Board of Governors of the Federal Reserve System

Seasonally adjusted                                                                                                                                        

Year	Jan.	Feb.	Mar.	Apr.	May	June	July	Aug.	Sept.	Oct.	Nov.	Dec.	Q1	Q2	Q3	Q4	Annual
IP (percent change) [1]
2004	.2	.6	-.4	.4	.7	-.8	.7	.1	.1	.9	.2	.8	2.7	2.1	2.2	5.7	2.6
2005	.4	.7	-.1	.2	.1	.4	-.3	.3	-1.9	1.2	1.1	.5	5.8	2.3	-1.7	3.8	3.4
2006	.2	.0	.2	.3	.0	.3	-.1	.4	-.2	-.1	.0	1.0	4.0	2.4	1.6	.9	2.3
2007	-.3	.9	.2	.7	.1	.1	-.1	.2	.2	-.3	.5	.0	4.1	4.8	.6	1.2	2.6
2008	-.1	-.4	-.3	-.6	-.6	-.2	-.4	-1.6	-4.4	1.0	-1.3	-2.8	-1.2	-5.7	-12.2	-16.1	-3.4
2009	-2.5	-.6	-1.6	-.8	-1.0	-.4	1.1	1.1	.9	.3	.4	.4	-20.8	-10.9	6.4	6.8	-11.4
2010	1.1	.4	.7	.3	1.4	.2	.4	.4	.3	-.3	.1	1.0	8.2	7.8	5.3	1.7	5.6
2011	-.2	-.4	1.0	-.3	.1	.3	.5	.7	-.1	.7	.0	.5	2.2	1.7	4.7	4.2	3.2
2012	.6	.3	-.5	.7	.2	.0	.2	-.4	-.1	.3	.4	.2	4.0	2.6	-.1	1.9	3.1
2013	.0	.5	.4	-.1	.1	.2	-.3	.6	.5	-.1	.2	.2	3.0	1.8	1.6	2.7	2.0
2014	-.4	.8	1.0	.1	.4	.3	.2	-.2	.3	.0	.6	.0	2.8	5.6	2.2	2.2	3.0
2015	-.8	-.6	-.3	-.5	-.4	-.3	.6	-.2	-.3	-.5	-.7	-.5	-4.4	-5.4	.3	-5.4	-1.4
2016	.5	-.5	-.7	.3	-.2	.5	.1	-.2	-.1	.0	-.4	.7	-2.6	-1.3	.9	-.6	-2.2
2017	-.3	-.4	.7	1.0	.1	.2	-.2	-.4	.1	1.2	.2	.2	.0	6.0	-1.2	5.7	1.2
2018	.0	.2	.5	1.1	-.9	.8	.2	.6	.1	-.1	.1	.0	2.2	4.7	3.4	.8	3.2
2019	-.7	-.5	.0	-.6	.1	.0	-.5	.7	-.3	-.8	.5	-.2	-3.8	-2.6	-.3	-2.3	-.8
2020	-.7	.3	-3.9	-13.2	1.7	6.6	3.7	1.0	.0	.8	.4	1.3	-6.7	-41.6	43.6	7.5	-7.1
2021	.5	-3.3	2.9	.2	.9	.4	.5	-.2	-1.2	1.3	.7	-.3	1.0	6.9	1.8	3.3	4.4
2022	-.4	.6	.6	.0	-.1	-.3	.2	-.1	.2	.0	-.3	-1.2	1.0	1.9	-.2	-2.1	1.7
2023	.7	.1	.4	.2	-.3	-.8	.8	-.1	.2	-.5	.4	-.3	.3	.2	.6	-1.1	-.2
2024	-1.4	1.1	.2	-.2	.6	.0	-.9	.5	-.6	-.3	-.2	1.0	-2.6	2.7	-2.3	-1.5	-.7
2025	-.3	1.0	-.1	.1	-.2	.5	.4	-.3	.1	-.4	.1	.2	4.2	1.8	2.2	-1.3	1.1
2026	.7
IP (2017=100)
2024	99.2	100.3	100.5	100.2	100.9	100.9	100.0	100.4	99.8	99.5	99.3	100.3	100.0	100.7	100.1	99.7	100.1
2025	100.1	101.1	101.0	101.1	101.0	101.5	101.9	101.6	101.7	101.3	101.4	101.6	100.7	101.2	101.7	101.4	101.2
2026	102.3
Capacity (percent of 2017 output)
2024	131.0	131.1	131.2	131.2	131.3	131.4	131.6	131.7	131.8	131.9	132.1	132.2	131.1	131.3	131.7	132.1	131.5
2025	132.4	132.6	132.7	132.9	133.0	133.2	133.4	133.5	133.7	133.9	134.0	134.2	132.6	133.0	133.5	134.0	133.3
2026	134.3
Utilization (percent)
2004	77.3	77.8	77.5	77.8	78.4	77.8	78.4	78.4	78.5	79.2	79.3	79.9	77.5	78.0	78.4	79.5	78.3
2005	80.1	80.7	80.5	80.5	80.5	80.8	80.4	80.5	78.8	79.7	80.4	80.7	80.4	80.6	79.9	80.3	80.3
2006	80.7	80.6	80.7	80.8	80.7	80.8	80.6	80.8	80.4	80.2	80.0	80.6	80.7	80.7	80.6	80.2	80.6
2007	80.1	80.7	80.7	81.1	81.0	80.9	80.7	80.8	80.9	80.7	81.1	81.1	80.5	81.0	80.8	81.0	80.8
2008	81.1	80.8	80.5	80.0	79.6	79.4	79.0	77.7	74.2	74.9	73.8	71.6	80.8	79.7	77.0	73.4	77.7
2009	69.7	69.2	68.1	67.5	66.8	66.5	67.3	68.1	68.8	69.0	69.4	69.9	69.0	66.9	68.0	69.4	68.4
2010	70.8	71.2	71.8	72.2	73.3	73.6	74.0	74.4	74.7	74.6	74.7	75.5	71.2	73.0	74.4	74.9	73.4
2011	75.4	75.1	75.9	75.6	75.7	75.8	76.1	76.6	76.4	76.8	76.7	76.9	75.4	75.7	76.4	76.8	76.1
2012	77.3	77.4	76.8	77.2	77.3	77.1	77.1	76.7	76.5	76.6	76.8	76.8	77.2	77.2	76.8	76.7	77.0
2013	76.8	77.0	77.2	77.1	77.0	77.1	76.8	77.2	77.5	77.4	77.5	77.6	77.0	77.1	77.2	77.5	77.2
2014	77.3	77.8	78.5	78.5	78.7	78.9	79.0	78.8	78.9	78.9	79.3	79.2	77.8	78.7	78.9	79.1	78.6
2015	78.6	78.1	77.8	77.3	77.0	76.8	77.3	77.2	77.0	76.6	76.1	75.7	78.1	77.0	77.1	76.1	77.1
2016	76.1	75.7	75.2	75.4	75.2	75.5	75.6	75.4	75.3	75.3	74.9	75.4	75.7	75.4	75.4	75.2	75.4
2017	75.2	74.9	75.4	76.2	76.4	76.6	76.5	76.2	76.4	77.4	77.6	77.9	75.2	76.4	76.3	77.6	76.4
2018	77.9	78.2	78.6	79.5	78.8	79.4	79.5	79.9	79.9	79.8	79.8	79.7	78.2	79.2	79.8	79.8	79.2
2019	79.1	78.6	78.5	78.0	78.0	77.9	77.5	77.9	77.6	76.9	77.3	77.0	78.7	78.0	77.7	77.1	77.9
2020	76.5	76.8	73.8	64.1	65.2	69.5	72.2	73.0	73.1	73.9	74.3	75.4	75.7	66.3	72.8	74.5	72.3
2021	75.9	73.6	75.8	76.1	76.9	77.3	77.8	77.7	76.9	78.0	78.6	78.4	75.1	76.8	77.5	78.3	76.9
2022	78.1	78.6	79.0	79.0	78.9	78.6	78.7	78.5	78.6	78.5	78.2	77.1	78.6	78.9	78.6	77.9	78.5
2023	77.6	77.6	77.8	77.9	77.5	76.8	77.4	77.3	77.3	76.9	77.1	76.9	77.7	77.4	77.3	76.9	77.3
2024	75.8	76.5	76.6	76.4	76.8	76.8	76.0	76.3	75.7	75.4	75.2	75.9	76.3	76.6	76.0	75.5	76.1
2025	75.6	76.3	76.1	76.1	75.9	76.2	76.4	76.1	76.1	75.6	75.6	75.7	76.0	76.1	76.2	75.7	76.0
2026	76.2

[1] Quarterly percentage changes are at annual rates. Annual percentage changes are calculated from annual averages.