Industrial Production and Capacity Utilization - G.17
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Release Date: November 24, 2025
Table 4
Annual Rates of Change for Industrial Production [1]
[1] The rates of change are calculated as the percent change in the annual averages of not seasonally adjusted industrial production indexes rather than as the percent change between the fourth quarter of one year and the fourth quarter of the next.
[2] See footnote 2 to table 2.
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| Item | Revised Growth Rates | Difference between revised and earlier rates (percentage points) |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2021 | 2022 | 2023 | 2024 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| Total IP | -7.1 | 4.4 | 1.7 | -.2 | -.7 | .0 | .0 | -1.7 | -.4 | -.4 |
| MARKET GROUP | ||||||||||
| Consumer goods | -3.3 | 4.2 | -.6 | -1.4 | -.4 | .0 | -.2 | -2.2 | -.7 | -.3 |
| Durable | -5.0 | 9.5 | 2.3 | -2.5 | -2.8 | .5 | -.4 | .6 | -2.0 | -.9 |
| Nondurable | -2.9 | 2.7 | -1.5 | -1.1 | .3 | -.1 | -.2 | -2.9 | -.4 | -.1 |
| Business equipment | -12.8 | 5.7 | 3.7 | .0 | -3.0 | .1 | .0 | -4.6 | .4 | -.4 |
| Defense and space equipment | -6.0 | .5 | -7.3 | 6.3 | 1.1 | -.4 | -1.0 | -5.5 | -.4 | -3.4 |
| Construction supplies | -4.3 | 4.5 | 1.6 | -2.6 | -1.8 | -.5 | -.3 | -1.1 | -.2 | -1.1 |
| Business supplies | -6.0 | 4.7 | .6 | -1.8 | -.2 | -.2 | .0 | -3.8 | -.2 | -.5 |
| Materials | -8.5 | 4.3 | 3.2 | 1.0 | -.3 | .0 | .3 | -.3 | -.2 | -.2 |
| Non-energy | -7.2 | 5.1 | 1.4 | -.7 | -.9 | .0 | .4 | -.4 | .0 | -.4 |
| Energy | -10.7 | 3.0 | 5.9 | 3.3 | .7 | .1 | .1 | -.3 | -.5 | .1 |
| INDUSTRY GROUP | ||||||||||
| Manufacturing[2] | -6.5 | 4.9 | .4 | -.9 | -1.0 | .0 | .0 | -2.3 | -.4 | -.5 |
| Manufacturing (NAICS) | -6.5 | 5.0 | .4 | -.8 | -.9 | .0 | .0 | -2.3 | -.4 | -.5 |
| Durable manufacturing | -8.9 | 6.0 | 3.0 | -.5 | -2.1 | .0 | -.1 | -1.0 | -.7 | -1.2 |
| Nondurable manufacturing | -3.9 | 3.9 | -2.2 | -1.0 | .4 | .0 | .1 | -3.7 | -.1 | .2 |
| Other manufacturing (non-NAICS) | -7.7 | 2.9 | .7 | -8.2 | -5.1 | .0 | .0 | .0 | -1.5 | .1 |
| Mining | -14.9 | 3.5 | 7.7 | 4.6 | -1.0 | -.2 | .3 | .3 | -.2 | -.1 |
| Utilities | -2.9 | 2.0 | 3.0 | -1.6 | 2.0 | .0 | .0 | .0 | .3 | .0 |
[1] The rates of change are calculated as the percent change in the annual averages of not seasonally adjusted industrial production indexes rather than as the percent change between the fourth quarter of one year and the fourth quarter of the next.
[2] See footnote 2 to table 2.
Last Update: November 24, 2025