REVISION OF INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
On November 7, 2005, the Federal Reserve Board issued its annual revisions to the index of
industrial production (IP) and to the related measures of capacity and capacity utilization. The base year
for the indexes of industrial production, capacity, and electric power use was advanced to 2002.
Production indexes for twenty industries that had relied on electric power use as a monthly indicator were
revised to use productionworker hours for the period 1997 to present.
The revisions to the IP index were derived principally from information contained in annual reports
issued by the Census Bureau--namely, the 2003 Annual Survey of Manufactures, the revised data from the 2002
Census of Manufactures, and selected 2004 Current Industrial Reports. Annual data on minerals (except
fuels) for 2003 and 2004 from the U.S. Geological Survey and updated deflators from the Bureau of Economic
Analysis were also introduced. The updating also included revisions to the monthly indicator for each
industry (either physical product data or production-worker hours) and revisions to seasonal factors.
Capacity and capacity utilization were revised to incorporate data from the Census Bureau’s 2004
Survey of Plant Capacity, which covers manufacturing, and new data on capacity from the U.S. Geological
Survey, the U.S. Department of Energy, and other organizations.
The revision is available on the Board’s website at www.federalreserve.gov/releases/G17. The
revised data are also available on the website of the Department of Commerce. Further information on these
revisions is available from the Board’s Industrial Output Section (telephone 202-452-3197).
Release dates | Historical data |
Current Monthly Release
Other formats: ASCII |PDF (144 KB)
Supplemental Monthly Release Other formats: ASCII | PDF (144 KB)
Annual Revision Release Other formats: ASCII | PDF (150 KB)