Board of Governors of the Federal Reserve System

Percent change, seasonally adjusted                                                                                          

Item	NAICS	2024 Proportion	Fourth quarter to fourth quarter			Annual rate			Monthly rate						Dec. '24 to Dec. '25
						2025			2025
			2023	2024	2025	Q2	Q3[r]	Q4[p]	July[r]	Aug.[r]	Sept.[r]	Oct.[r]	Nov.[r]	Dec.[p]
Total industry		100.00	.0	-.9	2.2	1.8	2.2	.7	.4	-.3	.2	-.3	.4	.4	2.0
Energy		25.57	1.1	1.0	2.4	-.5	.8	5.4	.3	-1.3	.5	.7	.5	1.2	2.2
Consumer products		5.13	-2.0	.7	2.0	-9.8	-2.1	8.5	.8	-2.8	-.4	1.7	.4	4.0	1.1
Commercial products		3.05	2.0	3.1	3.2	3.2	-1.0	6.8	.5	-1.2	.0	2.0	-.2	.7	2.3
Oil and gas well drilling	213111	.43	-5.3	-5.8	-3.8	-10.6	-10.0	13.8	-1.9	.8	.3	2.7	1.3	-2.2	-4.2
Converted fuel		5.14	2.0	2.4	2.8	-5.6	1.5	12.6	.3	-3.3	3.7	.9	.2	1.7	2.9
Primary energy		11.83	2.1	.2	2.5	5.6	2.7	.4	.2	.1	-.4	-.2	.8	.0	2.5
Non-energy		74.43	-.4	-1.6	2.2	2.7	2.7	-.8	.4	.0	.1	-.6	.4	.1	1.9
Selected high-technology industries		2.07	4.2	8.0	11.1	5.9	8.4	7.5	3.5	-1.1	-1.0	2.3	.5	.7	10.9
Computers and peripheral equipment	3341	.19	6.8	12.5	18.7	7.5	30.9	22.0	4.0	1.2	2.3	2.1	1.5	-.1	16.4
Communications equipment	3342	.47	3.6	5.6	-5.1	-9.6	-19.3	.4	-2.3	-1.4	-.5	.4	.5	.4	-5.2
Semiconductors and related electronic components	3344	1.40	4.0	8.2	15.5	11.1	15.1	7.6	5.1	-1.4	-1.6	2.8	.4	1.0	15.5
Excluding selected high-technology industries		72.37	-.5	-1.9	1.9	2.5	2.6	-1.1	.3	.1	.1	-.7	.4	.1	1.7
Motor vehicles and parts	3361-3	5.94	-.5	-2.8	-3.3	21.4	.5	-23.7	-1.2	2.1	-1.3	-5.9	-.2	-1.1	-2.8
Motor vehicles	3361	3.01	-.7	-2.9	-4.9	35.5	2.4	-33.6	-1.0	3.1	-2.4	-9.0	.8	-2.1	-3.8
Motor vehicle parts	3363	2.38	.0	-.5	-1.7	12.8	-.6	-12.6	-1.5	1.4	.1	-3.2	-.6	-.7	-1.6
Excluding motor vehicles and parts		66.43	-.5	-1.8	2.4	1.0	2.7	1.2	.5	-.1	.2	-.2	.5	.2	2.1
Consumer goods		19.80	.0	-.8	1.1	.1	2.4	.8	.7	-.4	.3	-.5	.8	.2	1.7
Business equipment		7.27	-2.0	-8.8	12.5	8.3	7.2	7.6	1.5	-1.0	1.5	.9	-.1	1.1	10.8
Construction supplies		6.02	-1.7	-1.0	2.4	.1	2.1	-.2	-.6	1.0	.8	-1.1	.3	-.3	1.3
Business supplies		7.69	-2.4	-2.0	-1.0	-3.2	-1.7	-1.3	-.4	.2	.1	-.5	.3	-.3	-1.2
Materials		23.96	.1	-.9	1.4	1.5	2.9	.2	.4	.2	-.3	-.2	.5	.0	.9
Measures excluding selected high-technology industries
Total industry		97.93	-.1	-1.1	2.0	1.7	2.1	.6	.3	-.3	.2	-.3	.4	.4	1.8
Manufacturing[1]		73.38	-.4	-1.7	1.8	2.4	2.6	-.9	.4	.0	.2	-.7	.3	.2	1.7
Durable		36.48	-1.6	-3.5	3.0	4.6	3.2	-2.2	.6	.0	.3	-.7	-.1	.1	2.6
Measures excluding motor vehicles and parts
Total industry		94.06	.0	-.8	2.6	.7	2.4	2.4	.5	-.5	.3	.1	.5	.5	2.3
Manufacturing[1]		69.51	-.3	-1.3	2.6	1.1	3.0	1.5	.6	-.2	.3	-.1	.4	.3	2.4
Durable		32.60	-1.5	-2.9	4.7	1.9	4.1	2.8	1.1	-.5	.5	.4	-.1	.4	4.1
Measures excluding selected high-technology industries and motor vehicles and parts
Total industry		92.00	-.1	-1.0	2.4	.6	2.2	2.3	.4	-.4	.3	.0	.5	.4	2.1
Manufacturing[1]		67.44	-.4	-1.6	2.3	.9	2.8	1.3	.5	-.2	.4	-.2	.4	.3	2.1
Stage-of-process components of non-energy materials, measures of the input to
Finished processors		9.54	-.3	-.3	3.2	2.9	5.3	-.6	.9	-.1	.3	-.1	-.2	-.2	2.8
Primary and semifinished processors		17.31	.6	-.8	.8	2.9	1.7	-.9	.1	.4	-.6	-.5	.8	.1	.2

[r] Revised. [p] Preliminary.
[1] The composition of manufacturing is specified in a note for the summary table.