Industrial Production and Capacity Utilization - G.17

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Release Date: May 15, 2026
Revision of Industrial Production and Capacity Utilization Notice Below

Industrial production increased 0.7 percent in April after decreasing 0.3 percent in March. In April, manufacturing output rose 0.6 percent, the index for mining ticked down 0.1 percent, and utilities output moved up 1.9 percent. Manufacturing output excluding motor vehicles and parts increased 0.3 percent. At 102.5 percent of its 2017 average, total industrial production in April was 1.4 percent above its year-earlier level. Capacity utilization moved up to 76.1 percent, a rate that is 3.3 percentage points below its long-run (1972–2025) average.

Industrial Production and Capacity Utilization: Summary
Seasonally adjusted
Industrial production 2017=100 Percent change
2025 2026 2025 2026 Apr. '25 to
Apr. '26
Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[r] Apr.[p] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[r] Apr.[p]
       
Total index 101.0 101.5 101.5 102.1 101.8 102.5 -.2 .5 .0 .6 -.3 .7 1.4
Previous estimates 101.1 101.6 101.6 102.3 101.8   -.1 .5 .0 .7 -.5    
       
Major market groups
Final Products 96.8 97.8 97.3 98.2 97.6 98.7 -.6 1.1 -.5 .9 -.6 1.1 1.4
Consumer goods 96.8 98.0 96.9 97.9 97.1 98.0 -.8 1.2 -1.0 1.0 -.8 .9 -.2
Business equipment 94.1 94.9 95.8 96.3 96.2 97.6 .0 .8 1.0 .5 -.1 1.5 6.0
Nonindustrial supplies 97.9 98.0 98.7 98.7 99.2 99.4 .2 .1 .7 .0 .5 .2 1.5
Construction 99.2 98.7 99.9 99.7 100.6 100.6 .1 -.5 1.2 -.3 .9 .0 1.2
Materials 106.1 106.2 106.3 107.0 106.6 107.1 .0 .1 .1 .6 -.4 .5 1.2
       
Major industry groups
Manufacturing (see note below) 96.5 96.3 96.9 97.3 97.3 97.9 -.1 -.1 .5 .4 .1 .6 1.3
Previous estimates 96.5 96.5 97.1 97.4 97.3   .0 -.1 .6 .4 -.1    
Mining 121.1 119.6 119.6 122.3 120.4 120.3 .8 -1.2 .0 2.3 -1.6 -.1 .2
Utilities 108.4 114.8 110.8 111.2 109.7 111.8 -1.4 6.0 -3.5 .4 -1.4 1.9 2.7

Capacity utilization Percent of capacity Capacity
growth
Average
1972-
2025 		1988-
89
high 		1990-
91
low 		1994-
95
high 		 
2009
low 		 
2025
Apr. 		   
2025 2026 Apr. '25 to
Apr. '26
Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[r] Apr.[p]
       
Total industry 79.4 85.2 78.8 85.0 66.5 76.1 75.4 75.7 75.6 76.0 75.7 76.1 1.3
Previous estimates             75.4 75.7 75.7 76.1 75.7    
       
Manufacturing (see note below) 78.2 85.5 77.2 84.6 63.4 75.6 75.0 74.8 75.1 75.4 75.4 75.8 1.1
Previous estimates             75.0 74.9 75.3 75.5 75.3    
Mining 85.2 86.3 84.4 88.6 78.3 84.0 85.1 84.1 84.1 86.0 84.7 84.6 -.5
Utilities 84.0 93.2 84.7 93.2 78.1 71.9 69.8 73.8 71.0 71.1 70.0 71.1 3.9
       
Stage-of-process groups
Crude 84.5 87.9 84.9 90.0 76.5 82.7 83.0 82.2 82.5 83.9 83.3 82.7 -.4
Primary and semifinished 80.1 86.4 77.9 87.7 63.5 76.0 75.2 75.9 75.5 75.8 75.6 76.3 1.7
Finished 76.6 83.3 77.4 80.7 66.3 73.7 72.7 72.8 73.0 73.2 72.9 73.5 1.5
[r] Revised. [p] Preliminary.

Market Groups

The major market groups posted mostly positive results in April. The production of consumer goods moved up 0.9 percent, with gains in both durable and nondurable consumer goods. The index for business equipment jumped 1.5 percent, boosted by a gain of 4.2 percent in transit equipment. The output of defense and space equipment rose 1.9 percent, the output of construction supplies was little changed, and the output of business supplies increased 0.3 percent. The index for materials moved up 0.5 percent, led by increases in the output of durable materials and energy materials, while the output of non-energy nondurable materials declined.

Industry Groups

Manufacturing output rose 0.6 percent in April after edging up 0.1 percent in March. The production of durables increased 1.2 percent in April, with gains in most categories. The largest increase was in the output of motor vehicles and parts, which jumped 3.7 percent. Nondurable manufacturing production edged down 0.1 percent, as declines in several categories—notably the indexes for chemicals and for plastics and rubber products, which both decreased 0.9 percent—were mostly offset by increases in the indexes for food, beverage, and tobacco products, for printing and support, and for petroleum and coal products.

Mining output edged down 0.1 percent in April after falling 1.6 percent in March. The output of utilities increased 1.9 percent in April, with gains in both electric and natural gas utilities.

Capacity utilization for manufacturing moved up 0.4 percentage point to 75.8 percent in April and is now 2.4 percentage points below its long-run (1972–2025) average. The operating rate for mining edged down 0.1 percentage point to 84.6 percent, and the operating rate for utilities increased 1.1 percentage points to 71.1 percent. The utilization rates for mining and for utilities were 0.6 percentage point and 12.9 percentage points below their long-run averages, respectively.

Revision of Industrial Production and Capacity Utilization

The Federal Reserve Board plans to issue its annual revision to the indexes of industrial production (IP) and the related measures of capacity utilization in the autumn of 2026. The base year for the revised indexes will be 2022. New annual benchmark data for manufacturing from the Census Bureau for 2023 will be incorporated, as well as other annual data, including information on the mining of metallic and nonmetallic minerals (except fuels). The updated IP indexes will include revisions to the monthly indicator (either product data or input data) and to seasonal factors for each industry. In addition, the estimation methods for some series may be changed. Any modifications to the methods for estimating the output of an industry will affect the index from 1972 to the present.

Capacity and capacity utilization will be revised to incorporate data for manufacturing through the fourth quarter of 2025 from the U.S. Census Bureau's Quarterly Survey of Plant Capacity Utilization, along with new data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations.

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 (except exclusive Internet publishing). 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 of its industrial output data from the SIC system to NAICS.

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Last Update: May 15, 2026