Industrial Production and Capacity Utilization - G.17

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Release Date: October 17, 2023

Industrial production increased 0.3 percent in September and advanced at an annual rate of 2.5 percent in the third quarter. Manufacturing output rose 0.4 percent in September, the index for mining moved up 0.4 percent, and the index for utilities decreased 0.3 percent. At 103.6 percent of its 2017 average, total industrial production in September was 0.1 percent above its year-earlier level. Capacity utilization moved up 0.2 percentage point to 79.7 percent in September, a rate that is equal to its long-run (1972–2022) average.

Industrial Production and Capacity Utilization: Summary
Seasonally adjusted
Industrial production 2017=100 Percent change
2023 2023 Sept. '22 to
Sept. '23
Apr.[r] May[r] June[r] July[r] Aug.[r] Sept.[p] Apr.[r] May[r] June[r] July[r] Aug.[r] Sept.[p]
       
Total index 103.2 102.8 102.3 103.3 103.3 103.6 .5 -.3 -.5 1.0 .0 .3 .1
Previous estimates 103.1 102.8 102.4 103.1 103.5   .5 -.3 -.4 .7 .4    
       
Major market groups
Final Products 102.5 101.9 100.9 102.0 102.0 102.1 1.2 -.5 -1.1 1.2 .0 .1 -.1
Consumer goods 103.7 103.0 101.4 102.7 102.6 102.8 1.2 -.7 -1.5 1.3 -.1 .3 .1
Business equipment 96.6 96.3 96.2 97.0 97.2 96.5 1.3 -.4 -.1 .9 .1 -.7 -1.7
Nonindustrial supplies 100.2 100.0 99.8 100.1 100.3 100.7 -.4 -.2 -.2 .3 .1 .4 -1.7
Construction 101.8 101.7 101.3 101.3 100.8 101.8 .8 -.1 -.5 .0 -.5 1.0 -2.0
Materials 104.7 104.6 104.4 105.5 105.5 105.9 .2 -.1 -.2 1.0 .0 .4 .9
       
Major industry groups
Manufacturing (see note below) 99.9 99.7 99.1 99.5 99.4 99.8 .9 -.2 -.6 .4 -.1 .4 -.8
Previous estimates 99.9 99.7 99.2 99.6 99.7   .8 -.2 -.4 .4 .1    
Mining 118.7 118.4 119.1 120.4 120.6 121.2 .6 -.3 .6 1.1 .2 .4 3.4
Utilities 104.3 103.6 101.9 106.6 107.4 107.0 -2.3 -.6 -1.7 4.7 .7 -.3 2.0

Capacity utilization Percent of capacity Capacity
growth
Average
1972-
2022 		1988-
89
high 		1990-
91
low 		1994-
95
high 		 
2009
low 		 
2022
Sept. 		   
2023 Sept. '22 to
Sept. '23
Apr.[r] May[r] June[r] July[r] Aug.[r] Sept.[p]
       
Total industry 79.7 85.2 78.8 85.0 66.6 80.8 79.8 79.5 78.9 79.6 79.5 79.7 1.5
Previous estimates             79.8 79.4 79.0 79.5 79.7    
       
Manufacturing (see note below) 78.2 85.6 77.3 84.6 63.4 79.5 78.4 78.1 77.6 77.8 77.7 77.8 1.3
Previous estimates             78.4 78.1 77.7 77.9 77.9    
Mining 86.4 86.3 84.3 88.6 78.9 92.1 92.8 92.6 93.2 94.4 94.6 95.1 .1
Utilities 84.7 93.2 84.7 93.2 78.1 73.7 71.8 71.2 69.8 72.8 73.1 72.7 3.5
       
Stage-of-process groups
Crude 85.6 87.9 84.8 90.0 76.9 90.2 90.3 89.8 90.3 91.3 91.6 91.8 .0
Primary and semifinished 80.2 86.5 78.0 87.8 63.6 79.0 77.1 76.9 76.3 77.1 77.0 77.2 1.5
Finished 76.7 83.4 77.5 80.7 66.3 77.9 77.6 77.2 76.3 76.8 76.6 76.6 2.1
[r] Revised. [p] Preliminary.

Market Groups

Most major market groups recorded gains in September. The index for consumer durables rose 1.2 percent amid widespread increases in its components. On the other hand, the index for consumer nondurable goods was unchanged, as a gain in chemical products was offset by a decline in energy nondurable goods. The production of business equipment fell 0.7 percent, while the index for defense and space equipment recorded its fifth consecutive monthly gain of at least 1 percent. Within materials, the index for non-energy durables rose 0.8 percent, and the index for non-energy nondurables increased 0.5 percent.

Industry Groups

Manufacturing output rose 0.4 percent in September but was 0.8 percent below its year-earlier level. In the third quarter, factory output moved sideways, as a gain of 2.3 percent (annual rate) in the index for durable manufacturing was offset by a decline of 2.4 percent (annual rate) in the index for nondurable manufacturing.

In September, the index for motor vehicles and parts moved up only 0.3 percent, as motor vehicle assemblies were held down by the ongoing strike against three automakers. Elsewhere in manufacturing, gains of 1 percent or more were recorded by wood products, primary metals, and plastics and rubber products, and declines of 1 percent or more were recorded by apparel and leather as well as printing and support. Other manufacturing (publishing and logging) edged down 0.2 percent but posted a gain of 4.8 percent for the third quarter as a whole.

Mining output moved up 0.4 percent in September for a fourth consecutive monthly gain. For the third quarter, the output of mines advanced at an annual rate of 6.9 percent. The index for utilities dropped 0.3 percent in September but saw a third-quarter gain of 15.2 percent (annual rate).

Capacity utilization for manufacturing edged up 0.1 percentage point to 77.8 percent in September, a rate that is 0.4 percentage point below its long-run (1972–2022) average. The operating rate for mining increased 0.5 percentage point to 95.1 percent, a rate that is 8.7 percentage points above its long-run average. The operating rate for utilities decreased 0.4 percentage point to 72.7 percent, well below its long-run average.

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.

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Last Update: October 17, 2023