Table 10
 Gross-Value-Weighted Industrial Production:  Stage-of-Process Groups
 Percent change, seasonally adjusted
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                                                             |                  | Fourth quarter to   |                            |                            |
                                                             |                  |   fourth quarter    |        Annual rate         |        Monthly rate        |
                                                             |                  |---------------------|----------------------------|----------------------------|  May '03 
                                                             |             2003 |                     |  2003                 2004 |  2004                      |     to
 Item                                                        |    gross value<1>|  2001   2002   2003 |    Q2     Q3   Q4    Q1  r |  Feb.   Mar.   Apr.    May |   May '04 
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                                                             |                  |                     |                            |                            |
  Finished                                                   |        1748.6    |  -4.2    1.4    2.2 |  -3.9    5.7    5.2    7.5 |   1.1     .0     .4     .5 |       6.1 
  Semi-finished                                              |        1562.2    |  -6.5    3.1    2.1 |  -3.6    5.8    6.8    8.5 |   1.0    -.3    1.0    1.5 |       7.9 
  Primary                                                    |         920.4    |  -6.2    3.1     .2 | -10.3    3.3    8.5    6.4 |    .6    -.4     .6    1.1 |       6.0 
  Crude                                                      |         397.6    |  -2.9    -.6    -.6 |  -5.9    3.0    2.0    2.5 |   -.7     .1     .9     .2 |       3.7 
                                                             |                  |                     |                            |                            |
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 r  Revised.  p  Preliminary.
      <1>  Billions of 2000 dollars.