Industrial Production and Capacity Utilization - G.17
Revision of Industrial Production and Capacity Utilization
The Federal Reserve Board issued its annual revision to the index of industrial production (IP) and the related measures of capacity utilization on March 31, 2017 (https://www.federalreserve.gov/releases/g17/revisions/Current/DefaultRev.htm). New annual benchmark data for 2015 for manufacturing were incorporated, as well as other annual data, including information on the mining of metallic and nonmetallic minerals (except fuels). The updated IP indexes included 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 were changed. Modifications to the methods for estimating the output of an industry affected the index from 1972 to the present.
Capacity and capacity utilization were revised to incorporate data through the fourth quarter of 2016 from the U.S. Census Bureau's Quarterly Survey of Plant Capacity along with new data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations.