FEDERAL RESERVE STATISTICAL RELEASE G.17 (419) For release at 9:15 a.m. (EDT) April 16, 2014 Industrial Production and Capacity Utilization Industrial production increased 0.7 percent in March after having advanced 1.2 percent in February. The rise in February was higher than previously reported primarily because of stronger gains for durable goods manufacturing and for mining. For the first quarter as a whole, industrial production moved up at an annual rate of 4.4 percent, just slightly slower than in the fourth quarter of 2013. In March, the output of manufacturing rose 0.5 percent, the output of utilities increased 1.0 percent, and the output of mines gained 1.5 percent. At 103.2 percent of its 2007 average, total industrial production in March was 3.8 percent above its level of a year earlier. Capacity utilization for total industry increased in March to 79.2 percent, a rate that is 0.9 percentage point below its long-run (1972-2013) average but 1.2 percentage points higher than a year prior. Market Groups ------------- The production of consumer goods rose 0.7 percent in March, and it increased at an annual rate of 4.5 percent in the first quarter. The indexes for consumer durables and consumer non-energy nondurables both moved up around 1/4 percent in March, while the index for consumer energy products rose 2.5 percent. Within consumer durables, the output of appliances, furniture, and carpeting posted a gain of 2.0 percent, which partially reversed decreases in January and February. The output of miscellaneous consumer durables moved up 0.5 percent in March, but the indexes for automotive products and home electronics both fell modestly. Among consumer non-energy nondurables, the output of clothing jumped 3.3 percent and the output of chemical products rose 1.0 percent. The indexes for foods and tobacco and for paper products were little changed. The output of business equipment gained 0.5 percent in March and moved up at an annual rate of 4.2 percent in the first quarter. The production of transit equipment rose 1.0 percent in March, and the production of information processing equipment advanced 1.2 percent, its largest increase since September 2013. The index for industrial and other equipment was unchanged in March, but it rose at an annual rate of 7.9 percent in the first quarter. The production of defense and space equipment rose 0.7 percent in March after having moved up 0.9 percent in February. The index for this market group increased at an annual rate of 1.4 percent in the first quarter. After having registered gains of 1.0 percent or more in February, the indexes for the two major categories of nonindustrial supplies posted slower increases in March. The output of construction supplies edged up 0.2 percent and moved up at an annual rate of 1.2 percent in the first quarter. The index for business supplies rose 0.6 percent in March, and it jumped 5.3 percent at an annual rate for the quarter. The production of materials to be processed further in the industrial sector rose 0.9 percent in March and increased at an annual rate of 4.7 percent in the first quarter. Every major component of materials recorded gains in March. The output of durable materials moved up 0.3 percent. Within durable materials, the production of equipment parts increased 0.5 percent and the indexes for consumer parts and for other durable materials both moved up slightly. The production of nondurable materials advanced 0.6 percent. The largest increase among nondurable materials was in the index for textile materials, which jumped 4.5 percent. The output of energy materials gained 1.5 percent and has advanced 6.8 percent over the past 12 months. Industry Groups --------------- In March, manufacturing production recorded an increase of 0.5 percent; factory output rose 1.4 percent in February, 0.5 percentage point faster than previously reported. For the first quarter, the index for manufacturing increased at an annual rate of 1.7 percent, with similarly sized gains for durables and nondurables. The factory operating rate moved up 0.2 percentage point in March to 76.7 percent, a rate 2.0 percentage points below its long-run average. The output of durable goods rose 0.4 percent; the two categories that registered the largest gains--about 2-1/2 percent--were wood products and nonmetallic mineral products. Increases of 1.0 percent or more were posted by computer and electronic products, by aerospace and miscellaneous transportation equipment, by furniture and related products, and by miscellaneous manufacturing. The largest declines were for primary metals and for motor vehicles and parts. The utilization rate for durable manufacturers edged up 0.1 percentage point to 76.3 percent, a rate 0.7 percentage point below its long-run average. Nondurable manufacturing rose 0.7 percent in March; the index increased at an annual rate of 2.0 percent in the first quarter. With the exception of the index for food, beverage, and tobacco products, which declined 0.3 percent, all major nondurable manufacturing groups moved up in March. The indexes for apparel and leather goods, for petroleum and coal products, and for textile and product mills advanced 2.5 percent or more. The indexes for paper and printing each rose more than 1 percent. Although the operating rate for producers of nondurable goods moved up 0.4 percentage point to 78.5 percent, it was still 2.2 percentage points below its long-run average. The output of non-NAICS manufacturing industries (publishing and logging) increased 0.5 percent in March after a gain of 2.1 percent in February. The utilization rate for this industry group rose 0.3 percentage point to 61.6 percent, a rate about 20 percentage points below its long-run average. In March, mining output climbed 1.5 percent, its fifth consecutive monthly increase; over the past year, the index has risen 7.9 percent. The output of utilities rose 1.0 percent; unseasonably cold temperatures since the start of the year led to a jump in the index of 17.9 percent at an annual rate for the first quarter. The utilization rate for mining, 89.1 percent, was nearly 2 percentage points above its long-run average, while the operating rate for utilities, 85.0 percent, was about 1 percentage point below its long-run average. Capacity utilization rates in March for industries grouped by stage of process were as follows: At the crude stage, utilization increased 0.6 percentage point to 87.0 percent, a rate 0.7 percentage point above its long-run average; at the primary and semifinished stages, utilization moved up 0.5 percentage point to 78.1 percent, a rate 2.7 percentage points below its long-run average; at the finished stage, utilization rose 0.1 percentage point to 76.7 percent, a rate 0.4 percentage point below its long-run average. Notice Revision of Industrial Production and Capacity Utilization The Federal Reserve Board issued its annual revision to the index of industrial production (IP) and the related measures of capacity utilization on March 28, 2014. The revised indexes for IP incorporated data from the U.S. Geological Survey regarding metallic and nonmetallic minerals (except fuels) for 2012. The update also included revisions to the monthly indicators (either product data or input data) and to seasonal factors for each industry. In addition, the estimation methods for some series changed. 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 through the fourth quarter of 2013 from the Census Bureau's Quarterly Survey of Plant Capacity, which covers manufacturing, along with new data on capacity from the U.S. Geological Survey, the Department of Energy, and other organizations. The release for the 2014 annual revision is available on the Federal Reserve Board's website at www.federalreserve.gov/releases/G17. Industrial Production and Capacity Utilization: Summary Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | 2007=100 | Percent change | ----------------------------------------------------------------- | ----------------------------------------------------------------------------------- | 2013 2014 | 2013 2014 | Mar. '13 to Industrial production | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '14 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | | Total index | 100.8 101.4 101.5 101.3 102.5 103.2 | .1 .5 .1 -.2 1.2 .7 | 3.8 Previous estimates | 100.9 101.4 101.5 101.3 102.0 | .2 .6 .0 -.1 .6 | | | | Major market groups | | | Final Products | 98.1 98.3 98.7 98.2 99.6 100.3 | .3 .2 .4 -.5 1.4 .7 | 3.2 Consumer goods | 95.4 95.8 96.6 95.9 97.2 97.9 | .5 .4 .8 -.7 1.3 .7 | 3.2 Business equipment | 103.4 103.2 102.6 102.6 104.6 105.2 | .0 -.2 -.6 .0 2.0 .5 | 3.2 Nonindustrial supplies | 89.7 90.0 90.1 90.0 91.1 91.5 | .4 .3 .1 -.1 1.2 .5 | 3.6 Construction | 82.7 83.0 82.5 82.4 83.2 83.4 | .8 .4 -.6 -.2 1.0 .2 | 2.9 Materials | 107.3 108.2 108.1 108.1 109.1 110.1 | -.2 .9 -.1 .0 .9 .9 | 4.3 | | | Major industry groups | | | Manufacturing (see note below) | 97.3 97.6 97.7 96.8 98.2 98.7 | .4 .3 .1 -.9 1.4 .5 | 2.8 Previous estimates | 97.3 97.6 97.7 96.8 97.7 | .4 .3 .1 -.9 .9 | Mining | 120.2 121.2 121.4 122.4 123.5 125.3 | -2.0 .8 .2 .8 .9 1.5 | 7.9 Utilities | 101.8 103.7 103.8 107.3 107.0 108.0 | 1.5 1.9 .1 3.4 -.3 1.0 | 4.4 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | Capacity | Percent of capacity | growth | ------------------------------------------------------------------------------------------------------------------------------------------- | --------------- | Average 1988- 1990- 1994- | | | 1972- 89 91 95 2009 2013 | 2013 2014 | Mar. '13 to Capacity utilization | 2013 high low high low Mar. | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '14 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | | Total industry | 80.1 85.3 78.7 85.0 66.9 78.0 | 78.2 78.5 78.4 78.1 78.8 79.2 | 2.2 Previous estimates | | 78.2 78.5 78.4 78.1 78.4 | | | | Manufacturing (see note below) | 78.7 85.6 77.3 84.6 63.9 76.1 | 76.3 76.4 76.4 75.5 76.5 76.7 | 2.0 Previous estimates | | 76.4 76.4 76.3 75.5 76.0 | Mining | 87.3 86.3 83.8 88.5 78.8 86.4 | 87.4 87.7 87.5 87.8 88.2 89.1 | 4.7 Utilities | 86.1 92.9 84.3 93.3 78.5 81.9 | 80.3 81.8 81.8 84.5 84.2 85.0 | .6 | | | Stage-of-process groups | | | Crude | 86.3 87.7 84.4 89.6 76.8 85.2 | 85.9 86.1 86.0 85.8 86.4 87.0 | 3.7 Primary and semifinished | 80.8 86.5 77.9 87.7 64.2 76.3 | 76.9 77.4 77.2 77.3 77.6 78.1 | 1.1 Finished | 77.1 83.4 77.4 80.6 66.8 76.7 | 76.1 76.1 76.2 75.3 76.6 76.7 | 3.0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 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. Table 1 Industrial Production: Market and Industry Group Summary Percent change, seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Fourth quarter to | | | | | | fourth quarter | Annual rate | Monthly rate | | | |------------------------------|------------------------------|------------------------------------------------------------| Mar. '13 | | 2013 | | 2013 2014 | 2013 2014 | to Item | NAICS |Proportion<1>| 2011 2012 2013 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '14 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | | Total IP | | 100.00 | 3.2 3.2 3.3 | 2.5 4.8 4.4 | .1 .5 .1 -.2 1.2 .7 | 3.8 | | | | | | MARKET GROUP | | | | | | Final products and nonindustrial supplies | | 52.70 | 2.3 2.7 3.2 | .9 5.8 4.2 | .3 .3 .3 -.4 1.4 .6 | 3.3 Consumer goods | | 26.78 | 2.0 1.6 3.2 | -.9 7.6 4.5 | .5 .4 .8 -.7 1.3 .7 | 3.2 Durable | | 5.88 | 8.0 6.2 9.0 | 4.4 11.5 -2.2 | .5 1.7 .1 -3.1 2.9 .2 | 4.8 Automotive products | | 3.01 | 15.1 6.6 11.2 | 2.9 16.3 -3.6 | .0 2.5 .4 -5.7 6.2 -.4 | 6.0 Home electronics | | .13 | 5.2 -2.5 4.6 | -2.3 6.9 -.2 | 1.7 1.2 -.3 -1.7 2.4 -.3 | 1.8 Appliances, furniture, carpeting | | .78 | 1.3 3.7 7.4 | 6.8 12.0 -5.1 | 2.2 .7 1.2 -1.2 -2.7 2.0 | 4.8 Miscellaneous goods | | 1.97 | .8 7.5 6.7 | 6.2 4.5 1.1 | .7 1.0 -.9 .2 .2 .5 | 3.1 Nondurable | | 20.90 | .5 .4 1.6 | -2.4 6.5 6.5 | .5 .1 1.1 .0 .9 .9 | 2.7 Non-energy | | 15.62 | 1.1 .2 .3 | -1.0 1.8 3.8 | .0 -.1 1.0 -.8 1.6 .3 | 1.6 Foods and tobacco | | 9.00 | .9 3.1 .7 | -1.5 3.7 2.8 | .3 -.2 1.3 -1.2 1.7 -.2 | .8 Clothing | | .19 | -7.8 -1.5 6.2 | 11.3 6.8 .4 | .3 -1.4 1.8 -.9 -1.3 3.3 | 5.8 Chemical products | | 4.65 | 2.6 -3.8 -.2 | -2.8 -.8 8.8 | -.3 .2 .8 .2 1.4 1.0 | 3.4 Paper products | | 1.29 | -.3 -6.3 -3.0 | 5.0 -5.8 -3.9 | -1.2 -1.3 -.3 -1.3 1.3 .2 | -1.2 Energy | | 5.27 | -1.2 1.0 5.7 | -6.2 21.5 14.5 | 2.2 .6 1.1 2.3 -1.0 2.5 | 6.0 | | | | | | Business equipment | | 9.47 | 4.6 6.6 3.4 | 2.0 3.2 4.2 | .0 -.2 -.6 .0 2.0 .5 | 3.2 Transit | | 2.25 | 7.1 14.6 3.1 | -1.4 4.4 -2.5 | -.7 .2 -.2 -2.9 3.2 1.0 | 2.9 Information processing | | 2.02 | .9 6.3 3.9 | 6.1 4.3 2.5 | .2 -.5 .0 .5 -.2 1.2 | 4.6 Industrial and other | | 5.20 | 5.3 3.7 3.3 | 1.9 2.3 7.9 | .3 -.3 -1.0 1.1 2.3 .0 | 2.8 Defense and space equipment | | 2.26 | -.5 4.6 1.8 | 3.8 3.0 1.4 | -.3 -.2 .1 -.5 .9 .7 | 2.9 | | | | | | Construction supplies | | 4.14 | 2.5 3.8 5.0 | 4.2 6.3 1.2 | .8 .4 -.6 -.2 1.0 .2 | 2.9 Business supplies | | 9.27 | .5 2.1 2.9 | 2.3 4.5 5.3 | .2 .3 .4 -.1 1.2 .6 | 4.0 | | | | | | Materials | | 47.30 | 4.1 3.8 3.5 | 4.3 3.7 4.7 | -.2 .9 -.1 .0 .9 .9 | 4.3 Non-energy | | 28.50 | 3.7 4.5 2.6 | 2.7 4.0 .7 | .4 .5 .0 -1.0 1.2 .4 | 2.7 Durable | | 17.34 | 7.1 6.1 4.3 | 4.4 7.1 1.9 | .7 1.0 -.6 -.7 1.7 .3 | 4.4 Consumer parts | | 2.49 | 5.2 8.6 6.5 | 4.1 13.1 .6 | .3 2.1 -.2 -2.2 2.8 .1 | 5.5 Equipment parts | | 6.40 | 11.8 8.2 4.2 | 5.5 4.3 5.6 | .5 .6 -1.0 .3 2.0 .5 | 6.3 Other | | 8.45 | 4.1 3.8 3.6 | 3.7 7.6 -.5 | .9 1.0 -.4 -1.0 1.1 .2 | 2.7 Nondurable | | 11.16 | -1.1 2.1 .1 | .0 -.9 -1.1 | .1 -.2 1.0 -1.4 .5 .6 | .2 Textile | | .41 | -2.4 -1.6 1.7 | 1.7 5.3 -12.6 | .9 1.0 -1.2 -1.7 -3.9 4.5 | -1.9 Paper | | 1.88 | -1.3 -2.3 -.5 | -1.8 -3.0 -5.0 | 1.0 -1.3 .8 -.7 -1.6 1.2 | -1.8 Chemical | | 5.68 | -1.6 4.5 .1 | .4 -1.6 -.8 | -.3 -.1 1.4 -1.9 .9 .6 | .8 Energy | | 18.80 | 4.7 2.6 4.8 | 7.0 3.3 11.1 | -1.1 1.4 -.3 1.5 .6 1.5 | 6.8 | | | | | | | | | | | | INDUSTRY GROUP | | | | | | Manufacturing | | 74.32 | 3.1 3.5 2.9 | 1.9 4.2 1.7 | .4 .3 .1 -.9 1.4 .5 | 2.8 Manufacturing (NAICS) | 31-33 | 71.79 | 3.3 3.9 3.2 | 1.7 4.7 1.8 | .5 .4 .2 -.9 1.4 .5 | 3.0 | | | | | | Durable manufacturing | | 37.96 | 6.0 6.2 4.9 | 3.6 6.9 1.6 | .6 .7 -.6 -.8 1.8 .4 | 4.1 Wood products | 321 | .91 | 1.0 7.8 8.8 | 10.2 12.8 -11.2 | 1.8 .9 -2.3 -1.8 -1.2 2.5 | 3.1 Nonmetallic mineral products | 327 | 1.51 | -.1 2.2 3.9 | 4.8 2.4 9.4 | .1 1.1 -1.6 2.1 .1 2.4 | 5.2 Primary metals | 331 | 3.12 | 8.5 -1.4 4.0 | 5.5 9.3 -8.1 | 2.7 -.6 -.4 -2.3 1.8 -1.5 | 1.6 Fabricated metal products | 332 | 5.61 | 6.4 5.4 4.7 | 3.6 8.3 1.4 | .8 1.6 -.6 -.6 1.3 -.1 | 3.2 Machinery | 333 | 5.60 | 8.1 1.8 4.9 | 4.7 5.3 8.5 | .7 .2 -2.6 2.4 2.1 -.3 | 4.0 Computer and electronic products | 334 | 6.08 | 6.7 12.9 4.3 | 4.8 3.2 5.8 | .5 -.1 -.4 .8 .9 1.0 | 6.0 Electrical equip., appliances, | | | | | | and components | 335 | 1.81 | 2.2 4.1 2.5 | 2.9 4.6 1.8 | .9 .5 .3 -.6 .6 .7 | 3.1 Motor vehicles and parts | 3361-3 | 4.52 | 11.3 11.5 8.9 | 2.7 14.5 -3.4 | -.8 2.8 .1 -5.9 6.9 -.8 | 5.5 Aerospace and miscellaneous | | | | | | transportation equipment | 3364-9 | 4.61 | 6.4 5.0 2.3 | -.7 3.2 2.2 | .2 -.2 .0 -.6 1.2 1.5 | 3.1 Furniture and related products | 337 | 1.00 | -.1 4.3 4.6 | -3.4 8.7 .8 | .3 2.0 1.2 -1.3 -.8 1.9 | 3.4 Miscellaneous | 339 | 3.20 | -.5 7.4 6.7 | 5.6 8.1 -.4 | .6 .8 .5 -2.1 1.4 1.6 | 4.9 | | | | | | Nondurable manufacturing | | 33.83 | .4 1.3 1.2 | -.4 2.3 2.0 | .3 .0 1.0 -1.0 .9 .7 | 1.6 Food, beverage, and tobacco products | 311,2 | 10.94 | .7 3.3 .9 | -1.0 3.8 3.1 | .4 .1 1.3 -1.2 1.8 -.3 | 1.1 Textile and product mills | 313,4 | .66 | -.6 -1.0 .8 | 2.2 4.3 -8.8 | .2 1.1 -.5 -1.8 -1.9 2.5 | -1.1 Apparel and leather | 315,6 | .25 | -5.1 -1.9 5.9 | 11.5 4.0 -1.4 | -.1 -1.5 1.8 -1.2 -1.4 3.3 | 4.9 Paper | 322 | 2.32 | -.4 -2.1 -1.4 | -2.3 -5.4 -5.7 | .6 -1.3 .0 -.1 -1.9 1.1 | -2.8 Printing and support | 323 | 1.30 | -3.7 -2.7 3.1 | -2.6 10.2 2.6 | 2.1 .2 2.8 -1.9 .3 1.5 | 3.3 Petroleum and coal products | 324 | 3.81 | 3.0 -1.5 1.7 | 2.6 2.1 2.6 | -.3 .1 .1 .0 -.7 3.3 | 2.5 Chemicals | 325 | 11.59 | .1 1.0 .7 | -1.4 .9 2.4 | .2 .0 1.3 -1.3 1.4 .3 | 2.0 Plastics and rubber products | 326 | 2.95 | .8 4.9 4.4 | 2.6 4.5 4.2 | .4 .3 .3 -.3 1.1 .9 | 4.3 | | | | | | Other manufacturing (non-NAICS) | 1133,5111 | 2.53 | -.2 -6.2 -3.5 | 7.7 -9.3 -1.9 | -2.4 -1.7 -.3 -1.2 2.1 .5 | -.2 | | | | | | Mining | 21 | 15.88 | 7.4 4.2 4.8 | 11.8 -.7 9.5 | -2.0 .8 .2 .8 .9 1.5 | 7.9 Utilities | 2211,2 | 9.81 | -2.2 .1 4.2 | -6.7 19.5 17.9 | 1.5 1.9 .1 3.4 -.3 1.0 | 4.4 Electric | 2211 | 8.52 | -1.7 -.4 3.4 | -6.4 17.0 17.5 | 1.3 1.1 .0 3.3 .2 .7 | 4.2 Natural gas | 2212 | 1.28 | -5.8 4.0 10.5 | -8.4 38.1 21.1 | 2.8 7.4 .4 3.7 -3.5 2.7 | 5.4 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <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. Note. Under 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. Table 2 Industrial Production: Special Aggregates and Selected Detail Percent change, seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Fourth quarter to | | | | | | fourth quarter | Annual rate | Monthly rate | | | |------------------------------|------------------------------|------------------------------------------------------------| Mar. '13 | | 2013 | | 2013 2014 | 2013 2014 | to Item | NAICS | Proportion| 2011 2012 2013 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '14 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | | Total industry | | 100.00 | 3.2 3.2 3.3 | 2.5 4.8 4.4 | .1 .5 .1 -.2 1.2 .7 | 3.8 | | | | | | Energy | | 27.73 | 3.3 1.8 4.7 | 3.7 7.2 11.6 | -.3 1.2 .1 1.7 .2 1.6 | 6.3 Consumer products | | 5.27 | -1.2 1.0 5.7 | -6.2 21.5 14.5 | 2.2 .6 1.1 2.3 -1.0 2.5 | 6.0 Commercial products | | 2.92 | -.2 1.4 4.0 | 1.9 10.0 11.7 | .2 1.5 .1 2.4 -.3 .2 | 5.3 Oil and gas well drilling | 213111 | .73 | 21.3 -7.5 -1.2 | 5.9 -1.3 3.4 | -1.3 .4 .6 -.2 -.1 1.9 | 2.7 Converted fuel | | 3.88 | -1.3 .3 1.0 | -4.2 14.8 14.5 | .0 1.9 .6 3.1 -1.4 1.0 | -.2 Primary energy | | 14.92 | 6.6 3.3 5.9 | 10.2 .5 10.2 | -1.4 1.3 -.5 1.1 1.1 1.6 | 8.8 | | | | | | Non-energy | | 72.27 | 3.1 3.7 2.8 | 2.0 3.9 1.8 | .3 .3 .2 -.9 1.6 .4 | 2.8 Selected high-technology industries | | 3.27 | 8.8 16.9 5.7 | 7.2 3.1 6.8 | .6 .6 -.8 .4 2.0 .7 | 8.3 Computers and peripheral equipment | 3341 | .35 | -20.0 2.6 13.8 | 31.8 1.2 -14.4 | -1.3 .6 -1.4 -4.5 1.4 1.5 | 7.3 Communications equipment | 3342 | .49 | 11.2 -1.5 2.3 | 2.8 8.6 4.6 | .8 .7 .5 .3 .3 .2 | 4.5 Semiconductors and related | | | | | | electronic components | 334412-9 | 2.42 | 13.7 23.9 5.3 | 5.0 2.3 10.8 | .9 .5 -1.0 1.2 2.4 .7 | 9.2 | | | | | | Excluding selected high-technology | | | | | | industries | | 68.99 | 2.8 3.1 2.7 | 1.8 4.0 1.5 | .2 .3 .2 -1.0 1.6 .4 | 2.5 | | | | | | Motor vehicles and parts | 3361-3 | 4.52 | 11.3 11.5 8.9 | 2.7 14.5 -3.4 | -.8 2.8 .1 -5.9 6.9 -.8 | 5.5 Motor vehicles | 3361 | 2.22 | 18.0 12.7 11.7 | 2.3 19.9 -9.4 | -1.4 3.5 .7 -9.4 9.9 -1.4 | 5.6 Motor vehicle parts | 3363 | 2.00 | 4.8 9.7 5.9 | 2.4 6.7 1.4 | -.6 2.1 -.3 -2.5 3.7 -.1 | 3.9 | | | | | | Excluding motor vehicles and parts | | 64.47 | 2.3 2.5 2.3 | 1.7 3.3 1.9 | .3 .1 .2 -.7 1.2 .5 | 2.3 Consumer goods | | 18.91 | 1.4 1.1 1.3 | -.1 2.6 3.2 | .2 .0 .8 -.7 1.3 .4 | 1.9 Business equipment | | 8.20 | 5.4 6.0 3.7 | 1.8 2.7 5.6 | .2 -.4 -.7 .7 1.6 .7 | 3.3 Construction supplies | | 4.13 | 2.4 3.9 5.0 | 4.2 6.3 1.2 | .8 .4 -.6 -.2 1.0 .2 | 2.9 Business supplies | | 6.05 | .2 1.5 2.3 | 2.2 1.9 1.9 | .1 -.3 .6 -1.3 2.0 .7 | 3.0 Materials | | 24.90 | 2.8 2.4 2.1 | 2.3 3.8 -.1 | .5 .4 .1 -1.0 .9 .4 | 2.0 | | | | | | Measures excluding selected high-technology | | | | | | industries | | | | | | Total industry | | 96.73 | 2.9 2.7 3.2 | 2.3 4.9 4.4 | .1 .5 .2 -.2 1.1 .7 | 3.6 Manufacturing<1> | | 71.04 | 2.8 2.8 2.8 | 1.6 4.2 1.4 | .3 .3 .2 -1.0 1.4 .5 | 2.6 Durable | | 34.84 | 5.7 5.1 4.9 | 3.3 7.3 1.1 | .6 .8 -.6 -.9 1.8 .4 | 3.8 | | | | | | Measures excluding motor vehicles and parts | | | | | | Total industry | | 95.48 | 2.8 2.8 3.1 | 2.5 4.4 4.8 | .1 .4 .1 .1 .9 .8 | 3.7 Manufacturing<1> | | 69.80 | 2.7 3.0 2.6 | 1.9 3.6 2.0 | .4 .1 .1 -.6 1.1 .6 | 2.7 Durable | | 33.59 | 5.4 5.5 4.5 | 3.9 6.0 2.3 | .8 .5 -.7 -.1 1.2 .6 | 4.0 | | | | | | Measures excluding selected high-technology | | | | | | industries and motor vehicles and parts | | | | | | Total industry | | 92.21 | 2.6 2.3 3.0 | 2.3 4.4 4.8 | .1 .4 .2 .1 .9 .8 | 3.5 Manufacturing<1> | | 66.52 | 2.3 2.3 2.4 | 1.6 3.6 1.8 | .4 .1 .2 -.6 1.0 .6 | 2.4 | | | | | | Stage-of-process components | | | | | | of non-energy materials, | | | | | | measures of the input to | | | | | | Finished processors | | 11.18 | 7.3 6.0 3.8 | 3.8 5.0 2.0 | .5 .6 -.6 -.5 1.4 .7 | 4.4 Primary and semifinished processors | | 17.32 | 1.4 3.5 1.8 | 1.9 3.3 -.1 | .4 .5 .4 -1.3 1.1 .2 | 1.6 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> See note on cover page. Table 3 Motor Vehicle Assemblies Millions of units, seasonally adjusted annual rate -------------------------------------------------------------------------------------------------------------------------------------------- | 2013 | 2013 2014 | 2013 2014 Item |Average| Q2 Q3 Q4 Q1 | Oct. Nov. Dec. Jan. Feb. Mar. -------------------------------------------------------------------------------------------------------------------------------------------- Total | 11.07 | 11.08 10.97 11.41 11.11 | 11.15 11.50 11.58 10.54 11.50 11.27 Autos | 4.37 | 4.42 4.22 4.41 4.21 | 4.29 4.45 4.50 4.16 4.30 4.17 Trucks | 6.70 | 6.67 6.75 7.00 6.90 | 6.87 7.05 7.08 6.38 7.20 7.11 Light | 6.45 | 6.41 6.48 6.75 6.63 | 6.61 6.81 6.83 6.12 6.93 6.83 Medium and heavy | .25 | .26 .27 .25 .27 | .25 .25 .25 .26 .27 .27 | | | Memo: | | | Autos and light trucks | 10.82 | 10.82 10.70 11.16 10.84 | 10.90 11.25 11.33 10.29 11.23 11.00 -------------------------------------------------------------------------------------------------------------------------------------------- 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 Table 4 Industrial Production Indexes: Market and Industry Group Summary 2007 = 100, seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | 2013 | 2013 2014 Item | NAICS | Proportion| July Aug. Sept. Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total IP | | 100.00 | 99.4 100.0 100.7 100.8 101.4 101.5 101.3 102.5 103.2 | | | MARKET GROUP | | | Final products and nonindustrial supplies | | 52.70 | 94.0 94.6 95.4 95.8 96.0 96.3 95.9 97.3 97.9 Consumer goods | | 26.78 | 93.7 94.1 94.9 95.4 95.8 96.6 95.9 97.2 97.9 Durable | | 5.88 | 95.7 97.5 98.1 98.6 100.3 100.4 97.3 100.1 100.3 Automotive products | | 3.01 | 106.6 110.3 111.8 111.8 114.5 115.0 108.4 115.1 114.7 Home electronics | | .13 | 60.5 61.1 60.1 61.1 61.9 61.7 60.6 62.1 61.9 Appliances, furniture, carpeting | | .78 | 71.0 71.8 71.2 72.7 73.2 74.1 73.2 71.3 72.7 Miscellaneous goods | | 1.97 | 94.8 94.6 94.7 95.4 96.4 95.5 95.7 95.9 96.4 Nondurable | | 20.90 | 93.4 93.5 94.4 94.9 94.9 95.9 95.9 96.7 97.6 Non-energy | | 15.62 | 91.1 91.4 91.5 91.5 91.4 92.3 91.5 93.0 93.3 Foods and tobacco | | 9.00 | 99.0 99.6 99.7 100.0 99.9 101.2 100.0 101.7 101.5 Clothing | | .19 | 59.5 60.5 61.5 61.7 60.9 62.0 61.4 60.7 62.7 Chemical products | | 4.65 | 83.7 83.0 82.9 82.7 82.9 83.5 83.7 84.9 85.8 Paper products | | 1.29 | 75.2 76.3 76.6 75.6 74.6 74.5 73.5 74.4 74.6 Energy | | 5.27 | 101.5 100.7 104.1 106.4 107.0 108.2 110.7 109.6 112.3 | | | Business equipment | | 9.47 | 101.0 102.3 103.4 103.4 103.2 102.6 102.6 104.6 105.2 Transit | | 2.25 | 104.2 106.2 108.1 107.3 107.5 107.2 104.1 107.4 108.5 Information processing | | 2.02 | 99.1 100.4 101.6 101.8 101.3 101.3 101.8 101.6 102.9 Industrial and other | | 5.20 | 99.7 100.6 101.4 101.7 101.4 100.4 101.5 103.9 103.9 Defense and space equipment | | 2.26 | 113.1 115.0 116.1 115.7 115.5 115.6 115.1 116.1 116.9 | | | Construction supplies | | 4.14 | 81.1 81.3 82.0 82.7 83.0 82.5 82.4 83.2 83.4 Business supplies | | 9.27 | 92.0 92.4 93.0 93.2 93.5 93.8 93.7 94.9 95.4 | | | Materials | | 47.30 | 106.3 106.9 107.4 107.3 108.2 108.1 108.1 109.1 110.1 Non-energy | | 28.50 | 100.5 101.3 101.2 101.6 102.1 102.2 101.2 102.4 102.8 Durable | | 17.34 | 108.1 109.3 109.8 110.5 111.6 110.9 110.1 112.0 112.3 Consumer parts | | 2.49 | 91.5 94.5 95.1 95.4 97.3 97.1 94.9 97.6 97.7 Equipment parts | | 6.40 | 140.2 142.2 142.4 143.0 143.8 142.4 142.9 145.7 146.5 Other | | 8.45 | 92.9 93.2 93.7 94.5 95.4 95.1 94.1 95.2 95.3 Nondurable | | 11.16 | 90.1 90.2 89.4 89.5 89.3 90.3 89.0 89.4 89.9 Textile | | .41 | 76.6 77.2 77.1 77.7 78.5 77.6 76.3 73.3 76.6 Paper | | 1.88 | 83.2 83.3 81.9 82.7 81.6 82.2 81.7 80.4 81.4 Chemical | | 5.68 | 90.7 91.2 90.3 90.0 89.9 91.1 89.4 90.3 90.8 Energy | | 18.80 | 115.6 115.8 117.6 116.3 117.9 117.6 119.3 120.0 121.8 | | | | | | INDUSTRY GROUP | | | Manufacturing | | 74.32 | 96.0 96.7 96.9 97.3 97.6 97.7 96.8 98.2 98.7 Manufacturing (NAICS) | 31-33 | 71.79 | 97.3 98.0 98.3 98.7 99.1 99.2 98.3 99.7 100.3 | | | Durable manufacturing | | 37.96 | 103.5 104.9 105.5 106.1 106.8 106.2 105.4 107.3 107.8 Wood products | 321 | .91 | 77.0 78.5 79.4 80.8 81.6 79.7 78.3 77.4 79.3 Nonmetallic mineral products | 327 | 1.51 | 74.0 74.3 74.5 74.6 75.4 74.2 75.7 75.8 77.6 Primary metals | 331 | 3.12 | 100.9 100.7 100.8 103.6 103.0 102.6 100.2 102.0 100.5 Fabricated metal products | 332 | 5.61 | 94.1 94.6 94.9 95.6 97.1 96.6 96.0 97.2 97.1 Machinery | 333 | 5.60 | 101.6 103.5 104.6 105.3 105.5 102.8 105.4 107.5 107.3 Computer and electronic products | 334 | 6.08 | 144.3 146.1 146.3 147.0 146.9 146.2 147.4 148.7 150.1 Electrical equip., appliances, | | | and components | 335 | 1.81 | 88.3 88.9 88.3 89.1 89.5 89.8 89.3 89.8 90.5 Motor vehicles and parts | 3361-3 | 4.52 | 101.8 105.7 107.5 106.6 109.6 109.7 103.2 110.3 109.4 Aerospace and miscellaneous | | | transportation equipment | 3364-9 | 4.61 | 104.3 105.6 106.1 106.3 106.1 106.0 105.4 106.6 108.2 Furniture and related products | 337 | 1.00 | 70.0 70.7 70.5 70.7 72.1 72.9 72.0 71.3 72.7 Miscellaneous | 339 | 3.20 | 109.7 109.8 110.8 111.5 112.4 112.9 110.5 112.1 113.9 | | | Nondurable manufacturing | | 33.83 | 91.0 91.1 90.9 91.2 91.2 92.1 91.2 92.0 92.6 Food, beverage, and tobacco products | 311,2 | 10.94 | 100.6 100.9 100.9 101.3 101.3 102.6 101.4 103.2 102.9 Textile and product mills | 313,4 | .66 | 72.8 73.3 73.3 73.5 74.3 74.0 72.6 71.2 73.0 Apparel and leather | 315,6 | .25 | 58.8 59.5 60.4 60.4 59.5 60.6 59.9 59.0 61.0 Paper | 322 | 2.32 | 85.6 85.5 84.1 84.6 83.5 83.5 83.4 81.8 82.7 Printing and support | 323 | 1.30 | 75.2 75.3 74.5 76.0 76.2 78.3 76.8 77.0 78.2 Petroleum and coal products | 324 | 3.81 | 95.9 95.8 96.8 96.6 96.6 96.8 96.7 96.0 99.1 Chemicals | 325 | 11.59 | 87.7 87.6 87.2 87.3 87.3 88.4 87.3 88.5 88.8 Plastics and rubber products | 326 | 2.95 | 91.2 90.8 91.6 91.9 92.2 92.5 92.2 93.2 94.1 | | | Other manufacturing (non-NAICS) | 1133,5111 | 2.53 | 69.1 69.6 70.6 68.9 67.8 67.6 66.7 68.1 68.4 | | | Mining | 21 | 15.88 | 120.2 120.6 122.6 120.2 121.2 121.4 122.4 123.5 125.3 Utilities | 2211,2 | 9.81 | 97.9 97.6 100.3 101.8 103.7 103.8 107.3 107.0 108.0 Electric | 2211 | 8.52 | 96.9 96.6 99.5 100.8 102.0 102.0 105.3 105.6 106.3 Natural gas | 2212 | 1.28 | 104.8 104.2 105.0 108.0 116.0 116.4 120.8 116.6 119.7 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- r Revised. p Preliminary. Note. See notes to table 1. Table 5 Industrial Production Indexes: Special Aggregates 2007 = 100, seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | 2013 | 2013 2014 Item | NAICS | Proportion| July Aug. Sept. Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total industry | | 100.00 | 99.4 100.0 100.7 100.8 101.4 101.5 101.3 102.5 103.2 | | | Energy | | 27.73 | 110.5 110.5 112.6 112.2 113.6 113.6 115.6 115.7 117.6 Consumer products | | 5.27 | 101.5 100.7 104.1 106.4 107.0 108.2 110.7 109.6 112.3 Commercial products | | 2.92 | 102.2 102.3 104.1 104.3 105.9 105.9 108.5 108.2 108.4 Oil and gas well drilling | 213111 | .73 | 97.3 98.1 98.4 97.2 97.5 98.1 97.9 97.7 99.6 Converted fuel | | 3.88 | 94.2 94.3 97.2 97.2 99.0 99.6 102.7 101.2 102.2 Primary energy | | 14.92 | 122.7 122.9 124.3 122.6 124.2 123.6 124.9 126.3 128.3 | | | Non-energy | | 72.27 | 95.8 96.5 96.8 97.0 97.3 97.5 96.6 98.1 98.5 Selected high-technology industries | | 3.27 | 182.2 183.9 183.1 184.2 185.3 183.8 184.6 188.3 189.7 Computers and peripheral equipment | 3341 | .35 | 71.4 73.0 74.0 73.0 73.5 72.5 69.2 70.2 71.2 Communications equipment | 3342 | .49 | 89.8 90.1 90.8 91.5 92.1 92.6 92.9 93.2 93.4 Semiconductors and related | | | electronic components | 334412-9 | 2.42 | 285.4 288.0 285.3 287.8 289.3 286.4 289.9 297.0 299.1 | | | Excluding selected high-technology | | | industries | | 68.99 | 92.3 93.0 93.3 93.5 93.8 94.0 93.0 94.5 94.8 | | | Motor vehicles and parts | 3361-3 | 4.52 | 101.8 105.7 107.5 106.6 109.6 109.7 103.2 110.3 109.4 Motor vehicles | 3361 | 2.22 | 105.9 111.7 114.6 113.0 117.0 117.7 106.6 117.2 115.5 Motor vehicle parts | 3363 | 2.00 | 100.7 103.0 103.2 102.6 104.8 104.5 101.9 105.6 105.5 | | | Excluding motor vehicles and parts | | 64.47 | 91.6 92.1 92.4 92.7 92.7 92.9 92.3 93.4 93.9 Consumer goods | | 18.91 | 90.1 90.2 90.3 90.5 90.5 91.3 90.6 91.7 92.1 Business equipment | | 8.20 | 103.1 104.4 105.3 105.5 105.0 104.3 105.1 106.7 107.4 Construction supplies | | 4.13 | 81.0 81.2 81.9 82.6 82.9 82.4 82.3 83.1 83.3 Business supplies | | 6.05 | 84.2 84.6 84.8 84.9 84.7 85.2 84.0 85.7 86.3 Materials | | 24.90 | 92.2 92.7 92.6 93.1 93.4 93.6 92.7 93.5 93.9 | | | Measures excluding selected high-technology | | | industries | | | Total industry | | 96.73 | 97.0 97.5 98.2 98.3 98.8 99.0 98.8 99.9 100.7 Manufacturing<1> | | 71.04 | 92.6 93.2 93.5 93.8 94.1 94.3 93.4 94.7 95.2 Durable | | 34.84 | 96.8 98.0 98.7 99.3 100.0 99.4 98.5 100.3 100.7 | | | Measures excluding motor vehicles and parts | | | Total industry | | 95.48 | 99.3 99.7 100.4 100.5 101.0 101.1 101.2 102.1 102.9 Manufacturing<1> | | 69.80 | 95.6 96.1 96.3 96.7 96.8 97.0 96.4 97.5 98.1 Durable | | 33.59 | 103.6 104.6 105.1 105.9 106.4 105.6 105.5 106.7 107.4 | | | Measures excluding selected high-technology | | | industries and motor vehicles and parts | | | Total industry | | 92.21 | 96.7 97.1 97.8 97.9 98.3 98.5 98.5 99.4 100.2 Manufacturing<1> | | 66.52 | 92.0 92.4 92.6 93.0 93.1 93.3 92.7 93.7 94.3 | | | Stage-of-process components | | | of non-energy materials, | | | measures of the input to | | | Finished processors | | 11.18 | 113.1 114.9 114.8 115.4 116.1 115.5 114.9 116.5 117.3 Primary and semifinished processors | | 17.32 | 92.8 93.0 92.9 93.2 93.7 94.0 92.9 93.9 94.1 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- r Revised. p Preliminary. Note. See notes to table 2. <1> See note on cover page. Table 6 Diffusion Indexes of Industrial Production Percent ------------------------------------------------------------------------------------------------------- Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. ------------------------------------------------------------------------------------------------------- One Month Earlier 2012 62.8 62.8 46.5 67.3 51.3 57.1 52.2 43.6 53.5 53.2 67.3 62.2 2013 55.1 62.2 50.6 51.6 54.5 62.2 50.6 63.5 57.4 53.8 59.0 52.6 2014 39.7 66.7 Three Months Earlier 2012 63.8 71.9 63.0 59.9 53.8 62.8 56.7 51.9 48.1 41.7 60.9 66.3 2013 67.6 63.5 55.4 53.8 51.6 56.1 55.1 64.1 58.7 61.2 61.5 56.1 2014 51.3 58.3 Six Months Earlier 2012 67.0 72.9 64.7 65.3 66.3 61.4 62.5 55.8 59.6 53.2 56.7 62.2 2013 58.3 63.8 65.1 67.6 57.7 56.7 57.4 56.7 57.4 66.3 65.9 63.5 2014 58.7 65.7 ------------------------------------------------------------------------------------------------------- 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. Table 7 Capacity Utilization Percent of capacity, seasonally adjusted -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | 1972- 1994- | | | | 2013 | 2013 95 2009| 2013 2014 | 2013 2014 Item | NAICS | proportion| ave. high low| Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | | 100.00 | 80.1 85.0 66.9 | 77.9 78.4 78.7 | 78.2 78.5 78.4 78.1 78.8 79.2 | | | | | Manufacturing<1> | | 76.91 | 78.7 84.6 63.9 | 76.0 76.4 76.2 | 76.3 76.4 76.4 75.5 76.5 76.7 Manufacturing (NAICS) | 31-33 | 73.68 | 78.5 84.7 63.7 | 76.5 77.0 76.9 | 76.9 77.1 77.0 76.2 77.1 77.3 | | | | | Durable manufacturing | | 39.65 | 77.0 83.6 58.5 | 75.6 76.3 75.9 | 76.3 76.6 75.9 75.1 76.2 76.3 Wood products | 321 | 1.03 | 76.7 86.5 50.1 | 70.7 72.6 70.0 | 72.8 73.4 71.6 70.1 69.1 70.6 Nonmetallic mineral products | 327 | 2.03 | 74.5 82.6 44.1 | 59.3 59.9 61.5 | 59.8 60.5 59.6 60.9 61.0 62.5 Primary metals | 331 | 3.18 | 79.0 94.1 48.7 | 75.9 77.4 75.5 | 77.8 77.3 76.9 75.1 76.4 75.2 Fabricated metal products | 332 | 5.48 | 77.5 84.8 61.9 | 80.0 80.8 80.3 | 80.4 81.4 80.7 79.9 80.7 80.4 Machinery | 333 | 5.61 | 78.1 87.6 59.3 | 78.5 78.8 79.6 | 79.6 79.5 77.2 78.8 80.2 79.7 Computer and electronic products | 334 | 6.67 | 78.0 84.3 70.6 | 73.8 73.3 73.0 | 73.8 73.4 72.7 72.8 73.0 73.2 Electrical equip., appliances, | | | | | and components | 335 | 1.72 | 82.6 92.5 66.0 | 82.8 83.4 83.4 | 83.2 83.4 83.6 83.0 83.3 83.8 Motor vehicles and parts | 3361-3 | 4.76 | 75.0 87.8 35.1 | 75.8 78.1 77.2 | 76.8 78.8 78.8 74.1 79.1 78.3 Aerospace and miscellaneous | | | | | transportation equipment | 3364-9 | 4.77 | 73.4 70.3 72.0 | 75.3 75.5 75.5 | 75.8 75.4 75.3 74.6 75.4 76.4 Furniture and related products | 337 | 1.09 | 76.5 82.6 57.2 | 72.5 73.9 73.7 | 72.7 74.1 74.8 73.8 73.1 74.3 Miscellaneous | 339 | 3.30 | 76.0 80.5 68.1 | 75.8 75.8 74.4 | 75.7 75.8 75.7 73.7 74.3 75.1 | | | | | Nondurable manufacturing | | 34.03 | 80.7 86.0 69.1 | 77.6 77.9 78.0 | 77.7 77.6 78.3 77.5 78.1 78.5 Food, beverage, and tobacco products | 311,2 | 10.68 | 81.0 85.4 75.1 | 79.6 80.1 80.4 | 79.8 79.8 80.7 79.6 80.9 80.6 Textile and product mills | 313,4 | .75 | 79.6 91.8 53.4 | 69.3 70.4 69.0 | 69.8 70.7 70.5 69.3 68.0 69.8 Apparel and leather | 315,6 | .27 | 77.5 87.2 56.9 | 73.6 74.9 75.3 | 75.0 74.1 75.7 75.0 74.1 76.7 Paper | 322 | 2.19 | 86.7 92.6 72.4 | 83.4 82.4 81.5 | 83.1 82.1 82.1 82.1 80.6 81.6 Printing and support | 323 | 1.50 | 80.7 85.0 59.8 | 68.8 70.8 71.5 | 69.9 70.2 72.2 70.9 71.2 72.3 Petroleum and coal products | 324 | 3.62 | 85.5 91.1 75.8 | 82.7 83.1 83.6 | 83.1 83.1 83.2 83.2 82.5 85.2 Chemicals | 325 | 11.97 | 77.6 82.0 65.2 | 75.3 75.2 75.4 | 75.0 74.9 75.8 74.7 75.7 75.8 Plastics and rubber products | 326 | 3.04 | 82.0 93.2 58.5 | 76.2 76.5 76.5 | 76.5 76.5 76.5 76.0 76.6 77.0 | | | | | Other manufacturing (non-NAICS) | 1133,5111 | 3.24 | 81.7 83.2 68.6 | 62.6 61.2 61.0 | 61.9 60.9 60.8 60.1 61.3 61.6 | | | | | Mining | 21 | 13.48 | 87.3 88.5 78.8 | 88.7 87.6 88.4 | 87.4 87.7 87.5 87.8 88.2 89.1 Utilities | 2211,2 | 9.61 | 86.1 93.3 78.5 | 77.9 81.3 84.6 | 80.3 81.8 81.8 84.5 84.2 85.0 | | | | | Selected high-technology industries | | 3.77 | 77.9 86.3 72.2 | 72.0 71.7 71.5 | 71.9 72.0 71.0 70.9 71.8 71.8 Computers and peripheral equipment | 3341 | .42 | 78.2 87.7 83.5 | 70.7 69.0 65.4 | 69.6 69.5 68.1 64.7 65.3 66.2 Communications equipment | 3342 | .53 | 76.7 84.1 77.3 | 77.0 78.1 78.4 | 77.8 78.1 78.3 78.3 78.4 78.4 Semiconductors and related | | | | | electronic components | 334412-9 | 2.82 | 79.7 90.8 63.3 | 71.3 70.9 71.2 | 71.3 71.3 70.1 70.5 71.6 71.4 | | | | | Measures excluding selected high-technology | | | | | industries | | | | | Total industry | | 96.23 | 80.3 84.9 66.7 | 78.1 78.6 79.0 | 78.4 78.7 78.7 78.4 79.1 79.5 Manufacturing<1> | | 73.15 | 78.7 84.5 63.5 | 76.2 76.6 76.5 | 76.5 76.6 76.7 75.8 76.7 77.0 | | | | | Stage-of-process groups | | | | | Crude | | 17.66 | 86.3 89.6 76.8 | 87.0 86.0 86.4 | 85.9 86.1 86.0 85.8 86.4 87.0 Primary and semifinished | | 44.85 | 80.8 87.7 64.2 | 75.9 77.2 77.7 | 76.9 77.4 77.2 77.3 77.6 78.1 Finished | | 37.49 | 77.1 80.6 66.8 | 75.9 76.1 76.2 | 76.1 76.1 76.2 75.3 76.6 76.7 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> See note on cover page Note. See notes to table 2. Table 8 Industrial Capacity Percent change ----------------------------------------------------------------------------------------------------------------------------------------------------- | Average annual rate | Fourth quarter to fourth quarter | Annual rate | Monthly rate |----------------------------|------------------------------------|----------------------------|-------------- | 1972- 1980- 1989- 1995-| | 2013 2014 | 2014 Item | 79 88 94 2014 | 2011 2012 2013 2014 | Q2 Q3 Q4 Q1 | Mar. ----------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | 3.1 1.9 2.3 2.4 | 1.4 2.6 1.9 3.0 | 1.6 1.9 2.3 2.7 | .2 | | | | Manufacturing<1> | 3.3 2.2 2.6 2.5 | .5 2.2 1.8 2.6 | 1.7 1.8 2.0 2.4 | .2 | | | | Mining | .7 .1 -.6 1.0 | 5.9 4.8 4.0 5.8 | 3.6 4.1 4.8 5.4 | .5 Utilities | 4.2 2.1 1.8 1.9 | 1.8 1.3 .4 1.0 | .3 .4 .6 .9 | .1 | | | | | | | | Selected high-technology industries | 19.6 17.3 15.7 20.3 | 25.9 19.0 4.7 10.7 | 3.7 3.4 5.2 7.9 | .8 Manufacturing<1> ex. selected | | | | high-technology industries | 2.6 1.3 1.6 1.1 | -.6 1.4 1.7 2.2 | 1.6 1.7 1.8 2.0 | .2 | | | | Stage-of-process groups | | | | Crude | 1.6 .4 -.5 .9 | 4.6 3.5 3.1 4.8 | 2.7 3.2 3.9 4.4 | .4 Primary and semifinished | 3.0 1.3 2.6 2.7 | 1.0 2.0 .7 2.2 | .5 .6 1.1 1.7 | .2 Finished | 3.9 3.3 2.7 2.3 | .5 2.6 2.9 2.9 | 2.9 3.0 3.0 3.0 | .2 ----------------------------------------------------------------------------------------------------------------------------------------------------- <1> Refer to note on cover page. Table 9 Gross Value of Final Products and Nonindustrial Supplies Billions of 2009 dollars at annual rate, seasonally adjusted ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | 2013 2014 | 2013 2014 Item | 2009 | 2013 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | Final products and nonindustrial | | | | supplies | 3,212.1 | 3,626.3 | 3,622.4 3,682.5 3,711.8 | 3,671.7 3,683.3 3,692.5 3,668.6 3,718.4 3,748.3 | | | | Final products | 2,410.8 | 2,746.6 | 2,741.7 2,789.1 2,813.0 | 2,782.0 2,788.0 2,797.3 2,777.1 2,816.8 2,845.2 | | | | Consumer goods | 1,811.4 | 1,984.2 | 1,976.8 2,018.3 2,035.8 | 2,009.4 2,016.3 2,029.3 2,012.1 2,035.5 2,059.8 Durable | 381.7 | 523.5 | 524.5 541.9 537.6 | 533.9 545.2 546.5 523.1 545.0 544.6 Automotive products | 225.1 | 346.9 | 347.1 361.7 357.8 | 354.6 364.3 366.2 343.0 366.3 364.1 Other durable goods | 156.5 | 176.6 | 177.4 180.3 179.8 | 179.4 181.0 180.6 179.8 179.0 180.7 Nondurable | 1,429.8 | 1,474.1 | 1,466.2 1,491.9 1,512.0 | 1,489.7 1,487.4 1,498.7 1,500.9 1,505.9 1,529.2 | | | | Equipment, total | 599.4 | 769.0 | 772.1 777.0 783.4 | 779.4 778.1 773.4 770.8 787.9 791.5 Business and defense | 583.2 | 745.1 | 748.0 752.9 759.1 | 755.5 754.0 749.2 746.7 763.7 766.9 Business | 477.2 | 627.2 | 630.1 634.1 639.9 | 636.6 635.4 630.4 628.5 644.5 646.8 Defense and space | 106.0 | 118.3 | 118.3 119.2 119.6 | 119.3 119.1 119.2 118.6 119.7 120.6 | | | | Nonindustrial supplies | 801.3 | 879.4 | 880.5 893.0 898.4 | 889.3 895.0 894.9 891.2 901.3 902.8 Construction supplies | 221.8 | 260.6 | 260.5 264.1 264.6 | 264.3 265.5 262.6 262.5 265.6 265.6 Business supplies | 579.5 | 619.4 | 620.6 629.6 634.4 | 625.7 630.1 632.9 629.3 636.3 637.7 Commercial energy products | 233.3 | 241.7 | 241.6 247.4 249.9 | 244.6 248.2 249.5 250.4 250.1 249.1 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. Table 10 Gross-Value-Weighted Industrial Production: Stage-of-Process Groups Percent change, seasonally adjusted ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Fourth quarter to | | | | | fourth quarter | Annual rate | Monthly rate | | |------------------------------|------------------------------|------------------------------------------------------------| Mar. '13 | 2013 | | 2013 2014 | 2013 2014 | to Item | gross value<1>| 2011 2012 2013 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '14 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | Finished | 2,191.2 | 4.6 4.3 3.6 | 1.1 4.9 1.8 | .2 .3 .3 -1.5 2.3 .2 | 2.8 Semifinished | 1,907.5 | 2.7 3.7 3.3 | .3 7.1 5.8 | .5 .7 .0 .3 1.0 .5 | 3.4 Primary | 1,418.8 | 1.3 .4 3.7 | 2.3 8.5 1.1 | .9 .9 .0 -.2 -.7 2.0 | 3.3 Crude | 674.6 | 2.9 2.1 2.6 | 6.9 -.5 2.3 | -.7 .1 .5 -.8 1.2 .5 | 3.9 | | | | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> Billions of 2009 dollars. Table 11 Historical Statistics for Industrial Production, Capacity, and Utilization: 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> | | | 1992 | -.6 .7 .9 .7 .3 .0 .9 -.5 .2 .8 .4 .1 | -.5 7.2 3.0 4.3 | 2.8 1993 | .5 .4 .0 .3 -.4 .2 .3 -.1 .5 .8 .4 .5 | 3.6 .8 1.6 6.2 | 3.3 1994 | .4 .0 1.0 .5 .6 .7 .2 .6 .4 .8 .6 1.0 | 5.1 7.5 5.3 8.4 | 5.3 1995 | .2 -.1 .1 .0 .3 .4 -.4 1.3 .4 -.1 .2 .4 | 4.4 1.5 3.9 3.4 | 4.7 | | | 1996 | -.7 1.6 -.1 .9 .7 .8 -.2 .6 .6 -.1 .9 .6 | 2.7 8.5 5.0 5.5 | 4.4 1997 | .2 1.2 .7 .1 .6 .5 .9 1.0 .9 .9 .9 .3 | 7.9 6.3 9.8 10.5 | 7.2 1998 | .5 .1 .1 .3 .6 -.7 -.4 2.1 -.3 .8 .0 .4 | 4.5 2.5 2.8 5.6 | 5.8 1999 | .5 .5 .2 .2 .8 -.2 .6 .4 -.4 1.3 .5 .8 | 4.3 3.8 3.8 7.5 | 4.3 2000 | .0 .3 .4 .7 .2 .1 -.1 -.3 .4 -.3 .0 -.3 | 4.3 5.3 -.4 -1.2 | 4.0 | | | 2001 | -.7 -.6 -.3 -.3 -.7 -.7 -.5 -.2 -.4 -.5 -.5 .0 | -5.6 -5.5 -5.7 -4.5 | -3.4 2002 | .6 .0 .8 .5 .4 1.0 -.2 .0 .1 -.3 .5 -.5 | 2.9 6.5 2.4 -.2 | .2 2003 | .7 .3 -.2 -.8 .0 .0 .6 -.3 .6 .1 .8 -.1 | 2.6 -3.1 2.7 3.4 | 1.2 2004 | .3 .5 -.5 .4 .8 -.8 .8 .0 .1 1.0 .2 .7 | 2.5 1.8 2.1 5.7 | 2.3 2005 | .5 .6 -.1 .1 .2 .4 -.2 .2 -2.0 1.3 1.0 .6 | 5.7 2.2 -1.7 3.4 | 3.2 | | | 2006 | .1 .0 .3 .4 -.1 .4 .0 .3 -.2 .0 -.1 1.0 | 3.8 2.4 1.6 .8 | 2.2 2007 | -.5 1.1 .1 .7 .0 .0 .0 .1 .4 -.5 .6 .0 | 3.7 4.9 1.1 .7 | 2.5 2008 | -.2 -.3 -.3 -.7 -.5 -.2 -.5 -1.5 -4.2 .8 -1.3 -2.8 | -1.4 -5.3 -12.1 -16.0 | -3.4 2009 | -2.2 -.7 -1.5 -.8 -1.1 -.4 1.0 1.0 .7 .4 .4 .3 | -20.0 -10.8 5.2 6.3 | -11.3 2010 | 1.2 .3 .8 .4 1.6 .2 .6 .3 .3 -.3 .2 .8 | 8.3 8.7 6.5 1.5 | 5.7 | | | 2011 | .0 -.6 1.0 -.5 .3 .2 .6 .5 .1 .5 .1 .4 | 2.5 1.2 5.2 3.9 | 3.3 2012 | .9 .4 -.4 .8 .3 .1 .6 -.6 .3 -.1 1.0 .1 | 5.2 3.8 1.6 2.4 | 3.8 2013 | .1 .6 .4 -.2 .1 .2 -.2 .6 .7 .1 .5 .1 | 4.2 1.9 2.5 4.8 | 2.9 2014 | -.2 1.2 .7 | 4.4 | | | | IP | | | (2007=100) | | | 2012 | 96.0 96.4 96.0 96.8 97.1 97.2 97.7 97.1 97.4 97.3 98.3 98.4 | 96.1 97.0 97.4 98.0 | 97.1 2013 | 98.4 99.0 99.5 99.3 99.4 99.6 99.4 100.0 100.7 100.8 101.4 101.5 | 99.0 99.4 100.1 101.2 | 99.9 2014 | 101.3 102.5 103.2 | 102.3 | | | | Capacity | | | (percent of | | | 2007 output) | | | 2012 | 124.2 124.5 124.8 125.1 125.4 125.7 125.9 126.2 126.4 126.6 126.8 127.0 | 124.5 125.4 126.2 126.8 | 125.7 2013 | 127.2 127.3 127.5 127.7 127.9 128.0 128.2 128.5 128.7 128.9 129.2 129.4 | 127.3 127.9 128.5 129.2 | 128.2 2014 | 129.7 130.0 130.3 | 130.0 | | | | Utilization | | | (percent) | | | 1992 | 79.3 79.8 80.3 80.7 80.8 80.6 81.1 80.6 80.6 81.0 81.2 81.1 | 79.8 80.7 80.7 81.1 | 80.6 1993 | 81.3 81.5 81.3 81.4 81.0 81.1 81.2 81.1 81.3 81.8 82.0 82.3 | 81.3 81.2 81.2 82.1 | 81.4 1994 | 82.5 82.3 83.0 83.2 83.4 83.7 83.6 83.8 83.8 84.2 84.4 85.0 | 82.6 83.4 83.7 84.5 | 83.6 1995 | 84.8 84.4 84.3 83.9 83.9 83.9 83.2 84.0 84.0 83.6 83.4 83.4 | 84.5 83.9 83.8 83.5 | 83.9 | | | 1996 | 82.5 83.4 83.0 83.3 83.6 83.9 83.3 83.5 83.6 83.2 83.5 83.6 | 83.0 83.6 83.5 83.4 | 83.4 1997 | 83.3 83.9 84.0 83.6 83.7 83.6 83.9 84.2 84.4 84.6 84.8 84.5 | 83.7 83.7 84.2 84.7 | 84.1 1998 | 84.4 83.9 83.4 83.2 83.2 82.2 81.4 82.6 82.0 82.3 81.8 81.8 | 83.9 82.8 82.0 81.9 | 82.7 1999 | 81.8 81.8 81.6 81.5 81.8 81.4 81.6 81.6 81.0 81.8 81.9 82.2 | 81.7 81.5 81.4 81.9 | 81.7 2000 | 81.9 81.9 81.9 82.2 82.1 81.9 81.6 81.0 81.1 80.6 80.3 79.9 | 81.9 82.1 81.2 80.3 | 81.4 | | | 2001 | 79.1 78.3 77.9 77.5 76.7 76.0 75.4 75.1 74.7 74.2 73.6 73.5 | 78.4 76.7 75.1 73.8 | 76.0 2002 | 73.9 73.8 74.3 74.6 74.8 75.5 75.3 75.3 75.4 75.2 75.6 75.2 | 74.0 75.0 75.3 75.3 | 74.9 2003 | 75.8 76.0 75.9 75.3 75.4 75.4 75.9 75.7 76.2 76.2 76.8 76.8 | 75.9 75.4 75.9 76.6 | 75.9 2004 | 77.0 77.4 77.1 77.4 78.0 77.4 78.0 78.1 78.1 78.9 79.0 79.5 | 77.2 77.6 78.1 79.1 | 78.0 2005 | 79.8 80.3 80.1 80.1 80.2 80.4 80.1 80.1 78.4 79.3 79.9 80.3 | 80.1 80.2 79.5 79.8 | 79.9 | | | 2006 | 80.2 80.2 80.3 80.4 80.2 80.4 80.3 80.4 80.1 79.9 79.7 80.3 | 80.2 80.4 80.3 80.0 | 80.2 2007 | 79.7 80.4 80.4 80.8 80.7 80.6 80.5 80.5 80.8 80.4 80.8 80.8 | 80.2 80.7 80.6 80.7 | 80.5 2008 | 80.7 80.5 80.3 79.8 79.4 79.3 78.9 77.7 74.3 74.9 73.9 71.7 | 80.5 79.5 77.0 73.5 | 77.6 2009 | 70.1 69.5 68.5 67.9 67.2 66.9 67.6 68.3 68.9 69.3 69.7 70.0 | 69.4 67.3 68.3 69.7 | 68.7 2010 | 71.0 71.4 72.1 72.5 73.8 74.1 74.7 75.0 75.3 75.1 75.3 76.0 | 71.5 73.5 75.0 75.5 | 73.8 | | | 2011 | 76.0 75.6 76.3 75.8 76.0 76.1 76.4 76.6 76.6 76.8 76.7 76.8 | 75.9 76.0 76.5 76.8 | 76.3 2012 | 77.3 77.4 76.9 77.4 77.4 77.3 77.6 77.0 77.0 76.9 77.5 77.5 | 77.2 77.4 77.2 77.3 | 77.3 2013 | 77.4 77.8 78.0 77.8 77.8 77.8 77.5 77.8 78.3 78.2 78.5 78.4 | 77.7 77.8 77.9 78.4 | 77.9 2014 | 78.1 78.8 79.2 | 78.7 | ------------------------------------------------------------------------------------------------------------------------------------------- <1> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages. Table 12 Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1> Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------- | | | Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual ------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) <2> | | | 1992 | -.6 .9 1.0 .5 .6 .2 .9 -.4 .1 .7 .4 -.1 | .5 8.2 4.1 3.2 | 3.6 1993 | 1.0 .2 -.2 .5 -.1 -.2 .2 -.2 .6 .9 .4 .5 | 4.5 1.3 .7 7.0 | 3.5 1994 | .2 .1 1.3 .8 .7 .3 .4 .8 .5 1.0 .8 1.1 | 4.9 9.6 6.2 10.1 | 5.9 1995 | .2 -.2 .2 -.1 .1 .5 -.6 1.2 .9 -.1 .1 .4 | 4.6 1.0 3.3 4.3 | 5.2 | | | 1996 | -.8 1.6 -.2 1.1 .7 1.0 .2 .6 .8 -.2 .8 .8 | 1.8 9.7 7.4 5.7 | 4.8 1997 | .1 1.4 1.1 -.2 .8 .7 .8 1.2 .9 .9 1.1 .4 | 9.4 7.4 11.0 11.4 | 8.4 1998 | .8 .1 -.1 .5 .5 -.8 -.4 2.5 -.3 1.0 .2 .5 | 6.1 1.9 3.1 7.8 | 6.6 1999 | .3 .8 -.1 .3 1.0 -.3 .4 .6 -.4 1.5 .6 .7 | 4.9 4.3 3.4 8.9 | 5.0 2000 | .1 .2 .7 .7 -.1 .2 .1 -.7 .4 -.3 -.3 -.6 | 4.7 5.1 -.5 -2.8 | 4.2 | | | 2001 | -.7 -.6 -.3 -.3 -.8 -.7 -.5 -.5 -.2 -.6 -.3 .3 | -6.5 -5.7 -6.2 -4.2 | -4.1 2002 | .5 .0 .8 .2 .6 1.1 -.3 .2 .1 -.4 .4 -.5 | 3.5 5.9 3.1 -.4 | .3 2003 | .5 .1 .2 -.9 .1 .4 .4 -.5 .8 .1 1.0 -.3 | 1.8 -2.1 2.4 3.8 | 1.3 2004 | .0 .6 -.2 .4 .8 -.7 .9 .4 .0 1.0 -.1 .6 | 2.1 3.0 3.7 5.4 | 2.8 2005 | .8 .8 -.4 .3 .4 .2 -.2 .3 -1.1 1.5 .8 .1 | 6.4 2.4 -.4 5.9 | 4.0 | | | 2006 | .8 -.2 -.1 .5 -.5 .3 -.2 .6 .0 -.4 .0 1.5 | 3.9 .9 .9 1.5 | 2.5 2007 | -.5 .4 .8 .7 -.1 .3 .2 -.4 .5 -.4 .5 .1 | 4.0 5.8 .9 .7 | 2.7 2008 | -.4 -.6 -.3 -1.1 -.5 -.6 -1.1 -1.2 -3.4 -.6 -2.4 -3.4 | -2.6 -7.5 -13.4 -21.6 | -4.7 2009 | -2.9 -.3 -1.8 -.7 -1.1 -.3 1.4 1.0 .8 .2 1.0 -.1 | -23.9 -10.9 7.0 6.9 | -13.6 2010 | 1.1 -.1 1.3 .9 1.5 .0 .8 .1 .1 .1 .2 .4 | 7.0 11.4 5.7 1.6 | 6.1 | | | 2011 | .2 .0 .7 -.6 .2 .1 .8 .3 .4 .5 -.1 .7 | 2.9 .0 5.4 4.3 | 3.4 2012 | 1.0 .6 -.3 .8 -.2 .4 .4 -.5 .2 -.4 1.3 .7 | 7.3 3.0 1.2 2.5 | 4.1 2013 | -.2 .6 .1 -.2 .3 .3 -.4 .7 .3 .4 .3 .1 | 4.4 1.3 1.9 4.2 | 2.6 2014 | -.9 1.4 .5 | 1.7 | | | | IP | | | (2007 = 100) | | | 2012 | 92.9 93.5 93.2 93.9 93.7 94.0 94.4 94.0 94.1 93.7 94.9 95.6 | 93.2 93.9 94.2 94.7 | 94.0 2013 | 95.4 95.9 96.0 95.8 96.1 96.4 96.0 96.7 96.9 97.3 97.6 97.7 | 95.8 96.1 96.5 97.5 | 96.5 2014 | 96.8 98.2 98.7 | 97.9 | | | | Capacity | | | (percent of | | | 2007 output) | | | 2012 | 123.2 123.4 123.6 123.9 124.1 124.4 124.6 124.8 125.0 125.2 125.4 125.6 | 123.4 124.1 124.8 125.4 | 124.5 2013 | 125.8 126.0 126.2 126.3 126.5 126.7 126.9 127.1 127.3 127.5 127.7 127.9 | 126.0 126.5 127.1 127.7 | 126.8 2014 | 128.2 128.5 128.7 | 128.5 | | | | Utilization | | | (percent) | | | 1992 | 78.2 78.7 79.4 79.6 79.9 79.9 80.4 79.8 79.7 80.0 80.1 79.8 | 78.8 79.8 80.0 80.0 | 79.6 1993 | 80.4 80.4 80.1 80.4 80.2 80.0 80.1 79.8 80.2 80.8 81.0 81.3 | 80.3 80.2 80.0 81.0 | 80.4 1994 | 81.3 81.2 82.0 82.5 82.8 82.7 82.8 83.1 83.2 83.7 84.0 84.6 | 81.5 82.7 83.0 84.1 | 82.8 1995 | 84.4 83.9 83.7 83.3 83.1 83.1 82.3 82.8 83.2 82.7 82.4 82.3 | 84.0 83.2 82.8 82.5 | 83.1 | | | 1996 | 81.3 82.1 81.5 82.0 82.2 82.6 82.3 82.4 82.6 82.0 82.2 82.4 | 81.6 82.3 82.4 82.2 | 82.1 1997 | 82.1 82.7 83.1 82.5 82.7 82.7 82.8 83.2 83.3 83.4 83.8 83.5 | 82.6 82.6 83.1 83.6 | 83.0 1998 | 83.5 83.0 82.3 82.1 81.9 80.7 79.9 81.3 80.6 81.0 80.7 80.7 | 82.9 81.5 80.6 80.8 | 81.5 1999 | 80.6 80.8 80.4 80.3 80.7 80.1 80.1 80.2 79.6 80.5 80.6 80.8 | 80.6 80.3 80.0 80.6 | 80.4 2000 | 80.6 80.4 80.6 80.8 80.4 80.2 80.0 79.2 79.2 78.6 78.1 77.4 | 80.5 80.5 79.5 78.0 | 79.6 | | | 2001 | 76.6 75.9 75.5 75.1 74.3 73.6 73.1 72.6 72.3 71.7 71.4 71.6 | 76.0 74.3 72.7 71.6 | 73.6 2002 | 71.9 71.8 72.3 72.5 72.8 73.7 73.4 73.5 73.6 73.3 73.7 73.3 | 72.0 73.0 73.5 73.4 | 73.0 2003 | 73.7 73.8 73.9 73.2 73.3 73.6 73.9 73.5 74.1 74.2 74.9 74.8 | 73.8 73.4 73.8 74.6 | 73.9 2004 | 74.8 75.3 75.3 75.6 76.2 75.7 76.4 76.7 76.6 77.4 77.3 77.7 | 75.1 75.8 76.6 77.4 | 76.2 2005 | 78.2 78.7 78.2 78.3 78.4 78.4 78.0 78.1 77.1 78.1 78.6 78.5 | 78.3 78.3 77.7 78.4 | 78.2 | | | 2006 | 79.0 78.7 78.5 78.8 78.3 78.5 78.2 78.5 78.4 78.0 77.8 78.8 | 78.7 78.5 78.3 78.2 | 78.4 2007 | 78.2 78.4 78.8 79.2 78.9 79.0 78.9 78.5 78.7 78.3 78.6 78.6 | 78.5 79.0 78.7 78.5 | 78.7 2008 | 78.3 77.8 77.6 76.8 76.5 76.2 75.4 74.6 72.1 71.8 70.2 67.9 | 77.9 76.5 74.0 70.0 | 74.6 2009 | 66.1 66.0 65.0 64.6 64.0 63.9 64.9 65.7 66.3 66.5 67.3 67.4 | 65.7 64.2 65.6 67.1 | 65.6 2010 | 68.2 68.3 69.3 70.0 71.2 71.3 72.0 72.2 72.4 72.5 72.7 73.0 | 68.6 70.8 72.2 72.7 | 71.1 | | | 2011 | 73.2 73.3 73.8 73.3 73.4 73.5 74.0 74.2 74.3 74.6 74.4 74.8 | 73.4 73.4 74.2 74.6 | 73.9 2012 | 75.5 75.8 75.4 75.8 75.5 75.6 75.8 75.3 75.3 74.8 75.7 76.1 | 75.5 75.6 75.4 75.5 | 75.5 2013 | 75.8 76.1 76.1 75.8 75.9 76.1 75.6 76.1 76.2 76.3 76.4 76.4 | 76.0 75.9 76.0 76.4 | 76.1 2014 | 75.5 76.5 76.7 | 76.2 | ------------------------------------------------------------------------------------------------------------------------------------------- <1> See note on cover page. <2> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages. Table 13 Historical Statistics for Industrial Production, Capacity, and Utilization: Total Industry Excluding Selected High-Technology Industries Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------- | | | Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual ------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) <1> | | | 1992 | -.8 .7 .8 .6 .3 -.2 .8 -.6 .1 .6 .3 .0 | -2.0 6.1 1.9 3.0 | 1.9 1993 | .5 .3 -.1 .3 -.4 .2 .3 -.1 .4 .7 .3 .5 | 3.1 .2 1.3 5.3 | 2.5 1994 | .4 .0 .9 .3 .4 .6 .0 .4 .1 .6 .4 .9 | 4.4 5.4 3.2 5.7 | 4.0 1995 | .1 -.2 -.1 -.3 .1 .2 -.6 1.1 .1 -.4 .1 .1 | 2.8 -1.2 1.5 .4 | 2.5 | | | 1996 | -1.0 1.3 -.3 .8 .6 .6 -.5 .4 .4 -.4 .7 .5 | -.5 6.6 2.0 2.9 | 1.7 1997 | .0 .9 .4 -.2 .3 .2 .6 .7 .6 .7 .6 .1 | 5.1 2.5 6.4 7.5 | 4.2 1998 | .3 .0 .0 .2 .6 -.9 -.7 1.9 -.6 .5 -.3 .1 | 2.0 .7 -.3 2.3 | 3.0 1999 | .2 .1 -.1 -.1 .6 -.5 .3 .4 -.5 1.2 .2 .5 | .7 .3 1.0 5.5 | 1.1 2000 | -.3 .0 .1 .4 -.1 -.1 -.4 -.5 .3 -.4 -.2 -.5 | .4 1.6 -3.1 -2.7 | 1.0 | | | 2001 | -.7 -.5 -.3 -.2 -.6 -.5 -.3 -.1 -.4 -.5 -.5 -.1 | -5.9 -4.5 -4.4 -4.5 | -4.0 2002 | .7 -.1 .8 .4 .5 .9 -.3 -.1 .1 -.3 .5 -.6 | 2.6 6.4 1.8 -.8 | .3 2003 | .6 .1 -.3 -.9 -.1 -.1 .4 -.4 .5 .0 .7 -.1 | 1.5 -4.7 .9 2.4 | .2 2004 | .2 .5 -.6 .4 .8 -.8 .8 .0 .0 1.0 .2 .6 | 2.1 2.0 2.1 5.2 | 1.7 2005 | .4 .6 -.2 .0 .1 .4 -.3 .0 -2.2 1.2 1.0 .5 | 4.8 1.3 -3.0 2.1 | 2.5 | | | 2006 | .1 .0 .2 .4 -.2 .3 .0 .2 -.3 -.1 -.2 1.0 | 3.4 1.9 .7 .1 | 1.4 2007 | -.5 1.0 -.1 .6 .1 .1 .0 .1 .3 -.7 .4 -.1 | 3.0 4.0 1.1 -1.0 | 1.8 2008 | -.3 -.4 -.4 -.8 -.6 -.2 -.4 -1.6 -4.3 1.1 -1.1 -2.7 | -2.5 -6.4 -12.3 -14.9 | -4.2 2009 | -2.2 -.7 -1.6 -.9 -1.1 -.4 1.0 1.0 .7 .3 .3 .3 | -19.7 -11.7 5.0 5.8 | -11.3 2010 | 1.1 .1 .6 .3 1.6 .2 .6 .2 .2 -.4 .1 .8 | 7.2 7.9 6.2 .7 | 5.0 | | | 2011 | .0 -.6 1.1 -.5 .3 .2 .7 .4 .1 .6 .1 .4 | 1.8 1.1 5.0 3.8 | 2.9 2012 | .9 .3 -.5 .8 .3 .0 .6 -.6 .2 -.2 1.0 .1 | 4.9 3.0 1.3 1.8 | 3.5 2013 | .0 .7 .4 -.2 .1 .2 -.2 .5 .8 .1 .5 .2 | 4.3 1.6 2.3 4.9 | 2.6 2014 | -.2 1.1 .7 | 4.4 | | | | IP | | | (2007 = 100) | | | 2012 | 94.1 94.4 94.0 94.7 95.0 95.0 95.5 94.9 95.1 95.0 95.9 96.0 | 94.2 94.9 95.2 95.6 | 95.0 2013 | 96.1 96.7 97.1 96.9 97.0 97.2 97.0 97.5 98.2 98.3 98.8 99.0 | 96.6 97.0 97.6 98.7 | 97.5 2014 | 98.8 99.9 100.7 | 99.8 | | | | Capacity | | | (percent of | | | 2007 output) | | | 2012 | 121.4 121.6 121.8 122.0 122.2 122.4 122.6 122.8 123.0 123.2 123.4 123.5 | 121.6 122.2 122.8 123.4 | 122.5 2013 | 123.7 123.8 124.0 124.2 124.3 124.5 124.7 124.9 125.1 125.3 125.6 125.8 | 123.8 124.3 124.9 125.6 | 124.7 2014 | 126.1 126.3 126.6 | 126.3 | | | | Utilization | | | (percent) | | | 1992 | 79.2 79.7 80.2 80.6 80.8 80.5 81.1 80.6 80.6 81.0 81.2 81.1 | 79.7 80.6 80.8 81.1 | 80.6 1993 | 81.4 81.6 81.4 81.6 81.1 81.2 81.4 81.2 81.4 81.9 82.1 82.4 | 81.5 81.3 81.3 82.1 | 81.6 1994 | 82.6 82.5 83.1 83.2 83.4 83.8 83.6 83.8 83.7 84.1 84.3 84.9 | 82.7 83.5 83.7 84.4 | 83.6 1995 | 84.9 84.5 84.3 83.9 83.8 83.8 83.2 83.9 83.8 83.3 83.3 83.2 | 84.6 83.8 83.6 83.3 | 83.8 | | | 1996 | 82.3 83.2 82.8 83.3 83.6 84.0 83.4 83.6 83.8 83.3 83.7 83.9 | 82.8 83.7 83.6 83.6 | 83.4 1997 | 83.6 84.1 84.2 83.7 83.7 83.6 83.9 84.1 84.3 84.6 84.8 84.6 | 84.0 83.7 84.1 84.7 | 84.1 1998 | 84.5 84.1 83.8 83.6 83.8 82.7 81.8 83.1 82.4 82.6 82.1 81.9 | 84.1 83.4 82.5 82.2 | 83.0 1999 | 81.8 81.7 81.5 81.2 81.5 80.9 81.0 81.1 80.6 81.5 81.5 81.8 | 81.7 81.2 80.9 81.6 | 81.3 2000 | 81.4 81.3 81.3 81.6 81.4 81.2 80.8 80.3 80.4 80.0 79.8 79.3 | 81.4 81.4 80.5 79.7 | 80.7 | | | 2001 | 78.7 78.2 77.9 77.7 77.1 76.6 76.2 76.0 75.7 75.2 74.8 74.6 | 78.2 77.1 76.0 74.9 | 76.5 2002 | 75.1 74.9 75.5 75.8 76.1 76.8 76.6 76.5 76.6 76.4 76.8 76.4 | 75.2 76.2 76.6 76.5 | 76.1 2003 | 77.0 77.1 76.9 76.3 76.3 76.2 76.6 76.3 76.8 76.7 77.3 77.2 | 77.0 76.3 76.6 77.1 | 76.7 2004 | 77.4 77.9 77.5 77.8 78.5 77.8 78.5 78.5 78.6 79.3 79.5 80.0 | 77.6 78.0 78.5 79.6 | 78.4 2005 | 80.3 80.7 80.6 80.6 80.6 80.8 80.5 80.5 78.6 79.4 80.1 80.4 | 80.5 80.7 79.8 80.0 | 80.3 | | | 2006 | 80.4 80.3 80.3 80.5 80.2 80.3 80.2 80.3 79.9 79.7 79.5 80.2 | 80.3 80.3 80.1 79.8 | 80.1 2007 | 79.7 80.4 80.3 80.7 80.7 80.8 80.8 80.9 81.2 80.7 81.0 81.0 | 80.1 80.8 81.0 80.9 | 80.7 2008 | 80.8 80.5 80.3 79.6 79.2 79.0 78.6 77.3 73.9 74.6 73.7 71.7 | 80.5 79.3 76.6 73.3 | 77.4 2009 | 70.0 69.4 68.3 67.6 66.9 66.7 67.4 68.2 68.8 69.1 69.5 69.9 | 69.2 67.1 68.1 69.5 | 68.5 2010 | 70.9 71.1 71.8 72.2 73.5 73.8 74.4 74.8 75.0 74.9 75.0 75.7 | 71.3 73.2 74.7 75.2 | 73.6 | | | 2011 | 75.7 75.3 76.0 75.7 75.9 76.0 76.4 76.6 76.6 76.9 76.9 77.0 | 75.7 75.8 76.6 76.9 | 76.2 2012 | 77.6 77.7 77.2 77.6 77.7 77.6 77.9 77.3 77.3 77.1 77.8 77.7 | 77.5 77.6 77.5 77.5 | 77.5 2013 | 77.7 78.1 78.3 78.0 78.0 78.0 77.8 78.1 78.5 78.4 78.7 78.7 | 78.0 78.0 78.1 78.6 | 78.2 2014 | 78.4 79.1 79.5 | 79.0 | ------------------------------------------------------------------------------------------------------------------------------------------- <1> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages. Note. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components. Table 14 Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1> Excluding Selected High-Technology Industries Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------- | | | Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual ------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) <2> | | | 1992 | -.9 .9 1.0 .4 .5 .1 .9 -.5 -.1 .5 .3 -.2 | -1.2 7.0 2.8 1.5 | 2.6 1993 | 1.1 .1 -.3 .5 -.1 -.2 .2 -.3 .5 .8 .3 .5 | 4.0 .5 .2 6.0 | 2.5 1994 | .1 .1 1.1 .6 .5 .2 .2 .6 .2 .7 .6 .9 | 4.0 7.1 3.8 7.0 | 4.4 1995 | .1 -.4 -.1 -.4 -.1 .3 -.8 .9 .5 -.4 -.1 .1 | 2.7 -2.3 .3 .7 | 2.5 | | | 1996 | -1.2 1.3 -.4 1.0 .6 .8 -.1 .3 .6 -.5 .7 .7 | -2.0 7.4 4.0 2.6 | 1.5 1997 | -.1 1.1 .8 -.6 .5 .4 .5 .9 .5 .7 .8 .1 | 6.2 2.9 7.0 7.9 | 4.9 1998 | .6 -.1 -.3 .2 .4 -1.2 -.8 2.3 -.7 .7 -.1 .2 | 3.3 -.3 -.6 4.1 | 3.4 1999 | -.1 .4 -.4 -.1 .8 -.7 .0 .6 -.5 1.4 .3 .4 | .8 .3 .2 6.7 | 1.4 2000 | -.3 -.2 .3 .4 -.6 .0 -.2 -1.0 .3 -.4 -.6 -.8 | .2 .7 -3.8 -4.7 | .7 | | | 2001 | -.6 -.5 -.3 -.1 -.7 -.6 -.2 -.5 -.2 -.7 -.2 .2 | -7.0 -4.5 -4.6 -4.2 | -4.8 2002 | .6 -.2 .8 .2 .6 1.1 -.4 .1 .1 -.4 .4 -.6 | 3.2 5.7 2.5 -1.1 | .4 2003 | .4 -.1 .1 -1.0 -.1 .2 .2 -.7 .7 -.1 .9 -.3 | .5 -4.0 .2 2.6 | .0 2004 | -.1 .7 -.2 .4 .8 -.8 1.0 .4 -.1 1.0 -.1 .6 | 1.6 3.3 3.7 4.9 | 2.0 2005 | .6 .7 -.5 .2 .3 .1 -.4 .2 -1.4 1.5 .7 .0 | 5.2 1.3 -2.0 4.4 | 3.1 | | | 2006 | .8 -.3 -.1 .5 -.6 .2 -.3 .5 -.1 -.4 .0 1.5 | 3.3 .1 -.2 .6 | 1.5 2007 | -.6 .3 .6 .5 .0 .5 .2 -.5 .3 -.6 .3 .0 | 3.2 4.7 1.0 -1.6 | 1.8 2008 | -.5 -.8 -.4 -1.2 -.6 -.6 -1.1 -1.3 -3.5 -.4 -2.1 -3.2 | -4.3 -9.2 -13.7 -20.5 | -5.8 2009 | -2.9 -.3 -2.0 -.9 -1.2 -.3 1.4 1.0 .8 .1 1.0 -.2 | -23.8 -12.1 6.8 6.2 | -13.8 2010 | 1.0 -.3 1.2 .9 1.5 .0 .8 .0 .0 .0 .0 .2 | 5.4 10.4 5.3 .6 | 5.1 | | | 2011 | .1 .0 .7 -.7 .2 .1 .9 .2 .4 .6 -.1 .7 | 2.0 -.1 5.2 4.3 | 2.8 2012 | 1.1 .5 -.4 .7 -.3 .3 .4 -.5 .1 -.6 1.3 .7 | 7.0 1.9 .8 1.7 | 3.7 2013 | -.3 .7 .1 -.3 .2 .3 -.5 .7 .3 .3 .3 .2 | 4.6 .8 1.6 4.2 | 2.3 2014 | -1.0 1.4 .5 | 1.4 | | | | IP | | | (2007 = 100) | | | 2012 | 90.3 90.8 90.4 91.0 90.8 91.0 91.4 90.9 91.0 90.5 91.7 92.4 | 90.5 90.9 91.1 91.5 | 91.0 2013 | 92.1 92.7 92.8 92.5 92.7 93.0 92.6 93.2 93.5 93.8 94.1 94.3 | 92.5 92.7 93.1 94.1 | 93.1 2014 | 93.4 94.7 95.2 | 94.4 | | | | Capacity | | | (percent of | | | 2007 output) | | | 2012 | 119.3 119.4 119.5 119.7 119.8 120.0 120.1 120.3 120.5 120.6 120.8 120.9 | 119.4 119.8 120.3 120.8 | 120.1 2013 | 121.1 121.3 121.4 121.6 121.7 121.9 122.1 122.2 122.4 122.6 122.8 123.0 | 121.3 121.7 122.2 122.8 | 122.0 2014 | 123.2 123.4 123.6 | 123.4 | | | | Utilization | | | (percent) | | | 1992 | 78.0 78.6 79.3 79.5 79.8 79.8 80.3 79.8 79.6 79.9 80.0 79.8 | 78.6 79.7 79.9 79.9 | 79.5 1993 | 80.5 80.5 80.2 80.5 80.3 80.0 80.2 79.9 80.2 80.8 81.0 81.3 | 80.4 80.3 80.1 81.0 | 80.4 1994 | 81.3 81.2 82.1 82.4 82.7 82.7 82.8 83.1 83.1 83.5 83.8 84.5 | 81.5 82.6 83.0 83.9 | 82.8 1995 | 84.4 83.9 83.7 83.2 82.9 83.0 82.1 82.6 82.9 82.4 82.1 82.0 | 84.0 83.0 82.5 82.2 | 82.9 | | | 1996 | 80.9 81.7 81.2 81.9 82.2 82.6 82.4 82.4 82.7 82.0 82.4 82.7 | 81.3 82.2 82.5 82.3 | 82.1 1997 | 82.3 82.9 83.3 82.5 82.6 82.6 82.6 83.0 83.1 83.3 83.7 83.4 | 82.8 82.5 82.9 83.5 | 82.9 1998 | 83.5 83.1 82.6 82.4 82.4 81.2 80.2 81.8 80.9 81.2 80.9 80.8 | 83.1 82.0 81.0 80.9 | 81.7 1999 | 80.5 80.6 80.0 79.8 80.2 79.4 79.3 79.6 79.0 80.0 80.1 80.2 | 80.4 79.8 79.3 80.1 | 79.9 2000 | 79.9 79.6 79.7 79.9 79.4 79.2 79.0 78.1 78.2 77.8 77.3 76.5 | 79.7 79.5 78.4 77.2 | 78.7 | | | 2001 | 76.0 75.5 75.2 75.1 74.5 74.0 73.8 73.4 73.2 72.7 72.5 72.6 | 75.6 74.5 73.5 72.6 | 74.1 2002 | 73.1 73.0 73.5 73.7 74.1 75.0 74.7 74.8 74.9 74.6 74.9 74.6 | 73.2 74.3 74.8 74.7 | 74.2 2003 | 74.9 74.9 75.0 74.2 74.2 74.4 74.6 74.1 74.7 74.6 75.4 75.2 | 74.9 74.3 74.4 75.1 | 74.7 2004 | 75.2 75.7 75.6 76.0 76.6 76.1 76.8 77.1 77.1 77.8 77.7 78.2 | 75.5 76.2 77.0 77.9 | 76.7 2005 | 78.6 79.1 78.6 78.7 78.8 78.8 78.4 78.4 77.2 78.2 78.7 78.6 | 78.8 78.8 78.0 78.5 | 78.5 | | | 2006 | 79.1 78.7 78.5 78.7 78.2 78.3 77.9 78.2 78.0 77.6 77.5 78.6 | 78.7 78.4 78.0 77.9 | 78.3 2007 | 78.0 78.2 78.6 78.9 78.9 79.2 79.3 78.8 79.1 78.5 78.7 78.7 | 78.3 79.0 79.1 78.7 | 78.7 2008 | 78.3 77.7 77.4 76.4 76.0 75.6 74.8 74.0 71.4 71.2 69.8 67.7 | 77.8 76.0 73.4 69.6 | 74.2 2009 | 65.8 65.7 64.5 64.1 63.5 63.5 64.5 65.3 66.0 66.2 67.0 67.1 | 65.3 63.7 65.3 66.8 | 65.3 2010 | 67.9 67.8 68.8 69.5 70.7 70.9 71.6 71.8 71.9 72.1 72.2 72.5 | 68.2 70.4 71.7 72.3 | 70.6 | | | 2011 | 72.7 72.7 73.4 72.9 73.1 73.2 73.9 74.0 74.3 74.7 74.6 75.0 | 72.9 73.1 74.1 74.7 | 73.7 2012 | 75.7 76.1 75.6 76.1 75.7 75.9 76.1 75.6 75.5 75.0 75.9 76.4 | 75.8 75.9 75.7 75.8 | 75.8 2013 | 76.1 76.5 76.4 76.1 76.1 76.3 75.8 76.3 76.4 76.5 76.6 76.7 | 76.3 76.2 76.2 76.6 | 76.3 2014 | 75.8 76.7 77.0 | 76.5 | ------------------------------------------------------------------------------------------------------------------------------------------- <1> See note on cover page. <2> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages. Note. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components. Explanatory Note 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, 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 from the Data Download Program on the Board's website. Instructions for searching for and downloading specific series are provided as well. Industrial Production Coverage. The industrial production (IP) index measures the real output of all manufacturing, mining, and electric and gas utility establishments located in the United States, regardless of their ownership, but not those located in U.S. territories; the reference period for the index is 2007. 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 2007 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). 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. 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 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 shown below. An output index for month m is denoted by I^A_m for aggregate A and I_m for each of its components. The monthly price measure in the formula (p_m) is interpolated from an annual series of value added divided by the average annual IP index. % Equation not available in ascii file. 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 6 percent. If output in this industry increased 10 percent in a month, then this gain would boost growth in total IP by 6/10 percentage point (0.06 x 10% = 0.6%). 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). 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 67 percent of the source data (in value-added terms) are available; the fraction of available source data increases to 81 percent for estimates in the second month that the estimate is published, 93 percent in the third month, 96 percent in the fourth month, 99 percent in the fifth month, and 99 percent in the sixth month. Data availability by data type in early 2011 is summarized in the table below: Availability of Monthly IP Data in Publication Window (Percent of value added in 2011) % Type of data 1st 2nd 3rd 4th 5th 6th Physical product 27 41 53 55 58 58 Production-worker hours 41 41 41 41 41 41 IP data received 67 81 93 96 99 99 IP data estimated 33 19 7 4 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 (27 percent out of a total of 58 percent). Of the 27 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 January 2013; for other series, the factors were estimated with data through at least December 2012. 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. Reliability. The average revision to the level of the total IP index, without regard to sign, between the first and the fourth estimates was 0.27 percent during the 1987-2010 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 1987-2010 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. 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. Capacity Utilization 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. Coverage. The capacity indexes cover all facilities located in the United States, regardless of their ownership, but not those located in U.S. territories. Capacity indexes are constructed for 89 detailed industries (71 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. 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). 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. 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 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. Perspective. Over the 1972-2012 period, the average total industry utilization rate is 80.2 percent; for manufacturing, the average factory operating rate has been 78.7 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 are specific to each series and do not all occur in the same month. References and Release Dates References. The release for the annual revision that was published on March 22, 2013 is available on the Board's website (www.federal reserve.gov/releases/g17/revisions/Current/DefaultRev.htm). 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. 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, August 2009) or in an on-line staff study (www.federalreserve.gov/releases/g17/articles/rev2010/industrial10.pdf). Release Schedule At 9:15 a.m. on 2014: January 17, February 14, March 17, April 16, May 15, June 16, July 16, August 15, September 15, October 16, November 17, and December 15.