1 FEDERAL RESERVE STATISTICAL RELEASE G.17 (419) 2025 Historical and Annual Revision For release at 12:00 noon (EST) November 24, 2025 Industrial Production and Capacity Utilization: The 2025 Annual Revision The Federal Reserve has revised its index of industrial production (IP) and the related measures of capacity and capacity utilization. The most prominent features of the revision are the incorporation of comprehensive annual production data from the U.S. Census Bureau's 2022 Economic Census (EC), a conversion of the industry-group indexes to the 2022 North American Industry Classification System (NAICS), a conversion of the product-group indexes used for benchmarking many of the series to the 2022 North American Product Classification System (NAPCS), and the integration of survey utilization rate data for 2024.<1> On net, the revisions to total IP for recent years are negative. The cumulative effect of these revisions leaves the level of total IP in August 2025 roughly equal to its level from February 2020, whereas IP was previously estimated to have increased 2.2 percent over that period. The largest revision to annual rates of change is in 2022, where the rate of change is revised down by 1.7 percentage points, while the revisions before 2022 are roughly offsetting on net.<2> After 2022, annual rates of change are revised up by 0.1 percentage point in 2023 and down by 0.7 percentage point in 2024. The revisions to capacity growth for recent years are also negative; from 2022 through 2025, capacity growth is revised down in each year, with an average revision of 0.4 percentage point. The revisions from 2018 through 2021 are generally positive and average 0.1 percentage point per year. The cumulative effect of these downward revisions implies that capacity growth now averages 1.1 percent per year after 2021, revised down from 1.5 percent per year, and remains below the long-run historical average (1972-2024) of 1.9 percent. As with IP and capacity, capacity utilization revised down in recent years. For the 2022-24 period, capacity utilization was 1.7 percentage points lower on average (annual utilization rates are reported as of the fourth quarter). Capacity utilization also revised down modestly in the previous 10 years (2012-21) by, on average, 0.5 percentage point. In the fourth quarter of 2024, capacity utilization for total industry stood at 75.5 percent, 1.7 percentage points below its previous estimate and 4.0 percentage points below its long-run (1972-2024) average. This revision incorporated newly available annual data on both output and prices. The updated IP indexes incorporated new data for manufacturing from the 2022 EC. In addition, the indexes for metallic and nonmetallic minerals were updated with revised annual data for 2020 through 2022 and with new data for 2023 from the U.S. Geological Survey (USGS). Data on prices for 2022 from the Bureau of Labor Statistics (BLS) were also incorporated into most of the manufacturing indexes. Revisions to IP indexes for the post-2022 period are based partly on adjustments to the correction factors that are intended to align the input and product data used for estimating monthly IP with the annual benchmark data. In addition, the monthly estimates of production have been updated to include late-arriving or revised quarterly or monthly indicator data, including information from the BLS's benchmark revisions to the Current Employment Statistics. The monthly IP estimates also reflect updated seasonal factors. The revised estimates of capacity and capacity utilization incorporate data from the Census Bureau's Quarterly Survey of Plant Capacity Utilization (QSPC) for the fourth quarter of 2024 and new data on capacity from the USGS, the Energy Information Administration, and various industry organizations. The revised capacity estimates also include new data on capital spending from the 2022 EC. RESULTS OF THE REVISION Industrial Production Production by Industry Group Manufacturing output is now estimated to have fallen about 2-1/2 percent in 2020 before rebounding about 2-3/4 percent in 2021 and then declining at an average pace of about 1-1/4 percent per year from 2022 through 2024. The annual rate of change is revised down by about 3/4 percentage point per year from 2020 through 2024, on average, with the largest downward revision occurring in 2022. These revisions noticeably change the post-2020 contour of manufacturing output, with a weaker 2021 recovery followed by a decline in 2022 rather than further growth that year, as was previously estimated. The cumulative effects of these revisions leave the level of manufacturing output in August 2025 about 1-1/2 percent below its level from February 2020, whereas manufacturing output was previously estimated to have increased 1-1/2 percent, on net, over that period. Downward revisions to manufacturing output are evident in each of the manufacturing industry groups, though the most notable contributions to overall revisions were made by nondurable goods indexes. The annual rates of change of nondurable goods revised down by about 3/4 percentage point, on average, from 2020 through 2024. The annual pattern of nondurables output is revised materially; in particular, the annual rate of change for 2022 is revised down by 3-1/2 percentage points, led by downward revisions to output growth for chemicals and for plastics and rubber products. For durable goods output growth, the annual pattern is broadly similar to previous estimates, though annual rates of change are also revised down by about 3/4 percentage point per year from 2020 through 2024 on average. The index for industries in scope for manufacturing IP that are not part of manufacturing under the NAICS--that is, logging and publishing--has been declining for much of its recent history; annual rates of change in this industry group are revised down by about 1/4 percentage point per year, on average, from 2020 through 2024. The contour for mining output shows a sharp decline in 2020 then strong gains from 2021 through 2023 before a modest decline in 2024. Revisions to annual rates of change for mining output are slightly negative, on net, though the growth of the index in 2021 is revised up about 1/2 percentage point. The rates of change for utilities output are revised up modestly, on net, with little change to the annual contour. Production by Market Group The index for consumer goods is estimated to have risen in 2020 and 2021 before falling from 2022 through 2024. The rates of change for the index are revised down, on net, across the 2020-24 period, with large negative revisions in 2021 and, especially, 2022. Annual growth in the output of durable consumer goods revised down about 1/4 percentage point from 2020 through 2024, on average, with negative revisions concentrated largely in 2023. Downward revisions to rates of change for nondurable consumer goods output are more substantial, averaging 3/4 percentage point during 2020 through 2024 and featuring particularly large negative revisions of about 1-1/2 percentage points and 2-1/2 percentage points in 2021 and 2022, respectively. The index for business equipment fell significantly in 2020, recovered strongly in 2021 and 2022, and then fell in 2023 and, especially, 2024. Annual rates of change for business equipment were revised down by about 1 percentage point per year, on average, from 2020 through 2024, with a particularly large downward revision of about 3-3/4 percentage points in 2022. The index for defense and space equipment is revised down by about 2-1/4 percentage points per year, on average, from 2020 through 2024, with downward revisions in every year. The indexes for construction supplies and business supplies are estimated to follow a similar contour to each other, falling in 2020, rising in 2021, and then declining each year from 2022 through 2024. Annual rates of change for the output of construction supplies and of business supplies are revised down by an average of about 1/2 percentage point and 1 percentage point, respectively, from 2020 through 2024. The index for materials is estimated to have dropped in 2020 before rising throughout 2021 and through 2024, a pattern that is revised down modestly on average. Within materials, annual rates of change for non-energy materials are revised down modestly, on average, led by durable non-energy materials. Annual rates of change for energy materials are revised down on average. Capacity Total industrial capacity is estimated to have risen at a modest pace from 2022 through 2025, with capacity, on average, increasing in manufacturing, mining, and utilities. Overall capacity is expected to rise 1-1/2 percent in 2025. Annual industrial capacity growth is revised down by an average of about 1/2 percentage point per year from 2022 through 2025, with the largest downward revision of about 1 percentage point occurring in 2023. Manufacturing capacity is estimated to have grown about 1/2 percent per year, on average, from 2022 through 2025--a pace that is well below the long-run (1972-2024) average growth of about 2 percent per year. Capacity growth has increased sequentially from 2022 through 2025, and growth in 2025 is expected to be just over 1 percent. Average annual growth is revised down by about 1/2 percentage point per year from 2022 through 2025, with negative revisions to both durable goods and nondurable goods but positive revisions, on average, to other manufacturing. Mining capacity is estimated to have risen in the 2022-24 period before modestly declining in 2025, resulting in an average annual growth rate of about 1-1/4 percent, above the long-run (1972-2024) average pace. Mining capacity is expected to decline about 1/4 percent in 2025. The annual rate of change for mining capacity is revised down by about 1/2 percentage point per year, on average, from 2022 through 2025, with a larger downward revision in 2023. Capacity for electric and gas utilities rose at a solid pace of about 3-1/4 percent per year, on average, from 2022 through 2025--a pace that is faster than the long-run (1972-2024) average growth rate of about 2-1/4 percent per year. Utilities capacity is expected to grow about 4-1/2 percent in 2025. Revisions to the annual rates of utilities capacity growth were small on average. Capacity Utilization Capacity utilization for total industry moved down in 2020 to 74.5 percent, jumped to 78.3 percent in 2021, and then declined steadily to 75.5 percent in 2024, about 4 percentage points below its long-run (1972-2024) average of 79.5 percent. On average, utilization is revised down about 1-1/2 percentage points from 2021 through 2024. In August 2025, capacity utilization is estimated to have stood at 75.8 percent. Capacity utilization at manufacturers rose to 78.4 percent in 2021--roughly matching its long-run (1972-2024) average of 78.2 percent--and then declined, reaching 74.8 percent in 2024. Manufacturing utilization between 2021 and 2024 is revised down about 1-1/4 percentage points on average. In August 2025, manufacturing utilization stood at 75.6 percent. Within manufacturing, revisions to capacity utilization rates in 2024 were mostly negative across industries. In durables manufacturing, utilization is revised down by about 1-1/4 percentage points, on average, from 2021 through 2024, with widely varying revision patterns across industries. Of particular note, the indexes for machinery and for transportation equipment made large contributions to negative revisions, while the index for electrical equipment, appliances, and components made partly offsetting positive contributions. In nondurables manufacturing, utilization is revised down by about 1-1/4 percentage points, on average, from 2021 through 2024. Of particular note, the index for chemicals made large contributions to negative revisions. The capacity utilization rate for mining jumped to 81.5 percent in 2021 and rose thereafter to 83.4 percent in 2024, lower than its long-run (1972-2024) average rate of 85.2 percent. Utilization at mines is revised down by about 6 percentage points, on average, from 2021 through 2024, driven largely by lower utilization in oil and gas extraction and in support activities for mining. The operating rate for electric and gas utilities has been well below its long-run (1972-2024) average of 84.3 percent since 2007 and stood at 72.2 percent in 2024; utilization in utilities is revised up by about 1 percentage point, on average, between 2021 and 2024. TECHNICAL ASPECTS OF THE REVISION The IP indexes represent the level of real output relative to a base year. At the monthly frequency, movements of the indexes are based on indicators that are derived using industry-specific data from a variety of government and private sources. The monthly production indexes are anchored to annual benchmarks that are less timely but typically based on more comprehensive data. In most cases, the annual benchmark is the nominal gross output reported by the Census Bureau deflated by a suitable price index. Annual revisions to the IP and capacity measures generally involve (1) incorporating new and revised annual benchmark data on output, prices, and value-added proportions; (2) incorporating new monthly or quarterly data that were revised or that arrived too late to be included in the regular six-month reporting window for monthly IP; (3) updating seasonal adjustment factors; (4) updating the methods used to construct the indexes; and (5) introducing changes to the industry- or market-group structure of the indexes based on changes to underlying data sources. Because the current annual revision incorporates an EC, it includes more innovations and updates than are typical. In particular, the current revision reclassifies the IP and capacity indexes from the 2017 NAICS to the 2022 NAICS, updates the aggregation weights for some IP indexes to incorporate data on product shipments based on the 2022 NAPCS rather than the previously used 2017 NAPCS-based shipments, and updates the allocations of IP industry-group indexes to market groups based on the Bureau of Economic Analysis's (BEA) 2017 input-output (I-O) tables (the previous allocations were based on I-O tables through 2012). Annual Benchmark Data on Output, Prices, and Value-Added Proportions Output The annual benchmark output indexes for IP are measures of real gross output at the six-digit NAICS (2022) level. The Census Bureau provides annual figures for value added and the cost of materials for manufacturing industries, which can be summed to obtain nominal gross output. The benchmark indexes for this revision incorporated information for 2022 from the EC. New annual data were also incorporated into other indexes not in the scope of the EC. The benchmark indexes for metallic and nonmetallic mineral mining were updated with newly available data from 2020 through 2023 from the USGS. Benchmarks for logging and publishing were not advanced because of a lack of new data. Prices To obtain individual benchmarks of real gross output, the measures of nominal gross output are deflated by annual price deflators. In general, the benchmark industry price deflators consist of price indexes from the BEA through 2011 that are extended through 2022 with the related producer price indexes (PPIs) from the BLS.<3> However, for a few selected industries, the annual price deflators are constructed by the Federal Reserve.<4> Value-Added Proportions (Weights for Aggregation) The IP system is organized as a hierarchical structure where the individual production indexes are combined using a version of the Fisher ideal index formula to construct broader measures of production. The weights that are used to combine individual IP measures into more aggregate measures are based on the value added from the industry, calculated as gross output less cost of materials. For IP indexes that are defined at the six-digit (or more aggregate) NAICS level, the value-added weights are derived from either the EC or the Annual Survey of Manufacturers. For IP indexes that cover only part of a six-digit NAICS industry, the aggregation weights were constructed by allocating value added (as defined by the Census Bureau) for a six-digit industry across the various components of IP that compose that industry. The allocation of value added across each component was determined by that component's share of the industry's overall product shipments. This annual revision used data on product shipments based on the new 2022 NAPCS; previously, data on product shipments were based on the 2017 NAPCS. Missing values for specific NAPCS-based products were imputed where necessary. The incorporation of NAPCS is discussed in more detail below. The Federal Reserve derives estimates of value added for the electric and gas utility industries from annual revenue and expense data issued by other organizations. For electric utilities, the measures of value added incorporate data from the Energy Information Administration of the U.S. Department of Energy and from the Edison Electric Institute. For gas utilities, the value-added estimates incorporate data from the American Gas Association. The weights for aggregation for mining industries are derived from value-added data from the EC. Figures for value added for mining industries in the years between the quinquennial EC are estimated based on both output and price changes for the industry. The weights for aggregation, expressed as value added per unit of output, were estimated with data on producer prices for the period after 2022. Conversion to the 2022 North American Industry Classification System IP and capacity utilization are structured to follow a single-industry classification system. With this revision, the IP and capacity indexes were classified according to the 2022 NAICS; previously, they were classified according to the 2017 NAICS. To maintain a consistent time series, the indexes were converted to the 2022 NAICS for the period from 1972 forward. For the industrial sector, there were several differences between the 2017 and the 2022 NAICS. A few IP indexes were reclassified to reflect the new NAICS structure, including two previously unpublished indexes that were dropped because of the new structure. The reclassifications within the IP system include the following: Gold and Silver Ore Mining Two 2017 NAICS categories, gold ore mining (NAICS 212221) and silver ore mining (NAICS 212222), were combined into a single 2022 NAICS category: gold ore and silver ore mining (NAICS 212220). This consolidation did not affect the number of IP indexes, as the IP system maintained one index for silver ore mining and another index for gold ore mining under both the 2017 and 2022 NAICS. Benchmark data for mine production of gold and mine production of silver are available separately from the USGS, so the benchmarking of these indexes is not affected by the change to the NAICS structure. The monthly indexes are similarly informed by separate USGS data for gold and silver mining. Hosiery, Sock, and Other Apparel Knitting Mills Two 2017 NAICS categories, hosiery and sock mills (NAICS 31511) and other apparel knitting mills (NAICS 31519), were combined into a single 2022 NAICS category: apparel knitting mills (NAICS 31512). Because of (1) the lack of reliable product-level data tracking each index separately and (2) the small value-added proportion of each separate index, IP indexes separately tracking hosiery and sock mills (2017 NAICS 31511) and other apparel knitting mills (2017 NAICS 31519) were removed. An apparel knitting mills index will continue to be produced. Cut and Sew Apparel Manufacturing A single 2022 NAICS five-digit industry for cut and sew apparel manufacturing (except contractors) (NAICS 31525) was formed from three different five-digit industries under the 2017 NAICS: men's and boys' cut and sew apparel manufacturing (NAICS 31522); women's, girls', and infants' cut and sew apparel manufacturing (NAICS 31524); and other cut and sew apparel manufacturing (NAICS 31528). The IP system maintained one index for men's and boys' cut and sew apparel manufacturing and one combined index for women's, girls', and other cut and sew apparel manufacturing under the 2017 NAICS. Because of (1) the lack of reliable product-level data tracking each index separately and (2) the small value-added proportion of each separate index, these separate IP indexes have been removed. A combined index of cut and sew apparel manufacturing (except contractors) will continue to be produced. Battery Manufacturing Two 2017 NAICS categories, storage battery manufacturing (NAICS 335911) and primary battery manufacturing (NAICS 335912), were combined into a single 2022 NAICS category: battery manufacturing (NAICS 335910). This consolidation did not affect the number of IP indexes, as the IP system maintained separate indexes for storage battery manufacturing and primary battery manufacturing under both the 2017 and 2022 NAICS. Product-level shipments data from the Census Bureau, as well as data on lithium-ion battery production capacity from a private source, are used to construct benchmarks for the continuing indexes. Automobile and Light Duty Motor Vehicle Manufacturing Two 2017 NAICS categories, automobile manufacturing (NAICS 336111) and light truck and utility vehicle manufacturing (NAICS 336112), were combined into a single 2022 NAICS category: automobile and light duty motor vehicle manufacturing (NAICS 336110). This consolidation did not affect the number of IP indexes, as the IP system maintained two indexes for automobile manufacturing and light truck and utility vehicle manufacturing under both the 2017 and 2022 NAICS. Product-level shipments data from the Census Bureau and data from private sources are used to construct benchmarks for the continuing data. Detailed private data and staff estimates are used to inform the monthly indexes. Paper Mills Two 2017 NAICS categories, paper (except newsprint) mills (NAICS 322121) and newsprint mills (NAICS 322122), were combined into a single 2022 NAICS category: paper mills (NAICS 322120). This consolidation did not affect the number of IP indexes, as the IP system maintained one index for paper (except newsprint) mills and newsprint mills under both the 2017 and 2022 NAICS. Product-level shipments data from the Census Bureau are used to construct benchmarks for the continuing data. Detailed private data are used to inform the monthly indexes. Publishing Two 2017 NAICS categories--newspaper, periodical, book, and directory publishers (NAICS 5111) and other information services (NAICS 5191)--were combined into a single 2022 NAICS category: newspaper, periodical, book, and directory publishers (NAICS 5131). Despite the consolidation, benchmark data from the 2022 Service Annual Survey provided sufficient industry detail for the number and content of relevant IP indexes to remain the same. Each IP index linked to a 2022 NAICS code beginning with 5131 includes all activities that fall under the scope of the corresponding 2017 NAICS code beginning with 5111 and omits all activities that fall outside of that scope. Conversion to the 2022 North American Product Classification System As noted earlier, this annual revision uses data on product shipments classified by NAPCS to construct annual benchmarks and value-added weights for those IP indexes that are defined as subsets of a given six-digit NAICS industry. Product-shipment data are also used for updating market-group allocations. For IP indexes that are more disaggregated than the six-digit NAICS level, the calculations for the benchmarks and value-added weights involve summing product shipments for all products associated with the particular IP index. This process is complicated for a few reasons. First, the NAPCS structure is independent of the NAICS structure, so a NAPCS-NAICS crosswalk was needed. Second, NAPCS products may be produced across multiple industries and sectors, so extra care was required to map the product to the appropriate IP index. Third, the non-nested structure of NAPCS and NAICS combined with numerous instances of nondisclosed data cells introduced an additional hurdle for imputations. With this revision, annual benchmarks and value-added weights for relevant IP indexes were calculated at the level of 2022 NAPCS categories; previously, they were calculated based on the 2017 NAPCS. The Census Bureau produces a two-directional mapping between the 2017 and 2022 NAPCS codes. Where a 2017 NAPCS code was discontinued, the closest matching 2022 NAPCS code(s) produced within the relevant NAICS industry (or industries) was (were) included in product shipments for the benchmarks. Where data were not disclosed at the desired industry disaggregation, the closest appropriate industry aggregate for the product was used to construct the benchmarks. Updating Market-Group Allocations The IP market groups classify industrial output according to the expected use of the output. The categories of market groups are final products (consumer goods and equipment), intermediate products that are used as inputs outside of the industrial sector (construction and business supplies), and materials that are used as inputs within the industrial sector (materials). Most industries in the IP index have their output allocated to multiple market groups. For example, a large share of ice cream production is purchased by consumers, but a sizable share is also sold to restaurants and other businesses outside the industrial sector and, hence, is part of business supplies. The market group shares for the individual IP indexes are derived using relationships in the I-O tables issued by the BEA. This revision updates the market-group assignments and shares based on the 2017 I-O tables. Previously, the market groups and weights had been based on the 1997, 2002, 2007, and 2012 versions of the tables. The incorporation of the 2017 I-O tables generally affected the market-group shares beginning in 2013. The shares are assumed to evolve linearly between each I-O table year and to be constant beginning with the last available year for the I-O tables. In general, the output of an industry is not split among all of the possible market groups--just those to which a significant share (roughly 10 percent or more) of its output is destined. The I-O tables reported that a few industries sent their output to markets in amounts that surpassed that threshold for the first time in 2017. For these industries, the output was allocated to the newly important market in 2017 and in later years, and the output was also allocated to the market in previous years, with the shares for the earlier years reflecting the relatively smaller importance in the 1997, 2002, 2007, and 2012 I-O tables. Revised Quarterly and Monthly Data This revision incorporated source data on production, shipments, and inventories that became available or were revised after the regular six-month reporting window for monthly IP was closed. These data were released with too great of a lag to be included with monthly IP estimates but were available for inclusion in the annual revision. Revised Seasonal Factors The IP indexes are adjusted to remove from the underlying data the predictable movements related to timing, holiday, workday, and monthly or quarterly seasonal patterns. Individual indexes are adjusted using the Census X-13ARIMASEATS seasonal adjustment program. The seasonal factors are based on the full history of data back to 1972, where available. Seasonal factors for indexes based on production-worker hours were updated with data through August 2025. The updated factors for the physical-product-based indexes used data through August 2025, where available. Seasonal factors for unit motor vehicle assemblies have been updated, and projections through September 2026 are available on the Board's website at https://www.federalreserve.gov/releases/g17/mvsf.htm. These factors are based on production data through January 2025 and were revised back to January 2020. The seasonal factors explicitly incorporate the holiday schedule for the vehicle assembly lines specified in the latest collective bargaining agreements with domestic manufacturers. The seasonal factors identify production data from January 2024 and January 2025 as outliers due to unseasonably cold weather and the effect of snowstorms. Methodological Changes to Individual Production and Capacity Indexes Change in Source Data for One Production Index The source data for the index for speed changers, industrial high-speed drive, and gear manufacturing and for mechanical power transmission equipment manufacturing (NAICS 333612 and NAICS 333613, respectively) have been updated. This index previously reflected data on shipments of gears from the American Gear Manufacturers Association (AGMA) in addition to data on production-worker hours. The AGMA report was discontinued, so beginning in 2022 the series is based on production-worker hours for the industry. Consolidation of Individual Capacity Indexes for Textile Mills Manufacturing Capacity estimates for the textile mills subsector have been consolidated to the three-digit NAICS level (NAICS 313). Previously, separate capacity series were maintained for fiber, yarn, and thread mills (NAICS 3131); fabric mills (NAICS 3132); and textile and fabric finishing and fabric coating mills (NAICS 3133). This methodological update reflects recent changes to the QSPC, which implemented a revised industry classification scheme with its new sample based on the 2022 NAICS. As a result, since the first quarter of 2025, QSPC data are no longer available at the four-digit NAICS level for these textile industries. The reclassification of the QSPC accounts for structural changes in the U.S. manufacturing landscape, where certain subsectors now represent a smaller share of economic activity than when the survey was initially designed. Notice Data Availability and Publication Changes Files containing the revised data and the text and tables from this release are available on the Board's website at https://www.federalreserve.gov/releases/g17, as are updated data for the annual revision and for all of the regularly issued series on IP, capacity, and capacity utilization. Other changes are listed on the Board's website at https://www.federalreserve.gov/releases/g17/g17_revision_series.htm. <1> The revision affected rates of change for IP from 1972 forward. When necessary to maintain consistency with any revisions to the data for 1972 and subsequent years, the levels of production for the years before 1972 were multiplied by a constant. However, the rates of change in IP for the years before 1972 were not revised. Utilization rates and capacity growth rates were revised minimally between 1968 and 1971 but were unchanged before then. <2> Rates of change are calculated as the percentage change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year specified. <3> The BEA price deflators were discontinued at the six-digit NAICS level after 2011. Overall, at the industry level, the BEA and PPI measures are quite similar, as the BEA used weighted product-level PPIs to derive its industry-level shipments deflator. <4> For selected industries, the Federal Reserve constructs price indexes from alternative sources. These industries include computer storage device manufacturing (NAICS 334112), semiconductor and related device manufacturing (NAICS 334413), and pharmaceutical preparation manufacturing (NAICS 325412). 1Table 1A Industrial Production : Total Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <1> --------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) | | | 1995 | .2 -.1 .2 -.2 .5 .3 -.4 1.3 .4 -.2 .3 .3 | 4.3 1.4 4.0 3.3 | 4.7 1996 | -.6 1.5 -.1 1.0 .7 .8 .0 .5 .6 .0 .9 .6 | 2.7 8.9 5.4 5.9 | 4.6 | | | 1997 | .2 1.2 .6 .1 .6 .5 .9 1.0 .9 .9 .8 .4 | 7.9 6.0 9.7 10.5 | 7.3 1998 | .4 .2 .0 .3 .7 -.6 -.4 2.1 -.1 .7 -.1 .5 | 4.5 2.7 3.2 5.9 | 5.9 1999 | .4 .6 .2 .2 .6 -.1 .6 .4 -.4 1.2 .5 .8 | 4.9 4.0 3.5 6.9 | 4.5 2000 | -.1 .3 .4 .6 .3 .0 -.2 -.3 .5 -.4 .0 -.3 | 3.5 4.6 -.4 -1.0 | 3.6 2001 | -.5 -.7 -.2 -.4 -.5 -.5 -.6 -.1 -.5 -.3 -.6 .0 | -4.6 -4.7 -5.5 -4.2 | -3.0 | | | 2002 | .7 .0 .7 .5 .4 .8 .0 -.1 .1 -.2 .6 -.6 | 2.8 6.2 2.4 .0 | .3 2003 | .9 .1 -.3 -.6 .0 .1 .5 -.2 .6 .1 .7 .0 | 2.7 -2.8 2.7 3.8 | 1.4 2004 | .2 .6 -.4 .4 .7 -.8 .7 .1 .1 .9 .2 .8 | 2.7 2.1 2.2 5.7 | 2.6 2005 | .4 .7 -.1 .2 .1 .4 -.3 .3 -1.9 1.2 1.1 .5 | 5.8 2.3 -1.7 3.8 | 3.4 2006 | .2 .0 .2 .3 .0 .3 -.1 .4 -.2 -.1 .0 1.0 | 4.0 2.4 1.6 .9 | 2.3 | | | 2007 | -.3 .9 .2 .7 .1 .1 -.1 .2 .2 -.3 .5 .0 | 4.1 4.8 .6 1.2 | 2.6 2008 | -.1 -.4 -.3 -.6 -.6 -.2 -.4 -1.6 -4.4 1.0 -1.3 -2.8 | -1.2 -5.7 -12.2 -16.1 | -3.4 2009 | -2.5 -.6 -1.6 -.8 -1.0 -.4 1.1 1.1 .9 .3 .4 .4 | -20.8 -10.9 6.4 6.8 | -11.4 2010 | 1.1 .4 .7 .3 1.4 .2 .4 .4 .3 -.3 .1 1.0 | 8.2 7.8 5.3 1.7 | 5.6 2011 | -.2 -.4 1.0 -.3 .1 .3 .5 .7 -.1 .7 .0 .5 | 2.2 1.7 4.7 4.2 | 3.2 | | | 2012 | .6 .3 -.5 .7 .2 .0 .2 -.4 -.1 .3 .4 .2 | 4.0 2.6 -.1 1.9 | 3.1 2013 | .0 .5 .4 -.1 .1 .2 -.3 .6 .5 -.1 .2 .2 | 3.0 1.8 1.6 2.7 | 2.0 2014 | -.4 .8 1.0 .1 .4 .3 .2 -.2 .3 .0 .6 .0 | 2.8 5.6 2.2 2.2 | 3.0 2015 | -.8 -.6 -.3 -.5 -.4 -.3 .6 -.2 -.3 -.5 -.7 -.5 | -4.4 -5.4 .3 -5.4 | -1.4 2016 | .5 -.5 -.7 .3 -.2 .5 .1 -.2 -.1 .0 -.4 .7 | -2.6 -1.3 .9 -.6 | -2.2 | | | 2017 | -.3 -.4 .7 1.0 .1 .2 -.2 -.4 .1 1.2 .2 .2 | .0 6.0 -1.2 5.7 | 1.2 2018 | .0 .2 .5 1.1 -.9 .8 .2 .6 .1 -.1 .1 .0 | 2.2 4.7 3.4 .8 | 3.2 2019 | -.7 -.5 .0 -.6 .1 .0 -.5 .7 -.3 -.8 .5 -.2 | -3.8 -2.6 -.3 -2.3 | -.8 2020 | -.7 .3 -3.9 -13.2 1.7 6.6 3.7 1.0 .0 .8 .4 1.3 | -6.7 -41.6 43.6 7.5 | -7.1 2021 | .5 -3.3 2.9 .2 .9 .4 .5 -.2 -1.2 1.3 .7 -.3 | 1.0 6.9 1.8 3.3 | 4.4 | | | 2022 | -.4 .6 .6 .0 -.1 -.3 .2 -.1 .2 .0 -.3 -1.2 | 1.0 1.9 -.2 -2.1 | 1.7 2023 | .7 .1 .4 .2 -.3 -.8 .8 -.1 .2 -.5 .4 -.3 | .3 .2 .6 -1.1 | -.2 2024 | -1.4 1.1 .2 -.2 .6 .0 -.9 .5 -.6 -.3 -.2 1.0 | -2.6 2.7 -2.3 -1.5 | -.7 2025 | -.3 1.0 -.1 .2 -.1 .4 -.2 -.1 | 4.2 2.3 | | | | IP (2017=100) | | | 1995 | 71.3 71.2 71.3 71.2 71.5 71.8 71.5 72.4 72.7 72.6 72.8 73.0 | 71.3 71.5 72.2 72.8 | 71.9 1996 | 72.6 73.7 73.6 74.3 74.9 75.4 75.5 75.8 76.3 76.3 77.0 77.5 | 73.3 74.9 75.9 77.0 | 75.3 | | | 1997 | 77.7 78.6 79.1 79.2 79.6 80.0 80.7 81.5 82.2 82.9 83.6 84.0 | 78.4 79.6 81.4 83.5 | 80.7 1998 | 84.3 84.5 84.5 84.8 85.3 84.8 84.5 86.2 86.2 86.8 86.7 87.1 | 84.4 85.0 85.6 86.9 | 85.5 1999 | 87.5 88.0 88.2 88.4 89.0 88.9 89.4 89.8 89.4 90.5 91.0 91.7 | 87.9 88.8 89.6 91.0 | 89.3 2000 | 91.5 91.8 92.2 92.7 92.9 93.0 92.8 92.6 93.0 92.6 92.6 92.3 | 91.8 92.9 92.8 92.5 | 92.5 2001 | 91.9 91.3 91.1 90.8 90.4 89.9 89.3 89.2 88.7 88.5 88.0 87.9 | 91.4 90.3 89.1 88.1 | 89.8 | | | 2002 | 88.5 88.5 89.2 89.6 90.0 90.7 90.7 90.6 90.7 90.5 91.0 90.5 | 88.7 90.1 90.6 90.6 | 90.0 2003 | 91.2 91.3 91.1 90.6 90.5 90.7 91.1 90.9 91.5 91.6 92.2 92.3 | 91.2 90.6 91.2 92.0 | 91.3 2004 | 92.4 93.0 92.6 92.9 93.6 92.9 93.6 93.6 93.7 94.5 94.8 95.5 | 92.6 93.1 93.6 95.0 | 93.6 2005 | 95.9 96.6 96.4 96.7 96.7 97.2 96.9 97.2 95.3 96.5 97.5 98.0 | 96.3 96.9 96.5 97.3 | 96.7 2006 | 98.2 98.2 98.5 98.8 98.8 99.1 99.0 99.5 99.3 99.2 99.2 100.2 | 98.3 98.9 99.3 99.5 | 99.0 | | | 2007 | 99.8 100.8 101.0 101.6 101.7 101.8 101.7 101.9 102.1 101.8 102.3 102.4 | 100.5 101.7 101.9 102.2 | 101.6 2008 | 102.2 101.8 101.5 100.9 100.3 100.0 99.7 98.1 93.8 94.7 93.5 90.8 | 101.9 100.4 97.2 93.0 | 98.1 2009 | 88.6 88.0 86.7 85.9 85.1 84.7 85.7 86.6 87.4 87.6 88.0 88.4 | 87.8 85.2 86.6 88.0 | 86.9 2010 | 89.3 89.7 90.3 90.6 91.8 92.0 92.3 92.7 93.0 92.7 92.8 93.7 | 89.8 91.5 92.7 93.0 | 91.7 2011 | 93.5 93.1 94.1 93.8 93.9 94.2 94.6 95.3 95.2 95.9 95.8 96.4 | 93.6 93.9 95.0 96.0 | 94.6 | | | 2012 | 96.9 97.2 96.7 97.4 97.7 97.7 97.9 97.5 97.4 97.7 98.1 98.3 | 97.0 97.6 97.6 98.0 | 97.5 2013 | 98.3 98.8 99.2 99.1 99.2 99.4 99.1 99.7 100.2 100.1 100.3 100.5 | 98.8 99.2 99.6 100.3 | 99.5 2014 | 100.2 100.9 101.9 102.0 102.4 102.7 103.0 102.8 103.1 103.1 103.7 103.7 | 101.0 102.4 102.9 103.5 | 102.4 2015 | 102.9 102.2 101.9 101.3 100.9 100.6 101.2 101.0 100.8 100.3 99.5 99.0 | 102.3 100.9 101.0 99.6 | 101.0 2016 | 99.6 99.0 98.3 98.6 98.4 98.9 99.0 98.9 98.7 98.8 98.3 99.0 | 99.0 98.6 98.9 98.7 | 98.8 | | | 2017 | 98.8 98.4 99.0 100.0 100.1 100.3 100.1 99.7 99.8 101.0 101.3 101.5 | 98.7 100.2 99.9 101.3 | 100.0 2018 | 101.5 101.7 102.2 103.3 102.4 103.2 103.4 104.0 104.1 104.0 104.1 104.1 | 101.8 103.0 103.8 104.0 | 103.2 2019 | 103.4 102.8 102.9 102.3 102.4 102.4 101.9 102.6 102.3 101.4 101.9 101.7 | 103.0 102.4 102.3 101.7 | 102.3 2020 | 101.0 101.4 97.4 84.6 86.0 91.6 95.0 96.0 96.0 96.7 97.1 98.4 | 99.9 87.4 95.6 97.4 | 95.1 2021 | 98.9 95.6 98.4 98.6 99.4 99.8 100.3 100.0 98.9 100.2 100.9 100.6 | 97.6 99.3 99.7 100.5 | 99.3 | | | 2022 | 100.2 100.8 101.4 101.4 101.3 101.0 101.2 101.1 101.3 101.3 101.0 99.8 | 100.8 101.3 101.2 100.7 | 101.0 2023 | 100.5 100.6 101.0 101.3 100.9 100.1 100.9 100.8 101.0 100.5 100.9 100.6 | 100.7 100.8 100.9 100.6 | 100.8 2024 | 99.2 100.3 100.5 100.2 100.9 100.9 100.0 100.4 99.8 99.5 99.3 100.3 | 100.0 100.7 100.1 99.7 | 100.1 2025 | 100.1 101.1 101.0 101.2 101.1 101.6 101.3 101.3 | 100.7 101.3 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from April 2025 through August 2025 are subject to further revision in the upcoming monthly releases. <1> Annual averages of industrial production are calculated from not seasonally adjusted indexes. 1Table 1B Capacity and Utilization: Total Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual --------------------------------------------------------------------------------------------------------------------------------------------- | | | Capacity | | | (percent of | | | 2017 output) | | | 1995 | 84.0 84.3 84.6 84.9 85.2 85.5 85.8 86.1 86.5 86.8 87.2 87.6 | 84.3 85.2 86.1 87.2 | 85.7 1996 | 88.0 88.4 88.8 89.2 89.6 90.1 90.5 90.9 91.3 91.8 92.2 92.6 | 88.4 89.6 90.9 92.2 | 90.3 | | | 1997 | 93.1 93.5 94.0 94.5 95.0 95.5 96.1 96.6 97.2 97.8 98.5 99.1 | 93.5 95.0 96.6 98.5 | 95.9 1998 | 99.8 100.5 101.1 101.8 102.4 103.0 103.6 104.2 104.7 105.2 105.7 106.2 | 100.5 102.4 104.2 105.7 | 103.2 1999 | 106.7 107.1 107.5 108.0 108.4 108.8 109.1 109.5 109.9 110.3 110.7 111.0 | 107.1 108.4 109.5 110.7 | 108.9 2000 | 111.4 111.7 112.1 112.5 112.8 113.2 113.5 113.9 114.2 114.6 114.9 115.3 | 111.7 112.8 113.9 114.9 | 113.3 2001 | 115.7 116.1 116.4 116.8 117.2 117.5 117.8 118.2 118.5 118.7 119.0 119.2 | 116.1 117.2 118.2 119.0 | 117.6 | | | 2002 | 119.4 119.6 119.8 119.9 120.0 120.0 120.1 120.1 120.1 120.1 120.0 120.0 | 119.6 120.0 120.1 120.0 | 119.9 2003 | 119.9 119.9 119.8 119.8 119.7 119.7 119.7 119.7 119.6 119.6 119.6 119.6 | 119.9 119.7 119.7 119.6 | 119.7 2004 | 119.6 119.5 119.5 119.5 119.4 119.4 119.4 119.4 119.4 119.4 119.5 119.5 | 119.5 119.4 119.4 119.5 | 119.5 2005 | 119.6 119.7 119.9 120.0 120.2 120.3 120.5 120.7 120.9 121.1 121.3 121.5 | 119.7 120.2 120.7 121.3 | 120.5 2006 | 121.7 121.9 122.1 122.3 122.5 122.7 122.9 123.2 123.5 123.7 124.0 124.3 | 121.9 122.5 123.2 124.0 | 122.9 | | | 2007 | 124.6 124.8 125.1 125.4 125.6 125.8 125.9 126.1 126.1 126.2 126.2 126.2 | 124.8 125.6 126.0 126.2 | 125.7 2008 | 126.1 126.1 126.1 126.0 126.0 126.1 126.1 126.2 126.4 126.5 126.7 126.9 | 126.1 126.0 126.2 126.7 | 126.3 2009 | 127.0 127.2 127.3 127.4 127.4 127.4 127.4 127.3 127.1 127.0 126.7 126.5 | 127.1 127.4 127.3 126.7 | 127.1 2010 | 126.3 126.0 125.8 125.5 125.2 125.0 124.8 124.6 124.4 124.3 124.2 124.1 | 126.0 125.2 124.6 124.2 | 125.0 2011 | 124.0 124.0 124.0 124.0 124.1 124.2 124.3 124.4 124.6 124.8 125.0 125.2 | 124.0 124.1 124.4 125.0 | 124.4 | | | 2012 | 125.5 125.7 125.9 126.2 126.4 126.7 126.9 127.1 127.3 127.5 127.7 127.9 | 125.7 126.4 127.1 127.7 | 126.7 2013 | 128.1 128.3 128.5 128.6 128.8 128.9 129.0 129.1 129.2 129.3 129.4 129.5 | 128.3 128.8 129.1 129.4 | 128.9 2014 | 129.7 129.8 129.9 130.0 130.1 130.2 130.3 130.5 130.6 130.7 130.8 130.9 | 129.8 130.1 130.5 130.8 | 130.3 2015 | 130.9 131.0 131.0 131.0 131.0 131.0 131.0 130.9 130.9 130.8 130.8 130.8 | 131.0 131.0 130.9 130.8 | 130.9 2016 | 130.8 130.8 130.8 130.8 130.9 130.9 131.0 131.0 131.1 131.2 131.2 131.3 | 130.8 130.9 131.0 131.2 | 131.0 | | | 2017 | 131.3 131.3 131.2 131.2 131.1 131.0 130.9 130.8 130.7 130.6 130.4 130.3 | 131.3 131.1 130.8 130.4 | 130.9 2018 | 130.2 130.1 130.1 130.0 130.0 130.0 130.1 130.2 130.2 130.3 130.5 130.6 | 130.2 130.0 130.2 130.5 | 130.2 2019 | 130.7 130.9 131.0 131.1 131.3 131.4 131.5 131.7 131.8 131.9 132.0 132.0 | 130.9 131.3 131.7 131.9 | 131.4 2020 | 132.0 132.0 132.0 132.0 131.9 131.7 131.6 131.4 131.2 131.0 130.7 130.5 | 132.0 131.9 131.4 130.7 | 131.5 2021 | 130.2 130.0 129.7 129.5 129.3 129.0 128.9 128.7 128.6 128.5 128.4 128.3 | 130.0 129.3 128.7 128.4 | 129.1 | | | 2022 | 128.3 128.3 128.3 128.3 128.4 128.5 128.6 128.7 128.9 129.0 129.2 129.3 | 128.3 128.4 128.7 129.2 | 128.6 2023 | 129.5 129.7 129.8 130.0 130.1 130.3 130.4 130.5 130.6 130.7 130.8 130.9 | 129.7 130.1 130.5 130.8 | 130.3 2024 | 131.0 131.1 131.2 131.2 131.3 131.4 131.6 131.7 131.8 131.9 132.1 132.2 | 131.1 131.3 131.7 132.1 | 131.5 2025 | 132.4 132.6 132.7 132.9 133.0 133.2 133.4 133.5 | 132.6 133.0 | | | | Utilization | | | (percent) | | | 1995 | 84.8 84.5 84.3 83.9 84.0 84.0 83.3 84.1 84.1 83.6 83.4 83.4 | 84.5 83.9 83.8 83.5 | 83.9 1996 | 82.5 83.3 82.9 83.3 83.5 83.8 83.4 83.4 83.6 83.2 83.6 83.7 | 82.9 83.5 83.5 83.5 | 83.3 | | | 1997 | 83.4 84.0 84.1 83.8 83.8 83.7 84.0 84.3 84.6 84.8 84.9 84.7 | 83.9 83.8 84.3 84.8 | 84.2 1998 | 84.5 84.1 83.5 83.3 83.3 82.3 81.5 82.8 82.3 82.5 82.0 82.0 | 84.0 83.0 82.2 82.2 | 82.9 1999 | 82.0 82.2 82.0 81.9 82.1 81.8 81.9 82.0 81.4 82.1 82.2 82.6 | 82.1 81.9 81.8 82.3 | 82.0 2000 | 82.2 82.2 82.2 82.4 82.4 82.2 81.8 81.3 81.4 80.8 80.6 80.1 | 82.2 82.3 81.5 80.5 | 81.6 2001 | 79.4 78.7 78.2 77.7 77.1 76.5 75.8 75.5 74.9 74.5 73.9 73.8 | 78.8 77.1 75.4 74.1 | 76.3 | | | 2002 | 74.1 74.0 74.5 74.7 75.0 75.6 75.5 75.4 75.5 75.4 75.8 75.4 | 74.2 75.1 75.5 75.5 | 75.1 2003 | 76.1 76.2 76.0 75.6 75.6 75.7 76.1 76.0 76.5 76.6 77.1 77.1 | 76.1 75.6 76.2 77.0 | 76.2 2004 | 77.3 77.8 77.5 77.8 78.4 77.8 78.4 78.4 78.5 79.2 79.3 79.9 | 77.5 78.0 78.4 79.5 | 78.3 2005 | 80.1 80.7 80.5 80.5 80.5 80.8 80.4 80.5 78.8 79.7 80.4 80.7 | 80.4 80.6 79.9 80.3 | 80.3 2006 | 80.7 80.6 80.7 80.8 80.7 80.8 80.6 80.8 80.4 80.2 80.0 80.6 | 80.7 80.7 80.6 80.2 | 80.6 | | | 2007 | 80.1 80.7 80.7 81.1 81.0 80.9 80.7 80.8 80.9 80.7 81.1 81.1 | 80.5 81.0 80.8 81.0 | 80.8 2008 | 81.1 80.8 80.5 80.0 79.6 79.4 79.0 77.7 74.2 74.9 73.8 71.6 | 80.8 79.7 77.0 73.4 | 77.7 2009 | 69.7 69.2 68.1 67.5 66.8 66.5 67.3 68.1 68.8 69.0 69.4 69.9 | 69.0 66.9 68.0 69.4 | 68.4 2010 | 70.8 71.2 71.8 72.2 73.3 73.6 74.0 74.4 74.7 74.6 74.7 75.5 | 71.2 73.0 74.4 74.9 | 73.4 2011 | 75.4 75.1 75.9 75.6 75.7 75.8 76.1 76.6 76.4 76.8 76.7 76.9 | 75.4 75.7 76.4 76.8 | 76.1 | | | 2012 | 77.3 77.4 76.8 77.2 77.3 77.1 77.1 76.7 76.5 76.6 76.8 76.8 | 77.2 77.2 76.8 76.7 | 77.0 2013 | 76.8 77.0 77.2 77.1 77.0 77.1 76.8 77.2 77.5 77.4 77.5 77.6 | 77.0 77.1 77.2 77.5 | 77.2 2014 | 77.3 77.8 78.5 78.5 78.7 78.9 79.0 78.8 78.9 78.9 79.3 79.2 | 77.8 78.7 78.9 79.1 | 78.6 2015 | 78.6 78.1 77.8 77.3 77.0 76.8 77.3 77.2 77.0 76.6 76.1 75.7 | 78.1 77.0 77.1 76.1 | 77.1 2016 | 76.1 75.7 75.2 75.4 75.2 75.5 75.6 75.4 75.3 75.3 74.9 75.4 | 75.7 75.4 75.4 75.2 | 75.4 | | | 2017 | 75.2 74.9 75.4 76.2 76.4 76.6 76.5 76.2 76.4 77.4 77.6 77.9 | 75.2 76.4 76.3 77.6 | 76.4 2018 | 77.9 78.2 78.6 79.5 78.8 79.4 79.5 79.9 79.9 79.8 79.8 79.7 | 78.2 79.2 79.8 79.8 | 79.2 2019 | 79.1 78.6 78.5 78.0 78.0 77.9 77.5 77.9 77.6 76.9 77.3 77.0 | 78.7 78.0 77.7 77.1 | 77.9 2020 | 76.5 76.8 73.8 64.1 65.2 69.5 72.2 73.0 73.1 73.9 74.3 75.4 | 75.7 66.3 72.8 74.5 | 72.3 2021 | 75.9 73.6 75.8 76.1 76.9 77.3 77.8 77.7 76.9 78.0 78.6 78.4 | 75.1 76.8 77.5 78.3 | 76.9 | | | 2022 | 78.1 78.6 79.0 79.0 78.9 78.6 78.7 78.5 78.6 78.5 78.2 77.1 | 78.6 78.9 78.6 77.9 | 78.5 2023 | 77.6 77.6 77.8 77.9 77.5 76.8 77.4 77.3 77.3 76.9 77.1 76.9 | 77.7 77.4 77.3 76.9 | 77.3 2024 | 75.8 76.5 76.6 76.4 76.8 76.8 76.0 76.3 75.7 75.4 75.2 75.9 | 76.3 76.6 76.0 75.5 | 76.1 2025 | 75.6 76.3 76.1 76.2 76.0 76.2 76.0 75.8 | 76.0 76.2 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from April 2025 through August 2025 are subject to further revision in the upcoming monthly releases. 1Table 2 Rates of Change in Industrial Production, Market and Industry Group Summary: 2020-2024 <1> ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Difference between | | Revised change | revised and earlier changes | | (percent) | (percentage points) Item | NAICS | 2020 2021 2022 2023 2024 | 2020 2021 2022 2023 2024 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total IP | | -4.2 3.2 .1 .0 -.9 | .4 -.6 -1.7 .1 -.7 | | | MARKET GROUP | | | Final products and nonindustrial supplies | | -2.7 2.2 -.8 -.8 -1.7 | .4 -1.1 -2.7 .2 -.8 Consumer goods | | .4 .6 -1.4 -.7 -.8 | .3 -1.0 -2.1 -.1 -.3 Durable | | 7.0 .0 -1.5 -2.1 -3.9 | .3 .2 -.2 -2.3 .2 Automotive products | | 9.8 -3.4 3.5 -2.4 -4.1 | -.2 1.7 2.8 -3.9 2.5 Home electronics | | 13.5 11.4 1.8 7.8 2.1 | -1.8 2.0 2.3 -12.3 -4.0 Appliances, furniture, carpeting | | 3.3 3.1 -8.3 -4.5 -4.4 | -.6 1.4 .7 .1 -1.9 Miscellaneous goods | | 2.4 5.0 -8.1 -1.1 -3.7 | 2.1 -4.1 -7.2 .2 -2.7 Nondurable | | -1.5 .9 -1.4 -.3 .0 | .4 -1.4 -2.6 .5 -.5 Non-energy | | .0 -.2 -2.4 .4 -.2 | .3 -1.4 -3.1 .7 -.5 Foods and tobacco | | 1.1 -.6 -1.4 -.7 -1.7 | .3 -.4 -1.0 .7 .4 Clothing | | -8.8 8.9 .4 -5.9 -12.3 | -.7 3.7 1.1 4.0 -2.9 Chemical products | | -.7 .5 -3.6 4.9 4.9 | .8 -3.2 -6.8 1.8 -1.6 Paper products | | -4.4 -1.5 -7.0 -8.0 -3.5 | -1.1 -1.6 -2.8 -2.0 .8 Energy | | -7.3 5.2 1.2 -2.0 .7 | .3 -1.1 -1.3 .0 -.4 | | | Business equipment | | -9.0 4.2 3.0 -1.0 -6.8 | .9 -1.7 -3.8 1.3 -1.6 Transit | | -18.0 -4.3 16.9 8.9 -18.4 | 1.2 -1.2 -2.3 9.3 4.3 Information processing | | -6.5 11.6 2.9 -3.6 2.8 | -.3 2.1 3.9 -4.4 -.6 Industrial and other | | -5.9 4.1 -1.5 -3.9 -5.5 | 1.2 -3.2 -7.6 .2 -3.2 Defense and space equipment | | -7.5 -2.7 -2.3 5.9 .2 | -.2 -2.9 -4.0 -.9 -3.1 | | | Construction supplies | | -1.4 5.5 -2.9 -1.7 -1.0 | -.6 .0 -1.1 -.2 -1.1 Business supplies | | -2.9 2.7 -1.4 -1.0 -.2 | .2 -1.2 -3.6 .6 -.8 | | | Materials | | -6.3 4.6 1.2 .9 .0 | .1 .2 -.6 -.1 -.5 Non-energy | | -2.7 3.4 -1.5 .2 -.6 | .1 .3 -.7 .3 -1.0 Durable | | -4.5 3.2 1.2 -.4 -1.8 | -.2 .4 -.3 .0 -1.4 Consumer parts | | -2.1 -3.7 7.8 2.8 -4.6 | -.9 1.8 4.1 -1.1 -.5 Equipment parts | | -6.6 6.9 2.1 -1.1 1.7 | -.2 -.1 -1.1 -1.0 -2.1 Other | | -4.2 3.8 -1.3 -1.0 -3.0 | .0 .2 -1.4 .8 -1.6 Nondurable | | .2 3.6 -5.7 1.3 1.4 | .7 .1 -1.3 .9 -.4 Textile | | -4.0 -5.0 -15.1 -4.5 1.5 | 2.5 -6.7 -7.2 2.3 -1.4 Paper | | -5.1 -.9 -9.4 -3.5 1.3 | 3.3 -1.0 -4.8 1.7 -1.4 Chemical | | 1.7 6.4 -8.2 4.9 2.7 | .0 -.1 -1.9 1.4 -.5 Energy | | -12.3 7.2 5.0 2.0 .9 | .2 -.1 -.3 -.7 .3 | | | | | | INDUSTRY GROUP | | | Manufacturing<2> | | -2.5 2.6 -1.7 -.3 -1.5 | .3 -.8 -2.2 .1 -.9 Manufacturing (NAICS) | 31-33 | -2.5 2.7 -1.7 -.1 -1.4 | .4 -.8 -2.2 .2 -1.0 | | | Durable manufacturing | | -3.6 3.1 1.2 -1.3 -2.8 | .1 -.2 -1.0 -.9 -1.2 Wood products | 321 | 1.7 1.0 -2.6 -2.5 2.4 | -.4 .6 2.0 -1.1 .5 Nonmetallic mineral products | 327 | 1.5 1.3 -.1 -2.5 -3.7 | 1.1 -1.2 -4.6 .5 -1.0 Primary metals | 331 | -5.1 8.8 -.4 -.8 -2.8 | -.8 2.9 4.9 -2.7 -.8 Fabricated metal products | 332 | -7.4 5.5 -.4 -3.0 -3.2 | -.1 -.7 -2.3 -1.2 -1.6 Machinery | 333 | -6.3 6.4 -1.5 -4.7 -3.6 | .8 -2.0 -4.9 -1.0 -2.9 Computer and electronic products | 334 | -1.3 7.5 3.7 -1.2 3.8 | -.5 1.7 3.1 -4.1 -.7 Electrical equip., appliances, | | | and components | 335 | -.2 .9 -3.4 2.0 -.5 | .2 -2.9 -6.1 3.1 -3.1 Motor vehicles and parts | 3361-3 | 2.4 -3.2 9.9 -.5 -2.8 | -.4 1.9 4.1 -2.1 .7 Aerospace and miscellaneous | | | transportation equipment | 3364-9 | -12.6 -2.9 5.6 4.9 -8.7 | .6 -1.5 -4.1 2.0 1.2 Furniture and related products | 337 | -7.4 4.5 -2.3 -9.9 -4.4 | -.5 1.9 1.2 .6 -.8 Miscellaneous | 339 | .1 3.5 -5.8 1.8 -7.6 | 1.3 -4.2 -9.4 1.1 -3.2 | | | Nondurable manufacturing | | -1.4 2.3 -4.6 1.3 .2 | .6 -1.4 -3.5 1.4 -.7 Food, beverage, and tobacco products | 311,2 | 1.0 -.2 -.6 -.8 -1.4 | .2 -.2 -.6 .6 .4 Textile and product mills | 313,4 | -2.6 -2.0 -14.3 -3.2 -.4 | 2.1 -5.6 -4.6 3.3 .2 Apparel and leather | 315,6 | -8.6 8.8 .4 -5.1 -11.5 | -.6 3.0 .2 3.7 -3.0 Paper | 322 | -2.9 -2.5 -9.3 -2.9 .1 | 1.2 -1.4 -3.3 .4 -1.3 Printing and support | 323 | -7.7 2.0 -2.7 -11.3 2.5 | .5 -1.5 -3.9 -1.1 -1.3 Petroleum and coal products | 324 | -18.4 16.6 -6.0 4.6 1.4 | .4 -1.2 -3.4 .8 -.6 Chemicals | 325 | .8 3.5 -6.7 4.2 3.7 | .7 -2.2 -5.4 2.1 -1.1 Plastics and rubber products | 326 | .6 .4 -6.1 4.8 -5.6 | 1.1 -2.6 -6.4 4.5 -1.5 | | | Other manufacturing (non-NAICS) | 1133,5131pt. | -2.6 .1 -1.9 -10.2 -5.6 | -.1 .4 -.2 -2.1 .4 | | | Mining | 21 | -17.7 10.9 6.0 2.4 -.6 | -.1 .5 -.1 -.3 -.2 Utilities | 2211,2 | -2.3 .3 4.1 -.9 1.9 | .0 .1 .0 .3 .5 Electric | 2211 | -1.4 .7 2.7 .2 2.3 | .1 .1 .0 .1 .3 Natural gas | 2212 | -8.5 -1.9 13.1 -7.4 -1.0 | -.1 .1 -.2 1.2 1.6 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- <1> Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year specified in the column heading. <2> 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 (except exclusive Internet publishing)--that have traditionally been considered to be a part of manufacturing and are included in the industrial sector. 1Table 3 Rates of Change in Industrial Production, Special Aggregates and Selected Detail: 2020-2024 <1> ---------------------------------------------------------------------------------------------------------------------------------------------------- | | | Difference between | | Revised change | revised and earlier changes | | (percent) | (percentage points) Item | NAICS | 2020 2021 2022 2023 2024 | 2020 2021 2022 2023 2024 ---------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total industry | | -4.2 3.2 .1 .0 -.9 | .4 -.6 -1.7 .1 -.7 | | | Energy | | -11.8 7.2 4.5 1.1 1.0 | .3 -.4 -.7 -.2 .2 Consumer products | | -7.3 5.2 1.2 -2.0 .7 | .3 -1.1 -1.3 .0 -.4 Commercial products | | -8.5 5.8 5.0 2.0 3.1 | -.3 -.3 -1.2 1.6 -.5 Oil and gas well drilling | 213111 | -48.8 58.2 20.3 -5.3 -5.8 | -.3 -1.0 -1.1 2.6 3.4 Converted fuel | | -3.6 3.3 2.3 2.0 2.4 | .1 -.8 -1.0 -.3 .6 Primary energy | | -16.2 9.0 6.0 2.1 .2 | .2 .3 -.1 -.8 .2 | | | Non-energy | | -1.9 2.2 -1.6 -.4 -1.6 | .3 -.6 -2.0 .2 -.9 Selected high-technology industries | | 5.1 7.5 10.2 4.2 8.0 | -.8 2.5 3.7 -3.6 .4 Computers and peripheral equipment | 3341 | -6.4 11.9 -2.7 6.8 12.5 | 1.9 -6.5 -10.9 -.1 4.1 Communications equipment | 3342 | -1.0 27.8 23.0 3.6 5.6 | -3.0 9.8 12.6 -10.8 -.9 Semiconductors and related | | | electronic components | 3344 | 8.9 1.4 8.2 4.0 8.2 | -.6 1.9 3.2 -1.9 .5 | | | Excluding selected high-technology | | | industries | | -2.1 2.0 -1.9 -.5 -1.9 | .3 -.7 -2.2 .3 -1.0 | | | Motor vehicles and parts | 3361-3 | 2.4 -3.2 9.9 -.5 -2.8 | -.4 1.9 4.1 -2.1 .7 Motor vehicles | 3361 | 6.8 -8.5 17.0 -.7 -2.9 | -.2 1.6 6.0 -2.0 1.2 Motor vehicle parts | 3363 | -1.5 -1.9 9.9 .0 -.5 | -.5 2.2 2.6 -2.6 .1 | | | Excluding motor vehicles and parts | | -2.6 2.5 -2.8 -.5 -1.8 | .4 -.9 -2.7 .5 -1.1 Consumer goods | | .5 .5 -3.2 .0 -.8 | .4 -1.5 -3.1 .5 -.5 Business equipment | | -8.4 3.1 .5 -2.0 -8.8 | .9 -2.1 -5.5 1.0 -2.3 Construction supplies | | -1.4 5.4 -2.9 -1.7 -1.0 | -.5 .0 -1.2 -.2 -1.1 Business supplies | | -1.4 1.7 -4.1 -2.4 -2.0 | .4 -1.7 -4.8 .4 -1.1 Materials | | -3.5 4.2 -3.1 .1 -.9 | .2 .1 -1.3 .7 -1.2 | | | Measures excluding selected high-technology | | | industries | | | Total industry | | -4.4 3.1 -.1 -.1 -1.1 | .4 -.7 -1.8 .2 -.7 Manufacturing<2> | | -2.7 2.5 -2.0 -.4 -1.7 | .4 -.9 -2.4 .2 -1.0 Durable | | -4.1 2.8 .7 -1.6 -3.5 | .2 -.3 -1.3 -.7 -1.3 | | | Measures excluding motor vehicles and parts | | | Total industry | | -4.7 3.7 -.4 .0 -.8 | .4 -.7 -2.0 .2 -.7 Manufacturing<2> | | -2.9 3.2 -2.5 -.3 -1.3 | .4 -1.0 -2.7 .3 -1.1 Durable | | -4.6 4.3 -.2 -1.5 -2.9 | .2 -.6 -1.9 -.7 -1.5 | | | Measures excluding selected high-technology | | | industries and motor vehicles and parts | | | Total industry | | -4.9 3.6 -.7 -.1 -1.0 | .4 -.8 -2.2 .3 -.8 Manufacturing<2> | | -3.2 3.1 -2.9 -.4 -1.6 | .4 -1.1 -2.9 .4 -1.1 | | | Stage-of-process components | | | of non-energy materials, | | | measures of the input to | | | Finished processors | | -4.8 1.9 1.5 -.3 -.3 | .3 .2 .0 -.4 -1.4 Primary and semifinished processors | | -1.5 4.2 -3.1 .6 -.8 | .0 .3 -1.1 .8 -.8 | | | Stage-of-process groups | | | Crude | | -10.7 6.6 1.4 2.8 .4 | .3 -.1 -1.2 .0 -.4 Primary and semifinished | | -3.8 3.4 -.5 -1.1 .0 | .1 -.2 -1.2 .0 -.5 Finished | | -2.2 1.6 .0 .1 -2.8 | .6 -1.2 -2.7 .3 -1.0 ---------------------------------------------------------------------------------------------------------------------------------------------------- <1> See footnote 1 to table 2. <2> See footnote 2 to table 2. 1Table 4 Annual Rates of Change for Industrial Production <1> -------------------------------------------------------------------------------------------------------------------------------------------- | | Difference between | Revised Growth Rates | revised and earlier rates | | (percentage points) Item | 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. 1Table 5 Rates of Change in Capacity, by Industry Groups: 2021-2025 <1> --------------------------------------------------------------------------------------------------------------------------------------------------------- | | Difference between | Revised change | revised and earlier changes | (percent) | (percentage points) Item | 2021 2022 2023 2024 2025 | 2021 2022 2023 2024 2025 --------------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | -1.8 .6 1.3 1.0 1.5 | .4 -.4 -1.1 -.2 -.1 | | Manufacturing<2> | -.7 .1 .4 .7 1.1 | .3 -.3 -.8 -.6 -.1 Manufacturing (NAICS) | -.6 .2 .6 .8 1.2 | .3 -.4 -.8 -.6 -.1 Durable manufacturing | -.2 .8 .1 1.0 1.1 | .3 -.3 -.9 -.6 -.3 Nondurable manufacturing | -.7 -.4 1.0 .6 1.4 | .4 -.5 -.7 -.7 .2 Other manufacturing (non-NAICS) | -5.7 -4.6 -4.6 -4.9 -5.0 | -.3 .8 .4 -.3 -.7 | | Mining | -12.2 2.9 1.7 .9 -.3 | -2.4 -.6 -1.7 1.7 -1.2 Utilities | 1.3 1.9 3.0 3.2 4.4 | .0 -.4 -.6 -.3 .7 | | | | Selected high-technology industries | .0 7.7 15.2 10.7 16.5 | -.1 3.3 5.4 -1.3 5.7 Manufacturing<2> ex. selected | | high-technology industries | -.7 -.1 .1 .4 .7 | .3 -.4 -1.0 -.6 -.3 | | Stage-of-process groups | | Crude | -9.5 2.0 1.4 .5 -.3 | -1.4 -.6 -1.4 1.0 -1.1 Primary and semifinished | -.4 .5 1.2 1.0 1.8 | .6 -.2 -.5 -.5 .1 Finished | .0 .3 .4 1.2 1.6 | .0 -.6 -1.2 -.6 .1 --------------------------------------------------------------------------------------------------------------------------------------------------------- <1> Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year specified in the column heading. <2> See footnote 2 to table 2. 1Table 6 Revised and Earlier Capacity Utilization Rates, by Industry Groups Percent of capacity, seasonally adjusted -------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Difference between | | Revised rate | revised and earlier rates | | | (percentage points) | | 1972- | Item | NAICS | 2024 2021 2022 2023 2024 | 2021 2022 2023 2024 | | Ave. Q4 Q4 Q4 Q4 | Q4 Q4 Q4 Q4 -------------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | | 79.5 78.3 77.9 76.9 75.5 | -1.2 -2.2 -1.3 -1.7 | | | Manufacturing<1> | | 78.2 78.4 77.0 76.4 74.8 | -.4 -1.9 -1.1 -1.4 Manufacturing (NAICS) | 31-33 | 78.2 78.3 76.8 76.3 74.7 | -.5 -2.0 -1.2 -1.4 | | | Durable manufacturing | | 76.8 75.5 75.8 74.8 71.9 | -.8 -1.4 -1.3 -1.7 Wood products | 321 | 76.8 83.1 77.8 73.0 72.8 | .1 -.6 -3.5 -4.6 Nonmetallic mineral products | 327 | 73.9 79.3 80.4 79.8 77.9 | -.2 -3.2 -1.1 -1.1 Primary metals | 331 | 77.3 75.0 70.6 69.6 65.3 | .4 1.2 -1.1 -2.9 Fabricated metal products | 332 | 78.6 77.9 77.8 76.1 74.2 | 1.1 -.1 -.3 -1.2 Machinery | 333 | 78.2 79.7 80.4 78.7 76.9 | -1.3 -3.9 -3.2 -3.9 Computer and electronic products | 334 | 77.1 76.0 77.8 73.6 73.9 | -2.8 .7 -2.5 -1.0 Electrical equip., appliances, | | | and components | 335 | 81.6 78.2 78.7 84.1 85.7 | -2.1 -2.7 4.0 4.4 Motor vehicles and parts | 3361-3 | 74.5 69.0 73.1 71.5 66.4 | -.5 .7 -.1 -1.3 Aerospace and miscellaneous | | | transportation equipment | 3364-9 | 73.5 61.0 64.3 67.2 60.9 | -1.3 -4.1 -3.4 -2.6 Furniture and related products | 337 | 77.6 82.5 79.3 71.3 68.9 | 2.0 2.4 1.8 -.3 Miscellaneous | 339 | 77.2 86.7 82.7 83.8 78.4 | -1.2 -3.2 1.9 4.5 | | | Nondurable manufacturing | | 80.0 81.3 77.9 78.1 77.9 | -.1 -2.6 -.9 -.9 Food, beverage, and tobacco products | 311,2 | 80.2 80.5 80.8 80.6 79.7 | .0 -.7 .1 .4 Textile and product mills | 313,4 | 77.4 74.5 68.1 68.6 70.4 | -.5 -2.1 .5 .4 Apparel and leather | 315,6 | 75.8 74.4 76.8 73.4 66.8 | 1.0 3.8 7.8 6.2 Paper | 322 | 86.6 90.2 82.3 79.8 80.7 | 1.7 -1.2 -1.7 -2.2 Printing and support | 323 | 78.9 77.4 77.5 69.7 72.3 | -.7 -2.9 -2.5 -2.0 Petroleum and coal products | 324 | 85.4 89.4 89.3 89.6 90.7 | -1.7 -.4 -1.0 -1.8 Chemicals | 325 | 76.9 79.0 72.1 74.3 75.3 | .3 -4.3 -1.8 -1.9 Plastics and rubber products | 326 | 81.8 81.7 75.2 77.4 72.8 | -.9 -4.8 .4 1.4 | | | Other manufacturing (non-NAICS) | 1133,5131pt. | 80.0 83.2 85.6 80.6 80.0 | 4.1 3.3 1.1 1.7 | | | Mining | 21 | 85.2 81.5 84.1 84.6 83.4 | -6.3 -6.1 -4.8 -6.4 Utilities | 2211,2 | 84.3 74.4 76.0 73.2 72.2 | .2 .6 1.2 1.8 | | | Selected high-technology industries | | 77.4 82.7 84.6 76.4 74.6 | 2.1 2.4 -4.1 -2.8 Computers and peripheral equipment | 3341 | 76.5 76.2 76.8 64.5 71.9 | 5.6 2.7 -11.7 -9.4 Communications equipment | 3342 | 75.5 69.9 80.3 75.1 69.1 | -2.0 7.0 .3 -2.1 Semiconductors and related | | | electronic components | 3344 | 79.1 88.8 87.3 78.9 76.9 | 3.1 .2 -4.6 -1.7 | | | Measures excluding selected high-technology | | | industries | | | Total industry | | 79.6 78.2 77.8 77.0 75.5 | -1.3 -2.3 -1.3 -1.6 Manufacturing<1> | | 78.3 78.3 76.8 76.4 74.8 | -.5 -2.0 -1.1 -1.3 | | | Stage-of-process groups | | | Crude | | 84.6 81.8 81.7 82.7 82.6 | -5.2 -5.7 -4.5 -5.5 Primary and semifinished | | 80.2 79.1 78.4 76.6 75.7 | .2 -.5 -.2 -.2 Finished | | 76.7 75.7 75.2 75.0 72.3 | -.9 -2.5 -1.3 -1.6 -------------------------------------------------------------------------------------------------------------------------------------------------------- <1> See footnote 2 to table 2. 1Table 7A Industrial Production: Manufacturing <1> Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <2> --------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) | | | 1995 | .1 -.2 .3 -.3 .4 .5 -.7 1.2 .9 -.1 .1 .3 | 4.5 .8 3.4 4.2 | 5.2 1996 | -.7 1.5 -.2 1.2 .8 .9 .4 .5 .8 .0 .9 .9 | 2.0 10.1 7.9 6.2 | 5.0 | | | 1997 | .1 1.4 1.0 .0 .7 .6 .8 1.2 .9 .9 1.0 .5 | 9.4 7.2 10.7 11.5 | 8.5 1998 | .8 .2 -.2 .5 .5 -.7 -.4 2.5 -.1 .9 .2 .6 | 6.0 2.1 3.5 8.0 | 6.7 1999 | .3 .9 .0 .4 .8 -.2 .4 .6 -.4 1.4 .6 .7 | 5.6 4.6 3.1 8.2 | 5.2 2000 | -.1 .2 .6 .6 .0 .1 .1 -.6 .5 -.4 -.3 -.6 | 3.8 4.4 -.4 -2.6 | 3.7 2001 | -.4 -.7 -.2 -.4 -.5 -.6 -.5 -.4 -.4 -.4 -.4 .2 | -5.3 -5.1 -5.8 -3.9 | -3.5 | | | 2002 | .6 .0 .7 .3 .5 1.0 -.1 .1 .0 -.3 .5 -.6 | 3.5 5.7 3.1 -.2 | .4 2003 | .8 -.1 .1 -.7 .0 .5 .3 -.5 .8 .1 .9 -.1 | 2.2 -2.0 2.4 4.2 | 1.4 2004 | -.1 .7 .0 .3 .7 -.7 .9 .4 .0 .9 .0 .8 | 2.4 3.1 4.0 5.4 | 3.0 2005 | .6 .9 -.5 .4 .3 .2 -.3 .5 -1.1 1.4 .9 .1 | 6.5 2.7 -.5 6.2 | 4.1 2006 | .8 -.3 .0 .4 -.2 .3 -.3 .7 .1 -.5 .1 1.5 | 4.0 .7 1.1 1.6 | 2.6 | | | 2007 | -.3 .3 .8 .6 .0 .4 .0 -.3 .3 -.2 .5 .1 | 4.7 5.7 .5 1.2 | 2.8 2008 | -.2 -.7 -.4 -1.0 -.6 -.7 -1.0 -1.3 -3.5 -.7 -2.5 -3.3 | -2.3 -8.1 -13.5 -22.1 | -4.7 2009 | -3.2 -.1 -1.8 -.7 -1.1 -.3 1.5 1.1 1.0 .1 1.0 -.1 | -24.8 -10.7 8.4 7.7 | -13.8 2010 | 1.0 .0 1.2 .8 1.3 -.1 .5 .1 .1 .0 .1 .5 | 7.1 10.1 4.1 1.6 | 6.0 2011 | .0 .2 .6 -.5 .0 .1 .6 .5 .2 .5 -.2 .7 | 3.0 -.1 4.5 3.9 | 2.9 | | | 2012 | .8 .4 -.5 .5 -.3 .3 -.2 -.2 -.2 -.2 .6 .7 | 5.4 .6 -1.3 1.0 | 2.6 2013 | -.2 .4 -.1 -.3 .3 .2 -.8 .9 .1 .2 .0 -.2 | 2.7 .2 .2 1.7 | .9 2014 | -1.0 .9 .9 .0 .3 .3 .4 -.6 .0 -.1 .7 -.2 | -1.1 4.7 1.4 .1 | 1.1 2015 | -.6 -.7 .4 .0 .0 -.4 .8 -.3 -.3 -.1 -.3 -.3 | -3.5 -.5 .8 -2.8 | -.6 2016 | .4 -.3 -.1 -.1 -.1 .2 .0 -.4 .2 .1 -.1 .0 | -.4 -.9 -.2 -.1 | -.8 | | | 2017 | .1 -.1 -.3 1.2 -.1 .1 -.4 -.2 .0 1.1 .1 -.3 | -.4 3.4 -2.0 3.9 | .4 2018 | -.3 .8 -.1 .7 -.8 .6 .1 .2 .0 -.4 -.3 .3 | .3 2.4 1.6 -1.4 | 1.3 2019 | -.9 -.6 -.3 -.6 .0 .4 -.7 .6 -.8 -.8 .8 .1 | -4.7 -3.4 -1.2 -2.4 | -2.0 2020 | -.3 .2 -4.6 -15.2 4.3 7.7 3.7 1.6 .1 1.0 .5 .7 | -5.4 -43.4 54.7 9.1 | -6.5 2021 | .9 -4.0 3.1 .2 1.0 .0 .9 -.5 -1.2 1.4 .6 -.1 | -.5 6.1 2.0 3.0 | 4.9 | | | 2022 | -.9 .6 .5 -.1 -.5 -.6 .0 .0 .0 .3 -.8 -1.7 | -1.1 -.2 -2.0 -3.3 | .4 2023 | 1.7 .0 -.7 .9 -.2 -.7 .4 -.1 .1 -.5 .4 -.1 | .3 .2 -.8 -.9 | -.9 2024 | -1.5 1.3 .1 -.6 .6 -.2 -.8 .5 -.5 -.7 .2 .4 | -2.0 1.1 -2.4 -2.4 | -1.0 2025 | -.4 1.3 .4 .0 .0 .3 .0 .1 | 3.9 3.1 | | | | IP (2017=100) | | | 1995 | 72.4 72.2 72.4 72.2 72.5 72.8 72.3 73.2 73.8 73.7 73.8 74.0 | 72.3 72.5 73.1 73.8 | 72.9 1996 | 73.5 74.6 74.5 75.4 76.0 76.7 77.0 77.4 78.0 77.9 78.7 79.3 | 74.2 76.0 77.5 78.7 | 76.6 | | | 1997 | 79.4 80.6 81.3 81.3 81.9 82.4 83.0 84.0 84.8 85.6 86.4 86.8 | 80.4 81.8 84.0 86.3 | 83.1 1998 | 87.5 87.6 87.5 87.9 88.4 87.7 87.3 89.5 89.4 90.2 90.3 90.9 | 87.5 88.0 88.8 90.5 | 88.7 1999 | 91.2 92.0 92.0 92.3 93.1 92.8 93.2 93.8 93.4 94.7 95.3 95.9 | 91.7 92.7 93.4 95.3 | 93.3 2000 | 95.9 96.1 96.6 97.2 97.2 97.3 97.4 96.8 97.3 96.9 96.6 96.0 | 96.2 97.2 97.1 96.5 | 96.8 2001 | 95.7 95.0 94.9 94.5 94.0 93.5 93.0 92.6 92.2 91.8 91.5 91.7 | 95.2 94.0 92.6 91.7 | 93.3 | | | 2002 | 92.2 92.2 92.8 93.1 93.6 94.5 94.4 94.5 94.5 94.3 94.8 94.2 | 92.4 93.7 94.5 94.4 | 93.8 2003 | 95.0 94.9 95.0 94.3 94.3 94.8 95.1 94.6 95.4 95.5 96.3 96.2 | 94.9 94.5 95.0 96.0 | 95.1 2004 | 96.1 96.8 96.8 97.1 97.8 97.1 98.0 98.4 98.4 99.3 99.3 100.1 | 96.6 97.3 98.3 99.6 | 97.9 2005 | 100.7 101.6 101.1 101.6 101.8 102.1 101.7 102.2 101.1 102.6 103.5 103.6 | 101.1 101.8 101.7 103.2 | 102.0 2006 | 104.4 104.2 104.2 104.5 104.3 104.6 104.2 105.0 105.1 104.6 104.7 106.2 | 104.3 104.5 104.8 105.2 | 104.7 | | | 2007 | 105.9 106.2 107.1 107.7 107.7 108.1 108.1 107.8 108.1 107.9 108.4 108.6 | 106.4 107.9 108.0 108.3 | 107.6 2008 | 108.3 107.6 107.1 106.1 105.4 104.7 103.7 102.4 98.9 98.2 95.8 92.5 | 107.7 105.4 101.7 95.5 | 102.6 2009 | 89.5 89.4 87.8 87.2 86.2 86.0 87.3 88.2 89.2 89.3 90.2 90.1 | 88.9 86.5 88.2 89.9 | 88.4 2010 | 91.1 91.0 92.2 92.9 94.0 94.0 94.5 94.6 94.7 94.7 94.9 95.3 | 91.4 93.6 94.6 95.0 | 93.6 2011 | 95.4 95.5 96.1 95.6 95.6 95.7 96.3 96.8 97.0 97.5 97.3 98.0 | 95.7 95.6 96.7 97.6 | 96.4 | | | 2012 | 98.8 99.2 98.7 99.2 98.9 99.1 98.9 98.8 98.5 98.4 99.0 99.6 | 98.9 99.1 98.7 99.0 | 98.9 2013 | 99.4 99.8 99.7 99.4 99.7 99.9 99.2 100.0 100.1 100.2 100.2 100.0 | 99.6 99.7 99.7 100.1 | 99.8 2014 | 99.0 99.9 100.8 100.8 101.0 101.4 101.8 101.2 101.2 101.0 101.7 101.5 | 99.9 101.0 101.4 101.4 | 100.9 2015 | 100.9 100.1 100.5 100.5 100.5 100.2 100.9 100.6 100.3 100.2 99.9 99.6 | 100.5 100.4 100.6 99.9 | 100.4 2016 | 100.0 99.7 99.6 99.5 99.4 99.7 99.7 99.3 99.5 99.5 99.4 99.4 | 99.8 99.5 99.5 99.5 | 99.6 | | | 2017 | 99.6 99.5 99.1 100.3 100.1 100.2 99.8 99.7 99.7 100.7 100.8 100.5 | 99.4 100.2 99.7 100.7 | 100.0 2018 | 100.2 101.1 101.0 101.7 100.9 101.5 101.6 101.8 101.9 101.5 101.2 101.6 | 100.8 101.4 101.8 101.4 | 101.3 2019 | 100.7 100.1 99.8 99.2 99.2 99.6 98.9 99.5 98.7 97.9 98.7 98.8 | 100.2 99.3 99.0 98.4 | 99.3 2020 | 98.5 98.6 94.1 79.8 83.2 89.6 92.9 94.4 94.4 95.4 95.9 96.6 | 97.1 84.2 93.9 96.0 | 92.8 2021 | 97.5 93.6 96.5 96.6 97.6 97.6 98.5 98.0 96.8 98.2 98.7 98.6 | 95.8 97.3 97.8 98.5 | 97.3 | | | 2022 | 97.7 98.3 98.7 98.7 98.2 97.7 97.7 97.7 97.7 97.9 97.2 95.5 | 98.2 98.2 97.7 96.9 | 97.7 2023 | 97.1 97.2 96.5 97.3 97.1 96.5 96.8 96.7 96.8 96.3 96.7 96.7 | 96.9 97.0 96.8 96.6 | 96.8 2024 | 95.2 96.5 96.6 96.0 96.6 96.4 95.6 96.1 95.6 94.9 95.1 95.5 | 96.1 96.4 95.8 95.2 | 95.8 2025 | 95.1 96.4 96.8 96.8 96.7 97.0 97.0 97.0 | 96.1 96.8 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from April 2025 through August 2025 are subject to further revision in the upcoming monthly releases. <1> See footnote 2 to table 2. <2> Annual averages of industrial production are calculated from not seasonally adjusted indexes. 1Table 7B Capacity and Utilization: Manufacturing <1> Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual --------------------------------------------------------------------------------------------------------------------------------------------- | | | Capacity | | | (percent of | | | 2017 output) | | | 1995 | 85.7 86.1 86.4 86.7 87.1 87.5 87.9 88.3 88.7 89.1 89.6 90.0 | 86.1 87.1 88.3 89.6 | 87.7 1996 | 90.5 91.0 91.5 92.0 92.5 93.0 93.5 94.0 94.5 95.0 95.6 96.1 | 91.0 92.5 94.0 95.6 | 93.3 | | | 1997 | 96.6 97.2 97.7 98.3 98.9 99.5 100.2 100.8 101.5 102.3 103.0 103.8 | 97.2 98.9 100.8 103.0 | 100.0 1998 | 104.6 105.4 106.2 107.0 107.7 108.5 109.2 109.8 110.4 111.0 111.6 112.2 | 105.4 107.7 109.8 111.6 | 108.6 1999 | 112.8 113.3 113.8 114.3 114.8 115.3 115.8 116.3 116.8 117.2 117.7 118.2 | 113.3 114.8 116.3 117.7 | 115.5 2000 | 118.6 119.1 119.5 120.0 120.4 120.9 121.3 121.8 122.2 122.7 123.2 123.6 | 119.1 120.4 121.8 123.2 | 121.1 2001 | 124.1 124.5 125.0 125.4 125.8 126.1 126.5 126.8 127.0 127.3 127.5 127.7 | 124.5 125.8 126.7 127.5 | 126.1 | | | 2002 | 127.8 128.0 128.1 128.1 128.2 128.2 128.2 128.2 128.2 128.2 128.2 128.2 | 127.9 128.2 128.2 128.2 | 128.1 2003 | 128.1 128.1 128.1 128.1 128.1 128.1 128.0 128.0 128.0 127.9 127.9 127.9 | 128.1 128.1 128.0 127.9 | 128.0 2004 | 127.8 127.8 127.7 127.6 127.6 127.6 127.6 127.6 127.6 127.7 127.8 127.9 | 127.8 127.6 127.6 127.8 | 127.7 2005 | 128.1 128.3 128.5 128.8 129.0 129.3 129.6 129.9 130.1 130.4 130.7 131.0 | 128.3 129.0 129.9 130.7 | 129.5 2006 | 131.2 131.5 131.7 132.0 132.2 132.4 132.7 132.9 133.2 133.5 133.8 134.1 | 131.5 132.2 132.9 133.8 | 132.6 | | | 2007 | 134.4 134.7 135.0 135.4 135.7 136.0 136.3 136.6 136.9 137.1 137.3 137.4 | 134.7 135.7 136.6 137.3 | 136.1 2008 | 137.5 137.6 137.6 137.6 137.6 137.5 137.5 137.4 137.2 137.1 137.0 136.8 | 137.6 137.6 137.4 137.0 | 137.4 2009 | 136.6 136.4 136.2 136.0 135.8 135.5 135.3 135.1 134.9 134.7 134.5 134.2 | 136.4 135.8 135.1 134.5 | 135.4 2010 | 134.0 133.8 133.6 133.4 133.2 133.0 132.8 132.6 132.3 132.2 132.0 131.8 | 133.8 133.2 132.6 132.0 | 132.9 2011 | 131.7 131.5 131.4 131.3 131.3 131.3 131.3 131.3 131.4 131.5 131.6 131.7 | 131.5 131.3 131.3 131.6 | 131.4 | | | 2012 | 131.9 132.0 132.2 132.3 132.5 132.6 132.7 132.8 133.0 133.1 133.1 133.2 | 132.0 132.5 132.8 133.1 | 132.6 2013 | 133.3 133.3 133.3 133.3 133.3 133.3 133.3 133.2 133.2 133.1 133.0 133.0 | 133.3 133.3 133.2 133.0 | 133.2 2014 | 132.9 132.8 132.7 132.6 132.5 132.4 132.2 132.1 132.0 131.8 131.6 131.5 | 132.8 132.5 132.1 131.6 | 132.3 2015 | 131.3 131.1 131.0 130.8 130.7 130.6 130.5 130.4 130.4 130.4 130.4 130.4 | 131.1 130.7 130.4 130.4 | 130.7 2016 | 130.4 130.5 130.5 130.6 130.7 130.7 130.8 130.8 130.8 130.8 130.8 130.7 | 130.5 130.7 130.8 130.8 | 130.7 | | | 2017 | 130.7 130.5 130.4 130.3 130.1 129.9 129.8 129.6 129.4 129.3 129.1 129.0 | 130.5 130.1 129.6 129.1 | 129.8 2018 | 128.9 128.8 128.7 128.7 128.6 128.6 128.6 128.6 128.5 128.5 128.5 128.5 | 128.8 128.6 128.6 128.5 | 128.6 2019 | 128.5 128.5 128.5 128.4 128.4 128.3 128.3 128.2 128.2 128.1 128.0 127.9 | 128.5 128.4 128.2 128.0 | 128.3 2020 | 127.8 127.7 127.6 127.5 127.4 127.3 127.1 127.0 126.9 126.7 126.6 126.4 | 127.7 127.4 127.0 126.6 | 127.2 2021 | 126.3 126.2 126.1 126.0 125.9 125.8 125.8 125.7 125.7 125.7 125.7 125.7 | 126.2 125.9 125.7 125.7 | 125.9 | | | 2022 | 125.7 125.7 125.7 125.7 125.7 125.7 125.7 125.8 125.8 125.8 125.8 125.9 | 125.7 125.7 125.8 125.8 | 125.8 2023 | 125.9 125.9 126.0 126.0 126.1 126.1 126.2 126.2 126.3 126.3 126.4 126.4 | 125.9 126.1 126.2 126.4 | 126.1 2024 | 126.5 126.6 126.6 126.7 126.8 126.9 126.9 127.0 127.1 127.2 127.3 127.4 | 126.6 126.8 127.0 127.3 | 126.9 2025 | 127.5 127.6 127.7 127.8 127.9 128.1 128.2 128.3 | 127.6 127.9 | | | | Utilization | | | (percent) | | | 1995 | 84.4 83.9 83.8 83.2 83.2 83.2 82.3 82.9 83.3 82.7 82.4 82.3 | 84.0 83.2 82.8 82.5 | 83.1 1996 | 81.3 82.0 81.4 81.9 82.1 82.5 82.4 82.3 82.5 82.0 82.3 82.6 | 81.6 82.2 82.4 82.3 | 82.1 | | | 1997 | 82.2 82.9 83.2 82.7 82.8 82.8 82.9 83.3 83.5 83.7 83.9 83.7 | 82.8 82.8 83.3 83.7 | 83.1 1998 | 83.6 83.2 82.4 82.2 82.0 80.9 80.0 81.5 81.0 81.2 80.9 81.0 | 83.1 81.7 80.8 81.0 | 81.7 1999 | 80.8 81.2 80.8 80.7 81.0 80.5 80.5 80.6 80.0 80.8 81.0 81.2 | 80.9 80.8 80.4 81.0 | 80.8 2000 | 80.8 80.7 80.9 81.0 80.7 80.5 80.3 79.5 79.6 78.9 78.4 77.7 | 80.8 80.7 79.8 78.4 | 79.9 2001 | 77.1 76.3 75.9 75.4 74.7 74.1 73.5 73.0 72.6 72.2 71.8 71.8 | 76.5 74.7 73.0 71.9 | 74.0 | | | 2002 | 72.2 72.1 72.5 72.7 73.0 73.7 73.6 73.7 73.7 73.5 73.9 73.5 | 72.3 73.1 73.7 73.6 | 73.2 2003 | 74.1 74.0 74.1 73.6 73.6 74.0 74.2 73.9 74.5 74.6 75.3 75.3 | 74.1 73.7 74.2 75.1 | 74.3 2004 | 75.2 75.8 75.8 76.1 76.6 76.1 76.8 77.1 77.1 77.8 77.7 78.2 | 75.6 76.3 77.0 77.9 | 76.7 2005 | 78.6 79.2 78.7 78.9 78.9 78.9 78.5 78.7 77.7 78.6 79.2 79.1 | 78.8 78.9 78.3 79.0 | 78.8 2006 | 79.6 79.2 79.1 79.2 78.9 78.9 78.5 79.0 78.9 78.3 78.3 79.2 | 79.3 79.0 78.8 78.6 | 78.9 | | | 2007 | 78.8 78.8 79.3 79.6 79.4 79.5 79.3 78.9 79.0 78.7 79.0 79.0 | 79.0 79.5 79.0 78.9 | 79.1 2008 | 78.8 78.2 77.8 77.1 76.6 76.1 75.4 74.5 72.0 71.6 69.9 67.7 | 78.2 76.6 74.0 69.7 | 74.6 2009 | 65.6 65.6 64.5 64.1 63.5 63.4 64.5 65.3 66.1 66.3 67.1 67.1 | 65.2 63.7 65.3 66.8 | 65.3 2010 | 67.9 68.0 69.0 69.6 70.6 70.7 71.2 71.4 71.5 71.7 71.9 72.3 | 68.3 70.3 71.4 72.0 | 70.5 2011 | 72.4 72.6 73.1 72.8 72.8 72.9 73.3 73.7 73.8 74.2 74.0 74.4 | 72.7 72.8 73.6 74.2 | 73.3 | | | 2012 | 74.9 75.2 74.7 74.9 74.6 74.8 74.5 74.3 74.1 73.9 74.3 74.8 | 74.9 74.8 74.3 74.3 | 74.6 2013 | 74.6 74.9 74.8 74.5 74.8 75.0 74.4 75.1 75.1 75.3 75.3 75.2 | 74.7 74.8 74.9 75.3 | 74.9 2014 | 74.5 75.2 75.9 76.0 76.2 76.6 77.0 76.6 76.7 76.7 77.3 77.2 | 75.2 76.3 76.7 77.0 | 76.3 2015 | 76.8 76.4 76.7 76.8 76.9 76.7 77.3 77.1 76.9 76.8 76.6 76.4 | 76.7 76.8 77.1 76.6 | 76.8 2016 | 76.7 76.4 76.3 76.2 76.1 76.2 76.3 75.9 76.0 76.1 76.0 76.1 | 76.5 76.2 76.1 76.1 | 76.2 | | | 2017 | 76.2 76.2 76.0 77.0 77.0 77.1 76.9 76.9 77.0 77.9 78.0 77.9 | 76.1 77.0 76.9 78.0 | 77.0 2018 | 77.8 78.5 78.5 79.0 78.4 78.9 79.0 79.2 79.3 78.9 78.7 79.0 | 78.2 78.8 79.2 78.9 | 78.8 2019 | 78.3 77.9 77.7 77.2 77.3 77.6 77.1 77.6 77.0 76.4 77.1 77.2 | 78.0 77.4 77.2 76.9 | 77.4 2020 | 77.0 77.2 73.7 62.6 65.3 70.4 73.1 74.3 74.4 75.3 75.8 76.4 | 76.0 66.1 73.9 75.8 | 73.0 2021 | 77.2 74.1 76.5 76.7 77.5 77.6 78.3 77.9 77.0 78.1 78.6 78.4 | 75.9 77.3 77.7 78.4 | 77.3 | | | 2022 | 77.7 78.2 78.6 78.5 78.1 77.7 77.7 77.7 77.7 77.9 77.2 75.9 | 78.2 78.1 77.7 77.0 | 77.7 2023 | 77.2 77.1 76.6 77.2 77.1 76.5 76.7 76.7 76.7 76.3 76.5 76.5 | 77.0 76.9 76.7 76.4 | 76.8 2024 | 75.3 76.2 76.3 75.8 76.2 76.0 75.3 75.6 75.2 74.6 74.7 75.0 | 75.9 76.0 75.4 74.8 | 75.5 2025 | 74.6 75.5 75.8 75.7 75.6 75.7 75.7 75.6 | 75.3 75.7 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from April 2025 through August 2025 are subject to further revision in the upcoming monthly releases. <1> See footnote 2 to table 2. 1Table 8 Annual Proportions in Industrial Production, Market and Industry Group Summary ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Item | NAICS | 2017 2018 2019 2020 2021 2022 2023 2024 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Total IP | | 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 | | MARKET GROUP | | Final products and nonindustrial supplies | | 57.5 56.9 57.5 57.4 55.4 55.1 56.0 56.2 Consumer goods | | 28.1 27.6 28.3 29.2 28.1 27.5 27.8 28.0 Durable | | 6.1 6.0 6.2 6.3 6.2 6.2 6.3 6.2 Automotive products | | 3.4 3.4 3.5 3.4 3.4 3.6 3.6 3.6 Home electronics | | .1 .1 .1 .1 .1 .1 .1 .1 Appliances, furniture, carpeting | | .9 .8 .9 .9 .9 .8 .8 .8 Miscellaneous goods | | 1.7 1.7 1.7 1.8 1.7 1.7 1.7 1.7 Nondurable | | 22.0 21.6 22.1 22.9 21.9 21.3 21.5 21.8 Non-energy | | 16.7 16.2 17.3 18.1 16.2 15.6 16.2 16.7 Foods and tobacco | | 9.7 9.4 10.0 10.7 9.8 9.6 10.0 10.2 Clothing | | .2 .2 .2 .2 .2 .2 .2 .2 Chemical products | | 5.1 5.0 5.4 5.5 4.8 4.3 4.6 4.9 Paper products | | 1.3 1.2 1.3 1.3 1.1 1.0 1.0 1.0 Energy | | 5.3 5.4 4.8 4.8 5.7 5.7 5.3 5.1 | | Business equipment | | 10.1 10.0 9.6 8.7 8.2 8.5 8.9 8.9 Transit | | 3.1 2.9 2.2 1.6 1.6 1.8 2.1 2.1 Information processing | | 2.1 2.0 2.1 2.1 1.9 1.9 1.9 1.9 Industrial and other | | 5.0 5.1 5.2 5.0 4.8 4.9 5.0 4.9 Defense and space equipment | | 2.1 2.0 2.1 1.9 1.6 1.5 1.6 1.6 | | Construction supplies | | 5.4 5.4 5.6 6.0 5.9 6.0 6.0 6.0 Business supplies | | 11.3 11.2 11.3 11.3 11.1 11.1 11.1 11.2 | | Materials | | 42.5 43.1 42.5 42.6 44.6 44.9 44.0 43.8 Non-energy | | 26.4 26.1 26.6 27.1 26.7 26.4 26.6 26.9 Durable | | 16.3 16.2 16.6 16.5 16.1 16.0 16.5 16.6 Consumer parts | | 3.1 3.0 3.0 2.8 2.7 2.7 2.9 2.9 Equipment parts | | 4.9 4.8 5.0 4.7 4.6 4.8 5.0 5.2 Other | | 8.3 8.3 8.5 8.9 8.8 8.6 8.6 8.5 Nondurable | | 10.1 9.9 10.0 10.6 10.7 10.4 10.1 10.2 Textile | | .4 .4 .4 .4 .3 .3 .3 .3 Paper | | 1.4 1.3 1.3 1.3 1.3 1.2 1.1 1.2 Chemical | | 5.3 5.1 5.0 5.5 5.7 5.4 5.3 5.3 Energy | | 16.1 16.9 15.9 15.5 17.9 18.5 17.4 17.0 | | | | INDUSTRY GROUP | | Manufacturing<1> | | 77.1 76.2 77.0 77.5 75.5 74.4 75.3 75.4 Manufacturing (NAICS) | 31-33 | 74.8 74.1 74.9 75.5 73.7 72.7 73.6 73.8 | | Durable manufacturing | | 39.1 38.9 39.2 38.3 37.0 37.5 38.5 38.4 Wood products | 321 | 1.4 1.4 1.5 2.0 2.0 1.9 1.7 1.7 Nonmetallic mineral products | 327 | 2.1 2.1 2.2 2.3 2.1 2.3 2.4 2.3 Primary metals | 331 | 2.6 2.6 2.5 2.8 3.1 2.8 2.6 2.4 Fabricated metal products | 332 | 5.7 5.9 6.1 6.0 5.8 6.0 6.2 6.1 Machinery | 333 | 5.4 5.5 5.7 5.4 5.2 5.4 5.5 5.4 Computer and electronic products | 334 | 5.1 5.0 5.2 5.3 4.7 4.6 4.7 4.8 Electrical equip., appliances, | | and components | 335 | 1.8 1.8 1.9 2.0 2.0 2.0 2.1 2.2 Motor vehicles and parts | 3361-3 | 5.8 5.7 5.9 5.4 5.1 5.6 6.0 5.9 Aerospace and miscellaneous | | transportation equipment | 3364-9 | 5.1 4.8 4.2 3.4 3.3 3.4 3.8 3.9 Furniture and related products | 337 | 1.2 1.2 1.2 1.2 1.1 1.2 1.1 1.1 Miscellaneous | 339 | 2.8 2.8 2.8 2.7 2.6 2.4 2.5 2.5 | | Nondurable manufacturing | | 35.7 35.2 35.7 37.2 36.7 35.1 35.1 35.4 Food, beverage, and tobacco products | 311,2 | 11.7 11.4 12.2 13.2 12.0 11.9 12.2 12.5 Textile and product mills | 313,4 | .7 .6 .7 .7 .6 .5 .5 .5 Apparel and leather | 315,6 | .2 .2 .2 .2 .2 .2 .2 .2 Paper | 322 | 2.5 2.5 2.6 2.6 2.5 2.4 2.2 2.2 Printing and support | 323 | 1.5 1.4 1.4 1.3 1.3 1.3 1.3 1.4 Petroleum and coal products | 324 | 3.7 3.8 3.0 2.8 4.1 3.9 3.5 3.3 Chemicals | 325 | 11.9 11.6 12.0 12.7 12.2 11.3 11.4 11.7 Plastics and rubber products | 326 | 3.5 3.6 3.7 3.7 3.8 3.6 3.7 3.7 | | Other manufacturing (non-NAICS) | 1133,5131pt. | 2.2 2.1 2.1 2.0 1.8 1.8 1.7 1.6 | | Mining | 21 | 12.1 13.0 11.9 11.2 13.9 14.4 13.2 12.5 Utilities | 2211,2 | 10.8 10.8 11.1 11.3 10.6 11.2 11.5 12.0 Electric | 2211 | 9.3 9.4 9.7 9.8 9.1 9.6 10.1 10.6 Natural gas | 2212 | 1.5 1.4 1.5 1.5 1.5 1.6 1.5 1.5 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. The IP proportion data are estimates of the industries' relative contributions to the overall change in IP between the reference year and the following year. For example, a 1 percent increase in durable goods manufacturing between 2024 and 2025 would account for a .384 percent increase in total IP. <1> See footnote 2 to table 2. 1Table 9 Industrial Production and Capacity Utilization: SUMMARY Seasonally adjusted -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | 2017=100 | Percent change | ----------------------------------------------------------------- | ----------------------------------------------------------------------------------- | 2025 | 2025 | Aug. '24 to Industrial production | Mar.[r] Apr.[r] May[r] June[r] July[r] Aug.[r] | Mar.[r] Apr.[r] May[r] June[r] July[r] Aug.[r] | Aug. '25 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | | Total index | 101.0 101.2 101.1 101.6 101.3 101.3 | -.1 .2 -.1 .4 -.2 -.1 | .8 Previous estimates | 103.5 103.6 103.7 104.2 103.8 103.9 | -.3 .1 .0 .5 -.4 .1 | .9 | | | Major market groups | | | Final Products | 97.4 97.4 97.5 97.7 97.8 97.6 | -.1 .0 .1 .2 .1 -.1 | .5 Consumer goods | 98.4 98.4 98.1 98.3 98.3 98.2 | -.7 .0 -.2 .2 .0 -.1 | -.5 Business equipment | 91.9 92.2 93.3 93.6 93.9 93.6 | 1.6 .3 1.2 .3 .3 -.4 | 3.7 Nonindustrial supplies | 98.3 98.1 97.8 97.8 97.3 97.2 | .2 -.2 -.3 .0 -.5 -.2 | .5 Construction | 100.3 99.4 99.1 99.2 98.4 98.9 | .8 -.9 -.3 .1 -.8 .5 | 1.6 Materials | 105.4 105.9 105.7 106.5 106.1 106.2 | -.1 .5 -.2 .8 -.4 .0 | 1.3 | | | Major industry groups | | | Manufacturing (see note below) | 96.8 96.8 96.7 97.0 97.0 97.0 | .4 .0 .0 .3 .0 .1 | 1.0 Previous estimates | 100.2 99.7 99.9 100.1 100.0 100.3 | .5 -.4 .1 .3 -.1 .2 | .9 | | | Mining | 120.3 120.3 120.9 121.5 119.5 120.7 | .9 .0 .5 .5 -1.6 1.0 | .9 Utilities | 107.0 108.8 107.7 109.2 109.1 106.9 | -4.0 1.7 -1.0 1.4 -.1 -2.0 | .0 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Capacity | Percent of capacity | growth | ------------------------------------------------------------------------------------------------------------------------------------------- | --------------- | Average 1988- 1990- 1994- 2008- | | | 1972- 89 91 95 09 2024 | 2025 | Aug. '24 to Capacity utilization | 2024 high low high low Aug. | Mar.[r] Apr.[r] May[r] June[r] July[r] Aug.[r] | Aug. '25 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | | Total industry | 79.5 85.2 78.8 85.0 66.5 76.3 | 76.1 76.2 76.0 76.2 76.0 75.8 | 1.4 Previous estimates | 79.6 85.2 78.7 84.8 66.6 77.9 | 77.6 77.5 77.5 77.8 77.4 77.4 | 1.5 | | | Manufacturing (see note below) | 78.2 85.5 77.2 84.6 63.4 75.6 | 75.8 75.7 75.6 75.7 75.7 75.6 | 1.0 Previous estimates | 78.2 85.5 77.1 84.4 63.5 77.0 | 77.0 76.6 76.7 76.8 76.7 76.8 | 1.2 Mining | 85.2 86.3 84.4 88.6 78.3 83.9 | 84.2 84.2 84.7 85.2 83.8 84.7 | .0 Utilities | 84.3 93.2 84.7 93.2 78.1 72.7 | 71.0 71.9 70.9 71.7 71.3 69.7 | 4.3 | | | Stage-of-process groups | | | Crude | 84.6 87.9 84.9 90.0 76.5 82.2 | 82.4 82.9 83.0 83.5 82.4 83.2 | .0 Primary and semifinished | 80.2 86.4 77.9 87.7 63.5 76.3 | 76.0 76.0 75.7 76.0 75.8 75.2 | 1.6 Finished | 76.7 83.3 77.4 80.7 66.3 73.8 | 73.9 73.8 73.7 73.8 73.8 73.8 | 1.5 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ r Revised. 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 (except exclusive Internet publishing). 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 of its industrial output data from the SIC system to NAICS. 1 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 2017. 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 (except exclusive Internet publishing)-that have traditionally been considered to bemanufacturing and included in the industrial sector. For the period since 2017, the total IP index has been constructed from 297 individual series based on the 2022 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 5 percent. If output in this industry increased 10 percent in a month, then this gain would boost growth in total IP by 5/10 percentage point (0.05 x 10% = 0.5%). 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 78 percent of the source data (in value-added terms) are available; the fraction of available source data increases to 86 percent for estimates in the second month that the estimate is published, 92 percent in the third month, 95 percent in the fourth month, 98 percent in the fifth month, and 98 percent in the sixth month. Data availability by data type in 2024 is summarized in the table below: Availability of Monthly IP Data in Publication Window (Percent of value added in 2024; the numbers may not sum because of rounding.) Type of data 1st 2nd 3rd 4th 5th 6th Physical product 33 41 48 51 54 54 Production-worker hours 44 44 44 44 44 44 IP data received 78 86 92 95 98 98 IP data estimated 22 14 8 5 2 2 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 (33 percent out of a total of 54 percent). Of the 33 percent, two-thirds (22 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 August 2025; for other series, the factors were estimated with data through August 2025, where available. 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 0.30 percent during the 1987-2025 period. The average revision to the percent change in total IP, without regard to sign, from the first to the fourth estimates was 0.24 percentage point during the 1987-2025 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 (except exclusive Internet 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 26 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 10 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 1972-2024 period, the average total industry utilization rate was 79.5 percent; for manufacturing, the average factory operating rate was 78.2 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 November 24, 2025, is available on the Board's website (www.federalreserve.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 will be issued on the following dates. The monthly releases are issued at 9:15 a.m. The annual revision is issued at noon. 2025: January 17, February 14, March 18, April 16, May 15, June 17, July 16, August 15, September 16, November 24 (annual revision), December 3, TBD, and December 16. This release schedule is available on the Board's website at http://www.federalreserve.gov/releases/g17.