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Industrial production (IP) increased 0.1 percent in September after moving down 0.3 percent in August; for the third quarter as a whole, IP increased at an annual rate of 1.1 percent. In September, the indexes for manufacturing and for mining were unchanged relative to August, and the output of utilities moved up 1.1 percent. At 101.4 percent of its 2017 average, total IP in September was 1.6 percent above its year-earlier level. Capacity utilization was unchanged relative to August at 75.9 percent, a rate that is 3.6 percentage points below its long-run (1972–2024) average.

Industrial Production and Capacity Utilization: Summary

Market Groups

The major market groups posted mixed results in September. Consumer goods production decreased 0.6 percent in September and moved down at an annual rate of 0.6 percent in the third quarter, a second consecutive quarterly decline. Within consumer goods, the production of durables fell 1.7 percent in September, led by a 2.9 percent decline in the production of automotive products. The index for nondurable consumer goods moved down 0.3 percent, with declines in both the energy and the non-energy groups. In contrast, the production of business equipment rose 0.7 percent in September and moved up at an annual rate of 5.9 percent in the third quarter, a third consecutive quarterly increase. All major categories of business equipment production moved up in September. Defense and space equipment production rose 0.5 percent in September and climbed at an annual rate of 10.0 percent in the third quarter. The output of construction supplies moved up 0.3 percent in September but moved down at an annual rate of 1.3 percent for the third quarter as a whole. The index for business supplies ticked down 0.1 percent in September and declined at an annual rate of 2.1 percent across the third quarter. In September, the output of materials rose 0.4 percent, with increases in the output of equipment parts and in energy materials more than offsetting declines in the production of consumer parts, other durable materials, and nondurable materials.

Industry Groups

In September, manufacturing output maintained its August level and was 1.5 percent above its year-earlier level. During the third quarter, the index for manufacturing grew 1.3 percent at an annual rate. The output of durable goods ticked up 0.1 percent in September, with mixed results across categories, and moved up at an annual rate of 2.9 percent in the third quarter. The output of nondurable goods ticked down 0.1 percent in September but moved up at an annual rate of 0.2 percent for the third quarter as a whole. In September, among nondurable manufacturing industries, only the index for plastics and rubber products posted an increase. Other manufacturing, which includes logging and publishing, moved down 1.0 percent in September and declined at an annual rate of 10.9 percent in the third quarter.

The level of mining output was unchanged in September relative to the previous month and expanded 2.9 percent at an annual rate for the third quarter as a whole. In September, the index for utilities moved up 1.1 percent, with a 1.3 percent increase in electric utilities output more than offsetting a 0.4 percent decline in the output of natural gas utilities. In the third quarter, the index for utilities moved down 2.3 percent at an annual rate.

Capacity utilization for manufacturing inched down in September to 75.5 percent, a rate that is 2.7 percentage points below its long-run (1972–2024) average. The operating rate for mining was unchanged at 85.4 percent, and the operating rate for utilities increased 0.5 percentage point to 69.9 percent. The rate for mining was 0.2 percentage point above its long-run average, while the rate for utilities remained substantially below its long-run average.

Source Data Availability

Source data availability for the initial release of September industrial production and capacity utilization (IPCU) was unusual in two regards. First, some source data that normally would be available at this point in the calendar were not yet available. While production worker hours data for September were incorporated into this release as normal, IP indexes also incorporate a range of data from other government agencies and the publication of some of those data was delayed as a result of the federal government shutdown that occurred in October and November 2025. Second, notwithstanding the first point, the delayed publication of this statistical release means that, overall, there were more source data available than normally would be the case for the first release of IPCU for a month. As a result, about 85 percent of the source data (in value-added terms) were available, whereas 78 percent of the source data are available for the first estimate of output for a typical month. In addition, final estimates of capacity utilization rates from the Quarterly Survey of Plant Capacity Utilization (QSPC) for the third quarter were incorporated into this release. Normally, preliminary QSPC data are incorporated into the estimates of third quarter industrial production published in October, and final data are incorporated into the estimates published in November. For details on how QSPC data are used in IPCU, see the release text of the 2018 G.17 annual revision at https://www.federalreserve.gov/releases/g17/Revisions/20180323/DefaultRev.htm. Because of these differences in source data availability, care should be used when evaluating the reliability estimates published in table 15 of the current release. For more information on reliability estimates, see the Technical Q&A entry for April 18, 2017, at https://www.federalreserve.gov/releases/g17/g17_technical_qa.htm#reliability.

Revision of Industrial Production and Capacity Utilization

The Federal Reserve Board issued its annual revision to the indexes of industrial production (IP) and the related measures of capacity utilization on November 24, 2025. Data referred to in the release dated September 16, 2025, were superseded by the data issued at the time of the annual revision. New annual benchmark data from the 2022 Economic Census were incorporated as well as other annual data, including information on the mining of metallic and nonmetallic minerals (except fuels). Industry-group indexes were converted to the 2022 North American Industry Classification System (NAICS). The weights for market-group splits of the industry-level indexes were updated with information from the 2017 benchmark input-output accounts from the U.S. Bureau of Economic Analysis. The updated IP indexes included revisions to the monthly indicator—either product data or input data—and to seasonal factors for each industry. In addition, the estimation methods for some series were changed. Any modifications to the methods for estimating the output of an industry affected the index from 1972 to the present.

Capacity and capacity utilization were revised to incorporate data for manufacturing through the fourth quarter of 2024 from the U.S. Census Bureau's Quarterly Survey of Plant Capacity Utilization, along with new data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations.

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 (except exclusive Internet publishing). 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 of its industrial output data from the SIC system to NAICS.

G.17 Release Tables:

• Summary: Industrial Production and Capacity Utilization
• Chart 1: Industrial Production, Capacity, and Capacity Utilization
• Chart 2: Industrial Production and Capacity Utilization
• Chart 3: Industrial Production of Selected Industries
• Table 1: Industrial Production: Market and Industry Groups (percent change)
• Table 2: Industrial Production: Special Aggregates and Selected Detail (percent change)
• Table 3: Motor Vehicle Assemblies
• Table 4: Industrial Production Indexes: Market and Industry Group Summary
• Table 5: Industrial Production Indexes: Special Aggregates
• Table 6: Diffusion Indexes of Industrial Production
• Table 7: Capacity Utilization: Manufacturing, Mining, and Utilities
• Table 8: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change)
• Table 9: Industrial Production: Gross Value of Products and Nonindustrial Supplies
• Table 10: Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
• Table 11: Historical Statistics for IP, Capacity, and Utilization: Total Industry
• Table 12: Historical Statistics for IP, Capacity, and Utilization: Manufacturing
• Table 13: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries
• Table 14: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries
• Table 15: Industrial Production: Reliability Estimates

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