Board of Governors of the Federal Reserve System

Seasonally adjusted

Sector	Annualized Change		2017=100						Percent change
	2025		2025					2026 Jan.	2025					2026 Jan.
	Q3	Q4	Aug.	Sept.	Oct.	Nov.	Dec.		Aug.	Sept.	Oct.	Nov.	Dec.
Total index
85th percentile	2.27	-.51	101.62	101.76	101.36	101.56	101.94	102.72	-.26	.13	-.34	.27	.54	1.01
Current estimate	2.20	-1.25	101.62	101.71	101.26	101.38	101.63	102.34	-.26	.08	-.44	.12	.25	.70
15th percentile	2.13	-1.98	101.62	101.65	101.14	101.20	101.31	101.92	-.26	.02	-.54	.00	.00	.32
Manufacturing (SIC)
85th percentile	2.79	-1.61	97.33	97.43	96.73	97.09	97.10	97.80	.02	.11	-.69	.41	.16	.88
Current estimate	2.71	-2.22	97.33	97.38	96.61	96.89	96.87	97.45	.02	.05	-.78	.29	-.02	.60
15th percentile	2.63	-3.02	97.33	97.32	96.48	96.68	96.58	96.94	.02	-.01	-.89	.15	-.22	.25
Mining
85th percentile	3.72	-1.36	122.39	121.52	120.60	121.87	121.58	121.63	.91	-.71	-.64	1.30	.07	.77
Current estimate	3.58	-3.44	122.39	121.39	120.28	121.32	120.28	120.09	.91	-.81	-.92	.87	-.86	-.16
15th percentile	3.37	-5.38	122.39	121.20	119.90	120.80	119.04	118.38	.91	-.97	-1.20	.54	-1.60	-1.15
Electric and gas utilities
85th percentile	-2.22	10.38	106.44	107.70	110.08	108.78	113.32	115.69	-3.14	1.18	2.23	-1.12	4.74	3.98
Current estimate	-2.24	7.19	106.44	107.69	110.02	108.22	111.46	113.79	-3.14	1.17	2.17	-1.63	2.99	2.09
15th percentile	-2.26	5.25	106.44	107.67	109.95	108.06	110.18	112.48	-3.14	1.15	2.09	-1.84	1.47	.32

Note. The reliability measures show the likely range of values for the IP indexes after their fifth and final monthly revision. The 15th (85th) percentile estimate is equal to the current estimate plus an amount such that the equivalent measure revised by a lower (higher) amount for only 15 percent of the months since 2008, excluding April through November 2025. More information is available at www.federalreserve.gov/releases/g17/g17_technical_qa.htm#reliability and www.federalreserve.gov/releases/g17/g17_technical_qa.htm#reliability202512.