1 FEDERAL RESERVE STATISTICAL RELEASE G.17 (419) For release at 3:00 p.m. (EST) November 10, 2003 Industrial Production and Capacity Utilization: The 2003 Annual Revision The Federal Reserve revised the index of industrial production (IP) and the related measures of capacity and capacity utilization for the period from January 1972 to September 2003. Overall, the changes are small, and most of the revisions appear in the period beginning with 2000. Measured from fourth quarter to fourth quarter, industrial output is now reported to have increased at a slower rate in 2000, and to have contracted a bit more slowly in 2001, than reported earlier. The changes to total industrial production in other years are slight. The revision still places the most recent peak in IP in June 2000 and the corresponding trough in December 2001. After reaching the trough, the total index recorded gains in the first half of 2002, only to trend downward again until mid-2003 and then head up. The rate of industrial capacity utilization--the ratio of production to capacity--in the third quarter of 2003 was little changed by the revision; at 74.6 percent, the rate is 4 percentage points below the low of the 1990-91 recession and 6.7 percentage points below its 1972-2002 average. [1] The operating rates in manufacturing in the fourth quarter of 2002 and the third quarter of 2003 were also close to previous estimates. Capacity utilization at mines was slightly lower in the fourth quarter of 2002, and a bit higher in the third quarter of 2003, than previously reported. The current revision found that the utilization rates at utilities in the fourth quarters of 2001 and 2002 were higher than reported earlier but that the rates in the third quarter of 2003 were little changed from those reported previously. The new overall measures of capacity are also only minimally different from those estimated earlier. The current figures suggest that industrial capacity expanded slightly faster in 1999 and 2002, and slightly slower in 2000 and 2001, than reported earlier. The updated measures introduce improved methods for compiling a few series and incorporate newly available and more comprehensive source data. The new source data generally cover the years from 2000 on, and the modified methods affect indexes from 1992 forward. The statistical revisions to the IP index were principally derived from the inclusion of information contained in annual reports issued by the Bureau of the Census: the 2001 Annual Survey of Manufactures (ASM), the 2001 Services Annual Survey (for publishing), and selected 2002 Current Industrial Reports. In addition, revised annual data from the U.S. Geological Survey (USGS) on minerals (except fuels) for 2001 and some new data for 2002 were introduced. Annual data from the U.S. Forest Service were used to generate estimates for logging. In addition, the new monthly production estimates for 2002 and 2003 reflect updated seasonal factors and the inclusion of monthly source data that became available (or were revised) after the closing of the regular four-month reporting window. The capacity indexes and capacity utilization rates were calculated using the revised production indexes, results from the Census Bureau's 2002 Survey of Plant Capacity for the fourth quarter of the year, and newly available 2002 data on industrial capacity from the USGS, the Energy Information Agency of the Department of Energy, and other organizations. In addition, the relationships used to estimate the current changes in manufacturing capacity were derived from Census data on capital spending by industry for 2001 and indicators of the rates of change in manufacturers' capital spending in 2002 and 2003. Finally, the revision included updates to the value-added weights used to aggregate individual indexes to the major industry and the market group subtotals and to the index for total industry. Results of the Revision For the third quarter of 2003, the revision places the production index at 111.0 percent of output in 1997 (table 1A) and the capacity index at 148.8 percent of output in 1997 (table 1B); both indexes are slightly higher than reported previously (chart 1). As noted earlier, the utilization rate for total industry was little changed for the third quarter of 2003. Tables 2 and 3 show the revised rates of change of industrial production for market groups, industry groups, special aggregates, and selected detail for the years 1999 through 2003:Q3. Tables 4, 5, and 6 show the revised figures for capacity utilization, capacity, and electric power use. The tables also show the difference between the revised and earlier rates of change. For capacity utilization, the tables show the difference between revised and previous rates for the final quarter of the year (the third quarter was used for 2003). Tables 7, 8, and 9 report the revised production, capacity, and utilization series for manufacturing, for total industry excluding selected high-technology industries, and for manufacturing excluding selected high-technology industries. Industrial Production The revision to industrial output reduced the gain in 2000 as well as the decline in 2001 (table 2). The cumulative recovery in total IP since the end of 2001 was, on balance, unchanged. The somewhat slower increase in IP now shown for 2000 largely reflects the incorporation of recently issued annual Census data. Among major manufacturing groups, the new data indicated weaker increases in production of a few industries, such as machinery, computer and electronic products, and nonmetallic mineral products. In 2001, the slightly slower decline in total IP partly reflects an upward revision in the output of aerospace and miscellaneous transportation equipment. The revision now shows that the rise in the output of high-technology industries--computers and office equipment, communications equipment, and semiconductors and related electronic components--was about 15 percent in 2002 and 20 percent in 2003. In general, these industries recorded rapid gains in output in the late 1990s, only to fall back a bit in 2001. The production of computers and semiconductors picked up again in 2002 and 2003, but the production of communications equipment continued to fall in 2002 before posting a modest increase this year. Relative to earlier estimates, the output of all high-technology components increased at a faster rate in 2002. In 2003, although the gain in the output of computers now appears to have been weaker than previously reported, the output of other high-technology industries expanded more rapidly during the same period. Among major market groups, the revised production index for consumer goods rose somewhat more slowly in 2002 and 2003 than earlier reports had suggested; the estimates for earlier years were little changed.[2] The rise in the production of business equipment in 1999 and 2000 is now shown to have been, on balance, somewhat less than previously reported, and the subsequent contraction in 2001 and 2002 to have been less steep. On balance, the output of information processing equipment has been stronger over the 1999-2003 period than previously estimated, while the production of industrial equipment has been weaker. The production of defense and space equipment is now estimated to have declined more steeply in 1999 and 2000, and to have bounced back more rapidly in 2001 and 2002, than reported earlier. The output of materials is little changed from previous estimates. Capacity Utilization The revised indexes of capacity utilization are generally close to the previous estimates. The current revision places the factory operating rate at 73.5 percent for the fourth quarter of 2002 and at 73.0 percent for the third quarter of 2003--nearly identical to earlier reports and among the lowest rates since the early 1980s. The revisions to the operating rate at mines were also small. The utilization rate at electric and gas utilities was 83.3 percent in the third quarter of 2003, 0.1 percentage point lower than the rate reported previously. New estimates of the utilization at utilities in 2001 and 2002 were somewhat higher than indicated in earlier reports. Among high-technology industries, capacity utilization in the third quarter of 2003 remained at a low rate but was higher than the rate for the fourth quarters of 2001 and 2002. Relative to earlier estimates, the utilization rates for the third quarter of 2003 were lower for computers but a bit higher for communications equipment and semiconductors. For the fourth quarter of 2002, the current revision shows lower estimates for all three high-technology components than earlier estimates suggested. Capacity The revisions to manufacturing capacity from 1999 to 2003 are small. The general contour of the series shows rapid acceleration during the second half of the 1990s and a slowing since then. Manufacturing capacity is now estimated to have decelerated somewhat more in 2000 and 2001 than previously indicated, but in 2002 and 2003 it is estimated to have risen about 1.0 percent per year, a touch more than earlier estimates suggested. Within the technology sector, the rapid expansion that characterized the late 1990s has trailed off somewhat since then, although the revised capacity estimates show less of a slowdown, particularly in 2002, than was previously estimated. Excluding high-technology industries, manufacturing capacity has contracted slightly since 2001. Relative to the earlier reports, capacity in mines expanded at a slightly slower pace in 1999, 2000, and 2003 and at a slightly faster rate in 2001 and 2002. The new measures of capacity at electric and gas utilities show a lower rate of increase in the 2000-03 period than previously reported. The revisions to the capacity estimates for stage-of-process groups was small. Compared with the earlier estimates, the current capacity measures for 2003 reflect weaker expansion among producers of crude goods and a bit of an increase for producers of primary, semifinished, and finished goods. For 2002, the rate of change for all categories is currently estimated to have been a bit stronger than previously reported. Technical Aspects of the Revision As noted earlier, the annual revision incorporated comprehensive annual data on industry output, utilization, value added, and capital spending for 2001 and 2002, along with an update of all seasonal factors and monthly data on production, production worker hours, and electric power use. Annual data on output and prices for previous years that were revised by the original source were also included. As noted above, the current revision incorporated data from the 2001 ASM, along with revisions to the 2000 ASM. These new data, deflated by industry-specific price indexes, largely formed the basis for the annual estimates of manufacturing output for those years. After incorporating these data and other annual output measures into IP, the annual average change in total IP between 1999 and 2000 was revised down 0.3 percent, and the rate of change between 2000 and 2001 was revised up 0.1 percent. The industrial production and capacity data are based on the new 2002 North American Industry Classification System (NAICS). Last year's historical revision reclassified production and capacity indexes back to 1972 for individual industries from the Standard Industrial Classification system to NAICS.[3] The Federal Reserve's accompanying indexes of industrial electric power use are also based on the 2002 NAICS. As in the 2002 revision, all indexes are expressed as percentages of output in 1997. Revised Monthly Data This revision incorporates the product data that become available after the regular four-month reporting window for monthly IP has closed. For example, monthly data from the Gas Appliance Manufacturers Association on the production of water heaters and storage batteries are unavailable initially but become available for inclusion in the annual revision. The measures of inputs used to estimate monthly production were also updated. These included revised data on monthly production worker hours (based on the BLS benchmark of employment to March 2002 comprehensive measures) and on monthly electric power use since 1997. In June 2003, the BLS issued on a NAICS basis national employment, hours, and earnings data from the Current Employment Statistics program, which includes data on monthly production worker hours. Most of the individual hours series were restated on a NAICS basis back to 1990. For years before 1990, the Federal Reserve derived NAICS-based production worker hours series from a historical SIC-NAICS concordance developed from plant-level data records maintained by the Census Bureau. This concordance was created first by converting to NAICS the industry assignment of each establishment in the Censuses of Manufactures from 1963 to 1992 and then by cross-tabulating production worker hours, on both an SIC and a NAICS basis.[4] Seasonal factors for all series were reestimated using data that extend into 2003. Factors for production worker hours, which adjust for timing, holiday, and monthly seasonal patterns, were updated with data through September 2003. A new holiday factor was incorporated into seasonal adjustment of production worker hours. Specifically, measured production worker hours tend to be less in Julys when Independence Day falls on a Friday; an adjustment for this effect had been incorporated into the seasonal factors for recent monthly IP releases. Factors for the electric power series were reestimated using data through June 2003. The updated factors for the physical product series, which include adjustments for holiday and workday patterns, used data through at least June 2003. Seasonal factors for unit motor vehicle assemblies have been updated through June 2004 and are on the Board's web site at www.federalreserve.gov/releases/g17/mvsf.htm. Revisions by the Department of Energy (DOE) to the data for electric power producers resulted in new methods for constructing the output indexes for the related series. Previously, the DOE provided pooled monthly information for all nonutility power producers. In the past, the Federal Reserve estimated monthly power output for industrial and commercial power producers and then subtracted this amount from the combined DOE total. Recently, the DOE began providing explicit monthly production totals for independent power producers and for industrial and commercial power producers; thus, independent estimates are no longer necessary. Weights for Aggregation The IP index is an annually weighted Fisher index. This revision incorporates updated estimates of the industry value-added weights used in the aggregation of IP indexes and capacity utilization rates. The Census Bureau provides annual measures for manufacturers and quinquennial measures for mining, and 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. Annual data through 2001 were used in the estimation of industry value added. The weights for aggregation, expressed as unit value added, were estimated using the latest data on producer prices. Table 10 shows the annual value-added proportions incorporated in the IP index from 1995 through 2002. Changes to Market Groups This revision adjusts the market group structure to incorporate the 1997 input-output (I-O) tables issued by the Bureau of Economic Analysis earlier this year.[5] Beginning with the 2002 revision, the IP market groups were restructured to allow for the assignment of one industry to multiple market groups. The rationale is that a market group index reflects the input to a defined economic activity, and an industry's output is often related to more than a single market group. The share of each industry's output that contributes to a single market group was derived using the new interindustry relationships described by the new 1997 I-O tables. Changes to Individual Series Beginning with this revision, the capacity index includes new Department of Energy data for coal, which accounts for about 11-1/2 percent of mining capacity in 2002. The new data produced estimates that were little changed from those of the previous reports. 1. These comparisons use quarterly average data. 2. As discussed below, the market groups were revised to incorporate the new 1997 input-output tables issued by the Bureau of Economic Analysis. 3. A complete summary of the revisions and general methods used to prepare the 2002 historical and annual revision of the IP index are found in the Federal Reserve Bulletin, vol. 89 (April 2003), pp. 151-76 (www.federalreserve.gov/pubs/bulletin/2003/0403lead.pdf). 4. A more thorough discussion of the historical SIC-NAICS concordance can be found in the April 2003 Bulletin article. 5. The revision scheduled for fall 2004 will update the stage-of-process groups to reflect the 1997 I-O relationships. 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) | | | 1973 | .8 1.4 .1 -.3 .7 .1 .4 -.2 .8 .6 .4 -.2 | 13.0 2.8 3.1 5.2 | 8.2 1974 | -.5 -.4 .1 .0 .5 -.1 -.1 -.9 .0 -.5 -3.2 -3.5 | -2.9 1.0 -2.6 -15.2 | -.4 | | | 1975 | -1.1 -2.2 -1.1 -.1 -.2 .7 1.0 .8 1.2 .2 .3 1.4 | -22.8 -5.8 9.7 7.7 | -8.9 1976 | 1.5 1.2 .0 .7 .4 .0 .5 .7 .1 .2 1.5 1.2 | 13.8 5.7 4.6 7.7 | 7.8 1977 | -.5 1.4 1.3 .9 .7 .7 .3 .0 .4 .2 .0 .2 | 9.0 12.5 4.7 2.6 | 7.7 1978 | -1.2 .3 1.9 1.9 .5 .7 .0 .3 .2 .7 .7 .6 | -.7 16.5 3.6 6.8 | 5.5 1979 | -.5 .6 .3 -.9 .7 .0 -.3 -.7 .0 .4 -.1 .1 | 2.4 -.1 -2.0 .6 | 3.0 | | | 1980 | .6 .1 -.3 -2.0 -2.4 -1.3 -.6 .2 1.6 1.0 1.7 .6 | 2.2 -15.6 -6.2 15.2 | -2.6 1981 | -.6 -.3 .5 -.4 .7 .5 .7 -.1 -.7 -.8 -1.1 -1.1 | 1.3 1.8 4.0 -9.1 | 1.3 1982 | -1.8 1.9 -.7 -.8 -.7 -.3 -.4 -.9 -.5 -.9 -.4 -.8 | -7.2 -4.7 -6.1 -7.7 | -5.1 1983 | 1.8 -.5 .8 1.3 .7 .6 1.5 1.1 1.5 .8 .3 .7 | 4.3 10.0 14.4 10.7 | 2.6 1984 | 2.0 .3 .7 .6 .6 .4 .3 .1 -.2 -.2 .3 .1 | 12.4 6.8 3.0 -.1 | 9.1 | | | 1985 | -.3 .5 .1 .0 .1 .0 -.6 .5 .4 -.5 .3 1.0 | 1.0 1.0 -.6 1.9 | 1.3 1986 | .6 -.7 -.7 .1 .2 -.3 .6 -.2 .2 .4 .5 .9 | 2.6 -2.4 1.6 4.5 | 1.0 1987 | -.5 1.4 .2 .7 .6 .7 .6 .7 .2 1.4 .5 .4 | 4.9 7.7 7.3 9.1 | 5.0 1988 | .1 .5 .2 .4 .0 .2 .2 .5 -.3 .5 .2 .5 | 3.6 3.0 2.2 3.1 | 5.0 1989 | .3 -.5 .3 -.1 -.6 .0 -1.0 .9 -.3 -.1 .2 .7 | 1.6 -1.7 -2.8 1.5 | .9 | | | 1990 | -.5 .9 .4 .0 .1 .3 -.2 .3 .2 -.7 -1.2 -.7 | 3.0 3.0 1.3 -5.9 | .9 1991 | -.4 -.7 -.5 .2 1.0 1.0 .0 .0 .9 -.2 -.1 -.3 | -7.4 2.6 5.3 .7 | -1.5 1992 | -.6 .9 .7 .7 .4 -.1 .8 -.3 .1 .7 .5 .0 | -.1 7.0 2.7 4.3 | 2.8 1993 | .4 .4 .1 .2 -.3 .2 .4 -.1 .6 .6 .4 .6 | 3.5 1.1 2.1 6.2 | 3.3 1994 | .5 .1 .9 .5 .6 .7 .2 .6 .2 .8 .6 1.1 | 5.9 7.2 5.1 7.8 | 5.4 | | | 1995 | .4 .0 .0 .0 .2 .3 -.4 1.4 .5 -.2 .4 .4 | 5.7 .9 3.7 3.7 | 4.8 1996 | -.7 1.3 -.2 .9 .7 .9 -.1 .7 .6 .1 .9 .5 | 2.0 8.0 5.8 6.3 | 4.3 1997 | .3 1.4 .3 .5 .4 .5 .6 1.0 .8 .8 .7 .3 | 8.5 6.5 8.3 9.2 | 7.4 1998 | .5 .3 .3 .6 .5 -.4 -.2 2.0 -.2 .8 -.3 .0 | 5.0 4.2 3.7 4.9 | 5.9 1999 | .6 .4 .4 .2 .7 .1 .5 .7 -.2 1.0 .5 .8 | 3.6 4.4 4.9 7.0 | 4.4 | | | 2000 | -.1 .6 .4 .7 .6 .1 -.5 -.1 .4 -.4 -.1 -.3 | 4.6 6.7 -.6 -1.3 | 4.4 2001 | -.9 -.5 -.4 -.3 -.5 -.6 -.4 -.2 -.6 -.2 -.5 -.2 | -6.3 -5.0 -5.2 -4.5 | -3.4 2002 | .6 .2 .4 .4 .2 .6 -.1 .0 -.1 -.3 .1 -.5 | 1.9 4.2 1.2 -1.9 | -.6 2003 | .5 .4 -.7 -.6 -.1 .0 .7 .1 .4 | .9 -4.0 3.4 | | | | IP (1997=100) | | | 1973 | 54.9 55.7 55.8 55.6 56.0 56.0 56.2 56.1 56.5 56.9 57.1 57.0 | 55.5 55.8 56.3 57.0 | 56.1 1974 | 56.7 56.5 56.6 56.5 56.8 56.8 56.7 56.2 56.2 55.9 54.1 52.2 | 56.6 56.7 56.3 54.1 | 55.9 | | | 1975 | 51.6 50.5 49.9 49.9 49.8 50.1 50.6 51.0 51.6 51.7 51.9 52.6 | 50.7 49.9 51.1 52.1 | 50.9 1976 | 53.3 54.0 54.0 54.4 54.6 54.6 54.9 55.2 55.3 55.4 56.2 56.9 | 53.8 54.5 55.1 56.2 | 54.9 1977 | 56.6 57.4 58.2 58.7 59.1 59.5 59.7 59.7 60.0 60.1 60.1 60.3 | 57.4 59.1 59.8 60.2 | 59.1 1978 | 59.6 59.7 60.9 62.1 62.4 62.8 62.8 63.0 63.1 63.6 64.0 64.4 | 60.1 62.4 63.0 64.0 | 62.4 1979 | 64.1 64.4 64.6 64.1 64.5 64.5 64.3 63.9 63.9 64.2 64.1 64.2 | 64.4 64.4 64.0 64.1 | 64.2 | | | 1980 | 64.5 64.6 64.4 63.1 61.6 60.8 60.4 60.5 61.5 62.2 63.2 63.6 | 64.5 61.8 60.8 63.0 | 62.5 1981 | 63.2 63.0 63.4 63.1 63.5 63.9 64.3 64.2 63.8 63.3 62.6 61.9 | 63.2 63.5 64.1 62.6 | 63.4 1982 | 60.8 62.0 61.5 61.0 60.6 60.4 60.2 59.7 59.4 58.9 58.6 58.2 | 61.4 60.7 59.8 58.6 | 60.1 1983 | 59.2 58.9 59.4 60.2 60.6 61.0 61.9 62.6 63.5 64.0 64.2 64.6 | 59.2 60.6 62.7 64.3 | 61.7 1984 | 65.9 66.1 66.6 67.0 67.4 67.6 67.8 67.9 67.7 67.6 67.8 67.9 | 66.2 67.3 67.8 67.8 | 67.3 | | | 1985 | 67.7 68.1 68.1 68.1 68.2 68.2 67.7 68.1 68.3 68.0 68.2 68.9 | 68.0 68.1 68.1 68.4 | 68.1 1986 | 69.3 68.8 68.3 68.4 68.5 68.3 68.7 68.6 68.7 69.0 69.3 70.0 | 68.8 68.4 68.7 69.4 | 68.8 1987 | 69.6 70.6 70.7 71.2 71.6 72.0 72.5 73.0 73.1 74.1 74.5 74.8 | 70.3 71.6 72.9 74.5 | 72.3 1988 | 74.8 75.2 75.4 75.7 75.7 75.8 75.9 76.3 76.1 76.5 76.6 77.0 | 75.1 75.7 76.1 76.7 | 75.9 1989 | 77.2 76.8 77.0 77.0 76.5 76.5 75.8 76.5 76.2 76.1 76.3 76.8 | 77.0 76.7 76.1 76.4 | 76.6 | | | 1990 | 76.5 77.1 77.4 77.4 77.5 77.7 77.6 77.8 78.0 77.4 76.5 76.0 | 77.0 77.6 77.8 76.6 | 77.2 1991 | 75.7 75.1 74.7 74.9 75.7 76.4 76.4 76.4 77.1 76.9 76.8 76.6 | 75.2 75.7 76.6 76.8 | 76.1 1992 | 76.1 76.8 77.4 77.9 78.2 78.1 78.7 78.5 78.6 79.2 79.6 79.6 | 76.8 78.1 78.6 79.4 | 78.2 1993 | 79.9 80.2 80.3 80.5 80.2 80.4 80.7 80.6 81.0 81.6 81.9 82.4 | 80.1 80.3 80.8 82.0 | 80.8 1994 | 82.9 82.9 83.7 84.1 84.6 85.2 85.3 85.8 85.9 86.6 87.2 88.1 | 83.2 84.6 85.7 87.3 | 85.2 | | | 1995 | 88.5 88.5 88.5 88.5 88.7 89.0 88.6 89.8 90.2 90.0 90.3 90.7 | 88.5 88.7 89.5 90.4 | 89.3 1996 | 90.1 91.3 91.1 91.9 92.5 93.4 93.2 93.9 94.5 94.5 95.4 96.0 | 90.8 92.6 93.9 95.3 | 93.1 1997 | 96.3 97.6 97.9 98.4 98.8 99.3 99.9 100.9 101.7 102.5 103.2 103.5 | 97.3 98.8 100.8 103.1 | 100.0 1998 | 104.0 104.3 104.6 105.2 105.7 105.3 105.0 107.1 106.9 107.8 107.5 107.5 | 104.3 105.4 106.4 107.6 | 105.9 1999 | 108.2 108.6 109.0 109.2 110.0 110.1 110.6 111.4 111.1 112.3 112.8 113.7 | 108.6 109.7 111.1 112.9 | 110.6 | | | 2000 | 113.6 114.3 114.7 115.6 116.3 116.4 115.8 115.7 116.2 115.7 115.6 115.3 | 114.2 116.1 115.9 115.5 | 115.4 2001 | 114.2 113.6 113.2 112.8 112.3 111.6 111.1 110.9 110.2 109.9 109.4 109.1 | 113.7 112.2 110.7 109.5 | 111.5 2002 | 109.7 109.9 110.3 110.8 110.9 111.7 111.5 111.5 111.3 111.0 111.2 110.6 | 110.0 111.1 111.5 110.9 | 110.9 2003 | 111.2 111.6 110.8 110.1 110.0 110.0 110.8 110.8 111.3 | 111.2 110.0 111.0 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 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 | | | 1997 output) | | | 1973 | 62.5 62.7 62.9 63.1 63.3 63.5 63.7 63.9 64.1 64.3 64.5 64.7 | 62.7 63.3 63.9 64.5 | 63.6 1974 | 64.9 65.1 65.3 65.5 65.6 65.8 66.0 66.1 66.3 66.4 66.6 66.7 | 65.1 65.6 66.1 66.5 | 65.9 | | | 1975 | 66.8 66.9 67.0 67.2 67.3 67.4 67.5 67.6 67.7 67.9 68.0 68.1 | 66.9 67.3 67.6 68.0 | 67.5 1976 | 68.3 68.4 68.5 68.7 68.8 69.0 69.1 69.3 69.4 69.6 69.7 69.9 | 68.4 68.8 69.3 69.7 | 69.1 1977 | 70.0 70.2 70.4 70.5 70.7 70.9 71.1 71.3 71.4 71.6 71.8 72.0 | 70.2 70.7 71.3 71.8 | 71.0 1978 | 72.2 72.4 72.6 72.8 73.0 73.2 73.4 73.6 73.8 74.0 74.2 74.4 | 72.4 73.0 73.6 74.2 | 73.3 1979 | 74.5 74.7 74.9 75.1 75.3 75.4 75.6 75.7 75.9 76.1 76.2 76.4 | 74.7 75.3 75.7 76.2 | 75.5 | | | 1980 | 76.5 76.6 76.8 76.9 77.1 77.2 77.4 77.5 77.6 77.8 77.9 78.1 | 76.6 77.1 77.5 78.0 | 77.3 1981 | 78.3 78.4 78.6 78.8 79.0 79.1 79.3 79.5 79.7 79.9 80.1 80.3 | 78.4 79.0 79.5 80.1 | 79.3 1982 | 80.5 80.7 80.8 81.0 81.2 81.4 81.5 81.6 81.8 81.9 82.0 82.1 | 80.7 81.2 81.6 82.0 | 81.4 1983 | 82.2 82.2 82.3 82.3 82.4 82.4 82.5 82.5 82.6 82.6 82.7 82.8 | 82.2 82.4 82.5 82.7 | 82.4 1984 | 82.8 82.9 83.1 83.2 83.3 83.4 83.6 83.8 83.9 84.1 84.3 84.5 | 82.9 83.3 83.8 84.3 | 83.6 | | | 1985 | 84.7 84.9 85.1 85.2 85.4 85.6 85.8 86.0 86.2 86.3 86.5 86.6 | 84.9 85.4 86.0 86.5 | 85.7 1986 | 86.7 86.9 87.0 87.1 87.2 87.3 87.4 87.5 87.6 87.8 87.9 88.0 | 86.9 87.2 87.5 87.9 | 87.4 1987 | 88.2 88.3 88.4 88.6 88.7 88.9 89.0 89.2 89.3 89.4 89.5 89.6 | 88.3 88.7 89.2 89.5 | 88.9 1988 | 89.7 89.8 89.9 89.9 90.0 90.0 90.1 90.2 90.2 90.3 90.4 90.5 | 89.8 90.0 90.2 90.4 | 90.1 1989 | 90.7 90.8 90.9 91.1 91.3 91.4 91.6 91.8 92.0 92.2 92.4 92.6 | 90.8 91.3 91.8 92.4 | 91.6 | | | 1990 | 92.7 92.9 93.1 93.3 93.5 93.7 93.8 94.0 94.2 94.3 94.5 94.6 | 92.9 93.5 94.0 94.5 | 93.7 1991 | 94.8 94.9 95.1 95.2 95.4 95.5 95.7 95.8 96.0 96.1 96.3 96.4 | 94.9 95.4 95.8 96.3 | 95.6 1992 | 96.6 96.7 96.9 97.0 97.2 97.4 97.5 97.7 97.8 98.0 98.2 98.3 | 96.7 97.2 97.7 98.2 | 97.4 1993 | 98.5 98.6 98.8 99.0 99.1 99.3 99.4 99.6 99.8 100.0 100.2 100.4 | 98.6 99.1 99.6 100.2 | 99.4 1994 | 100.6 100.8 101.0 101.3 101.6 101.9 102.2 102.5 102.8 103.2 103.5 103.9 | 100.8 101.6 102.5 103.5 | 102.1 | | | 1995 | 104.3 104.7 105.1 105.6 106.0 106.5 106.9 107.4 107.9 108.4 109.0 109.5 | 104.7 106.0 107.4 109.0 | 106.8 1996 | 110.0 110.6 111.1 111.6 112.2 112.7 113.3 113.8 114.3 114.9 115.4 115.9 | 110.6 112.2 113.8 115.4 | 113.0 1997 | 116.4 117.0 117.5 118.0 118.6 119.2 119.8 120.4 121.0 121.7 122.4 123.1 | 117.0 118.6 120.4 122.4 | 119.6 1998 | 123.9 124.6 125.3 126.1 126.8 127.5 128.1 128.8 129.4 130.0 130.6 131.1 | 124.6 126.8 128.8 130.6 | 127.7 1999 | 131.7 132.2 132.6 133.1 133.5 134.0 134.4 134.9 135.3 135.8 136.3 136.7 | 132.1 133.5 134.9 136.3 | 134.2 | | | 2000 | 137.2 137.7 138.2 138.7 139.2 139.7 140.1 140.6 141.0 141.5 141.9 142.2 | 137.7 139.2 140.6 141.8 | 139.8 2001 | 142.6 142.9 143.2 143.5 143.8 144.0 144.3 144.5 144.7 144.9 145.2 145.4 | 142.9 143.8 144.5 145.2 | 144.1 2002 | 145.6 145.8 146.0 146.2 146.4 146.6 146.8 147.0 147.2 147.3 147.5 147.7 | 145.8 146.4 147.0 147.5 | 146.7 2003 | 147.8 148.0 148.1 148.3 148.4 148.5 148.7 148.8 148.9 | 148.0 148.4 148.8 | | | | Utilization | | | (percent) | | | 1973 | 87.9 88.8 88.7 88.1 88.4 88.2 88.2 87.8 88.2 88.5 88.5 88.0 | 88.5 88.3 88.1 88.3 | 88.3 1974 | 87.3 86.7 86.6 86.4 86.6 86.3 85.9 84.9 84.8 84.2 81.3 78.3 | 86.9 86.4 85.2 81.2 | 84.9 | | | 1975 | 77.3 75.4 74.5 74.3 74.0 74.4 75.0 75.5 76.2 76.2 76.3 77.2 | 75.7 74.2 75.6 76.6 | 75.5 1976 | 78.1 78.9 78.8 79.2 79.3 79.1 79.4 79.7 79.7 79.6 80.6 81.4 | 78.6 79.2 79.6 80.5 | 79.5 1977 | 80.8 81.7 82.6 83.2 83.6 83.9 84.0 83.8 83.9 83.9 83.7 83.6 | 81.7 83.6 83.9 83.7 | 83.2 1978 | 82.5 82.5 83.8 85.2 85.4 85.8 85.5 85.5 85.5 85.9 86.3 86.6 | 82.9 85.4 85.5 86.3 | 85.0 1979 | 85.9 86.2 86.3 85.3 85.7 85.5 85.1 84.3 84.2 84.4 84.1 84.0 | 86.2 85.5 84.5 84.2 | 85.1 | | | 1980 | 84.3 84.2 83.8 82.0 79.9 78.7 78.1 78.1 79.3 79.9 81.1 81.5 | 84.1 80.2 78.5 80.8 | 80.9 1981 | 80.8 80.4 80.6 80.1 80.4 80.7 81.1 80.8 80.0 79.2 78.1 77.1 | 80.6 80.4 80.6 78.2 | 79.9 1982 | 75.5 76.8 76.1 75.3 74.7 74.3 73.9 73.1 72.6 71.9 71.5 70.9 | 76.2 74.8 73.2 71.4 | 73.9 1983 | 72.1 71.7 72.2 73.1 73.6 74.0 75.1 75.9 77.0 77.5 77.7 78.1 | 72.0 73.6 76.0 77.8 | 74.8 1984 | 79.6 79.7 80.2 80.5 80.9 81.0 81.1 81.1 80.7 80.4 80.5 80.4 | 79.8 80.8 81.0 80.4 | 80.5 | | | 1985 | 80.0 80.2 80.1 79.9 79.8 79.6 79.0 79.2 79.3 78.8 78.9 79.5 | 80.1 79.8 79.1 79.1 | 79.5 1986 | 79.9 79.2 78.6 78.5 78.6 78.3 78.6 78.4 78.4 78.6 78.9 79.5 | 79.2 78.4 78.5 79.0 | 78.8 1987 | 78.9 79.9 79.9 80.3 80.7 81.0 81.4 81.8 81.9 82.9 83.2 83.5 | 79.6 80.7 81.7 83.2 | 81.3 1988 | 83.4 83.8 83.9 84.2 84.1 84.2 84.3 84.7 84.3 84.7 84.8 85.0 | 83.7 84.1 84.4 84.8 | 84.3 1989 | 85.2 84.6 84.7 84.5 83.8 83.7 82.7 83.3 82.8 82.6 82.6 83.0 | 84.8 84.0 82.9 82.7 | 83.6 | | | 1990 | 82.4 83.0 83.1 83.0 82.9 83.0 82.7 82.8 82.8 82.1 81.0 80.3 | 82.9 83.0 82.8 81.1 | 82.4 1991 | 79.8 79.1 78.6 78.6 79.3 80.0 79.8 79.8 80.3 80.0 79.8 79.4 | 79.2 79.3 80.0 79.7 | 79.6 1992 | 78.8 79.4 79.9 80.3 80.4 80.3 80.8 80.4 80.3 80.8 81.1 80.9 | 79.4 80.3 80.5 80.9 | 80.3 1993 | 81.1 81.3 81.3 81.3 80.9 80.9 81.1 80.9 81.2 81.6 81.8 82.1 | 81.2 81.1 81.1 81.8 | 81.3 1994 | 82.4 82.3 82.8 83.0 83.3 83.6 83.5 83.7 83.6 83.9 84.2 84.8 | 82.5 83.3 83.6 84.3 | 83.4 | | | 1995 | 84.8 84.5 84.2 83.8 83.7 83.6 82.8 83.6 83.6 83.0 82.9 82.9 | 84.5 83.7 83.3 82.9 | 83.6 1996 | 81.9 82.6 82.0 82.3 82.5 82.8 82.3 82.5 82.6 82.3 82.7 82.8 | 82.1 82.5 82.5 82.6 | 82.4 1997 | 82.7 83.5 83.4 83.4 83.3 83.3 83.4 83.8 84.0 84.2 84.3 84.1 | 83.2 83.3 83.7 84.2 | 83.6 1998 | 84.0 83.7 83.5 83.5 83.4 82.6 81.9 83.2 82.6 82.9 82.3 82.0 | 83.7 83.1 82.6 82.4 | 83.0 1999 | 82.2 82.1 82.2 82.1 82.3 82.1 82.3 82.6 82.1 82.7 82.8 83.2 | 82.2 82.2 82.3 82.9 | 82.4 | | | 2000 | 82.8 83.0 83.0 83.3 83.5 83.3 82.7 82.3 82.4 81.8 81.5 81.0 | 82.9 83.4 82.4 81.4 | 82.6 2001 | 80.1 79.5 79.0 78.6 78.1 77.5 77.0 76.7 76.1 75.8 75.3 75.1 | 79.5 78.0 76.6 75.4 | 77.4 2002 | 75.4 75.4 75.6 75.8 75.8 76.2 76.0 75.9 75.7 75.4 75.4 74.9 | 75.4 75.9 75.8 75.2 | 75.6 2003 | 75.2 75.4 74.8 74.2 74.1 74.0 74.5 74.5 74.8 | 75.1 74.1 74.6 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 are subject to further revision in the upcoming monthly releases. 1Table 2 RATES OF CHANGE IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY: 1999-2003 <1> -------------------------------------------------------------------------------------------------------------------------------------------- | | Difference between | Revised change | revised and earlier changes | (percent) | (percentage points) Item | 1999 2000 2001 2002 2003 | 1999 2000 2001 2002 2003 -------------------------------------------------------------------------------------------------------------------------------------------- | | Total IP | 4.9 2.3 -5.2 1.3 .0 | .0 -.4 .4 -.1 .1 | | MARKET GROUPS | | Final products and nonindustrial supplies | 2.8 2.3 -4.9 .5 -.1 | -.6 -.9 .5 .1 -.1 Consumer goods | 2.4 1.0 -2.2 1.0 -.5 | -.2 -.1 -.1 -.5 -.5 Durable | 4.6 -1.9 -2.9 6.0 1.9 | -1.1 .1 .1 .0 -.3 Automotive products | 5.1 -5.1 1.1 9.9 4.4 | -.4 -.3 -.6 .3 -.1 Home electronics | 11.9 15.7 -10.3 4.4 12.8 | -7.9 6.6 3.2 6.2 -1.6 Appliances, furniture, carpeting | 2.3 -.5 -2.0 1.8 2.3 | .0 .5 2.6 .1 1.2 Miscellaneous goods | 3.7 -.3 -8.1 2.4 -4.6 | -.6 -.9 1.4 .2 .8 Nondurable | 1.5 2.1 -1.9 -.8 -1.4 | .1 -.1 -.1 -.7 -.7 Non-energy | 1.2 1.0 -1.0 -2.8 -1.1 | .0 -.1 .0 -1.2 -.1 Foods and tobacco | .2 .7 -.6 -3.9 -1.4 | -.1 1.1 1.6 -2.9 .7 Clothing | -3.1 -5.6 -15.1 -2.4 -18.1 | -.3 .6 -2.5 2.2 -2.4 Chemical products | 4.5 4.4 3.0 -1.8 -.1 | -.3 -2.1 -1.8 1.3 -3.5 Paper products | 3.2 -1.2 -3.2 -.9 5.5 | 1.2 -2.2 -3.0 -.5 4.8 Energy | 3.1 7.1 -5.8 8.7 -2.7 | .1 -.5 -.6 .6 -3.2 | | Business equipment | 3.8 6.8 -12.8 -1.4 1.0 | -.2 -1.1 1.5 2.4 -.1 Transit | -11.5 -11.2 -5.9 -15.2 -9.1 | -1.3 -2.6 6.2 .4 -2.9 Information processing | 19.0 19.2 -12.8 5.5 8.2 | .4 -.8 .6 7.1 .4 Industrial and other | -.5 4.9 -15.0 -1.0 -.3 | -.7 -1.4 .7 -.3 .2 Defense and space equipment | -9.5 -3.1 12.4 3.6 5.5 | -4.4 -2.7 12.4 1.3 -1.6 | | Construction supplies | 2.6 -.1 -6.5 .4 -1.8 | .5 -.9 -.5 -.2 1.0 Business supplies | 4.9 2.9 -5.6 1.4 .3 | -2.6 -3.5 -.5 -.8 .4 | | Materials | 8.0 2.2 -5.7 2.5 .2 | .7 .2 .3 -.3 .5 Non-energy | 9.7 2.3 -6.6 3.0 .0 | .9 .1 .3 .2 .8 Durable | 12.9 5.6 -7.2 4.2 1.6 | 1.1 .0 .6 .4 1.3 Consumer parts | 7.2 -7.1 -7.2 6.7 -.1 | .3 -.8 -3.4 -1.2 -.2 Equipment parts | 25.6 23.0 -7.4 5.9 9.2 | 2.3 -.3 2.8 2.2 2.6 Other | 3.6 -3.9 -6.8 1.5 -3.6 | -.3 -.3 .4 -.4 .2 Nondurable | 3.7 -3.7 -5.6 .9 -2.7 | .0 -.2 -.2 -.4 .0 Textile | .6 -9.7 -11.6 -1.0 -16.4 | .3 -.1 1.0 -1.1 -.9 Paper | 2.3 -4.7 -6.1 1.5 -5.0 | -.4 -.9 -.5 -1.5 .2 Chemical | 7.4 -3.9 -5.1 1.7 -1.1 | .0 .2 .3 .5 -.9 Energy | 1.3 1.7 -2.9 1.0 .7 | .1 .7 .5 -1.6 -.6 | | | | INDUSTRY GROUPS | | Manufacturing | 5.5 2.0 -5.6 1.0 .2 | .0 -.5 .5 .1 .4 Manufacturing (NAICS) | 5.5 2.2 -5.5 1.2 -.1 | .0 -.4 .7 .1 .2 | | Durable manufacturing | 7.8 4.8 -7.3 3.0 1.7 | .0 -.7 1.0 1.1 .6 Wood products 321 | 1.7 -6.5 -2.2 -1.8 1.2 | -.1 .3 .9 -.7 2.2 Nonmetallic mineral products 327 | .3 -1.7 -5.6 2.1 -1.8 | .3 -1.4 -5.7 -.5 -.6 Primary metal 331 | 3.6 -9.1 -10.6 3.5 -7.5 | -.3 .4 .9 -.1 1.3 Fabricated metal products 332 | 2.6 .0 -8.4 -.1 -4.0 | .0 -.4 -.6 -1.2 .3 Machinery 333 | .1 2.5 -17.1 -.9 .5 | -.2 -2.4 .7 -.1 -1.3 Computer and electronic products 334 | 31.0 29.4 -7.5 10.8 14.6 | .4 -1.4 2.0 6.8 3.2 Electrical equip., appliances, | | and components 335 | 3.5 2.3 -12.7 -2.3 -2.9 | .6 -.4 -1.9 -.3 .3 Motor vehicles and parts 3361-3 | 5.8 -9.1 -2.8 9.9 1.9 | .1 -.7 -1.6 -1.0 -1.0 Aerospace and miscellaneous | | transportation equipment 3364-9 | -12.4 -3.9 4.9 -9.7 -1.7 | -1.2 .9 9.8 .9 -3.2 Furniture and related products 337 | 2.0 .6 -7.4 -.4 -2.8 | -.3 .0 1.4 1.4 2.1 Miscellaneous 339 | 2.2 6.1 -2.8 3.5 .7 | .2 2.3 2.9 1.7 2.5 | | Nondurable manufacturing | 2.4 -1.4 -3.3 -.9 -2.2 | -.1 -.1 .2 -1.1 -.3 Food, beverage, and tobacco products 311,2 | .1 .6 -.4 -3.5 -1.2 | -.1 1.0 1.4 -2.8 .6 Textile and product mills 313,4 | 2.1 -6.4 -10.3 -1.3 -10.4 | .2 -.1 2.2 -1.0 -.4 Apparel and leather 315,6 | -3.4 -5.4 -15.5 -2.0 -17.3 | -.3 .5 -2.5 2.5 -2.3 Paper 322 | 1.8 -4.8 -6.0 2.9 -3.6 | -.3 -.7 -.3 -.1 -.8 Printing and support 323 | .4 -1.4 -6.7 -1.7 -6.5 | .0 -.6 -1.1 -4.7 1.0 Petroleum and coal products 324 | 2.6 -1.7 -2.5 1.2 .6 | 1.0 -1.2 -2.1 -.1 .6 Chemical 325 | 5.1 -.2 -1.3 -.1 .0 | -.4 -.6 -.1 .9 -1.9 Plastics and rubber products 326 | 6.1 -3.2 -5.7 2.2 -1.3 | -.2 -1.2 .0 -.5 .1 | | Other manufacturing (non-NAICS) 1133,5111 | 4.6 -1.5 -6.3 -2.2 4.2 | .8 -1.9 -2.4 -.4 4.0 | | Mining 21 | .2 1.1 -1.0 -2.3 .5 | .0 .3 -.4 -.4 .5 Utilities 2211,2 | 2.3 6.1 -5.2 6.6 -1.7 | .3 .1 .3 -1.1 -2.5 Electric 2211 | 2.1 4.9 -3.7 5.5 -.1 | .4 .1 .3 -1.6 -2.1 Natural gas 2212 | 3.8 12.9 -12.8 13.4 -9.0 | -.3 .1 -.3 1.5 -3.1 -------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates for the third quarter of 2003 are subject to further revision in the upcoming monthly releases. <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. For 2003, the rates are calculated from the fourth quarter of 2002 to the third quarter of 2003 and annualized. 1Table 3 RATES OF CHANGE IN INDUSTRIAL PRODUCTION, SPECIAL AGGREGATES AND SELECTED DETAIL: 1999-2003 <1> ------------------------------------------------------------------------------------------------------------------------------------- | | Difference between | Revised change | revised and earlier changes | (percent) | (percentage points) Item | 1999 2000 2001 2002 2003 | 1999 2000 2001 2002 2003 ------------------------------------------------------------------------------------------------------------------------------------- | | Total industry | 4.9 2.3 -5.2 1.3 .0 | .0 -.4 .4 -.1 .1 | | Energy | 2.0 3.9 -3.6 2.9 -.4 | .1 .2 -.1 -.9 -1.4 Consumer products | 3.1 7.1 -5.8 8.7 -2.7 | .1 -.5 -.6 .6 -3.2 Commercial products | 2.2 6.0 -1.6 3.5 -1.7 | .4 -1.1 -2.0 -1.1 -1.8 Oil and gas well drilling | 9.6 29.3 -10.9 -14.8 5.2 | -.2 -.1 .0 .1 1.1 Converted fuel | 2.1 5.4 -7.9 3.7 -1.0 | -.2 .1 -.2 .8 -5.7 Primary materials | .7 -.3 -.2 -.4 1.6 | .2 1.0 .8 -2.8 2.1 | | Non-energy | 5.4 2.0 -5.6 1.0 .1 | .0 -.5 .5 .1 .4 Selected high-technology industries | 42.4 38.2 -8.4 15.3 20.0 | .8 -1.9 1.2 8.2 4.6 Computers and office equipment 3341 | 14.1 19.1 -5.7 24.0 10.4 | -5.6 1.4 .2 4.1 -10.7 Communications equipment 3342 | 31.5 27.7 -22.8 -5.5 6.8 | 4.4 -2.6 -2.7 11.1 8.5 Semiconductors and related | | electronic components 334412-9 | 64.6 52.8 .8 24.9 33.1 | 2.6 -3.0 4.2 5.1 8.4 | | Excluding selected high-technology | | industries | 1.8 -1.5 -5.2 -.1 -1.1 | -.1 -.3 .4 -.5 .1 | | Motor vehicles and parts 3361-3 | 5.8 -9.1 -2.8 9.9 1.9 | .1 -.7 -1.6 -1.0 -1.0 Motor vehicles 3361 | 2.6 -12.2 1.5 11.6 3.2 | .0 -.2 -.5 -.5 .0 Motor vehicle parts 3363 | 8.3 -5.7 -5.3 7.8 .7 | .4 -1.5 -3.1 -.9 -1.9 | | Excluding motor vehicles and parts | 1.4 -.8 -5.5 -1.0 -1.4 | -.1 -.3 .6 -.4 .3 Consumer goods | 2.3 -.2 -1.5 -.3 -.2 | .5 -1.0 .7 1.0 .9 Business equipment | -3.5 3.8 -11.5 -4.6 -.6 | -.7 -1.6 2.3 1.3 .3 Construction supplies | 2.4 -.4 -6.4 .5 -1.9 | .4 -.8 -.4 -.3 .8 Business supplies | 2.1 .5 -5.5 .7 -.7 | .1 -.7 -.6 -.6 .9 Materials | 3.1 -2.9 -7.2 .3 -2.8 | -.1 -.1 .1 -.6 .0 | | Measures excluding selected high-technology | | industries | | Total industry | 1.8 -.6 -4.9 .4 -1.0 | .0 -.2 .3 -.6 -.1 Manufacturing 2 | 1.8 -1.5 -5.2 -.1 -1.0 | -.1 -.3 .4 -.5 .1 Durable | 1.1 -1.6 -6.9 1.0 -.8 | -.1 -.3 .9 -.1 .0 | | Measures excluding motor vehicles and parts | | Total industry | 4.9 3.1 -5.4 .8 -.1 | .0 -.4 .5 .1 .2 Manufacturing 2 | 5.4 3.0 -5.8 .3 .1 | .0 -.5 .7 .2 .6 Durable | 8.0 7.2 -7.9 1.8 1.6 | .0 -.6 1.4 1.5 1.0 | | Measures excluding selected high-technology | | industries and motor vehicles and parts | | Total industry | 1.5 .1 -5.1 -.2 -1.2 | -.1 -.2 .5 -.5 .0 Manufacturing 2 | 1.5 -.7 -5.5 -.9 -1.3 | -.1 -.3 .5 -.5 .3 | | Stage-of-process components of non-energy | | materials, measures of the input to | | Finished processors | 15.4 8.1 -7.4 5.0 2.4 | 1.7 .1 .5 .4 1.7 Semifinished and primary processors | 4.1 -3.3 -5.8 1.2 -2.1 | -.2 -.2 .1 -.1 .0 | | Stage-of-process groups | | Crude | 1.6 -2.8 -2.8 -.8 -.5 | -.9 .4 .9 -.5 .5 Primary and semifinished | 7.5 2.7 -6.3 3.0 -.2 | .4 -.7 -.4 -.5 .4 Finished | 2.3 3.0 -4.4 -.3 .5 | -.3 -.3 1.3 .7 -.3 ------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates for the third quarter of 2003 are subject to further revision in the upcoming monthly releases. <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. For 2002, the rates are calculated from the fourth quarter of 2001 to the third quarter of 2002 and annualized. <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--that have traditionally been considered to be a part of manufacturing and are included in the industrial sector. 1Table 4 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- 1988- 1990- | Item | 2002 1989 1991 2001 2002 2003 | 2001 2002 2003 | Ave. High Low Q4 Q4 Q3 | Q4 Q4 Q3 --------------------------------------------------------------------------------------------------------------------------------------- Total industry | 81.3 85.2 78.6 75.4 75.2 74.6 | .3 -.1 -.1 | | Manufacturing | 80.2 85.6 77.2 73.5 73.5 73.0 | .2 .0 .1 Manufacturing (NAICS) | 80.0 85.5 77.0 73.2 73.2 72.5 | .3 .2 .2 | | Durable manufacturing | 78.5 84.5 73.4 70.3 70.5 70.1 | .3 .8 .9 Wood products 321 | 80.4 88.8 73.0 74.1 73.4 74.4 | .6 .9 2.5 Nonmetallic mineral products 327 | 79.4 85.7 72.1 76.3 77.9 76.9 | -4.0 -3.5 -3.5 Primary metal 331 | 81.0 95.3 75.2 73.5 77.1 72.6 | .5 -.4 .5 Fabricated metal products 332 | 77.2 80.3 71.1 70.2 69.7 67.4 | -.4 -1.1 -1.0 Machinery 333 | 79.8 84.6 72.8 66.5 66.7 67.5 | -.8 .0 -.4 Computer and electronic products 334 | 79.5 81.1 76.3 64.4 63.1 65.2 | .3 .8 .9 Electrical equip., appliances, | | and components 335 | 83.2 87.4 75.0 74.8 74.1 73.0 | -1.1 -1.4 -1.1 Motor vehicles and parts 3361-3 | 77.6 89.7 56.5 75.4 81.3 80.6 | .2 .4 .5 Aerospace and miscellaneous | | transportation equipment 3364-9 | 73.2 88.9 81.9 70.8 64.3 63.5 | 5.5 5.6 4.2 Furniture and related products 337 | 79.2 84.0 67.9 71.7 71.1 69.7 | .3 1.0 2.2 Miscellaneous 339 | 76.9 81.7 77.7 74.3 76.7 77.1 | -.4 2.0 4.6 | | Nondurable manufacturing | 82.2 87.0 81.8 77.1 76.7 75.9 | .1 -.8 -.9 Food, beverage, and tobacco products 311,2 | 82.3 85.5 81.3 79.6 77.3 77.1 | .6 -1.3 -.9 Textile and product mills 313,4 | 83.7 91.4 77.2 74.1 74.9 70.7 | 2.2 1.8 2.1 Apparel and leather 315,6 | 80.1 84.2 77.3 64.6 67.2 62.1 | -.9 4.0 4.8 Paper 322 | 88.4 93.7 85.2 80.8 84.9 83.4 | -.2 .7 .2 Printing and support 323 | 84.7 91.6 82.7 75.5 74.4 71.3 | -.7 -6.5 -5.3 Petroleum and coal products 324 | 86.3 88.9 82.5 87.2 88.1 87.6 | -1.4 -.8 -.2 Chemical 325 | 78.6 85.6 80.8 74.0 72.9 72.3 | -.7 -.8 -2.1 Plastics and rubber products 326 | 83.8 91.3 77.2 77.2 79.5 79.9 | 1.3 .1 .1 | | Other manufacturing (non-NAICS) 1133,5111 | 83.7 90.7 79.1 79.4 78.9 82.3 | -2.5 -3.5 -1.0 | | Mining 21 | 86.9 85.6 83.4 86.9 84.6 85.2 | .3 -.5 .4 Utilities 2211,2 | 87.0 92.8 84.1 86.7 87.2 83.3 | 1.7 1.2 -.1 | | Selected high-technology industries | 79.2 79.9 74.5 62.9 61.7 64.9 | -.2 -.4 .3 Computers and office equipment 3341 | 78.4 79.3 67.2 68.6 71.6 70.5 | -.1 -5.5 -11.0 Communications equipment 3342 | 78.6 81.7 73.2 58.8 48.2 50.2 | -1.9 -1.6 .8 Semiconductors and related | | electronic components 334412-9 | 81.0 80.5 78.1 63.4 66.7 72.8 | .2 -.3 1.9 | | Measures excluding selected high-technology | | industries | | Total industry | 81.4 85.6 78.8 76.4 76.3 75.6 | .1 -.5 -.3 Manufacturing 1 | 80.2 86.1 77.3 74.5 74.6 74.1 | .0 -.4 -.1 | | Stage-of-process groups | | Crude | 86.4 88.5 84.7 83.8 83.1 83.8 | .8 .0 1.1 Primary and semifinished | 82.4 86.4 77.5 76.3 77.5 76.4 | .1 -.4 -.2 Finished | 78.4 83.2 77.2 72.6 71.1 70.8 | .6 .5 .2 --------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates for the third quarter of 2003 are subject to further revision in the upcoming monthly releases. 1. See footnote 2 to table 3. 1Table 5 RATES OF CHANGE IN CAPACITY, BY INDUSTRY GROUPS: 1999-2003 <1> --------------------------------------------------------------------------------------------------------------------------------------------------------- | | Difference between | Revised change | revised and earlier changes | (percent) | (percentage points) Item | 1999 2000 2001 2002 2003 | 1999 2000 2001 2002 2003 --------------------------------------------------------------------------------------------------------------------------------------------------------- Total industry | 4.4 4.1 2.3 1.6 1.1 | .2 -.2 -.1 .5 .0 | | Manufacturing 2 | 5.0 4.8 2.2 1.1 1.0 | .2 -.1 -.2 .3 .2 | | Durable | 7.5 8.3 4.7 2.6 2.5 | .1 .0 .1 .4 .4 Nondurable | 2.2 .9 -.4 -.4 -.7 | .3 -.3 -.4 .2 -.2 | | Mining | -2.8 -1.2 2.7 .3 -.5 | -.2 -.8 .5 .5 -.9 Utilities | 1.9 2.5 3.7 6.0 4.4 | .6 -.4 -.4 -.5 -.6 | | | | Selected high-technology industries | 27.8 42.3 24.9 17.6 11.8 | -.7 1.9 1.7 8.9 2.0 Manufacturing 2 ex. selected | | high-technology industries | 2.6 1.2 .4 -.1 -.2 | .3 -.3 .0 .0 -.4 | | Stage-of-process groups | | Crude | -2.1 -1.3 1.2 -.3 -1.1 | .1 -.9 .4 .3 -1.0 Primary and semifinished | 5.5 5.1 2.8 1.8 1.8 | .5 -.5 -.3 .1 .3 Finished | 4.3 4.3 1.8 1.7 .8 | -.1 .2 -.2 .7 .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 3. 1Table 6 RATES OF CHANGE IN ELECTRIC POWER USE: 1999-2003 <1> ------------------------------------------------------------------------------------------------------------------------------------- | | Difference between | Revised rate | revised and earlier rates | (percent) | (percentage points) Item | 1999 2000 2001 2002 2003 | 1999 2000 2001 2002 2003 ------------------------------------------------------------------------------------------------------------------------------------- Total Industry | 2.2 1.0 -7.7 .5 -5.8 | 1.1 3.0 1.6 -.2 1.5 | | Manufacturing 2 | 2.6 1.2 -8.0 .9 -5.8 | 1.2 3.2 1.7 -.2 1.8 Durable | 3.0 -.1 -8.3 2.2 -7.1 | 1.3 3.2 1.9 -.8 2.7 Nondurable | 2.2 2.4 -7.9 -.1 -4.8 | 1.2 3.3 1.6 .2 1.0 | | Mining | -3.1 -2.7 -3.2 -4.7 -5.2 | .0 -.1 .1 .1 -2.8 | | Total ex. nuclear nondefense | 2.3 .2 -6.7 .4 -5.8 | 1.1 3.2 1.6 -.4 1.9 Utility sales to industry | 1.9 .6 -8.5 .4 -6.3 | 1.0 2.9 1.5 -.5 3.3 Industrial generation | 5.9 9.1 .2 2.1 -1.8 | 1.2 3.8 1.9 1.5 2.6 ------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates for the third quarter of 2003 are subject to further revision in the upcoming monthly releases. <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. For 2003, the rates are calculated from the fourth quarter of 2002 to the second quarter of 2003 and annualized. 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) | | | 1973 | .8 1.6 .3 -.3 .7 .0 .4 -.3 .8 .7 .6 .1 | 14.8 3.2 2.5 6.6 | 9.0 1974 | -.6 -.4 .1 -.1 .5 .1 -.3 -.8 .0 -.9 -2.9 -4.5 | -2.5 .4 -2.6 -16.8 | -.3 | | | 1975 | -1.7 -2.7 -1.3 -.4 .0 .9 1.4 .8 1.5 .2 .3 1.4 | -27.5 -7.3 12.9 9.1 | -10.6 1976 | 1.3 1.7 .1 .8 .4 .1 .7 .6 .1 .1 1.3 1.2 | 15.1 7.4 5.3 6.6 | 8.9 1977 | -.2 1.6 1.6 1.1 .7 .7 .2 .4 .1 .2 .1 1.2 | 11.2 14.4 5.3 3.8 | 8.7 1978 | -1.2 .1 1.8 1.5 .5 .8 .0 .4 .4 .6 .9 .8 | 1.0 13.9 4.3 7.8 | 6.0 1979 | -.6 .4 .4 -1.2 1.1 .1 .0 -1.3 .1 .2 -.3 .3 | 2.6 -.3 -1.6 -1.1 | 3.1 | | | 1980 | .5 .0 -.7 -2.0 -3.0 -1.5 -.9 .6 1.6 1.5 1.9 .3 | 1.6 -18.2 -7.7 17.8 | -3.7 1981 | -.4 -.3 .3 .6 .6 -.4 .3 -.1 -.6 -1.1 -1.2 -1.7 | 1.1 3.8 -.2 -10.8 | 1.0 1982 | -2.2 2.8 -.8 -.6 -.3 -.1 -.2 -.9 -.4 -1.2 -.6 -.4 | -8.3 -1.5 -4.3 -8.8 | -5.4 1983 | 2.4 -.1 1.0 1.2 1.4 .8 1.4 .7 1.9 1.1 .3 .3 | 9.1 12.6 14.9 12.1 | 4.6 1984 | 1.9 .9 .8 .5 .4 .5 .5 .2 -.3 .3 .2 .4 | 13.1 7.0 3.9 2.0 | 10.0 | | | 1985 | -.4 -.2 .7 -.1 .2 .2 -.6 .6 .1 -.4 .6 .4 | .0 1.8 .1 1.5 | 1.7 1986 | 1.2 -.5 -.4 .4 .2 -.3 .5 .3 .2 .3 .5 .9 | 4.8 .0 2.5 4.9 | 2.2 1987 | -.6 1.6 .1 .6 .6 .6 .7 .4 .5 1.4 .6 .5 | 5.3 7.6 7.2 10.4 | 5.5 1988 | -.2 .3 .3 .7 -.1 .0 .2 .1 .3 .6 .3 .5 | 2.7 3.8 1.6 4.7 | 5.1 1989 | .8 -1.0 -.1 .1 -.8 .2 -1.1 .9 -.3 -.1 .1 .2 | 1.8 -3.1 -3.3 .2 | .7 | | | 1990 | -.1 1.4 .3 -.1 .1 .3 -.2 .3 -.1 -.7 -1.2 -.7 | 4.5 2.8 .7 -6.6 | .7 1991 | -.7 -.7 -.7 .4 .7 1.1 .3 .1 1.0 -.2 -.3 -.1 | -8.7 2.1 6.9 1.4 | -2.0 1992 | -.6 1.1 .9 .5 .6 .2 .8 -.2 -.1 .6 .5 -.2 | 1.1 8.0 3.7 3.2 | 3.7 1993 | .9 .2 .0 .4 -.1 -.2 .3 -.2 .8 .7 .5 .7 | 4.4 1.6 1.2 6.9 | 3.5 1994 | .3 .2 1.1 .8 .8 .3 .4 .8 .2 .9 .8 1.2 | 5.9 9.2 5.9 9.5 | 6.1 | | | 1995 | .5 .0 .1 -.1 .0 .4 -.6 1.2 .9 -.2 .2 .5 | 6.2 .3 3.1 4.6 | 5.3 1996 | -.8 1.3 -.3 1.1 .8 1.1 .3 .7 .7 .0 .9 .8 | 1.0 9.1 8.3 6.7 | 4.7 1997 | .3 1.7 .6 .4 .5 .7 .5 1.2 .8 .7 .9 .4 | 10.0 7.8 9.2 9.7 | 8.6 1998 | .9 .3 .1 .7 .3 -.6 -.3 2.4 -.3 1.0 -.1 .2 | 6.9 3.8 3.9 6.8 | 6.8 1999 | .4 .6 .2 .3 .9 -.1 .4 .9 -.2 1.1 .7 .7 | 3.9 4.9 4.7 8.4 | 5.0 | | | 2000 | .0 .5 .7 .6 .4 .2 -.3 -.4 .4 -.4 -.4 -.6 | 5.1 6.7 -.7 -2.8 | 4.7 2001 | -.9 -.5 -.4 -.3 -.5 -.7 -.3 -.5 -.6 -.3 -.3 -.1 | -7.4 -4.9 -5.7 -4.3 | -4.0 2002 | .6 .1 .3 .2 .3 .6 -.2 .2 -.1 -.5 .0 -.6 | 2.1 3.4 1.7 -2.9 | -.7 2003 | .7 .0 -.3 -.6 -.1 .2 .5 -.2 .7 | 1.0 -3.2 2.9 | | | | IP (1997=100) | | | 1973 | 51.0 51.8 52.0 51.8 52.1 52.1 52.3 52.2 52.6 53.0 53.3 53.3 | 51.6 52.0 52.3 53.2 | 52.3 1974 | 53.0 52.8 52.8 52.7 53.0 53.0 52.8 52.4 52.4 52.0 50.5 48.2 | 52.9 52.9 52.6 50.2 | 52.1 | | | 1975 | 47.4 46.1 45.5 45.3 45.3 45.7 46.4 46.7 47.5 47.6 47.7 48.4 | 46.3 45.5 46.9 47.9 | 46.6 1976 | 49.0 49.9 49.9 50.3 50.6 50.6 50.9 51.2 51.3 51.3 52.0 52.6 | 49.6 50.5 51.2 52.0 | 50.8 1977 | 52.5 53.4 54.2 54.8 55.2 55.6 55.7 56.0 56.0 56.2 56.2 56.9 | 53.4 55.2 55.9 56.4 | 55.2 1978 | 56.2 56.3 57.3 58.1 58.4 58.8 58.8 59.0 59.3 59.7 60.2 60.7 | 56.6 58.4 59.1 60.2 | 58.6 1979 | 60.3 60.5 60.8 60.1 60.7 60.8 60.8 60.0 60.1 60.2 60.0 60.2 | 60.6 60.5 60.3 60.1 | 60.4 | | | 1980 | 60.5 60.5 60.0 58.9 57.1 56.2 55.7 56.1 57.0 57.8 58.9 59.1 | 60.3 57.4 56.3 58.6 | 58.2 1981 | 58.8 58.6 58.8 59.2 59.5 59.3 59.4 59.4 59.1 58.4 57.7 56.7 | 58.8 59.3 59.3 57.6 | 58.8 1982 | 55.5 57.0 56.6 56.3 56.1 56.1 56.0 55.5 55.2 54.6 54.3 54.0 | 56.4 56.2 55.6 54.3 | 55.6 1983 | 55.4 55.3 55.8 56.5 57.3 57.7 58.5 58.9 60.0 60.7 60.9 61.1 | 55.5 57.2 59.2 60.9 | 58.2 1984 | 62.2 62.8 63.3 63.6 63.8 64.2 64.5 64.6 64.4 64.6 64.8 65.0 | 62.8 63.9 64.5 64.8 | 64.0 | | | 1985 | 64.7 64.6 65.1 65.0 65.1 65.2 64.8 65.2 65.3 65.0 65.4 65.6 | 64.8 65.1 65.1 65.3 | 65.1 1986 | 66.4 66.1 65.8 66.1 66.2 66.0 66.4 66.5 66.7 66.9 67.2 67.8 | 66.1 66.1 66.5 67.3 | 66.5 1987 | 67.4 68.5 68.6 69.0 69.5 69.9 70.4 70.7 71.0 72.1 72.5 72.8 | 68.2 69.5 70.7 72.5 | 70.2 1988 | 72.7 72.9 73.1 73.6 73.6 73.6 73.8 73.9 74.1 74.5 74.7 75.1 | 72.9 73.6 73.9 74.8 | 73.8 1989 | 75.6 74.9 74.8 74.9 74.3 74.4 73.5 74.2 73.9 73.8 73.9 74.0 | 75.1 74.5 73.9 73.9 | 74.4 | | | 1990 | 74.0 75.0 75.3 75.2 75.2 75.4 75.3 75.5 75.4 74.9 74.0 73.5 | 74.7 75.3 75.4 74.1 | 74.9 1991 | 72.9 72.5 71.9 72.2 72.7 73.5 73.7 73.8 74.6 74.5 74.3 74.2 | 72.4 72.8 74.0 74.3 | 73.4 1992 | 73.8 74.5 75.2 75.6 76.1 76.2 76.8 76.6 76.6 77.0 77.4 77.3 | 74.5 75.9 76.6 77.2 | 76.1 1993 | 78.0 78.1 78.1 78.5 78.4 78.3 78.6 78.4 79.0 79.5 79.9 80.5 | 78.1 78.4 78.6 80.0 | 78.8 1994 | 80.7 80.9 81.8 82.4 83.0 83.3 83.6 84.3 84.5 85.3 85.9 87.0 | 81.1 82.9 84.1 86.1 | 83.6 | | | 1995 | 87.4 87.3 87.4 87.3 87.3 87.7 87.1 88.2 89.0 88.8 89.0 89.4 | 87.4 87.4 88.1 89.1 | 88.0 1996 | 88.7 89.8 89.5 90.5 91.2 92.2 92.5 93.1 93.8 93.8 94.7 95.4 | 89.3 91.3 93.1 94.7 | 92.1 1997 | 95.7 97.3 97.8 98.2 98.7 99.4 99.9 101.1 101.9 102.6 103.5 103.9 | 96.9 98.8 101.0 103.3 | 100.0 1998 | 104.8 105.1 105.2 106.0 106.4 105.8 105.5 108.0 107.7 108.9 108.8 109.0 | 105.1 106.1 107.1 108.9 | 106.8 1999 | 109.4 110.1 110.3 110.6 111.6 111.5 111.9 112.9 112.7 114.0 114.8 115.6 | 109.9 111.3 112.5 114.8 | 112.1 | | | 2000 | 115.6 116.2 117.0 117.8 118.2 118.4 118.1 117.6 118.1 117.6 117.1 116.5 | 116.2 118.1 117.9 117.1 | 117.4 2001 | 115.4 114.8 114.3 114.1 113.5 112.7 112.4 111.8 111.2 110.8 110.5 110.4 | 114.9 113.4 111.8 110.5 | 112.7 2002 | 111.0 111.0 111.4 111.6 111.9 112.6 112.4 112.6 112.5 111.9 111.9 111.3 | 111.1 112.1 112.5 111.7 | 111.8 2003 | 112.0 112.1 111.8 111.1 111.0 111.2 111.7 111.5 112.3 | 112.0 111.1 111.9 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 are subject to further revision in the upcoming monthly releases. <1> See footnote 2 to table 3. <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 | | | 1997 output) | | | 1973 | 58.7 58.9 59.1 59.2 59.4 59.6 59.8 60.0 60.2 60.4 60.6 60.8 | 58.9 59.4 60.0 60.6 | 59.7 1974 | 61.0 61.2 61.4 61.6 61.8 61.9 62.1 62.3 62.4 62.5 62.7 62.8 | 61.2 61.8 62.3 62.7 | 62.0 | | | 1975 | 62.9 63.0 63.2 63.3 63.4 63.5 63.6 63.7 63.8 64.0 64.1 64.2 | 63.0 63.4 63.7 64.1 | 63.6 1976 | 64.4 64.5 64.6 64.8 64.9 65.1 65.3 65.4 65.6 65.7 65.9 66.0 | 64.5 64.9 65.4 65.9 | 65.2 1977 | 66.2 66.4 66.5 66.7 66.8 67.0 67.2 67.3 67.5 67.7 67.9 68.1 | 66.4 66.8 67.3 67.9 | 67.1 1978 | 68.2 68.4 68.6 68.8 69.0 69.2 69.4 69.6 69.7 69.9 70.2 70.4 | 68.4 69.0 69.6 70.2 | 69.3 1979 | 70.6 70.8 71.0 71.2 71.4 71.6 71.7 71.9 72.1 72.3 72.5 72.7 | 70.8 71.4 71.9 72.5 | 71.6 | | | 1980 | 72.8 73.0 73.2 73.3 73.5 73.7 73.9 74.0 74.2 74.4 74.6 74.8 | 73.0 73.5 74.0 74.6 | 73.8 1981 | 75.0 75.2 75.4 75.6 75.8 76.0 76.2 76.4 76.5 76.7 76.9 77.1 | 75.2 75.8 76.4 76.9 | 76.1 1982 | 77.2 77.4 77.6 77.7 77.9 78.0 78.2 78.3 78.4 78.5 78.6 78.7 | 77.4 77.9 78.3 78.6 | 78.0 1983 | 78.7 78.8 78.9 78.9 79.0 79.0 79.0 79.1 79.2 79.2 79.3 79.4 | 78.8 79.0 79.1 79.3 | 79.0 1984 | 79.5 79.7 79.8 80.0 80.1 80.3 80.5 80.7 80.9 81.1 81.4 81.6 | 79.7 80.1 80.7 81.4 | 80.5 | | | 1985 | 81.8 82.0 82.3 82.5 82.7 82.9 83.1 83.3 83.5 83.6 83.8 83.9 | 82.0 82.7 83.3 83.8 | 82.9 1986 | 84.0 84.2 84.3 84.4 84.5 84.6 84.7 84.9 85.0 85.1 85.3 85.4 | 84.2 84.5 84.9 85.3 | 84.7 1987 | 85.6 85.8 85.9 86.1 86.3 86.5 86.6 86.8 86.9 87.1 87.2 87.3 | 85.8 86.3 86.8 87.2 | 86.5 1988 | 87.4 87.4 87.5 87.6 87.6 87.7 87.7 87.8 87.9 88.0 88.1 88.2 | 87.4 87.6 87.8 88.1 | 87.7 1989 | 88.4 88.5 88.7 88.9 89.1 89.3 89.5 89.7 89.9 90.1 90.3 90.5 | 88.5 89.1 89.7 90.3 | 89.4 | | | 1990 | 90.7 90.9 91.1 91.3 91.5 91.7 91.8 92.0 92.2 92.4 92.6 92.7 | 90.9 91.5 92.0 92.6 | 91.7 1991 | 92.9 93.1 93.2 93.4 93.6 93.7 93.9 94.0 94.2 94.3 94.5 94.7 | 93.1 93.6 94.0 94.5 | 93.8 1992 | 94.8 95.0 95.2 95.3 95.5 95.7 95.9 96.1 96.3 96.5 96.7 96.9 | 95.0 95.5 96.1 96.7 | 95.8 1993 | 97.1 97.3 97.5 97.7 97.8 98.0 98.2 98.4 98.6 98.8 99.1 99.3 | 97.3 97.8 98.4 99.1 | 98.2 1994 | 99.5 99.8 100.0 100.3 100.6 100.9 101.3 101.6 102.0 102.4 102.8 103.2 | 99.8 100.6 101.6 102.8 | 101.2 | | | 1995 | 103.6 104.0 104.5 105.0 105.5 106.0 106.5 107.1 107.6 108.2 108.8 109.4 | 104.0 105.5 107.1 108.8 | 106.4 1996 | 110.1 110.7 111.3 111.9 112.6 113.2 113.8 114.4 115.0 115.6 116.2 116.8 | 110.7 112.6 114.4 116.2 | 113.5 1997 | 117.4 118.0 118.6 119.2 119.8 120.5 121.2 121.9 122.7 123.4 124.2 125.1 | 118.0 119.9 121.9 124.2 | 121.0 1998 | 125.9 126.7 127.6 128.4 129.2 130.0 130.8 131.5 132.2 132.9 133.6 134.2 | 126.7 129.2 131.5 133.6 | 130.3 1999 | 134.8 135.4 135.9 136.5 137.0 137.5 138.0 138.6 139.1 139.7 140.3 140.9 | 135.4 137.0 138.6 140.3 | 137.8 | | | 2000 | 141.5 142.1 142.7 143.3 143.9 144.5 145.0 145.6 146.1 146.6 147.1 147.5 | 142.1 143.9 145.6 147.1 | 144.6 2001 | 147.9 148.3 148.6 148.9 149.2 149.4 149.6 149.8 150.0 150.2 150.3 150.4 | 148.3 149.2 149.8 150.3 | 149.4 2002 | 150.6 150.7 150.9 151.0 151.1 151.3 151.4 151.6 151.7 151.9 152.0 152.2 | 150.7 151.1 151.6 152.0 | 151.4 2003 | 152.3 152.4 152.6 152.7 152.8 153.0 153.1 153.2 153.3 | 152.4 152.8 153.2 | | | | Utilization | | | (percent) | | | 1973 | 87.0 88.1 88.0 87.4 87.7 87.4 87.4 86.9 87.3 87.6 87.9 87.7 | 87.7 87.5 87.2 87.7 | 87.5 1974 | 86.8 86.2 86.0 85.6 85.8 85.6 85.1 84.2 84.0 83.1 80.5 76.7 | 86.3 85.7 84.4 80.1 | 84.1 | | | 1975 | 75.3 73.1 72.0 71.6 71.5 72.0 72.9 73.4 74.4 74.4 74.4 75.4 | 73.5 71.7 73.5 74.7 | 73.4 1976 | 76.2 77.3 77.2 77.7 77.9 77.7 78.1 78.3 78.2 78.1 78.9 79.7 | 76.9 77.8 78.2 78.9 | 77.9 1977 | 79.3 80.4 81.5 82.2 82.6 83.0 82.9 83.1 83.0 83.0 82.8 83.6 | 80.4 82.6 83.0 83.1 | 82.3 1978 | 82.3 82.2 83.5 84.5 84.6 85.1 84.8 84.9 85.0 85.3 85.8 86.3 | 82.7 84.7 84.9 85.8 | 84.5 1979 | 85.5 85.6 85.7 84.4 85.1 85.0 84.7 83.4 83.3 83.2 82.8 82.8 | 85.6 84.8 83.8 82.9 | 84.3 | | | 1980 | 83.1 82.9 82.1 80.3 77.7 76.3 75.5 75.7 76.8 77.7 79.0 79.0 | 82.7 78.1 76.0 78.6 | 78.8 1981 | 78.5 78.0 78.0 78.3 78.5 78.0 78.0 77.8 77.1 76.1 75.1 73.6 | 78.2 78.3 77.7 74.9 | 77.3 1982 | 71.9 73.7 73.0 72.4 72.1 71.9 71.6 70.9 70.4 69.5 69.0 68.7 | 72.8 72.1 71.0 69.1 | 71.3 1983 | 70.3 70.1 70.8 71.6 72.5 73.1 74.1 74.5 75.8 76.6 76.8 76.9 | 70.4 72.4 74.8 76.8 | 73.6 1984 | 78.3 78.9 79.3 79.6 79.7 79.9 80.1 80.0 79.6 79.6 79.6 79.7 | 78.8 79.7 79.9 79.6 | 79.5 | | | 1985 | 79.1 78.8 79.1 78.8 78.7 78.6 78.0 78.3 78.2 77.8 78.1 78.2 | 79.0 78.7 78.2 78.0 | 78.5 1986 | 79.0 78.5 78.1 78.3 78.4 78.0 78.3 78.4 78.5 78.6 78.8 79.4 | 78.6 78.2 78.4 78.9 | 78.5 1987 | 78.8 79.9 79.9 80.2 80.5 80.8 81.2 81.4 81.7 82.8 83.2 83.5 | 79.5 80.5 81.5 83.1 | 81.2 1988 | 83.2 83.4 83.6 84.1 84.0 84.0 84.1 84.1 84.3 84.7 84.8 85.1 | 83.4 84.0 84.2 84.9 | 84.1 1989 | 85.6 84.6 84.4 84.2 83.4 83.3 82.2 82.7 82.3 82.0 81.8 81.8 | 84.8 83.7 82.4 81.9 | 83.2 | | | 1990 | 81.6 82.5 82.6 82.3 82.2 82.3 81.9 82.0 81.8 81.0 79.9 79.2 | 82.3 82.3 81.9 80.1 | 81.6 1991 | 78.5 77.9 77.2 77.3 77.8 78.5 78.5 78.5 79.2 78.9 78.6 78.4 | 77.8 77.8 78.8 78.6 | 78.3 1992 | 77.8 78.5 79.0 79.3 79.6 79.6 80.1 79.7 79.5 79.8 80.1 79.8 | 78.4 79.5 79.8 79.9 | 79.4 1993 | 80.3 80.3 80.2 80.4 80.2 79.9 80.0 79.6 80.1 80.5 80.7 81.0 | 80.3 80.1 79.9 80.7 | 80.3 1994 | 81.1 81.0 81.8 82.2 82.5 82.5 82.6 82.9 82.8 83.3 83.6 84.3 | 81.3 82.4 82.8 83.7 | 82.6 | | | 1995 | 84.3 83.9 83.6 83.1 82.8 82.7 81.8 82.3 82.7 82.1 81.8 81.7 | 84.0 82.9 82.3 81.9 | 82.7 1996 | 80.6 81.1 80.4 80.8 81.0 81.4 81.2 81.4 81.5 81.1 81.5 81.7 | 80.7 81.1 81.4 81.4 | 81.1 1997 | 81.5 82.4 82.5 82.4 82.4 82.5 82.5 82.9 83.1 83.1 83.3 83.1 | 82.1 82.4 82.8 83.2 | 82.6 1998 | 83.3 83.0 82.5 82.6 82.3 81.3 80.7 82.1 81.5 81.9 81.4 81.2 | 82.9 82.1 81.4 81.5 | 82.0 1999 | 81.2 81.3 81.1 81.1 81.5 81.1 81.1 81.5 81.0 81.6 81.9 82.1 | 81.2 81.2 81.2 81.9 | 81.4 | | | 2000 | 81.7 81.8 82.0 82.2 82.2 82.0 81.4 80.8 80.8 80.2 79.6 79.0 | 81.8 82.1 81.0 79.6 | 81.1 2001 | 78.0 77.4 76.9 76.6 76.1 75.4 75.1 74.6 74.1 73.8 73.5 73.4 | 77.5 76.0 74.6 73.5 | 75.4 2002 | 73.7 73.7 73.8 73.9 74.1 74.4 74.3 74.3 74.2 73.7 73.6 73.1 | 73.7 74.1 74.2 73.5 | 73.9 2003 | 73.6 73.5 73.3 72.7 72.6 72.7 73.0 72.8 73.3 | 73.5 72.7 73.0 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 are subject to further revision in the upcoming monthly releases. <1> See footnote 2 to table 3. 1Table 8A INDUSTRIAL PRODUCTION: Total Industry Excluding Selected High-Technology Industries <1> Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <2> --------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) | | | 1973 | .8 1.3 .1 -.4 .6 -.1 .4 -.3 .8 .6 .3 -.3 | 12.6 2.0 2.3 4.5 | 7.7 1974 | -.6 -.4 .1 .0 .5 -.1 -.1 -.8 -.2 -.4 -3.2 -3.6 | -3.9 .8 -2.4 -15.4 | -.9 | | | 1975 | -1.0 -2.1 -1.1 .0 -.2 .7 1.0 .8 1.2 .1 .2 1.3 | -22.7 -5.4 9.9 7.3 | -8.8 1976 | 1.4 1.2 -.1 .7 .3 .0 .4 .6 .0 .1 1.5 1.2 | 13.4 4.9 3.7 6.9 | 7.3 1977 | -.5 1.2 1.3 .8 .7 .5 .3 -.1 .4 .2 .0 .2 | 8.5 11.5 3.9 1.9 | 6.9 1978 | -1.2 .2 1.9 1.9 .4 .6 -.1 .2 .2 .7 .6 .5 | -1.4 16.0 2.8 5.9 | 4.8 1979 | -.6 .5 .2 -.9 .6 -.1 -.4 -.8 -.1 .4 -.2 .0 | 1.3 -.9 -3.2 -.4 | 2.1 | | | 1980 | .5 .0 -.4 -2.1 -2.5 -1.3 -.6 .1 1.7 1.0 1.7 .5 | 1.2 -16.7 -6.8 15.0 | -3.6 1981 | -.7 -.4 .5 -.6 .6 .5 .7 -.3 -.8 -.9 -1.2 -1.2 | .4 .9 3.4 -10.0 | .6 1982 | -1.9 1.8 -.7 -.9 -.8 -.4 -.5 -.9 -.5 -.9 -.4 -.9 | -8.1 -5.7 -6.8 -8.3 | -5.9 1983 | 1.7 -.5 .7 1.3 .7 .5 1.4 1.2 1.2 .7 .2 .6 | 3.5 9.1 13.5 9.6 | 1.8 1984 | 1.9 .1 .6 .5 .5 .2 .2 .0 -.3 -.2 .3 .1 | 11.3 5.3 1.8 -.8 | 7.9 | | | 1985 | -.4 .6 .0 .1 .1 .0 -.5 .5 .5 -.5 .2 1.0 | .8 1.5 -.1 2.0 | 1.0 1986 | .6 -.7 -.8 .1 .1 -.1 .3 -.2 .2 .4 .4 .8 | 2.6 -2.7 .7 4.0 | .9 1987 | -.7 1.4 .2 .6 .5 .6 .5 .6 .2 1.3 .5 .3 | 3.9 7.0 6.3 8.4 | 4.2 1988 | .0 .5 .2 .3 -.1 .1 .2 .5 -.4 .5 .2 .5 | 3.3 2.3 1.6 2.9 | 4.4 1989 | .3 -.5 .4 -.2 -.6 .0 -1.1 .9 -.4 -.2 .2 .7 | 1.8 -1.9 -3.6 .8 | .6 | | | 1990 | -.6 .8 .4 -.1 .1 .3 -.2 .3 .1 -.8 -1.3 -.7 | 2.3 2.4 1.0 -6.5 | .3 1991 | -.4 -.8 -.6 .2 1.0 1.0 .0 .0 .9 -.2 -.2 -.5 | -7.9 2.0 5.1 .1 | -2.0 1992 | -.8 .9 .7 .6 .3 -.2 .7 -.4 .1 .6 .4 .0 | -1.6 6.1 1.5 3.2 | 1.9 1993 | .4 .3 .1 .2 -.4 .2 .3 -.2 .5 .5 .3 .6 | 3.0 .6 1.2 4.9 | 2.5 1994 | .5 .1 .7 .2 .4 .6 .0 .4 .0 .6 .5 .9 | 5.1 4.8 3.2 5.6 | 4.0 | | | 1995 | .2 -.2 -.2 -.2 .0 .2 -.6 1.1 .1 -.6 .2 .3 | 3.1 -1.4 1.3 .4 | 2.4 1996 | -.9 1.2 -.4 .7 .5 .7 -.4 .5 .3 -.2 .8 .3 | .1 5.6 2.5 3.4 | 1.7 1997 | .1 1.1 -.1 .2 .0 .3 .5 .8 .7 .7 .4 .0 | 5.3 2.2 5.6 7.0 | 4.2 1998 | .1 .1 .2 .5 .4 -.8 -.7 1.8 -.5 .7 -.5 -.2 | 1.6 2.6 -.3 2.1 | 3.1 1999 | .3 .1 .1 -.2 .5 -.3 .1 .6 -.3 .8 .3 .5 | .5 .6 1.5 4.5 | 1.2 | | | 2000 | -.5 .3 .2 .4 .3 .0 -.8 -.3 .2 -.5 -.2 -.3 | .7 3.0 -3.2 -2.8 | 1.2 2001 | -.8 -.4 -.4 -.1 -.4 -.5 -.3 -.1 -.7 -.4 -.6 -.4 | -6.0 -3.8 -4.3 -5.5 | -3.9 2002 | .6 .1 .4 .3 .1 .6 -.2 -.2 -.2 -.3 .0 -.6 | 1.3 3.6 .0 -3.0 | -1.1 2003 | .5 .3 -.8 -.7 -.1 -.1 .6 -.1 .4 | .1 -5.0 2.0 | | | | IP (1997=100) | | | 1973 | 68.4 69.3 69.4 69.1 69.6 69.5 69.8 69.5 70.1 70.5 70.7 70.5 | 69.1 69.4 69.8 70.6 | 69.7 1974 | 70.1 69.7 69.8 69.8 70.1 70.1 70.0 69.4 69.3 69.0 66.8 64.4 | 69.9 70.0 69.6 66.7 | 69.0 | | | 1975 | 63.7 62.3 61.7 61.7 61.5 62.0 62.6 63.1 63.8 63.9 64.1 64.9 | 62.6 61.7 63.2 64.3 | 62.9 1976 | 65.8 66.6 66.6 67.0 67.2 67.2 67.5 67.9 67.9 68.0 69.0 69.8 | 66.4 67.2 67.8 68.9 | 67.6 1977 | 69.4 70.3 71.2 71.8 72.3 72.7 72.9 72.8 73.1 73.3 73.2 73.4 | 70.3 72.3 73.0 73.3 | 72.2 1978 | 72.5 72.6 74.0 75.4 75.7 76.2 76.2 76.3 76.5 77.0 77.4 77.8 | 73.0 75.8 76.3 77.4 | 75.6 1979 | 77.4 77.7 77.9 77.2 77.7 77.6 77.3 76.7 76.6 76.9 76.7 76.7 | 77.7 77.5 76.9 76.8 | 77.2 | | | 1980 | 77.1 77.1 76.8 75.2 73.3 72.3 71.8 71.9 73.1 73.9 75.2 75.6 | 77.0 73.6 72.3 74.9 | 74.4 1981 | 75.0 74.7 75.1 74.6 75.1 75.5 76.0 75.8 75.3 74.6 73.7 72.9 | 74.9 75.1 75.7 73.7 | 74.9 1982 | 71.5 72.8 72.3 71.6 71.1 70.8 70.4 69.8 69.5 68.8 68.5 67.9 | 72.2 71.2 69.9 68.4 | 70.4 1983 | 69.1 68.7 69.2 70.1 70.6 70.9 71.9 72.8 73.7 74.2 74.4 74.9 | 69.0 70.5 72.8 74.5 | 71.7 1984 | 76.3 76.4 76.8 77.2 77.6 77.8 77.9 77.9 77.7 77.5 77.7 77.8 | 76.5 77.5 77.8 77.7 | 77.4 | | | 1985 | 77.5 78.0 78.0 78.1 78.2 78.2 77.7 78.1 78.5 78.1 78.3 79.1 | 77.8 78.1 78.1 78.5 | 78.2 1986 | 79.6 79.0 78.4 78.4 78.5 78.4 78.7 78.5 78.6 78.9 79.3 79.9 | 79.0 78.5 78.6 79.4 | 78.9 1987 | 79.4 80.4 80.6 81.1 81.5 82.0 82.4 82.9 83.0 84.1 84.5 84.8 | 80.1 81.5 82.8 84.5 | 82.2 1988 | 84.8 85.2 85.4 85.7 85.6 85.6 85.8 86.2 85.9 86.3 86.5 86.9 | 85.1 85.6 86.0 86.6 | 85.8 1989 | 87.2 86.7 87.0 86.9 86.4 86.4 85.4 86.1 85.8 85.7 85.8 86.4 | 87.0 86.6 85.8 85.9 | 86.3 | | | 1990 | 85.9 86.6 86.9 86.8 86.9 87.1 87.0 87.2 87.3 86.7 85.6 84.9 | 86.4 87.0 87.2 85.7 | 86.6 1991 | 84.6 83.9 83.4 83.6 84.4 85.2 85.2 85.2 86.0 85.8 85.6 85.1 | 84.0 84.4 85.5 85.5 | 84.8 1992 | 84.5 85.2 85.8 86.3 86.5 86.4 87.0 86.6 86.6 87.2 87.6 87.6 | 85.1 86.4 86.7 87.4 | 86.4 1993 | 87.9 88.1 88.2 88.4 88.0 88.2 88.5 88.3 88.7 89.2 89.5 90.0 | 88.1 88.2 88.5 89.5 | 88.6 1994 | 90.4 90.5 91.1 91.3 91.7 92.2 92.2 92.6 92.5 93.1 93.6 94.4 | 90.7 91.7 92.4 93.7 | 92.1 | | | 1995 | 94.6 94.5 94.2 94.0 94.1 94.2 93.7 94.7 94.8 94.3 94.5 94.7 | 94.4 94.1 94.4 94.5 | 94.4 1996 | 93.9 95.0 94.6 95.3 95.8 96.4 96.0 96.4 96.8 96.6 97.4 97.7 | 94.5 95.8 96.4 97.2 | 96.0 1997 | 97.8 98.9 98.8 98.9 98.9 99.2 99.6 100.4 101.1 101.8 102.2 102.3 | 98.5 99.0 100.4 102.1 | 100.0 1998 | 102.4 102.5 102.7 103.2 103.6 102.8 102.1 103.9 103.3 104.1 103.5 103.3 | 102.5 103.2 103.1 103.6 | 103.1 1999 | 103.7 103.8 103.9 103.7 104.2 103.9 104.1 104.6 104.3 105.1 105.4 105.9 | 103.8 103.9 104.3 105.5 | 104.4 | | | 2000 | 105.4 105.7 105.9 106.3 106.6 106.5 105.7 105.4 105.7 105.1 104.9 104.6 | 105.7 106.5 105.6 104.9 | 105.7 2001 | 103.7 103.2 102.9 102.7 102.3 101.8 101.5 101.3 100.6 100.2 99.6 99.2 | 103.3 102.3 101.1 99.7 | 101.6 2002 | 99.8 99.9 100.3 100.7 100.7 101.3 101.1 100.9 100.7 100.3 100.3 99.8 | 100.0 100.9 100.9 100.1 | 100.5 2003 | 100.3 100.5 99.7 99.0 98.9 98.7 99.3 99.2 99.6 | 100.2 98.9 99.4 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 are subject to further revision in the upcoming monthly releases. <1> High technology industries include computers, communications equipment, and semiconductors and related electronic components. <2> Annual averages of industrial production are calculated from not seasonally adjusted indexes. 1Table 8B CAPACITY AND UTILIZATION: Total Industry Excluding Selected High-Technology Industries <1> Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual --------------------------------------------------------------------------------------------------------------------------------------------- | | | Capacity | | | (percent of | | | 1992 output) | | | 1973 | 77.6 77.8 78.0 78.2 78.4 78.6 78.9 79.1 79.3 79.5 79.8 80.0 | 77.8 78.4 79.1 79.8 | 78.8 1974 | 80.2 80.4 80.6 80.8 81.0 81.2 81.4 81.5 81.7 81.8 82.0 82.1 | 80.4 81.0 81.5 82.0 | 81.2 | | | 1975 | 82.3 82.4 82.5 82.7 82.8 82.9 83.0 83.1 83.2 83.4 83.5 83.6 | 82.4 82.8 83.1 83.5 | 82.9 1976 | 83.7 83.9 84.0 84.1 84.3 84.4 84.5 84.7 84.8 85.0 85.1 85.3 | 83.9 84.3 84.7 85.1 | 84.5 1977 | 85.4 85.6 85.8 85.9 86.1 86.3 86.5 86.7 86.9 87.1 87.3 87.5 | 85.6 86.1 86.7 87.3 | 86.4 1978 | 87.7 87.9 88.2 88.4 88.6 88.8 88.9 89.1 89.3 89.5 89.7 89.8 | 87.9 88.6 89.1 89.7 | 88.8 1979 | 90.0 90.2 90.3 90.5 90.6 90.7 90.9 91.0 91.1 91.3 91.4 91.5 | 90.2 90.6 91.0 91.4 | 90.8 | | | 1980 | 91.6 91.7 91.9 92.0 92.1 92.2 92.3 92.5 92.6 92.7 92.8 93.0 | 91.7 92.1 92.5 92.8 | 92.3 1981 | 93.1 93.2 93.4 93.5 93.7 93.8 94.0 94.1 94.3 94.5 94.6 94.8 | 93.2 93.7 94.1 94.6 | 93.9 1982 | 94.9 95.1 95.2 95.4 95.5 95.6 95.7 95.8 95.9 96.0 96.0 96.1 | 95.1 95.5 95.8 96.0 | 95.6 1983 | 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.2 | 96.1 96.1 96.1 96.1 | 96.1 1984 | 96.2 96.2 96.3 96.3 96.4 96.5 96.6 96.7 96.8 96.9 97.1 97.2 | 96.2 96.4 96.7 97.1 | 96.6 | | | 1985 | 97.4 97.5 97.7 97.8 98.0 98.1 98.3 98.4 98.6 98.7 98.8 99.0 | 97.5 98.0 98.4 98.8 | 98.2 1986 | 99.1 99.2 99.3 99.4 99.5 99.6 99.7 99.8 99.8 99.9 100.0 100.1 | 99.2 99.5 99.8 100.0 | 99.6 1987 | 100.2 100.3 100.4 100.5 100.6 100.7 100.8 100.9 101.0 101.0 101.1 101.1 | 100.3 100.6 100.9 101.1 | 100.7 1988 | 101.2 101.2 101.3 101.3 101.3 101.4 101.4 101.4 101.5 101.6 101.7 101.8 | 101.2 101.3 101.4 101.7 | 101.4 1989 | 101.9 102.0 102.1 102.3 102.4 102.6 102.8 103.0 103.1 103.3 103.5 103.7 | 102.0 102.4 103.0 103.5 | 102.7 | | | 1990 | 103.8 104.0 104.1 104.3 104.5 104.6 104.8 104.9 105.0 105.2 105.3 105.5 | 104.0 104.5 104.9 105.3 | 104.7 1991 | 105.6 105.7 105.9 106.0 106.1 106.3 106.4 106.5 106.6 106.7 106.8 107.0 | 105.7 106.1 106.5 106.8 | 106.3 1992 | 107.1 107.2 107.3 107.4 107.5 107.6 107.7 107.8 107.9 108.0 108.1 108.2 | 107.2 107.5 107.8 108.1 | 107.6 1993 | 108.3 108.4 108.5 108.6 108.8 108.9 109.0 109.1 109.2 109.3 109.4 109.5 | 108.4 108.8 109.1 109.4 | 108.9 1994 | 109.6 109.8 109.9 110.0 110.2 110.3 110.5 110.7 110.9 111.1 111.3 111.5 | 109.8 110.2 110.7 111.3 | 110.5 | | | 1995 | 111.8 112.0 112.3 112.5 112.8 113.1 113.4 113.6 113.9 114.2 114.4 114.7 | 112.0 112.8 113.6 114.4 | 113.2 1996 | 114.9 115.2 115.4 115.6 115.9 116.1 116.3 116.6 116.8 117.0 117.3 117.6 | 115.2 115.9 116.6 117.3 | 116.2 1997 | 117.8 118.1 118.5 118.8 119.1 119.5 119.8 120.2 120.6 121.0 121.3 121.7 | 118.1 119.1 120.2 121.3 | 119.7 1998 | 122.1 122.5 122.8 123.1 123.5 123.8 124.1 124.4 124.7 125.0 125.3 125.6 | 122.5 123.5 124.4 125.3 | 123.9 1999 | 125.8 126.1 126.4 126.6 126.9 127.1 127.3 127.5 127.7 127.9 128.1 128.2 | 126.1 126.9 127.5 128.1 | 127.1 | | | 2000 | 128.3 128.5 128.6 128.7 128.8 128.9 129.0 129.1 129.1 129.2 129.3 129.4 | 128.5 128.8 129.1 129.3 | 128.9 2001 | 129.5 129.6 129.7 129.8 129.9 130.0 130.1 130.2 130.3 130.4 130.5 130.6 | 129.6 129.9 130.2 130.5 | 130.0 2002 | 130.7 130.8 130.8 130.9 131.0 131.0 131.1 131.2 131.2 131.2 131.3 131.3 | 130.8 131.0 131.1 131.3 | 131.0 2003 | 131.3 131.3 131.3 131.4 131.4 131.4 131.4 131.4 131.5 | 131.3 131.4 131.4 | | | | Utilization | | | (percent) | | | 1973 | 88.2 89.1 89.0 88.4 88.7 88.4 88.5 87.9 88.4 88.6 88.7 88.2 | 88.8 88.5 88.2 88.5 | 88.5 1974 | 87.4 86.8 86.6 86.4 86.6 86.3 86.0 85.2 84.9 84.3 81.4 78.4 | 86.9 86.4 85.3 81.4 | 85.0 | | | 1975 | 77.4 75.7 74.7 74.6 74.3 74.7 75.4 75.9 76.7 76.7 76.7 77.6 | 75.9 74.6 76.0 77.0 | 75.9 1976 | 78.6 79.4 79.3 79.7 79.8 79.6 79.8 80.2 80.1 80.0 81.0 81.8 | 79.1 79.7 80.0 81.0 | 80.0 1977 | 81.3 82.1 83.1 83.6 84.0 84.2 84.3 84.0 84.1 84.1 83.9 83.8 | 82.2 83.9 84.2 83.9 | 83.5 1978 | 82.6 82.6 83.9 85.3 85.5 85.9 85.6 85.6 85.6 86.0 86.3 86.7 | 83.0 85.6 85.6 86.3 | 85.1 1979 | 86.0 86.2 86.3 85.3 85.7 85.5 85.0 84.2 84.1 84.2 83.9 83.8 | 86.1 85.5 84.4 84.0 | 85.0 | | | 1980 | 84.1 84.0 83.6 81.7 79.5 78.4 77.8 77.8 79.0 79.7 81.0 81.3 | 83.9 79.9 78.2 80.6 | 80.7 1981 | 80.6 80.1 80.4 79.8 80.2 80.5 80.9 80.6 79.8 79.0 77.9 76.9 | 80.4 80.2 80.4 77.9 | 79.7 1982 | 75.3 76.6 75.9 75.1 74.4 74.0 73.6 72.9 72.4 71.7 71.3 70.7 | 75.9 74.5 73.0 71.2 | 73.7 1983 | 71.9 71.5 72.0 72.9 73.4 73.8 74.8 75.7 76.7 77.2 77.4 77.8 | 71.8 73.4 75.7 77.5 | 74.6 1984 | 79.3 79.4 79.8 80.1 80.5 80.6 80.7 80.6 80.2 80.0 80.1 80.0 | 79.5 80.4 80.5 80.0 | 80.1 | | | 1985 | 79.6 80.0 79.9 79.9 79.8 79.7 79.1 79.4 79.7 79.2 79.2 79.9 | 79.8 79.8 79.4 79.4 | 79.6 1986 | 80.3 79.7 79.0 78.9 78.9 78.8 79.0 78.7 78.8 79.0 79.3 79.8 | 79.7 78.9 78.8 79.4 | 79.2 1987 | 79.2 80.2 80.3 80.7 81.0 81.4 81.8 82.2 82.2 83.3 83.6 83.8 | 79.9 81.0 82.0 83.6 | 81.6 1988 | 83.8 84.2 84.3 84.6 84.4 84.5 84.6 85.0 84.6 85.0 85.1 85.4 | 84.1 84.5 84.7 85.2 | 84.6 1989 | 85.6 85.0 85.2 85.0 84.3 84.2 83.1 83.6 83.2 82.9 82.9 83.3 | 85.3 84.5 83.3 83.0 | 84.0 | | | 1990 | 82.7 83.3 83.4 83.3 83.2 83.3 83.0 83.1 83.1 82.4 81.2 80.5 | 83.1 83.3 83.1 81.4 | 82.7 1991 | 80.1 79.4 78.8 78.9 79.5 80.2 80.1 80.0 80.6 80.4 80.1 79.6 | 79.4 79.5 80.2 80.0 | 79.8 1992 | 78.9 79.5 80.0 80.4 80.5 80.3 80.8 80.3 80.3 80.7 81.0 80.9 | 79.5 80.4 80.5 80.9 | 80.3 1993 | 81.1 81.3 81.3 81.4 80.9 81.0 81.2 80.9 81.2 81.6 81.8 82.1 | 81.2 81.1 81.1 81.8 | 81.3 1994 | 82.5 82.4 82.9 83.0 83.2 83.6 83.4 83.6 83.5 83.9 84.1 84.7 | 82.6 83.2 83.5 84.2 | 83.4 | | | 1995 | 84.6 84.3 84.0 83.6 83.4 83.3 82.6 83.4 83.3 82.6 82.5 82.6 | 84.3 83.4 83.1 82.6 | 83.4 1996 | 81.7 82.5 82.0 82.4 82.6 83.0 82.5 82.8 82.9 82.5 83.0 83.1 | 82.1 82.7 82.7 82.9 | 82.6 1997 | 83.0 83.7 83.4 83.3 83.1 83.0 83.2 83.5 83.9 84.2 84.3 84.0 | 83.3 83.1 83.5 84.2 | 83.5 1998 | 83.9 83.7 83.6 83.8 83.9 83.0 82.2 83.5 82.9 83.2 82.6 82.3 | 83.7 83.6 82.9 82.7 | 83.2 1999 | 82.4 82.3 82.2 81.9 82.1 81.8 81.7 82.1 81.7 82.2 82.3 82.6 | 82.3 81.9 81.8 82.4 | 82.1 | | | 2000 | 82.1 82.3 82.4 82.6 82.8 82.7 82.0 81.7 81.8 81.3 81.1 80.8 | 82.3 82.7 81.8 81.1 | 82.0 2001 | 80.1 79.7 79.3 79.1 78.8 78.3 78.0 77.8 77.2 76.9 76.3 76.0 | 79.7 78.7 77.7 76.4 | 78.1 2002 | 76.4 76.4 76.7 76.9 76.9 77.3 77.1 76.9 76.7 76.4 76.4 76.0 | 76.5 77.0 76.9 76.3 | 76.7 2003 | 76.4 76.5 75.9 75.4 75.3 75.1 75.6 75.5 75.8 | 76.3 75.3 75.6 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 are subject to further revision in the upcoming monthly releases. <1> High technology industries include computers, communications equipment, and semiconductors and related electronic components. 1Table 9A INDUSTRIAL PRODUCTION: Manufacturing <1> Excluding Selected High-Technology Industries <2> Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <3> --------------------------------------------------------------------------------------------------------------------------------------------- | | | IP (percent | | | change) | | | 1973 | .8 1.5 .2 -.4 .6 -.2 .4 -.5 .8 .7 .5 .1 | 14.2 2.3 1.6 5.8 | 8.5 1974 | -.8 -.5 .0 -.1 .4 .1 -.3 -.5 -.2 -.9 -2.9 -4.6 | -3.6 .1 -2.4 -17.1 | -1.0 | | | 1975 | -1.7 -2.6 -1.3 -.3 .0 .9 1.4 .8 1.6 .2 .3 1.4 | -27.5 -6.9 13.2 8.6 | -10.5 1976 | 1.3 1.7 .0 .8 .3 .0 .6 .5 -.1 .0 1.2 1.2 | 14.7 6.5 4.2 5.5 | 8.4 1977 | -.2 1.5 1.6 .9 .7 .6 .2 .3 .0 .2 .0 1.2 | 10.6 13.2 4.3 2.9 | 7.8 1978 | -1.3 .0 1.7 1.5 .4 .7 -.1 .3 .3 .6 .8 .8 | .2 13.2 3.3 6.8 | 5.2 1979 | -.8 .3 .4 -1.3 1.0 .0 -.1 -1.5 .0 .1 -.5 .2 | 1.2 -1.3 -3.0 -2.5 | 1.9 | | | 1980 | .4 -.1 -.9 -2.2 -3.1 -1.6 -.9 .5 1.7 1.5 1.9 .2 | .3 -19.7 -8.5 17.6 | -4.9 1981 | -.6 -.4 .3 .5 .5 -.5 .2 -.2 -.7 -1.2 -1.3 -1.9 | -.1 2.7 -1.2 -12.1 | .1 1982 | -2.3 2.6 -.8 -.7 -.4 -.1 -.4 -.8 -.5 -1.3 -.7 -.6 | -9.7 -2.6 -5.1 -9.7 | -6.5 1983 | 2.5 -.2 .9 1.1 1.3 .7 1.2 .9 1.5 1.1 .2 .3 | 8.3 11.6 13.7 10.7 | 3.7 1984 | 1.8 .8 .6 .3 .2 .3 .4 .1 -.4 .3 .2 .3 | 11.6 5.0 2.3 1.1 | 8.5 | | | 1985 | -.5 -.1 .7 .0 .2 .1 -.4 .7 .2 -.4 .5 .3 | -.3 2.5 .7 1.6 | 1.4 1986 | 1.3 -.5 -.5 .4 .1 -.1 .2 .2 .2 .3 .4 .8 | 5.0 -.2 1.3 4.3 | 2.2 1987 | -.8 1.6 .2 .5 .5 .5 .6 .3 .5 1.4 .5 .4 | 4.0 6.7 5.9 9.6 | 4.6 1988 | -.2 .3 .2 .6 -.2 -.1 .1 .1 .3 .5 .3 .5 | 2.2 3.0 .8 4.6 | 4.4 1989 | .8 -1.1 .0 .0 -.8 .1 -1.4 .8 -.3 -.3 .0 .2 | 2.1 -3.5 -4.4 -.7 | .4 | | | 1990 | -.2 1.4 .3 -.2 .0 .2 -.2 .3 -.1 -.8 -1.3 -.8 | 3.8 2.1 .3 -7.3 | .0 1991 | -.7 -.8 -.8 .4 .7 1.1 .3 .1 1.1 -.2 -.4 -.3 | -9.4 1.4 6.7 .7 | -2.6 1992 | -.8 1.1 .8 .4 .5 .1 .7 -.3 -.2 .5 .4 -.2 | -.7 6.9 2.3 1.8 | 2.5 1993 | .9 .1 -.1 .4 -.1 -.3 .3 -.4 .6 .6 .3 .6 | 3.8 1.0 .2 5.4 | 2.5 1994 | .3 .2 .9 .5 .5 .1 .2 .6 .0 .7 .6 1.0 | 4.9 6.4 3.7 6.9 | 4.4 | | | 1995 | .2 -.3 -.2 -.3 -.2 .3 -.9 .9 .6 -.6 -.1 .3 | 3.1 -2.4 .1 .7 | 2.5 1996 | -1.1 1.1 -.5 .9 .5 .8 .0 .4 .4 -.3 .8 .6 | -1.3 6.2 4.5 3.3 | 1.6 1997 | .0 1.3 .1 .0 .1 .4 .3 1.0 .6 .6 .6 .1 | 6.2 2.8 6.1 7.2 | 4.9 1998 | .5 .0 .0 .6 .3 -1.0 -.8 2.1 -.7 .9 -.3 -.1 | 3.0 2.0 -.8 3.8 | 3.5 1999 | .1 .3 -.2 -.1 .6 -.5 -.1 .8 -.3 .9 .4 .3 | .4 .6 .8 5.7 | 1.4 | | | 2000 | -.5 .2 .5 .2 -.1 .0 -.6 -.6 .2 -.5 -.6 -.6 | .5 2.4 -3.8 -4.7 | 1.0 2001 | -.8 -.4 -.4 -.1 -.3 -.6 -.2 -.4 -.6 -.5 -.4 -.3 | -7.2 -3.5 -4.6 -5.7 | -4.6 2002 | .6 .0 .3 .2 .2 .5 -.3 .0 -.2 -.6 -.1 -.7 | 1.4 2.5 .3 -4.3 | -1.3 2003 | .7 -.1 -.3 -.7 -.2 .0 .4 -.4 .6 | .1 -4.3 1.1 | | | | IP (1997=100) | | | 1973 | 66.6 67.6 67.8 67.5 67.9 67.8 68.0 67.7 68.2 68.7 69.0 69.1 | 67.3 67.7 68.0 68.9 | 68.0 1974 | 68.5 68.2 68.2 68.1 68.4 68.4 68.2 67.8 67.7 67.1 65.2 62.2 | 68.3 68.3 67.9 64.8 | 67.3 | | | 1975 | 61.1 59.5 58.7 58.5 58.6 59.1 60.0 60.4 61.4 61.5 61.6 62.5 | 59.8 58.7 60.6 61.8 | 60.2 1976 | 63.3 64.4 64.4 64.9 65.1 65.1 65.5 65.8 65.8 65.8 66.6 67.4 | 64.0 65.0 65.7 66.6 | 65.3 1977 | 67.3 68.2 69.3 70.0 70.4 70.9 71.0 71.2 71.3 71.4 71.4 72.2 | 68.3 70.4 71.2 71.7 | 70.4 1978 | 71.3 71.3 72.5 73.6 73.9 74.4 74.3 74.6 74.8 75.2 75.8 76.4 | 71.7 74.0 74.6 75.8 | 74.0 1979 | 75.8 76.0 76.3 75.3 76.0 76.0 75.9 74.8 74.9 74.9 74.6 74.7 | 76.0 75.8 75.2 74.7 | 75.4 | | | 1980 | 75.1 75.0 74.3 72.7 70.4 69.3 68.7 69.0 70.2 71.2 72.5 72.7 | 74.8 70.8 69.3 72.1 | 71.8 1981 | 72.3 72.0 72.1 72.5 72.8 72.5 72.7 72.5 72.0 71.1 70.2 68.9 | 72.1 72.6 72.4 70.1 | 71.8 1982 | 67.3 69.1 68.5 68.1 67.8 67.7 67.5 66.9 66.6 65.7 65.3 64.9 | 68.3 67.9 67.0 65.3 | 67.1 1983 | 66.5 66.4 67.0 67.7 68.6 69.1 69.9 70.5 71.6 72.4 72.5 72.7 | 66.6 68.5 70.7 72.5 | 69.6 1984 | 74.0 74.6 75.0 75.3 75.4 75.7 76.0 76.0 75.7 75.9 76.1 76.3 | 74.5 75.5 75.9 76.1 | 75.5 | | | 1985 | 75.9 75.8 76.4 76.4 76.5 76.6 76.3 76.8 76.9 76.6 77.0 77.3 | 76.0 76.5 76.7 77.0 | 76.5 1986 | 78.3 77.9 77.5 77.8 77.9 77.8 77.9 78.1 78.3 78.5 78.8 79.5 | 77.9 77.8 78.1 78.9 | 78.2 1987 | 78.8 80.1 80.2 80.6 81.0 81.4 81.9 82.1 82.5 83.7 84.1 84.5 | 79.7 81.0 82.2 84.1 | 81.8 1988 | 84.3 84.6 84.8 85.3 85.2 85.1 85.2 85.3 85.5 86.0 86.3 86.7 | 84.5 85.2 85.3 86.3 | 85.3 1989 | 87.4 86.5 86.4 86.4 85.7 85.8 84.7 85.4 85.1 84.9 84.9 85.0 | 86.8 86.0 85.0 84.9 | 85.7 | | | 1990 | 84.8 86.0 86.2 86.1 86.1 86.3 86.1 86.3 86.2 85.5 84.4 83.8 | 85.7 86.1 86.2 84.6 | 85.7 1991 | 83.2 82.5 81.8 82.2 82.7 83.6 83.8 83.9 84.8 84.6 84.3 84.0 | 82.5 82.8 84.2 84.3 | 83.5 1992 | 83.3 84.2 84.9 85.3 85.7 85.7 86.3 86.0 85.9 86.3 86.6 86.4 | 84.2 85.6 86.1 86.5 | 85.6 1993 | 87.2 87.3 87.3 87.6 87.5 87.3 87.6 87.2 87.8 88.3 88.6 89.2 | 87.3 87.5 87.5 88.7 | 87.7 1994 | 89.4 89.5 90.4 90.8 91.3 91.4 91.6 92.2 92.2 92.9 93.4 94.3 | 89.8 91.2 92.0 93.5 | 91.6 | | | 1995 | 94.5 94.2 94.0 93.7 93.5 93.8 92.9 93.8 94.4 93.8 93.8 94.0 | 94.3 93.7 93.7 93.9 | 93.9 1996 | 93.0 94.1 93.6 94.4 94.9 95.7 95.6 96.1 96.5 96.2 96.9 97.4 | 93.6 95.0 96.1 96.8 | 95.4 1997 | 97.4 98.7 98.8 98.8 98.9 99.3 99.6 100.6 101.2 101.8 102.4 102.5 | 98.3 99.0 100.5 102.2 | 100.0 1998 | 103.0 103.0 103.0 103.7 103.9 102.9 102.1 104.3 103.6 104.5 104.2 104.1 | 103.0 103.5 103.3 104.3 | 103.5 1999 | 104.2 104.5 104.3 104.3 104.9 104.4 104.3 105.1 104.8 105.8 106.2 106.6 | 104.4 104.5 104.7 106.2 | 105.0 | | | 2000 | 106.0 106.2 106.7 107.0 106.9 107.0 106.3 105.6 105.8 105.3 104.7 104.0 | 106.3 107.0 105.9 104.6 | 106.0 2001 | 103.1 102.7 102.3 102.2 101.9 101.3 101.1 100.7 100.0 99.5 99.1 98.8 | 102.7 101.8 100.6 99.1 | 101.1 2002 | 99.4 99.4 99.7 99.8 100.0 100.5 100.2 100.3 100.0 99.4 99.3 98.6 | 99.5 100.1 100.2 99.1 | 99.7 2003 | 99.3 99.2 98.8 98.1 97.9 98.0 98.4 98.0 98.6 | 99.1 98.0 98.3 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 are subject to further revision in the upcoming monthly releases. <1> See footnote 2 to table 3. <2> High technology industries include computers, communications equipment, and semiconductors and related electronic components. <3> Annual averages of industrial production are calculated from not seasonally adjusted indexes. 1Table 9B CAPACITY AND UTILIZATION: Manufacturing <1> Excluding Selected High-Technology Industries <2> Seasonally adjusted --------------------------------------------------------------------------------------------------------------------------------------------- | | | | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual --------------------------------------------------------------------------------------------------------------------------------------------- | | | Capacity | | | (percent of | | | 1997 output) | | | 1973 | 76.3 76.5 76.7 76.9 77.1 77.4 77.6 77.8 78.0 78.2 78.5 78.7 | 76.5 77.1 77.8 78.5 | 77.5 1974 | 78.9 79.1 79.3 79.5 79.7 79.9 80.1 80.3 80.5 80.6 80.8 80.9 | 79.1 79.7 80.3 80.8 | 80.0 | | | 1975 | 81.1 81.2 81.3 81.4 81.5 81.7 81.8 81.9 82.0 82.1 82.2 82.4 | 81.2 81.5 81.9 82.2 | 81.7 1976 | 82.5 82.6 82.8 82.9 83.0 83.2 83.3 83.5 83.6 83.8 83.9 84.1 | 82.6 83.0 83.5 83.9 | 83.3 1977 | 84.3 84.4 84.6 84.8 84.9 85.1 85.3 85.5 85.7 85.8 86.0 86.2 | 84.4 84.9 85.5 86.0 | 85.2 1978 | 86.4 86.6 86.8 87.0 87.2 87.4 87.6 87.8 87.9 88.1 88.3 88.5 | 86.6 87.2 87.8 88.3 | 87.5 1979 | 88.7 88.9 89.1 89.2 89.4 89.6 89.8 89.9 90.1 90.2 90.4 90.5 | 88.9 89.4 89.9 90.4 | 89.7 | | | 1980 | 90.7 90.8 91.0 91.1 91.3 91.5 91.6 91.8 91.9 92.1 92.3 92.4 | 90.8 91.3 91.8 92.3 | 91.6 1981 | 92.6 92.8 92.9 93.1 93.3 93.4 93.6 93.7 93.9 94.0 94.1 94.3 | 92.8 93.3 93.7 94.1 | 93.5 1982 | 94.4 94.5 94.6 94.7 94.8 94.9 94.9 95.0 95.1 95.1 95.1 95.1 | 94.5 94.8 95.0 95.1 | 94.8 1983 | 95.1 95.1 95.1 95.1 95.1 95.0 95.0 95.0 95.0 95.0 95.0 95.1 | 95.1 95.1 95.0 95.0 | 95.0 1984 | 95.1 95.2 95.2 95.3 95.4 95.6 95.7 95.8 96.0 96.1 96.3 96.5 | 95.2 95.4 95.8 96.3 | 95.7 | | | 1985 | 96.6 96.8 97.0 97.1 97.3 97.5 97.6 97.8 97.9 98.0 98.2 98.3 | 96.8 97.3 97.8 98.2 | 97.5 1986 | 98.4 98.5 98.6 98.7 98.8 98.9 99.0 99.1 99.2 99.3 99.4 99.5 | 98.5 98.8 99.1 99.4 | 99.0 1987 | 99.7 99.8 99.9 100.0 100.1 100.3 100.4 100.4 100.5 100.6 100.6 100.7 | 99.8 100.1 100.4 100.6 | 100.3 1988 | 100.7 100.8 100.8 100.8 100.8 100.9 100.9 101.0 101.0 101.1 101.2 101.3 | 100.8 100.9 101.0 101.2 | 101.0 1989 | 101.5 101.6 101.8 101.9 102.1 102.3 102.5 102.7 102.9 103.1 103.3 103.5 | 101.6 102.1 102.7 103.3 | 102.4 | | | 1990 | 103.6 103.8 104.0 104.1 104.3 104.5 104.6 104.8 105.0 105.1 105.3 105.4 | 103.8 104.3 104.8 105.3 | 104.5 1991 | 105.6 105.7 105.9 106.0 106.2 106.3 106.4 106.5 106.7 106.8 106.9 107.0 | 105.7 106.2 106.5 106.9 | 106.3 1992 | 107.1 107.2 107.4 107.5 107.6 107.7 107.8 108.0 108.1 108.2 108.4 108.5 | 107.2 107.6 108.0 108.4 | 107.8 1993 | 108.6 108.8 108.9 109.1 109.2 109.3 109.5 109.6 109.7 109.8 110.0 110.1 | 108.8 109.2 109.6 110.0 | 109.4 1994 | 110.2 110.4 110.5 110.6 110.8 111.0 111.1 111.3 111.5 111.7 111.9 112.2 | 110.4 110.8 111.3 111.9 | 111.1 | | | 1995 | 112.4 112.7 113.0 113.3 113.5 113.9 114.2 114.5 114.8 115.1 115.4 115.7 | 112.7 113.6 114.5 115.4 | 114.0 1996 | 116.0 116.2 116.5 116.8 117.0 117.3 117.6 117.8 118.1 118.3 118.6 118.9 | 116.2 117.0 117.8 118.6 | 117.4 1997 | 119.2 119.6 119.9 120.3 120.6 121.0 121.4 121.8 122.3 122.7 123.1 123.6 | 119.6 120.6 121.9 123.1 | 121.3 1998 | 124.0 124.4 124.8 125.2 125.5 125.9 126.2 126.6 126.9 127.2 127.5 127.8 | 124.4 125.5 126.6 127.5 | 126.0 1999 | 128.2 128.5 128.8 129.1 129.3 129.6 129.9 130.1 130.4 130.6 130.8 131.0 | 128.5 129.3 130.1 130.8 | 129.7 | | | 2000 | 131.2 131.4 131.5 131.7 131.8 131.9 132.0 132.1 132.2 132.3 132.4 132.5 | 131.4 131.8 132.1 132.4 | 131.9 2001 | 132.6 132.7 132.7 132.8 132.8 132.9 132.9 133.0 133.0 133.0 133.0 133.0 | 132.7 132.8 133.0 133.0 | 132.9 2002 | 133.0 133.0 133.0 133.0 133.0 132.9 132.9 132.9 132.9 132.9 132.8 132.8 | 133.0 133.0 132.9 132.8 | 132.9 2003 | 132.8 132.8 132.7 132.7 132.7 132.7 132.7 132.6 132.6 | 132.8 132.7 132.6 | | | | Utilization | | | (percent) | | | 1973 | 87.3 88.4 88.3 87.7 88.0 87.6 87.7 87.0 87.4 87.8 88.0 87.8 | 88.0 87.8 87.4 87.9 | 87.7 1974 | 86.9 86.2 85.9 85.6 85.8 85.6 85.1 84.5 84.1 83.2 80.7 76.8 | 86.3 85.7 84.6 80.2 | 84.2 | | | 1975 | 75.4 73.3 72.2 71.9 71.8 72.4 73.3 73.8 74.8 74.8 74.9 75.8 | 73.7 72.0 74.0 75.2 | 73.7 1976 | 76.7 77.9 77.8 78.3 78.4 78.3 78.6 78.8 78.6 78.5 79.3 80.1 | 77.5 78.3 78.7 79.3 | 78.4 1977 | 79.8 80.8 81.9 82.6 82.9 83.3 83.3 83.4 83.2 83.2 83.0 83.8 | 80.9 82.9 83.3 83.3 | 82.6 1978 | 82.5 82.4 83.6 84.6 84.8 85.2 84.9 85.0 85.1 85.4 85.8 86.3 | 82.8 84.9 85.0 85.8 | 84.6 1979 | 85.5 85.5 85.7 84.4 85.1 84.9 84.6 83.2 83.1 83.0 82.5 82.5 | 85.6 84.8 83.6 82.7 | 84.2 | | | 1980 | 82.8 82.5 81.7 79.8 77.1 75.8 74.9 75.2 76.3 77.3 78.6 78.6 | 82.3 77.6 75.5 78.2 | 78.4 1981 | 78.0 77.6 77.6 77.8 78.1 77.6 77.7 77.4 76.7 75.7 74.6 73.1 | 77.7 77.9 77.2 74.5 | 76.8 1982 | 71.4 73.1 72.5 71.9 71.6 71.4 71.1 70.4 70.0 69.1 68.6 68.2 | 72.3 71.6 70.5 68.7 | 70.8 1983 | 69.9 69.8 70.4 71.2 72.2 72.7 73.6 74.3 75.4 76.2 76.3 76.5 | 70.0 72.0 74.4 76.3 | 73.2 1984 | 77.8 78.4 78.8 79.0 79.1 79.2 79.4 79.3 78.9 79.0 79.0 79.1 | 78.3 79.1 79.2 79.0 | 78.9 | | | 1985 | 78.6 78.3 78.8 78.7 78.7 78.6 78.1 78.5 78.6 78.1 78.4 78.6 | 78.6 78.6 78.4 78.4 | 78.5 1986 | 79.6 79.1 78.6 78.9 78.9 78.7 78.7 78.8 78.9 79.0 79.3 79.8 | 79.1 78.8 78.8 79.4 | 79.0 1987 | 79.1 80.3 80.3 80.6 80.9 81.2 81.6 81.8 82.1 83.2 83.6 83.9 | 79.9 80.9 81.8 83.5 | 81.5 1988 | 83.7 83.9 84.1 84.6 84.4 84.4 84.4 84.5 84.7 85.0 85.2 85.5 | 83.9 84.5 84.5 85.3 | 84.5 1989 | 86.1 85.1 84.9 84.8 84.0 83.9 82.6 83.1 82.7 82.3 82.2 82.1 | 85.4 84.2 82.8 82.2 | 83.7 | | | 1990 | 81.9 82.9 82.9 82.6 82.5 82.6 82.2 82.4 82.1 81.3 80.2 79.5 | 82.6 82.6 82.3 80.3 | 81.9 1991 | 78.8 78.1 77.3 77.5 77.9 78.7 78.8 78.7 79.5 79.2 78.9 78.5 | 78.1 78.0 79.0 78.9 | 78.5 1992 | 77.8 78.5 79.1 79.3 79.6 79.6 80.0 79.7 79.4 79.7 79.9 79.7 | 78.5 79.5 79.7 79.8 | 79.4 1993 | 80.3 80.3 80.1 80.4 80.1 79.8 80.0 79.6 80.0 80.4 80.6 81.0 | 80.2 80.1 79.9 80.6 | 80.2 1994 | 81.1 81.1 81.8 82.1 82.4 82.4 82.4 82.8 82.7 83.2 83.5 84.1 | 81.3 82.3 82.7 83.6 | 82.5 | | | 1995 | 84.1 83.6 83.2 82.8 82.4 82.4 81.4 82.0 82.2 81.5 81.2 81.3 | 83.6 82.5 81.9 81.4 | 82.3 1996 | 80.2 80.9 80.3 80.9 81.1 81.6 81.4 81.5 81.7 81.3 81.7 81.9 | 80.5 81.2 81.5 81.6 | 81.2 1997 | 81.7 82.5 82.4 82.1 82.0 82.0 82.0 82.5 82.8 83.0 83.2 82.9 | 82.2 82.1 82.5 83.0 | 82.4 1998 | 83.1 82.8 82.6 82.8 82.8 81.7 80.9 82.4 81.6 82.1 81.7 81.4 | 82.8 82.5 81.6 81.8 | 82.2 1999 | 81.3 81.4 81.0 80.8 81.1 80.5 80.3 80.8 80.4 81.0 81.2 81.3 | 81.2 80.8 80.5 81.2 | 80.9 | | | 2000 | 80.8 80.8 81.1 81.2 81.1 81.1 80.5 79.9 80.0 79.5 79.0 78.5 | 80.9 81.1 80.1 79.0 | 80.3 2001 | 77.8 77.4 77.1 77.0 76.7 76.2 76.1 75.7 75.2 74.8 74.5 74.3 | 77.4 76.6 75.7 74.5 | 76.1 2002 | 74.7 74.7 74.9 75.1 75.2 75.6 75.4 75.4 75.3 74.8 74.7 74.2 | 74.8 75.3 75.4 74.6 | 75.0 2003 | 74.8 74.7 74.5 73.9 73.8 73.9 74.1 73.8 74.3 | 74.7 73.9 74.1 | --------------------------------------------------------------------------------------------------------------------------------------------- Note: Estimates from July 2003 through September 2003 are subject to further revision in the upcoming monthly releases. <1> See footnote 2 to table 3. <2> High technology industries include computers, communications equipment, and semiconductors and related electronic components. 1Table 10 ANNUAL PROPORTIONS IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY ------------------------------------------------------------------------------------------------------------------------------------------------------------ Item | 1995 1996 1997 1998 1999 2000 2001 2002 ------------------------------------------------------------------------------------------------------------------------------------------------------------ | Total IP | 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 | MARKET GROUPS | Final products and nonindustrial supplies | 56.0 56.4 56.9 58.2 57.7 57.7 59.3 58.9 Consumer goods | 27.6 27.7 27.6 28.1 28.3 28.6 30.3 31.1 Durable | 7.6 7.8 7.9 7.9 8.0 7.9 7.8 8.1 Automotive products | 3.4 3.6 3.7 3.7 3.9 3.7 3.7 4.0 Home electronics | .4 .4 .4 .4 .4 .4 .3 .3 Appliances, furniture, carpeting | 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 Miscellaneous goods | 2.4 2.4 2.4 2.4 2.4 2.3 2.3 2.3 Nondurable | 20.0 19.9 19.7 20.2 20.2 20.7 22.5 23.0 Non-energy | 16.4 16.3 16.4 16.9 16.7 16.9 18.4 18.6 Foods and tobacco | 8.8 8.7 8.8 9.2 9.2 9.4 10.2 10.4 Clothing | 1.9 1.8 1.6 1.5 1.3 1.2 1.1 1.0 Chemical products | 3.6 3.7 3.7 3.8 3.8 3.9 4.5 4.6 Paper products | 1.7 1.7 1.8 1.9 1.9 2.0 2.1 2.1 Energy | 3.6 3.7 3.4 3.2 3.5 3.8 4.1 4.4 | Business equipment | 10.9 11.2 11.8 12.3 11.9 11.7 11.1 10.0 Transit | 1.8 1.8 2.0 2.4 2.3 2.0 2.0 1.7 Information processing | 3.5 3.7 4.0 4.1 4.1 4.1 3.8 3.2 Industrial and other | 5.6 5.7 5.8 5.8 5.5 5.6 5.4 5.1 Defense and space equipment | 2.1 2.0 1.9 1.9 1.8 1.5 1.9 1.9 | Construction supplies | 4.0 4.1 4.1 4.3 4.3 4.3 4.3 4.3 Business supplies | 11.1 11.0 11.1 11.1 11.1 11.2 11.2 11.2 | Materials | 44.0 43.6 43.1 41.8 42.3 42.3 40.7 41.1 Non-energy | 34.0 33.4 33.8 33.3 33.2 32.3 30.7 30.5 Durable | 21.2 21.4 21.7 21.5 21.4 20.9 19.5 19.1 Consumer parts | 4.1 4.1 4.2 4.2 4.4 4.1 3.8 4.0 Equipment parts | 8.0 8.1 8.3 8.2 8.1 8.1 7.3 6.7 Other | 9.1 9.1 9.2 9.1 9.0 8.6 8.4 8.4 Nondurable | 12.8 12.1 12.1 11.9 11.7 11.4 11.2 11.3 Textile | 1.1 1.1 1.1 1.0 1.0 .9 .8 .8 Paper | 3.3 3.0 2.9 2.8 2.9 2.8 2.8 2.7 Chemical | 5.0 4.8 4.9 4.6 4.5 4.3 4.1 4.2 Energy | 9.9 10.2 9.3 8.5 9.2 10.1 10.0 10.6 | | INDUSTRY GROUPS | Manufacturing | 84.5 84.4 85.7 86.6 85.9 84.6 84.1 83.5 Manufacturing (NAICS) | 80.4 80.2 81.2 81.8 81.1 79.7 79.1 78.4 | Durable manufacturing | 44.8 45.5 46.5 47.1 46.6 45.5 43.8 42.6 Wood products 321 | 1.5 1.5 1.5 1.5 1.6 1.4 1.4 1.4 Nonmetallic mineral products 327 | 2.1 2.2 2.2 2.3 2.3 2.3 2.3 2.3 Primary metal 331 | 3.0 3.0 3.1 3.0 2.8 2.5 2.3 2.2 Fabricated metal products 332 | 5.8 6.0 6.1 6.1 6.0 6.1 6.0 5.9 Machinery 333 | 6.2 6.2 6.2 6.2 5.8 6.0 5.6 5.2 Computer and electronic products 334 | 9.7 9.9 10.4 10.3 10.3 10.3 9.0 8.1 Electrical equip., appliances, | and components 335 | 2.6 2.6 2.6 2.6 2.5 2.5 2.4 2.3 Motor vehicles and parts 3361-3 | 6.4 6.5 6.7 6.6 7.0 6.6 6.2 6.7 Aerospace and miscellaneous | transportation equipment 3364-9 | 3.3 3.2 3.5 4.1 3.8 3.3 3.8 3.6 Furniture and related products 337 | 1.4 1.5 1.6 1.7 1.7 1.7 1.7 1.7 Miscellaneous 339 | 2.7 2.8 2.8 2.8 2.8 2.9 3.1 3.2 | Nondurable manufacturing | 35.6 34.7 34.8 34.7 34.4 34.2 35.3 35.8 Food, beverage, and tobacco products 311,2 | 10.3 10.1 10.1 10.6 10.5 10.7 11.7 11.9 Textile and product mills 313,4 | 1.7 1.7 1.7 1.6 1.5 1.4 1.3 1.3 Apparel and leather 315,6 | 2.0 1.9 1.8 1.6 1.4 1.3 1.2 1.1 Paper 322 | 3.7 3.3 3.2 3.2 3.2 3.2 3.1 3.1 Printing and support 323 | 2.7 2.7 2.7 2.6 2.6 2.6 2.6 2.5 Petroleum and coal products 324 | 1.5 1.6 1.6 1.5 1.8 1.9 2.0 2.2 Chemical 325 | 10.1 10.0 10.1 9.9 9.6 9.4 9.7 10.0 Plastics and rubber products 326 | 3.6 3.6 3.7 3.7 3.8 3.7 3.7 3.8 | Other manufacturing (non-NAICS) 1133,5111 | 4.1 4.1 4.4 4.7 4.8 4.9 5.1 5.1 | Mining 21 | 5.7 6.1 5.4 4.8 5.6 6.5 6.5 6.8 Utilities 2211,2 | 9.8 9.6 9.0 8.6 8.5 8.9 9.4 9.8 Electric 2211 | 8.3 8.1 7.6 7.4 7.3 7.5 8.0 8.3 Natural gas 2212 | 1.5 1.4 1.3 1.2 1.2 1.4 1.4 1.5 ------------------------------------------------------------------------------------------------------------------------------------------------------------ Note. The IP proportion data are estimates of the industries' relative contributions to the overall IP change between the reference year and the following year. For example, a 1 percent increase in durable goods manufacturing between 2002 and 2003 would account for a 0.426 percent increase in total IP. 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. The release also includes monthly indexes on the use of electric power in manufacturing and mining. More detailed descriptions of industrial production, capacity utilization, and electric power are available at www.federalreserve.gov/releases/G17 at the Board's World Wide Web site. 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 at the Board's Web site. Instructions for searching for and downloading specific series are provided as well. For paid access to the data files through the Department of Commerce's Economic Bulletin Board or World Wide Web site, please call STAT-USA at 1-800-STAT-USA or 202-452-1986. Diskettes containing historical data and the data published in this release also are available from the Board of Governors of the Federal Reserve System, Publications Services, 202-452-3245. 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 1992. For the period since 1997, the total IP index has been constructed from 276 individual series based on the 1987 Standard Industrial Classification (SIC) 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 intermediate products (which are inputs to nonindustrial sectors). Materials are inputs in the manufacture of products. Major industry groups include two-digit SIC 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 web site (www.federalreserve.gov/releases/G17/About.html) . Changes in output for the market and industry groups are summarized in table 1 and the levels of output (in index form) are shown in table 4. Special aggregates, that highlight the relative importance and contributions of several key industries, such as high-technology and motor vehicles, are summarized in tables 2 and 5. For a detailed description of the contents of the statistical tables, see below. 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 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 or sales and unit values) by a corresponding Fisher price index; the most notable of these fall within the high-technology grouping and include computers and semiconductors. When suitable data on physical product are not available, estimates of output are based on either production-worker hours or electric power use by industry. Data on hours worked by production workers are collected in the monthly establishment survey conducted by the Bureau of Labor Statistics. The data on electric power use are described below. 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 United States 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 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 1977. Between 1977 and 1992, the weights for months from January to June were drawn from the year containing the month being estimated and the preceding year; for months from July to December, the weights are drawn from the current and following year. Since mid-1992, the weights change monthly, eliminating distortions in the contributions of several high-technology industries-sectors where weights shift noticeably year-to-year. Thus, the current formula for the growth in monthly IP (or any of the sub-aggregates) since mid 1992 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 (pm) and the estimate for previous month: The IP proportions (typically shown in the first column of the relevant tables in the 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 percentage point (0.05 x 10% = 0.5%). To assist users with calculations, the Federal Reserve's web site 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/ipweights.sa). 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 three 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 48 percent of the source data (in value-added terms) are available; the fraction of available source data increases to about 85 percent for estimates in the second month that the estimate is published, 96 percent in the third month, and 97 percent in the fourth month. Data availability by data type is summarized in the table below: Proportion (in percent) of industrial production covered by data available in successive monthly estimates, 1999. Month of estimate Type of data 1st 2nd 3rd 4th Physical product 19\1 33 46\2 47 Production-worker hours 28\3 28 28 28 Electric power use 0 22 22 22 Federal Reserve estimates\4 53 17 3 3\5 Total industrial production 100 100 100 100 1.Includes provisional series totaling nearly 13 percent of IP that are derived from weekly data and for which the actual data may lag several months. 2.Includes quarterly data totaling 6 percent of IP that, on average, are received for the third estimate of industrial production. Specifically, data are available for the second estimate of the last month of a quarter, the third estimate of the second month of a quarter, and the fourth estimate of the first month of a quarter. 3.This figure refers only to those individual series that both initially and ultimately are based on the hours data. 4.Estimates for series not yet covered by data for physical product or electric power use. 5.Includes monthly and quarterly physical product data totaling 3 percent of IP that typically are available too late for inclusion in the current index but are included at the time of an annual revision. Until the source data for a particular series become available for a given month, estimates for the missing observations are based on other available data, such as labor input, recent trends in output and orders, and anecdotal reports from industry sources. After the fourth month that an estimate is published, indexes are not revised further until the time of an annual revision or a benchmark revision. These historical revisions are typically published in the late fall of each year; the most recent revision was published on December 5, 2000, and incorporated revised source data as well as data from the 1998 Annual Survey of Manufactures and the 1997 Census of Manufactures. Seasonal adjustment. Individual series are seasonally adjusted using Census X-12 ARIMA. For series based on production-worker hours, the current seasonal factors were estimated with data through October 2000; for other series, the factors were estimated with data through at least June 2000. Series are pre-adjusted for the effects of holidays or the business cycle when appropriate. For the data since 1977, all seasonally adjusted aggregate indexes are calculated by aggregating the seasonally adjusted indexes of the individual series. Reliability. The average revision to the level of the total IP index, without regard to sign, between the first and the fourth estimates was 0.27 percent during the 1987-99 period. The average revision to the percent change in total IP, without regard to sign, from the first to the fourth estimates was 0.21 percentage point during the 1987-99 period. In most cases (about 83 percent), the direction of 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 76 detailed industries (56 in manufacturing, 18 in mining, and 2 in utilities), which mostly correspond to industries at the two- and three-digit SIC level. Estimates of capacity and utilization are available for a variety of groups, including primary and advanced processing industries within manufacturing, durable and nondurable manufacturing, total manufacturing, mining, utilities, and total industry. Also, special aggregates are available, such as high-tech industries and manufacturing excluding high-tech industries. Component industries of the primary- and advanced-processing groups within manufacturing are listed in the note on table 2 of the release. 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 (e.g., paper, industrial chemicals, petroleum refining, motor vehicles), as well as for electric utilities and mining; these industries represent about 15 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 Survey of Plant Capacity (SPC); these industries account for a bit more than 80 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 4 percent of total industry capacity). A detailed description of the methodology used to construct the capacity indexes is available on the Board's web site (www.federalreserve.gov/releases/G17/cap_notes.html). 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 was a survey of large companies that reported, on average, higher utilization rates than those reported by establishments covered by the SPC (currently the primary source of factory operating rates) for the fourteen years they overlapped. Adjustments have been made to keep the industry utilization rates currently reported by the Federal Reserve 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 SPC. Perspective. Over the 1967-1999 period, the average total industry utilization rate is 82.0 percent; for manufacturing, the average factory operating rate has been 81.1 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 industry and total manufacturing, utilization rates have exceeded 90 percent only in wartime. The highs and lows in capacity utilization shown in table 6 are specific to each series and do not all occur in the same month. Electric Power Coverage. Electric power data for sales by utilities to industry users and for electric power produced by cogenerators (manufacturing and mining firms that produce electricity for their own use or to sell to a utility) are generally collected at the 3-digit SIC level for mining and manufacturing. Aggregates for 2-digit industries, as well as for total mining, durable, nondurable, total manufacturing and total industrial electric power use, are computed. An aggregate showing total industry excluding nuclear nondefense is shown separately because the value-added proportion for the nondefense nuclear material series (part of SIC 2819) in total IP is considerably less than its share of total electric power use. In addition, aggregates for utility sales to industrial users and industry generation are computed. While only the major aggregates are shown in the release, data for the 2- and 3-digit industries are available on the Board's web site (www.federalreserve.gov/releases/G17). Source Data. Electric power data are collected from a sample of utilities and cogenerators covering all twelve Federal Reserve Districts. The primary criterion for inclusion of a utility in the panel is whether the utility provides electric power to industrial customers. A comparison of Federal Reserve kilowatt-hour aggregates to estimates from the 1998 Annual Survey of Manufactures (the most recent available) suggests the Federal Reserve data cover about 75 percent of the overall sales to manufacturing in that year. The cogeneration panel covers about 50 percent of cogeneration used directly by manufacturers. In order to provide more complete coverage and correct for any shortcomings of the survey, the series are benchmarked at the 3-digit industry level to the latest available data from the Annual Survey of Manufactures and the Census of Manufactures. Methodology. The data we receive from utilities and cogenerators are edited for anomalies and aggregated, using self weights, to the 3-digit SIC industry levels and above. Where reports are late or unavailable for some reason, responses are estimated. Seasonal Adjustment. Series are seasonal adjusted at the 3-digit SIC level, with seasonally-adjusted aggregates typically computed as sums of seasonally adjusted components. The seasonal adjustment procedure (Census X-12 program) is used without trading-day adjustments because the reporting periods of the various utilities are not the same. A leap year adjustment is also made where appropriate. References and Release Dates References. The annual revision published in early December 2000 was described in an article published in the March 2001 Federal Reserve Bulletin. The annual revision published late 1999 is described more completely in the Federal Reserve Bulletin, vol.86 (March 2000). 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/capital_stock_doc-latest.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, and March 2000). Release Schedule At 9:15 a.m. on 2001: January 17, February 16, March 16, April 17, May 14, June 15, July 17, August 15, September 14, October 16, November 16, and December 14. 2002: January 16, February 15, March 15, April 16, May 15, June 14, July 16, August 15, September 17, October 17, November 15, and December 17.