REVISION OF INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
On November 7, 2005, the Federal Reserve Board issued its annual revision to the index of
industrial production (IP) and the related measures of capacity and capacity utilization. The base year
for the indexes of industrial production, capacity, and electric power use was advanced to 2002.
The revisions to the IP index were principally derived from the inclusion of information contained
in annual reports issued by the Census Bureau--namely, the 2003 Annual Survey of Manufactures, the revised
data from the 2002 Census of Manufactures, and selected 2004 Current Industrial Reports. Annual data on
minerals (except fuels) for 2003 and 2004 from the U.S. Geological Survey and updated deflators from the
Bureau of Economic Analysis were also introduced. The updating also included revisions to the monthly
indicator for each industry (either physical product data or production-worker hours) and revisions to
The Federal Reserve discontinued its use of survey data of industrial electric power use in the
industrial production index. The Federal Reserve is proposing to discontinue the survey itself; the period
for public comment on the proposal ends November 28, 2005.
Capacity and capacity utilization were revised to incorporate data from the Census Bureau’s 2004
Survey of Plant Capacity, which covers manufacturing, along with new data on capacity from the U.S.
Geological Survey, the U.S. Department of Energy, and other organizations.
The revision is available on the Board’s website at www.federalreserve.gov/releases/G17. The
revised data are also available through the website of the Department of Commerce. Further information on
these revisions is available from the Board’s Industrial Output Section (telephone 202-452-3197).
Release dates | Historical data |
Current Monthly Release
Other formats: ASCII |PDF (144 KB)
Supplemental Monthly Release Other formats: ASCII | PDF (144 KB)
Annual Revision Release Other formats: ASCII | PDF (150 KB)