
Natural gas

Mayr

2008

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

Other manufacturing (non-NAICS)

Apr.r

Aug. ’08
to
Aug. ’09

2007

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

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

Monthly rate
2009
Mar.r

2006

Total IP

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

Annual rate
2008 2009
Q4
Q1r
Q2r

31–33

r Revised. p Preliminary.
NOTE. Under the industry groups, the figures to the right of the series descriptions are 2002 North American Industry Classification System (NAICS) codes. The abbreviation pt denotes part of
a NAICS code. Additional industry detail is available on the Board’s web site (www.federalreserve.gov/releases/G17). Under market groups, in the products category, miscellaneous consumer
nondurables, oil and gas drilling, and manufactured homes are not shown separately; in the nondurable materials category, containers and miscellaneous nondurable materials are not shown
separately.
1. The proportion data are the relative weights for the rates of change for each series in the computation of the change in total industrial production in the following year.

7

Table 2
I NDUSTRIAL P RODUCTION : S PECIAL AGGREGATES AND S ELECTED D ETAIL
Percent change, seasonally adjusted

Fourth quarter to
fourth quarter
Item

Annual rate
2009
Q1r
Q2r

2008
proportion

2006

2007

2008

2008
Q4

100.00

1.8

1.8

-6.7

-13.0

-19.0

23.88
6.10
3.04
.78
4.25
9.71

3.9
-.1
1.2
14.9
2.6
6.8

2.1
1.9
1.9
-.7
5.7
1.2

1.3
3.6
.5
6.9
-4.4
2.0

11.2
28.8
2.5
-6.7
7.5
7.6

76.12

1.2

1.7

-9.4

3341
3342

4.17
1.02
1.32

13.1
22.1
12.4

18.2
24.2
6.6

334412–9

1.84

9.8

71.95

Monthly rate
2009
Mar.r

Apr.

-10.5

-1.6

-6.5
-.8
-.8
-72.3
-9.9
-2.4

-14.2
-12.4
-8.7
-75.0
-11.0
-12.9

-20.2

-23.1

-6.9
-11.9
10.4

-38.1
-31.6
6.2

22.3

-15.0

.4

.7

4.51
1.92
2.30

-6.2
-7.6
-4.3

67.44
20.65
7.43
4.83
7.32
25.51

Measures excluding selected
high-technology industries
Total industry
Manufacturing1
Durable

r

r

r

r

June

-.6

-1.1

-.4

1.0

.8

-10.7

-1.2
-.9
-.2
-17.1
.2
-1.3

-.8
.4
.5
-10.0
-1.3
-1.2

-1.8
-2.7
-2.6
-5.6
-.3
-1.5

-.7
-.4
.1
-4.0
-1.9
-.3

-.7
-1.9
-.2
-.2
.4
-.7

1.1
.8
1.5
1.2
1.4
1.1

-4.9
-.4
-1.0
-51.1
-3.3
-5.2

-9.3

-1.7

-.5

-.9

-.3

1.4

.7

-12.9

-24.3
-26.5
-3.5

.7
-22.1
-4.1

.5
-2.0
-.9

1.9
-2.1
1.5

-2.2
-2.0
-2.5

.8
-1.9
2.9

2.5
-1.2
.7

-.5
-1.1
.0

-15.8
-23.8
1.8

-60.9

-38.1

22.2

3.3

4.6

-2.0

.3

6.1

-.6

-23.2

-9.5

-19.0

-23.1

-9.8

-1.9

-.7

-.8

-.3

1.4

.7

-12.7

-1.9
-1.9
.3

-23.3
-30.3
-14.8

-37.4
-49.6
-25.2

-69.5
-83.7
-53.7

-13.8
-8.3
-18.8

1.7
6.0
-.6

-1.2
-2.1
-.4

-7.7
-12.8
-5.8

-3.6
-5.3
-3.5

20.1
41.3
9.7

5.5
11.7
1.3

-20.2
-18.1
-21.0

.9
.8
6.2
-3.4
-.6
1.4

.9
-1.1
2.3
-1.0
.4
2.4

-8.5
-4.2
-8.8
-11.8
-9.8
-11.2

-17.6
-8.5
-16.3
-26.6
-17.4
-23.9

-19.1
-9.2
-5.9
-34.1
-24.8
-26.5

-9.6
-5.2
-21.7
-10.8
-11.1
-9.6

-2.0
-.6
-3.0
-2.3
-2.5
-3.0

-.6
-.9
-1.8
-.9
-.6
.0

-.4
-.1
-1.9
.1
-.5
-.5

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

.5
-.2
.6
.7
.0
1.1

.5
1.0
.4
.0
.2
.3

-12.3
-5.2
-14.1
-18.7
-14.4
-16.2

95.83
74.82
34.07

1.2
.4
-.4

1.1
.9
1.4

-6.7
-8.9
-11.7

-11.7
-16.8
-24.5

-18.8
-21.9
-32.3

-10.9
-9.5
-17.9

-1.7
-1.8
-2.6

-.7
-.6
-1.1

-1.0
-.9
-2.1

-.4
-.3
-.9

.9
1.3
3.3

.8
.7
.6

-10.5
-12.0
-17.9

Measures excluding motor vehicles
and parts
Total industry
Manufacturing1
Durable

95.49
74.48
33.73

2.3
1.8
2.5

2.0
2.1
4.0

-5.9
-7.8
-9.3

-11.7
-16.9
-24.6

-16.0
-18.3
-25.0

-10.4
-8.8
-16.2

-1.7
-1.8
-2.7

-.6
-.4
-.7

-.8
-.6
-1.5

-.2
-.1
-.5

.3
.6
1.5

.6
.4
-.1

-10.4
-11.8
-17.4

Measures excluding selected
high-technology industries
and motor vehicles and parts
Total industry
Manufacturing1

91.32
70.31

1.7
1.0

1.2
1.1

-5.8
-7.8

-10.3
-15.4

-15.6
-18.0

-10.8
-9.3

-1.8
-1.9

-.7
-.6

-.8
-.5

-.3
-.2

.2
.5

.6
.4

-10.1
-11.5

Stage-of-process components
of non-energy materials,
measures of the input to
Finished processors
Primary and semifinished processors

11.43
17.56

1.7
1.3

4.0
3.2

-11.1
-12.5

-30.2
-25.3

-38.2
-24.5

-16.4
-4.9

-3.0
-2.5

-.4
.5

-2.1
-.4

-1.0
.1

3.3
1.2

-.1
.6

-21.3
-15.0

Energy
Consumer products
Commercial products
Oil and gas well drilling
Converted fuel
Primary energy

213111

Non-energy
Selected high-technology industries
Computers and peripheral equipment
Communications equipment
Semiconductors and related
electronic components
Excluding selected high-technology
industries
Motor vehicles and parts
Motor vehicles
Motor vehicle parts

3361–3
3361
3363

Excluding motor vehicles and parts
Consumer goods
Business equipment
Construction supplies
Business supplies
Materials

Aug.

Aug. ’08
to
Aug. ’09

May

Total industry

July

p

r Revised. p Preliminary.
1. Refer to note on cover page.

Table 3
M OTOR V EHICLE A SSEMBLIES
Millions of units, seasonally adjusted annual rate

2008
average

2008
Q3

Q4

2009
Q1

Q2

2009
Mar.

Apr.

May

June

July

Aug.

Total
Autos
Trucks
Light
Medium and heavy

8.67
3.78
4.90
4.67
.22

8.60
4.13
4.47
4.27
.21

7.27
3.34
3.93
3.73
.20

4.57
1.66
2.91
2.76
.15

4.46
1.85
2.62
2.51
.11

5.06
1.97
3.09
2.95
.14

4.99
1.90
3.08
2.98
.10

4.29
1.83
2.45
2.36
.10

4.11
1.80
2.31
2.18
.13

5.86
2.27
3.60
3.47
.12

6.57
2.58
3.99
3.84
.15

Memo
Autos and light trucks

8.45

8.39

7.07

4.42

4.35

4.91

4.89

4.19

3.97

5.74

6.42

Item

NOTE. Seasonal factors and underlying data for auto, light truck, and medium and heavy truck production are available on the Board’s web site, www.federalreserve.gov/releases/G17/mvsf.htm

8

Table 4
I NDUSTRIAL P RODUCTION I NDEXES : M ARKET AND I NDUSTRY G ROUP S UMMARY
2002 = 100, seasonally adjusted

2008
proportion

2008
Dec.

2009
Jan.

Feb.

Mar.r

Apr.r

Mayr

Juner

Julyr

Aug.p

100.00

102.4

100.1

99.3

97.7

97.2

96.1

95.8

96.7

97.4

57.05
29.54
6.32
2.88
.34
.99
2.11
23.22
17.12
9.39
.42
5.09
1.70
6.10

103.5
100.6
82.6
74.5
174.1
72.3
90.4
106.0
102.9
105.7
62.0
107.8
90.0
114.9

101.0
98.6
74.6
58.7
176.3
72.2
89.4
105.9
102.8
105.6
60.2
108.5
88.2
114.8

100.0
98.7
76.1
64.2
174.3
70.9
86.6
105.5
103.4
106.6
58.8
109.0
88.9
111.2

98.8
98.3
76.1
66.2
170.1
69.4
84.5
105.0
103.2
106.6
58.8
109.9
84.5
110.2

98.0
97.7
75.9
65.8
165.9
70.3
84.6
104.3
102.1
105.6
58.9
108.6
82.5
110.5

96.9
96.7
73.8
62.9
160.4
69.3
83.4
103.7
102.2
106.9
58.1
107.0
81.5
107.5

96.6
96.4
72.9
61.6
158.0
67.1
83.9
103.5
102.1
105.8
55.0
108.8
82.8
107.1

97.4
97.1
78.6
72.2
156.7
68.0
85.1
102.7
101.7
105.2
57.0
108.1
82.7
105.0

98.2
98.4
80.2
76.4
154.6
67.5
84.3
103.9
102.9
107.0
58.2
108.8
82.9
105.9

9.48
1.53
2.92
5.03
1.66

120.8
113.4
157.1
105.0
119.9

115.7
96.9
155.6
102.3
120.5

113.6
98.4
151.8
99.6
118.4

110.6
96.6
150.9
95.6
119.2

108.7
93.0
151.2
93.4
119.0

106.4
90.1
149.9
91.0
119.8

105.9
89.5
149.8
90.4
120.0

107.0
93.4
151.0
90.6
122.3

107.6
95.6
149.8
91.4
122.3

4.87
10.65

89.1
100.1

85.8
98.9

84.6
97.3

82.7
95.6

82.0
95.5

82.0
94.4

82.0
94.6

82.5
94.6

82.5
95.1

42.95
28.99
16.83
2.69
5.93
8.21
12.16
.50
2.32
5.87
13.96

101.0
98.0
104.0
68.5
152.5
90.8
88.9
61.6
83.2
91.5
104.2

99.0
95.4
98.9
57.4
149.1
87.7
89.2
62.3
81.4
93.5
103.6

98.5
95.3
97.0
57.6
146.1
85.5
91.2
58.9
83.2
97.1
102.2

96.5
92.7
93.8
55.8
142.9
81.9
89.5
57.4
79.1
95.5
101.3

96.2
92.9
92.8
55.7
142.1
80.6
90.9
58.9
78.3
99.6
100.1

95.2
91.9
90.4
52.6
138.1
79.4
91.6
58.1
80.5
99.6
99.0

94.7
91.6
89.5
49.8
137.1
79.4
92.0
58.5
81.8
100.4
98.1

95.9
93.4
92.6
56.1
140.0
81.1
92.2
56.6
81.8
101.2
97.9

96.4
93.7
92.6
56.0
139.5
81.2
92.9
57.0
82.0
102.4
99.0

321
327
331
332
333
334

78.99
75.29
38.10
1.02
2.23
2.49
5.91
4.89
6.89

100.6
101.6
105.3
69.7
91.5
71.9
102.4
99.7
176.2

97.8
98.8
99.9
67.7
86.4
67.3
98.2
96.2
174.9

97.7
98.7
98.7
68.1
84.9
64.5
95.6
94.0
171.6

96.1
97.3
96.4
66.2
81.9
60.7
91.3
88.7
171.4

95.6
96.9
95.7
65.5
82.6
60.5
89.4
86.7
172.8

94.7
96.0
93.7
65.2
81.9
59.5
87.6
83.9
170.7

94.4
95.6
93.0
65.9
81.8
61.2
87.3
82.1
170.5

95.7
97.0
96.0
66.3
84.9
67.5
87.1
82.6
173.9

96.3
97.6
96.4
65.8
83.2
68.1
87.3
83.3
172.6

335
3361–3

2.00
4.51

99.1
69.2

98.2
51.2

95.8
55.8

92.7
56.7

92.1
56.1

91.0
51.8

89.8
49.9

89.7
59.9

90.2
63.2

3364–9
337
339

3.54
1.33
3.27

123.2
79.9
114.5

119.3
79.1
114.6

117.8
76.5
112.4

116.8
75.1
111.6

115.2
72.4
113.0

113.7
72.0
112.4

113.2
70.9
112.1

115.1
71.7
113.1

114.9
70.2
114.1

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

37.20
11.46
.89
.57
2.62
1.80
4.72
12.06
3.08

97.0
106.0
63.6
70.3
81.3
87.4
108.4
98.7
89.4

96.7
106.1
63.9
68.1
80.1
85.3
105.7
99.8
88.2

97.7
107.3
61.7
66.8
82.9
82.7
108.7
101.6
86.0

96.9
107.3
59.7
66.8
78.9
81.6
108.8
101.3
83.4

96.9
106.4
60.3
65.4
78.2
80.1
109.0
102.6
82.9

97.0
107.7
59.2
65.5
80.9
79.6
106.9
102.1
82.2

97.0
106.5
59.1
61.9
82.5
80.2
108.3
102.6
82.2

96.9
105.8
58.0
63.8
82.4
79.5
107.2
102.8
83.2

97.6
107.5
58.2
64.3
82.3
79.4
106.7
103.6
83.3

1133,5111

3.70

84.6

81.4

80.4

76.1

74.1

73.4

74.3

74.3

75.0

21
2211,2
2211
2212

10.60
10.41
8.65
1.76

103.4
111.3
112.7
104.5

102.8
111.5
112.3
107.4

101.3
106.4
108.5
96.4

98.7
106.1
108.5
95.0

96.1
106.4
108.5
96.5

95.0
104.3
107.0
91.6

94.1
103.8
105.5
95.6

94.7
102.2
103.6
95.6

95.2
104.1
105.9
95.7

Item
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
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
Construction supplies
Business supplies
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

r Revised. p Preliminary.
NOTE. Refer to notes on table 1.

9

Table 5
I NDUSTRIAL P RODUCTION I NDEXES : S PECIAL AGGREGATES
2002 = 100, seasonally adjusted

2008
proportion

2008
Dec.

2009
Jan.

Feb.

Mar.r

Apr.r

Mayr

Juner

Julyr

Aug.p

100.00

102.4

100.1

99.3

97.7

97.2

96.1

95.8

96.7

97.4

23.88
6.10
3.04
.78
4.25
9.71

109.2
114.9
115.6
172.7
103.8
104.0

108.7
114.8
117.1
154.4
103.7
103.2

106.1
111.2
114.1
130.7
101.0
102.4

104.8
110.2
113.8
108.3
101.1
101.0

104.0
110.5
114.4
97.5
99.8
99.8

102.1
107.5
111.4
92.1
99.5
98.3

101.4
107.1
111.5
88.4
97.6
98.1

100.7
105.0
111.2
88.3
98.0
97.4

101.8
105.9
112.8
89.3
99.3
98.5

76.12

99.6

96.8

96.6

94.9

94.4

93.6

93.4

94.7

95.3

3341
3342

4.17
1.02
1.32

204.9
185.5
172.5

204.2
181.7
175.2

199.5
177.2
169.1

200.4
173.7
167.6

204.2
170.1
170.1

199.7
166.7
165.9

201.3
163.6
170.6

206.2
161.7
171.9

205.2
159.8
171.8

334412–9

1.84

220.5

218.0

215.8

222.9

233.1

228.4

229.0

242.9

241.4

71.95

94.5

91.8

91.7

90.0

89.4

88.7

88.4

89.6

90.2

4.51
1.92
2.30

69.2
61.7
76.8

51.2
35.8
65.2

55.8
44.7
66.5

56.7
47.4
66.1

56.1
46.4
65.9

51.8
40.5
62.0

49.9
38.3
59.9

59.9
54.1
65.7

63.2
60.5
66.5

67.44
20.65
7.43
4.83
7.32
25.51

96.7
99.3
113.3
88.6
90.8
92.6

95.2
99.1
109.8
85.3
88.7
91.1

94.7
99.3
107.6
84.0
87.7
90.9

92.8
98.7
104.4
82.1
85.5
88.2

92.2
97.8
102.4
81.4
85.0
88.1

91.8
97.7
100.5
81.5
84.6
87.7

91.6
97.6
99.7
81.5
84.8
87.6

92.1
97.4
100.2
82.0
84.8
88.5

92.6
98.3
100.6
82.0
84.9
88.8

95.83
74.82
34.07

98.4
95.6
95.4

96.1
92.9
89.9

95.4
92.9
89.0

93.8
91.2
86.6

93.2
90.7
85.7

92.2
89.9
83.9

91.8
89.6
83.2

92.7
90.7
85.9

93.4
91.4
86.4

95.49
74.48
33.73

104.4
103.2
112.3

103.2
101.6
109.3

102.1
101.1
107.0

100.3
99.3
104.1

99.7
98.8
103.3

98.9
98.2
101.8

98.7
98.1
101.3

99.0
98.6
102.9

99.5
99.0
102.8

91.32
70.31

100.2
97.8

98.9
96.2

97.9
95.9

96.1
94.0

95.5
93.5

94.7
93.0

94.5
92.8

94.7
93.2

95.3
93.6

11.43
17.56

106.0
92.1

100.5
91.1

99.7
91.4

96.7
89.1

96.3
89.6

94.3
89.3

93.3
89.3

96.4
90.4

96.2
90.9

Item
Total industry
Energy
Consumer products
Commercial products
Oil and gas well drilling
Converted fuel
Primary energy

213111

Non-energy
Selected high-technology industries
Computers and peripheral equipment
Communications equipment
Semiconductors and related
electronic components
Excluding selected high-technology
industries
Motor vehicles and parts
Motor vehicles
Motor vehicle parts

3361–3
3361
3363

Excluding motor vehicles and parts
Consumer goods
Business equipment
Construction supplies
Business supplies
Materials

Measures excluding selected high-technology
industries
Total industry
Manufacturing1
Durable
Measures excluding motor vehicles and parts
Total industry
Manufacturing1
Durable
Measures excluding selected high-technology
industries and motor vehicles and parts
Total industry
Manufacturing1

Stage-of-process components of non-energy
materials, measures of the input to
Finished processors
Primary and semifinished processors
r Revised. p Preliminary.
1. Refer to note on cover page.

Table 6
D IFFUSION I NDEXES OF I NDUSTRIAL P RODUCTION
Percent

Item
One month earlier
2007
2008
2009
Three months earlier
2007
2008
2009
Six months earlier
2007
2008
2009

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

44.9
43.9
33.0

57.7
42.0
41.5

54.5
46.2
33.0

59.9
42.3
44.2

45.8
50.3
39.7

58.3
50.6
39.4

51.9
46.2
59.3

45.5
41.3

58.3
29.5

45.5
39.7

58.0
28.8

53.8
20.2

50.0
49.4
16.3

55.6
40.7
20.2

52.1
37.5
30.4

63.1
40.1
38.5

58.7
44.2
35.1

56.7
41.0
38.1

54.8
43.6
43.6

52.9
38.1

54.5
26.6

44.6
30.1

56.1
23.1

51.9
22.4

43.3
46.5
16.0

46.9
47.4
16.0

49.5
47.1
21.8

56.3
44.9
17.9

58.2
39.1
20.2

53.1
34.6
30.8

59.9
36.9
38.6

54.5
38.5

53.8
25.0

47.1
25.3

52.2
25.6

56.4
16.7

NOTE. The diffusion indexes are calculated as the percentage of series that increased over the indicated span (one, three, or six months) plus one-half the percentage that were unchanged.

10

Table 7
C APACITY U TILIZATION
Percent of capacity, seasonally adjusted

2008
proportion

19722008
ave.

199495
high

200102
low

2008
Q4

2009
Q1r

Q2r

2009
Mar.r

Apr.r

Mayr

Juner

Julyr

Aug.p

100.00

80.9

84.9

73.5

74.2

70.4

68.6

69.5

69.2

68.5

68.3

69.0

69.6

31–33

79.68
76.08

79.6
79.4

84.5
84.6

71.4
70.9

70.9
70.9

66.7
66.7

65.3
65.5

66.0
66.1

65.7
65.9

65.2
65.3

65.1
65.2

66.1
66.2

66.6
66.7

321
327
331
332
333
334

39.36
1.27
2.42
2.69
5.61
4.80
7.11

77.8
79.2
77.7
80.5
77.5
78.6
78.3

83.7
87.5
82.5
94.7
85.5
87.9
84.4

67.8
70.4
70.4
68.0
69.4
62.8
58.8

67.1
54.8
63.0
61.4
74.1
70.3
69.4

61.0
49.4
56.1
48.0
67.1
63.3
65.1

58.5
48.5
54.8
45.2
62.6
57.6
63.8

59.9
48.7
54.5
45.4
64.6
60.5
64.4

59.4
48.3
55.0
45.2
63.4
59.2
64.6

58.2
48.3
54.6
44.5
62.2
57.4
63.5

57.8
48.9
54.7
45.8
62.1
56.2
63.1

59.7
49.5
56.8
50.6
62.2
56.6
64.0

60.1
49.2
55.8
51.1
62.4
57.2
63.2

335
3361–3

1.83
5.52

83.2
76.7

93.1
88.7

72.1
69.2

78.4
53.6

73.6
40.0

70.1
38.9

71.4
41.7

70.9
41.4

70.2
38.4

69.3
37.1

69.3
44.8

69.8
47.4

3364–9
337
339

3.32
1.39
3.40

73.2
78.4
76.5

68.6
83.1
81.3

64.4
68.3
71.0

72.0
65.1
69.4

76.7
61.6
67.2

74.1
58.3
66.9

75.9
60.4
66.4

74.8
58.5
67.2

73.9
58.5
66.8

73.5
57.8
66.7

74.8
58.7
67.2

74.7
57.8
67.9

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

36.72
10.86
.96
.56
2.41
1.79
5.00
12.17
2.97

81.5
81.5
81.6
79.5
87.6
83.4
86.1
78.2
83.6

85.7
85.0
91.7
88.1
92.7
87.0
91.1
81.1
92.2

75.0
75.6
68.7
63.6
78.8
72.7
86.0
69.5
74.6

74.8
77.1
64.7
72.2
74.4
72.7
85.7
70.0
72.7

72.8
76.2
60.1
67.9
70.3
68.2
83.9
68.8
67.3

73.1
76.3
59.0
65.6
70.5
66.7
84.2
70.1
65.1

72.8
76.5
58.5
67.7
68.9
67.3
84.8
69.1
65.6

72.9
75.9
59.4
66.5
68.4
66.4
84.9
70.2
65.3

73.1
76.9
58.6
66.8
70.9
66.4
83.3
69.9
64.9

73.2
76.0
58.9
63.5
72.4
67.3
84.5
70.4
65.1

73.2
75.6
58.1
65.6
72.5
67.1
83.6
70.6
66.1

73.9
76.9
58.7
66.4
72.4
67.4
83.3
71.3
66.3

1133,5111

3.61

84.2

83.0

79.8

72.5

66.9

62.6

64.2

62.6

62.1

62.9

63.0

63.6

21
2211,2

11.14
9.17

87.6
86.8

89.1
93.3

84.9
84.2

89.6
83.6

86.8
82.4

81.9
79.6

84.9
80.8

82.7
80.9

81.8
79.2

81.1
78.7

81.7
77.3

82.2
78.7

3341
3342

4.24
.98
1.33

78.2
78.1
76.2

86.5
87.3
82.9

56.5
66.8
41.6

69.8
74.1
74.3

64.1
68.9
72.0

63.0
64.1
69.9

63.5
67.3
70.3

64.2
65.6
70.9

62.4
64.1
68.7

62.4
62.5
70.2

63.4
61.4
70.4

62.6
60.3
70.0

334412–9

1.92

80.6

91.7

58.0

64.5

56.4

57.9

57.0

59.2

57.5

57.1

60.0

59.0

Measures excluding selected
high-technology industries
Total industry
Manufacturing1

95.76
75.44

81.0
79.7

84.9
84.4

74.7
72.7

74.4
71.0

70.7
66.8

68.9
65.5

69.8
66.1

69.4
65.8

68.7
65.3

68.5
65.2

69.2
66.2

69.9
66.8

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

15.83
46.62
37.55

86.6
82.0
77.7

89.9
87.9
80.3

81.7
74.3
70.0

83.8
73.4
71.0

80.9
68.4
68.4

79.5
66.2
67.1

79.5
67.1
68.2

79.4
66.9
67.6

79.5
65.9
67.0

79.5
65.8
66.7

80.0
66.3
67.7

80.7
66.7
68.5

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

r Revised. p Preliminary.
1. Refer to note on cover page.

11

Table 8
I NDUSTRIAL C APACITY
Percent change

Average annual rate
19721980198979
88
94

Item

Total industry

Fourth quarter to fourth quarter
19952009

2006

2007

2008

2009

Q3

Annual rate
2009
Q1
Q2

2008
Q4

Monthly
rate
2009
Aug.

3.1

1.9

2.3

2.7

1.5

2.0

1.1

-.9

.4

-.2

-.8

-1.3

-.1

Manufacturing

3.3

2.2

2.5

3.1

1.4

2.2

1.3

-1.2

.4

-.4

-1.1

-1.5

-.1

Mining
Utilities

.7
4.2

.0
2.2

-.8
1.8

-.3
2.2

2.3
1.3

1.4
1.3

1.1
2.3

-.7
1.8

1.0
1.9

.3
1.8

-.5
1.7

-1.3
1.8

-.1
.2

19.8

17.3

15.6

22.3

5.7

22.9

6.3

8.4

3.6

5.8

8.4

9.8

.8

2.6

1.3

1.6

1.4

1.1

1.0

1.0

-1.6

.2

-.7

-1.6

-2.1

-.2

1.7
3.0
3.9

.3
1.4
3.3

-.4
2.5
2.7

.0
3.2
3.0

1.5
1.3
1.8

1.4
2.0
2.4

1.2
.8
2.2

-1.2
-1.0
-.6

.7
.0
1.2

-.2
-.5
.2

-1.1
-.9
-.5

-1.8
-1.2
-1.0

-.2
-.1
-.1

1

Selected high-technology industries
Manufacturing1 ex. selected
high-technology industries

S TAGE - OF - PROCESS GROUPS
Crude
Primary and semifinished
Finished
1. Refer to note on cover page.

Table 9
G ROSS VALUE OF F INAL P RODUCTS AND N ONINDUSTRIAL S UPPLIES
Billions of 2000 dollars at annual rate, seasonally adjusted

2000

2008

2008
Q4

2009
Q1r

Q2r

2009
Mar.r

Apr.r

Mayr

Juner

Julyr

Aug.p

2,815.3

2,946.7

2,851.1

2,717.3

2,648.6

2,695.0

2,676.1

2,638.5

2,631.2

2,661.0

2,689.2

2,106.9
1,475.5
472.7
278.7
194.0
1,002.9

2,238.6
1,559.7
445.6
258.1
187.5
1,097.3

2,178.9
1,532.3
403.0
228.7
174.1
1,102.2

2,085.3
1,472.6
341.3
178.0
162.9
1,092.5

2,030.2
1,450.9
337.1
179.6
157.2
1,075.9

2,073.2
1,473.8
348.0
188.8
159.0
1,088.5

2,054.7
1,466.9
347.3
187.7
159.4
1,082.7

2,022.4
1,446.6
334.9
177.8
156.8
1,073.7

2,013.6
1,439.1
329.1
173.4
155.4
1,071.4

2,042.6
1,460.2
365.2
208.0
157.2
1,061.5

2,069.7
1,481.6
377.5
221.8
155.9
1,071.4

Equipment, total
Business and defense
Business
Defense and space

631.4
615.0
560.4
54.5

689.7
671.4
599.1
72.5

651.6
632.5
559.2
72.2

616.1
605.9
532.0
71.9

578.1
573.8
498.2
72.1

600.0
593.6
519.2
71.9

586.9
582.0
507.2
71.8

574.2
569.8
494.0
72.1

573.2
569.5
493.5
72.3

581.0
577.1
499.6
73.6

586.3
582.3
504.7
73.8

Nonindustrial supplies
Construction supplies
Business supplies
Commercial energy products

708.4
211.8
496.5
135.7

709.6
202.9
507.3
156.7

675.0
188.6
487.4
155.1

635.5
169.4
467.7
154.7

621.5
165.1
458.0
151.3

625.9
166.0
461.6
153.4

624.9
164.8
461.9
154.2

619.3
165.2
455.5
149.7

620.3
165.3
456.5
150.0

622.0
166.8
456.5
150.1

623.8
166.7
458.5
151.7

Item
Final products and nonindustrial
supplies
Final products
Consumer goods
Durable
Automotive products
Other durable goods
Nondurable

r Revised. p Preliminary.

Table 10
G ROSS -VALUE -W EIGHTED I NDUSTRIAL P RODUCTION : S TAGE - OF -P ROCESS G ROUPS
Percent change, seasonally adjusted

Fourth quarter to
fourth quarter
Item

Finished
Semifinished
Primary
Crude

2008
gross value1

2006

2007

2008

2008
Q4

1926.7
1668.3
960.3
417.8

2.2
-1.5
-.3
7.8

1.0
2.1
2.2
2.0

-7.6
-7.7
-7.2
-7.9

-14.6
-17.2
-8.0
-13.0

r Revised. p Preliminary.
1. Billions of 2000 dollars.

12

Annual rate
2009
Q1r
Q2r
-20.3
-26.5
-16.1
-10.2

-9.8
-14.4
-7.9
4.1

Monthly rate
2009
Mar.r

Apr.

-.7
-2.2
-1.6
-1.6

-1.2
-.4
.1
1.0

r

r

r

May

June

-1.1
-1.5
-2.0
.7

-.8
-1.1
1.2
.3

r

July

2.5
1.0
.2
.3

Aug.

p

1.7
.5
.1
.7

Aug. ’08
to
Aug. ’09
-8.5
-14.7
-9.6
-7.4

Table 11
H ISTORICAL S TATISTICS FOR I NDUSTRIAL P RODUCTION , C APACITY, AND U TILIZATION : Total Industry
Seasonally adjusted

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual

IP (percent
change)1
1987
1988
1989
1990
1991

-.3
.0
.2
-.5
-.5

1.3
.4
-.4
.9
-.6

.1
.2
.3
.5
-.5

.6
.5
.0
-.1
.2

.7
-.1
-.7
.2
1.0

.5
.2
.0
.3
1.0

.6
.2
-.9
-.1
.0

.7
.5
.9
.2
.1

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

1.5
.5
-.1
-.7
-.2

.5
.2
.3
-1.2
-.1

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

5.5
3.6
1.6
3.1
-7.4

7.0
3.6
-1.7
2.8
2.6

7.3
2.1
-2.4
1.2
5.5

10.2
2.9
1.8
-6.1
.9

5.2
5.2
.9
1.0
-1.6

1992
1993
1994
1995
1996

-.6
.5
.4
.3
-.7

.8
.3
.0
.0
1.7

.8
.0
1.1
.2
-.2

.7
.3
.5
.0
.8

.4
-.4
.6
.2
.6

.0
.2
.7
.3
.9

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

-.5
.0
.5
1.4
.6

.2
.4
.2
.4
.6

.7
.7
.9
-.2
.0

.4
.4
.6
.3
.8

.0
.5
1.1
.4
.6

-.5
3.6
5.2
5.1
2.9

7.2
.9
7.5
1.2
8.1

2.9
2.1
5.1
3.9
5.4

4.0
6.0
8.1
3.4
5.6

2.8
3.3
5.3
4.8
4.4

1997
1998
1999
2000
2001

.1
.5
.5
.0
-.7

1.2
.0
.4
.4
-.6

.8
.1
.2
.4
-.3

.0
.4
.2
.6
-.3

.7
.7
.7
.2
-.7

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

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

1.4
2.1
.5
-.2
-.4

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

.7
.7
1.4
-.4
-.6

.9
-.1
.6
.0
-.5

.4
.3
.8
-.4
.0

7.9
4.4
4.4
4.8
-5.7

6.4
3.2
3.7
4.9
-5.3

9.6
2.9
4.1
-.3
-5.7

10.4
5.1
8.1
-1.2
-5.0

7.3
5.9
4.3
4.2
-3.4

2002
2003
2004
2005
2006

.5
.7
.3
.4
.0

.0
.3
.5
.6
.0

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

.3
-.8
.5
.0
.4

.5
.0
.7
.3
-.1

.9
.1
-.9
.4
.4

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

.1
-.1
.2
.2
.2

.1
.6
.0
-1.7
-.3

-.3
.1
.9
1.1
-.1

.4
.9
.2
1.1
-.2

-.5
-.1
.7
.6
.8

2.5
2.9
2.8
5.7
3.6

5.9
-3.0
1.8
1.7
2.2

2.1
2.6
1.9
-.7
2.0

-.4
4.1
5.7
4.0
-.6

-.1
1.3
2.5
3.3
2.3

2007
2008
2009

-.5
-.1
-2.2

.8
-.3
-.8

-.2
-.4
-1.6

.4
-.6
-.6

.1
-.3
-1.1

.0
-.2
-.4

.3
-.1
1.0

.1
-1.1
.8

.4
-4.0

-.5
1.3

.6
-1.3

.3
-2.3

1.8
.2
-19.0

2.4
-4.6
-10.5

2.1
-9.0

.8
-13.0

1.5
-2.2

IP (2002=100)
2007
2008
2009

109.9
112.3
100.1

110.8
112.0
99.3

110.6
111.6
97.7

111.1
111.0
97.2

111.1
110.7
96.1

111.2
110.4
95.8

111.5
110.4
96.7

111.6
109.2
97.4

112.0
104.8

111.4
106.2

112.1
104.8

112.4
102.4

110.5
112.0
99.1

111.1
110.7
96.4

111.7
108.1

112.0
104.4

111.3
108.8

Capacity
(percent of
2002 output)
2007
2008
2009

136.9
139.6
140.7

137.1
139.8
140.7

137.3
139.9
140.6

137.6
140.1
140.5

137.8
140.2
140.4

138.0
140.4
140.2

138.3
140.5
140.1

138.5
140.6
139.9

138.7
140.7

139.0
140.7

139.2
140.7

139.4
140.7

137.1
139.8
140.7

137.8
140.2
140.4

138.5
140.6

139.2
140.7

138.1
140.3

Utilization
(percent)
1987
1988
1989
1990
1991

79.0
83.4
85.1
82.5
79.9

79.9
83.6
84.6
83.1
79.2

79.9
83.8
84.7
83.3
78.7

80.2
84.2
84.6
83.0
78.8

80.6
84.1
83.8
83.0
79.5

80.8
84.2
83.7
83.1
80.1

81.2
84.3
82.8
82.8
80.0

81.6
84.7
83.3
82.9
80.0

81.7
84.3
83.0
82.9
80.6

82.8
84.7
82.7
82.2
80.4

83.1
84.8
82.8
81.0
80.2

83.4
85.0
83.1
80.3
79.8

79.6
83.6
84.8
83.0
79.3

80.5
84.2
84.0
83.1
79.5

81.5
84.4
83.0
82.9
80.2

83.1
84.8
82.9
81.2
80.1

81.2
84.3
83.7
82.5
79.8

1992
1993
1994
1995
1996

79.1
81.2
82.5
84.9
82.6

79.6
81.4
82.3
84.6
83.6

80.1
81.3
83.0
84.4
83.1

80.5
81.4
83.2
84.1
83.4

80.6
81.0
83.4
84.0
83.5

80.5
81.1
83.7
83.9
83.9

81.0
81.3
83.6
83.3
83.4

80.4
81.2
83.7
84.2
83.5

80.5
81.4
83.6
84.2
83.6

80.9
81.9
84.1
83.7
83.2

81.1
82.1
84.3
83.6
83.5

80.9
82.3
84.9
83.6
83.7

79.6
81.3
82.6
84.6
83.1

80.6
81.2
83.4
84.0
83.6

80.6
81.3
83.6
83.9
83.5

81.0
82.1
84.4
83.6
83.5

80.4
81.5
83.5
84.0
83.4

1997
1998
1999
2000
2001

83.3
84.6
82.1
82.3
79.3

83.9
84.1
82.1
82.4
78.6

84.2
83.6
81.9
82.4
78.1

83.8
83.5
81.7
82.6
77.7

83.9
83.6
82.0
82.5
76.9

83.8
82.6
81.5
82.3
76.2

83.8
81.8
81.8
81.8
75.7

84.4
83.1
81.9
81.4
75.2

84.7
82.4
81.3
81.5
74.7

84.7
82.6
82.1
80.9
74.1

85.0
82.1
82.2
80.7
73.6

84.7
82.0
82.6
80.1
73.5

83.8
84.1
82.0
82.4
78.7

83.8
83.2
81.8
82.5
76.9

84.3
82.4
81.6
81.6
75.2

84.8
82.2
82.3
80.6
73.7

84.2
83.0
81.9
81.7
76.1

2002
2003
2004
2005
2006

73.7
75.5
77.0
79.7
80.9

73.6
75.8
77.4
80.2
80.8

74.1
75.7
76.9
80.1
80.8

74.2
75.1
77.3
80.0
81.0

74.5
75.2
77.9
80.2
80.8

75.2
75.3
77.2
80.4
81.1

74.9
75.6
77.7
80.3
81.1

75.0
75.6
77.9
80.4
81.2

75.0
76.0
77.9
78.9
80.8

74.9
76.1
78.7
79.7
80.6

75.2
76.8
78.8
80.5
80.3

74.9
76.7
79.4
80.9
80.9

73.8
75.6
77.1
80.0
80.8

74.7
75.2
77.5
80.2
81.0

75.0
75.7
77.9
79.9
81.1

75.0
76.5
79.0
80.4
80.6

74.6
75.8
77.9
80.1
80.9

2007
2008
2009

80.3
80.5
71.1

80.8
80.2
70.6

80.6
79.8
69.5

80.7
79.2
69.2

80.7
78.9
68.5

80.6
78.7
68.3

80.7
78.6
69.0

80.6
77.6
69.6

80.7
74.5

80.2
75.4

80.5
74.4

80.6
72.7

80.6
80.1
70.4

80.6
78.9
68.6

80.7
76.9

80.4
74.2

80.6
77.6

1. Quarterly changes are at annual rates. Annual changes are calculated from annual averages.

13

Table 12
H ISTORICAL S TATISTICS FOR I NDUSTRIAL P RODUCTION , C APACITY, AND U TILIZATION : Manufacturing1
Seasonally adjusted

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual

IP (percent
change)2
1987
1988
1989
1990
1991

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

1.4
.2
-.9
1.4
-.6

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

.5
.9
.1
-.3
.3

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

.4
.1
.2
.2
1.1

.7
.1
-1.1
-.2
.2

.5
.1
.9
.2
.2

.6
.3
-.2
.0
1.1

1.6
.5
-.2
-.8
-.2

.6
.3
.2
-1.1
-.3

.6
.4
.1
-.8
-.1

6.1
2.6
1.8
4.6
-8.8

6.7
4.5
-3.1
2.7
2.1

7.1
1.4
-2.9
.6
7.1

11.7
4.5
.6
-6.7
1.6

5.7
5.4
.8
.8
-2.0

1992
1993
1994
1995
1996

-.6
1.1
.2
.3
-.8

.9
.1
.1
-.1
1.7

1.0
-.2
1.3
.2
-.2

.5
.6
.8
-.1
1.0

.6
-.1
.7
.0
.7

.3
-.1
.3
.4
1.1

.8
.3
.4
-.6
.3

-.4
-.1
.7
1.2
.6

.1
.6
.3
.9
.7

.6
.8
1.0
-.1
-.1

.4
.4
.8
.1
.8

-.2
.5
1.1
.4
.9

.6
4.5
5.0
5.4
2.1

8.2
1.4
9.5
.6
9.1

4.0
1.3
5.9
3.2
7.8

2.8
6.8
9.8
4.2
5.8

3.6
3.5
5.9
5.2
4.8

1997
1998
1999
2000
2001

.1
.8
.4
.1
-.6

1.4
.0
.7
.3
-.6

1.2
-.1
-.1
.7
-.3

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

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

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

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

1.7
2.5
.8
-.5
-.7

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

.6
.9
1.6
-.4
-.7

1.1
.2
.7
-.3
-.2

.5
.5
.7
-.7
.2

9.4
6.0
5.0
5.3
-6.6

7.6
2.7
4.2
4.7
-5.5

10.8
3.0
3.8
-.5
-6.3

11.1
7.3
9.8
-2.8
-4.8

8.5
6.7
5.0
4.5
-4.1

2002
2003
2004
2005
2006

.4
.6
.1
.7
.7

.0
.1
.7
.8
-.3

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

.0
-1.0
.5
.1
.5

.7
.1
.7
.5
-.3

1.1
.5
-.8
.2
.3

-.4
.1
.8
.0
.1

.3
-.2
.6
.3
.3

.1
.8
-.2
-1.0
-.2

-.5
.1
1.0
1.6
-.5

.4
1.1
.0
.9
-.2

-.5
-.2
.7
.1
1.2

3.0
2.4
2.5
6.2
3.3

5.2
-2.0
2.9
1.9
1.0

2.9
2.3
3.6
.5
1.4

-.9
4.6
5.2
6.6
-.9

-.1
1.3
3.0
4.0
2.5

2007
2008
2009

-.6
-.3
-2.8

.3
-.5
-.1

.4
-.1
-1.7

.3
-.9
-.5

.0
-.2
-.9

.3
-.4
-.3

.6
-.3
1.4

-.4
-.9
.6

.4
-3.7

-.4
.3

.4
-2.2

.3
-2.9

1.7
-1.2
-22.0

3.2
-5.4
-9.0

2.4
-9.3

.1
-18.1

1.4
-3.2

IP (2002=100)
2007
2008
2009

111.4
113.4
97.8

111.7
112.8
97.7

112.2
112.7
96.1

112.5
111.7
95.6

112.5
111.5
94.7

112.9
111.0
94.4

113.5
110.8
95.7

113.0
109.7
96.3

113.4
105.7

112.9
106.0

113.3
103.6

113.7
100.6

111.7
113.0
97.2

112.6
111.4
94.9

113.3
108.7

113.3
103.4

112.7
109.1

Capacity
(percent of
2002 output)
2007
2008
2009

141.3
144.5
145.7

141.5
144.7
145.7

141.8
144.9
145.6

142.0
145.1
145.4

142.3
145.3
145.3

142.6
145.5
145.1

142.9
145.6
144.9

143.2
145.7
144.7

143.4
145.8

143.7
145.8

144.0
145.8

144.2
145.8

141.5
144.7
145.7

142.3
145.3
145.3

143.1
145.7

144.0
145.8

142.7
145.4

Utilization
(percent)
1987
1988
1989
1990
1991

79.0
83.0
85.4
81.6
78.5

79.9
83.1
84.5
82.6
77.9

79.8
83.3
84.3
82.8
77.2

80.0
84.0
84.2
82.4
77.4

80.4
83.8
83.3
82.3
77.8

80.5
83.9
83.3
82.3
78.5

80.8
84.0
82.2
82.0
78.6

81.1
84.0
82.7
82.0
78.7

81.4
84.2
82.3
81.8
79.4

82.5
84.6
82.0
81.0
79.2

82.9
84.7
82.0
80.0
78.9

83.3
84.9
81.9
79.2
78.7

79.6
83.2
84.7
82.3
77.9

80.3
83.9
83.6
82.3
77.9

81.1
84.0
82.4
81.9
78.9

82.9
84.7
82.0
80.1
78.9

81.0
84.0
83.2
81.7
78.4

1992
1993
1994
1995
1996

78.0
80.4
81.2
84.4
81.4

78.6
80.3
81.1
84.0
82.3

79.2
80.1
82.0
83.9
81.7

79.4
80.4
82.4
83.5
82.1

79.7
80.2
82.7
83.2
82.2

79.8
80.0
82.7
83.2
82.6

80.2
80.1
82.7
82.4
82.4

79.7
79.9
83.0
83.0
82.5

79.6
80.3
83.0
83.4
82.6

79.9
80.8
83.5
82.9
82.1

80.0
81.0
83.8
82.5
82.3

79.7
81.2
84.5
82.5
82.5

78.6
80.2
81.4
84.1
81.8

79.6
80.2
82.6
83.3
82.3

79.8
80.1
82.9
82.9
82.5

79.8
81.0
83.9
82.6
82.3

79.5
80.4
82.7
83.2
82.2

1997
1998
1999
2000
2001

82.1
83.8
80.9
81.0
76.9

82.8
83.2
81.1
80.9
76.2

83.3
82.5
80.6
81.1
75.7

82.6
82.4
80.5
81.3
75.3

82.9
82.3
80.9
80.8
74.5

82.9
81.2
80.3
80.7
73.8

82.7
80.3
80.3
80.3
73.4

83.5
81.8
80.5
79.6
72.7

83.7
81.0
79.9
79.6
72.3

83.6
81.3
80.8
79.0
71.7

83.9
81.0
81.0
78.5
71.4

83.7
81.0
81.3
77.7
71.5

82.8
83.2
80.9
81.0
76.3

82.8
82.0
80.6
80.9
74.5

83.3
81.0
80.3
79.9
72.8

83.7
81.1
81.0
78.4
71.5

83.2
81.8
80.7
80.1
73.8

2002
2003
2004
2005
2006

71.7
73.3
74.8
78.1
79.8

71.7
73.5
75.4
78.7
79.5

72.1
73.7
75.2
78.3
79.3

72.1
73.0
75.6
78.3
79.6

72.5
73.1
76.1
78.5
79.3

73.3
73.5
75.5
78.6
79.5

73.0
73.6
76.2
78.4
79.5

73.2
73.4
76.6
78.6
79.6

73.3
74.0
76.5
77.7
79.4

72.9
74.1
77.2
78.8
78.9

73.2
74.9
77.2
79.4
78.7

72.9
74.8
77.6
79.4
79.5

71.8
73.5
75.1
78.3
79.6

72.6
73.2
75.7
78.5
79.5

73.1
73.7
76.4
78.2
79.5

73.0
74.6
77.3
79.2
79.0

72.7
73.7
76.2
78.6
79.4

2007
2008
2009

78.8
78.5
67.1

78.9
78.0
67.1

79.1
77.8
66.0

79.2
77.0
65.7

79.1
76.7
65.2

79.1
76.3
65.1

79.4
76.1
66.1

78.9
75.3
66.6

79.1
72.5

78.6
72.7

78.7
71.1

78.8
69.0

79.0
78.1
66.7

79.1
76.7
65.3

79.1
74.6

78.7
70.9

79.0
75.1

1. Refer to note on cover page.
2. Quarterly changes are at annual rates. Annual changes are calculated from annual averages.

14

Table 13
H ISTORICAL S TATISTICS FOR I NDUSTRIAL P RODUCTION , C APACITY,
High-Technology Industries1

AND

U TILIZATION : Total Industry Excluding Selected

Seasonally adjusted

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Q1

Q2

Q3

Q4

Annual

-.5
.0
.3
-.7
-.4

1.2
.4
-.4
.9
-.7

.2
.2
.3
.5
-.6

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

.6
-.1
-.7
.1
1.0

.4
.2
.0
.2
1.0

.5
.1
-1.1
-.2
.0

.6
.5
.9
.2
.0

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

1.4
.5
-.2
-.8
-.2

.5
.2
.2
-1.3
-.2

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

4.5
3.1
1.9
2.3
-8.0

6.2
2.8
-1.8
2.3
2.2

6.0
1.5
-3.3
.9
5.4

9.1
2.6
1.0
-6.7
.5

4.3
4.4
.6
.3
-2.0

1992
1993
1994
1995
1996

-.8
.5
.4
.2
-1.0

.7
.3
.0
-.2
1.4

.8
-.1
.9
-.1
-.3

.6
.3
.3
-.3
.7

.3
-.5
.4
.0
.5

-.1
.2
.6
.1
.7

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

-.6
-.1
.3
1.1
.4

.1
.3
.0
.1
.4

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

.3
.3
.4
.1
.8

.0
.5
.9
.2
.5

-2.0
3.2
4.4
3.0
-.4

6.1
.2
5.4
-1.4
6.2

1.8
1.5
3.2
1.4
2.2

2.9
5.1
5.6
.4
3.2

1.9
2.5
4.0
2.4
1.7

1997
1998
1999
2000
2001

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

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

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

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

.3
.6
.6
-.1
-.7

.2
-.9
-.5
.0
-.5

.2
-.8
.3
-.5
-.3

1.1
2.0
.4
-.4
-.3

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

.6
.5
1.2
-.5
-.6

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

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

5.1
1.9
.8
.4
-6.3

2.2
1.0
.3
1.7
-4.4

6.0
-.3
1.2
-2.7
-4.6

7.9
2.0
5.8
-2.7
-4.9

4.2
3.1
1.2
1.1
-4.0

2002
2003
2004
2005
2006

.7
.7
.2
.4
.0

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

.8
-.3
-.6
-.2
.2

.2
-1.0
.5
-.1
.3

.5
-.1
.8
.2
-.2

.8
.0
-.9
.3
.3

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

.0
-.1
.2
.0
.1

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

-.3
-.1
.9
1.1
-.1

.4
.8
.3
1.1
-.2

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

2.8
1.5
2.0
5.0
3.1

5.4
-4.5
1.9
.9
1.5

1.3
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

2007
2008
2009

-.5
-.1
-2.3

.8
-.4
-.7

-.3
-.5
-1.7

.3
-.7
-.7

.0
-.3
-1.0

-.1
-.2
-.4

.2
.0
.9

.0
-1.1
.8

.3
-4.1

-.7
1.5

.5
-1.1

.3
-2.2

1.7
-.6
-18.8

1.8
-5.3
-10.9

1.0
-9.0

-.1
-11.7

.9
-2.8

IP (2002=100)
2007
2008
2009

106.3
107.7
96.1

107.2
107.3
95.4

106.9
106.8
93.8

107.2
106.1
93.2

107.3
105.8
92.2

107.2
105.6
91.8

107.4
105.6
92.7

107.4
104.4
93.4

107.7
100.2

107.0
101.7

107.5
100.6

107.8
98.4

106.8
107.3
95.1

107.2
105.8
92.4

107.5
103.4

107.5
100.2

107.2
104.2

Capacity
(percent of
2002 output)
2007
2008
2009

132.4
133.8
134.7

132.5
133.9
134.6

132.6
134.0
134.5

132.7
134.2
134.3

132.8
134.3
134.2

132.9
134.4
134.0

133.0
134.5
133.8

133.1
134.6
133.6

133.2
134.7

133.4
134.7

133.5
134.7

133.6
134.7

132.5
133.9
134.6

132.8
134.3
134.2

133.1
134.6

133.5
134.7

133.0
134.4

Utilization
(percent)
1987
1988
1989
1990
1991

79.2
83.6
85.4
82.7
80.1

80.1
84.0
85.0
83.3
79.4

80.1
84.1
85.2
83.6
78.9

80.4
84.5
85.0
83.3
78.9

80.8
84.3
84.2
83.3
79.6

81.1
84.5
84.1
83.4
80.3

81.4
84.5
83.1
83.1
80.2

81.8
84.9
83.7
83.2
80.1

81.9
84.5
83.3
83.2
80.8

83.0
84.9
83.0
82.5
80.5

83.4
85.0
83.0
81.3
80.3

83.7
85.3
83.4
80.6
79.8

79.8
83.9
85.2
83.2
79.5

80.8
84.4
84.4
83.3
79.6

81.7
84.7
83.3
83.2
80.4

83.4
85.1
83.1
81.4
80.2

81.4
84.5
84.0
82.8
79.9

1992
1993
1994
1995
1996

79.0
81.4
82.6
84.9
82.4

79.6
81.6
82.5
84.6
83.4

80.1
81.4
83.1
84.4
83.0

80.5
81.6
83.2
84.0
83.4

80.6
81.1
83.4
83.9
83.7

80.5
81.2
83.8
83.8
84.1

81.0
81.4
83.7
83.2
83.6

80.5
81.3
83.8
84.0
83.7

80.5
81.5
83.7
84.0
83.8

80.9
82.0
84.1
83.5
83.4

81.1
82.1
84.3
83.4
83.9

81.1
82.4
84.9
83.4
84.1

79.6
81.5
82.8
84.6
82.9

80.5
81.3
83.5
83.9
83.7

80.7
81.4
83.7
83.8
83.7

81.0
82.2
84.4
83.4
83.8

80.4
81.6
83.6
83.9
83.5

1997
1998
1999
2000
2001

83.8
84.7
82.2
81.8
79.0

84.3
84.3
82.1
81.7
78.5

84.5
84.0
81.8
81.7
78.1

83.9
83.8
81.5
81.9
77.9

83.9
84.1
81.8
81.7
77.3

83.8
83.0
81.3
81.6
76.8

83.7
82.1
81.3
81.1
76.5

84.3
83.5
81.5
80.7
76.2

84.6
82.7
81.0
80.9
75.8

84.8
82.9
81.9
80.4
75.3

85.0
82.4
81.9
80.2
74.9

84.8
82.2
82.3
79.6
74.7

84.2
84.3
82.0
81.7
78.5

83.9
83.7
81.5
81.8
77.4

84.2
82.8
81.3
80.9
76.2

84.9
82.5
82.0
80.1
75.0

84.3
83.3
81.7
81.1
76.7

2002
2003
2004
2005
2006

75.2
76.8
77.6
80.2
81.0

75.1
77.0
77.9
80.7
80.8

75.6
76.9
77.4
80.6
80.9

75.8
76.2
77.9
80.5
81.0

76.1
76.2
78.5
80.7
80.8

76.7
76.2
77.7
80.9
81.0

76.4
76.5
78.3
80.7
81.0

76.4
76.4
78.4
80.7
81.0

76.5
76.9
78.4
79.1
80.6

76.3
76.9
79.1
79.9
80.4

76.7
77.5
79.4
80.7
80.2

76.2
77.4
79.9
81.1
80.8

75.3
76.9
77.6
80.5
80.9

76.2
76.2
78.0
80.7
80.9

76.5
76.6
78.4
80.2
80.9

76.4
77.3
79.5
80.5
80.5

76.1
76.7
78.4
80.5
80.8

2007
2008
2009

80.3
80.5
71.4

80.9
80.2
70.9

80.6
79.7
69.8

80.8
79.1
69.4

80.8
78.8
68.7

80.7
78.6
68.5

80.7
78.5
69.2

80.7
77.6
69.9

80.8
74.4

80.2
75.5

80.6
74.6

80.7
73.0

80.6
80.1
70.7

80.7
78.8
68.9

80.7
76.8

80.5
74.4

80.6
77.5

IP (percent
change)2
1987
1988
1989
1990
1991

1. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components.
2. Quarterly changes are at annual rates. Annual changes are calculated from annual averages.

15

Table 14
H ISTORICAL S TATISTICS FOR I NDUSTRIAL P RODUCTION , 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

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

1.4
.2
-1.0
1.4
-.7

.1
.2
.0
.4
-.8

.4
.8
.0
-.3
.4

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

.2
.1
.2
.2
1.1

.6
.0
-1.3
-.2
.3

.4
.1
.9
.2
.1

.5
.3
-.3
-.1
1.1

1.5
.5
-.3
-.9
-.2

.6
.3
.1
-1.2
-.3

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

4.9
2.0
2.2
3.7
-9.6

5.7
3.6
-3.4
2.0
1.5

5.5
.6
-4.0
.1
7.1

10.5
4.2
-.5
-7.5
1.2

4.6
4.4
.4
.0
-2.6

1992
1993
1994
1995
1996

-.9
1.1
.1
.2
-1.2

.9
.0
.1
-.3
1.4

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

.4
.5
.5
-.4
1.0

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

.1
-.2
.2
.2
.8

.8
.3
.3
-.8
.0

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

-.1
.5
.1
.6
.5

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

.3
.3
.5
-.1
.7

-.2
.5
.9
.1
.7

-1.2
4.1
4.0
3.0
-1.9

6.9
.5
7.1
-2.5
7.0

2.6
.5
3.7
.3
4.2

1.4
5.7
6.9
.8
3.0

2.6
2.5
4.4
2.5
1.5

1997
1998
1999
2000
2001

-.2
.6
.0
-.4
-.6

1.1
-.2
.4
-.1
-.5

.9
-.3
-.4
.3
-.3

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

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

.4
-1.1
-.7
.1
-.5

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

1.4
2.4
.7
-.8
-.7

.6
-.7
-.5
.4
-.3

.5
.7
1.5
-.5
-.7

.9
-.1
.4
-.6
-.2

.2
.2
.4
-.9
.1

6.2
3.1
.8
.1
-7.4

2.7
.1
.2
.9
-4.5

6.5
-.6
.4
-3.4
-5.0

8.3
3.8
7.2
-4.7
-4.8

4.9
3.5
1.4
.8
-4.9

2002
2003
2004
2005
2006

.6
.6
-.1
.6
.7

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

.8
.1
-.3
-.5
-.2

-.1
-1.1
.5
.0
.5

.6
.0
.8
.4
-.4

1.0
.4
-.9
.1
.2

-.5
-.1
.9
-.2
.0

.2
-.3
.6
.1
.2

.1
.8
-.3
-1.3
-.3

-.5
-.1
1.0
1.5
-.5

.3
1.0
.0
.8
-.2

-.7
-.3
.6
.0
1.2

3.5
.7
1.5
5.5
2.6

4.6
-3.8
3.1
.9
.0

1.9
.8
3.3
-1.2
.3

-1.7
3.6
4.9
5.1
-1.2

.0
.0
2.2
3.2
1.5

2007
2008
2009

-.7
-.3
-2.9

.3
-.7
.0

.4
-.2
-1.8

.2
-1.0
-.6

.0
-.2
-.9

.2
-.4
-.3

.4
-.2
1.3

-.5
-.9
.7

.3
-3.8

-.6
.6

.3
-2.0

.2
-2.9

1.5
-2.3
-21.9

2.4
-6.4
-9.5

1.0
-9.3

-1.2
-16.8

.7
-4.0

IP (2002=100)
2007
2008
2009

106.9
107.7
92.9

107.1
107.0
92.9

107.5
106.7
91.2

107.8
105.6
90.7

107.7
105.4
89.9

107.9
105.0
89.6

108.4
104.8
90.7

107.8
103.8
91.4

108.1
99.9

107.5
100.5

107.8
98.5

108.0
95.6

107.2
107.1
92.3

107.8
105.4
90.0

108.1
102.8

107.7
98.2

107.7
103.4

Capacity
(percent of
2002 output)
2007
2008
2009

135.8
137.3
138.2

135.9
137.5
138.1

136.0
137.6
137.9

136.1
137.8
137.8

136.2
137.9
137.5

136.3
138.1
137.3

136.4
138.2
137.1

136.5
138.3
136.8

136.7
138.3

136.8
138.4

137.0
138.3

137.1
138.3

135.9
137.5
138.1

136.2
137.9
137.5

136.5
138.3

137.0
138.3

136.4
138.0

Utilization
(percent)
1987
1988
1989
1990
1991

79.2
83.4
85.9
81.8
78.7

80.2
83.5
84.9
82.9
78.0

80.1
83.7
84.8
83.0
77.3

80.3
84.3
84.7
82.6
77.4

80.7
84.2
83.8
82.6
77.8

80.8
84.2
83.7
82.6
78.6

81.1
84.2
82.5
82.3
78.7

81.3
84.2
83.1
82.3
78.7

81.7
84.4
82.7
82.2
79.5

82.8
84.8
82.3
81.3
79.3

83.2
85.0
82.3
80.2
78.9

83.6
85.2
82.1
79.4
78.6

79.8
83.5
85.2
82.6
78.0

80.6
84.2
84.1
82.6
78.0

81.4
84.3
82.8
82.2
79.0

83.2
85.0
82.2
80.3
78.9

81.3
84.3
83.6
81.9
78.5

1992
1993
1994
1995
1996

77.8
80.5
81.3
84.4
81.0

78.4
80.5
81.2
84.0
81.9

79.1
80.2
82.1
83.8
81.4

79.3
80.5
82.4
83.3
82.0

79.6
80.3
82.7
83.0
82.2

79.7
80.0
82.7
83.0
82.7

80.2
80.2
82.8
82.2
82.5

79.7
80.0
83.1
82.7
82.6

79.5
80.3
83.0
83.1
82.7

79.8
80.8
83.5
82.5
82.2

80.0
81.0
83.8
82.3
82.6

79.7
81.3
84.4
82.2
82.9

78.5
80.4
81.5
84.1
81.4

79.5
80.3
82.6
83.1
82.3

79.8
80.2
83.0
82.6
82.6

79.8
81.0
83.9
82.3
82.6

79.4
80.5
82.7
83.0
82.2

1997
1998
1999
2000
2001

82.5
83.8
80.9
80.3
76.3

83.1
83.3
81.0
80.0
75.8

83.6
82.7
80.4
80.2
75.5

82.7
82.7
80.2
80.3
75.4

82.8
82.8
80.6
79.8
74.8

82.8
81.5
79.8
79.7
74.3

82.5
80.5
79.7
79.3
74.2

83.3
82.1
80.0
78.6
73.6

83.5
81.3
79.4
78.8
73.4

83.5
81.5
80.4
78.3
72.8

83.9
81.2
80.6
77.7
72.7

83.7
81.1
80.7
76.9
72.8

83.1
83.3
80.8
80.2
75.9

82.7
82.3
80.2
79.9
74.8

83.1
81.3
79.7
78.9
73.7

83.7
81.3
80.6
77.6
72.7

83.1
82.1
80.3
79.1
74.3

2002
2003
2004
2005
2006

73.2
74.8
75.3
78.6
79.9

73.1
74.8
75.9
79.2
79.5

73.7
74.9
75.7
78.7
79.3

73.7
74.1
76.1
78.7
79.6

74.1
74.1
76.7
79.0
79.2

74.9
74.5
76.0
79.1
79.3

74.5
74.5
76.7
78.9
79.2

74.7
74.3
77.1
78.9
79.3

74.8
74.9
76.9
77.9
79.0

74.5
74.8
77.7
79.0
78.6

74.8
75.6
77.7
79.5
78.4

74.3
75.4
78.2
79.4
79.3

73.3
74.8
75.6
78.8
79.6

74.2
74.2
76.3
78.9
79.4

74.7
74.5
76.9
78.5
79.2

74.5
75.3
77.8
79.3
78.8

74.2
74.7
76.7
78.9
79.2

2007
2008
2009

78.7
78.4
67.2

78.8
77.8
67.2

79.1
77.5
66.1

79.2
76.6
65.8

79.1
76.4
65.3

79.2
76.1
65.2

79.4
75.8
66.2

78.9
75.1
66.8

79.1
72.2

78.5
72.6

78.7
71.2

78.8
69.1

78.9
77.9
66.8

79.2
76.4
65.5

79.2
74.4

78.7
71.0

79.0
74.9

IP (percent
change)3
1987
1988
1989
1990
1991

1. Refer to note on cover page.
2. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components.
3. Quarterly changes are at annual rates. Annual changes are calculated from annual averages.

16

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
A
shown below. An output index for month m is denoted by Im for
aggregate A and Im for each of its components. The monthly price
measure in the formula (pm ) is interpolated from an annual series of
value added divided by the average annual IP index.

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 on the Board’s website at
www.federalreserve.gov/releases/G17. In addition, the website
includes files containing data shown in the release, more detailed
series that are published in a monthly supplement to the G.17, and
historical data. Instructions on 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−1
×
Im−1 pm−1

Im pm
Im−1 pm

The IP proportions (typically shown in the first column of the relevant
tables in the 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/IPWeightsSa.txt).

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 (NAICS) definition of manufacturing plus those
industries— newspaper, periodical, book, and directory publishing
plus logging—that have traditionally been considered to be
manufacturing. For the period since 1997, the total IP index has been
constructed from 312 individual series based on the 2002 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.htm).

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 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 in
late 2008 is summarized in the table below:
Availability of Monthly IP Data in Publication Window
(Percent of value added in 2008)
Month of estimate

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
and unit values or sales) 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 direct measures of 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.

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

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 row 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 a 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 fourth estimate of industrial
production. Specifically, quarterly data are available for the third
estimate of the last month of a quarter, the fourth estimate of the
second month of a quarter, and the fifth 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 business cycles 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 Bulletins of 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

17

Reliability. The average revision to the level of the total IP index,
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 the change
in output indicated by the first estimate for a given month is the same
as that shown by the fourth estimate.

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
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 Census Bureau’s annual Survey of
Plant Capacity (the predecessor to the QSPC) for the fourteen years
they overlapped. Adjustments have been made to keep the industry
utilization rates currently reported by the Federal Reserve 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 QSPC.

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 is 81.0 percent; for manufacturing, the average factory
operating rate has been 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
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 (NAICS) definition of manufacturing plus those
industries— newspaper, periodical, book, and directory publishing
plus logging—that have traditionally been considered to be
manufacturing. Also, special aggregates are available, such as
high-technology industries and manufacturing excluding
high-technology industries.

References. The release for the annual revision that was published on
March 27, 2009 is available on the Board’s website (www.federal
reserve.gov/releases/g17/revisions/Current/DefaultRev.htm). A
more detailed version is provided in the Federal Reserve Bulletin, vol.
95 (August 2009), pp. A125–A145. The annual revision published in
March 2008 is described in an article published in the Federal Reserve
Bulletin, vol. 94 (August 2008), 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.

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.htm).

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, March 2006, May 2007, August 2008).
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 the annual capacity aggregate 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.

2010: January 15, February 17, March 15, April 15, May 14, June 16,
July 15, August 17, September 15, October 18, November 16, and
December 15.

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

18