Industrial Production and Capacity Utilization - G.17
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Industrial production decreased 0.1 percent in October, and its gain in September was revised down to 0.1 percent. Manufacturing output edged up 0.1 percent in October, and its increases in July, August, and September were all lower than previously reported. In October, the index for mining stepped down 0.4 percent, and the index for utilities fell 1.5 percent. At 104.7 percent of its 2017 average, total industrial production in October was 3.3 percent above its year-earlier reading. Capacity utilization decreased 0.2 percentage point in October to 79.9 percent, a rate that is 0.3 percentage point above its long-run (1972–2021) average.
Industrial Production and Capacity Utilization: Summary
|Industrial production||2017=100||Percent change|
|2022||2022|| Oct. '21 to
|Major market groups|
|Major industry groups|
|Manufacturing (see note below)||101.9||101.3||101.8||101.9||102.1||102.3||-.5||-.6||.5||.1||.2||.1||2.4|
|Capacity utilization||Percent of capacity|| Capacity
|2022|| Oct. '21 to
|Manufacturing (see note below)||78.2||85.6||77.3||84.7||63.4||78.3||79.6||79.0||79.3||79.3||79.5||79.5||.9|
|Primary and semifinished||80.1||86.5||78.0||87.8||63.5||77.4||79.1||78.4||78.8||78.3||78.2||77.7||1.0|
The major market groups recorded mixed results in October. Gains were registered by consumer goods, business equipment, and defense and space equipment, while losses were posted by construction supplies and materials. The index for business supplies was unchanged. Within consumer goods, the largest increases were in automotive products and in appliances, furniture, and carpeting products; the rise in business equipment was broad based. The cutback in materials resulted from widespread decreases among nondurable materials and from a drop in energy materials concentrated in oil and natural gas extraction and in electricity generation; the output of durable materials moved up modestly.
Manufacturing output moved up 0.1 percent in October and was 2.4 percent above its year-earlier level. The index for durable manufacturing rose 0.5 percent, the index for nondurable manufacturing fell 0.3 percent, and the index for other manufacturing (publishing and logging) was unchanged. Within durables, increases of at least 1.5 percent were recorded by electrical equipment, appliances, and components; aerospace and miscellaneous transportation equipment; and motor vehicles and parts. Within nondurables, gains for printing and support, plastics and rubber products, and apparel and leather products were outweighed by losses elsewhere, especially for petroleum and coal products, textile and product mills, and paper.
Mining output declined 0.4 percent in October: A drop in oil and gas extraction outweighed improvements in oil and gas well drilling and in coal mining. The output for utilities fell 1.5 percent, as a decrease for electric utilities more than offset an increase for natural gas utilities.
Capacity utilization for manufacturing was unchanged in October at 79.5 percent, a rate that is 1.3 percentage points above its long-run average. The operating rate for mining fell 0.5 percentage point to 88.4 percent, while the operating rate for utilities declined 1.2 percentage points to 72.1 percent. Capacity utilization for mining was 2.1 percentage points above its long-run average, but the rate for utilities remained substantially below its long-run average of 84.7 percent.Note. The statistics in this release cover output, capacity, and capacity utilization in the U.S. industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the North American Industry Classification System (NAICS); electric and gas utilities are those in NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33) plus the logging industry and the newspaper, periodical, book, and directory publishing industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and information respectively), but historically they were considered to be manufacturing and were included in the industrial sector under the Standard Industrial Classification (SIC) system. In December 2002 the Federal Reserve reclassified all its industrial output data from the SIC system to NAICS.
G.17 Release Tables:
- Summary: Industrial Production and Capacity Utilization
- Chart 1: Industrial Production, Capacity, and Capacity Utilization
- Chart 2: Industrial Production and Capacity Utilization
- Chart 3: Industrial Production of Selected Industries
- Table 1: Industrial Production: Market and Industry Groups (percent change)
- Table 2: Industrial Production: Special Aggregates and Selected Detail (percent change)
- Table 3: Motor Vehicle Assemblies
- Table 4: Industrial Production Indexes: Market and Industry Group Summary
- Table 5: Industrial Production Indexes: Special Aggregates
- Table 6: Diffusion Indexes of Industrial Production
- Table 7: Capacity Utilization: Manufacturing, Mining, and Utilities
- Table 8: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change)
- Table 9: Industrial Production: Gross Value of Products and Nonindustrial Supplies
- Table 10: Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
- Table 11: Historical Statistics for IP, Capacity, and Utilization: Total Industry
- Table 12: Historical Statistics for IP, Capacity, and Utilization: Manufacturing
- Table 13: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries
- Table 14: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries
- Table 15: Industrial Production: Reliability Estimates