FEDERAL RESERVE STATISTICAL RELEASE G.17 (419) For release at 9:15 a.m. (EDT) October 16, 2001 INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Industrial production fell 1.0 percent in September, its twelfth consecutive monthly decline. At 140.3 percent of its 1992 average, output was 5.8 percent below its level in September 2000. For the third quarter as a whole, total industrial production declined at an annual rate of 6.2 percent. Manufacturing output contracted 1.1 percent in September and was 6.7 percent below its year-ago level. Utilities production fell 1.8 percent in September, and mining output increased 0.3 percent. The rate of capacity utilization for total industry sank 0.9 percentage point, to 75.5 percent, a level 6.6 percentage points below its 1967-2000 average and about 7 percentage points below its level in September 2000. Market Groups ------------- The output of consumer goods fell 0.7 percent in September; for the third quarter as a whole, production dropped 3.2 percent at an annual rate, the largest quarterly decline since the first quarter of 1991. Both durable and nondurable consumer goods fell in September. Among durables, home electronics dropped 3.0 percent and was 19.1 percent below its level in September 2000. The output of automotive products also fell about 3 percent, while the other major categories of consumer durables registered smaller declines. Nondurable consumer goods, which slipped 0.3 percent, showed declines in all categories except paper products, which increased 0.4 percent. The production of business equipment dropped 2.3 percent in September; for the third quarter as a whole, it tumbled 13.4 percent at an annual rate, its largest quarterly decline since the fourth quarter of 1982. All major categories declined in September; the output indexes for transit equipment and for industrial and other equipment have contracted nearly 12 percent in the past twelve months. The production of defense and space equipment, which ticked up 0.2 percent in September, was 3.6 percent above its September 2000 level. The output of construction supplies decreased 0.6 percent in September, while the output of business supplies fell 1.5 percent; a sharp cutback in jet fuel production, which was related to the reduction in air traffic, contributed importantly to the drop for business supplies. The production of industrial materials declined 0.9 percent, with a large drop in durable goods materials and little change, on balance, in either nondurable or energy materials. For the third quarter as a whole, production of industrial materials fell at an annual rate of 6.4 percent. Industry Groups --------------- Manufacturing output fell 1.1 percent in September and the weakness was widespread among industries. In the third quarter, manufacturing declined at an annual rate of 6.6 percent, after having fallen at a 5.1 percent rate in the second quarter. The overall production both of durable and nondurable goods decreased in the third quarter; output rose during the quarter in only two industries--motor vehicles and parts and lumber and products. Among durable goods, the largest third-quarter declines were in machinery, especially the high-technology industries (computers, communications equipment, and semiconductors). Also down notably were furniture and fixtures, primary metals, aerospace and miscellaneous transportation equipment, and miscellaneous manufacturing. Among nondurables, declines were largest in apparel products, textile mill products, petroleum products, printing and publishing, and paper and products. In September, all major industry groups in manufacturing were below year-ago levels. The overall factory operating rate declined about 1 percentage point, to 73.8 percent, a level 7.3 percentage points below the 1967-2000 average. A 0.3 percent increase in the production at mines retraced the August decline; the utilization rate at mines rose 0.3 percentage point, to 89.3 percent, a level about 2 percentage points above its 1967-2000 average. The output of utilities fell back 1.8 percent in September; at 85.7 percent, the operating rate at utilities was about 2 percentage points below its long-term average. Revision of Industrial Production and Capacity Utilization On November 27, the Federal Reserve Board will publish revisions to the index of industrial production (IP), to the related measures of capacity and capacity utilization, and to the index of industrial use of electric power. The updated measures will reflect the incorporation of newly available, more comprehensive source data typical of annual revisions. The new source data are for recent years, primarily 1999 and 2000, although data from 1992 onward will be subject to revision. Industrial production and capacity utilization will continue to be based on the 1987 Standard Industrial Classification (SIC) until the 2002 annual revision, after which they will be constructed from the North American Industrial Classification System (NAICS). The new NAICS-related production indexes will be based on annual output measures that are constructed by reclassifying the establishments in historical Censuses of Manufactures and Mineral Industries under NAICS; annual output indexes constructed this way will maximize the reliability and historical consistency of the IP industry detail. The updating of source data for IP in the 2001 annual revision will include annual data from the 1999 Bureau of the Census Annual Survey of Manufactures and from selected editions of its 1999 and 2000 Current Industrial Reports. Annual data from the U.S. Geological Survey regarding metallic and nonmetallic minerals (except fuels) for 1999 and 2000 will also be introduced. The updating will include revisions to the monthly indicator for each industry (either physical product data, production-worker hours, or electric power usage) and to seasonal factors. Capacity and capacity utilization will be revised to incorporate preliminary data from the 2000 Survey of Plant Capacity of the Bureau of the Census, which covers manufacturing, along with other new data on capacity from the U.S. Geological Survey, the Department of Energy, and other organizations. The statistics on the industrial use of electric power will incorporate additional information received from utilities for the past few years and will include some data from the 1997 Census of Manufactures and the 1998 and 1999 Annual Survey of Manufactures. Once the revision is published, it will be made available on the Board's web site (www.federalreserve.gov/releases/g17). The revised data will also be available through the web site of the Department of Commerce. Further information on these revisions is available from the Board's Industrial Output Section (telephone 202-452-3197). INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY Seasonally adjusted ----------------------------------------------------------------------------------------------------------------------------------- | 1992=100 | Percent change | ----------------------------------------------- | ------------------------------------------------- | 2001 | 2001 | Sept. '00 to Industrial production | June July Aug. Sept. | June July Aug. Sept. | Sept. '01 ----------------------------------------------------------------------------------------------------------------------------------- | | | Total index | 142.8 142.7 141.8 140.3 | -1.0 -.1 -.7 -1.0 | -5.8 Previous estimates | 142.7 142.6 141.5 | -1.0 -.1 -.8 | | | | Major market groups: | | | Products, total | 132.4 132.5 131.3 129.9 | -.9 .0 -.8 -1.1 | -5.0 Consumer goods | 121.6 121.9 120.9 120.1 | -.5 .2 -.8 -.7 | -3.0 Business equipment | 187.1 186.7 184.8 180.5 | -2.5 -.2 -1.0 -2.3 | -9.5 Construction supplies | 139.0 139.0 138.5 137.6 | -.2 .0 -.4 -.6 | -3.9 Materials | 161.4 161.1 160.5 159.2 | -1.1 -.2 -.4 -.9 | -7.1 | | | Major industry groups: | | | Manufacturing | 147.5 147.6 146.3 144.7 | -1.2 .1 -.9 -1.1 | -6.7 Durable | 186.9 187.6 185.7 182.5 | -1.7 .3 -1.0 -1.8 | -8.0 Nondurable | 111.5 111.3 110.5 110.1 | -.6 -.2 -.7 -.3 | -5.0 Mining | 103.4 102.3 102.0 102.3 | -.4 -1.0 -.3 .3 | 1.8 Utilities | 119.9 119.0 121.3 119.1 | .3 -.7 1.9 -1.8 | -2.1 ----------------------------------------------------------------------------------------------------------------------------------- | | Capacity | Percent of capacity | growth | --------------------------------------------------------------------------------- | --------------- | Average 1982 1988-89 2000 | 2001 | Sept. '00 to Capacity utilization | 1967-2000 Low High Sept. | June July Aug. Sept. | Sept. '01 ----------------------------------------------------------------------------------------------------------------------------------- | | | Total industry | 82.1 71.1 85.4 82.4 | 77.1 77.0 76.4 75.5 | 2.9 Previous estimates | | 77.1 76.9 76.2 | | | | Manufacturing | 81.1 69.0 85.7 81.7 | 75.6 75.5 74.8 73.8 | 3.2 Advanced processing | 80.6 71.0 84.2 80.2 | 76.1 76.0 75.3 74.3 | 2.0 Primary processing | 82.2 65.7 88.3 85.2 | 75.8 75.6 74.8 74.0 | 5.4 Mining | 87.4 80.3 88.0 86.4 | 90.0 89.2 89.0 89.3 | -1.4 Utilities | 87.6 75.9 92.6 91.0 | 87.2 86.3 87.6 85.7 | 3.9 ----------------------------------------------------------------------------------------------------------------------------------- Note: Estimates for September are preliminary. Estimates from June to August are revised. Table 1 Industrial Production: Market and Industry Group Summary Percent change, seasonally adjusted ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Fourth quarter to | | | | | fourth quarter | Annual rate | Monthly rate | | |---------------------|----------------------------|----------------------------| Sept. '00 | 2000 | | 2000 2001 | 2001 | to Item |Proportion<1>| 1998 1999 2000 | Q4 Q1 Q2 r Q3 | June July Aug. Sept. | Sept. '01 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | Total IP | 100.00 | 3.2 5.1 4.2 | -.9 -6.8 -4.4 -6.2 | -1.0 -.1 -.7 -1.0 | -5.8 | | | | | MARKET GROUPS | | | | | Products | 60.78 | 3.2 3.4 3.0 | -.5 -4.2 -4.2 -6.1 | -.9 .0 -.8 -1.1 | -5.0 Consumer goods | 28.73 | .2 3.1 .6 | -2.4 -1.8 -.7 -3.2 | -.5 .2 -.8 -.7 | -3.0 Durable | 6.10 | 4.3 8.2 -4.4 | -13.1 -9.6 8.5 .3 | -1.0 2.2 -2.0 -2.1 | -7.1 Automotive products | 2.88 | 5.4 3.3 -6.9 | -21.9 -13.1 25.6 13.5 | -.5 6.0 -3.3 -2.8 | -5.9 Home electronics | .45 | 11.7 53.3 2.8 | 17.4 -37.7 -10.3 -20.3 | -4.6 -5.0 2.3 -3.0 | -19.1 Appliances, furniture, carpeting | 1.37 | 6.9 6.0 -1.3 | -6.2 3.3 -4.7 -7.8 | -1.0 -2.4 1.5 -.3 | -5.3 Miscellaneous goods | 1.41 | -2.5 4.6 -4.2 | -9.7 -3.8 -2.6 -11.0 | -1.0 .7 -3.6 -1.9 | -7.9 | | | | | Nondurable | 22.63 | -1.0 1.6 2.0 | .6 .3 -2.9 -4.1 | -.4 -.3 -.5 -.3 | -1.9 Non-energy | 19.19 | -.5 1.5 1.2 | -1.0 .8 -1.7 -4.5 | -.5 -.2 -.7 -.3 | -1.7 Foods and tobacco | 9.97 | .6 .2 .9 | -2.0 -.1 -1.6 -4.3 | .1 -.3 -.9 -.2 | -2.0 Clothing | 1.39 | -8.1 -4.9 -4.4 | -7.0 -1.3 -14.8 -19.2 | -3.6 .3 -2.8 -1.9 | -11.6 Chemical products | 4.95 | 3.3 5.8 2.5 | 1.2 5.5 3.0 -1.7 | -1.1 -.1 .1 -.4 | 1.7 Paper products | 2.88 | -5.4 2.6 3.1 | 1.5 -3.2 -3.6 -3.1 | -.2 -.1 -.7 .4 | -2.1 Energy | 3.44 | -4.1 2.5 6.7 | 10.0 -2.3 -9.1 -2.2 | .6 -.6 .8 -.6 | -2.6 | | | | | Business equipment | 14.25 | 9.1 5.7 11.0 | 5.2 -7.5 -10.4 -13.4 | -2.5 -.2 -1.0 -2.3 | -9.5 Transit | 2.60 | 12.9 -8.9 -8.8 | -20.5 -17.5 7.4 -3.6 | -.9 2.1 -2.8 -2.5 | -11.8 Information processing | 5.92 | 16.8 21.0 23.1 | 18.5 -3.6 -11.1 -15.1 | -2.6 -1.6 .0 -1.4 | -6.4 Industrial and other | 5.73 | -.1 -1.5 8.6 | 4.4 -7.4 -16.3 -15.6 | -3.1 .2 -1.2 -3.1 | -11.8 | | | | | Defense and space equipment | 1.94 | 8.2 -3.1 -3.3 | 3.6 5.7 -3.1 -2.0 | -.5 1.3 -1.5 .2 | 3.6 | | | | | Construction supplies | 6.13 | 7.6 4.5 .3 | -4.7 -3.1 -3.0 -2.7 | -.2 .0 -.4 -.6 | -3.9 Business supplies | 9.02 | 1.8 2.3 1.3 | -.5 -10.3 -7.5 -6.3 | -.6 -.5 -.7 -1.5 | -7.2 | | | | | Materials | 39.22 | 3.7 8.0 6.2 | -1.6 -10.6 -4.7 -6.4 | -1.1 -.2 -.4 -.9 | -7.1 Durable | 22.78 | 7.2 10.9 12.1 | -1.0 -12.4 -4.9 -7.4 | -1.4 .0 -.7 -1.6 | -8.7 Consumer parts | 4.49 | .1 7.1 .2 | -6.0 -28.2 17.4 .0 | -1.5 1.4 -.4 -3.1 | -9.8 Equipment parts | 8.68 | 20.5 22.0 36.1 | 11.5 -4.8 -16.0 -13.4 | -2.1 -.8 -.9 -1.4 | -8.5 Other | 9.61 | -.6 3.4 -1.7 | -9.8 -11.9 -3.2 -5.2 | -.8 -.1 -.6 -1.0 | -8.6 | | | | | Nondurable | 8.38 | -2.8 5.6 -5.2 | -7.7 -15.1 -10.2 -5.0 | -.6 .0 -.2 -.1 | -9.4 Textile | .73 | -8.5 -1.2 -9.7 | -23.8 -10.8 -17.7 -14.0 | -.4 -4.4 3.5 -.8 | -14.6 Paper | 1.53 | -2.9 4.2 -4.5 | -1.8 -12.6 -4.9 -.7 | -3.4 2.2 1.1 .1 | -4.6 Chemical | 4.31 | -4.0 9.4 -6.2 | -11.7 -18.5 -15.5 -6.1 | .8 -.7 -1.1 .1 | -13.0 | | | | | Energy | 8.06 | -.7 .5 1.4 | 3.1 -.6 1.5 -5.2 | -.9 -.7 .3 .2 | -.6 | | | | | | | | | | INDUSTRY GROUPS | | | | | Manufacturing | 87.40 | 4.0 5.6 4.3 | -1.6 -7.9 -5.1 -6.6 | -1.2 .1 -.9 -1.1 | -6.7 Durable | 47.81 | 8.0 8.2 8.4 | -.4 -9.6 -5.2 -7.8 | -1.7 .3 -1.0 -1.8 | -8.0 Lumber and products 24 | 1.82 | 5.4 .5 -7.3 | -12.4 -12.0 12.6 7.9 | -.1 .7 .2 .8 | -.9 Furniture and fixtures 25 | 1.61 | 6.2 3.1 5.6 | 4.2 -5.6 -4.7 -11.1 | -2.4 .0 -1.4 -1.8 | -7.5 Stone, clay, and glass products 32 | 2.38 | 5.6 2.3 .9 | -4.3 -.6 -4.1 -4.1 | -1.7 .1 -.5 .2 | -3.5 Primary metals 33 | 3.32 | -3.4 8.0 -5.6 | -16.5 -18.9 3.9 -6.8 | -.6 .5 -1.4 -2.7 | -12.4 Fabricated metals 34 | 5.49 | 1.5 1.6 1.0 | -4.6 -9.5 -8.3 -5.3 | -1.4 .8 -.7 -1.8 | -8.2 Industrial machinery and equipment 35 | 9.06 | 11.6 13.6 14.4 | 7.4 -8.2 -15.6 -15.5 | -2.5 -.6 -.5 -2.8 | -11.3 Electrical machinery 36 | 9.02 | 20.4 25.2 39.0 | 16.7 -7.1 -19.0 -17.7 | -2.4 -2.2 -.3 -1.8 | -10.7 Motor vehicles and parts 371 | 5.72 | 3.3 5.9 -6.4 | -23.6 -27.2 37.4 8.6 | -1.3 4.8 -3.0 -3.6 | -10.3 Aerospace and miscellaneous | | | | | transportation equipment 372-6,9 | 3.52 | 10.4 -11.6 -.4 | 5.4 -3.0 -3.4 -6.8 | -.9 .1 -1.0 -.7 | -1.3 Instruments 38 | 4.54 | 3.9 4.5 1.9 | 1.8 -.3 -5.7 -3.2 | -1.9 .9 -.3 .1 | -2.4 Miscellaneous 39 | 1.31 | .7 6.6 .0 | -3.1 -5.2 -2.7 -6.5 | 1.0 .7 -3.6 -.5 | -5.6 | | | | | Nondurable | 39.59 | -.4 2.5 -.7 | -3.0 -5.9 -4.9 -5.3 | -.6 -.2 -.7 -.3 | -5.0 Food and tobacco products 20,21 | 10.52 | .8 .3 .8 | -2.0 -.2 -2.0 -3.8 | .0 -.3 -.8 -.2 | -2.0 Textile mill products 22 | 1.23 | -6.5 -.2 -7.9 | -18.8 -8.2 -16.4 -14.2 | .4 -3.9 2.3 -.9 | -13.2 Apparel products 23 | 1.41 | -6.3 -4.0 -5.3 | -8.0 -.8 -7.0 -16.6 | -3.1 .8 -3.7 -1.9 | -9.3 Paper and products 26 | 3.30 | -.1 3.0 -3.1 | 3.2 -13.4 1.2 -7.4 | -1.9 .9 -1.2 .3 | -4.3 Printing and publishing 27 | 6.58 | -1.8 1.8 1.5 | .8 -10.0 -10.2 -7.7 | -1.2 -.6 -.4 -.7 | -7.8 Chemicals and products 28 | 10.33 | .2 6.7 -1.3 | -2.8 -8.2 -6.2 -2.3 | -.6 .1 -.5 .0 | -5.1 Petroleum products 29 | 2.39 | 2.1 .2 1.2 | -4.5 -1.7 3.5 -8.5 | .4 -.9 -1.8 -.8 | -4.0 Rubber and plastics products 30 | 3.65 | 1.6 3.6 -1.9 | -9.7 -4.9 -5.6 -1.4 | .3 -.1 -.4 -.2 | -5.1 | | | | | Mining 10-14 | 6.69 | -5.3 -.5 1.3 | -1.5 6.0 7.5 -5.3 | -.4 -1.0 -.3 .3 | 1.8 Utilities 491,2,3pt | 5.91 | -1.4 2.3 6.5 | 9.3 -3.4 -7.9 -1.0 | .3 -.7 1.9 -1.8 | -2.1 Electric | 4.45 | 1.6 1.7 6.3 | 12.1 -6.6 .5 -4.2 | -.5 -.9 2.5 -2.7 | -1.4 Gas | 1.46 | -11.9 4.6 7.5 | .7 7.2 -29.3 9.3 | 2.9 -.2 -.1 .8 | -4.4 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. Under industry groups, the figures to the right of the series descriptions are 1987 Standard Industrial Classification (SIC) codes. The abbreviation pt denotes part of an SIC code. Additional industry detail is available on the Board's web site (www.federalreserve.gov/releases/G17). Under market groups, in the products category, 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. Under industry groups, in the nondurables category, leather and products is not shown separately. Estimates for the month of September are preliminary. Estimates from June to August are revised. 1. The proportion data are estimates of the relative contribution of each series to the growth of total industrial production in the following year. Table 2 Industrial Production: Special Aggregates and Selected Detail Percent change, seasonally adjusted ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Fourth quarter to | | | | | fourth quarter | Annual rate | Monthly rate | | |---------------------|----------------------------|----------------------------| Sept. '00 | 2000 | | 2000 2001 | 2001 | to Item | Proportion| 1998 1999 2000 | Q4 Q1 Q2 r Q3 | June July Aug. Sept. | Sept. '01 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | Total industry | 100.00 | 3.2 5.1 4.2 | -.9 -6.8 -4.4 -6.2 | -1.0 -.1 -.7 -1.0 | -5.8 | | | | | Energy | 13.92 | -3.1 1.2 4.1 | 4.2 -.2 -.2 -4.2 | -.2 -.8 .3 -.5 | -.8 Consumer products | 3.44 | -4.1 2.5 6.7 | 10.0 -2.3 -9.1 -2.2 | .6 -.6 .8 -.6 | -2.6 Commercial products | 1.90 | -.5 1.0 7.2 | -2.7 -3.5 7.6 1.4 | 1.9 -1.4 .3 -2.9 | -.5 Oil and gas well drilling | .52 | -26.3 5.6 18.9 | 8.5 33.3 7.8 -19.4 | -1.2 -1.8 -3.2 -2.6 | 4.9 Converted fuel | 2.28 | -.2 2.8 5.2 | 12.9 -15.5 -3.7 -13.4 | -4.0 -.5 .4 -.1 | -7.4 Primary materials | 5.78 | -1.0 -.7 -.2 | -.6 5.9 3.4 -2.1 | .2 -.7 .2 .3 | 2.1 | | | | | Non-energy | 86.08 | 4.1 5.6 4.2 | -1.8 -7.8 -5.1 -6.6 | -1.2 .1 -.8 -1.1 | -6.6 | | | | | Selected high-technology industries | 8.47 | 37.2 40.6 55.3 | 25.2 -6.1 -20.8 -21.0 | -2.5 -2.1 -1.0 -2.4 | -11.3 Computers and office equipment 357 | 2.37 | 54.0 54.3 42.0 | 24.8 -3.5 -12.8 -14.3 | -1.7 -.8 -.5 -2.5 | -7.3 Communications equipment 366 | 1.94 | 9.0 13.4 35.5 | 30.2 -1.7 -17.1 -24.8 | -1.9 -3.7 -.9 -2.3 | -9.0 Semiconductors and related | | | | | electronic components 3672-9 | 4.16 | 45.7 47.8 73.4 | 23.3 -9.6 -26.9 -22.8 | -3.3 -2.0 -1.3 -2.3 | -14.5 | | | | | Excluding selected high-technology | | | | | industries | 77.61 | 1.2 2.3 -.7 | -4.7 -8.1 -3.1 -5.0 | -1.0 .3 -.8 -1.0 | -6.3 | | | | | Motor vehicles and parts 371 | 5.72 | 3.3 5.9 -6.4 | -23.6 -27.2 37.4 8.6 | -1.3 4.8 -3.0 -3.6 | -10.3 Motor vehicles 3711,3 | 3.10 | 6.9 2.1 -12.3 | -33.7 -17.7 37.1 12.3 | -1.8 7.9 -5.3 -3.9 | -10.5 Motor vehicle parts 3714 | 2.48 | -1.6 10.8 3.3 | -7.1 -35.6 39.5 5.3 | -1.2 1.8 -.6 -3.2 | -8.7 | | | | | Excluding motor vehicles and parts | 71.88 | 1.1 2.0 -.2 | -3.1 -6.5 -5.6 -6.0 | -1.0 -.1 -.6 -.8 | -5.9 Consumer goods | 22.73 | -.4 2.5 .4 | -1.7 -.1 -1.8 -5.1 | -.6 -.3 -.8 -.4 | -2.5 Business equipment | 9.48 | 3.3 -2.4 5.3 | 3.8 -8.3 -12.4 -12.4 | -3.0 .0 -.5 -2.1 | -9.5 Business supplies | 7.13 | 2.3 2.6 -.1 | .1 -12.1 -11.4 -8.5 | -1.3 -.2 -1.0 -1.0 | -9.1 Materials | 24.30 | -1.0 3.3 -2.3 | -7.4 -11.4 -5.8 -4.8 | -.8 .1 -.4 -.7 | -8.0 | | | | | Measures excluding selected high-technology | | | | | industries | | | | | Total industry | 91.53 | .7 2.2 .0 | -3.4 -6.9 -2.7 -4.9 | -.9 .1 -.6 -.9 | -5.4 Manufacturing | 78.92 | 1.2 2.3 -.5 | -4.5 -8.2 -3.2 -5.1 | -1.0 .3 -.9 -1.0 | -6.3 Durable | 39.34 | 2.7 2.2 -.4 | -5.9 -10.5 -1.3 -4.9 | -1.5 .8 -1.0 -1.6 | -7.6 Industrial machinery 351-6,8,9 | 6.69 | .5 1.2 4.9 | .9 -10.1 -16.5 -15.9 | -2.7 -.5 -.4 -2.9 | -12.7 Electrical machinery 361-5,9,71 | 2.92 | -.3 6.5 .1 | -1.7 -7.0 -8.1 -5.7 | -1.5 -1.5 1.3 -.9 | -7.2 | | | | | Measures excluding motor vehicles and parts | | | | | Total industry | 94.28 | 3.2 5.0 4.9 | .6 -5.5 -6.3 -7.0 | -1.0 -.3 -.5 -.9 | -5.5 Manufacturing | 81.67 | 4.1 5.5 5.0 | .1 -6.6 -7.3 -7.6 | -1.1 -.2 -.7 -.9 | -6.4 Durable | 42.09 | 8.7 8.5 10.5 | 3.1 -7.2 -9.5 -9.8 | -1.7 -.3 -.7 -1.5 | -7.8 | | | | | Primary processing 1 | 34.36 | 4.3 8.8 5.6 | -3.6 -13.0 -5.2 -6.4 | -.9 .0 -.9 -.9 | -8.4 Advanced processing 2 | 53.04 | 3.9 3.7 3.4 | -.2 -4.6 -5.0 -6.8 | -1.3 .1 -.9 -1.2 | -5.5 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. See notes to table 1. Estimates for the month of September are preliminary. Estimates from June to August are revised. 1. Primary processing consists of textile mill products, paper and products, industrial chemicals, synthetic materials, and fertilizers, petroleum products, rubber and plastics products, lumber and products, primary metals, fabricated metals, stone, clay and glass products, semiconductors and related electronic components, and motor vehicle parts. 2. Advanced processing consists of foods, tobacco products, apparel products, printing and publishing, chemical products and other agricultural chemicals, leather and products, furniture and fixtures, industrial machinery and equipment, electrical machinery except semiconductors and related electronic components, transportation equipment except motor vehicle parts, instruments, and miscellaneous manufacturers. Table 3 Motor Vehicle Assemblies Millions of units, seasonally adjusted annual rate ------------------------------------------------------------------------------------------------------------------------------- | 2000 | 2000 2001 | 2001 Item | Average| Q4 Q1 Q2 Q3 | June July Aug. Sept. ------------------------------------------------------------------------------------------------------------------------------- Total | 12.77 | 11.63 10.92 11.70 11.64 | 11.72 12.05 11.63 11.23 Autos | 5.54 | 5.00 4.96 5.10 4.70 | 5.11 4.86 4.62 4.64 Trucks | 7.23 | 6.63 5.97 6.60 6.93 | 6.61 7.20 7.01 6.59 Light | 6.84 | 6.32 5.69 6.33 6.69 | 6.34 6.93 6.75 6.37 Medium and heavy | .39 | .31 .27 .27 .25 | .27 .26 .26 .22 | | | Memo: | | | Autos and light trucks | 12.38 | 11.32 10.65 11.43 11.39 | 11.45 11.79 11.37 11.01 ------------------------------------------------------------------------------------------------------------------------------- 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/G17/mvsf.htm Table 4 Industrial Production Indexes: Market and Industry Group Summary 1992 = 100, seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------------------------------- | 2000 | 2001 Item | Proportion| Jan. Feb. Mar. Apr. May June July Aug. Sept. --------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Total IP | 100.00 | 146.0 145.4 145.0 144.6 144.2 142.8 142.7 141.8 140.3 | | MARKET GROUPS | | Products | 60.78 | 135.0 134.6 134.5 133.8 133.7 132.4 132.5 131.3 129.9 Consumer goods | 28.73 | 121.8 122.3 122.4 122.1 122.2 121.6 121.9 120.9 120.1 Durable | 6.10 | 148.9 150.8 153.6 152.9 155.6 154.1 157.5 154.3 151.2 Automotive products | 2.88 | 133.8 138.2 145.4 145.1 148.7 148.0 156.9 151.7 147.5 Home electronics | .45 | 749.6 690.6 661.7 663.3 707.1 674.9 640.9 655.5 636.1 Appliances, furniture, carpeting | 1.37 | 132.1 135.8 135.1 132.7 133.4 132.1 128.9 130.8 130.4 Miscellaneous goods | 1.41 | 116.5 115.4 114.7 115.0 115.3 114.1 115.0 110.9 108.7 | | Nondurable | 22.63 | 114.9 115.3 114.8 114.6 114.2 113.8 113.5 112.9 112.5 Non-energy | 19.19 | 114.3 114.6 114.2 114.1 114.1 113.5 113.2 112.4 112.1 Foods and tobacco | 9.97 | 110.3 110.7 110.1 110.2 109.7 109.8 109.4 108.4 108.2 Clothing | 1.39 | 82.6 82.8 82.2 81.2 79.8 76.9 77.1 74.9 73.5 Chemical products | 4.95 | 139.1 141.5 141.5 140.9 143.0 141.4 141.3 141.4 140.8 Paper products | 2.88 | 113.7 111.1 110.9 111.5 110.7 110.5 110.4 109.6 110.1 Energy | 3.44 | 119.0 119.2 118.6 117.5 115.2 115.8 115.1 116.1 115.3 | | Business equipment | 14.25 | 197.4 195.3 195.6 193.3 191.9 187.1 186.7 184.8 180.5 Transit | 2.60 | 111.7 114.4 117.8 116.3 117.5 116.4 118.8 115.5 112.6 Information processing | 5.92 | 337.4 330.6 327.7 326.7 324.3 315.8 310.9 310.8 306.3 Industrial and other | 5.73 | 146.7 144.7 144.7 141.8 139.8 135.5 135.8 134.1 129.9 | | Defense and space equipment | 1.94 | 78.5 76.7 77.7 78.0 76.8 76.4 77.4 76.2 76.3 | | Construction supplies | 6.13 | 140.7 139.9 140.5 139.6 139.3 139.0 139.0 138.5 137.6 Business supplies | 9.02 | 118.4 117.0 114.9 114.3 114.9 114.3 113.7 113.0 111.3 | | Materials | 39.22 | 165.9 165.0 163.9 164.1 163.3 161.4 161.1 160.5 159.2 Durable | 22.78 | 226.6 225.2 223.6 223.0 223.6 220.3 220.2 218.7 215.3 Consumer parts | 4.49 | 146.1 149.9 153.1 153.6 158.2 155.9 158.0 157.3 152.4 Equipment parts | 8.68 | 517.5 514.9 508.2 498.3 493.7 483.1 479.4 475.1 468.6 Other | 9.61 | 130.1 127.2 125.5 126.9 127.0 126.0 125.8 125.1 123.9 | | Nondurable | 8.38 | 107.5 107.2 104.6 105.2 103.1 102.5 102.5 102.2 102.1 Textile | .73 | 91.0 87.7 87.4 86.3 83.7 83.4 79.7 82.5 81.9 Paper | 1.53 | 110.3 112.4 105.9 111.3 108.5 104.8 107.2 108.4 108.5 Chemical | 4.31 | 108.5 108.2 105.9 104.1 102.2 103.0 102.2 101.1 101.2 | | Energy | 8.06 | 104.4 103.9 104.9 105.8 104.8 103.8 103.2 103.5 103.6 | | | | INDUSTRY GROUPS | | Manufacturing | 87.40 | 151.3 150.7 150.0 149.6 149.2 147.5 147.6 146.3 144.7 Durable | 47.81 | 192.3 191.1 191.3 190.1 190.1 186.9 187.6 185.7 182.5 Lumber and products 24 | 1.82 | 108.3 109.1 111.4 110.9 114.0 113.8 114.6 114.9 115.8 Furniture and fixtures 25 | 1.61 | 144.1 143.8 143.2 142.5 143.5 140.0 140.1 138.1 135.6 Stone, clay, and glass products 32 | 2.38 | 135.2 134.3 134.3 133.3 134.3 132.0 132.1 131.5 131.7 Primary metals 33 | 3.32 | 124.0 121.3 117.8 122.4 122.5 121.8 122.3 120.6 117.3 Fabricated metals 34 | 5.49 | 133.5 130.3 129.8 129.3 128.8 127.1 128.0 127.1 124.8 Industrial machinery and equipment 35 | 9.06 | 258.4 255.0 255.7 251.0 246.1 240.0 238.6 237.5 230.8 Electrical machinery 36 | 9.02 | 604.3 593.7 581.0 569.9 565.8 552.3 540.1 538.5 528.8 Motor vehicles and parts 371 | 5.72 | 138.6 147.4 156.5 155.4 162.9 160.7 168.4 163.3 157.4 Aerospace and miscellaneous | | transportation equipment 372-6,9 | 3.52 | 94.3 93.5 94.3 94.1 93.2 92.4 92.4 91.5 90.9 Instruments 38 | 4.54 | 125.0 123.3 122.6 123.1 122.4 120.0 121.1 120.7 120.8 Miscellaneous 39 | 1.31 | 130.4 127.6 127.6 128.4 126.6 127.9 128.8 124.2 123.6 | | Nondurable | 39.59 | 114.0 114.0 112.7 112.8 112.2 111.5 111.3 110.5 110.1 Food and tobacco products 20,21 | 10.52 | 110.8 111.2 110.6 110.6 110.2 110.2 109.9 109.0 108.8 Textile mill products 22 | 1.23 | 93.0 92.7 92.4 90.7 87.4 87.7 84.3 86.2 85.4 Apparel products 23 | 1.41 | 88.9 88.7 88.4 88.2 87.9 85.2 85.9 82.7 81.1 Paper and products 26 | 3.30 | 111.8 112.8 107.7 113.7 110.9 108.8 109.8 108.5 108.8 Printing and publishing 27 | 6.58 | 109.6 107.7 106.2 105.6 105.3 104.0 103.4 102.9 102.2 Chemicals and products 28 | 10.33 | 121.8 122.6 121.2 120.1 120.2 119.5 119.6 119.0 119.0 Petroleum products 29 | 2.39 | 115.1 116.5 115.0 116.7 116.2 116.7 115.6 113.6 112.7 Rubber and plastics products 30 | 3.65 | 138.5 137.3 136.5 136.0 135.0 135.5 135.4 134.9 134.7 | | Mining 10-14 | 6.69 | 101.0 101.4 102.7 103.5 103.8 103.4 102.3 102.0 102.3 Utilities 491,2,3pt | 5.91 | 124.0 121.8 122.0 120.9 119.5 119.9 119.0 121.3 119.1 Electric | 4.45 | 126.7 123.9 125.5 127.2 125.0 124.4 123.2 126.4 123.0 Gas | 1.46 | 113.7 112.9 109.7 101.2 102.1 105.1 104.9 104.8 105.7 --------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. See notes to table 1. Estimates for September are preliminary. Estimates from June to August are revised. Table 5 Industrial Production Indexes: Special Aggregates 1992 = 100, seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------------------------------- | 2000 | 2001 Item | Proportion| Jan. Feb. Mar. Apr. May June July Aug. Sept. --------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Total industry | 100.00 | 146.0 145.4 145.0 144.6 144.2 142.8 142.7 141.8 140.3 | | Energy | 13.92 | 111.4 111.0 111.5 111.7 111.1 110.9 110.0 110.3 109.7 Consumer products | 3.44 | 119.0 119.2 118.6 117.5 115.2 115.8 115.1 116.1 115.3 Commercial products | 1.90 | 129.5 127.8 127.4 126.4 131.4 134.0 132.0 132.5 128.7 Oil and gas well drilling | .52 | 146.7 147.9 150.7 151.2 152.2 150.4 147.7 143.0 139.3 Converted fuel | 2.28 | 111.8 113.1 113.7 114.7 112.6 108.1 107.6 108.0 107.9 Primary materials | 5.78 | 100.3 99.3 100.4 101.2 100.5 100.8 100.0 100.3 100.6 | | Non-energy | 86.08 | 151.9 151.3 150.6 150.1 149.8 148.0 148.1 146.9 145.3 | | Selected high-technology industries | 8.47 | 1351.7 1334.1 1312.2 1283.1 1260.2 1228.4 1202.8 1190.9 1162.5 Computers and office equipment 357 | 2.37 | 1497.4 1484.2 1477.5 1464.4 1434.6 1410.1 1398.3 1391.5 1356.7 Communications equipment 366 | 1.94 | 403.2 393.0 388.2 384.2 376.6 369.4 355.7 352.5 344.3 Semiconductors and related | | electronic components 3672-9 | 4.16 | 2297.1 2275.5 2217.7 2138.2 2105.3 2035.2 1995.2 1968.3 1922.1 | | Excluding selected high-technology | | industries | 77.61 | 121.4 121.1 120.7 120.5 120.5 119.3 119.6 118.6 117.5 | | Motor vehicles and parts 371 | 5.72 | 138.6 147.4 156.5 155.4 162.9 160.7 168.4 163.3 157.4 Motor vehicles 3711,3 | 3.10 | 127.2 133.6 143.5 142.5 148.9 146.2 157.7 149.3 143.4 Motor vehicle parts 3714 | 2.48 | 159.8 172.2 180.3 179.9 189.6 187.3 190.7 189.6 183.5 | | Excluding motor vehicles and parts | 71.88 | 120.3 119.4 118.5 118.4 117.9 116.8 116.7 116.0 115.1 Consumer goods | 22.73 | 115.9 116.1 115.7 115.5 115.6 115.0 114.6 113.7 113.3 Business equipment | 9.48 | 137.6 135.6 135.3 133.7 132.7 128.8 128.8 128.2 125.5 Business supplies | 7.13 | 115.7 114.3 111.9 111.4 110.9 109.4 109.2 108.1 107.0 Materials | 24.30 | 120.4 118.9 117.2 117.9 117.1 116.1 116.2 115.7 114.9 | | Measures excluding selected high-technology | | industries | | Total industry | 91.53 | 120.1 119.7 119.5 119.4 119.2 118.2 118.3 117.6 116.5 Manufacturing | 78.92 | 121.1 120.8 120.4 120.3 120.2 119.0 119.3 118.3 117.1 Durable | 39.34 | 128.7 128.0 128.7 128.4 128.9 127.0 128.0 126.7 124.7 Industrial machinery 351-6,8,9 | 6.69 | 147.0 144.8 145.6 142.5 139.7 135.9 135.2 134.6 130.6 Electrical machinery 361-5,9,71 | 2.92 | 137.0 133.7 130.7 130.5 132.2 130.2 128.3 130.0 128.9 | | Measures excluding motor vehicles and parts | | Total industry | 94.28 | 146.5 145.4 144.5 144.1 143.4 141.9 141.4 140.7 139.5 Manufacturing | 81.67 | 152.2 151.1 149.8 149.3 148.5 146.8 146.4 145.4 144.1 Durable | 42.09 | 200.5 197.6 196.5 195.2 194.0 190.7 190.2 188.9 186.1 | | Primary processing | 34.36 | 173.5 173.1 171.1 171.3 170.6 169.0 169.0 167.5 165.9 Advanced processing | 53.04 | 139.0 138.4 138.3 137.5 137.3 135.6 135.7 134.6 133.0 --------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. See notes to table 2. Estimates for the month of September are preliminary. Estimates from June to August are revised. Table 6 Capacity Utilization Percent of capacity, seasonally adjusted ---------------------------------------------------------------------------------------------------------------------------------------------------- | | 1967- 1988- 1990- 1994-| | | 2000 | 2000 89 91 95| 2000 2001 | 2001 Item | Proportion| Ave. High Low High| Q4 Q1 Q2 r Q3 | June July Aug. Sept. ---------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | 100.00 | 82.1 85.4 78.1 84.4 | 81.3 79.2 77.8 76.3 | 77.1 77.0 76.4 75.5 | | | | Manufacturing | 88.70 | 81.1 85.7 76.6 84.0 | 80.3 77.9 76.4 74.7 | 75.6 75.5 74.8 73.8 | | | | Durable | 49.19 | 79.6 84.6 73.1 83.6 | 80.7 77.2 75.3 73.1 | 74.2 74.2 73.3 71.8 Lumber and products 24 | 1.89 | 82.6 93.6 75.5 89.4 | 76.3 73.7 75.8 77.2 | 76.4 76.9 77.0 77.6 Furniture and fixtures 25 | 1.65 | 81.3 86.6 72.5 83.9 | 80.0 78.2 76.9 74.4 | 75.7 75.7 74.5 73.1 Stone, clay, and glass products 32 | 2.31 | 78.9 83.5 69.7 86.8 | 84.0 83.4 82.1 80.8 | 81.2 81.1 80.6 80.7 Primary metals 33 | 3.13 | 81.6 92.7 73.7 95.4 | 83.1 78.8 79.6 78.3 | 79.4 79.8 78.7 76.5 Fabricated metals 34 | 5.85 | 77.9 82.0 71.9 85.2 | 75.7 73.4 71.5 70.3 | 70.7 71.1 70.5 69.2 Industrial machinery and equipment 35 | 9.34 | 81.4 85.4 72.3 87.3 | 82.5 79.5 75.3 71.4 | 73.2 72.5 72.0 69.7 Electrical machinery 36 | 9.26 | 81.4 84.0 75.0 90.1 | 87.1 80.0 72.8 67.6 | 70.7 68.6 67.9 66.2 Motor vehicles and parts 371 | 5.74 | 77.0 89.1 55.9 85.9 | 76.0 69.9 75.4 76.8 | 75.8 79.4 76.9 74.0 Aerospace and miscellaneous | | | | transportation equipment 372,6-9 | 4.01 | 75.2 87.3 60.7 85.3 | 72.8 72.3 71.7 70.3 | 71.0 71.0 70.2 69.7 Instruments 38 | 4.69 | 81.6 81.4 74.5 82.6 | 80.5 80.3 78.9 78.1 | 77.7 78.3 78.0 78.0 Miscellaneous 39 | 1.32 | 75.9 79.0 71.7 81.9 | 80.5 79.2 78.3 76.6 | 78.3 78.7 75.8 75.3 | | | | Nondurable | 39.52 | 83.2 87.3 79.7 85.6 | 79.7 78.5 77.6 76.5 | 77.1 77.0 76.4 76.2 Food and tobacco products 20,21 | 10.54 | 83.3 85.9 79.1 85.8 | 81.2 81.2 80.9 80.1 | 80.8 80.5 79.9 79.8 Textile mill products 22 | 1.26 | 85.5 90.4 77.7 92.6 | 77.1 76.0 73.3 71.3 | 72.8 70.2 72.0 71.6 Apparel products 23 | 1.64 | 80.6 85.1 70.7 85.9 | 69.4 69.6 68.5 65.6 | 67.1 67.7 65.2 64.0 Paper and products 26 | 3.18 | 88.7 93.5 83.1 91.6 | 83.3 80.1 80.2 78.5 | 78.4 79.1 78.1 78.3 Printing and publishing 27 | 6.59 | 85.4 91.7 77.8 87.7 | 82.0 79.9 77.7 76.1 | 77.0 76.5 76.2 75.6 Chemicals and products 28 | 10.56 | 79.3 86.2 74.2 84.2 | 75.5 73.8 72.7 72.3 | 72.4 72.5 72.2 72.2 Petroleum products 29 | 1.97 | 87.3 88.5 85.1 97.1 | 94.3 93.8 94.5 92.3 | 94.6 93.7 92.0 91.2 Rubber and plastics products 30 | 3.58 | 84.7 89.6 77.4 91.3 | 80.9 79.3 77.8 77.3 | 77.7 77.6 77.2 77.0 | | | | Mining | 5.96 | 87.4 88.0 82.0 91.0 | 86.6 88.2 90.1 89.2 | 90.0 89.2 89.0 89.3 Utilities | 5.33 | 87.6 92.6 83.0 93.5 | 92.0 90.4 87.7 86.5 | 87.2 86.3 87.6 85.7 | | | | Selected high-technology industries | 9.18 | 80.4 81.9 72.4 87.9 | 85.1 77.3 69.3 63.2 | 66.8 64.7 63.5 61.4 Computers and office equipment 357 | 2.79 | 81.2 86.9 66.9 91.4 | 78.2 73.7 68.6 64.0 | 66.6 65.4 64.4 62.2 Communications equipment 366 | 2.03 | 80.4 84.8 73.4 87.8 | 87.3 83.2 75.5 66.7 | 72.7 68.8 67.0 64.2 Semiconductors and related | | | | electronic components 3672-9 | 4.36 | 80.0 81.1 72.6 90.8 | 87.9 76.4 66.3 60.3 | 63.6 61.8 60.5 58.6 | | | | Measures excluding selected high-technology | | | | industries | | | | Total industry | 90.82 | 82.2 85.7 78.4 84.2 | 80.6 79.1 78.4 77.4 | 77.9 78.0 77.4 76.7 Manufacturing | 79.52 | 81.2 86.1 76.8 83.8 | 79.5 77.6 76.9 75.8 | 76.3 76.5 75.9 75.1 Industrial machinery 351-6,8,9 | 6.54 | 81.3 85.5 72.9 88.1 | 84.2 81.8 77.8 74.1 | 75.7 75.2 74.7 72.3 Electrical machinery 361-5,9,71 | 2.88 | 83.4 87.5 74.3 93.2 | 82.9 81.0 79.4 78.4 | 78.9 77.8 78.9 78.3 | | | | Primary processing | 33.89 | 82.2 88.3 76.7 88.7 | 82.7 78.4 76.6 74.8 | 75.8 75.6 74.8 74.0 Advanced processing | 54.81 | 80.6 84.2 76.6 82.3 | 79.5 78.2 76.9 75.2 | 76.1 76.0 75.3 74.3 ---------------------------------------------------------------------------------------------------------------------------------------------------- Note. See notes to table 2. Estimates for the month of September are preliminary. Estimates from June to August are revised. Table 7 Industrial Capacity Percent change ----------------------------------------------------------------------------------------------------------------------------------------------------- | Average annual rate | Fourth quarter to fourth quarter | Annual rate | Monthly rate |----------------------------|------------------------------------|----------------------------|-------------- | 1967- 1980- 1989- 1995-| | 2000 2001 | 2001 Item | 79 88 94 2001 | 1998 1999 2000 2001 | Q4 Q1 Q2 Q3 | Sept. ----------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | 3.5 2.2 2.2 4.9 | 6.5 4.6 4.6 2.4 | 4.6 3.7 2.5 1.8 | .1 | | | | Manufacturing | 3.7 2.5 2.5 5.5 | 7.2 5.1 5.0 2.7 | 5.1 4.1 2.8 1.9 | .1 | | | | Durable | 3.6 3.1 3.0 8.5 | 10.2 8.4 8.8 4.9 | 9.2 7.6 5.1 3.6 | .3 Nondurable | 3.9 1.8 2.0 1.9 | 4.1 1.3 .8 -.1 | .5 .1 -.1 -.2 | .0 | | | | Mining | .4 .2 -.6 -.3 | -.1 -1.5 -.8 -1.3 | -1.5 -1.7 -1.4 -1.2 | -.1 Utilities | 4.9 1.2 1.4 2.1 | 1.1 2.4 3.3 4.1 | 3.3 3.7 4.0 4.3 | .4 | | | | | | | | Selected high-technology industries | 11.3 15.9 13.5 38.9 | 39.5 37.8 47.6 21.5 | 50.9 37.7 22.7 14.1 | 1.0 Manufacturing ex. selected | | | | high-technology industries | 3.3 1.4 1.7 2.5 | 4.4 2.1 1.3 .6 | 1.0 .7 .5 .5 | .0 | | | | Primary processing | 3.8 1.6 3.3 7.6 | 9.4 4.9 8.0 4.2 | 9.5 7.6 4.4 2.5 | .2 Advanced processing | 3.7 3.1 2.1 4.0 | 5.7 5.2 3.0 1.8 | 2.4 2.1 1.9 1.7 | .1 ----------------------------------------------------------------------------------------------------------------------------------------------------- Table 8 Gross Value of Products Billions of 1996 dollars at annual rate, seasonally adjusted -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | 2000 2001 | 2001 Item | 1996 | 2000 | Q3 Q4 Q1 Q2 r Q3 | June July Aug. Sept. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | Products, total | 2,427.8 | 2,878.0 | 2,879.2 2,860.3 2,821.6 2,809.4 2,774.6 | 2,796.5 2,804.9 2,776.4 2,742.6 | | | | Final products | 1,862.5 | 2,216.7 | 2,217.1 2,202.4 2,175.9 2,170.2 2,142.0 | 2,157.1 2,167.3 2,142.4 2,116.2 | | | | Consumer goods | 1,225.0 | 1,342.8 | 1,347.1 1,332.9 1,321.1 1,327.7 1,321.4 | 1,325.7 1,333.5 1,320.3 1,310.5 Durable | 303.9 | 372.3 | 371.5 355.0 344.4 356.5 360.2 | 356.9 368.7 360.3 351.7 Automotive products | 162.6 | 195.0 | 195.3 181.9 175.0 186.8 193.6 | 187.6 200.5 193.1 187.1 Other durable goods | 141.3 | 177.9 | 176.7 175.0 171.6 170.3 165.7 | 169.6 166.3 166.4 164.2 Nondurable | 921.0 | 970.6 | 975.3 975.8 973.5 969.7 960.5 | 967.4 965.0 959.4 957.2 | | | | Equipment, total | 637.5 | 872.7 | 878.9 879.7 863.7 848.1 822.6 | 835.1 837.1 824.6 806.1 Business and defense | 610.2 | 850.4 | 856.4 859.2 842.9 825.7 800.6 | 812.2 814.7 802.8 784.4 Business | 538.6 | 788.7 | 800.3 802.2 784.5 767.4 742.2 | 754.2 755.9 745.0 725.8 Defense and space | 71.6 | 65.9 | 65.3 66.1 66.7 66.2 65.6 | 65.6 66.3 65.2 65.3 | | | | Intermediate products | 565.3 | 661.3 | 661.2 656.9 644.9 638.6 632.0 | 638.6 637.0 633.2 625.7 Construction supplies | 235.0 | 285.4 | 284.9 281.3 278.7 277.5 276.1 | 277.0 277.1 276.5 274.8 Business supplies | 330.3 | 375.6 | 375.9 375.2 365.9 360.8 355.6 | 361.3 359.6 356.5 350.7 Commercial energy products | 85.5 | 95.8 | 96.8 95.9 94.7 96.6 96.5 | 99.0 97.7 97.5 94.2 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Estimates for September are preliminary. Estimates from June to August are revised. Table 9 Diffusion Indexes of Industrial Production Percent ------------------------------------------------------------------------------------------------------- Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. ------------------------------------------------------------------------------------------------------- One Month Earlier 1999 53.6 56.5 55.4 59.4 55.1 50.7 58.2 55.8 48.6 64.5 53.3 59.8 2000 58.7 50.4 56.5 51.4 51.4 56.2 54.2 43.5 54.0 43.5 45.7 37.9 2001 46.7 41.8 41.7 44.9 42.4 37.0 43.5 35.9 Three Months Earlier 1999 52.9 56.9 56.5 56.5 55.8 58.0 56.2 63.4 58.0 62.0 58.3 62.7 2000 61.2 62.0 59.8 56.2 54.0 52.9 49.6 44.9 48.9 43.1 45.3 42.4 2001 38.9 36.8 37.7 39.9 39.9 38.0 38.0 34.1 Six Months Earlier 1999 59.1 53.3 56.2 54.3 58.0 59.8 60.1 60.1 61.6 67.4 62.7 62.7 2000 68.1 65.9 68.1 64.1 60.0 55.4 49.6 43.8 47.5 44.9 41.7 39.5 2001 40.9 38.0 35.1 33.3 34.4 35.1 34.4 33.3 ------------------------------------------------------------------------------------------------------- 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 10 Electric Power Use 1992 = 100 -------------------------------------------------------------------------------------------------------------------------------------------------- | | Seasonally adjusted | Not seasonally adjusted | 1992 |------------------------------------------|------------------------------------------ |Billion| 2001 | 2001 Item | KWH | Mar. Apr. May June July Aug. | Mar. Apr. May June July Aug. -------------------------------------------------------------------------------------------------------------------------------------------------- Total manufacturing and mining | 933.2 | 105.1 102.8 102.3 99.7 99.9 98.6 | 103.0 102.3 101.5 101.5 101.2 102.1 | | | Manufacturing | 853.2 | 105.7 103.3 102.7 99.8 100.1 98.9 | 103.5 102.8 101.9 101.7 101.7 102.7 Durable | 366.0 | 107.0 103.9 104.5 102.3 102.7 101.4 | 105.7 103.5 104.0 104.2 104.0 104.7 Nondurable | 487.2 | 104.7 102.8 101.2 97.7 97.9 96.9 | 101.7 102.2 100.2 99.8 99.9 101.1 | | | Mining | 80.1 | 97.0 96.5 96.9 98.6 97.4 94.7 | 97.2 95.9 95.4 97.7 93.9 92.9 | | | Total ex. nuclear nondefense | 908.9 | 107.0 104.5 105.1 103.3 103.3 101.9 | 104.2 103.4 104.2 105.3 105.0 105.8 Utility sales to industry | 835.5 | 104.8 102.7 101.7 100.1 100.6 99.3 | 102.9 102.6 101.5 101.4 100.9 101.9 Industrial generation | 97.7 | 104.9 102.6 102.0 103.7 103.1 102.1 | 105.7 99.0 100.5 101.9 105.6 104.7 -------------------------------------------------------------------------------------------------------------------------------------------------- Note. Additional industry detail is available on the Board's web site, www.federalreserve.gov/releases/G17/download.htm. Estimates for August are preliminary. Estimates from June to July are revised. 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) | | | 1979 | -.5 .8 .3 -.9 1.2 .0 -.7 -.4 .1 .4 -.5 -.2 | 2.2 1.1 -2.3 -.3 | 3.3 1980 | .5 .1 .0 -1.9 -2.5 -1.3 -.6 1.2 1.5 .7 1.6 .5 | .8 -15.0 -4.2 14.2 | -2.8 1981 | -.9 .5 .5 -.7 .8 .6 .9 -.4 -.8 -.8 -1.4 -1.1 | 1.9 2.2 4.1 -10.5 | 1.6 1982 | -1.6 2.2 -.7 -.9 -.8 -.3 -.8 -.5 -.7 -.8 -.3 -.8 | -6.4 -5.2 -7.3 -7.5 | -5.4 | | | 1983 | 2.1 -.2 1.0 1.3 1.2 .6 1.8 1.3 1.7 .8 -.1 .5 | 6.8 11.9 17.3 10.3 | 3.7 1984 | 2.1 -.2 1.1 .5 .6 .5 .2 .0 -.1 -.5 .1 -.4 | 11.1 7.2 2.6 -2.6 | 8.9 1985 | .4 .9 .3 .2 .2 -.2 -.4 .6 .6 -.9 .6 .7 | 3.0 2.8 .3 1.4 | 1.6 1986 | .6 -.7 -1.0 .8 -.2 -.3 .3 .3 -.1 .9 .5 .9 | 2.0 -1.7 .7 6.5 | 1.1 1987 | -.6 1.2 .4 .4 .4 .9 .6 .1 -.1 1.4 .3 .6 | 4.2 6.7 5.6 7.1 | 4.6 | | | 1988 | .1 .3 .0 .6 .1 .1 .7 .5 -.4 .3 .8 .5 | 3.2 3.1 3.9 3.6 | 4.5 1989 | .6 -.8 .9 .2 -.6 -.2 -1.0 .4 -.2 -.5 .4 .5 | 3.8 .5 -4.4 -.1 | 1.8 1990 | -.5 .5 .5 -.6 .4 .0 .0 .2 .1 -.6 -1.3 -.6 | 2.0 .6 1.0 -5.8 | -.2 1991 | -.5 -.8 -.9 .3 .8 1.2 .1 .1 1.0 -.1 -.1 -.6 | -8.3 1.5 6.2 1.1 | -2.0 1992 | .1 .5 .9 .7 .3 -.2 .7 -.3 .4 .7 .5 .0 | 1.0 6.5 2.4 5.0 | 3.1 | | | 1993 | .4 .5 .2 .3 -.5 .3 .2 -.2 1.1 .3 .4 .8 | 3.8 1.5 1.9 6.2 | 3.5 1994 | .2 .3 .8 .5 .8 .4 .6 .3 .1 .5 .7 1.0 | 5.5 7.7 5.8 6.3 | 5.4 1995 | .6 -.1 .2 -.2 .4 .4 -.4 1.3 .6 -.4 .3 .1 | 6.0 1.1 4.4 2.9 | 4.8 1996 | -.2 1.1 -.1 1.1 .8 .8 .0 .6 .5 .0 1.0 .4 | 2.8 9.2 5.4 5.3 | 4.6 1997 | .5 1.0 .2 .6 .3 .6 .7 .9 .6 .6 .6 .3 | 7.6 6.1 7.9 7.3 | 6.8 | | | 1998 | .4 .0 .3 .5 .4 -.7 -.1 2.1 -.3 .5 -.4 .1 | 3.6 3.0 3.4 2.9 | 4.9 1999 | .6 .3 .7 .1 .7 .2 .8 .4 .1 .8 .3 .7 | 3.9 4.9 5.8 5.7 | 4.2 2000 | .5 .5 .7 .7 .7 .5 -.2 .7 .2 -.2 -.3 -.6 | 6.7 7.9 3.5 -.9 | 5.6 2001 | -.9 -.4 -.3 -.3 -.3 -1.0 -.1 -.7 -1.0 | -6.8 -4.4 -6.2 | | | | IP | | | (1992=100) | | | 1999 | 135.9 136.3 137.3 137.4 138.4 138.6 139.7 140.3 140.4 141.5 141.9 142.8 | 136.5 138.1 140.1 142.1 | 139.6 2000 | 143.6 144.3 145.2 146.3 147.2 147.9 147.6 148.6 149.0 148.7 148.2 147.3 | 144.4 147.1 148.4 148.1 | 147.5 2001 | 146.0 145.4 145.0 144.6 144.2 142.8 142.7 141.8 140.3 | 145.5 143.9 141.6 | | | | Capacity | | | (percent of | | | 1992 output) | | | 1999 | 167.9 168.6 169.2 169.9 170.5 171.1 171.7 172.3 172.9 173.5 174.1 174.8 | 168.6 170.5 172.3 174.1 | 171.4 2000 | 175.4 176.1 176.7 177.4 178.1 178.7 179.4 180.1 180.7 181.4 182.1 182.8 | 176.1 178.1 180.1 182.1 | 179.1 2001 | 183.3 183.7 184.2 184.5 184.9 185.2 185.4 185.7 185.9 | 183.7 184.9 185.7 | | | | Utilization | | | (percent) | | | 1979 | 86.7 87.1 87.1 86.1 86.9 86.7 85.9 85.4 85.3 85.5 84.9 84.5 | 87.0 86.6 85.5 85.0 | 86.0 1980 | 84.7 84.6 84.4 82.6 80.4 79.2 78.5 79.3 80.3 80.7 81.8 82.1 | 84.6 80.7 79.4 81.5 | 81.5 1981 | 81.2 81.4 81.6 80.9 81.4 81.8 82.3 81.8 80.9 80.1 78.8 77.7 | 81.4 81.4 81.7 78.9 | 80.8 1982 | 76.3 77.8 77.1 76.2 75.4 75.0 74.2 73.7 73.0 72.2 71.9 71.1 | 77.1 75.6 73.6 71.7 | 74.5 | | | 1983 | 72.5 72.3 72.9 73.7 74.5 74.8 76.1 77.0 78.2 78.7 78.6 78.9 | 72.6 74.4 77.1 78.7 | 75.7 1984 | 80.4 80.1 80.8 81.0 81.3 81.5 81.5 81.3 81.0 80.5 80.4 79.8 | 80.4 81.3 81.3 80.2 | 80.8 1985 | 79.9 80.4 80.4 80.3 80.3 79.9 79.4 79.6 79.9 79.0 79.2 79.5 | 80.2 80.2 79.6 79.2 | 79.8 1986 | 79.8 79.2 78.2 78.7 78.4 78.1 78.2 78.3 78.2 78.8 79.1 79.7 | 79.1 78.4 78.2 79.2 | 78.7 1987 | 79.1 80.0 80.2 80.5 80.7 81.4 81.8 81.8 81.6 82.6 82.8 83.2 | 79.8 80.8 81.7 82.9 | 81.3 | | | 1988 | 83.2 83.4 83.3 83.7 83.7 83.6 84.1 84.5 84.1 84.2 84.8 85.1 | 83.3 83.7 84.2 84.7 | 84.0 1989 | 85.4 84.6 85.3 85.3 84.7 84.4 83.4 83.6 83.3 82.8 83.0 83.2 | 85.1 84.8 83.4 83.0 | 84.1 1990 | 82.7 83.0 83.3 82.7 82.9 82.7 82.6 82.6 82.6 82.0 80.8 80.2 | 83.0 82.8 82.6 81.0 | 82.3 1991 | 79.6 78.9 78.1 78.2 78.7 79.6 79.5 79.5 80.2 80.0 79.8 79.2 | 78.9 78.8 79.7 79.6 | 79.3 1992 | 79.1 79.4 79.9 80.4 80.4 80.1 80.5 80.2 80.3 80.8 81.0 80.9 | 79.5 80.3 80.3 80.9 | 80.2 | | | 1993 | 81.0 81.3 81.3 81.4 80.9 80.9 81.0 80.7 81.4 81.5 81.6 82.1 | 81.2 81.1 81.0 81.7 | 81.3 1994 | 82.1 82.1 82.5 82.7 83.2 83.3 83.5 83.5 83.3 83.5 83.7 84.3 | 82.2 83.1 83.4 83.8 | 83.1 1995 | 84.4 84.0 83.8 83.3 83.3 83.2 82.5 83.3 83.4 82.8 82.7 82.4 | 84.1 83.3 83.1 82.6 | 83.3 1996 | 81.9 82.4 82.0 82.5 82.8 83.1 82.7 82.8 82.9 82.5 83.0 83.0 | 82.1 82.8 82.8 82.8 | 82.6 1997 | 83.0 83.5 83.3 83.4 83.3 83.3 83.5 83.8 83.8 83.9 83.9 83.7 | 83.3 83.3 83.7 83.8 | 83.5 | | | 1998 | 83.5 83.1 82.9 82.8 82.7 81.6 81.1 82.4 81.8 81.8 81.1 80.8 | 83.2 82.4 81.8 81.2 | 82.1 1999 | 81.0 80.9 81.1 80.9 81.2 81.0 81.3 81.4 81.2 81.5 81.5 81.7 | 81.0 81.0 81.3 81.6 | 81.2 2000 | 81.9 82.0 82.2 82.5 82.7 82.7 82.3 82.6 82.4 82.0 81.4 80.6 | 82.0 82.6 82.4 81.3 | 82.1 2001 | 79.7 79.2 78.7 78.4 78.0 77.1 77.0 76.4 75.5 | 79.2 77.8 76.3 | ------------------------------------------------------------------------------------------------------------------------------------------- 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 Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------- | | | Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual ------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) | | | 1979 | -.3 .7 .4 -1.5 1.5 .1 -.5 -.9 .0 .5 -.7 -.1 | 3.4 .3 -2.4 -1.5 | 3.6 1980 | .2 .3 -.4 -2.1 -3.1 -1.5 -.7 1.7 1.5 1.1 1.7 .3 | -.4 -17.7 -4.7 16.8 | -3.9 1981 | -.6 .6 .3 .2 .7 -.1 .6 -.8 -.8 -1.1 -1.6 -1.6 | 2.5 4.2 -.1 -13.1 | 1.6 1982 | -2.0 2.9 -.7 -.9 -.4 .0 -.8 -.5 -.5 -1.2 -.3 -.7 | -7.6 -2.7 -5.6 -8.0 | -5.9 | | | 1983 | 2.5 .4 1.4 1.1 1.4 .8 1.5 1.1 2.2 .6 .3 -.1 | 11.5 14.7 17.1 11.2 | 5.7 1984 | 2.5 .6 .7 .5 .4 .7 .3 .1 -.2 .0 .1 -.3 | 13.2 6.6 3.4 -.4 | 9.9 1985 | .1 .6 .7 .2 .5 -.3 -.4 .9 .4 -.8 1.1 -.1 | 2.1 4.2 1.1 1.6 | 2.3 1986 | 1.5 -.5 -.9 1.4 -.1 -.3 .3 .6 .0 .8 .4 1.2 | 4.5 1.7 1.7 6.7 | 2.8 1987 | -.8 1.6 .2 .5 .3 1.0 .7 -.2 .1 1.3 .5 .6 | 5.0 7.0 5.5 7.6 | 5.3 | | | 1988 | -.2 .4 -.1 1.0 -.1 .0 .7 .3 .2 .2 .9 .6 | 2.3 4.1 3.7 5.2 | 4.7 1989 | .9 -1.2 .8 .1 -.7 .0 -1.1 .3 -.3 -.6 .4 .1 | 4.3 -.7 -4.5 -1.4 | 1.9 1990 | -.2 .9 .3 -.8 .4 -.1 .0 .3 -.1 -.6 -1.3 -.6 | 2.9 -.1 .8 -6.3 | -.5 1991 | -.9 -.7 -1.1 .3 .7 1.4 .2 .2 1.1 -.1 -.2 -.5 | -9.7 1.2 7.8 1.7 | -2.4 1992 | .3 .6 1.0 .6 .4 -.1 .7 -.2 .3 .7 .5 -.1 | 2.4 7.3 3.0 4.5 | 4.0 | | | 1993 | .7 .3 .2 .5 -.4 .0 .2 -.2 1.3 .2 .5 .9 | 4.4 2.0 1.5 6.6 | 3.7 1994 | .0 .4 1.0 .8 .9 .2 .8 .5 .2 .6 .9 1.0 | 5.6 9.4 6.6 7.6 | 6.0 1995 | .6 -.2 .3 -.3 .2 .5 -.6 1.3 .9 -.3 .2 .1 | 6.5 .7 3.9 3.6 | 5.3 1996 | -.2 1.0 -.2 1.3 .9 .9 .2 .6 .6 .0 1.0 .6 | 2.3 10.1 7.1 5.7 | 4.9 1997 | .5 1.2 .4 .5 .3 .8 .6 1.1 .5 .6 .7 .4 | 8.5 6.7 9.0 7.7 | 7.8 | | | 1998 | .6 .0 .2 .6 .3 -.8 -.1 2.3 -.2 .7 -.2 .2 | 4.8 2.8 3.9 4.7 | 5.6 1999 | .5 .5 .5 .2 .8 .2 .6 .6 .1 .9 .5 .6 | 4.1 5.4 6.0 6.8 | 4.8 2000 | .6 .4 .9 .6 .6 .4 -.1 .6 .3 -.1 -.5 -1.0 | 7.1 8.0 3.7 -1.6 | 6.1 2001 | -.8 -.4 -.5 -.3 -.2 -1.2 .1 -.9 -1.1 | -7.9 -5.1 -6.6 | | | | IP | | | (1992 = 100) | | | 1999 | 140.5 141.2 141.9 142.2 143.4 143.6 144.5 145.3 145.6 146.8 147.5 148.4 | 141.2 143.1 145.1 147.6 | 144.8 2000 | 149.2 149.9 151.3 152.2 153.1 153.8 153.7 154.6 155.1 154.9 154.1 152.6 | 150.1 153.0 154.4 153.8 | 153.6 2001 | 151.3 150.7 150.0 149.6 149.2 147.5 147.6 146.3 144.7 | 150.7 148.7 146.2 | | | | Capacity | | | (percent of | | | 1992 output) | | | 1999 | 175.3 176.0 176.8 177.5 178.3 179.0 179.7 180.3 181.0 181.7 182.4 183.1 | 176.0 178.3 180.3 182.4 | 179.3 2000 | 183.8 184.6 185.3 186.1 186.9 187.6 188.4 189.1 189.9 190.7 191.5 192.3 | 184.6 186.9 189.2 191.5 | 188.0 2001 | 192.9 193.5 194.0 194.4 194.8 195.1 195.4 195.7 196.0 | 193.5 194.8 195.7 | | | | Utilization | | | (percent) | | | 1979 | 86.4 86.7 86.9 85.3 86.4 86.3 85.6 84.5 84.3 84.5 83.6 83.3 | 86.7 86.0 84.8 83.8 | 85.3 1980 | 83.3 83.3 82.7 80.8 78.1 76.7 75.9 77.0 77.9 78.6 79.7 79.7 | 83.1 78.5 76.9 79.3 | 79.5 1981 | 79.0 79.2 79.3 79.3 79.6 79.3 79.6 78.8 78.0 77.0 75.6 74.2 | 79.2 79.4 78.8 75.6 | 78.3 1982 | 72.6 74.6 73.9 73.1 72.7 72.6 71.8 71.4 70.9 69.9 69.6 69.0 | 73.7 72.8 71.4 69.5 | 71.8 | | | 1983 | 70.6 70.8 71.8 72.5 73.4 73.9 74.8 75.6 77.2 77.6 77.7 77.5 | 71.1 73.2 75.9 77.6 | 74.4 1984 | 79.3 79.5 79.8 80.0 80.1 80.3 80.4 80.2 79.8 79.6 79.5 79.0 | 79.5 80.1 80.1 79.4 | 79.8 1985 | 78.9 79.1 79.3 79.2 79.4 78.9 78.3 78.8 78.8 77.9 78.5 78.2 | 79.1 79.2 78.6 78.2 | 78.8 1986 | 79.1 78.6 77.8 78.7 78.5 78.1 78.2 78.6 78.4 78.9 79.1 79.9 | 78.5 78.5 78.4 79.3 | 78.7 1987 | 79.1 80.2 80.3 80.6 80.7 81.4 81.8 81.5 81.5 82.5 82.8 83.1 | 79.9 80.9 81.6 82.8 | 81.3 | | | 1988 | 82.9 83.1 82.9 83.7 83.5 83.4 83.8 84.0 84.0 84.1 84.8 85.1 | 83.0 83.5 83.9 84.7 | 83.8 1989 | 85.7 84.5 85.0 85.0 84.2 84.1 83.0 83.1 82.7 82.1 82.2 82.1 | 85.1 84.4 82.9 82.1 | 83.6 1990 | 81.8 82.5 82.6 81.8 82.0 81.8 81.6 81.7 81.5 80.9 79.7 79.0 | 82.3 81.9 81.6 79.9 | 81.4 1991 | 78.2 77.5 76.6 76.8 77.1 78.1 78.2 78.2 79.0 78.9 78.6 78.1 | 77.5 77.3 78.5 78.5 | 77.9 1992 | 78.1 78.5 79.1 79.5 79.6 79.4 79.8 79.5 79.6 79.9 80.2 79.9 | 78.6 79.5 79.6 80.0 | 79.4 | | | 1993 | 80.4 80.4 80.4 80.7 80.2 80.1 80.1 79.7 80.6 80.6 80.7 81.3 | 80.4 80.3 80.1 80.9 | 80.4 1994 | 81.1 81.1 81.7 82.1 82.6 82.5 82.8 82.9 82.8 83.0 83.3 83.8 | 81.3 82.4 82.8 83.4 | 82.5 1995 | 84.0 83.5 83.3 82.7 82.5 82.6 81.7 82.3 82.7 82.0 81.7 81.4 | 83.6 82.6 82.2 81.7 | 82.5 1996 | 80.9 81.3 80.7 81.4 81.7 82.0 81.8 81.9 82.0 81.6 82.0 82.1 | 81.0 81.7 81.9 81.9 | 81.6 1997 | 82.1 82.6 82.5 82.5 82.3 82.5 82.6 83.1 83.0 83.0 83.1 82.9 | 82.4 82.5 82.9 83.0 | 82.7 | | | 1998 | 82.9 82.4 82.0 82.0 81.8 80.6 80.1 81.5 80.9 81.0 80.4 80.2 | 82.4 81.5 80.8 80.5 | 81.3 1999 | 80.2 80.2 80.3 80.1 80.4 80.2 80.4 80.6 80.4 80.8 80.9 81.0 | 80.2 80.3 80.5 80.9 | 80.5 2000 | 81.2 81.2 81.6 81.8 81.9 82.0 81.6 81.7 81.7 81.2 80.5 79.3 | 81.3 81.9 81.7 80.3 | 81.3 2001 | 78.4 77.9 77.3 76.9 76.6 75.6 75.5 74.8 73.8 | 77.9 76.4 74.7 | ------------------------------------------------------------------------------------------------------------------------------------------- Note. See note to table 11. 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) | | | 1979 | -.7 .8 .2 -1.1 1.1 -.1 -.8 -.5 .0 .3 -.6 -.3 | .9 -.1 -3.5 -1.4 | 2.2 1980 | .3 .0 -.1 -2.2 -2.7 -1.3 -.8 1.2 1.6 .6 1.6 .5 | -.7 -16.6 -4.9 13.8 | -4.0 1981 | -.9 .4 .4 -.8 .8 .5 .9 -.5 -1.0 -.8 -1.6 -1.4 | 1.3 1.1 3.2 -11.8 | .8 1982 | -1.6 2.0 -.8 -.9 -.9 -.4 -1.0 -.4 -1.0 -1.0 -.3 -1.2 | -7.7 -5.8 -8.2 -9.1 | -6.5 | | | 1983 | 2.5 -.4 .8 1.2 1.2 .4 1.8 1.4 1.6 .6 -.2 .5 | 6.9 10.6 16.8 8.7 | 2.8 1984 | 1.9 -.3 1.0 .4 .4 .3 .1 -.1 -.2 -.5 .0 -.5 | 9.7 5.3 1.0 -3.5 | 7.5 1985 | .3 .9 .2 .1 .2 -.1 -.5 .6 .7 -.8 .3 .7 | 2.3 2.5 .5 1.0 | .9 1986 | .7 -.8 -1.1 .8 -.3 -.2 .0 .2 -.2 1.0 .4 1.0 | 1.7 -1.8 -.6 6.3 | .8 1987 | -.8 1.2 .3 .4 .5 .8 .5 .1 -.2 1.3 .3 .5 | 3.5 6.8 5.0 6.5 | 4.2 | | | 1988 | .1 .2 .1 .4 -.2 .1 .6 .5 -.3 .4 .6 .5 | 2.8 1.8 3.3 3.5 | 3.9 1989 | .5 -.7 .9 .1 -.7 -.3 -.9 .4 -.3 -.3 .2 .3 | 3.5 -.3 -4.8 -.4 | 1.4 1990 | -.4 .5 .5 -.5 .3 -.1 .0 .1 .2 -.6 -1.4 -.7 | 1.7 .6 .7 -6.4 | -.5 1991 | -.5 -.9 -1.0 .4 .8 1.2 .1 .0 1.0 -.2 -.2 -.7 | -8.8 1.4 6.1 .4 | -2.4 1992 | -.2 .4 .8 .7 .2 -.4 .6 -.4 .3 .6 .4 .0 | -.6 5.7 1.3 3.9 | 2.2 | | | 1993 | .4 .5 .1 .3 -.6 .2 .2 -.2 1.0 .2 .4 .7 | 3.7 .8 1.2 5.0 | 2.8 1994 | .1 .3 .6 .3 .7 .3 .4 .2 .0 .4 .6 .8 | 4.5 5.6 4.0 4.2 | 4.1 1995 | .3 -.3 -.1 -.4 .2 .3 -.6 1.1 .3 -.7 .1 -.1 | 2.9 -1.3 2.2 -.5 | 2.4 1996 | -.3 .9 -.3 1.0 .6 .6 -.3 .3 .2 -.4 .8 .2 | .7 7.0 2.2 2.0 | 2.0 1997 | .3 .8 -.1 .4 .1 .3 .4 .8 .5 .6 .4 .1 | 5.2 3.0 5.4 6.4 | 4.1 | | | 1998 | .1 -.2 .3 .4 .3 -1.1 -.5 2.0 -.6 .2 -.6 -.2 | 1.0 1.8 -.1 .0 | 2.7 1999 | .4 .0 .5 -.3 .5 -.1 .4 .3 .0 .6 .0 .3 | .9 1.4 2.9 3.4 | 1.2 2000 | .1 .1 .2 .3 .3 .0 -.7 .5 .0 -.4 -.5 -.8 | 1.7 2.9 -.9 -3.4 | 1.8 2001 | -.8 -.3 -.2 -.1 -.1 -.9 .1 -.6 -.9 | -6.9 -2.7 -4.9 | | | | IP | | | (1992 = 100) | | | 1999 | 119.3 119.4 119.9 119.6 120.2 120.1 120.6 120.9 120.9 121.7 121.7 122.1 | 119.5 119.9 120.8 121.8 | 120.5 2000 | 122.2 122.3 122.6 123.0 123.4 123.4 122.5 123.2 123.2 122.6 122.0 121.1 | 122.4 123.2 122.9 121.9 | 122.6 2001 | 120.1 119.7 119.5 119.4 119.2 118.2 118.3 117.6 116.5 | 119.7 118.9 117.5 | | | | Capacity | | | (percent of | | | 1992 output) | | | 1999 | 147.1 147.3 147.6 147.8 148.1 148.3 148.5 148.7 148.9 149.1 149.3 149.5 | 147.3 148.1 148.7 149.3 | 148.3 2000 | 149.6 149.8 150.0 150.2 150.3 150.5 150.7 150.8 150.9 151.0 151.2 151.3 | 149.8 150.3 150.8 151.2 | 150.5 2001 | 151.3 151.4 151.5 151.6 151.6 151.7 151.7 151.8 151.9 | 151.4 151.6 151.8 | | | | Utilization | | | (percent) | | | 1979 | 86.6 87.1 87.1 86.1 86.8 86.6 85.8 85.2 85.1 85.3 84.7 84.3 | 86.9 86.5 85.4 84.7 | 85.9 1980 | 84.4 84.3 84.1 82.1 79.8 78.7 78.0 78.8 80.0 80.4 81.6 81.8 | 84.3 80.2 78.9 81.3 | 81.2 1981 | 81.0 81.2 81.5 80.7 81.3 81.6 82.2 81.6 80.7 79.9 78.5 77.3 | 81.2 81.2 81.5 78.6 | 80.6 1982 | 76.0 77.4 76.7 75.9 75.1 74.7 73.9 73.5 72.6 71.8 71.5 70.5 | 76.7 75.2 73.3 71.3 | 74.1 | | | 1983 | 72.3 72.0 72.6 73.4 74.2 74.5 75.8 76.8 78.0 78.4 78.2 78.6 | 72.3 74.0 76.9 78.4 | 75.4 1984 | 80.0 79.7 80.4 80.6 80.8 81.0 80.9 80.7 80.5 80.0 79.9 79.3 | 80.1 80.8 80.7 79.7 | 80.3 1985 | 79.5 80.0 80.1 80.0 80.0 79.8 79.3 79.6 80.0 79.1 79.2 79.6 | 79.9 79.9 79.6 79.3 | 79.7 1986 | 80.1 79.4 78.5 79.0 78.7 78.5 78.4 78.5 78.3 79.0 79.3 80.0 | 79.3 78.7 78.4 79.4 | 79.0 1987 | 79.4 80.2 80.5 80.8 81.1 81.7 82.1 82.2 81.9 83.0 83.2 83.5 | 80.0 81.2 82.1 83.2 | 81.6 | | | 1988 | 83.6 83.7 83.7 84.0 83.8 83.9 84.3 84.6 84.3 84.6 85.0 85.3 | 83.7 83.9 84.4 85.0 | 84.2 1989 | 85.7 85.0 85.6 85.6 84.9 84.6 83.6 83.9 83.5 83.2 83.3 83.4 | 85.4 85.0 83.7 83.3 | 84.4 1990 | 83.0 83.3 83.7 83.1 83.3 83.1 83.0 83.0 83.0 82.4 81.1 80.5 | 83.3 83.2 83.0 81.4 | 82.7 1991 | 80.0 79.2 78.4 78.6 79.1 80.0 80.0 79.9 80.6 80.4 80.2 79.5 | 79.2 79.2 80.2 80.0 | 79.7 1992 | 79.3 79.5 80.1 80.6 80.6 80.2 80.7 80.3 80.4 80.8 81.0 81.0 | 79.7 80.5 80.4 80.9 | 80.4 | | | 1993 | 81.2 81.5 81.5 81.6 81.0 81.1 81.2 80.9 81.6 81.6 81.8 82.2 | 81.4 81.2 81.2 81.9 | 81.4 1994 | 82.2 82.3 82.7 82.7 83.2 83.3 83.5 83.5 83.3 83.4 83.7 84.2 | 82.4 83.1 83.4 83.7 | 83.1 1995 | 84.2 83.8 83.5 83.0 83.0 83.1 82.5 83.2 83.3 82.5 82.4 82.2 | 83.8 83.0 83.0 82.4 | 83.1 1996 | 81.8 82.4 81.9 82.6 82.9 83.3 82.8 82.9 82.9 82.5 83.0 83.0 | 82.0 82.9 82.9 82.8 | 82.7 1997 | 83.1 83.6 83.3 83.4 83.3 83.3 83.4 83.8 83.9 84.2 84.2 84.0 | 83.3 83.3 83.7 84.2 | 83.6 | | | 1998 | 83.8 83.3 83.3 83.3 83.3 82.1 81.4 82.8 82.1 82.0 81.3 81.0 | 83.5 82.9 82.1 81.4 | 82.5 1999 | 81.1 81.0 81.2 80.9 81.2 81.0 81.2 81.3 81.2 81.7 81.5 81.7 | 81.1 81.0 81.3 81.6 | 81.3 2000 | 81.6 81.6 81.7 81.9 82.1 82.0 81.3 81.7 81.6 81.2 80.7 80.0 | 81.7 82.0 81.5 80.6 | 81.5 2001 | 79.3 79.0 78.9 78.8 78.6 77.9 78.0 77.4 76.7 | 79.1 78.4 77.4 | ------------------------------------------------------------------------------------------------------------------------------------------- Note. Excluded industries are computers, communications equipment, and semiconductors and related electronic components. See also note to table 11. Table 14 Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing 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) | | | 1979 | -.7 .7 .3 -1.7 1.4 .0 -.6 -1.1 -.1 .4 -.9 -.2 | 1.9 -1.2 -3.8 -2.9 | 2.2 1980 | .0 .1 -.6 -2.4 -3.4 -1.5 -.9 1.7 1.6 1.0 1.7 .2 | -2.3 -19.9 -5.6 16.5 | -5.4 1981 | -.6 .4 .2 .1 .7 -.3 .5 -.9 -1.1 -1.2 -1.8 -2.0 | 1.8 2.8 -1.7 -15.0 | .5 1982 | -2.1 2.7 -.8 -.9 -.5 -.1 -1.0 -.3 -.9 -1.4 -.4 -1.1 | -9.4 -3.4 -6.7 -10.2 | -7.4 | | | 1983 | 3.1 .3 1.3 1.0 1.4 .6 1.5 1.1 2.1 .4 .1 -.1 | 12.1 13.2 16.3 9.1 | 4.7 1984 | 2.3 .4 .6 .3 .1 .5 .2 -.1 -.3 .0 .0 -.4 | 11.6 4.0 1.4 -1.3 | 8.1 1985 | .0 .6 .6 .1 .5 -.1 -.5 .9 .4 -.8 .8 -.1 | 1.2 4.0 1.4 1.1 | 1.5 1986 | 1.6 -.6 -1.0 1.5 -.2 -.1 -.1 .6 -.1 .9 .3 1.3 | 4.4 1.9 .3 6.6 | 2.5 1987 | -1.0 1.6 .1 .6 .4 .9 .6 -.2 .0 1.3 .5 .5 | 4.1 7.1 4.8 6.9 | 4.8 | | | 1988 | -.2 .2 .1 .8 -.4 .0 .6 .1 .3 .4 .8 .5 | 1.8 2.6 2.9 5.3 | 4.0 1989 | .9 -1.1 .8 .0 -.7 -.1 -1.0 .3 -.3 -.4 .2 -.1 | 4.1 -1.7 -5.0 -1.8 | 1.4 1990 | -.1 .9 .4 -.7 .4 -.2 .1 .2 .0 -.7 -1.4 -.7 | 2.7 -.1 .4 -7.1 | -.9 1991 | -.8 -.8 -1.2 .4 .7 1.5 .2 .1 1.2 -.2 -.3 -.6 | -10.3 1.0 7.8 1.0 | -2.8 1992 | .0 .5 1.0 .6 .3 -.2 .6 -.3 .2 .5 .5 -.1 | .6 6.3 1.7 3.1 | 2.9 | | | 1993 | .8 .3 .1 .5 -.5 .0 .2 -.4 1.2 .1 .4 .8 | 4.3 1.3 .6 5.2 | 2.9 1994 | .0 .4 .8 .5 .8 .0 .6 .3 .1 .4 .7 .8 | 4.5 7.1 4.5 5.2 | 4.5 1995 | .3 -.5 -.1 -.5 .1 .3 -.8 1.0 .6 -.7 -.1 -.1 | 2.9 -2.0 1.3 -.3 | 2.4 1996 | -.3 .8 -.5 1.2 .7 .7 -.1 .2 .3 -.4 .8 .4 | -.2 7.6 3.6 2.0 | 1.9 1997 | .3 .9 .0 .3 .0 .5 .4 .9 .4 .6 .5 .1 | 5.8 3.2 6.2 6.7 | 4.7 | | | 1998 | .3 -.2 .2 .6 .2 -1.2 -.5 2.2 -.6 .4 -.5 -.1 | 2.0 1.4 .0 1.6 | 3.2 1999 | .2 .2 .2 -.2 .6 -.1 .3 .4 .1 .7 .2 .2 | .7 1.4 2.7 4.4 | 1.5 2000 | .1 .0 .5 .1 .2 .0 -.7 .3 .1 -.4 -.8 -1.2 | 1.5 2.4 -1.4 -4.5 | 1.7 2001 | -.8 -.2 -.3 -.1 -.1 -1.0 .3 -.9 -1.0 | -8.2 -3.2 -5.1 | | | | IP | | | (1992 = 100) | | | 1999 | 121.2 121.5 121.7 121.5 122.2 122.0 122.4 122.9 123.0 123.9 124.1 124.3 | 121.5 121.9 122.7 124.1 | 122.5 2000 | 124.3 124.3 124.9 125.1 125.4 125.3 124.5 124.9 125.0 124.6 123.6 122.1 | 124.5 125.2 124.8 123.4 | 124.5 2001 | 121.1 120.8 120.4 120.3 120.2 119.0 119.3 118.3 117.1 | 120.8 119.8 118.2 | | | | Capacity | | | (percent of | | | 1992 output) | | | 1999 | 151.0 151.3 151.6 151.8 152.1 152.3 152.5 152.7 153.0 153.2 153.4 153.5 | 151.3 152.1 152.7 153.4 | 152.4 2000 | 153.7 153.9 154.1 154.3 154.4 154.6 154.8 154.9 155.0 155.2 155.3 155.4 | 153.9 154.4 154.9 155.3 | 154.6 2001 | 155.5 155.6 155.6 155.7 155.8 155.8 155.9 156.0 156.0 | 155.6 155.8 156.0 | | | | Utilization | | | (percent) | | | 1979 | 86.3 86.7 86.8 85.2 86.2 86.0 85.4 84.2 84.0 84.2 83.3 83.0 | 86.6 85.8 84.5 83.5 | 85.1 1980 | 82.8 82.8 82.2 80.1 77.2 75.9 75.1 76.3 77.4 78.0 79.2 79.2 | 82.6 77.8 76.3 78.8 | 78.8 1981 | 78.6 78.8 78.9 78.8 79.3 78.9 79.2 78.4 77.5 76.5 75.0 73.4 | 78.8 79.0 78.4 75.0 | 77.8 1982 | 71.9 73.8 73.2 72.5 72.0 71.9 71.1 70.9 70.2 69.2 68.8 68.0 | 72.9 72.1 70.7 68.7 | 71.1 | | | 1983 | 70.1 70.3 71.2 71.9 72.9 73.3 74.4 75.2 76.8 77.0 77.1 77.0 | 70.5 72.7 75.5 77.1 | 73.9 1984 | 78.7 79.0 79.3 79.4 79.3 79.6 79.6 79.4 79.0 78.9 78.8 78.4 | 79.0 79.4 79.3 78.7 | 79.1 1985 | 78.2 78.5 78.8 78.7 78.9 78.7 78.1 78.7 78.8 78.0 78.5 78.2 | 78.5 78.8 78.5 78.2 | 78.5 1986 | 79.4 78.8 78.0 79.0 78.8 78.6 78.4 78.8 78.6 79.2 79.3 80.2 | 78.7 78.8 78.6 79.6 | 78.9 1987 | 79.3 80.5 80.5 80.9 81.1 81.8 82.2 82.0 81.9 82.9 83.2 83.6 | 80.1 81.3 82.0 83.2 | 81.7 | | | 1988 | 83.3 83.5 83.4 84.0 83.6 83.6 84.1 84.1 84.3 84.5 85.1 85.4 | 83.4 83.8 84.2 85.0 | 84.1 1989 | 86.1 85.0 85.5 85.3 84.5 84.3 83.2 83.4 82.9 82.5 82.5 82.3 | 85.5 84.7 83.2 82.4 | 83.9 1990 | 82.1 82.8 83.0 82.3 82.4 82.1 82.1 82.1 81.9 81.3 80.0 79.3 | 82.6 82.3 82.0 80.2 | 81.8 1991 | 78.5 77.8 76.8 77.0 77.5 78.5 78.6 78.6 79.5 79.3 78.9 78.4 | 77.7 77.7 78.9 78.9 | 78.3 1992 | 78.3 78.6 79.3 79.7 79.8 79.5 79.9 79.6 79.6 79.9 80.1 79.9 | 78.7 79.7 79.7 80.0 | 79.5 | | | 1993 | 80.4 80.5 80.5 80.9 80.3 80.2 80.3 79.9 80.7 80.6 80.8 81.3 | 80.5 80.5 80.3 80.9 | 80.5 1994 | 81.2 81.3 81.8 82.1 82.6 82.4 82.7 82.8 82.7 82.8 83.2 83.7 | 81.4 82.3 82.7 83.2 | 82.4 1995 | 83.8 83.2 82.9 82.4 82.2 82.3 81.5 82.1 82.5 81.7 81.4 81.1 | 83.3 82.3 82.0 81.4 | 82.3 1996 | 80.7 81.1 80.6 81.3 81.7 82.1 81.9 81.9 81.9 81.4 81.9 82.0 | 80.8 81.7 81.9 81.8 | 81.6 1997 | 82.1 82.6 82.4 82.4 82.2 82.4 82.5 83.0 83.1 83.3 83.4 83.1 | 82.4 82.4 82.8 83.3 | 82.7 | | | 1998 | 83.1 82.6 82.4 82.5 82.4 81.1 80.4 81.8 81.1 81.2 80.6 80.3 | 82.7 82.0 81.1 80.7 | 81.6 1999 | 80.3 80.3 80.3 80.0 80.4 80.1 80.2 80.4 80.4 80.9 80.9 80.9 | 80.3 80.2 80.4 80.9 | 80.4 2000 | 80.9 80.8 81.0 81.1 81.2 81.0 80.4 80.6 80.6 80.3 79.6 78.5 | 80.9 81.1 80.6 79.5 | 80.5 2001 | 77.9 77.7 77.4 77.3 77.2 76.3 76.5 75.9 75.1 | 77.6 76.9 75.8 | ------------------------------------------------------------------------------------------------------------------------------------------- Note. See note to table 13. 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. The release also includes monthly indexes on the use of electric power in manufacturing and mining. More detailed descriptions of industrial production, capacity utilization, and electric power are available at www.federalreserve.gov/releases/G17 at the Board's World Wide Web site. In addition, files containing data shown in the release, more detailed series that were published in the G.17 prior to December 2000, and historical data are available at the Board's Web site. Instructions for searching for and downloading specific series are provided as well. For paid access to the data files through the Department of Commerce's Economic Bulletin Board or World Wide Web site, please call STAT-USA at 1-800-STAT-USA or 202-452-1986. Diskettes containing historical data and the data published in this release also are available from the Board of Governors of the Federal Reserve System, Publications Services, 202-452-3245. Industrial Production Coverage. The industrial production (IP) index measures the real output of the manufacturing, mining, and electric and gas utilities industries; the reference period for the index is 1992. For the period since 1997, the total IP index has been constructed from 276 individual series based on the 1987 Standard Industrial Classification (SIC) 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 intermediate products (which are inputs to nonindustrial sectors). Materials are inputs in the manufacture of products. Major industry groups include two-digit SIC industries and aggregates of these industries-for example, durable and nondurable manufacturing, mining, and utilities. A complete description of the market and industry structures, including details regarding series classification, relative importance weights, and data sources, is available on the Board's web site (www.federalreserve.gov/releases/G17/About.html) . Changes in output for the market and industry groups are summarized in table 1 and the levels of output (in index form) are shown in table 4. Special aggregates, that highlight the relative importance and contributions of several key industries, such as high-technology and motor vehicles, are summarized in tables 2 and 5. For a detailed description of the contents of the statistical tables, see below. Source data. On a monthly basis, the individual indexes of industrial production are constructed from two main types of source data: (1) output measured in physical units and (2) data on inputs to the production process, from which output is inferred. Data on physical products, such as tons of steel or barrels of oil, are obtained from private trade associations and from government agencies; data of this type are used to estimate monthly IP wherever possible and appropriate. Production indexes for a few industries are derived by dividing estimated nominal output (calculated using unit production or sales and unit values) by a corresponding Fisher price index; the most notable of these fall within the high-technology grouping and include computers and semiconductors. When suitable data on physical product are not available, estimates of output are based on either production-worker hours or electric power use by industry. Data on hours worked by production workers are collected in the monthly establishment survey conducted by the Bureau of Labor Statistics. The data on electric power use are described below. 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 Federal Reserve Bulletin February 1997 and March 2001.) In the IP index, series that measure the output of an individual industry are combined using weights derived from their proportion in the total value-added output of all industries. The IP index, which extends back to 1919, is built as a chain-type index since 1977. Between 1977 and 1992, the weights for months from January to June were drawn from the year containing the month being estimated and the preceding year; for months from July to December, the weights are drawn from the current and following year. Since mid-1992, the weights change monthly, eliminating distortions in the contributions of several high-technology industries-sectors where weights shift noticeably year-to-year. Thus, the current formula for the growth in monthly IP (or any of the sub-aggregates) since mid 1992 is the geometric mean of the change in output (I), and, as can be seen below, is computed using the unit value added estimate for the current month (pm) and the estimate for previous month: The 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 5 percent. If output in this industry increased 10 percent in a month, then this gain would boost growth in total IP by percentage point (0.05 x 10% = 0.5%). To assist users with calculations, the Federal Reserve's web site provides supplemental monthly statistics that represent the exact proportionate contribution of a monthly change in a component index to the monthly change in the total index (www.federalreserve.gov/ releases/G17/ipdisk/ipweights.sa). 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 three 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 48 percent of the source data (in value-added terms) are ava