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        |
                                                             |                  |---------------------|----------------------------|----------------------------| July '03 
                                                             |             2003 |                     |  2003          2004        |  2004                      |     to
 Item                                                        |    gross value<1>|  2001   2002   2003 |    Q3     Q4   Q1    Q2  r |  Apr.    May   June   July |  July '04 
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                                                             |                  |                     |                            |                            |
  Finished                                                   |        1748.6    |  -4.2    1.4    2.2 |   5.7    5.2    7.6    3.1 |    .4     .2    -.6     .9 |       4.8 
  Semi-finished                                              |        1562.2    |  -6.5    3.1    2.1 |   5.8    6.8    8.5    6.3 |    .7    1.3    -.8    -.2 |       5.5 
  Primary                                                    |         920.4    |  -6.2    3.1     .2 |   3.3    8.5    5.5   -2.1 |   -.6     .9    -.1    -.3 |       3.2 
  Crude                                                      |         397.6    |  -2.9    -.6    -.6 |   3.0    2.0    2.4    4.6 |   1.0     .5     .1     .8 |       3.0 
                                                             |                  |                     |                            |                            |
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 r  Revised.  p  Preliminary.
      <1>  Billions of 2000 dollars.