FEDERAL RESERVE STATISTICAL RELEASE G.17 (419) For release at 9:15 a.m. (EDT) March 16, 2021 Industrial Production and Capacity Utilization In February, total industrial production decreased 2.2 percent. Manufacturing output and mining production fell 3.1 percent and 5.4 percent, respectively; the output of utilities increased 7.4 percent. The severe winter weather in the south central region of the country in mid-February accounted for the bulk of the declines in output for the month. Most notably, some petroleum refineries, petrochemical facilities, and plastic resin plants suffered damage from the deep freeze and were offline for the rest of the month. Excluding the effects of the winter weather would have resulted in an index for manufacturing that fell about 1/2 percent and in an index for mining that rose about 1/2 percent. Both indexes would have remained below their pre-pandemic (February 2020) levels.<1> At 104.7 percent of its 2012 average, total industrial production in February was 4.2 percent lower than its year-earlier level. Capacity utilization for the industrial sector decreased 1.7 percentage points in February to 73.8 percent, a rate that is 5.8 percentage points below its long-run (1972-2020) average. Market Groups ------------- Most market groups posted losses in February, with the largest decrease of 14.5 percent coming from chemical materials as a result of the shutdowns at plants producing petrochemicals and plastic resins. Consumer energy products posted the only noteworthy increase, jumping 5.6 percent on a surge in utility output. Industry Groups --------------- Manufacturing output decreased 3.1 percent in February. The indexes for durable, nondurable, and other (publishing and logging) manufacturing fell 2.6 percent, 3.7 percent, and 0.5 percent, respectively. Among durables, many industries experienced decreases of between 1 and 3 percent. The largest drop, 8.3 percent, was posted by motor vehicles and parts, while the only increases were recorded by primary metals and by aerospace and miscellaneous transportation equipment. The cutback in the output of motor vehicles and parts, which reflected both a global shortage of semiconductors and the severe weather, reduced overall manufacturing output about 1/2 percent. Among nondurables, most industries recorded losses. The largest reductions occurred in those industries most affected by the weather: The indexes for chemicals and for petroleum and coal products decreased 7.1 percent and 4.4 percent, respectively. The output of utilities increased 7.4 percent in February, as the extremely cold winter weather boosted demand for heating. Mining production decreased 5.4 percent; a drop of more than 6 percent for oil and natural gas extraction accounted for most of the loss. The index for oil and gas well drilling continued its climb with an advance of 6.4 percent, though it remained about 50 percent below its year-earlier level. Capacity utilization for manufacturing decreased 2.3 percentage points in February to 72.3 percent. The operating rate for mining decreased 4.3 percentage points to 77.5 percent, while the operating rate for utilities increased 5.2 percentage points to 78.5 percent; both rates remained below their long-run averages. Notice Revision of Industrial Production and Capacity Utilization The Federal Reserve Board plans to issue its annual revision to the indexes of industrial production (IP) and the related measures of capacity utilization in the first half of 2021. New annual benchmark data for manufacturing for 2017 through 2019 will be incorporated, as well as other annual data, including information on the mining of metallic and nonmetallic minerals (except fuels). The weights for market-group splits of the industry-level indexes will be updated with information from the 2012 benchmark input-output accounts from the U.S. Bureau of Economic Analysis. The updated IP indexes will include revisions to the monthly indicator (either product data or input data) and to seasonal factors for each industry. In addition, the estimation methods for some series may be changed. Any modifications to the methods for estimating the output of an industry will affect the index from 1972 to the present. Capacity and capacity utilization will be revised to incorporate data for manufacturing through the fourth quarter of 2020 from the U.S. Census Bureau's Quarterly Survey of Plant Capacity Utilization, along with new data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations. <1> The methods used to estimate the effects on the industrial production indexes of the severe winter weather are similar to those used to estimate the effects of other major storms and are described in a Technical Q&A (https://www.federalreserve.gov/releases/g17/g17_technical_qa.htm#hurricaneharvey2017) and a FEDS Note (https://www.federalreserve.gov/econres/notes/feds-notes/natural-disasters-and-the-measurement-of-industria l-production-hurricane-harvey-a-case-study-20171011.htm). Industrial Production and Capacity Utilization: Summary Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | 2012=100 | Percent change | ----------------------------------------------------------------- | ----------------------------------------------------------------------------------- | 2020 2021 | 2020 2021 | Feb. '20 to Industrial production | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] | Feb. '21 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | | Total index | 102.8 103.8 104.8 105.8 107.1 104.7 | -.1 1.0 .9 1.0 1.1 -2.2 | -4.2 Previous estimates | 102.8 103.9 104.9 106.2 107.2 | -.1 1.1 .9 1.3 .9 | | | | Major market groups | | | Final Products | 98.8 99.5 100.1 101.3 102.6 101.4 | -.8 .7 .7 1.2 1.2 -1.1 | -1.2 Consumer goods | 104.0 104.5 104.8 106.4 107.4 106.8 | -1.0 .4 .3 1.5 .9 -.6 | .9 Business equipment | 90.9 91.8 93.4 93.9 95.3 92.3 | -.4 1.0 1.7 .5 1.5 -3.1 | -5.8 Nonindustrial supplies | 101.3 103.7 104.1 105.4 105.7 104.2 | .6 2.4 .3 1.3 .3 -1.5 | -5.1 Construction | 111.2 114.0 114.8 116.1 117.0 114.4 | .9 2.5 .7 1.1 .8 -2.2 | -4.7 Materials | 106.3 107.3 108.6 109.5 111.0 107.1 | .3 .9 1.3 .8 1.4 -3.5 | -6.6 | | | Major industry groups | | | Manufacturing (see note below) | 99.4 100.9 101.8 102.6 103.8 100.7 | .1 1.4 1.0 .7 1.2 -3.1 | -4.1 Previous estimates | 99.4 100.9 101.9 102.8 103.9 | .0 1.5 1.0 .9 1.0 | Mining | 114.3 112.2 116.1 116.6 119.0 112.6 | .9 -1.8 3.4 .4 2.1 -5.4 | -15.3 Utilities | 102.6 104.2 101.6 105.4 104.8 112.5 | -2.2 1.5 -2.5 3.8 -.6 7.4 | 10.1 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | Capacity | Percent of capacity | growth | ------------------------------------------------------------------------------------------------------------------------------------------- | --------------- | Average 1988- 1990- 1994- | | | 1972- 89 91 95 2009 2020 | 2020 2021 | Feb. '20 to Capacity utilization | 2020 high low high low Feb. | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] | Feb. '21 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | | Total industry | 79.6 85.1 78.8 85.0 66.7 76.9 | 72.5 73.2 73.9 74.6 75.5 73.8 | -.1 Previous estimates | | 72.4 73.3 73.9 74.9 75.6 | | | | Manufacturing (see note below) | 78.1 85.5 77.3 84.6 63.7 75.2 | 71.4 72.4 73.1 73.7 74.6 72.3 | -.3 Previous estimates | | 71.3 72.4 73.2 73.9 74.6 | Mining | 87.0 86.3 84.3 88.6 78.3 89.1 | 77.8 76.6 79.5 80.0 81.8 77.5 | -2.7 Utilities | 84.9 93.2 84.7 93.2 78.2 73.5 | 72.5 73.4 71.3 73.9 73.3 78.5 | 3.1 | | | Stage-of-process groups | | | Crude | 86.1 87.8 84.7 90.0 76.4 87.6 | 78.0 78.2 80.8 81.5 82.8 76.6 | -2.1 Primary and semifinished | 80.1 86.4 78.1 87.8 63.9 75.0 | 70.7 72.0 71.8 72.7 73.2 73.0 | .2 Finished | 76.6 83.3 77.3 80.6 66.5 74.0 | 71.6 72.0 72.9 73.4 74.5 73.1 | .2 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ [r] Revised. [p] Preliminary. Note. The statistics in this release cover output, capacity, and capacity utilization in the U.S. industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the North American Industry Classification System (NAICS); electric and gas utilities are those in NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33) plus the logging industry and the newspaper, periodical, book, and directory publishing industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and information respectively), but historically they were considered to be manufacturing and were included in the industrial sector under the Standard Industrial Classification (SIC) system. In December 2002 the Federal Reserve reclassified all its industrial output data from the SIC system to NAICS. Table 1 Industrial Production: Market and Industry Group Summary Percent change, seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Fourth quarter to | | | | | | fourth quarter | Annual rate | Monthly rate | | | |------------------------------|------------------------------|------------------------------------------------------------| Feb. '20 | | 2020 | | 2020 | 2020 2021 | to Item | NAICS |Proportion<1>| 2018 2019 2020 | Q2 Q3[r] Q4[r] | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] | Feb. '21 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | | Total IP | | 100.00 | 4.0 -.7 -4.3 | -42.6 43.3 9.2 | -.1 1.0 .9 1.0 1.1 -2.2 | -4.2 | | | | | | MARKET GROUP | | | | | | Final products and nonindustrial supplies | | 54.32 | 2.1 -1.0 -3.1 | -42.8 54.7 8.7 | -.4 1.1 .6 1.2 1.0 -1.2 | -2.3 Consumer goods | | 28.45 | 1.5 -1.3 -.4 | -35.0 59.5 3.3 | -1.0 .4 .3 1.5 .9 -.6 | .9 Durable | | 6.06 | 3.0 -3.6 3.1 | -77.2 437.8 3.7 | -1.4 .7 1.9 .4 1.7 -4.7 | -2.9 Automotive products | | 3.01 | 3.5 -5.0 5.9 | -92.6 2170.2 -6.8 | -3.2 -.7 3.8 -.6 .6 -6.5 | -5.5 Home electronics | | .13 | 5.7 8.4 2.0 | -26.2 37.5 20.5 | 1.4 2.3 1.3 .5 .0 -.9 | 4.9 Appliances, furniture, carpeting | | .84 | -1.6 -3.2 .7 | -44.7 78.0 11.1 | -.5 2.7 -2.2 2.6 6.6 -4.7 | 3.0 Miscellaneous goods | | 2.08 | 4.0 -2.4 -.2 | -45.2 50.9 19.8 | 1.0 2.2 .6 1.4 1.7 -2.0 | -1.3 Nondurable | | 22.39 | 1.0 -.5 -1.3 | -16.2 17.9 3.2 | -.8 .3 -.1 1.9 .7 .7 | 2.1 Non-energy | | 17.24 | -.1 -.2 .0 | -22.0 19.6 6.6 | -.6 .4 .8 .9 1.1 -.8 | .6 Foods and tobacco | | 9.79 | -.2 1.6 .9 | -18.4 18.5 7.2 | -1.2 .4 1.5 1.0 1.4 -1.8 | .9 Clothing | | .16 | -5.0 -8.6 -4.4 | -60.1 79.9 33.2 | -.5 5.1 -1.4 1.5 2.8 -.7 | -1.3 Chemical products | | 5.89 | 1.2 -1.5 -.3 | -20.0 15.2 4.6 | -.3 .0 .4 2.0 .9 .8 | 2.8 Paper products | | .99 | -5.4 -7.9 -2.8 | -40.7 33.7 6.5 | 4.4 2.0 -4.1 -5.4 -1.2 -.4 | -13.3 Energy | | 5.16 | 4.7 -1.7 -5.7 | 6.4 12.4 -7.4 | -1.7 .0 -3.2 5.0 -.6 5.6 | 7.3 | | | | | | Business equipment | | 8.81 | 3.9 -2.0 -7.9 | -61.0 105.7 12.0 | -.4 1.0 1.7 .5 1.5 -3.1 | -5.8 Transit | | 1.60 | 3.6 -8.4 -18.4 | -95.6 1637.7 45.0 | 3.1 2.8 5.9 -.6 1.1 -6.7 | -8.9 Information processing | | 2.40 | 3.6 5.6 1.0 | -13.4 19.0 -8.5 | -5.5 -.2 1.4 -.1 .5 -1.9 | -3.6 Industrial and other | | 4.81 | 4.2 -2.2 -7.2 | -53.1 53.1 12.3 | 1.0 .8 .3 1.3 2.2 -2.3 | -5.7 Defense and space equipment | | 2.44 | 6.7 8.4 -.6 | -31.5 31.2 12.7 | .0 2.1 .7 -.9 1.8 -.3 | .3 | | | | | | Construction supplies | | 5.66 | 2.5 .6 -1.5 | -41.1 24.3 20.5 | .9 2.5 .7 1.1 .8 -2.2 | -4.7 Business supplies | | 8.57 | .0 -1.0 -5.1 | -43.1 33.3 14.6 | .4 2.2 .1 1.5 .0 -1.0 | -5.4 | | | | | | Materials | | 45.68 | 6.1 -.3 -5.8 | -42.4 30.9 9.8 | .3 .9 1.3 .8 1.4 -3.5 | -6.6 Non-energy | | 27.85 | 3.2 -2.0 -2.8 | -45.1 43.6 17.0 | .7 2.0 1.1 .6 1.4 -4.4 | -5.3 Durable | | 16.04 | 3.9 -2.3 -4.6 | -54.0 69.2 13.1 | .7 1.4 .8 .4 1.6 -1.6 | -4.4 Consumer parts | | 2.64 | 3.9 -8.7 2.3 | -85.0 668.0 10.5 | -.3 .6 1.5 2.5 1.0 -4.8 | -1.2 Equipment parts | | 4.72 | 5.8 .6 -4.2 | -34.4 26.3 9.4 | 1.0 .8 .4 .0 2.1 -.5 | -1.8 Other | | 8.68 | 2.7 -1.8 -6.9 | -49.4 30.1 16.2 | .8 2.0 .8 .0 1.5 -1.0 | -6.8 Nondurable | | 11.81 | 2.2 -1.4 -.2 | -30.2 15.5 22.6 | .9 2.8 1.5 .8 1.0 -8.3 | -6.5 Textile | | .35 | 5.4 -.3 -7.4 | -65.2 98.5 7.5 | 4.3 -1.3 -3.5 3.4 -1.0 1.2 | -7.2 Paper | | 1.77 | -.3 -3.7 -6.1 | -39.6 -1.1 27.8 | 1.3 4.7 -.3 1.0 -.7 .3 | -6.8 Chemical | | 6.47 | 4.3 -1.6 1.0 | -26.5 10.6 29.3 | .5 4.0 2.6 .5 1.6 -14.5 | -10.3 Energy | | 17.83 | 10.4 2.3 -10.4 | -38.0 13.4 -.9 | -.4 -.9 1.6 1.1 1.4 -2.0 | -8.6 | | | | | | | | | | | | INDUSTRY GROUP | | | | | | Manufacturing | | 75.28 | 2.2 -1.2 -2.8 | -46.5 57.5 12.3 | .1 1.4 1.0 .7 1.2 -3.1 | -4.1 Manufacturing (NAICS) | 31-33 | 73.65 | 2.5 -1.1 -2.6 | -46.4 57.9 12.2 | .0 1.4 1.1 .8 1.3 -3.1 | -3.8 | | | | | | Durable manufacturing | | 37.06 | 4.1 -1.3 -3.5 | -57.7 102.8 12.0 | .2 1.2 1.3 .5 1.5 -2.6 | -4.0 Wood products | 321 | 1.54 | -.9 3.0 1.0 | -36.8 37.5 16.5 | .1 2.9 .5 2.8 .5 -1.1 | .6 Nonmetallic mineral products | 327 | 2.37 | 1.9 -.5 -1.3 | -42.6 30.8 15.1 | -1.2 2.7 .9 3.0 -1.5 -2.9 | -7.1 Primary metals | 331 | 2.73 | 6.2 -4.1 -9.2 | -70.4 68.8 49.1 | 5.7 1.8 4.6 -.5 .8 .8 | -4.6 Fabricated metal products | 332 | 5.76 | 4.9 -1.3 -6.1 | -38.4 16.3 11.8 | 2.4 .0 1.0 .2 2.4 -2.9 | -7.1 Machinery | 333 | 5.26 | 5.8 -4.0 -3.5 | -51.0 69.8 15.4 | .6 2.1 -.8 1.5 2.6 -2.3 | -1.2 Computer and electronic products | 334 | 5.18 | 4.5 6.3 1.9 | -15.1 18.3 .3 | -2.2 .5 .9 -.3 1.0 -1.6 | -1.0 Electrical equip., appliances, | | | | | | and components | 335 | 1.85 | 3.5 -2.1 -3.4 | -35.0 15.3 15.3 | -.4 3.3 .3 .7 3.0 -.8 | -3.1 Motor vehicles and parts | 3361-3 | 4.93 | 5.5 -6.8 4.1 | -94.6 2674.9 -2.9 | -2.4 -.4 4.1 -.1 .1 -8.3 | -8.6 Aerospace and miscellaneous | | | | | | transportation equipment | 3364-9 | 3.66 | 2.7 .5 -12.2 | -61.3 102.0 25.3 | 2.2 2.0 .9 -.9 2.3 .8 | .8 Furniture and related products | 337 | 1.16 | 1.6 -.7 -10.9 | -54.9 47.7 .2 | .4 -.4 -1.1 1.6 2.4 -3.4 | -11.7 Miscellaneous | 339 | 2.62 | 2.2 .6 -4.9 | -53.3 74.8 13.0 | -1.9 2.4 1.7 .9 2.2 -2.1 | -2.2 | | | | | | Nondurable manufacturing | | 36.59 | .9 -.8 -1.7 | -32.1 23.3 12.5 | -.2 1.6 .7 1.2 1.1 -3.7 | -3.6 Food, beverage, and tobacco products | 311,2 | 11.88 | .2 1.7 1.0 | -18.9 20.0 6.7 | -.9 .2 1.4 .9 1.3 -1.7 | 1.1 Textile and product mills | 313,4 | .60 | .9 -3.6 -5.5 | -58.0 72.9 13.4 | 4.3 -.3 -1.9 2.8 .7 .6 | -3.7 Apparel and leather | 315,6 | .17 | -5.2 -8.5 -3.8 | -58.6 77.0 32.0 | -.5 4.8 -1.1 1.3 2.9 -.9 | -1.0 Paper | 322 | 2.47 | .0 -2.6 -1.9 | -28.0 -1.0 23.9 | 1.5 3.6 .1 1.1 -.5 -.1 | -2.4 Printing and support | 323 | 1.16 | -2.7 -3.2 -9.5 | -64.7 56.1 24.1 | 2.1 3.9 -.6 .7 -1.3 -1.8 | -14.8 Petroleum and coal products | 324 | 3.05 | -1.2 -1.6 -11.2 | -61.6 39.7 15.9 | -.8 2.6 .3 3.6 2.2 -4.4 | -12.5 Chemicals | 325 | 13.75 | 2.9 -1.5 -.7 | -22.4 12.1 14.0 | -.3 2.1 1.0 .9 1.1 -7.1 | -5.1 Plastics and rubber products | 326 | 3.50 | .0 -2.6 -1.6 | -52.3 79.8 11.7 | .5 1.2 -.7 1.2 1.4 -.2 | -1.7 | | | | | | Other manufacturing (non-NAICS) | 1133,5111 | 1.63 | -10.0 -8.0 -8.0 | -54.2 42.0 15.3 | 3.8 2.9 -3.1 -4.2 -1.4 -.5 | -14.8 | | | | | | Mining | 21 | 13.74 | 13.9 2.3 -13.7 | -46.9 1.8 3.4 | .9 -1.8 3.4 .4 2.1 -5.4 | -15.3 Utilities | 2211,2 | 10.98 | 2.6 -1.0 -2.7 | 3.7 16.3 -3.8 | -2.2 1.5 -2.5 3.8 -.6 7.4 | 10.1 Electric | 2211 | 9.15 | .8 -.9 -1.9 | -4.5 22.2 -4.0 | -3.2 1.4 -1.1 3.3 .1 5.6 | 10.0 Natural gas | 2212 | 1.83 | 12.8 -2.1 -6.4 | 55.9 -8.5 -2.9 | 3.3 2.1 -9.4 6.5 -4.0 16.7 | 10.7 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> The proportion data are the relative weights for the rates of change for each series in the computation of the change in total industrial production in the following year. Note. Under industry groups, the figures to the right of the series descriptions are 2012 North American Industry Classification System (NAICS) codes. The abbreviation pt denotes part of a NAICS code. Additional industry detail is available on the Board's website (www.federalreserve.gov/releases/G17/20210316/default_sup.htm). Under market groups, in the products category, miscellaneous consumer nondurables, oil and gas well drilling, and manufactured homes are not shown separately; in the nondurable materials category, containers and miscellaneous nondurable materials are not shown separately. Table 2 Industrial Production: Special Aggregates and Selected Detail Percent change, seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Fourth quarter to | | | | | | fourth quarter | Annual rate | Monthly rate | | | |------------------------------|------------------------------|------------------------------------------------------------| Feb. '20 | | 2020 | | 2020 | 2020 2021 | to Item | NAICS | Proportion| 2018 2019 2020 | Q2 Q3[r] Q4[r] | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] | Feb. '21 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | | Total industry | | 100.00 | 4.0 -.7 -4.3 | -42.6 43.3 9.2 | -.1 1.0 .9 1.0 1.1 -2.2 | -4.2 | | | | | | Energy | | 25.64 | 8.7 .8 -10.1 | -33.4 12.8 -.7 | -.5 -.4 .5 2.2 .9 .0 | -5.8 Consumer products | | 5.16 | 4.7 -1.7 -5.7 | 6.4 12.4 -7.4 | -1.7 .0 -3.2 5.0 -.6 5.6 | 7.3 Commercial products | | 2.36 | 2.6 -.1 -7.4 | -40.4 28.1 11.4 | .3 2.1 .0 3.8 -.3 1.5 | -2.7 Oil and gas well drilling | 213111 | .29 | 19.3 -22.1 -60.2 | -93.1 -80.1 96.6 | 3.5 6.2 8.3 10.7 11.3 6.4 | -47.7 Converted fuel | | 4.92 | 3.2 -1.6 -3.5 | -25.7 44.3 -5.3 | -3.9 3.1 -2.8 1.8 1.3 2.1 | 3.2 Primary energy | | 12.90 | 12.8 3.6 -12.8 | -41.8 3.5 .9 | 1.1 -2.5 3.4 .8 1.4 -3.6 | -12.7 | | | | | | Non-energy | | 74.36 | 2.2 -1.2 -2.3 | -45.6 55.9 12.7 | .1 1.5 1.0 .6 1.2 -3.0 | -3.7 Selected high-technology industries | | 1.81 | 5.4 6.9 5.1 | -6.8 17.7 12.6 | 1.5 1.9 .1 -.4 2.0 -.3 | 7.9 Computers and peripheral equipment | 3341 | .31 | 1.5 -.1 6.2 | -17.3 24.7 9.4 | 1.9 .1 .5 -.2 -.3 -.7 | 2.1 Communications equipment | 3342 | .46 | 7.0 8.2 .8 | 4.5 1.0 15.8 | 1.2 1.8 1.3 .8 .8 -.8 | 7.2 Semiconductors and related | | | | | | electronic components | 3344 | 1.04 | 5.9 8.4 6.7 | -8.0 23.6 12.3 | 1.5 2.5 -.5 -1.0 3.2 .0 | 10.0 | | | | | | Excluding selected high-technology | | | | | | industries | | 72.55 | 2.1 -1.4 -2.5 | -46.4 57.1 12.7 | .0 1.5 1.1 .7 1.2 -3.0 | -4.0 | | | | | | Motor vehicles and parts | 3361-3 | 4.93 | 5.5 -6.8 4.1 | -94.6 2674.9 -2.9 | -2.4 -.4 4.1 -.1 .1 -8.3 | -8.6 Motor vehicles | 3361 | 2.35 | 9.5 -7.7 4.5 | -98.2 9225.3 -10.4 | -5.0 -.1 6.4 -.6 -1.4 -12.7 | -16.5 Motor vehicle parts | 3363 | 2.12 | 4.4 -5.6 1.6 | -89.0 1059.6 2.7 | -.3 -.4 1.2 .9 -.2 -4.9 | -5.3 | | | | | | Excluding motor vehicles and parts | | 67.62 | 1.8 -.9 -3.0 | -38.8 31.4 14.2 | .3 1.6 .8 .7 1.3 -2.6 | -3.6 Consumer goods | | 20.65 | .3 -.7 .1 | -27.6 28.5 8.5 | -.5 .8 .7 .9 1.4 -1.1 | .6 Business equipment | | 7.44 | 2.8 -1.4 -9.8 | -54.0 60.6 11.4 | -.1 .7 .8 .9 1.8 -2.1 | -5.6 Construction supplies | | 5.64 | 2.5 .5 -1.5 | -41.2 24.3 20.5 | .9 2.5 .7 1.1 .8 -2.2 | -4.8 Business supplies | | 5.96 | -1.2 -1.8 -4.7 | -45.3 36.2 15.6 | .5 2.3 .1 .7 .0 -2.1 | -7.1 Materials | | 25.44 | 3.0 -1.8 -3.4 | -40.4 26.5 18.4 | .8 2.2 1.1 .6 1.4 -4.4 | -5.5 | | | | | | Measures excluding selected high-technology | | | | | | industries | | | | | | Total industry | | 98.19 | 3.9 -.8 -4.5 | -43.2 43.9 9.2 | -.1 1.0 .9 1.0 1.1 -2.3 | -4.5 Manufacturing<1> | | 73.47 | 2.1 -1.4 -3.0 | -47.3 58.8 12.3 | .0 1.4 1.0 .8 1.2 -3.1 | -4.4 Durable | | 35.41 | 4.0 -1.6 -4.0 | -59.6 108.9 12.1 | .1 1.2 1.4 .5 1.4 -2.7 | -4.6 | | | | | | Measures excluding motor vehicles and parts | | | | | | Total industry | | 95.07 | 3.9 -.3 -4.8 | -36.9 25.8 10.0 | .1 1.1 .7 1.1 1.2 -1.9 | -4.0 Manufacturing<1> | | 70.35 | 1.9 -.8 -3.3 | -39.4 32.7 13.7 | .3 1.6 .7 .8 1.3 -2.6 | -3.7 Durable | | 32.30 | 3.9 -.2 -4.8 | -46.1 43.9 15.1 | .6 1.6 .8 .6 1.7 -1.6 | -3.2 | | | | | | Measures excluding selected high-technology | | | | | | industries and motor vehicles and parts | | | | | | Total industry | | 93.26 | 3.8 -.5 -5.0 | -37.4 25.9 10.0 | .0 1.1 .7 1.1 1.2 -1.9 | -4.2 Manufacturing<1> | | 68.54 | 1.8 -1.0 -3.5 | -40.1 33.2 13.7 | .2 1.6 .7 .8 1.3 -2.7 | -4.0 | | | | | | Stage-of-process components | | | | | | of non-energy materials, | | | | | | measures of the input to | | | | | | Finished processors | | 9.48 | 4.1 -3.0 -2.8 | -56.2 95.5 12.7 | .8 1.3 .4 1.0 1.2 -1.6 | -2.7 Primary and semifinished processors | | 18.37 | 2.7 -1.4 -2.8 | -38.4 22.7 19.4 | .7 2.4 1.4 .3 1.5 -5.9 | -6.6 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> The composition of manufacturing is specified in a note for the summary table. Table 3 Motor Vehicle Assemblies Millions of units, seasonally adjusted annual rate -------------------------------------------------------------------------------------------------------------------------------------------- | 2020 | 2020 | 2020 2021 Item |Average| Q1 Q2 Q3 Q4 | Sept. Oct. Nov. Dec. Jan. Feb. -------------------------------------------------------------------------------------------------------------------------------------------- Total | 8.83 | 9.80 3.61 11.44 10.84 | 10.70 10.41 11.07 11.05 10.65 9.26 Autos | 1.94 | 2.37 .77 2.48 2.22 | 2.39 2.25 2.29 2.12 2.03 1.74 Trucks | 6.89 | 7.43 2.84 8.96 8.62 | 8.31 8.16 8.78 8.93 8.62 7.52 Light | 6.65 | 7.16 2.72 8.69 8.32 | 8.06 7.89 8.46 8.61 8.31 7.25 Medium and heavy | .24 | .27 .12 .27 .31 | .26 .27 .33 .32 .31 .26 | | | Memo: | | | Autos and light trucks | 8.60 | 9.53 3.50 11.17 10.54 | 10.44 10.14 10.74 10.73 10.34 9.00 -------------------------------------------------------------------------------------------------------------------------------------------- Note. Seasonal factors and underlying data for auto, light truck, and medium and heavy truck production are available on the Board's website, www.federalreserve.gov/releases/G17/mvsf.htm. Table 4 Industrial Production Indexes: Market and Industry Group Summary 2012 = 100, seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | 2020 | 2020 2021 Item | NAICS | Proportion| June July Aug. Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total IP | | 100.00 | 97.8 101.9 102.9 102.8 103.8 104.8 105.8 107.1 104.7 | | | MARKET GROUP | | | Final products and nonindustrial supplies | | 54.32 | 94.4 98.5 99.8 99.4 100.5 101.1 102.4 103.4 102.1 Consumer goods | | 28.45 | 99.4 104.1 105.1 104.0 104.5 104.8 106.4 107.4 106.8 Durable | | 6.06 | 104.9 122.9 121.9 120.1 121.0 123.3 123.9 126.0 120.1 Automotive products | | 3.01 | 110.5 146.0 140.9 136.5 135.5 140.7 139.8 140.6 131.5 Home electronics | | .13 | 116.5 121.7 123.0 124.7 127.7 129.4 130.0 130.0 128.8 Appliances, furniture, carpeting | | .84 | 97.0 101.0 103.9 103.3 106.2 103.8 106.5 113.5 108.2 Miscellaneous goods | | 2.08 | 100.3 102.1 104.5 105.6 108.0 108.6 110.1 112.0 109.7 Nondurable | | 22.39 | 98.0 99.4 100.8 100.0 100.3 100.2 102.0 102.8 103.5 Non-energy | | 17.24 | 96.0 96.6 98.8 98.2 98.6 99.4 100.3 101.4 100.6 Foods and tobacco | | 9.79 | 106.7 105.8 108.5 107.1 107.6 109.2 110.3 111.8 109.8 Clothing | | .16 | 53.6 52.2 57.2 56.9 59.8 58.9 59.9 61.5 61.1 Chemical products | | 5.89 | 88.4 90.8 92.0 91.7 91.7 92.0 93.9 94.7 95.5 Paper products | | .99 | 66.7 67.4 70.0 73.1 74.6 71.6 67.7 66.9 66.6 Energy | | 5.16 | 103.9 108.1 107.2 105.4 105.4 102.0 107.2 106.5 112.5 | | | Business equipment | | 8.81 | 83.2 89.0 91.3 90.9 91.8 93.4 93.9 95.3 92.3 Transit | | 1.60 | 58.2 75.2 77.2 79.6 81.8 86.6 86.1 87.0 81.2 Information processing | | 2.40 | 117.7 119.2 122.2 115.5 115.3 116.9 116.8 117.4 115.1 Industrial and other | | 4.81 | 80.3 83.2 85.3 86.2 86.9 87.1 88.2 90.2 88.1 Defense and space equipment | | 2.44 | 97.3 99.1 101.5 101.5 103.6 104.3 103.4 105.3 105.0 | | | Construction supplies | | 5.66 | 106.3 107.9 110.2 111.2 114.0 114.8 116.1 117.0 114.4 Business supplies | | 8.57 | 91.7 94.8 95.8 96.2 98.4 98.4 99.9 99.9 98.9 | | | Materials | | 45.68 | 101.5 105.5 106.0 106.3 107.3 108.6 109.5 111.0 107.1 Non-energy | | 27.85 | 93.6 97.1 98.7 99.5 101.5 102.6 103.1 104.5 99.9 Durable | | 16.04 | 92.3 97.3 99.1 99.7 101.1 101.9 102.4 104.0 102.4 Consumer parts | | 2.64 | 86.1 103.3 104.1 103.8 104.4 106.0 108.6 109.7 104.4 Equipment parts | | 4.72 | 99.4 102.5 104.1 105.1 106.0 106.4 106.3 108.6 108.1 Other | | 8.68 | 90.5 92.6 94.7 95.5 97.4 98.2 98.1 99.6 98.6 Nondurable | | 11.81 | 95.2 96.6 98.1 99.0 101.7 103.3 104.0 105.1 96.4 Textile | | .35 | 81.7 85.9 90.3 94.2 92.9 89.7 92.7 91.8 92.9 Paper | | 1.77 | 77.7 77.8 79.1 80.2 83.9 83.6 84.5 83.9 84.2 Chemical | | 6.47 | 97.3 98.6 99.6 100.1 104.1 106.7 107.3 109.0 93.2 Energy | | 17.83 | 112.2 117.1 115.4 115.0 114.0 115.7 117.0 118.6 116.2 | | | | | | INDUSTRY GROUP | | | Manufacturing | | 75.28 | 93.8 97.7 99.4 99.4 100.9 101.8 102.6 103.8 100.7 Manufacturing (NAICS) | 31-33 | 73.65 | 95.0 99.0 100.7 100.6 102.0 103.1 104.0 105.3 102.0 | | | Durable manufacturing | | 37.06 | 93.6 100.3 101.7 101.8 103.1 104.5 105.0 106.5 103.8 Wood products | 321 | 1.54 | 120.9 126.6 125.3 125.4 129.1 129.7 133.3 134.0 132.5 Nonmetallic mineral products | 327 | 2.37 | 112.1 114.0 114.3 112.8 115.9 116.9 120.5 118.6 115.2 Primary metals | 331 | 2.73 | 71.4 75.1 79.2 83.7 85.2 89.1 88.7 89.4 90.1 Fabricated metal products | 332 | 5.76 | 92.5 92.3 93.8 96.1 96.0 97.0 97.2 99.5 96.6 Machinery | 333 | 5.26 | 78.8 83.2 86.0 86.6 88.4 87.7 89.0 91.3 89.2 Computer and electronic products | 334 | 5.18 | 130.3 131.9 133.9 131.0 131.7 132.8 132.5 133.8 131.7 Electrical equip., appliances, | | | and components | 335 | 1.85 | 92.7 95.2 95.8 95.4 98.5 98.8 99.5 102.4 101.6 Motor vehicles and parts | 3361-3 | 4.93 | 102.3 134.0 128.8 125.6 125.2 130.3 130.2 130.3 119.6 Aerospace and miscellaneous | | | transportation equipment | 3364-9 | 3.66 | 74.7 81.2 86.0 87.9 89.7 90.5 89.7 91.7 92.5 Furniture and related products | 337 | 1.16 | 92.7 94.1 95.3 95.7 95.2 94.2 95.7 98.1 94.7 Miscellaneous | 339 | 2.62 | 87.6 92.8 94.6 92.8 94.9 96.5 97.4 99.6 97.4 | | | Nondurable manufacturing | | 36.59 | 96.4 97.7 99.6 99.4 100.9 101.7 102.9 104.0 100.2 Food, beverage, and tobacco products | 311,2 | 11.88 | 109.1 108.5 111.1 110.1 110.3 111.9 112.9 114.4 112.5 Textile and product mills | 313,4 | .60 | 83.3 85.9 88.4 92.2 91.9 90.2 92.8 93.5 94.0 Apparel and leather | 315,6 | .17 | 55.0 53.6 58.7 58.3 61.1 60.5 61.3 63.1 62.5 Paper | 322 | 2.47 | 85.4 85.8 86.9 88.2 91.4 91.5 92.5 92.1 92.0 Printing and support | 323 | 1.16 | 75.9 78.7 79.7 81.4 84.6 84.0 84.6 83.5 82.0 Petroleum and coal products | 324 | 3.05 | 85.0 89.7 90.3 89.6 91.9 92.2 95.5 97.7 93.3 Chemicals | 325 | 13.75 | 94.0 95.6 96.9 96.6 98.7 99.6 100.5 101.6 94.4 Plastics and rubber products | 326 | 3.50 | 97.5 100.2 104.3 104.8 106.0 105.3 106.6 108.0 107.8 | | | Other manufacturing (non-NAICS) | 1133,5111 | 1.63 | 58.5 59.6 62.9 65.3 67.2 65.1 62.3 61.5 61.2 | | | Mining | 21 | 13.74 | 110.7 114.5 113.3 114.3 112.2 116.1 116.6 119.0 112.6 Utilities | 2211,2 | 10.98 | 101.5 106.7 104.9 102.6 104.2 101.6 105.4 104.8 112.5 Electric | 2211 | 9.15 | 99.1 104.8 103.0 99.7 101.1 100.0 103.3 103.4 109.1 Natural gas | 2212 | 1.83 | 117.3 119.5 117.5 121.4 123.9 112.3 119.6 114.9 134.0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. Note. Refer to the notes for table 1. Table 5 Industrial Production Indexes: Special Aggregates 2012 = 100, seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | 2020 | 2020 2021 Item | NAICS | Proportion| June July Aug. Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total industry | | 100.00 | 97.8 101.9 102.9 102.8 103.8 104.8 105.8 107.1 104.7 | | | Energy | | 25.64 | 106.5 111.1 109.5 108.9 108.5 109.0 111.4 112.4 112.4 Consumer products | | 5.16 | 103.9 108.1 107.2 105.4 105.4 102.0 107.2 106.5 112.5 Commercial products | | 2.36 | 97.0 102.6 100.1 100.3 102.5 102.5 106.4 106.1 107.8 Oil and gas well drilling | 213111 | .29 | 22.3 20.5 20.3 21.0 22.3 24.1 26.7 29.7 31.6 Converted fuel | | 4.92 | 94.7 102.2 100.9 96.9 100.0 97.2 98.9 100.2 102.3 Primary energy | | 12.90 | 117.0 120.6 118.7 120.0 117.1 121.0 122.0 123.7 119.2 | | | Non-energy | | 74.36 | 94.3 98.2 99.9 100.0 101.5 102.5 103.2 104.4 101.3 Selected high-technology industries | | 1.81 | 156.9 160.1 160.9 163.3 166.4 166.6 166.0 169.2 168.7 Computers and peripheral equipment | 3341 | .31 | 132.2 135.1 137.8 140.4 140.5 141.3 140.9 140.5 139.6 Communications equipment | 3342 | .46 | 132.8 132.6 132.4 134.0 136.4 138.1 139.3 140.4 139.3 Semiconductors and related | | | electronic components | 3344 | 1.04 | 175.7 181.0 181.7 184.4 189.0 188.0 186.2 192.1 192.1 | | | Excluding selected high-technology | | | industries | | 72.55 | 92.6 96.5 98.3 98.3 99.7 100.8 101.5 102.7 99.6 | | | Motor vehicles and parts | 3361-3 | 4.93 | 102.3 134.0 128.8 125.6 125.2 130.3 130.2 130.3 119.6 Motor vehicles | 3361 | 2.35 | 97.7 141.6 129.7 123.1 123.0 130.8 130.0 128.2 111.9 Motor vehicle parts | 3363 | 2.12 | 107.1 126.0 126.9 126.5 126.0 127.4 128.6 128.3 122.0 | | | Excluding motor vehicles and parts | | 67.62 | 91.9 94.0 96.2 96.4 98.0 98.8 99.5 100.8 98.2 Consumer goods | | 20.65 | 96.2 97.3 99.7 99.3 100.0 100.7 101.7 103.1 102.0 Business equipment | | 7.44 | 80.5 83.9 87.1 87.0 87.7 88.3 89.1 90.7 88.8 Construction supplies | | 5.64 | 106.2 107.8 110.1 111.1 113.9 114.8 116.0 116.9 114.3 Business supplies | | 5.96 | 85.8 87.9 90.1 90.5 92.6 92.6 93.2 93.2 91.3 Materials | | 25.44 | 90.8 93.3 95.0 95.8 97.8 98.9 99.5 100.9 96.5 | | | Measures excluding selected high-technology | | | industries | | | Total industry | | 98.19 | 96.7 100.8 101.8 101.6 102.7 103.6 104.7 105.9 103.5 Manufacturing<1> | | 73.47 | 92.2 96.1 97.8 97.8 99.2 100.1 100.9 102.1 98.9 Durable | | 35.41 | 90.4 97.2 98.5 98.6 99.8 101.2 101.8 103.3 100.5 | | | Measures excluding motor vehicles and parts | | | Total industry | | 95.07 | 97.6 100.4 101.7 101.7 102.9 103.6 104.7 106.0 104.0 Manufacturing<1> | | 70.35 | 93.2 95.4 97.5 97.7 99.3 100.0 100.8 102.1 99.4 Durable | | 32.30 | 92.4 95.6 97.9 98.5 100.1 100.9 101.5 103.3 101.7 | | | Measures excluding selected high-technology | | | industries and motor vehicles and parts | | | Total industry | | 93.26 | 96.5 99.2 100.5 100.5 101.6 102.3 103.5 104.7 102.7 Manufacturing<1> | | 68.54 | 91.4 93.6 95.7 95.9 97.4 98.1 98.9 100.2 97.5 | | | Stage-of-process components | | | of non-energy materials, | | | measures of the input to | | | Finished processors | | 9.48 | 90.5 97.0 98.4 99.2 100.6 101.0 102.1 103.2 101.6 Primary and semifinished processors | | 18.37 | 95.3 97.1 98.9 99.6 101.9 103.4 103.7 105.2 99.0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> The composition of manufacturing is specified in a note for the summary table. Table 6 Diffusion Indexes of Industrial Production Percent ------------------------------------------------------------------------------------------------------- Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. ------------------------------------------------------------------------------------------------------- One Month Earlier 2019 45.8 43.5 47.8 43.5 50.5 53.2 47.2 59.2 47.8 39.1 57.5 50.5 2020 55.5 49.0 24.4 11.4 56.9 75.6 74.4 68.6 57.5 68.2 65.2 60.0 2021 67.2 Three Months Earlier 2019 48.5 44.1 43.8 38.8 41.8 51.2 49.2 55.9 48.5 49.8 48.5 50.5 2020 63.2 53.8 25.1 8.4 12.4 28.8 75.3 84.3 81.6 73.9 69.2 70.9 2021 75.3 Six Months Earlier 2019 51.2 45.2 42.5 35.8 40.1 43.1 37.8 47.8 46.5 46.2 50.2 49.2 2020 54.5 51.2 24.1 11.0 11.4 16.1 25.8 31.1 47.2 83.6 87.6 83.6 2021 78.6 ------------------------------------------------------------------------------------------------------- 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 7 Capacity Utilization Percent of capacity, seasonally adjusted -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | 1972- 1994- | | | | 2020 | 2020 95 2009| 2020 | 2020 2021 Item | NAICS | proportion| ave. high low| Q2 Q3[r] Q4[r] | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | | 100.00 | 79.6 85.0 66.7 | 66.0 72.2 73.9 | 72.5 73.2 73.9 74.6 75.5 73.8 | | | | | Manufacturing<1> | | 76.85 | 78.1 84.6 63.7 | 63.2 70.9 73.1 | 71.4 72.4 73.1 73.7 74.6 72.3 Manufacturing (NAICS) | 31-33 | 74.64 | 78.0 84.7 63.5 | 63.7 71.5 73.6 | 71.9 72.9 73.7 74.3 75.2 72.9 | | | | | Durable manufacturing | | 38.84 | 76.6 83.7 58.4 | 58.8 70.1 72.2 | 70.5 71.4 72.4 72.8 73.8 71.9 Wood products | 321 | 1.48 | 76.6 86.6 47.8 | 68.5 74.1 77.0 | 73.9 76.0 76.4 78.5 78.9 78.0 Nonmetallic mineral products | 327 | 2.64 | 73.6 82.5 46.5 | 59.2 63.2 65.4 | 62.7 64.4 65.0 66.9 65.8 63.8 Primary metals | 331 | 3.12 | 77.5 94.1 48.7 | 51.7 59.2 65.7 | 62.5 63.8 66.8 66.6 67.2 67.8 Fabricated metal products | 332 | 5.45 | 77.6 84.8 62.0 | 71.1 74.2 76.6 | 75.8 75.9 76.8 77.0 78.9 76.7 Machinery | 333 | 5.33 | 77.4 87.3 59.8 | 63.0 72.1 74.8 | 73.2 74.8 74.2 75.4 77.4 75.6 Computer and electronic products | 334 | 5.26 | 77.1 84.2 70.1 | 69.5 72.0 71.6 | 71.2 71.4 71.8 71.5 72.0 70.6 Electrical equip., appliances, | | | | | and components | 335 | 1.88 | 81.5 92.8 67.0 | 66.3 69.1 71.9 | 69.1 71.5 71.8 72.4 74.5 74.0 Motor vehicles and parts | 3361-3 | 5.53 | 74.9 87.6 33.7 | 33.7 77.3 76.7 | 75.0 74.7 77.7 77.6 77.8 71.4 Aerospace and miscellaneous | | | | | transportation equipment | 3364-9 | 4.23 | 74.0 70.9 72.7 | 52.7 62.9 66.6 | 65.1 66.4 67.0 66.4 67.9 68.5 Furniture and related products | 337 | 1.19 | 76.8 82.8 56.4 | 62.3 69.2 69.7 | 69.8 69.7 69.1 70.4 72.1 69.7 Miscellaneous | 339 | 2.73 | 76.5 81.1 67.9 | 60.7 69.6 71.5 | 69.0 70.6 71.7 72.3 73.8 72.1 | | | | | Nondurable manufacturing | | 35.80 | 79.8 86.1 68.8 | 69.0 72.8 75.0 | 73.2 74.3 74.9 75.8 76.7 73.9 Food, beverage, and tobacco products | 311,2 | 11.56 | 80.2 85.3 75.6 | 71.4 74.7 75.8 | 74.8 74.9 76.0 76.7 77.6 76.3 Textile and product mills | 313,4 | .69 | 78.3 91.8 53.9 | 55.0 63.2 65.3 | 65.6 65.5 64.3 66.1 66.6 67.1 Apparel and leather | 315,6 | .21 | 75.4 87.0 56.6 | 48.7 56.8 61.6 | 58.5 61.6 61.1 62.2 64.2 63.8 Paper | 322 | 2.14 | 86.6 92.7 72.9 | 79.7 79.7 84.3 | 80.9 83.9 84.0 85.0 84.6 84.4 Printing and support | 323 | 1.33 | 79.1 85.4 58.8 | 54.7 61.7 65.7 | 63.0 65.6 65.4 66.0 65.1 64.0 Petroleum and coal products | 324 | 3.20 | 84.6 91.2 76.1 | 62.4 67.8 70.3 | 67.6 69.3 69.5 72.0 73.6 70.4 Chemicals | 325 | 13.16 | 76.6 82.0 64.7 | 71.1 73.2 75.8 | 73.5 75.0 75.8 76.5 77.4 71.9 Plastics and rubber products | 326 | 3.52 | 81.7 93.2 57.6 | 62.4 72.5 74.9 | 73.8 74.8 74.4 75.4 76.3 76.2 | | | | | Other manufacturing (non-NAICS) | 1133,5111 | 2.21 | 78.9 83.3 68.0 | 47.2 52.2 54.7 | 54.6 56.4 54.9 52.8 52.4 52.4 | | | | | Mining | 21 | 12.39 | 87.0 88.6 78.3 | 76.5 77.5 78.7 | 77.8 76.6 79.5 80.0 81.8 77.5 Utilities | 2211,2 | 10.76 | 84.9 93.2 78.2 | 72.0 74.2 72.9 | 72.5 73.4 71.3 73.9 73.3 78.5 | | | | | Selected high-technology industries | | 1.90 | 77.1 86.2 71.1 | 69.7 71.9 73.3 | 72.5 73.6 73.4 72.9 74.0 73.4 Computers and peripheral equipment | 3341 | .31 | 77.6 86.8 82.9 | 71.6 75.6 77.3 | 77.1 77.1 77.5 77.3 76.5 75.6 Communications equipment | 3342 | .60 | 75.4 86.1 77.1 | 56.3 55.6 56.7 | 55.7 56.4 56.8 57.0 57.4 56.9 Semiconductors and related | | | | | electronic components | 3344 | .98 | 78.7 92.0 62.9 | 76.7 80.2 81.9 | 80.8 82.6 82.0 81.0 82.9 82.5 | | | | | Measures excluding selected high-technology | | | | | industries | | | | | Total industry | | 98.10 | 79.7 84.9 66.5 | 65.9 72.2 73.9 | 72.4 73.2 73.9 74.6 75.5 73.8 Manufacturing<1> | | 74.95 | 78.1 84.5 63.3 | 63.1 70.9 73.1 | 71.3 72.4 73.1 73.7 74.6 72.3 | | | | | Stage-of-process groups | | | | | Crude | | 16.69 | 86.1 90.0 76.4 | 76.6 77.7 80.2 | 78.0 78.2 80.8 81.5 82.8 76.6 Primary and semifinished | | 45.02 | 80.1 87.8 63.9 | 64.4 70.3 72.2 | 70.7 72.0 71.8 72.7 73.2 73.0 Finished | | 38.29 | 76.6 80.6 66.5 | 62.7 71.6 72.8 | 71.6 72.0 72.9 73.4 74.5 73.1 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> The composition of manufacturing is specified in a note for the summary table. Table 8 Industrial Capacity Percent change ----------------------------------------------------------------------------------------------------------------------------------------------------- | Average annual rate | Fourth quarter to fourth quarter | Annual rate | Monthly rate |----------------------------|------------------------------------|----------------------------|-------------- | 1972- 1980- 1989- 1995-| | 2020 2021 | 2021 Item | 79 88 94 2021 | 2018 2019 2020 2021 | Q2 Q3 Q4 Q1 | Feb. ----------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | 3.0 1.9 2.3 1.9 | 1.5 2.1 .0 .5 | -.1 -.3 -.2 .2 | .0 | | | | Manufacturing<1> | 3.2 2.2 2.6 1.8 | .7 1.4 -.2 .2 | -.2 -.4 -.4 -.1 | .0 | | | | Mining | .7 .1 -.7 1.2 | 7.4 5.8 -2.1 -1.7 | -2.3 -3.2 -2.9 -2.3 | -.2 Utilities | 4.4 2.2 1.8 1.8 | 1.7 2.5 3.2 2.6 | 3.2 3.3 3.2 2.9 | .2 | | | | | | | | Selected high-technology industries | 18.6 16.7 16.1 16.3 | 3.0 7.1 4.7 6.1 | 4.8 4.2 4.0 5.3 | .4 Manufacturing<1> ex. selected | | | | high-technology industries | 2.6 1.3 1.6 .7 | .6 1.2 -.3 .1 | -.3 -.5 -.6 -.2 | .0 | | | | Stage-of-process groups | | | | Crude | 1.5 .4 -.5 1.1 | 5.3 4.4 -1.7 -1.1 | -1.8 -2.5 -2.3 -1.7 | -.1 Primary and semifinished | 3.0 1.4 2.5 2.0 | .8 1.6 .3 .7 | .3 .1 .1 .4 | .0 Finished | 3.9 3.3 2.8 1.7 | 1.0 1.6 .3 .4 | .4 .1 .1 .2 | .0 ----------------------------------------------------------------------------------------------------------------------------------------------------- <1> The composition of manufacturing is specified in a note for the summary table. Table 9 Gross Value of Final Products and Nonindustrial Supplies Billions of 2012 dollars at annual rate, seasonally adjusted ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | 2020 | 2020 2021 Item | 2012 | 2020 | Q2 Q3[r] Q4[r] | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | Final products and nonindustrial | | | | supplies | 4,020.4 | 3,980.4 | 3,546.4 4,089.8 4,161.4 | 4,084.7 4,124.4 4,156.7 4,203.2 4,250.0 4,167.1 | | | | Final products | 3,059.0 | 2,997.2 | 2,637.6 3,118.0 3,147.0 | 3,105.0 3,121.2 3,144.9 3,174.8 3,216.6 3,151.4 | | | | Consumer goods | 2,238.8 | 2,292.8 | 2,050.3 2,393.9 2,395.8 | 2,375.9 2,380.9 2,388.4 2,418.0 2,446.8 2,406.9 Durable | 436.9 | 477.9 | 320.3 548.6 546.3 | 536.6 537.6 550.6 550.7 556.8 524.3 Automotive products | 272.6 | 308.0 | 166.1 377.2 367.9 | 363.1 359.8 373.5 370.6 370.8 343.2 Other durable goods | 164.3 | 169.9 | 153.4 172.0 178.8 | 173.9 178.2 177.6 180.5 186.4 181.2 Nondurable | 1,801.9 | 1,817.2 | 1,744.6 1,842.3 1,846.8 | 1,837.3 1,841.3 1,834.5 1,864.8 1,887.4 1,882.8 | | | | Equipment, total | 820.2 | 712.0 | 596.1 732.7 758.6 | 737.1 747.9 763.5 764.3 777.2 752.3 Business and defense | 784.9 | 694.3 | 580.4 718.3 742.9 | 722.6 732.6 748.0 748.0 759.6 734.2 Business | 654.7 | 563.8 | 457.7 586.9 607.3 | 590.0 597.1 611.8 613.1 621.8 596.1 Defense and space | 130.2 | 129.6 | 121.3 130.7 134.8 | 131.8 134.7 135.5 134.2 137.0 137.2 | | | | Nonindustrial supplies | 961.4 | 983.4 | 908.9 972.1 1,014.6 | 980.0 1,003.3 1,012.0 1,028.6 1,033.6 1,015.9 Construction supplies | 274.1 | 304.1 | 282.7 300.1 316.0 | 304.7 312.7 315.3 319.9 321.6 315.5 Business supplies | 687.3 | 675.5 | 622.3 668.4 694.2 | 671.2 686.2 692.2 704.3 707.5 696.1 Commercial energy products | 264.8 | 256.2 | 232.8 251.1 261.7 | 248.5 255.2 260.3 269.5 272.7 269.6 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. Table 10 Gross-Value-Weighted Industrial Production: Stage-of-Process Groups Percent change, seasonally adjusted ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Fourth quarter to | | | | | fourth quarter | Annual rate | Monthly rate | | |------------------------------|------------------------------|------------------------------------------------------------| Feb. '20 | 2020 | | 2020 | 2020 2021 | to Item | gross value<1>| 2018 2019 2020 | Q2 Q3[r] Q4[r] | Sept.[r] Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[p] | Feb. '21 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | | | Finished | 2,230.8 | 2.8 -1.1 -1.2 | -53.4 109.7 6.6 | -.8 .7 1.6 .5 1.4 -2.8 | -2.3 Semifinished | 1,907.3 | 2.2 -1.4 -2.3 | -45.3 61.7 10.4 | .0 1.7 -.1 1.7 .6 -.3 | -1.2 Primary | 1,740.8 | 2.3 -2.3 -7.6 | -44.4 36.8 8.3 | .3 1.2 .1 .8 1.6 -1.6 | -5.6 Crude | 976.3 | 7.8 .2 -6.1 | -37.3 9.6 14.7 | -.2 1.6 2.5 .3 1.6 -9.6 | -12.7 | | | | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [r] Revised. [p] Preliminary. <1> Billions of 2012 dollars. 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) <1> | | | 1999 | .5 .5 .2 .3 .7 -.2 .6 .4 -.4 1.3 .5 .8 | 4.5 3.9 3.6 7.3 | 4.4 2000 | .0 .3 .4 .7 .2 .1 -.2 -.3 .4 -.3 .0 -.3 | 4.1 4.9 -.4 -.8 | 3.9 2001 | -.6 -.6 -.2 -.3 -.6 -.6 -.6 -.1 -.4 -.4 -.5 .0 | -5.2 -5.0 -5.4 -4.1 | -3.1 2002 | .6 .0 .8 .4 .4 1.0 -.2 .0 .1 -.3 .5 -.5 | 3.0 6.4 2.4 -.1 | .4 | | | 2003 | .8 .1 -.2 -.7 .0 .2 .4 -.1 .6 .1 .8 -.1 | 2.5 -3.0 2.7 4.0 | 1.3 2004 | .3 .6 -.5 .5 .8 -.8 .8 .1 .1 1.0 .2 .7 | 2.8 2.3 2.2 5.8 | 2.7 2005 | .5 .7 -.2 .2 .1 .4 -.3 .3 -1.9 1.3 1.0 .6 | 5.9 2.0 -1.8 3.9 | 3.3 2006 | .1 .0 .2 .4 -.1 .4 .0 .4 -.2 -.1 -.1 1.0 | 3.8 2.4 1.5 .9 | 2.3 2007 | -.5 1.0 .2 .7 .0 .0 .0 .2 .4 -.4 .6 .0 | 3.6 5.0 1.1 1.2 | 2.5 | | | 2008 | -.3 -.3 -.2 -.8 -.6 -.2 -.5 -1.5 -4.3 1.0 -1.3 -2.9 | -1.5 -5.8 -12.5 -16.0 | -3.5 2009 | -2.4 -.6 -1.6 -.8 -1.0 -.4 1.1 1.1 .8 .3 .4 .3 | -20.6 -10.9 6.1 6.4 | -11.5 2010 | 1.2 .4 .7 .4 1.5 .1 .4 .3 .2 -.3 .0 1.0 | 8.1 8.1 5.3 1.3 | 5.5 2011 | -.1 -.4 1.0 -.4 .2 .3 .5 .6 .0 .7 -.1 .6 | 2.3 1.6 4.8 4.0 | 3.1 2012 | .6 .2 -.5 .8 .2 .0 .3 -.5 .0 .2 .5 .4 | 3.9 2.6 .0 2.1 | 3.0 | | | 2013 | -.1 .6 .4 -.2 .1 .2 -.4 .7 .5 -.2 .3 .3 | 3.2 1.7 1.4 2.8 | 2.0 2014 | -.4 .8 1.0 .0 .4 .4 .2 -.1 .3 .0 .8 -.1 | 3.1 5.5 2.4 2.7 | 3.1 2015 | -.5 -.5 -.3 -.6 -.4 -.3 .6 -.2 -.4 -.4 -.7 -.6 | -3.0 -5.3 -.1 -5.1 | -1.0 2016 | .8 -.7 -.8 .1 -.1 .4 .3 -.1 .0 .2 -.2 .9 | -2.1 -2.3 1.8 1.3 | -2.0 2017 | .1 -.4 .7 .9 .1 .2 .0 -.5 .0 1.5 .5 .3 | 2.4 5.6 -.8 7.5 | 2.3 | | | 2018 | -.3 .4 .6 .9 -.8 .8 .4 .8 .1 .2 .5 .0 | 2.3 4.6 5.2 3.9 | 3.9 2019 | -.4 -.5 .1 -.6 .2 .0 -.2 .7 -.3 -.4 .9 -.4 | -1.9 -2.3 1.1 .4 | .8 2020 | -.4 .1 -4.4 -12.7 .9 6.2 4.2 1.0 -.1 1.0 .9 1.0 | -6.8 -42.6 43.3 9.2 | -6.9 2021 | 1.1 -2.2 | | | | | IP | | | (2012=100) | | | 2019 | 110.1 109.6 109.7 109.0 109.2 109.3 109.1 109.9 109.5 109.0 110.0 109.7 | 109.8 109.2 109.5 109.6 | 109.4 2020 | 109.2 109.3 104.5 91.3 92.1 97.8 101.9 102.9 102.8 103.8 104.8 105.8 | 107.7 93.7 102.5 104.8 | 101.9 2021 | 107.1 104.7 | | | | | Capacity | | | (percent of | | | 2012 output) | | | 2019 | 139.4 139.6 139.9 140.2 140.4 140.6 140.9 141.1 141.4 141.6 141.9 142.1 | 139.6 140.4 141.1 141.9 | 140.8 2020 | 142.0 142.1 142.1 142.1 142.0 142.0 142.0 141.9 141.9 141.9 141.8 141.8 | 142.1 142.0 141.9 141.8 | 142.0 2021 | 141.9 141.9 | | | | | Utilization | | | (percent) | | | 1999 | 81.9 82.0 81.8 81.7 81.9 81.5 81.7 81.7 81.1 81.9 82.0 82.3 | 81.9 81.7 81.5 82.1 | 81.8 2000 | 82.1 82.0 82.0 82.3 82.2 82.0 81.6 81.1 81.2 80.7 80.4 80.0 | 82.0 82.2 81.3 80.4 | 81.5 2001 | 79.2 78.4 78.0 77.6 76.9 76.2 75.6 75.3 74.8 74.3 73.8 73.7 | 78.6 76.9 75.2 74.0 | 76.2 2002 | 74.0 73.9 74.4 74.6 74.9 75.5 75.3 75.3 75.4 75.2 75.6 75.2 | 74.1 75.0 75.3 75.3 | 74.9 | | | 2003 | 75.8 75.9 75.8 75.3 75.3 75.5 75.8 75.8 76.2 76.3 76.9 76.9 | 75.9 75.4 75.9 76.7 | 76.0 2004 | 77.1 77.6 77.2 77.6 78.2 77.6 78.2 78.2 78.3 79.0 79.1 79.7 | 77.3 77.8 78.2 79.3 | 78.2 2005 | 80.0 80.5 80.3 80.3 80.3 80.5 80.2 80.3 78.7 79.6 80.3 80.7 | 80.2 80.4 79.7 80.2 | 80.1 2006 | 80.7 80.6 80.6 80.8 80.6 80.8 80.6 80.8 80.5 80.2 80.0 80.6 | 80.6 80.7 80.6 80.3 | 80.6 2007 | 80.0 80.6 80.6 81.0 80.9 80.8 80.6 80.7 81.0 80.6 81.1 81.1 | 80.4 80.9 80.8 80.9 | 80.8 | | | 2008 | 80.9 80.7 80.6 80.0 79.6 79.5 79.0 77.8 74.4 75.0 74.0 71.7 | 80.8 79.7 77.1 73.6 | 77.8 2009 | 70.0 69.4 68.3 67.7 67.0 66.7 67.4 68.2 68.8 69.1 69.5 69.9 | 69.2 67.1 68.2 69.5 | 68.5 2010 | 70.8 71.2 71.8 72.3 73.5 73.8 74.2 74.6 74.9 74.8 74.9 75.6 | 71.3 73.2 74.6 75.1 | 73.5 2011 | 75.6 75.3 76.0 75.7 75.8 75.9 76.2 76.6 76.4 76.8 76.6 76.9 | 75.6 75.8 76.4 76.8 | 76.1 2012 | 77.2 77.2 76.7 77.2 77.2 77.0 77.1 76.6 76.5 76.6 76.8 77.0 | 77.1 77.1 76.7 76.8 | 76.9 | | | 2013 | 76.7 77.1 77.3 77.1 77.0 77.1 76.7 77.2 77.5 77.3 77.4 77.6 | 77.0 77.1 77.1 77.5 | 77.2 2014 | 77.2 77.8 78.5 78.4 78.6 78.8 78.9 78.7 78.8 78.7 79.2 79.0 | 77.8 78.6 78.8 79.0 | 78.6 2015 | 78.6 78.1 77.8 77.3 76.9 76.6 77.0 76.9 76.6 76.3 75.7 75.3 | 78.1 76.9 76.8 75.8 | 76.9 2016 | 75.9 75.3 74.7 74.7 74.6 74.9 75.1 75.0 74.9 75.0 74.9 75.5 | 75.3 74.8 75.0 75.1 | 75.0 2017 | 75.5 75.2 75.7 76.4 76.5 76.6 76.5 76.2 76.1 77.3 77.6 77.9 | 75.5 76.5 76.3 77.6 | 76.5 | | | 2018 | 77.6 77.8 78.2 78.8 78.1 78.6 78.8 79.3 79.3 79.3 79.6 79.5 | 77.9 78.5 79.1 79.4 | 78.7 2019 | 79.0 78.5 78.4 77.8 77.8 77.7 77.4 77.8 77.4 77.0 77.6 77.2 | 78.6 77.8 77.6 77.2 | 77.8 2020 | 76.9 76.9 73.6 64.2 64.8 68.9 71.8 72.5 72.5 73.2 73.9 74.6 | 75.8 66.0 72.2 73.9 | 72.0 2021 | 75.5 73.8 | | ------------------------------------------------------------------------------------------------------------------------------------------- <1> Quarterly percentage changes are at annual rates. Annual percentage changes are calculated from annual averages. Table 12 Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1> Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------- | | | Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual ------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) <2> | | | 1999 | .3 .8 -.1 .4 .9 -.3 .5 .6 -.4 1.5 .6 .7 | 5.1 4.5 3.2 8.7 | 5.1 2000 | .1 .2 .6 .7 -.1 .2 .1 -.7 .4 -.3 -.3 -.6 | 4.5 4.8 -.4 -2.4 | 4.1 2001 | -.6 -.6 -.2 -.3 -.6 -.7 -.5 -.5 -.2 -.6 -.3 .3 | -6.0 -5.2 -5.8 -3.8 | -3.7 2002 | .6 .0 .8 .2 .5 1.1 -.3 .2 .1 -.4 .5 -.5 | 3.6 5.8 3.1 -.3 | .5 | | | 2003 | .7 -.1 .1 -.9 .1 .5 .2 -.4 .8 .1 1.0 -.2 | 2.1 -2.2 2.5 4.4 | 1.3 2004 | .0 .8 -.2 .4 .8 -.7 .9 .5 .0 1.0 -.1 .7 | 2.6 3.3 4.0 5.5 | 3.1 2005 | .7 .8 -.5 .4 .3 .1 -.3 .5 -1.0 1.5 .8 .2 | 6.6 2.3 -.7 6.4 | 4.1 2006 | .8 -.3 .0 .5 -.4 .4 -.3 .7 .1 -.4 .0 1.4 | 3.8 .8 1.0 1.5 | 2.6 2007 | -.5 .4 .9 .7 -.1 .3 .1 -.3 .5 -.3 .6 .1 | 4.0 5.9 1.1 1.2 | 2.8 | | | 2008 | -.4 -.6 -.3 -1.1 -.5 -.7 -1.2 -1.2 -3.5 -.6 -2.4 -3.5 | -2.6 -8.2 -14.0 -21.9 | -4.8 2009 | -3.0 -.1 -1.9 -.7 -1.1 -.3 1.5 1.1 .9 .2 1.0 -.2 | -24.4 -10.6 8.1 7.1 | -13.8 2010 | 1.1 .0 1.2 .8 1.4 -.1 .6 .1 .0 .1 .0 .5 | 6.9 10.4 4.2 1.2 | 5.8 2011 | .2 .1 .6 -.6 .1 .1 .6 .4 .3 .5 -.3 .7 | 3.1 -.1 4.5 3.8 | 2.9 2012 | .8 .3 -.5 .5 -.4 .2 -.1 -.2 -.1 -.4 .7 .8 | 5.2 .6 -1.1 1.2 | 2.6 | | | 2013 | -.3 .5 -.1 -.4 .3 .2 -.9 .9 .1 .1 .0 .0 | 2.9 -.1 -.1 1.7 | .9 2014 | -1.1 1.0 .8 -.2 .3 .4 .4 -.5 .0 -.1 .8 -.3 | -.8 4.3 1.6 .5 | 1.1 2015 | -.4 -.7 .3 -.1 .0 -.4 .7 -.3 -.4 .0 -.3 -.3 | -2.9 -1.2 .2 -2.8 | -.5 2016 | .7 -.6 -.2 -.4 .0 .3 .3 -.4 .4 .3 .1 .3 | -.3 -2.4 1.2 2.5 | -.8 2017 | .6 -.1 -.3 1.1 -.2 .1 -.2 -.3 -.2 1.3 .3 -.1 | 3.0 3.4 -1.6 5.3 | 2.0 | | | 2018 | -.4 1.1 .0 .4 -.8 .7 .4 .4 .0 -.1 .2 .6 | 1.6 2.0 3.6 1.5 | 2.3 2019 | -.6 -.5 -.1 -.9 .1 .6 -.4 .6 -.6 -.6 .9 .2 | -1.8 -3.3 .7 -.5 | -.2 2020 | -.1 .0 -5.0 -15.8 3.8 7.7 4.2 1.7 .1 1.4 1.0 .7 | -5.5 -46.5 57.5 12.3 | -6.8 2021 | 1.2 -3.1 | | | | | IP | | | (2012 = 100) | | | 2019 | 105.8 105.3 105.2 104.3 104.4 105.0 104.6 105.2 104.5 103.9 104.9 105.1 | 105.5 104.6 104.8 104.6 | 104.8 2020 | 105.0 104.9 99.6 83.9 87.0 93.8 97.7 99.4 99.4 100.9 101.8 102.6 | 103.2 88.2 98.8 101.7 | 97.7 2021 | 103.8 100.7 | | | | | Capacity | | | (percent of | | | 2012 output) | | | 2019 | 137.9 138.0 138.2 138.3 138.5 138.7 138.8 139.0 139.2 139.3 139.5 139.7 | 138.0 138.5 139.0 139.5 | 138.8 2020 | 139.6 139.6 139.6 139.6 139.6 139.5 139.5 139.4 139.4 139.3 139.3 139.2 | 139.6 139.6 139.4 139.3 | 139.5 2021 | 139.2 139.2 | | | | | Utilization | | | (percent) | | | 1999 | 80.7 81.0 80.5 80.5 80.8 80.2 80.2 80.4 79.7 80.6 80.7 80.9 | 80.7 80.5 80.1 80.7 | 80.5 2000 | 80.7 80.5 80.7 80.9 80.5 80.3 80.1 79.3 79.3 78.8 78.3 77.6 | 80.6 80.6 79.6 78.2 | 79.7 2001 | 76.8 76.1 75.7 75.2 74.5 73.8 73.3 72.8 72.5 71.9 71.6 71.7 | 76.2 74.5 72.9 71.8 | 73.8 2002 | 72.1 71.9 72.4 72.5 72.9 73.6 73.4 73.5 73.6 73.3 73.6 73.3 | 72.1 73.0 73.5 73.4 | 73.0 | | | 2003 | 73.8 73.7 73.8 73.2 73.3 73.7 73.9 73.6 74.2 74.3 75.1 75.0 | 73.8 73.4 73.9 74.8 | 74.0 2004 | 75.0 75.6 75.5 75.8 76.4 75.9 76.6 76.9 76.9 77.6 77.5 77.9 | 75.4 76.1 76.8 77.7 | 76.5 2005 | 78.4 79.0 78.4 78.6 78.7 78.6 78.2 78.4 77.5 78.5 78.9 78.9 | 78.6 78.6 78.0 78.8 | 78.5 2006 | 79.4 79.1 78.9 79.2 78.7 78.9 78.5 78.9 78.8 78.3 78.2 79.1 | 79.1 78.9 78.7 78.5 | 78.8 2007 | 78.5 78.6 79.1 79.4 79.1 79.2 79.1 78.7 78.9 78.6 78.9 78.9 | 78.7 79.3 78.9 78.8 | 78.9 | | | 2008 | 78.6 78.1 77.8 77.0 76.7 76.2 75.4 74.6 72.1 71.8 70.2 67.8 | 78.2 76.6 74.1 69.9 | 74.7 2009 | 65.9 65.9 64.7 64.4 63.8 63.7 64.7 65.6 66.2 66.5 67.2 67.2 | 65.5 64.0 65.5 66.9 | 65.5 2010 | 68.0 68.1 69.0 69.7 70.8 70.9 71.4 71.6 71.7 71.9 72.0 72.5 | 68.4 70.5 71.6 72.1 | 70.7 2011 | 72.7 72.8 73.3 72.9 73.0 73.1 73.5 73.8 74.0 74.3 74.0 74.5 | 72.9 73.0 73.8 74.3 | 73.5 2012 | 75.0 75.1 74.7 75.0 74.6 74.7 74.5 74.2 74.1 73.8 74.2 74.7 | 74.9 74.8 74.3 74.2 | 74.5 | | | 2013 | 74.4 74.7 74.5 74.2 74.4 74.5 73.8 74.4 74.5 74.5 74.5 74.5 | 74.5 74.4 74.2 74.5 | 74.4 2014 | 73.6 74.4 75.0 74.9 75.2 75.5 75.8 75.5 75.5 75.5 76.1 75.9 | 74.3 75.2 75.6 75.8 | 75.2 2015 | 75.7 75.2 75.5 75.5 75.5 75.2 75.8 75.5 75.2 75.1 74.9 74.6 | 75.5 75.4 75.5 74.9 | 75.3 2016 | 75.1 74.6 74.3 74.0 73.9 74.0 74.1 73.8 74.0 74.1 74.1 74.4 | 74.7 74.0 74.0 74.2 | 74.2 2017 | 74.8 74.7 74.5 75.3 75.1 75.2 75.1 74.8 74.7 75.7 75.9 75.8 | 74.6 75.2 74.9 75.8 | 75.1 | | | 2018 | 75.5 76.3 76.3 76.6 76.0 76.5 76.7 77.0 76.9 76.8 76.9 77.3 | 76.1 76.4 76.9 77.0 | 76.6 2019 | 76.7 76.3 76.2 75.4 75.4 75.7 75.3 75.7 75.1 74.6 75.2 75.3 | 76.4 75.5 75.4 75.0 | 75.6 2020 | 75.2 75.2 71.4 60.1 62.4 67.2 70.1 71.3 71.4 72.4 73.1 73.7 | 73.9 63.2 70.9 73.1 | 70.3 2021 | 74.6 72.3 | | ------------------------------------------------------------------------------------------------------------------------------------------- <1> The composition of manufacturing is specified in a note for the summary table. <2> Quarterly percentage changes are at annual rates. Annual percentage changes are calculated from annual averages. Table 13 Historical Statistics for Industrial Production, Capacity, and Utilization: Total Industry Excluding Selected High-Technology Industries <1> Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------- | | | Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual ------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) <2> | | | 1999 | .1 .2 -.1 -.1 .5 -.5 .3 .4 -.5 1.2 .2 .6 | .6 .3 .9 5.6 | 1.1 2000 | -.3 .0 .1 .5 -.2 -.1 -.5 -.5 .3 -.4 -.2 -.5 | .6 1.5 -3.2 -2.6 | 1.0 2001 | -.7 -.6 -.3 -.2 -.6 -.5 -.4 -.1 -.4 -.5 -.4 -.1 | -5.9 -4.3 -4.3 -4.4 | -3.9 2002 | .7 -.2 .8 .4 .4 .9 -.3 -.1 .1 -.3 .5 -.6 | 2.6 6.0 1.8 -.6 | .3 | | | 2003 | .7 .0 -.3 -.9 -.1 .0 .3 -.3 .5 .0 .7 -.1 | 1.5 -4.7 .7 2.7 | .2 2004 | .1 .6 -.6 .5 .8 -.9 .8 .0 .0 .9 .2 .7 | 1.9 2.1 1.9 5.3 | 1.7 2005 | .3 .6 -.2 .1 .1 .4 -.4 .2 -2.1 1.2 1.0 .6 | 4.8 1.2 -3.0 2.7 | 2.6 2006 | .1 -.1 .2 .4 -.2 .3 -.1 .3 -.3 -.1 -.1 1.0 | 3.2 1.8 .6 .1 | 1.4 2007 | -.6 1.0 .0 .5 .1 .2 -.1 .2 .3 -.6 .4 -.1 | 2.8 4.0 1.1 -.5 | 1.8 | | | 2008 | -.3 -.5 -.4 -.8 -.7 -.3 -.5 -1.6 -4.5 1.2 -1.0 -2.8 | -2.6 -6.8 -12.8 -14.9 | -4.3 2009 | -2.4 -.7 -1.7 -.9 -1.1 -.4 1.1 1.1 .7 .3 .3 .3 | -20.4 -11.7 6.1 6.0 | -11.5 2010 | 1.1 .2 .6 .3 1.5 .1 .4 .3 .2 -.3 .0 .9 | 7.0 7.5 5.1 .8 | 4.9 2011 | -.2 -.5 1.1 -.4 .2 .3 .5 .5 .0 .7 -.1 .5 | 1.7 1.6 4.6 4.1 | 2.8 2012 | .6 .2 -.5 .7 .2 -.1 .3 -.5 .0 .2 .5 .4 | 3.6 2.1 -.1 1.8 | 2.8 | | | 2013 | -.2 .6 .4 -.2 .1 .2 -.5 .6 .5 -.2 .3 .3 | 3.1 1.4 1.1 2.6 | 1.8 2014 | -.4 .8 .9 .0 .3 .4 .2 -.1 .3 .0 .8 -.1 | 3.0 5.2 2.3 2.7 | 2.9 2015 | -.5 -.5 -.3 -.6 -.4 -.4 .6 -.2 -.4 -.4 -.7 -.6 | -3.1 -5.5 -.1 -5.3 | -1.1 2016 | .8 -.7 -.8 .1 -.1 .4 .2 -.1 .0 .2 -.2 .9 | -2.4 -2.4 1.7 1.1 | -2.1 2017 | .1 -.4 .7 .9 .1 .2 .0 -.5 .0 1.5 .5 .3 | 2.6 5.7 -.7 7.4 | 2.3 | | | 2018 | -.3 .4 .6 .9 -.8 .7 .4 .8 .1 .2 .6 .0 | 2.2 4.5 4.9 4.0 | 3.9 2019 | -.4 -.5 .1 -.6 .2 .0 -.2 .7 -.4 -.4 .9 -.4 | -2.1 -2.3 .9 .2 | .7 2020 | -.4 .1 -4.5 -12.9 .9 6.3 4.2 1.0 -.1 1.0 .9 1.0 | -6.9 -43.2 43.9 9.2 | -7.1 2021 | 1.1 -2.3 | | | | | IP | | | (2012 = 100) | | | 2019 | 109.2 108.6 108.7 108.1 108.3 108.3 108.1 108.9 108.5 108.0 109.0 108.6 | 108.9 108.2 108.5 108.5 | 108.5 2020 | 108.2 108.3 103.4 90.1 90.9 96.7 100.8 101.8 101.6 102.7 103.6 104.7 | 106.6 92.6 101.4 103.6 | 100.7 2021 | 105.9 103.5 | | | | | Capacity | | | (percent of | | | 2012 output) | | | 2019 | 138.0 138.3 138.5 138.8 139.0 139.2 139.5 139.7 139.9 140.1 140.4 140.6 | 138.3 139.0 139.7 140.4 | 139.3 2020 | 140.5 140.6 140.6 140.5 140.5 140.4 140.4 140.4 140.3 140.3 140.2 140.2 | 140.5 140.5 140.4 140.2 | 140.4 2021 | 140.3 140.3 | | | | | Utilization | | | (percent) | | | 1999 | 82.0 81.9 81.6 81.3 81.6 81.0 81.1 81.3 80.7 81.6 81.7 82.0 | 81.8 81.3 81.0 81.8 | 81.5 2000 | 81.6 81.5 81.5 81.8 81.5 81.4 80.9 80.4 80.6 80.2 79.9 79.5 | 81.5 81.6 80.6 79.9 | 80.9 2001 | 78.9 78.3 78.0 77.8 77.3 76.8 76.4 76.3 75.8 75.4 75.0 74.8 | 78.4 77.3 76.2 75.1 | 76.7 2002 | 75.3 75.1 75.7 75.9 76.2 76.9 76.7 76.6 76.7 76.5 76.9 76.6 | 75.3 76.3 76.7 76.7 | 76.3 | | | 2003 | 77.2 77.2 77.0 76.4 76.3 76.4 76.6 76.5 76.9 76.9 77.5 77.4 | 77.1 76.4 76.7 77.3 | 76.9 2004 | 77.6 78.0 77.6 78.0 78.7 78.0 78.7 78.7 78.7 79.5 79.7 80.2 | 77.7 78.2 78.7 79.8 | 78.6 2005 | 80.5 80.9 80.7 80.8 80.8 81.0 80.6 80.7 78.9 79.7 80.4 80.8 | 80.7 80.9 80.1 80.3 | 80.5 2006 | 80.8 80.6 80.6 80.8 80.6 80.7 80.5 80.6 80.2 80.0 79.8 80.5 | 80.7 80.7 80.5 80.1 | 80.5 2007 | 79.9 80.6 80.5 80.9 80.9 81.0 81.0 81.1 81.4 80.9 81.3 81.3 | 80.4 81.0 81.1 81.2 | 80.9 | | | 2008 | 81.1 80.8 80.6 79.9 79.4 79.2 78.8 77.5 74.0 74.8 73.9 71.7 | 80.8 79.5 76.8 73.5 | 77.6 2009 | 69.9 69.3 68.1 67.5 66.7 66.5 67.2 68.1 68.7 69.0 69.3 69.7 | 69.1 66.9 68.0 69.3 | 68.3 2010 | 70.6 70.9 71.5 72.0 73.2 73.5 74.0 74.3 74.6 74.5 74.6 75.4 | 71.0 72.9 74.3 74.8 | 73.3 2011 | 75.3 75.0 75.8 75.6 75.7 75.9 76.3 76.6 76.5 77.0 76.8 77.1 | 75.4 75.7 76.5 76.9 | 76.1 2012 | 77.4 77.4 76.9 77.3 77.3 77.2 77.3 76.8 76.7 76.7 77.0 77.1 | 77.3 77.3 76.9 76.9 | 77.1 | | | 2013 | 76.9 77.3 77.5 77.3 77.3 77.4 76.9 77.4 77.7 77.5 77.7 77.9 | 77.3 77.3 77.3 77.7 | 77.4 2014 | 77.5 78.0 78.7 78.6 78.8 79.0 79.0 78.8 78.9 78.8 79.4 79.1 | 78.1 78.8 78.9 79.1 | 78.7 2015 | 78.6 78.2 77.9 77.3 76.9 76.6 77.0 76.9 76.6 76.3 75.8 75.3 | 78.2 77.0 76.9 75.8 | 77.0 2016 | 75.9 75.3 74.7 74.8 74.7 75.0 75.1 75.0 75.0 75.1 74.9 75.5 | 75.3 74.8 75.1 75.2 | 75.1 2017 | 75.6 75.3 75.8 76.5 76.6 76.7 76.7 76.3 76.3 77.4 77.8 78.0 | 75.6 76.6 76.4 77.7 | 76.6 | | | 2018 | 77.7 78.0 78.3 79.0 78.2 78.7 78.9 79.4 79.3 79.4 79.7 79.6 | 78.0 78.6 79.2 79.6 | 78.8 2019 | 79.1 78.6 78.5 77.9 77.9 77.8 77.5 77.9 77.5 77.1 77.7 77.3 | 78.7 77.9 77.7 77.3 | 77.9 2020 | 77.0 77.0 73.6 64.1 64.7 68.8 71.8 72.5 72.4 73.2 73.9 74.6 | 75.9 65.9 72.2 73.9 | 72.0 2021 | 75.5 73.8 | | ------------------------------------------------------------------------------------------------------------------------------------------- <1> Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components. <2> Quarterly percentage changes are at annual rates. Annual percentage changes are calculated from annual averages. Table 14 Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1> Excluding Selected High-Technology Industries <2> Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------- | | | Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual ------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) <3> | | | 1999 | -.1 .5 -.4 .0 .7 -.7 .0 .6 -.5 1.4 .4 .4 | .7 .3 .0 6.8 | 1.3 2000 | -.3 -.2 .3 .4 -.6 .0 -.3 -1.0 .3 -.4 -.5 -.8 | .4 .8 -3.8 -4.6 | .7 2001 | -.6 -.6 -.2 -.2 -.6 -.5 -.2 -.4 -.2 -.6 -.2 .1 | -7.0 -4.4 -4.5 -4.1 | -4.7 2002 | .7 -.2 .8 .2 .5 1.1 -.4 .1 .1 -.4 .4 -.6 | 3.2 5.4 2.5 -.9 | .4 | | | 2003 | .7 -.3 .0 -1.0 -.1 .3 .0 -.6 .7 .0 .9 -.3 | .8 -4.3 .0 2.9 | .0 2004 | -.1 .7 -.2 .4 .8 -.8 1.0 .4 -.1 1.0 -.1 .7 | 1.5 3.1 3.7 4.8 | 2.0 2005 | .6 .7 -.6 .3 .3 .1 -.5 .3 -1.3 1.4 .8 .1 | 5.3 1.3 -2.2 5.0 | 3.1 2006 | .8 -.4 -.1 .5 -.5 .3 -.4 .5 -.1 -.5 .0 1.5 | 3.1 -.1 -.2 .6 | 1.5 2007 | -.6 .3 .6 .5 .0 .5 .1 -.4 .3 -.6 .3 .0 | 3.0 4.7 1.1 -1.1 | 1.8 | | | 2008 | -.5 -.8 -.5 -1.3 -.7 -.7 -1.1 -1.2 -3.6 -.4 -2.2 -3.3 | -4.2 -9.8 -14.4 -20.8 | -5.9 2009 | -3.1 -.2 -2.0 -.8 -1.1 -.3 1.5 1.2 .8 .1 .9 -.2 | -24.3 -11.6 8.1 6.5 | -13.9 2010 | 1.0 -.3 1.1 .8 1.4 -.1 .6 .0 .0 .1 -.1 .3 | 5.4 9.7 3.8 .4 | 5.1 2011 | .1 .1 .6 -.6 .1 .1 .7 .3 .4 .6 -.3 .7 | 2.3 -.2 4.3 3.9 | 2.5 2012 | .8 .3 -.6 .5 -.5 .2 -.2 -.2 -.2 -.5 .8 .8 | 4.8 -.2 -1.4 .6 | 2.3 | | | 2013 | -.4 .5 -.1 -.5 .3 .2 -1.0 .9 .1 .1 -.1 .0 | 2.8 -.6 -.7 1.5 | .5 2014 | -1.2 1.0 .8 -.2 .2 .3 .5 -.6 .0 -.1 .8 -.3 | -1.2 3.8 1.5 .4 | .8 2015 | -.4 -.7 .3 -.1 .0 -.4 .7 -.3 -.5 .0 -.3 -.4 | -3.0 -1.3 .2 -3.0 | -.7 2016 | .6 -.6 -.2 -.4 .0 .3 .2 -.4 .3 .3 .1 .4 | -.7 -2.6 1.1 2.3 | -1.0 2017 | .6 .0 -.3 1.1 -.2 .1 -.2 -.3 -.2 1.3 .2 -.1 | 3.2 3.4 -1.5 5.0 | 1.9 | | | 2018 | -.4 1.1 .0 .4 -.8 .6 .4 .4 .0 -.1 .2 .6 | 1.5 1.9 3.3 1.7 | 2.2 2019 | -.6 -.5 -.1 -.9 .1 .5 -.4 .6 -.7 -.6 .9 .2 | -2.1 -3.3 .4 -.7 | -.4 2020 | -.1 .0 -5.2 -16.2 3.9 7.9 4.3 1.7 .0 1.4 1.0 .8 | -5.6 -47.3 58.8 12.3 | -7.1 2021 | 1.2 -3.1 | | | | | IP | | | (2012 = 100) | | | 2019 | 104.5 103.9 103.8 103.0 103.1 103.6 103.2 103.7 103.1 102.5 103.4 103.6 | 104.1 103.2 103.3 103.1 | 103.4 2020 | 103.5 103.5 98.1 82.2 85.4 92.2 96.1 97.8 97.8 99.2 100.1 100.9 | 101.7 86.6 97.2 100.1 | 96.1 2021 | 102.1 98.9 | | | | | Capacity | | | (percent of | | | 2012 output) | | | 2019 | 136.0 136.1 136.2 136.3 136.5 136.6 136.8 136.9 137.1 137.2 137.3 137.5 | 136.1 136.5 136.9 137.3 | 136.7 2020 | 137.4 137.4 137.4 137.4 137.3 137.3 137.2 137.1 137.1 137.0 137.0 136.9 | 137.4 137.3 137.1 137.0 | 137.2 2021 | 136.9 136.9 | | | | | Utilization | | | (percent) | | | 1999 | 80.6 80.8 80.2 80.0 80.3 79.5 79.4 79.7 79.1 80.1 80.2 80.4 | 80.5 79.9 79.4 80.2 | 80.0 2000 | 80.0 79.8 79.9 80.1 79.5 79.4 79.1 78.3 78.4 78.0 77.5 76.8 | 79.9 79.7 78.6 77.4 | 78.9 2001 | 76.2 75.7 75.4 75.2 74.7 74.3 74.1 73.7 73.5 73.0 72.8 72.9 | 75.8 74.7 73.7 72.9 | 74.3 2002 | 73.3 73.2 73.7 73.8 74.2 75.1 74.8 74.9 75.0 74.7 75.1 74.7 | 73.4 74.4 74.9 74.8 | 74.4 | | | 2003 | 75.2 75.0 75.1 74.4 74.4 74.6 74.7 74.3 74.9 74.9 75.6 75.4 | 75.1 74.5 74.6 75.3 | 74.9 2004 | 75.4 76.0 75.9 76.2 76.9 76.3 77.1 77.4 77.3 78.1 78.0 78.5 | 75.8 76.5 77.3 78.2 | 76.9 2005 | 78.9 79.4 78.9 79.0 79.1 79.1 78.6 78.7 77.6 78.6 79.1 79.0 | 79.1 79.1 78.3 78.9 | 78.8 2006 | 79.5 79.1 78.8 79.1 78.6 78.7 78.3 78.6 78.4 78.0 77.9 78.9 | 79.1 78.8 78.4 78.3 | 78.7 2007 | 78.3 78.5 78.9 79.2 79.1 79.4 79.4 79.1 79.3 78.8 79.0 79.0 | 78.6 79.2 79.3 79.0 | 79.0 | | | 2008 | 78.6 78.0 77.7 76.7 76.2 75.7 74.9 74.0 71.5 71.3 69.8 67.6 | 78.1 76.2 73.5 69.6 | 74.3 2009 | 65.6 65.6 64.4 64.0 63.4 63.3 64.3 65.2 65.9 66.1 66.9 66.9 | 65.2 63.5 65.2 66.6 | 65.1 2010 | 67.7 67.6 68.5 69.2 70.4 70.4 71.0 71.2 71.3 71.5 71.6 72.0 | 67.9 70.0 71.1 71.7 | 70.2 2011 | 72.2 72.4 73.0 72.7 72.8 72.9 73.5 73.7 74.0 74.4 74.1 74.6 | 72.5 72.8 73.7 74.4 | 73.3 2012 | 75.2 75.3 74.8 75.1 74.7 74.8 74.6 74.4 74.2 73.8 74.3 74.9 | 75.1 74.9 74.4 74.3 | 74.7 | | | 2013 | 74.6 74.9 74.8 74.4 74.6 74.7 74.0 74.6 74.7 74.7 74.7 74.7 | 74.7 74.6 74.4 74.7 | 74.6 2014 | 73.8 74.6 75.2 75.1 75.3 75.5 75.9 75.5 75.5 75.5 76.2 76.0 | 74.5 75.3 75.6 75.9 | 75.3 2015 | 75.7 75.2 75.5 75.5 75.5 75.2 75.8 75.5 75.2 75.1 74.9 74.6 | 75.5 75.4 75.5 74.9 | 75.3 2016 | 75.1 74.5 74.3 74.0 73.9 74.0 74.2 73.8 74.0 74.2 74.2 74.4 | 74.6 74.0 74.0 74.3 | 74.2 2017 | 74.9 74.8 74.6 75.4 75.3 75.4 75.2 75.0 74.9 75.9 76.0 76.0 | 74.8 75.3 75.0 76.0 | 75.3 | | | 2018 | 75.6 76.5 76.5 76.8 76.1 76.5 76.8 77.0 77.0 76.9 77.0 77.4 | 76.2 76.5 76.9 77.1 | 76.7 2019 | 76.8 76.4 76.2 75.5 75.5 75.8 75.4 75.8 75.2 74.7 75.3 75.3 | 76.5 75.6 75.5 75.1 | 75.7 2020 | 75.3 75.3 71.4 59.8 62.2 67.1 70.0 71.3 71.3 72.4 73.1 73.7 | 74.0 63.1 70.9 73.1 | 70.2 2021 | 74.6 72.3 | | ------------------------------------------------------------------------------------------------------------------------------------------- <1> The composition of manufacturing is specified in a note for the summary table. <2> Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components. <3> Quarterly percentage changes are at annual rates. Annual percentage changes are calculated from annual averages. Table 15 Industrial Production: Reliability Estimates Seasonally adjusted ------------------------------------------------------------------------------------------------------------------------------------------------------------------- | Annualized | | | Change | 2012=100 | Percent change |------------------|------------------------------------------------------|------------------------------------------------ | 2020 | 2020 2021 | 2020 2021 Sector | Q3 Q4 | Sept. Oct. Nov. Dec. Jan. Feb. | Sept. Oct. Nov. Dec. Jan. Feb. ------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total index | | | 85th percentile | 43.33 9.67 | 102.80 103.90 104.89 106.04 107.44 105.05 | -.08 1.07 .99 1.19 1.46 -1.84 Current estimate | 43.33 9.22 | 102.80 103.84 104.77 105.84 107.05 104.65 | -.08 1.01 .89 1.02 1.14 -2.24 15th percentile | 43.33 8.89 | 102.80 103.80 104.68 105.67 106.79 104.25 | -.08 .97 .81 .91 .90 -2.59 | | | Manufacturing (SIC) | | | 85th percentile | 57.50 12.78 | 99.44 100.92 101.95 102.76 104.12 101.06 | .06 1.49 1.05 .84 1.42 -2.78 Current estimate | 57.50 12.29 | 99.44 100.85 101.82 102.56 103.83 100.66 | .06 1.43 .96 .73 1.24 -3.06 15th percentile | 57.50 11.91 | 99.44 100.80 101.72 102.37 103.56 100.25 | .06 1.37 .86 .62 1.09 -3.36 | | | Mining | | | 85th percentile | 1.83 4.33 | 114.30 112.38 116.42 117.17 120.28 114.09 | .85 -1.68 3.69 .90 2.99 -4.43 Current estimate | 1.83 3.40 | 114.30 112.24 116.11 116.62 119.03 112.63 | .85 -1.80 3.44 .45 2.06 -5.38 15th percentile | 1.83 2.22 | 114.30 112.10 115.75 116.04 117.84 111.13 | .85 -1.92 3.15 .08 1.33 -6.26 | | | Electric and gas utilities | | | 85th percentile | 16.31 -2.65 | 102.62 104.20 101.62 106.03 106.74 114.54 | -2.16 1.55 -2.47 4.45 1.26 9.41 Current estimate | 16.31 -3.79 | 102.62 104.19 101.56 105.43 104.78 112.53 | -2.16 1.53 -2.52 3.81 -.62 7.40 15th percentile | 16.31 -4.29 | 102.62 104.17 101.47 105.17 103.62 111.46 | -2.16 1.51 -2.62 3.60 -1.98 5.63 | | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. The reliability measures show the likely range of values for the IP indexes after their fifth and final monthly revision. The 15th (85th) percentile estimate is equal to the current estimate plus an amount such that the equivalent measure revised by a lower (higher) amount for only 15 percent of the months since 2008. More information is available at www.federalreserve.gov/releases/g17/g17_technical_qa.htm#reliability. 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. More detailed descriptions of industrial production and capacity utilization are available on the Board's website at www.federalreserve.gov/releases/G17. 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 from the Data Download Program on the Board's website. Instructions for searching for and downloading specific series are provided as well. 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 2012. Manufacturing consists of those industries included in the North American Industry Classification System, or NAICS, definition of manufacturing plus those industries- logging and newspaper, periodical, book, and directory publishing-that have traditionally been considered to be manufacturing and included in the industrial sector. For the period since 2012, the total IP index has been constructed from 299 individual series based on the 2012 NAICS 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 nonindustrial supplies (which are inputs to nonindustrial sectors). Materials are inputs in the manufacture of products. Major industry groups include three-digit NAICS 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 website at www.federalreserve.gov/releases/G17/About.htm. 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 typically 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 and unit values or sales) by a corresponding Fisher price index; the most notable of these fall within the high-technology grouping and include semiconductors. When suitable data on physical product are not available, estimates of output are based on production-worker hours by industry. Data on hours worked by production workers are collected in the monthly establishment survey conducted by the Bureau of Labor Statistics. 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 U.S. 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 the 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 1972. The current formula for the growth in monthly IP (or any of the sub-aggregates) since 1972 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 (p_m) and the estimate for previous month: % Equation not available in ascii file. The IP proportions (typically shown in the first column of the relevant tables in the monthly 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 6 percent. If output in this industry increased 10 percent in a month, then this gain would boost growth in total IP by 6/10 percentage point (0.06 x 10% = 0.6%). To assist users with calculations, the Federal Reserve's website 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/ipweightssa.txt). 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 five 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 75 percent of the source data (in value-added terms) are available; the fraction of available source data increases to 85 percent for estimates in the second month that the estimate is published, 94 percent in the third month, 95 percent in the fourth month, 96 percent in the fifth month, and 96 percent in the sixth month. Data availability by data type in 2018 is summarized in the table below: Availability of Monthly IP Data in Publication Window (Percent of value added in 2018; the numbers may not sum because of rounding.) % Type of data 1st 2nd 3rd 4th 5th 6th Physical product 34 44 54 54 56 56 Production-worker hours 40 40 40 40 40 40 IP data received 75 85 94 95 96 96 IP data estimated 25 15 6 5 4 4 The physical product group includes series based on either monthly or quarterly data. As can be seen in the first row of the table, in the first month, a physical product indicator is available for more than one-half of the series (in terms of value added) that ultimately are based on physical product data (34 percent out of a total of 56 percent). Of the 34 percent, about three-quarters (25 percent of total IP) include series that are derived from weekly physical product data and for which actual monthly data may lag up to several months. On average, quarterly product data are received for the fourth estimate of industrial production. Specifically, quarterly data are available for the third estimate of the last month of a quarter, the fourth estimate of the second month of a quarter, and the fifth estimate of the first month of a quarter. Seasonal Adjustment. Individual series are seasonally adjusted using Census X-13 ARIMA. For series based on production-worker hours, the current seasonal factors were estimated with data through January 2019; for other series, the factors were estimated with data through at least December 2018. Series are pre-adjusted for the effects of holidays or the business cycle when appropriate. For the data since 1972, all seasonally adjusted aggregate indexes are calculated by aggregating the seasonally adjusted indexes of the individual series. Additional documentation and X-13 specifications can be found on the Board's website at www.federalreserve.gov/releases/G17/About.htm. Reliability. The average revision to the level of the total IP index, without regard to sign, between the first and the fourth estimates was 0.28 percent during the 1987-2018 period. The average revision to the percent change in total IP, without regard to sign, from the first to the fourth estimates was 0.22 percentage point during the 1987-2018 period. In most cases (about 85 percent), the direction of the change in output indicated by the first estimate for a given month is the same as that shown by the fourth estimate. Rounding. The published percent changes are calculated from unrounded indexes, and may not be the same as percent changes calculated from the rounded indexes shown in the release. Capacity Utilization Overview. The Federal Reserve Board constructs estimates of capacity and capacity utilization for industries in manufacturing, mining, and electric and gas utilities. For a given industry, the capacity utilization rate is equal to an output index (seasonally adjusted) divided by a capacity index. The Federal Reserve Board's capacity indexes attempt to capture the concept of sustainable maximum output-the greatest level of output a plant can maintain within the framework of a realistic work schedule, after factoring in normal downtime and assuming sufficient availability of inputs to operate the capital in place. Coverage. Capacity indexes are constructed for 89 detailed industries (71 in manufacturing, 16 in mining, and 2 in utilities), which mostly correspond to industries at the three- and four-digit North American Industry Classification System, or NAICS, level. Estimates of capacity and utilization are available for a variety of groups, including durable and nondurable manufacturing, total manufacturing, mining, utilities, and total industry. Manufacturing consists of those industries included in the NAICS definition of manufacturing plus those industries-logging and newspaper, periodical, book, and directory publishing-that have traditionally been considered to be manufacturing and included in the industrial sector. Also, special aggregates are available, such as high-technology industries and manufacturing excluding high-technology industries. Source Data. The monthly rates of capacity utilization are designed to be consistent with both the monthly data on production and the periodically available data on capacity and utilization. Because there is no direct monthly information on overall industrial capacity or utilization rates, the Federal Reserve first estimates annual capacity indexes from the source data. Capacity data reported in physical units from government sources (primarily from the U.S. Geological Survey and the Department of Energy's Energy Information Administration) and trade sources are available for portions of several industries in manufacturing (for example, paper, industrial chemicals, petroleum refining, motor vehicles), as well as for electric utilities and mining; these industries represent about 27 percent of total industrial capacity. When physical product data are unavailable for manufacturing industries, capacity indexes are based on responses to the Bureau of the Census's Quarterly Survey of Plant Capacity (QSPC); these industries account for about 64 percent of total industry capacity. In the absence of utilization data for a few mining and petroleum series, capacity is based on trends through peaks in production (roughly 9 percent of total industry capacity). A detailed description of the methodology used to construct the capacity indexes is available on the Board's website (www.federalreserve.gov/releases/G17/Meth/MethCap.htm). Aggregation Methodology. Monthly capacity aggregates are calculated in three steps: (1) utilization aggregates are calculated on an annual basis through the most recent full year as capacity-weighted aggregates of individual utilization rates; (2) the annual aggregate capacity is derived from the corresponding production and utilization aggregates; (3) the monthly capacity aggregate is obtained by interpolating with a Fisher index of its constituent monthly capacity series. Utilization rates for the individual series and aggregates are calculated by dividing the pertinent monthly production index by the related capacity index. Consistency. A major aim is that the Federal Reserve utilization rates be consistent over time so that, for example, a rate of 85 percent means about the same degree of tightness that it meant in the past. A major task for the Federal Reserve in developing reasonable and consistent time series of capacity and utilization is dealing with inconsistencies between the movements of the industrial production index and the survey-based utilization rates. The McGraw-Hill/DRI Survey, now discontinued, was the primary source of manufacturing utilization rates for many years. This survey of large companies reported, on average, higher utilization rates than those reported by establishments covered by the annual Survey of Plant Capacity (the primary source of factory operating rates through 2006, after which it was discontinued) for the fourteen years they overlapped. Adjustments have been made to keep the industry utilization rates currently reported by the Federal Reserve (now based on the QSPC) roughly in line with rates formerly reported by McGraw-Hill. As a consequence, the rates reported by the Federal Reserve tend to be higher than the rates reported in the Census utilization surveys. Perspective. Over the 1972-2018 period, the average total industry utilization rate was 79.8 percent; for manufacturing, the average factory operating rate was 78.3 percent. Industrial plants usually operate at capacity utilization rates that are well below 100 percent: none of the broad aggregates has ever reached 100 percent. For total manufacturing, utilization rates have exceeded 90 percent only in wartime. The highs and lows in capacity utilization are specific to each series and do not all occur in the same month. References and Release Dates References. The release for the annual revision that was published on March 27, 2019, is available on the Board's website (www.federal reserve.gov/releases/g17/revisions/Current/DefaultRev.htm). A summary of the annual revision that incorporated back to 1972 production and capacity indexes reclassified according to the North American Industry Classification System is available in an article in the Federal Reserve Bulletin, vol. 89 (April 2003), pp. 151-176. A description of the aggregation methods for industrial production and capacity utilization is included in an article in the Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92. The Federal Reserve methodology for constructing industry-level measures of capital is detailed in "Capital Stock Estimates for Manufacturing Industries: Methods and Data" by Mike Mohr and Charles Gilbert (1996), which can be obtained at www.federalreserve.gov/releases/g17/CapitalStockDocLatest.pdf. Industrial Production-1986 Edition contains a more detailed description of the other methods used to compile the industrial production index, plus a history of its development, a glossary of terms, and a bibliography. The major revisions to the IP indexes and capacity utilization since 1990 have been described in the Federal Reserve Bulletin (April 1990, June 1990, June 1993, March 1994, January 1995, January 1996, February 1997, February 1998, January 1999, March 2000, March 2001, March 2002, April 2003, Winter 2004, Winter 2005, March 2006, May 2007, August 2008, August 2009) or in online staff studies (www.federalreserve.gov/releases/g17/articles/rev2010/industrial10.pdf, www.federalreserve.gov/releases/g17/articles/rev2012/industrial12.pdf, www.federalreserve.gov/releases/g17/articles/rev2013/industrial13.pdf). Release Schedule The G.17 release on Industrial Production and Capacity Utilization is published at 9:15 a.m. on: 2020: January 17, February 14, March 17, April 15, May 15, June 16, July 15, August 14, September 15, October 16, November 17, December 15. 2021: January 15, February 17, March 16, April 15, May 14, June 15, July 15, August 17, September 15, October 18, November 16, December 16. This release schedule is available on the Board's website at http://www.federalreserve.gov/releases/g17.