1 FEDERAL RESERVE STATISTICAL RELEASE
G.17 (419) For release at 10:00 a.m. (EST)
December 22, 2004
INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
Industrial Production and Capacity Utilization:
The 2004 Annual Revision
The Federal Reserve has revised the index of industrial production (IP) and the related
measures of capacity and capacity utilization for the period from January 1972 to November
2004. Overall, the changes to total industrial production are small. Measured from the fourth
quarter of 2002 to the third quarter of 2004, industrial output is now reported to have increased a
little less than shown previously. Production expanded more slowly in 2000 than indicated in
the earlier estimates, while the contraction in 2001 was a little less steep. The rise in output in
2002 was slightly stronger than reported earlier.
Although the level of IP was a bit lower in the third quarter of 2004 than previously
reported, the rate of industrial capacity utilization--the ratio of production to capacity--was
revised upward. At 78.2 percent, the utilization rate for total industry is 0.9 percentage point
higher than previously reported but still 2.9 percentage points below its 1972-2003 average. The
current figures place the operating rate in manufacturing for the fourth quarter of 2003 and the
third quarter of 2004 about 1/2 percentage point above their earlier estimates. Excluding
selected high-technology industries, capacity utilization in manufacturing in 2003 and 2004 was
little revised on balance. Capacity utilization rates at mines and utilities for the third quarter of
2004 are now about 2 percentage points higher than reported earlier.
The revision indicates that industrial capacity expanded at a slower rate in 2002 and 2004
than estimated previously. Capacity is now reported to have declined a bit in 2003; previously, a
small increase had been reported. The current figures for capacity in 2000 and 2001 indicate a
slightly stronger rate of increase than the earlier estimates.
The updated measures incorporate newly available and more comprehensive source data.
In addition, the revision introduced improved methods for compiling sixteen monthly production
series and one new capacity series. The annual source data are generally for 2002 and 2003, and
the modified methods affect indexes largely from 1972 forward.
The main data source introduced in this year's annual IP revision is the U.S. Census
Bureau's recently issued 2002 Census of Manufactures. Data introduced from other Census
Bureau publications include the 2002 Census of Services and the 2003 Services Annual Survey
(for publishing) and selected 2003 Current Industrial Reports. Additional government source
data include new annual data on minerals for 2002 and 2003 from the U.S. Geological Survey
(USGS) and updated deflators from the Bureau of Economic Analysis (BEA). In addition, the
new monthly production estimates reflect updated seasonal factors and the inclusion of monthly
source data that became available (or were revised) after the closing of the regular four-month
reporting window.
The capacity indexes and capacity utilization rates were calculated using the revised
production indexes; results from the Census Bureau's 2003 Survey of Plant Capacity (SPC) for
the fourth quarter of the year; and newly available data on industrial capacity from the USGS,
the Energy Information Agency of the Department of Energy, and other organizations.
Results of the Revision
Total industrial production for the third quarter of 2004 is currently reported to be 115.9
percent of output in 1997 (table 1A), and the capacity index now stands at 148.2 percent of
output in 1997 (table 1B); both indexes are lower than reported previously (chart 1). However,
because of the larger downward revision to capacity than to production, the utilization rate for
total industry in the third quarter of 2004 was higher than earlier reports suggested.
Tables 2 and 3 show the revised rates of change of industrial production for market
groups, industry groups, special aggregates, and selected detail for the years 2000 through 2004.
Tables 4, 5, and 6 show the revised figures for capacity utilization, capacity, and electric power
use. The tables also show the difference between the revised and earlier rates of change. For
capacity utilization, the tables show the difference between revised and previous rates for the
final quarter of the year (the third quarter was used for 2004). Tables 7, 8, and 9 report the
revised production, capacity, and utilization series for manufacturing, for total industry
excluding selected high-technology industries, and for manufacturing excluding selected
high-technology industries.
Industrial Production
The revision indicates that the overall path of industrial production is much the same as
stated earlier. The most significant feature of this revision, the incorporation of the 2002 Census
of Manufactures, had little effect on the top-line estimates.
Relative to earlier reports, the current estimates for manufacturing IP indicate a more
moderate upward trajectory for 2003 and 2004. Like the revisions to total industrial production,
the revisions to manufacturing output in earlier years were very small.
Across industry groups, the revision path indicates that the output of durable goods
manufacturers followed a generally lower trajectory in recent years than the previous estimates
suggested. Downward revisions to the indexes for the computer and electronic products
industry, the miscellaneous manufacturing industry, the fabricated metal products industry, the
machinery industry, and the wood products industry contributed to the downward revision in
2003 and 2004.
Overall, the index for nondurable manufacturing is little changed from the previous
estimates. In 2004, lower indexes for printing and support; chemicals; plastics and rubber
products; and apparel and leather outweighed upward revisions to the indexes for petroleum and
coal products; food, beverage, and tobacco products; textile and product mills; and paper.
The current revision indicates lower output in recent years for the industries that have
historically been defined as manufacturers (namely publishing and logging) but are classified
elsewhere under NAICS (North American Industry Classification System). In 2003 and 2004,
the rates of change are about 4 percentage points lower than previously published.
Regarding a few special aggregates (table 3), the output of selected high-technology
industries--computers and peripheral equipment, communications equipment, and
semiconductors and related components--is now lower in recent years than previously estimated.
Production is reported to have fallen somewhat more steeply in 2001 and to have risen somewhat
less in 2002, 2003, and 2004. Relative to earlier estimates, the output of computers is now
estimated to have increased much more slowly in 2002 and 2004 and more quickly in 2003. The
index for communications equipment is currently reported to have declined at a faster pace in
2002 than was reported earlier; the rebound in 2003 is now shown to be markedly stronger. The
expansion of semiconductor output is now estimated to have been much more moderate in 2003
and somewhat stronger in 2004 than earlier estimates suggested.
The current revision finds the overall swings in the output of motor vehicles and parts in
recent years to have been a little wider than in earlier reports. Relative to earlier estimates, the
index for motor vehicles and parts is now reported to have risen somewhat more in 2002 and
2003 and to have declined a bit more in 2000 and in 2004; industry output is now reported to
have declined less in 2001 than recorded earlier.
Production by Market Groups
Among major market groups, the production index for final products and nonindustrial
supplies is little changed from earlier estimates for recent years. The overall path of this index
shows a rise in 2000, a dropback in 2001, and then increasingly large gains in the subsequent
years. This revision places the output of consumer goods in recent years generally close to their
earlier estimates; the decline in output in 2001 is now estimated to be 0.7 percentage point less
than previously reported; a large upward revision to the index for home electronics is partly
responsible. The production of business equipment is now reported to be somewhat weaker in
the 2000-04 period, on balance, than in the earlier estimates. Production of defense and space
equipment is now reported to have risen a bit less in 2001 than earlier reports suggested, but the
overall contour of the index still shows solid gains since 2001. On balance since 2000, the index
for construction supplies is a little stronger than reported earlier. However, the index for
business supplies is weaker over the same time period. Because of downward revisions to the
production in both the energy and non-energy categories, the current revision indicates weaker
output of materials in recent years, particularly in 2003 and 2004, than was reported earlier.
Capacity
The general contour of manufacturing capacity shows a slightly more rapid acceleration
during the second half of the 1990s and a sharper deceleration since then. The revised capacity
indexes for durable goods industries are the principal contributors to the changes in the contour
of manufacturing capacity. The current estimates for nondurable manufactures over the same
time period are, on balance, little changed from earlier reports.
Among selected high-technology industries, the overall picture of rapidly expanding
capacity in the late 1990s followed by more-moderate increases still remains. However, the
revision suggests a slower path of expansion in the 2000-04 period than indicated previously.
Excluding high-technology industries, manufacturing capacity contracted slightly in 2002 and
2003; the estimate for 2004 was revised little.
Capacity at mines is now estimated to have decreased in four of the past five years and
has declined, on balance, more than previously estimated. In contrast, capacity at electric and
gas utilities accelerated sharply from 2000 to 2003, although the current measures show, on
balance, a slower rate of expansion than previous estimates. For 2004, the increase in capacity at
utilities moderated a bit from the pace seen over the preceding four years.
The revisions to the capacity estimates for stage-of-process groups occurred across all
groups but were most pronounced in the category for primary and semifinished goods. For 2002
through 2004, the current capacity measures reflect lower rates of change than previously
reported for each stage-of-process group.
Capacity Utilization
The revised rates of capacity utilization are somewhat higher than the previous estimates
for recent years, owing mainly to the downward revision to capacity. For the fourth quarter of
2003 and the third quarter of 2004, the revised utilization rates for total industry are about 1
percentage point higher than earlier estimates. About one-half of this increase is accounted for
by revisions to the factory operating rate, which is now estimated to be 77.0 percent in the third
quarter of 2004. Higher utilization rates for selected high-technology industries in 2004
contributed heavily to the upward revision in manufacturing. The factory operating rate remains
about 3 percentage points below its 1972-2003 average even though it rose 4.4 percentage points
between its trough in the final quarter of 2001 and the third quarter of 2004.
Within manufacturing, the current estimates for durable and nondurable manufacturers in
2003 and 2004 are higher than stated previously. Over the same period, the utilization rates for
other (non-NAICS) manufacturers are lower, particularly in 2004, than earlier estimates
suggested.
The operating rate among the selected high-technology industries was 69.9 percent in the
third quarter of 2004--1.8 percentage points above the previously reported pace and 11.6
percentage points above its trough in the second quarter of 2002. On balance for recent years,
the current revision places utilization in the semiconductor industry at a higher rate than reported
earlier but indicates a lower rate for communications equipment. On balance, operating rates in
the computer industry are not much changed.
For recent years, the current revision places the utilization rates for mines and for gas and
electric utilities at higher levels than reported earlier. The upward revisions to the utilization
rates for utilities reflect downward revisions to the capacity estimates for electricity generation.
For the third quarter of 2004, the utilization rate at mines was 86.3 percent, and the utilization
rate at gas and electric utilities was 84.0 percent. Both measures are below their 1972-2003
averages.
Technical Aspects of the Revision
The revision incorporates updated comprehensive annual data and revised monthly
source data used in the estimation of production, capacity, and utilization. As noted earlier, this
revision includes information drawn from the recently released 2002 Census of Manufactures.
Additionally, this revision incorporates the 2003 Survey of Plant Capacity, other annual industry
reports, recent information on prices, and revised monthly source data on physical products and
on labor and electricity inputs. Along with the individual production series and seasonal factors,
the annual value-added weights used in aggregating the indexes to market and industry groups
were also updated.
Changes to Benchmark Indexes
The benchmark indexes for manufacturing--defined for each six-digit NAICS industry as
nominal gross output divided by a price index--were modified in this revision. The principal
change to the indexes was the inclusion of new information from the 2002 Census of
Manufactures and revisions to the estimates from the 2001 Annual Survey of Manufactures. In
addition, the benchmark indexes incorporated newly available price indexes on a NAICS basis
from the BEA. The new price data were not significantly different from the estimates that had
been used previously. The calculation of nominal gross output for benchmark index was also
revised for 1997 to the present. Previously, nominal gross output for an industry was defined to
equal cost of materials plus value added. The updated methodology subtracts from that figure
the cost of resold goods (those goods purchased by a manufacturer and then resold without any
material transformation).
Changes to Individual Production Series
With this revision, the monthly production indicators for some series have changed. The
source data for production indexes for the following eleven industries, which constituted 6.6
percent of IP in 2003, have been changed over their histories from electric power use to
production-worker hours.
(1) Other animal food (NAICS 311119)
(2) Soft drink and ice (31211)
(3) Wood container and pallet (32192)
(4) Paving, roofing, and other petroleum and coal products (32412,9)
(5) Pesticide and other agricultural chemicals (32532)
(6) Concrete and product (32732-9)
(7) Forging and stamping (3321)
(8) Coating, engraving, heat treating, and allied activities (3328)
(9) Motor vehicle metal stamping (33637)
(10) Household and institutional furniture and kitchen cabinet (3371)
(11) Medical equipment and supplies (3391)
The decision to switch the monthly indicators for these series, listed below, resulted from a
deterioration in the sample of utilities that report for these industries as well as a review of the
historical annual relationships between the output benchmarks and the two corresponding inputs
to production.
This revision also incorporates new physical product indicators for five industries.
(1) Aluminum foundries (NAICS 331521,4)
(2) Machine tools (333512,3)
(3) Engine manufacturing (333618)
(4) Mattress manufacturing (33791)
(5) Book publishing (51113)
Previously, these industries were combined with other industries in single IP indexes and then
estimated from production-worker hours. The additional series raise the total number of
individual output indexes that make up industrial production to 300.
Aluminum foundries (NAICS 331521,4) were formerly grouped with other nonferrous
foundries in a single IP index based on production-worker hours. For 1992 and forward, this
revision establishes separate indexes for aluminum foundries and for other nonferrous foundries.
The production indicator for the new index for aluminum foundries is a value-weighted
aggregate of quarterly shipments of dies, permanent molds, sand castings, and other castings, for
which the underlying data are obtained from the Aluminum Association. These data are
available from 1994 forward; the indexes for 1992 and 1993 are estimated based on hours.
Other nonferrous foundries (331522, 5, 8) is now a separate index based on production-worker
hours.
Machine tools (metal cutting and forming machinery, NAICS 333512,3) were formerly
grouped with other metalworking machinery in a single IP index based on production-worker
hours. For 1992 and forward, this revision introduces a new index for the machine tool industry
that is based on quarterly shipments data from the Census Bureau's Current Industrial Report on
Metalworking Machinery (MQ333W). This report covers a variety of machine tools, including
boring and drilling machines; gear-cutting machines; grinding and polishing machines; lathes;
milling machines; machining centers; punching, shearing, bending, and forming machines; and
presses. Both unit and revenue measures for shipments are used to construct a Fisher index of
real shipments. An estimate of the change in inventories is then added to the shipments index to
compute a production index. Manufacturers are assumed to want to hold inventories
proportional to their expected shipments. The estimate of inventory change is computed as the
sum of three components: a trend rate of stockbuilding; a portion of the adjustment to
inventories that a manufacturer would need to make in order to reach a desired inventory level;
and the impact on stocks of shipments not equaling expected shipments. Other metalworking
machinery (333511, 4, 5, 6, 8) is now a separate index based on production-worker hours.
Engines (NAICS 333618) were formerly grouped with power transmission equipment in
a single IP index based on production-worker hours. For 1992 and forward, engines and power
transmission equipment are separate indexes. The production indicator for the new index for
engines is monthly diesel engine assemblies from Stark Communications, Inc. The remainder
of the previous grouping--speed changers, drives, gears, and power transmission equipment
(NAICS 333612,3)--is now a separate index and is still based on production-worker hours.
Mattresses (NAICS 33791) were formerly grouped with blinds and shades (33792) in a
single IP index called "Other furniture related product," and estimates were based on
production-worker hours. Under the current revision, mattress production for 1987 and forward
is based on monthly unit sales data for mattresses and foundations from the International Sleep
Products Association. The blinds and shades index continues to be based on production-worker
hours.
Book publishing (NAICS 51113) was formerly grouped with other publishing operations
except newspapers (51112, 4, 9) in a single index called "Periodical, book and other publishers."
For 1987 and forward, book publishing is estimated separately from the other publishing
operations. A Fisher index of real sales is constructed from sixteen separate categories of books
and used as the indicator for the book publishing series. The underlying data, monthly gross
revenue for book sales from the Association of American Publishers, are deflated by detailed
producer price indexes from the Bureau of Labor Statistics. The new index for periodicals and
other publishers is based on production-worker hours.
The new physical-product-based production indexes constituted 1.4 percent of IP in
2003. The table below summarizes the type of data (measured as a percent of value added in
2003) available in each month of the four-month IP publication window.
Availability of Monthly IP Data in Publication Window
(Percent of value added in 2003)
Month of estimate
Type of data 1st 2nd 3rd 4th
Physical product 26.1 40.8 49.9 50.1
Production-worker hours 34.7 34.7 34.7 34.7
Electric power use 0.0 11.7 11.7 11.7
Received 60.8 87.2 96.4 96.6
Estimated 39.2 12.8 3.6 3.4
The first estimate of output for a month is preliminary and is subject to revision in each of the
subsequent three months as new source data become available. As the table indicates, by the
third revision (fourth month of estimate), the physical product content of IP is 50.1 percent.
The revision incorporates refined methods for a few series. The coverage was broadened
for some of the motor vehicles parts series to include more information for engines, brakes,
transmissions, and axles. This revision also includes new methods for the production indicator
for electronic computers; the new estimates incorporate a refined concordance between trade
data from the Census Bureau and the source data for computer sales.
LAN Equipment
The 2000 revision introduced a new IP series for the production of local area network
(LAN) equipment (routers, switches, and hubs). The series is not published in the monthly
statistical release, but it is included in the broader IP aggregate for communications equipment
and updated on an ongoing basis (see the March 2001 Bulletin article). The table below updates
the results for LAN equipment.
U.S. LAN Equipment, 1997 to 2003
Production Price Index Value of Production
Index (millions of dollars)
---------- ----------- ---------------------
Annual Estimates (indexes are 1997=100)
1997 100.0 100.0 12,935.4
1998 153.2 72.2 14,329.5
1999 223.0 59.1 17,138.9
2000 303.5 52.5 20,732.7
2001 357.9 41.2 19,205.4
2002 366.6 32.8 15,635.1
2003 412.5 25.4 13,549.1
Quarterly Estimates (indexes are 1997=100)
1997q1 77.7 108.0 10,767.2
1997q2 88.8 97.4 11,634.7
1997q3 109.2 97.5 13,824.5
1997q4 124.3 97.9 15,423.2
1998q1 136.7 80.2 14,120.6
1998q2 154.8 71.1 15,041.5
1998q3 160.7 67.6 14,009.2
1998q4 160.7 69.7 14,191.5
1999q1 212.4 61.6 16,984.3
1999q2 225.2 56.3 17,383.2
1999q3 224.4 59.8 17,086.5
1999q4 229.8 58.6 17,138.6
2000q1 262.8 54.4 18,692.5
2000q2 304.4 49.8 20,542.1
2000q3 322.9 53.5 21,751.7
2000q4 323.8 52.7 21,853.8
2001q1 391.3 43.1 22,253.4
2001q2 336.8 42.2 18,933.4
2001q3 340.3 41.6 17,741.7
2001q4 363.4 38.0 17,938.4
2002q1 353.9 34.5 16,381.3
2002q2 360.0 33.5 16,034.4
2002q3 382.2 33.1 15,683.9
2002q4 370.2 30.2 14,438.5
2003q1 374.3 26.5 13,514.5
2003q2 400.6 27.0 14,365.4
2003q3 434.5 26.2 13,993.9
2003q4 440.7 21.7 12,336.1
Changes to Individual Capacity Series
The revision to the capacity indexes employs updated information for the publishing
industry, for which there had been a gap in the collection of operating rates. Through 1998, the
Survey of Plant Capacity (SPC), which covers the manufacturing sector, was conducted under
the Standard Industrial Classification (SIC) system. The SIC system included the publishing
industry in the manufacturing sector. In 1999, the SPC began to be conducted under NAICS,
which excludes the publishing industry from the manufacturing sector. In 2002, the Census
Bureau recommenced collection of publishing industry data under the SPC. The release of the
2003 SPC provided the Federal Reserve Board with two consecutive data points for the
publishing industry and enabled the interpolation of industry information for the missing years
1999-2001.
The revisions to the capacity indexes also incorporate the Bureau of Economic Analysis's
capital flow table for 1997. This table provides a detailed breakdown of the asset composition of
industry investment. The Federal Reserve uses the capital flow table to estimate annual
asset-by-industry investment flows--which is the first step in constructing measures of industry
capital input. Before the current revision, the Federal Reserve used data for thirty-five asset
categories; this revision adds a thirty-sixth, software investment.
Finally, the capacity series for semiconductors was split into two components. One
covers microprocessor units (MPUs) and the other covers non-MPU semiconductors, such as
memory, logic, and integrated circuit chips.
Weights for Aggregation
The IP index is an annually weighted Fisher index. This revision uses information from
the Census of Manufactures to obtain updated estimates of the industry value-added weights
used in the aggregation of IP indexes and capacity utilization rates. The Federal Reserve derives
estimates of value added for the electric and gas utility industries from annual revenue and
expense data issued by other organizations. The weights for aggregation, expressed as unit value
added, were estimated using the latest data on producer prices. Table 10 shows the annual
value-added proportions incorporated in the IP index from 1996 through 2003.
Revised Monthly Data
This revision incorporates product data that become available after the regular
four-month reporting window for monthly IP has closed. One example is the data on wine and
tobacco issued by the Department of the Treasury's Alcohol and Tobacco Tax and Trade
Bureau. These data are released with too great a lag to be published with monthly IP estimates;
however, the data are available for inclusion in the annual revision.
Revised Seasonal Factors
Seasonal factors for all series were reestimated using data that extend into 2004.
Factors for production-worker hours, which adjust for timing, holiday, and monthly seasonal
patterns, were updated with data through September 2004 and were prorated to correspond with
the seasonal factors for hours aggregated to the three-digit NAICS level. Factors for the electric
power series were reestimated using data through June 2004. The updated factors for the
physical product series, which include adjustments for holiday and workday patterns, used data
through at least September 2004. Seasonal factors for unit motor vehicle assemblies have been
updated, and projections through June 2005 are on the Board's website at
www.federalreserve.gov/releases/g17/mvsf.htm.
1Table 1A
INDUSTRIAL PRODUCTION : Total
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <1>
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) | | |
1974 | -.7 -.3 .0 -.1 .6 -.1 .1 -.9 .1 -.4 -3.3 -3.5 | -3.8 .4 -1.7 -14.9 | -.4
1975 | -1.3 -2.4 -1.0 .0 -.1 .7 1.1 .9 1.3 .4 .3 1.3 | -23.9 -5.5 10.7 8.8 | -8.9
| | |
1976 | 1.4 .9 .0 .7 .4 .0 .6 .7 .2 .1 1.5 1.0 | 12.5 5.2 5.1 7.8 | 7.8
1977 | -.6 1.5 1.2 .9 .8 .7 .3 .1 .5 .3 .1 .1 | 8.4 12.5 5.1 3.2 | 7.7
1978 | -1.4 .5 1.9 1.9 .4 .7 .0 .4 .3 .8 .8 .6 | -1.5 16.3 3.6 7.7 | 5.5
1979 | -.7 .6 .3 -1.0 .7 .0 -.2 -.7 .1 .5 -.1 .2 | 1.8 -.5 -1.5 1.4 | 3.0
1980 | .4 .0 -.4 -2.0 -2.5 -1.3 -.6 .3 1.6 1.2 1.7 .6 | 1.5 -15.9 -6.2 15.9 | -2.6
| | |
1981 | -.5 -.5 .5 -.4 .7 .5 .7 .0 -.7 -.7 -1.1 -1.1 | .9 1.4 4.2 -8.6 | 1.3
1982 | -1.9 1.9 -.7 -.8 -.7 -.4 -.4 -.8 -.4 -.8 -.4 -.8 | -7.5 -5.0 -6.0 -7.6 | -5.1
1983 | 1.9 -.6 .9 1.2 .7 .6 1.6 1.1 1.6 .8 .3 .5 | 4.4 9.4 14.8 10.9 | 2.6
1984 | 2.1 .4 .5 .6 .5 .4 .3 .1 -.2 -.1 .4 .1 | 12.5 6.2 2.9 .5 | 9.0
1985 | -.3 .4 .1 -.2 .1 .0 -.7 .5 .4 -.4 .3 1.0 | 1.1 .5 -.7 2.6 | 1.3
| | |
1986 | .5 -.8 -.6 .0 .2 -.3 .6 -.2 .2 .4 .5 .9 | 2.4 -2.6 1.6 4.6 | 1.0
1987 | -.3 1.3 .1 .6 .7 .5 .6 .7 .2 1.5 .5 .5 | 5.5 7.0 7.0 9.8 | 5.1
1988 | .0 .4 .3 .5 -.1 .2 .2 .5 -.3 .6 .2 .4 | 3.4 3.3 2.1 3.2 | 5.0
1989 | .3 -.5 .3 -.1 -.7 .0 -.9 1.0 -.3 .0 .3 .7 | 1.5 -1.9 -2.5 2.0 | .9
1990 | -.6 .9 .5 .0 .1 .3 -.2 .3 .2 -.7 -1.2 -.7 | 2.6 2.9 1.3 -5.9 | .9
| | |
1991 | -.5 -.6 -.5 .2 1.0 1.0 .0 .1 .8 -.2 -.1 -.3 | -7.5 2.6 5.6 .9 | -1.5
1992 | -.6 .7 .8 .7 .5 .0 .8 -.4 .2 .7 .4 .0 | -.3 7.1 2.7 3.9 | 2.8
1993 | .5 .4 .0 .3 -.4 .2 .3 .1 .4 .7 .5 .5 | 3.7 1.1 2.2 6.3 | 3.3
1994 | .4 .0 1.0 .5 .6 .7 .2 .5 .2 .9 .6 1.1 | 5.2 7.5 5.2 8.1 | 5.4
1995 | .3 .0 .1 .0 .2 .3 -.4 1.4 .4 -.2 .2 .5 | 5.2 1.0 3.8 3.7 | 4.8
| | |
1996 | -.9 1.5 -.2 .9 .7 .9 -.1 .7 .6 .1 .9 .7 | 1.7 8.3 5.5 6.4 | 4.3
1997 | .3 1.2 .5 .2 .4 .5 .6 1.0 .9 .8 .6 .4 | 8.6 5.7 8.6 9.5 | 7.3
1998 | .5 .2 .2 .6 .5 -.4 -.2 1.9 -.3 .8 -.2 .2 | 4.6 4.3 3.4 4.5 | 5.8
1999 | .6 .4 .4 .2 .7 .0 .6 .6 -.3 1.2 .5 1.0 | 4.4 4.3 4.7 7.4 | 4.5
2000 | -.1 .4 .6 .7 .6 .0 -.5 -.3 .4 -.5 -.1 -.2 | 4.7 6.7 -1.4 -2.0 | 4.3
| | |
2001 | -1.0 -.6 -.3 -.2 -.5 -.6 -.4 -.1 -.5 -.4 -.5 .0 | -6.7 -4.6 -4.7 -4.2 | -3.6
2002 | .7 -.2 .6 .4 .2 .7 -.1 .0 .0 -.5 .1 -.4 | 2.3 4.4 1.7 -2.3 | -.3
2003 | .2 .1 -.4 -.9 .1 .3 .6 -.1 .7 .2 1.0 .2 | -.7 -4.0 4.1 5.7 | .0
2004 | .3 1.1 -.3 .5 .7 -.4 .7 .1 -.1 .7 .2 | 5.6 4.3 2.9 |
| | |
IP (1997=100) | | |
1974 | 56.7 56.5 56.5 56.5 56.8 56.7 56.8 56.2 56.3 56.1 54.2 52.3 | 56.6 56.7 56.4 54.2 | 56.0
1975 | 51.6 50.4 49.8 49.8 49.8 50.1 50.6 51.1 51.8 52.0 52.1 52.8 | 50.6 49.9 51.2 52.3 | 51.0
| | |
1976 | 53.5 54.0 54.0 54.4 54.6 54.6 54.9 55.3 55.4 55.5 56.3 56.9 | 53.8 54.5 55.2 56.3 | 55.0
1977 | 56.6 57.4 58.1 58.7 59.1 59.5 59.7 59.8 60.1 60.3 60.3 60.4 | 57.4 59.1 59.9 60.3 | 59.2
1978 | 59.5 59.8 60.9 62.1 62.4 62.8 62.8 63.0 63.2 63.7 64.2 64.6 | 60.1 62.4 63.0 64.1 | 62.4
1979 | 64.1 64.5 64.7 64.0 64.5 64.5 64.4 63.9 64.0 64.3 64.3 64.4 | 64.4 64.3 64.1 64.3 | 64.3
1980 | 64.6 64.7 64.4 63.2 61.6 60.8 60.4 60.6 61.6 62.3 63.4 63.7 | 64.6 61.8 60.9 63.1 | 62.6
| | |
1981 | 63.4 63.1 63.4 63.1 63.6 63.9 64.3 64.3 63.9 63.4 62.7 62.1 | 63.3 63.5 64.2 62.7 | 63.4
1982 | 60.9 62.1 61.6 61.1 60.7 60.5 60.2 59.7 59.5 59.0 58.7 58.2 | 61.5 60.7 59.8 58.6 | 60.2
1983 | 59.4 59.0 59.5 60.2 60.7 61.0 62.0 62.7 63.6 64.2 64.3 64.7 | 59.3 60.6 62.8 64.4 | 61.8
1984 | 66.0 66.3 66.6 67.0 67.3 67.6 67.8 67.9 67.7 67.7 68.0 68.0 | 66.3 67.3 67.8 67.9 | 67.3
1985 | 67.8 68.1 68.2 68.1 68.2 68.2 67.7 68.1 68.4 68.1 68.3 69.0 | 68.1 68.2 68.1 68.5 | 68.2
| | |
1986 | 69.4 68.9 68.4 68.4 68.6 68.3 68.8 68.6 68.8 69.1 69.4 70.0 | 68.9 68.4 68.7 69.5 | 68.9
1987 | 69.8 70.7 70.8 71.2 71.7 72.0 72.5 73.0 73.1 74.2 74.6 74.9 | 70.4 71.6 72.9 74.6 | 72.4
1988 | 75.0 75.2 75.4 75.8 75.7 75.9 76.0 76.4 76.2 76.6 76.8 77.1 | 75.2 75.8 76.2 76.8 | 76.0
1989 | 77.3 76.9 77.1 77.1 76.5 76.6 75.9 76.6 76.3 76.3 76.5 77.0 | 77.1 76.7 76.3 76.6 | 76.7
1990 | 76.6 77.2 77.6 77.6 77.6 77.9 77.7 77.9 78.1 77.5 76.6 76.1 | 77.1 77.7 77.9 76.7 | 77.4
| | |
1991 | 75.7 75.2 74.9 75.0 75.8 76.5 76.5 76.6 77.3 77.1 77.0 76.8 | 75.3 75.7 76.8 77.0 | 76.2
1992 | 76.3 76.9 77.5 78.0 78.4 78.3 78.9 78.6 78.7 79.3 79.6 79.6 | 76.9 78.2 78.8 79.5 | 78.4
1993 | 80.0 80.4 80.4 80.6 80.3 80.5 80.8 80.8 81.2 81.7 82.1 82.6 | 80.3 80.5 80.9 82.2 | 80.9
1994 | 82.9 83.0 83.7 84.2 84.7 85.3 85.5 85.9 86.1 86.8 87.4 88.3 | 83.2 84.7 85.8 87.5 | 85.3
1995 | 88.6 88.6 88.7 88.6 88.8 89.1 88.7 89.9 90.3 90.2 90.4 90.9 | 88.6 88.8 89.7 90.5 | 89.4
| | |
1996 | 90.0 91.4 91.1 92.0 92.6 93.4 93.3 93.9 94.5 94.6 95.5 96.2 | 90.8 92.7 93.9 95.4 | 93.2
1997 | 96.4 97.6 98.1 98.3 98.7 99.2 99.8 100.8 101.7 102.5 103.2 103.6 | 97.4 98.7 100.8 103.1 | 100.0
1998 | 104.1 104.2 104.5 105.2 105.7 105.3 105.1 107.0 106.7 107.5 107.3 107.5 | 104.3 105.4 106.3 107.4 | 105.8
1999 | 108.2 108.6 109.0 109.3 110.0 110.0 110.7 111.4 111.0 112.3 112.8 113.9 | 108.6 109.8 111.0 113.0 | 110.6
2000 | 113.8 114.3 114.9 115.7 116.4 116.4 115.9 115.5 115.9 115.4 115.2 115.0 | 114.3 116.2 115.8 115.2 | 115.4
| | |
2001 | 113.8 113.1 112.7 112.5 111.9 111.3 110.8 110.7 110.1 109.7 109.2 109.2 | 113.2 111.9 110.6 109.4 | 111.3
2002 | 109.9 109.7 110.3 110.7 111.0 111.8 111.7 111.6 111.6 111.1 111.2 110.7 | 110.0 111.2 111.6 111.0 | 111.0
2003 | 110.9 111.0 110.6 109.5 109.6 109.9 110.6 110.5 111.3 111.6 112.7 112.9 | 110.8 109.7 110.8 112.4 | 110.9
2004 | 113.2 114.4 114.1 114.7 115.5 115.1 115.9 116.0 115.9 116.7 117.0 | 113.9 115.1 115.9 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
<1> Annual averages of industrial production are calculated from not seasonally adjusted indexes.
1Table 1B
CAPACITY AND UTILIZATION: Total
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
Capacity | | |
(percent of | | |
1997 output) | | |
1974 | 65.0 65.2 65.4 65.5 65.7 65.9 66.0 66.2 66.4 66.5 66.6 66.8 | 65.2 65.7 66.2 66.6 | 65.9
1975 | 66.9 67.0 67.1 67.3 67.4 67.5 67.6 67.7 67.9 68.0 68.1 68.2 | 67.0 67.4 67.7 68.1 | 67.6
| | |
1976 | 68.4 68.5 68.7 68.8 69.0 69.1 69.2 69.4 69.5 69.7 69.9 70.0 | 68.5 69.0 69.4 69.9 | 69.2
1977 | 70.2 70.3 70.5 70.7 70.8 71.0 71.2 71.4 71.6 71.8 72.0 72.2 | 70.3 70.8 71.4 72.0 | 71.2
1978 | 72.4 72.6 72.8 73.0 73.2 73.4 73.6 73.8 74.0 74.2 74.4 74.6 | 72.6 73.2 73.8 74.4 | 73.5
1979 | 74.7 74.9 75.1 75.2 75.4 75.6 75.7 75.9 76.1 76.2 76.4 76.5 | 74.9 75.4 75.9 76.4 | 75.6
1980 | 76.6 76.8 76.9 77.1 77.2 77.4 77.5 77.6 77.8 77.9 78.1 78.3 | 76.8 77.2 77.6 78.1 | 77.4
| | |
1981 | 78.4 78.6 78.8 78.9 79.1 79.3 79.5 79.7 79.9 80.1 80.3 80.5 | 78.6 79.1 79.7 80.3 | 79.4
1982 | 80.7 80.8 81.0 81.2 81.4 81.5 81.7 81.8 82.0 82.1 82.2 82.3 | 80.8 81.4 81.8 82.2 | 81.6
1983 | 82.3 82.4 82.5 82.5 82.6 82.6 82.6 82.7 82.7 82.8 82.9 82.9 | 82.4 82.6 82.7 82.9 | 82.6
1984 | 83.0 83.1 83.2 83.3 83.5 83.6 83.7 83.9 84.1 84.2 84.4 84.6 | 83.1 83.5 83.9 84.4 | 83.7
1985 | 84.8 84.9 85.1 85.3 85.5 85.7 85.9 86.0 86.2 86.4 86.5 86.7 | 84.9 85.5 86.0 86.5 | 85.7
| | |
1986 | 86.8 86.9 87.0 87.1 87.2 87.4 87.5 87.6 87.7 87.8 87.9 88.1 | 86.9 87.2 87.6 87.9 | 87.4
1987 | 88.2 88.3 88.5 88.6 88.8 89.0 89.1 89.2 89.4 89.5 89.6 89.7 | 88.3 88.8 89.2 89.6 | 89.0
1988 | 89.8 89.9 89.9 90.0 90.1 90.1 90.2 90.3 90.3 90.4 90.5 90.6 | 89.9 90.1 90.3 90.5 | 90.2
1989 | 90.8 90.9 91.0 91.2 91.4 91.6 91.7 91.9 92.1 92.3 92.5 92.7 | 90.9 91.4 91.9 92.5 | 91.7
1990 | 92.9 93.1 93.3 93.5 93.7 93.9 94.0 94.2 94.4 94.5 94.7 94.8 | 93.1 93.7 94.2 94.7 | 93.9
| | |
1991 | 94.9 95.1 95.2 95.3 95.5 95.6 95.7 95.9 96.0 96.1 96.3 96.4 | 95.1 95.5 95.9 96.3 | 95.7
1992 | 96.5 96.7 96.9 97.1 97.3 97.5 97.7 97.9 98.0 98.2 98.4 98.6 | 96.7 97.3 97.9 98.4 | 97.6
1993 | 98.7 98.9 99.0 99.2 99.3 99.5 99.6 99.8 99.9 100.1 100.3 100.5 | 98.9 99.3 99.8 100.3 | 99.6
1994 | 100.7 100.9 101.1 101.4 101.7 102.0 102.3 102.6 102.9 103.3 103.6 104.0 | 100.9 101.7 102.6 103.6 | 102.2
1995 | 104.4 104.8 105.2 105.7 106.1 106.5 107.0 107.5 108.0 108.4 108.9 109.4 | 104.8 106.1 107.5 108.9 | 106.8
| | |
1996 | 109.9 110.4 111.0 111.5 112.0 112.5 113.0 113.5 114.0 114.5 115.0 115.5 | 110.5 112.0 113.5 115.0 | 112.7
1997 | 116.1 116.6 117.2 117.7 118.3 118.9 119.6 120.2 120.9 121.7 122.4 123.1 | 116.6 118.3 120.3 122.4 | 119.4
1998 | 123.9 124.6 125.4 126.1 126.8 127.6 128.2 128.9 129.5 130.1 130.6 131.2 | 124.6 126.8 128.8 130.6 | 127.7
1999 | 131.7 132.3 132.8 133.3 133.8 134.4 134.9 135.4 135.9 136.4 136.9 137.4 | 132.3 133.8 135.4 136.9 | 134.6
2000 | 138.0 138.5 139.0 139.5 140.0 140.5 141.0 141.4 141.9 142.3 142.8 143.2 | 138.5 140.0 141.4 142.7 | 140.7
| | |
2001 | 143.6 143.9 144.3 144.6 145.0 145.3 145.6 145.9 146.1 146.4 146.6 146.8 | 143.9 145.0 145.9 146.6 | 145.3
2002 | 147.0 147.2 147.3 147.4 147.5 147.5 147.5 147.5 147.4 147.4 147.3 147.2 | 147.2 147.5 147.5 147.3 | 147.4
2003 | 147.1 147.0 146.9 146.9 146.8 146.8 146.7 146.8 146.8 146.9 146.9 147.0 | 147.0 146.8 146.8 146.9 | 146.9
2004 | 147.2 147.3 147.5 147.6 147.8 147.9 148.1 148.2 148.4 148.5 148.7 | 147.3 147.8 148.2 |
| | |
Utilization | | |
(percent) | | |
1974 | 87.3 86.8 86.5 86.1 86.4 86.1 85.9 84.9 84.8 84.3 81.4 78.3 | 86.8 86.2 85.2 81.3 | 84.9
1975 | 77.2 75.1 74.2 74.1 73.9 74.2 74.9 75.5 76.3 76.4 76.5 77.3 | 75.5 74.0 75.5 76.7 | 75.5
| | |
1976 | 78.2 78.8 78.6 79.1 79.2 79.0 79.3 79.7 79.7 79.6 80.7 81.3 | 78.6 79.1 79.6 80.5 | 79.4
1977 | 80.7 81.7 82.5 83.0 83.5 83.8 83.8 83.7 83.9 83.9 83.8 83.6 | 81.6 83.4 83.8 83.8 | 83.2
1978 | 82.2 82.4 83.7 85.1 85.2 85.5 85.2 85.3 85.3 85.9 86.3 86.6 | 82.7 85.2 85.3 86.3 | 84.9
1979 | 85.8 86.1 86.2 85.1 85.5 85.3 85.0 84.2 84.2 84.4 84.2 84.1 | 86.0 85.3 84.5 84.2 | 85.0
1980 | 84.3 84.2 83.8 81.9 79.7 78.6 77.9 78.0 79.2 80.0 81.1 81.4 | 84.1 80.1 78.4 80.8 | 80.9
| | |
1981 | 80.8 80.3 80.5 80.0 80.3 80.5 80.9 80.7 80.0 79.2 78.2 77.2 | 80.5 80.3 80.5 78.2 | 79.9
1982 | 75.5 76.8 76.0 75.2 74.6 74.1 73.7 73.0 72.6 71.9 71.5 70.8 | 76.1 74.6 73.1 71.4 | 73.8
1983 | 72.1 71.6 72.1 73.0 73.5 73.9 75.0 75.8 76.9 77.5 77.7 78.0 | 71.9 73.4 75.9 77.7 | 74.7
1984 | 79.5 79.8 80.1 80.4 80.7 80.9 81.0 80.9 80.6 80.4 80.5 80.4 | 79.8 80.7 80.8 80.4 | 80.4
1985 | 80.0 80.2 80.2 79.9 79.7 79.6 78.9 79.1 79.3 78.9 79.0 79.7 | 80.1 79.7 79.1 79.2 | 79.5
| | |
1986 | 80.0 79.2 78.6 78.5 78.6 78.2 78.6 78.4 78.4 78.7 78.9 79.5 | 79.3 78.5 78.5 79.0 | 78.8
1987 | 79.1 80.0 80.0 80.3 80.7 81.0 81.3 81.8 81.8 82.9 83.3 83.5 | 79.7 80.7 81.6 83.2 | 81.3
1988 | 83.5 83.7 83.9 84.2 84.1 84.2 84.3 84.7 84.4 84.8 84.8 85.1 | 83.7 84.2 84.5 84.9 | 84.3
1989 | 85.1 84.6 84.7 84.5 83.8 83.6 82.7 83.3 82.9 82.7 82.7 83.1 | 84.8 84.0 82.9 82.8 | 83.6
1990 | 82.4 83.0 83.2 83.0 82.9 83.0 82.7 82.7 82.8 82.0 80.9 80.2 | 82.9 82.9 82.7 81.1 | 82.4
| | |
1991 | 79.7 79.1 78.6 78.6 79.4 80.0 79.9 79.9 80.5 80.2 80.0 79.6 | 79.2 79.4 80.1 79.9 | 79.6
1992 | 79.1 79.5 80.0 80.4 80.6 80.4 80.8 80.3 80.3 80.7 80.9 80.8 | 79.5 80.4 80.5 80.8 | 80.3
1993 | 81.1 81.3 81.1 81.3 80.9 80.9 81.1 81.0 81.2 81.7 81.9 82.2 | 81.2 81.0 81.1 81.9 | 81.3
1994 | 82.4 82.2 82.8 83.0 83.3 83.6 83.6 83.7 83.6 84.1 84.3 84.9 | 82.5 83.3 83.6 84.4 | 83.5
1995 | 84.8 84.5 84.3 83.9 83.7 83.6 82.9 83.7 83.7 83.2 83.0 83.0 | 84.5 83.7 83.4 83.0 | 83.7
| | |
1996 | 81.9 82.7 82.1 82.5 82.7 83.1 82.6 82.8 82.9 82.6 83.0 83.2 | 82.2 82.8 82.8 82.9 | 82.7
1997 | 83.1 83.7 83.7 83.5 83.4 83.4 83.5 83.8 84.1 84.3 84.3 84.1 | 83.5 83.4 83.8 84.2 | 83.7
1998 | 84.0 83.6 83.3 83.4 83.3 82.5 81.9 83.1 82.4 82.7 82.1 82.0 | 83.7 83.1 82.5 82.3 | 82.9
1999 | 82.1 82.1 82.1 81.9 82.2 81.9 82.1 82.3 81.7 82.3 82.4 82.9 | 82.1 82.0 82.0 82.5 | 82.2
2000 | 82.5 82.5 82.7 82.9 83.2 82.9 82.2 81.7 81.7 81.1 80.7 80.3 | 82.6 83.0 81.9 80.7 | 82.0
| | |
2001 | 79.3 78.6 78.1 77.8 77.2 76.6 76.1 75.9 75.4 75.0 74.5 74.4 | 78.7 77.2 75.8 74.6 | 76.6
2002 | 74.8 74.6 74.9 75.1 75.3 75.8 75.7 75.7 75.7 75.4 75.5 75.2 | 74.7 75.4 75.7 75.4 | 75.3
2003 | 75.4 75.5 75.2 74.6 74.7 74.9 75.4 75.3 75.8 76.0 76.7 76.8 | 75.4 74.7 75.5 76.5 | 75.5
2004 | 76.9 77.7 77.4 77.7 78.2 77.8 78.3 78.3 78.1 78.6 78.7 | 77.3 77.9 78.2 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
1Table 2
RATES OF CHANGE IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY: 2000-2004 <1>
--------------------------------------------------------------------------------------------------------------------------------------------
| | Difference between
| Revised change | revised and earlier changes
| (percent) | (percentage points)
Item | 2000 2001 2002 2003 2004 | 2000 2001 2002 2003 2004
--------------------------------------------------------------------------------------------------------------------------------------------
| |
Total IP | 1.9 -5.1 1.5 1.2 4.3 | -.4 .2 .1 -.3 -.6
| |
MARKET GROUPS | |
Final products and nonindustrial supplies | 2.0 -4.7 .6 1.7 4.7 | -.4 .3 .1 .5 -.6
Consumer goods | .9 -1.5 1.6 1.3 2.3 | -.1 .7 .6 .8 -.4
Durable | -2.1 -1.3 6.4 3.3 -.2 | -.2 1.6 .4 .3 -.7
Automotive products | -4.5 2.3 10.1 5.2 -2.8 | .5 1.2 .2 .3 -2.3
Home electronics | 13.7 5.8 -4.0 34.8 -12.0 | -2.0 16.1 -8.4 9.8 -1.8
Appliances, furniture, carpeting | -.9 -3.4 1.8 1.4 3.6 | -.3 -1.4 .0 .4 2.6
Miscellaneous goods | -1.5 -6.6 4.3 -3.5 4.7 | -1.2 1.5 1.9 -1.3 .8
Nondurable | 2.0 -1.6 -.2 .4 3.3 | .0 .3 .5 .8 -.2
Non-energy | .8 -.8 -2.3 .8 4.3 | -.2 .3 .5 .8 -.7
Foods and tobacco | 1.2 -1.2 -3.6 2.4 4.7 | .5 -.6 .2 4.0 1.4
Clothing | -7.7 -20.8 -9.7 -14.9 -6.4 | -2.2 -5.6 -7.3 -1.7 -2.6
Chemical products | 3.8 7.0 .9 .6 4.1 | -.6 4.0 2.7 -2.9 -2.7
Paper products | -2.0 -2.7 -.8 .6 7.1 | -.9 .6 .1 -4.9 -4.6
Energy | 7.9 -5.2 10.1 -1.4 -1.2 | .8 .6 1.3 .6 1.3
| |
Business equipment | 6.2 -13.3 -2.6 4.7 11.3 | -.6 -.5 -1.2 1.9 -1.3
Transit | -11.7 -3.5 -12.6 .2 10.2 | -.5 2.5 2.5 3.5 2.3
Information processing | 19.8 -17.4 -3.7 16.3 9.4 | .6 -4.6 -9.2 7.9 -4.1
Industrial and other | 3.6 -13.7 2.1 -.5 12.8 | -1.3 1.4 3.0 -1.8 -.9
Defense and space equipment | -4.3 8.0 3.8 5.3 6.4 | -1.3 -4.4 .2 .7 -.4
| |
Construction supplies | -1.1 -5.0 .1 .6 5.1 | -.9 1.5 -.4 -.5 1.4
Business supplies | 2.3 -5.5 1.4 .0 4.9 | -.6 .1 .1 -1.4 -2.1
| |
Materials | 1.9 -5.6 2.8 .5 3.7 | -.4 .1 .2 -1.4 -.6
Non-energy | 1.8 -6.5 3.5 .8 5.7 | -.6 .1 .5 -1.6 -.8
Durable | 4.9 -7.2 4.6 2.2 7.0 | -.7 -.1 .3 -2.0 -.8
Consumer parts | -8.5 -7.9 7.1 2.7 -.4 | -1.4 -.8 .4 .7 .1
Equipment parts | 22.2 -7.9 6.2 5.8 17.5 | -.8 -.5 .3 -5.9 .1
Other | -4.3 -6.2 1.9 -.9 3.0 | -.4 .6 .4 -.4 -1.4
Nondurable | -3.9 -5.2 1.7 -1.3 3.5 | -.2 .4 .8 -.8 -.7
Textile | -10.2 -9.5 2.0 -13.0 -4.4 | -.4 2.2 3.0 -2.7 1.5
Paper | -4.1 -6.3 2.1 -4.3 4.5 | .6 -.2 .6 .2 -1.0
Chemical | -4.4 -4.6 2.1 2.0 5.5 | -.5 .5 .4 -.7 -.8
Energy | 1.9 -2.8 .4 -.3 -1.4 | .2 .0 -.6 -.8 -.2
| |
| |
INDUSTRY GROUPS | |
Manufacturing | 1.5 -5.4 1.3 1.5 5.3 | -.5 .2 .2 -.3 -.9
Manufacturing (NAICS) | 1.7 -5.3 1.6 1.6 5.2 | -.5 .2 .3 -.1 -.6
| |
Durable manufacturing | 4.1 -7.2 3.2 3.3 6.7 | -.7 .1 .2 -.4 -.8
Wood products 321 | -6.9 -1.6 .0 3.2 1.3 | -.4 .6 1.8 -.6 -.6
Nonmetallic mineral products 327 | -3.4 -2.5 .3 1.7 4.7 | -1.8 3.1 -1.8 .5 4.1
Primary metal 331 | -10.2 -8.7 7.1 .6 3.8 | -1.0 2.0 3.6 1.2 -2.6
Fabricated metal products 332 | .0 -8.6 -.2 -2.9 4.4 | .0 -.2 -.1 -1.1 -1.0
Machinery 333 | 1.8 -16.7 1.3 .6 14.4 | -.6 .3 2.2 -2.2 -.6
Computer and electronic products 334 | 29.0 -9.0 5.6 14.5 16.1 | -.4 -1.4 -5.2 -1.2 -.9
Electrical equip., appliances, | |
and components 335 | 2.5 -14.7 -5.2 1.1 8.1 | .2 -1.9 -3.0 .0 -.8
Motor vehicles and parts 3361-3 | -9.7 -2.1 11.3 4.8 -1.1 | -.6 .7 1.4 1.0 -.8
Aerospace and miscellaneous | |
transportation equipment 3364-9 | -4.8 4.7 -7.5 .8 4.2 | -.9 -.2 2.3 .3 -.5
Furniture and related products 337 | -.7 -6.3 4.2 -1.8 3.5 | -1.3 1.2 4.6 .9 -.6
Miscellaneous 339 | 2.9 -1.5 7.4 -2.2 4.2 | -3.2 1.3 3.8 -1.0 -.9
| |
Nondurable manufacturing | -1.5 -2.9 -.4 -.4 3.2 | -.1 .3 .5 .3 -.5
Food, beverage, and tobacco products 311,2 | 1.0 -.8 -2.9 2.1 4.0 | .5 -.4 .7 3.3 .8
Textile and product mills 313,4 | -6.7 -9.5 .4 -8.5 -1.6 | -.3 .7 1.7 -1.6 1.6
Apparel and leather 315,6 | -7.5 -21.0 -9.3 -14.3 -5.7 | -2.1 -5.6 -7.3 -1.9 -2.6
Paper 322 | -4.7 -5.7 4.1 -3.3 4.8 | .1 .3 1.2 -.6 .2
Printing and support 323 | -1.3 -8.1 -3.2 -3.5 .6 | .0 -1.4 -1.5 2.0 -4.1
Petroleum and coal products 324 | -1.1 .8 4.1 1.2 3.4 | .6 3.3 2.9 -1.3 3.4
Chemical 325 | -.6 .2 1.0 1.2 4.2 | -.4 1.5 1.1 -1.8 -2.5
Plastics and rubber products 326 | -4.0 -4.4 2.4 -2.2 1.9 | -.8 1.3 .2 -1.8 -.9
| |
Other manufacturing (non-NAICS) 1133,5111 | -1.9 -6.3 -3.9 .3 6.5 | -.4 .0 -1.7 -4.0 -3.9
| |
Mining 21 | 1.3 -.6 -3.8 .2 -1.5 | .3 .4 -1.5 -.1 .6
Utilities 2211,2 | 6.1 -5.1 7.1 -.6 .6 | .0 .1 .5 .0 .4
Electric 2211 | 4.9 -3.7 5.7 .5 1.5 | .0 .0 .2 -.1 1.1
Natural gas 2212 | 13.2 -12.8 15.4 -6.2 -3.6 | .3 .0 2.0 -.3 -2.9
--------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates for the third quarter of 2004 are subject to further revision in the upcoming monthly releases.
<1> Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the
previous year to the fourth quarter of the year specified in the column heading. For 2004, the rates are
calculated from the fourth quarter of 2003 to the third quarter of 2004 and annualized.
1Table 3
RATES OF CHANGE IN INDUSTRIAL PRODUCTION, SPECIAL AGGREGATES AND SELECTED DETAIL: 2000-2004 <1>
-------------------------------------------------------------------------------------------------------------------------------------
| | Difference between
| Revised change | revised and earlier changes
| (percent) | (percentage points)
Item | 2000 2001 2002 2003 2004 | 2000 2001 2002 2003 2004
-------------------------------------------------------------------------------------------------------------------------------------
| |
Total industry | 1.9 -5.1 1.5 1.2 4.3 | -.4 .2 .1 -.3 -.6
| |
Energy | 4.3 -3.3 2.9 -.3 -.4 | .4 .3 .0 -.3 .3
Consumer products | 7.9 -5.2 10.1 -1.4 -1.2 | .8 .6 1.3 .6 1.3
Commercial products | 6.2 -1.3 4.7 .1 4.8 | .2 .3 1.2 -1.3 -.6
Oil and gas well drilling | 34.8 -8.1 -15.5 21.0 6.0 | 5.5 2.8 -.7 17.0 12.9
Converted fuel | 5.5 -8.1 4.0 .0 -.6 | .1 -.2 .3 -1.0 .5
Primary materials | .0 .0 -1.5 -.4 -1.9 | .3 .2 -1.0 -.7 -.6
| |
Non-energy | 1.5 -5.4 1.2 1.5 5.3 | -.5 .2 .2 -.3 -.9
Selected high-technology industries | 37.6 -10.1 8.1 18.7 20.2 | -.6 -1.6 -7.2 -2.6 -1.5
Computer and peripheral equipment 3341 | 18.6 -3.6 .9 21.8 4.5 | -.6 2.1 -23.0 7.7 -15.2
Communications equipment 3342 | 28.6 -30.3 -14.3 22.5 8.4 | 1.0 -7.5 -8.8 16.7 -.1
Semiconductors and related | |
electronic components 334412-9 | 51.2 1.7 25.2 16.2 35.2 | -1.6 .9 .3 -18.2 6.1
| |
Excluding selected high-technology | |
industries | -2.0 -5.0 .7 .4 4.4 | -.5 .3 .7 -.2 -.8
| |
Motor vehicles and parts 3361-3 | -9.7 -2.1 11.3 4.8 -1.1 | -.6 .7 1.4 1.0 -.8
Motor vehicles 3361 | -11.8 2.5 11.1 6.7 -2.4 | .3 .9 -.5 3.0 -.4
Motor vehicle parts 3363 | -7.1 -5.0 10.8 2.7 -1.5 | -1.4 .3 3.0 -.3 -1.0
| |
Excluding motor vehicles and parts | -1.2 -5.2 -.4 .0 5.0 | -.5 .3 .6 -.3 -.8
Consumer goods | .4 -1.7 -1.2 .7 3.9 | -.3 .3 .7 .5 -.3
Business equipment | 2.9 -10.0 -2.2 .1 11.8 | -.9 1.4 2.4 -.9 -.9
Construction supplies | -1.4 -4.8 .2 .6 5.0 | -.9 1.6 -.2 -.5 1.3
Business supplies | -1.5 -6.4 -.2 -.9 3.9 | -.8 .1 -.2 -1.1 -2.8
Materials | -3.2 -7.2 .7 -.9 4.2 | -.3 .0 .4 -.6 -1.0
| |
Measures excluding selected high-technology | |
industries | |
Total industry | -1.0 -4.6 1.0 .3 3.5 | -.4 .3 .6 -.2 -.6
Manufacturing 2 | -1.9 -4.9 .7 .4 4.3 | -.5 .3 .8 -.2 -.8
Durable | -2.3 -6.5 2.3 1.2 5.0 | -.7 .4 1.3 -.1 -.7
| |
Measures excluding motor vehicles and parts | |
Total industry | 2.8 -5.2 .8 .9 4.7 | -.4 .2 .0 -.4 -.5
Manufacturing 2 | 2.5 -5.6 .4 1.2 5.9 | -.5 .2 .1 -.5 -.8
Durable | 6.5 -7.9 1.6 2.9 8.4 | -.8 .0 -.1 -.7 -.7
| |
Measures excluding selected high-technology | |
industries and motor vehicles and parts | |
Total industry | -.2 -4.8 .3 -.1 3.9 | -.3 .3 .5 -.3 -.5
Manufacturing 2 | -1.2 -5.2 -.3 .0 4.9 | -.4 .3 .6 -.3 -.8
| |
Stage-of-process components of non-energy | |
materials, measures of the input to | |
Finished processors | 7.4 -7.7 5.5 1.9 8.5 | -.7 -.3 .5 -2.7 -.3
Semifinished and primary processors | -3.7 -5.3 1.7 .0 3.4 | -.4 .5 .5 -.7 -1.1
| |
Stage-of-process groups | |
Crude | -2.8 -2.9 -1.0 -1.4 1.0 | .0 -.1 -.2 -.7 -.3
Primary and semifinished | 2.3 -5.9 3.4 .3 4.2 | -.4 .4 .4 -1.5 -.6
Finished | 2.7 -4.4 -.4 3.3 5.3 | -.4 .0 -.1 1.5 -.7
-------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates for the third quarter of 2004 are subject to further revision in the upcoming monthly releases.
<1> Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the
previous year to the fourth quarter of the year specified in the column heading. For 2004, the rates are
calculated from the fourth quarter of 2003 to the third quarter of 2004 and annualized.
<2> Manufacturing consists of those industries included in the North American Industry
Classification System, or NAICS, definition of manufacturing plus those industries--logging and
newspaper, periodical, book and directory publishing--that have traditionally been considered
to be a part of manufacturing and are included in the industrial sector.
1Table 4
REVISED AND EARLIER CAPACITY UTILIZATION RATES, BY INDUSTRY GROUPS
Percent of capacity, seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------
| | Difference between
| Revised rate | revised and earlier rates
| | (percentage points)
| 1972- 1988- 1990- |
Item | 2003 1989 1991 2002 2003 2004 | 2002 2003 2004
| Ave. High Low Q4 Q4 Q3 | Q4 Q4 Q3
---------------------------------------------------------------------------------------------------------------------------------------
Total industry | 81.1 85.1 78.6 75.4 76.5 78.2 | .2 1.0 .9
| |
Manufacturing | 79.9 85.6 77.2 73.5 74.8 77.0 | .1 .6 .4
Manufacturing (NAICS) | 79.7 85.5 77.0 73.2 74.3 76.5 | .0 .7 .7
| |
Durable manufacturing | 78.1 84.5 73.4 70.7 72.1 74.5 | .2 .7 1.0
Wood products 321 | 80.1 88.9 73.1 74.4 77.4 78.5 | .9 .8 .9
Nonmetallic mineral products 327 | 79.2 84.9 72.0 76.8 78.0 80.3 | -1.1 -.8 1.5
Primary metal 331 | 80.5 94.3 74.6 78.6 79.3 82.1 | 1.4 2.8 .9
Fabricated metal products 332 | 76.9 80.2 71.6 69.4 67.7 70.1 | -.3 -.4 -.1
Machinery 333 | 78.9 84.8 73.0 67.9 69.9 77.5 | 1.1 .6 .4
Computer and electronic products 334 | 79.0 81.7 76.6 62.7 67.7 70.9 | -.4 .9 2.4
Electrical equip., appliances, | |
and components 335 | 82.8 87.5 75.1 72.6 74.8 80.0 | -1.5 -.8 -.5
Motor vehicles and parts 3361-3 | 77.6 90.3 56.0 80.9 81.9 79.8 | -.3 .1 .2
Aerospace and miscellaneous | |
transportation equipment 3364-9 | 72.7 88.7 82.1 63.2 63.2 64.8 | -1.1 -1.5 -2.1
Furniture and related products 337 | 78.8 83.6 69.4 72.6 71.1 73.5 | 1.5 1.9 2.2
Miscellaneous 339 | 76.5 81.7 77.7 75.9 74.1 76.4 | -.8 -1.6 -2.4
| |
Nondurable manufacturing | 81.9 87.1 81.7 76.6 77.3 79.3 | -.2 .5 .1
Food, beverage, and tobacco products 311,2 | 81.9 85.6 81.0 76.6 78.7 81.0 | -.7 1.7 1.4
Textile and product mills 313,4 | 83.4 91.5 77.2 76.8 73.4 74.8 | 1.9 1.3 2.5
Apparel and leather 315,6 | 79.6 84.2 77.3 66.7 64.9 68.5 | -.4 .8 2.2
Paper 322 | 88.2 93.7 85.2 84.8 83.5 86.8 | -.1 -.1 -.3
Printing and support 323 | 84.1 91.6 82.7 73.0 71.7 71.9 | -1.3 .5 -2.9
Petroleum and coal products 324 | 86.0 88.9 82.9 87.0 88.9 90.2 | -1.1 -.2 1.2
Chemical 325 | 78.5 85.7 80.9 73.5 74.1 75.9 | .6 -.2 -1.0
Plastics and rubber products 326 | 83.7 91.1 77.1 81.1 81.2 83.1 | 1.5 .3 .1
| |
Other manufacturing (non-NAICS) 1133,5111 | 84.8 90.5 80.4 80.7 83.3 87.5 | 1.8 -.1 -2.9
| |
Mining 21 | 87.1 85.8 83.5 85.4 87.1 86.3 | .8 1.8 2.4
Utilities 2211,2 | 86.9 92.8 84.2 87.9 84.8 84.0 | .7 1.7 1.9
| |
Selected high-technology industries | 78.6 81.0 74.3 60.9 66.7 69.9 | -.9 -.3 1.8
Computer and peripheral equipment 3341 | 78.6 80.2 67.5 70.9 74.1 73.6 | -.7 .7 -.8
Communications equipment 3342 | 76.6 80.8 73.4 42.8 52.8 56.7 | -5.4 2.1 2.7
Semiconductors and related | |
electronic components 334412-9 | 81.2 82.8 77.5 69.8 74.8 78.5 | 3.2 -.7 4.4
| |
Measures excluding selected high-technology | |
industries | |
Total industry | 81.2 85.5 78.8 76.4 77.1 78.9 | .1 .6 .4
Manufacturing 1 | 80.0 86.0 77.3 74.6 75.4 77.8 | .0 .2 -.2
| |
Stage-of-process groups | |
Crude | 86.4 88.9 84.8 83.5 84.9 85.8 | .4 1.1 1.3
Primary and semifinished | 82.2 86.5 77.5 78.0 78.4 79.7 | .5 .8 .7
Finished | 78.0 83.1 77.2 70.8 72.4 75.0 | -.3 .8 .7
---------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates for the third quarter of 2004 are subject to further revision in the upcoming monthly releases.
1. See footnote 2 to table 3.
1Table 5
RATES OF CHANGE IN CAPACITY, BY INDUSTRY GROUPS: 2000-2004 <1>
---------------------------------------------------------------------------------------------------------------------------------------------------------
| | Difference between
| Revised change | revised and earlier changes
| (percent) | (percentage points)
Item | 2000 2001 2002 2003 2004 | 2000 2001 2002 2003 2004
---------------------------------------------------------------------------------------------------------------------------------------------------------
Total industry | 4.3 2.7 .5 -.2 1.2 | .2 .4 -1.2 -1.3 -.4
| |
Manufacturing 2 | 5.0 2.6 .0 -.1 1.1 | .1 .4 -1.1 -1.1 -.5
Manufacturing (NAICS) | 5.3 2.8 .2 .1 1.2 | .1 .4 -1.1 -1.0 -.6
Durable manufacturing | 8.5 4.9 .7 1.3 2.2 | .2 .2 -2.0 -1.2 -1.4
Nondurable manufacturing | 1.0 .2 -.5 -1.3 -.2 | .1 .6 -.1 -.6 .3
Other manufacturing (non-NAICS) | .7 -1.3 -2.5 -2.9 .1 | 1.0 -.3 -.9 -1.5 .7
| |
Mining | -1.0 2.0 -.6 -1.7 -.4 | .2 -.7 -.9 -1.2 -.4
Utilities | 3.2 3.9 4.6 3.0 1.9 | .7 .2 -1.4 -1.3 .4
| |
| |
Selected high-technology industries | 38.8 27.4 8.0 8.4 13.4 | -3.4 2.5 -9.7 -3.4 -7.3
Manufacturing 2<F0> ex. selected | |
high-technology industries | 1.7 .5 -.4 -.6 .1 | .4 .1 -.2 -.4 -.1
| |
Stage-of-process groups | |
Crude | -.9 .9 -.8 -2.2 -.2 | .4 -.3 -.4 -1.1 -.1
Primary and semifinished | 5.1 3.0 .8 -.2 2.0 | .0 .2 -1.0 -2.0 -.3
Finished | 4.7 2.4 .3 .6 .3 | .4 .6 -1.4 -.2 -.7
---------------------------------------------------------------------------------------------------------------------------------------------------------
<1> Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the
previous year to the fourth quarter of the year specified in the column heading.
<2> See footnote 2 to table 3.
1Table 6
RATES OF CHANGE IN ELECTRIC POWER USE: 2000-2004 <1>
-------------------------------------------------------------------------------------------------------------------------------------
| | Difference between
| Revised rate | revised and earlier rates
| (percent) | (percentage points)
Item | 2000 2001 2002 2003 2004 | 2000 2001 2002 2003 2004
-------------------------------------------------------------------------------------------------------------------------------------
Total Industry | 1.0 -6.4 -.3 -1.3 .8 | .0 1.3 -.8 1.4 -.8
| |
Manufacturing 2 | 1.2 -6.7 .1 -1.2 .7 | .0 1.4 -.8 1.6 -.8
Durable | -.1 -7.0 1.5 -2.5 2.7 | .0 1.2 -.7 1.2 -.1
Nondurable | 2.4 -6.4 -1.0 -.2 -.9 | .0 1.5 -.9 1.9 -1.3
| |
Mining | -2.7 -3.1 -5.0 -3.4 2.3 | .0 .1 -.4 -1.0 -.1
| |
Total ex. nuclear nondefense | .2 -5.4 -.4 -1.1 .8 | .0 1.3 -.8 1.4 -.5
Utility sales to industry | .6 -7.4 -.3 -1.5 .9 | .0 1.2 -.7 1.5 -.6
Industrial generation | 9.1 2.8 .7 .9 .2 | .0 2.6 -1.4 -.1 .3
-------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates for the third quarter of 2004 are subject to further revision in the upcoming monthly releases.
<1> Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the
previous year to the fourth quarter of the year specified in the column heading. For 2004, the rates are
calculated from the fourth quarter of 2003 to the third quarter of 2004 and annualized.
1Table 7A
INDUSTRIAL PRODUCTION: Manufacturing <1>
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <2>
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) | | |
1974 | -.9 -.4 -.1 -.2 .5 .1 -.1 -.8 .1 -.8 -3.0 -4.5 | -3.4 -.3 -1.5 -16.4 | -.3
1975 | -1.9 -3.0 -1.3 -.3 .1 .8 1.5 1.0 1.7 .4 .3 1.3 | -28.8 -7.0 14.1 10.5 | -10.5
| | |
1976 | 1.3 1.3 .1 .8 .4 .0 .8 .7 .2 .1 1.3 1.0 | 13.5 6.8 5.8 6.8 | 8.9
1977 | -.3 1.7 1.4 1.1 .8 .8 .2 .6 .2 .4 .1 1.0 | 10.4 14.3 5.7 4.6 | 8.7
1978 | -1.5 .4 1.7 1.5 .3 .7 .0 .5 .5 .8 .9 .9 | .1 13.5 4.3 9.0 | 6.0
1979 | -.9 .5 .5 -1.4 1.1 .1 .1 -1.3 .3 .3 -.3 .4 | 1.7 -.8 -.9 -.1 | 3.1
1980 | .4 -.1 -.8 -2.0 -3.0 -1.5 -.9 .7 1.6 1.7 1.8 .3 | .8 -18.7 -7.6 18.8 | -3.7
| | |
1981 | -.3 -.6 .3 .5 .6 -.5 .2 .1 -.5 -1.0 -1.2 -1.6 | .7 3.2 .1 -10.0 | 1.1
1982 | -2.3 2.7 -.8 -.6 -.2 -.2 -.2 -.8 -.4 -1.1 -.7 -.5 | -8.8 -2.0 -4.1 -8.6 | -5.4
1983 | 2.5 -.2 1.0 1.2 1.3 .8 1.5 .8 1.9 1.1 .3 .2 | 8.7 12.3 15.5 12.5 | 4.6
1984 | 1.9 1.1 .5 .5 .3 .5 .5 .2 -.2 .4 .4 .4 | 12.9 6.1 3.8 2.8 | 9.9
1985 | -.4 -.3 .8 -.3 .1 .1 -.6 .6 .1 -.2 .6 .4 | .1 1.0 .0 2.4 | 1.7
| | |
1986 | 1.2 -.7 -.3 .3 .2 -.4 .5 .3 .2 .4 .5 .9 | 4.6 -.3 2.4 5.0 | 2.2
1987 | -.3 1.5 .0 .5 .7 .4 .7 .5 .5 1.6 .6 .6 | 6.0 6.7 6.9 11.2 | 5.5
1988 | -.2 .1 .3 .8 -.1 .1 .1 .1 .4 .6 .2 .4 | 2.4 4.2 1.4 4.9 | 5.2
1989 | .8 -1.0 -.1 .1 -.9 .2 -1.1 .9 -.3 -.1 .2 .2 | 1.6 -3.4 -3.0 .8 | .8
1990 | -.2 1.4 .4 -.2 .0 .3 -.2 .3 .0 -.8 -1.1 -.8 | 4.1 2.7 .6 -6.5 | .7
| | |
1991 | -.8 -.6 -.6 .3 .8 1.1 .3 .3 1.0 -.2 -.2 -.1 | -8.9 2.1 7.3 1.6 | -2.0
1992 | -.6 .9 .9 .5 .7 .2 .8 -.3 .0 .6 .4 -.2 | .8 8.0 3.8 2.7 | 3.7
1993 | 1.1 .2 -.1 .5 -.1 -.1 .3 .0 .6 .8 .5 .6 | 4.7 1.6 1.4 7.1 | 3.5
1994 | .2 .1 1.3 .8 .7 .3 .5 .7 .3 1.1 .7 1.1 | 5.1 9.5 6.1 9.8 | 6.0
1995 | .4 -.1 .2 -.1 .0 .4 -.6 1.2 .9 -.1 .0 .5 | 5.6 .4 3.1 4.6 | 5.3
| | |
1996 | -1.1 1.5 -.3 1.2 .7 1.1 .3 .6 .8 .0 .9 1.0 | .7 9.5 8.0 6.8 | 4.6
1997 | .3 1.4 .8 .1 .5 .7 .5 1.2 .9 .7 .8 .5 | 10.2 6.8 9.5 10.2 | 8.5
1998 | .8 .2 .1 .8 .3 -.5 -.2 2.2 -.4 1.0 .0 .4 | 6.3 3.9 3.6 6.6 | 6.6
1999 | .4 .7 .1 .4 .9 -.2 .4 .9 -.3 1.3 .6 .9 | 4.9 4.9 4.5 9.0 | 5.2
2000 | .0 .3 .9 .7 .4 .0 -.3 -.6 .3 -.5 -.5 -.5 | 5.2 6.7 -1.8 -3.7 | 4.6
| | |
2001 | -.9 -.6 -.4 -.2 -.5 -.7 -.3 -.4 -.5 -.5 -.2 .2 | -7.6 -4.8 -5.2 -4.0 | -4.2
2002 | .7 -.2 .4 .2 .3 .8 -.2 .1 .0 -.7 .0 -.5 | 2.8 3.4 2.2 -3.2 | -.4
2003 | .3 -.1 -.2 -.9 .1 .6 .3 -.2 1.0 .3 1.1 .0 | -.6 -3.3 3.9 6.5 | .0
2004 | .2 1.2 .1 .6 .6 -.1 .8 .4 -.4 .7 .2 | 5.6 6.0 4.1 |
| | |
IP (1997=100) | | |
1974 | 53.1 52.9 52.8 52.7 53.0 53.0 52.9 52.5 52.6 52.2 50.6 48.3 | 52.9 52.9 52.7 50.4 | 52.2
1975 | 47.4 46.0 45.4 45.3 45.3 45.7 46.4 46.8 47.6 47.8 48.0 48.6 | 46.3 45.4 47.0 48.1 | 46.7
| | |
1976 | 49.2 49.9 50.0 50.4 50.6 50.6 51.0 51.3 51.4 51.4 52.1 52.7 | 49.7 50.5 51.2 52.1 | 50.9
1977 | 52.5 53.4 54.2 54.8 55.2 55.6 55.7 56.0 56.1 56.4 56.4 57.0 | 53.4 55.2 56.0 56.6 | 55.3
1978 | 56.2 56.4 57.3 58.2 58.4 58.8 58.8 59.1 59.3 59.8 60.4 60.9 | 56.6 58.4 59.1 60.3 | 58.6
1979 | 60.3 60.6 60.9 60.0 60.7 60.8 60.8 60.0 60.2 60.4 60.2 60.4 | 60.6 60.5 60.3 60.3 | 60.4
1980 | 60.6 60.6 60.1 58.9 57.1 56.2 55.7 56.1 57.0 58.0 59.1 59.2 | 60.5 57.4 56.3 58.8 | 58.2
| | |
1981 | 59.0 58.7 58.9 59.2 59.6 59.3 59.4 59.5 59.2 58.6 57.9 57.0 | 58.9 59.3 59.4 57.8 | 58.8
1982 | 55.7 57.1 56.7 56.3 56.2 56.1 56.0 55.5 55.3 54.7 54.4 54.1 | 56.5 56.2 55.6 54.4 | 55.7
1983 | 55.4 55.3 55.9 56.5 57.3 57.7 58.6 59.0 60.2 60.9 61.0 61.2 | 55.5 57.2 59.3 61.0 | 58.3
1984 | 62.4 63.0 63.3 63.6 63.8 64.1 64.4 64.5 64.4 64.7 64.9 65.1 | 62.9 63.9 64.4 64.9 | 64.0
1985 | 64.9 64.7 65.2 65.0 65.1 65.2 64.8 65.2 65.3 65.1 65.5 65.8 | 64.9 65.1 65.1 65.5 | 65.1
| | |
1986 | 66.6 66.1 65.9 66.2 66.3 66.0 66.4 66.6 66.7 67.0 67.3 67.9 | 66.2 66.2 66.6 67.4 | 66.6
1987 | 67.7 68.7 68.7 69.1 69.6 69.8 70.3 70.6 71.0 72.1 72.6 73.0 | 68.4 69.5 70.7 72.6 | 70.3
1988 | 72.8 72.9 73.2 73.8 73.7 73.8 73.9 73.9 74.2 74.7 74.9 75.1 | 73.0 73.7 74.0 74.9 | 73.9
1989 | 75.7 75.0 74.9 75.0 74.3 74.4 73.6 74.3 74.1 74.0 74.2 74.3 | 75.2 74.6 74.0 74.2 | 74.5
1990 | 74.1 75.1 75.4 75.3 75.3 75.5 75.4 75.6 75.6 75.0 74.2 73.6 | 74.9 75.4 75.5 74.3 | 75.0
| | |
1991 | 73.0 72.6 72.1 72.3 72.8 73.6 73.8 74.0 74.8 74.6 74.5 74.4 | 72.5 72.9 74.2 74.5 | 73.6
1992 | 74.0 74.6 75.3 75.7 76.2 76.4 77.0 76.7 76.7 77.2 77.5 77.3 | 74.7 76.1 76.8 77.3 | 76.2
1993 | 78.2 78.3 78.2 78.6 78.5 78.5 78.7 78.6 79.1 79.8 80.2 80.6 | 78.2 78.5 78.8 80.2 | 78.9
1994 | 80.8 80.9 81.9 82.6 83.2 83.4 83.8 84.4 84.6 85.5 86.2 87.1 | 81.2 83.1 84.3 86.3 | 83.7
1995 | 87.5 87.4 87.5 87.4 87.4 87.8 87.2 88.3 89.1 89.0 89.1 89.5 | 87.5 87.5 88.2 89.2 | 88.1
| | |
1996 | 88.6 89.9 89.6 90.7 91.3 92.3 92.5 93.1 93.9 93.8 94.7 95.6 | 89.4 91.4 93.2 94.7 | 92.2
1997 | 95.9 97.2 98.0 98.1 98.6 99.3 99.8 101.0 101.9 102.7 103.5 104.0 | 97.0 98.7 100.9 103.4 | 100.0
1998 | 104.8 105.0 105.1 105.9 106.3 105.7 105.5 107.9 107.5 108.5 108.5 108.9 | 105.0 106.0 106.9 108.7 | 106.6
1999 | 109.4 110.2 110.3 110.7 111.7 111.5 112.0 112.9 112.6 114.1 114.9 115.9 | 110.0 111.3 112.5 115.0 | 112.2
2000 | 115.8 116.2 117.2 118.0 118.5 118.5 118.2 117.4 117.8 117.3 116.7 116.1 | 116.4 118.3 117.8 116.7 | 117.3
| | |
2001 | 115.0 114.3 113.9 113.7 113.1 112.3 112.0 111.6 111.0 110.5 110.2 110.5 | 114.4 113.0 111.5 110.4 | 112.3
2002 | 111.2 110.9 111.4 111.6 111.9 112.8 112.6 112.8 112.7 112.0 112.0 111.4 | 111.2 112.1 112.7 111.8 | 111.9
2003 | 111.8 111.6 111.5 110.4 110.5 111.1 111.5 111.3 112.4 112.7 113.9 113.9 | 111.6 110.7 111.7 113.5 | 111.9
2004 | 114.1 115.5 115.6 116.4 117.1 116.9 117.8 118.3 117.8 118.6 118.9 | 115.1 116.8 118.0 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
<1> See footnote 2 to table 3.
<2> Annual averages of industrial production are calculated from not seasonally adjusted indexes.
1Table 7B
CAPACITY AND UTILIZATION: Manufacturing <1>
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
Capacity | | |
(percent of | | |
1997 output) | | |
1974 | 61.1 61.3 61.5 61.7 61.9 62.0 62.2 62.4 62.5 62.7 62.8 62.9 | 61.3 61.9 62.4 62.8 | 62.1
1975 | 63.0 63.2 63.3 63.4 63.5 63.6 63.7 63.9 64.0 64.1 64.2 64.4 | 63.2 63.5 63.9 64.2 | 63.7
| | |
1976 | 64.5 64.6 64.8 64.9 65.1 65.2 65.4 65.5 65.7 65.8 66.0 66.1 | 64.6 65.1 65.5 66.0 | 65.3
1977 | 66.3 66.4 66.6 66.8 66.9 67.1 67.3 67.5 67.7 67.8 68.0 68.2 | 66.4 66.9 67.5 68.0 | 67.2
1978 | 68.4 68.6 68.8 69.0 69.2 69.4 69.6 69.8 70.0 70.1 70.3 70.5 | 68.6 69.2 69.8 70.3 | 69.5
1979 | 70.7 70.9 71.1 71.3 71.5 71.7 71.9 72.1 72.3 72.5 72.6 72.8 | 70.9 71.5 72.1 72.6 | 71.8
1980 | 73.0 73.2 73.3 73.5 73.7 73.8 74.0 74.2 74.4 74.6 74.8 75.0 | 73.2 73.7 74.2 74.8 | 74.0
| | |
1981 | 75.2 75.4 75.6 75.8 76.0 76.2 76.4 76.5 76.7 76.9 77.1 77.3 | 75.4 76.0 76.5 77.1 | 76.2
1982 | 77.4 77.6 77.8 77.9 78.1 78.2 78.4 78.5 78.6 78.7 78.8 78.9 | 77.6 78.1 78.5 78.8 | 78.3
1983 | 79.0 79.0 79.1 79.1 79.2 79.2 79.3 79.3 79.4 79.5 79.6 79.7 | 79.0 79.2 79.3 79.6 | 79.3
1984 | 79.8 79.9 80.0 80.2 80.3 80.5 80.7 80.9 81.1 81.3 81.5 81.7 | 79.9 80.3 80.9 81.5 | 80.6
1985 | 81.9 82.1 82.3 82.6 82.8 83.0 83.1 83.3 83.5 83.6 83.8 83.9 | 82.1 82.8 83.3 83.8 | 83.0
| | |
1986 | 84.0 84.2 84.3 84.4 84.5 84.6 84.7 84.9 85.0 85.1 85.3 85.5 | 84.2 84.5 84.9 85.3 | 84.7
1987 | 85.6 85.8 86.0 86.2 86.4 86.5 86.7 86.9 87.0 87.1 87.2 87.3 | 85.8 86.4 86.9 87.2 | 86.6
1988 | 87.4 87.5 87.6 87.6 87.7 87.8 87.8 87.9 88.0 88.1 88.2 88.3 | 87.5 87.7 87.9 88.2 | 87.8
1989 | 88.5 88.6 88.8 89.0 89.2 89.4 89.6 89.8 90.1 90.3 90.5 90.7 | 88.7 89.2 89.8 90.5 | 89.5
1990 | 90.9 91.1 91.3 91.5 91.7 91.9 92.1 92.3 92.5 92.6 92.8 93.0 | 91.1 91.7 92.3 92.8 | 92.0
| | |
1991 | 93.1 93.2 93.4 93.5 93.7 93.8 93.9 94.1 94.2 94.4 94.5 94.7 | 93.2 93.7 94.1 94.5 | 93.9
1992 | 94.8 95.0 95.2 95.4 95.6 95.9 96.1 96.3 96.5 96.7 97.0 97.2 | 95.0 95.6 96.3 97.0 | 96.0
1993 | 97.4 97.5 97.7 97.9 98.1 98.2 98.4 98.6 98.8 99.0 99.2 99.4 | 97.5 98.1 98.6 99.2 | 98.3
1994 | 99.6 99.9 100.2 100.4 100.7 101.1 101.4 101.8 102.1 102.5 102.9 103.3 | 99.9 100.7 101.8 102.9 | 101.3
1995 | 103.7 104.2 104.7 105.1 105.6 106.1 106.7 107.2 107.7 108.3 108.9 109.4 | 104.2 105.6 107.2 108.9 | 106.5
| | |
1996 | 110.0 110.6 111.2 111.8 112.4 113.0 113.5 114.1 114.7 115.2 115.8 116.4 | 110.6 112.4 114.1 115.8 | 113.2
1997 | 117.0 117.6 118.3 118.9 119.6 120.3 121.0 121.8 122.6 123.4 124.2 125.1 | 117.6 119.6 121.8 124.2 | 120.8
1998 | 125.9 126.8 127.7 128.5 129.4 130.2 130.9 131.7 132.4 133.1 133.7 134.4 | 126.8 129.3 131.7 133.7 | 130.4
1999 | 135.0 135.6 136.3 136.9 137.5 138.1 138.6 139.2 139.9 140.5 141.1 141.7 | 135.6 137.5 139.3 141.1 | 138.4
2000 | 142.4 143.0 143.6 144.2 144.9 145.5 146.0 146.6 147.1 147.7 148.2 148.6 | 143.0 144.8 146.6 148.2 | 145.6
| | |
2001 | 149.1 149.5 149.9 150.3 150.6 150.9 151.2 151.4 151.6 151.8 152.0 152.1 | 149.5 150.6 151.4 152.0 | 150.9
2002 | 152.2 152.3 152.3 152.3 152.3 152.3 152.3 152.2 152.2 152.1 152.0 152.0 | 152.3 152.3 152.2 152.0 | 152.2
2003 | 151.9 151.8 151.8 151.7 151.7 151.6 151.6 151.7 151.7 151.8 151.9 152.0 | 151.8 151.7 151.7 151.9 | 151.8
2004 | 152.1 152.2 152.3 152.5 152.6 152.8 153.0 153.1 153.3 153.4 153.6 | 152.2 152.6 153.1 |
| | |
Utilization | | |
(percent) | | |
1974 | 86.8 86.2 85.8 85.4 85.6 85.4 85.1 84.2 84.1 83.3 80.6 76.8 | 86.3 85.5 84.5 80.2 | 84.1
1975 | 75.2 72.8 71.7 71.4 71.4 71.8 72.8 73.4 74.4 74.6 74.7 75.5 | 73.2 71.5 73.5 74.9 | 73.3
| | |
1976 | 76.3 77.2 77.1 77.6 77.8 77.6 78.0 78.3 78.3 78.2 79.0 79.6 | 76.9 77.6 78.2 78.9 | 77.9
1977 | 79.2 80.4 81.4 82.0 82.5 82.9 82.8 83.1 83.0 83.1 83.0 83.6 | 80.3 82.5 83.0 83.2 | 82.2
1978 | 82.1 82.2 83.3 84.3 84.4 84.8 84.5 84.7 84.8 85.2 85.8 86.3 | 82.5 84.5 84.7 85.8 | 84.4
1979 | 85.3 85.4 85.6 84.1 84.8 84.7 84.6 83.3 83.3 83.3 82.9 83.0 | 85.4 84.6 83.7 83.1 | 84.2
1980 | 83.1 82.9 82.0 80.1 77.5 76.1 75.3 75.6 76.6 77.8 79.0 79.0 | 82.6 77.9 75.8 78.6 | 78.8
| | |
1981 | 78.5 77.9 77.9 78.1 78.4 77.8 77.8 77.7 77.1 76.2 75.1 73.7 | 78.1 78.1 77.5 75.0 | 77.2
1982 | 71.9 73.6 72.9 72.3 72.0 71.7 71.4 70.7 70.4 69.5 68.9 68.5 | 72.8 72.0 70.9 69.0 | 71.2
1983 | 70.1 70.0 70.6 71.4 72.3 72.8 73.9 74.4 75.8 76.6 76.7 76.8 | 70.3 72.2 74.7 76.7 | 73.5
1984 | 78.2 78.9 79.2 79.4 79.4 79.6 79.8 79.8 79.4 79.6 79.6 79.7 | 78.8 79.5 79.7 79.6 | 79.4
1985 | 79.2 78.7 79.2 78.7 78.6 78.6 77.9 78.3 78.2 77.8 78.2 78.4 | 79.0 78.6 78.1 78.1 | 78.5
| | |
1986 | 79.2 78.5 78.2 78.4 78.4 78.1 78.4 78.4 78.5 78.6 78.9 79.4 | 78.7 78.3 78.4 79.0 | 78.6
1987 | 79.1 80.0 79.9 80.1 80.6 80.7 81.1 81.3 81.6 82.8 83.2 83.5 | 79.7 80.5 81.3 83.2 | 81.2
1988 | 83.3 83.4 83.6 84.2 84.0 84.1 84.1 84.1 84.3 84.8 84.9 85.1 | 83.4 84.1 84.2 84.9 | 84.1
1989 | 85.6 84.6 84.3 84.2 83.3 83.2 82.1 82.7 82.3 82.0 81.9 81.9 | 84.8 83.6 82.4 81.9 | 83.2
1990 | 81.5 82.5 82.6 82.3 82.1 82.2 81.8 81.9 81.7 81.0 79.9 79.2 | 82.2 82.2 81.8 80.0 | 81.6
| | |
1991 | 78.4 77.8 77.2 77.3 77.8 78.5 78.6 78.7 79.4 79.1 78.8 78.6 | 77.8 77.9 78.9 78.8 | 78.3
1992 | 78.1 78.6 79.1 79.3 79.7 79.7 80.2 79.7 79.5 79.8 79.9 79.6 | 78.6 79.6 79.8 79.8 | 79.4
1993 | 80.3 80.3 80.0 80.3 80.1 79.9 79.9 79.8 80.1 80.6 80.8 81.1 | 80.2 80.1 79.9 80.8 | 80.3
1994 | 81.1 81.0 81.8 82.2 82.6 82.5 82.7 83.0 82.9 83.4 83.7 84.3 | 81.3 82.4 82.8 83.8 | 82.6
1995 | 84.3 83.9 83.6 83.2 82.8 82.7 81.8 82.4 82.7 82.2 81.8 81.8 | 83.9 82.9 82.3 82.0 | 82.8
| | |
1996 | 80.5 81.3 80.6 81.1 81.2 81.7 81.5 81.6 81.8 81.4 81.8 82.1 | 80.8 81.3 81.7 81.8 | 81.4
1997 | 81.9 82.7 82.9 82.5 82.4 82.6 82.5 83.0 83.2 83.2 83.3 83.2 | 82.5 82.5 82.9 83.2 | 82.8
1998 | 83.3 82.8 82.3 82.4 82.2 81.2 80.6 81.9 81.2 81.6 81.1 81.1 | 82.8 81.9 81.2 81.3 | 81.8
1999 | 81.0 81.2 80.9 80.9 81.2 80.7 80.8 81.1 80.5 81.2 81.4 81.8 | 81.1 81.0 80.8 81.5 | 81.1
2000 | 81.4 81.3 81.6 81.8 81.8 81.5 80.9 80.1 80.1 79.4 78.8 78.1 | 81.4 81.7 80.4 78.8 | 80.6
| | |
2001 | 77.1 76.5 76.0 75.6 75.1 74.4 74.1 73.7 73.2 72.8 72.5 72.6 | 76.5 75.0 73.7 72.6 | 74.5
2002 | 73.0 72.9 73.1 73.2 73.5 74.1 73.9 74.1 74.1 73.6 73.7 73.3 | 73.0 73.6 74.0 73.5 | 73.5
2003 | 73.6 73.5 73.4 72.8 72.8 73.3 73.5 73.4 74.1 74.3 75.0 75.0 | 73.5 73.0 73.7 74.8 | 73.7
2004 | 75.1 75.9 75.9 76.3 76.7 76.5 77.0 77.2 76.9 77.3 77.4 | 75.6 76.5 77.0 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
<1> See footnote 2 to table 3.
1Table 8A
INDUSTRIAL PRODUCTION: Total Industry Excluding Selected High-Technology Industries <1>
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <2>
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) | | |
1974 | -.8 -.4 -.1 -.1 .6 -.1 .1 -.7 -.1 -.3 -3.3 -3.6 | -4.7 .2 -1.5 -15.2 | -.9
1975 | -1.2 -2.4 -1.0 .0 -.1 .7 1.1 .9 1.3 .3 .2 1.2 | -23.7 -5.1 10.8 8.4 | -8.8
| | |
1976 | 1.4 .9 .0 .7 .3 -.1 .5 .7 .1 .0 1.5 1.0 | 12.1 4.5 4.2 6.9 | 7.3
1977 | -.6 1.4 1.2 .8 .7 .6 .3 .0 .4 .3 .0 .1 | 7.9 11.6 4.2 2.4 | 6.9
1978 | -1.5 .4 1.8 2.0 .3 .6 -.1 .3 .2 .8 .6 .6 | -2.2 15.9 2.7 6.8 | 4.7
1979 | -.8 .5 .2 -1.0 .7 -.2 -.3 -.8 .0 .5 -.2 .1 | .7 -1.3 -2.7 .3 | 2.1
1980 | .4 .0 -.4 -2.1 -2.6 -1.3 -.7 .2 1.7 1.2 1.7 .5 | .6 -16.9 -6.8 15.7 | -3.6
| | |
1981 | -.7 -.5 .5 -.6 .6 .5 .7 -.1 -.7 -.8 -1.1 -1.2 | .1 .5 3.5 -9.6 | .6
1982 | -1.9 1.8 -.8 -.9 -.8 -.5 -.5 -.8 -.5 -.9 -.5 -1.0 | -8.4 -5.8 -6.7 -8.2 | -6.0
1983 | 1.9 -.7 .8 1.2 .7 .5 1.5 1.2 1.3 .8 .2 .5 | 3.7 8.5 13.8 9.6 | 1.8
1984 | 2.0 .3 .4 .5 .4 .2 .2 .0 -.2 -.2 .4 .1 | 11.4 4.8 1.6 -.2 | 7.9
1985 | -.3 .5 .1 .0 .1 .0 -.6 .4 .5 -.4 .3 1.1 | .9 1.0 -.3 2.7 | 1.0
| | |
1986 | .6 -.8 -.7 .0 .1 -.2 .3 -.3 .2 .4 .4 .8 | 2.5 -2.9 .6 4.0 | .9
1987 | -.4 1.2 .1 .5 .6 .4 .5 .6 .1 1.4 .5 .4 | 4.5 6.3 6.0 9.0 | 4.2
1988 | .0 .4 .2 .4 -.1 .2 .1 .5 -.4 .5 .2 .4 | 3.2 2.7 1.5 2.9 | 4.4
1989 | .3 -.5 .4 -.1 -.7 .0 -1.1 .9 -.3 -.1 .2 .7 | 1.7 -2.1 -3.3 1.3 | .6
1990 | -.7 .8 .4 -.1 .1 .3 -.2 .3 .2 -.8 -1.3 -.7 | 2.0 2.4 .9 -6.5 | .3
| | |
1991 | -.4 -.8 -.6 .2 1.0 1.0 .0 .1 .9 -.2 -.2 -.5 | -8.0 2.1 5.4 .3 | -2.0
1992 | -.8 .7 .7 .6 .3 -.2 .7 -.5 .1 .6 .3 .0 | -1.8 6.1 1.6 2.9 | 1.9
1993 | .5 .3 .0 .3 -.4 .2 .3 .0 .3 .6 .4 .4 | 3.1 .6 1.4 5.1 | 2.5
1994 | .4 .0 .8 .3 .5 .6 .0 .3 .0 .7 .4 .9 | 4.2 5.5 3.2 5.7 | 4.0
1995 | .1 -.2 -.2 -.2 .0 .2 -.6 1.2 .1 -.5 .0 .4 | 2.8 -1.4 1.4 .5 | 2.4
| | |
1996 | -1.1 1.3 -.4 .8 .4 .7 -.4 .4 .5 -.2 .8 .5 | -.5 6.0 2.5 3.8 | 1.7
1997 | .0 .8 .2 .0 .1 .3 .4 .7 .7 .7 .4 .1 | 4.9 2.0 5.8 7.1 | 4.2
1998 | .2 .0 .1 .5 .3 -.8 -.6 1.7 -.5 .7 -.5 -.1 | 1.8 2.1 -.2 2.3 | 3.1
1999 | .2 .1 .1 -.1 .5 -.3 .3 .5 -.5 1.0 .2 .7 | .3 .7 1.6 4.9 | 1.2
2000 | -.6 .1 .3 .3 .3 -.1 -.7 -.4 .2 -.6 -.3 -.3 | .5 2.8 -3.5 -3.6 | 1.1
| | |
2001 | -1.0 -.6 -.3 -.1 -.4 -.5 -.3 .0 -.5 -.4 -.5 .0 | -6.9 -3.5 -3.7 -4.4 | -4.1
2002 | .8 -.2 .6 .4 .2 .7 -.2 -.2 -.1 -.5 -.1 -.5 | 2.6 4.2 .9 -3.4 | -.2
2003 | .1 .0 -.5 -1.0 .0 .2 .6 -.2 .7 .1 1.0 .2 | -1.8 -5.1 3.3 5.1 | -1.0
2004 | .2 1.0 -.4 .5 .6 -.4 .7 .0 -.2 .8 .1 | 4.9 3.3 2.2 |
| | |
IP (1997=100) | | |
1974 | 70.0 69.7 69.7 69.6 70.0 69.9 69.9 69.4 69.3 69.1 66.8 64.4 | 69.8 69.8 69.6 66.7 | 69.0
1975 | 63.6 62.1 61.4 61.5 61.4 61.8 62.5 63.1 63.9 64.1 64.2 65.0 | 62.4 61.6 63.2 64.4 | 62.9
| | |
1976 | 65.9 66.5 66.5 66.9 67.1 67.1 67.4 67.9 67.9 68.0 69.0 69.7 | 66.3 67.1 67.7 68.9 | 67.5
1977 | 69.3 70.2 71.1 71.7 72.2 72.6 72.8 72.8 73.1 73.3 73.3 73.4 | 70.2 72.2 72.9 73.3 | 72.2
1978 | 72.3 72.6 73.9 75.4 75.6 76.1 76.0 76.2 76.4 77.0 77.5 77.9 | 72.9 75.7 76.2 77.5 | 75.6
1979 | 77.3 77.7 77.8 77.0 77.5 77.4 77.2 76.6 76.6 77.0 76.8 76.8 | 77.6 77.3 76.8 76.8 | 77.1
1980 | 77.1 77.1 76.7 75.1 73.1 72.2 71.7 71.8 73.1 73.9 75.2 75.6 | 77.0 73.5 72.2 74.9 | 74.4
| | |
1981 | 75.1 74.6 75.0 74.6 75.0 75.4 75.9 75.8 75.2 74.6 73.8 72.9 | 74.9 75.0 75.7 73.8 | 74.8
1982 | 71.5 72.8 72.2 71.6 71.0 70.7 70.3 69.8 69.5 68.8 68.5 67.8 | 72.2 71.1 69.9 68.4 | 70.4
1983 | 69.2 68.7 69.2 70.0 70.5 70.8 71.8 72.7 73.7 74.2 74.4 74.7 | 69.0 70.4 72.8 74.4 | 71.7
1984 | 76.2 76.5 76.8 77.1 77.4 77.6 77.8 77.8 77.6 77.4 77.7 77.8 | 76.5 77.4 77.7 77.7 | 77.3
1985 | 77.5 77.9 78.0 78.0 78.0 78.0 77.6 78.0 78.4 78.1 78.3 79.1 | 77.8 78.0 78.0 78.5 | 78.1
| | |
1986 | 79.6 78.9 78.4 78.4 78.5 78.3 78.6 78.4 78.5 78.9 79.2 79.8 | 79.0 78.4 78.5 79.3 | 78.8
1987 | 79.5 80.5 80.6 81.0 81.5 81.8 82.2 82.7 82.8 84.0 84.4 84.7 | 80.2 81.4 82.6 84.4 | 82.1
1988 | 84.8 85.1 85.3 85.6 85.5 85.7 85.8 86.2 85.9 86.3 86.5 86.9 | 85.0 85.6 85.9 86.6 | 85.8
1989 | 87.1 86.7 87.0 86.9 86.3 86.3 85.3 86.1 85.8 85.7 85.9 86.5 | 86.9 86.5 85.7 86.0 | 86.3
1990 | 85.8 86.6 86.9 86.8 86.9 87.1 87.0 87.2 87.3 86.7 85.5 84.9 | 86.4 86.9 87.2 85.7 | 86.6
| | |
1991 | 84.5 83.9 83.4 83.5 84.4 85.2 85.2 85.2 86.0 85.8 85.6 85.2 | 83.9 84.4 85.5 85.5 | 84.8
1992 | 84.6 85.1 85.8 86.3 86.6 86.4 87.0 86.6 86.7 87.2 87.5 87.5 | 85.2 86.4 86.8 87.4 | 86.4
1993 | 87.9 88.1 88.1 88.4 88.0 88.2 88.4 88.4 88.7 89.2 89.6 90.0 | 88.0 88.2 88.5 89.6 | 88.6
1994 | 90.3 90.3 91.0 91.3 91.7 92.2 92.3 92.6 92.6 93.2 93.6 94.5 | 90.5 91.8 92.5 93.8 | 92.1
1995 | 94.6 94.4 94.3 94.0 94.0 94.2 93.7 94.7 94.9 94.4 94.4 94.8 | 94.4 94.1 94.4 94.5 | 94.4
| | |
1996 | 93.7 95.0 94.6 95.3 95.7 96.4 96.0 96.4 96.8 96.7 97.4 97.9 | 94.4 95.8 96.4 97.3 | 96.0
1997 | 97.9 98.7 98.9 98.8 98.9 99.2 99.7 100.4 101.1 101.8 102.2 102.3 | 98.5 99.0 100.4 102.1 | 100.0
1998 | 102.6 102.5 102.6 103.1 103.5 102.7 102.1 103.8 103.2 104.0 103.5 103.4 | 102.6 103.1 103.0 103.6 | 103.1
1999 | 103.6 103.7 103.8 103.7 104.2 103.8 104.1 104.6 104.1 105.1 105.4 106.1 | 103.7 103.9 104.3 105.5 | 104.4
2000 | 105.5 105.6 105.9 106.3 106.6 106.5 105.7 105.3 105.5 104.8 104.5 104.2 | 105.7 106.4 105.5 104.5 | 105.5
| | |
2001 | 103.2 102.6 102.3 102.2 101.8 101.3 101.0 101.0 100.5 100.1 99.5 99.5 | 102.7 101.8 100.8 99.7 | 101.2
2002 | 100.3 100.1 100.7 101.0 101.2 101.9 101.8 101.6 101.5 101.0 100.9 100.4 | 100.3 101.4 101.6 100.7 | 101.0
2003 | 100.5 100.4 99.9 98.9 98.9 99.1 99.7 99.5 100.2 100.3 101.3 101.5 | 100.3 99.0 99.8 101.0 | 100.0
2004 | 101.7 102.7 102.3 102.8 103.4 103.0 103.7 103.7 103.5 104.3 104.5 | 102.2 103.1 103.6 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
<1> High technology industries include computers, communications equipment, and semiconductors and related electronic components.
<2> Annual averages of industrial production are calculated from not seasonally adjusted indexes.
1Table 8B
CAPACITY AND UTILIZATION: Total Industry Excluding Selected High-Technology Industries <1>
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
Capacity | | |
(percent of | | |
1997 output) | | |
1974 | 80.1 80.3 80.5 80.7 80.9 81.1 81.3 81.5 81.6 81.8 82.0 82.1 | 80.3 80.9 81.5 82.0 | 81.2
1975 | 82.2 82.4 82.5 82.6 82.7 82.9 83.0 83.1 83.2 83.3 83.5 83.6 | 82.4 82.7 83.1 83.5 | 82.9
| | |
1976 | 83.7 83.9 84.0 84.1 84.3 84.4 84.6 84.7 84.8 85.0 85.1 85.3 | 83.9 84.3 84.7 85.1 | 84.5
1977 | 85.4 85.6 85.8 86.0 86.1 86.3 86.5 86.7 86.9 87.1 87.3 87.5 | 85.6 86.1 86.7 87.3 | 86.4
1978 | 87.8 88.0 88.2 88.4 88.6 88.8 89.0 89.1 89.3 89.5 89.7 89.8 | 88.0 88.6 89.1 89.7 | 88.8
1979 | 90.0 90.1 90.3 90.4 90.6 90.7 90.9 91.0 91.1 91.3 91.4 91.5 | 90.1 90.6 91.0 91.4 | 90.8
1980 | 91.6 91.7 91.9 92.0 92.1 92.2 92.3 92.5 92.6 92.7 92.8 93.0 | 91.7 92.1 92.5 92.8 | 92.3
| | |
1981 | 93.1 93.2 93.4 93.5 93.7 93.8 94.0 94.2 94.3 94.5 94.6 94.8 | 93.2 93.7 94.2 94.6 | 93.9
1982 | 95.0 95.1 95.3 95.4 95.5 95.6 95.7 95.8 95.9 96.0 96.0 96.1 | 95.1 95.5 95.8 96.0 | 95.6
1983 | 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.1 96.2 | 96.1 96.1 96.1 96.1 | 96.1
1984 | 96.2 96.2 96.3 96.3 96.4 96.5 96.6 96.7 96.8 96.9 97.0 97.2 | 96.2 96.4 96.7 97.0 | 96.6
1985 | 97.3 97.5 97.6 97.8 97.9 98.1 98.2 98.4 98.5 98.7 98.8 99.0 | 97.5 97.9 98.4 98.8 | 98.1
| | |
1986 | 99.1 99.2 99.3 99.4 99.5 99.6 99.7 99.8 99.8 99.9 100.0 100.1 | 99.2 99.5 99.8 100.0 | 99.6
1987 | 100.2 100.3 100.4 100.5 100.6 100.7 100.8 100.8 100.9 101.0 101.0 101.1 | 100.3 100.6 100.8 101.0 | 100.7
1988 | 101.1 101.2 101.2 101.3 101.3 101.3 101.4 101.4 101.5 101.6 101.7 101.8 | 101.2 101.3 101.4 101.7 | 101.4
1989 | 101.9 102.0 102.1 102.3 102.4 102.6 102.8 102.9 103.1 103.3 103.5 103.6 | 102.0 102.4 102.9 103.5 | 102.7
1990 | 103.8 103.9 104.1 104.3 104.4 104.6 104.7 104.9 105.0 105.2 105.3 105.4 | 103.9 104.4 104.9 105.3 | 104.6
| | |
1991 | 105.6 105.7 105.8 105.9 106.1 106.2 106.3 106.4 106.5 106.6 106.8 106.9 | 105.7 106.1 106.4 106.8 | 106.2
1992 | 107.0 107.1 107.2 107.3 107.4 107.5 107.6 107.7 107.8 107.9 108.0 108.2 | 107.1 107.4 107.7 108.0 | 107.5
1993 | 108.3 108.4 108.5 108.6 108.7 108.8 108.9 109.0 109.1 109.3 109.4 109.5 | 108.4 108.7 109.0 109.4 | 108.9
1994 | 109.6 109.7 109.8 110.0 110.1 110.2 110.4 110.6 110.8 111.0 111.2 111.4 | 109.7 110.1 110.6 111.2 | 110.4
1995 | 111.6 111.8 112.1 112.3 112.6 112.8 113.1 113.4 113.6 113.9 114.1 114.3 | 111.8 112.6 113.4 114.1 | 113.0
| | |
1996 | 114.6 114.8 115.0 115.3 115.5 115.7 116.0 116.2 116.5 116.7 117.0 117.3 | 114.8 115.5 116.2 117.0 | 115.9
1997 | 117.6 117.9 118.3 118.6 119.0 119.4 119.8 120.2 120.6 121.0 121.4 121.8 | 117.9 119.0 120.2 121.4 | 119.6
1998 | 122.2 122.5 122.9 123.3 123.6 123.9 124.3 124.6 124.9 125.2 125.5 125.7 | 122.5 123.6 124.6 125.4 | 124.0
1999 | 126.0 126.3 126.6 126.8 127.1 127.3 127.6 127.8 128.0 128.3 128.5 128.7 | 126.3 127.1 127.8 128.5 | 127.4
2000 | 128.8 129.0 129.2 129.4 129.5 129.6 129.8 129.9 130.0 130.2 130.3 130.4 | 129.0 129.5 129.9 130.3 | 129.7
| | |
2001 | 130.5 130.6 130.7 130.8 130.9 131.0 131.2 131.3 131.4 131.5 131.6 131.7 | 130.6 130.9 131.3 131.6 | 131.1
2002 | 131.8 131.9 131.9 132.0 132.0 132.0 132.0 132.0 132.0 131.9 131.8 131.7 | 131.9 132.0 132.0 131.8 | 131.9
2003 | 131.6 131.5 131.5 131.4 131.3 131.2 131.1 131.1 131.1 131.0 131.0 131.0 | 131.5 131.3 131.1 131.0 | 131.2
2004 | 131.1 131.1 131.1 131.2 131.2 131.2 131.3 131.3 131.3 131.4 131.4 | 131.1 131.2 131.3 |
| | |
Utilization | | |
(percent) | | |
1974 | 87.4 86.8 86.5 86.2 86.5 86.1 86.0 85.2 84.9 84.4 81.5 78.4 | 86.9 86.3 85.4 81.5 | 85.0
1975 | 77.3 75.4 74.5 74.4 74.2 74.6 75.3 75.9 76.8 76.9 77.0 77.8 | 75.7 74.4 76.0 77.2 | 75.8
| | |
1976 | 78.8 79.3 79.2 79.6 79.7 79.5 79.7 80.1 80.1 80.0 81.0 81.7 | 79.1 79.6 80.0 80.9 | 79.9
1977 | 81.1 82.0 82.9 83.4 83.8 84.1 84.2 84.0 84.1 84.2 84.0 83.8 | 82.0 83.8 84.1 84.0 | 83.5
1978 | 82.4 82.5 83.9 85.3 85.4 85.7 85.4 85.5 85.5 86.0 86.4 86.7 | 82.9 85.5 85.5 86.4 | 85.1
1979 | 85.8 86.1 86.2 85.2 85.6 85.3 85.0 84.1 84.1 84.3 84.0 84.0 | 86.1 85.4 84.4 84.1 | 85.0
1980 | 84.1 84.0 83.5 81.7 79.4 78.3 77.7 77.7 78.9 79.7 81.0 81.3 | 83.9 79.8 78.1 80.7 | 80.6
| | |
1981 | 80.6 80.1 80.3 79.7 80.1 80.4 80.8 80.5 79.8 79.0 78.0 76.9 | 80.3 80.1 80.4 77.9 | 79.7
1982 | 75.3 76.5 75.8 75.0 74.3 73.9 73.5 72.8 72.4 71.7 71.3 70.6 | 75.9 74.4 72.9 71.2 | 73.6
1983 | 72.0 71.4 72.0 72.8 73.3 73.7 74.8 75.7 76.7 77.2 77.4 77.7 | 71.8 73.3 75.7 77.4 | 74.6
1984 | 79.3 79.5 79.7 80.1 80.3 80.4 80.5 80.4 80.1 79.9 80.1 80.1 | 79.5 80.3 80.4 80.0 | 80.0
1985 | 79.7 80.0 79.9 79.8 79.7 79.6 79.0 79.2 79.5 79.1 79.2 80.0 | 79.9 79.7 79.2 79.4 | 79.6
| | |
1986 | 80.3 79.6 78.9 78.8 78.9 78.7 78.9 78.6 78.6 78.9 79.2 79.7 | 79.6 78.8 78.7 79.3 | 79.1
1987 | 79.3 80.2 80.2 80.6 81.0 81.2 81.6 82.0 82.1 83.2 83.5 83.8 | 79.9 80.9 81.9 83.5 | 81.6
1988 | 83.8 84.1 84.2 84.6 84.4 84.5 84.6 85.0 84.6 85.0 85.1 85.4 | 84.1 84.5 84.7 85.1 | 84.6
1989 | 85.5 85.0 85.2 84.9 84.2 84.1 83.0 83.6 83.2 83.0 83.0 83.4 | 85.2 84.4 83.3 83.1 | 84.0
1990 | 82.7 83.3 83.5 83.3 83.2 83.3 83.0 83.1 83.1 82.4 81.2 80.5 | 83.2 83.3 83.1 81.4 | 82.7
| | |
1991 | 80.1 79.4 78.8 78.9 79.5 80.2 80.1 80.1 80.7 80.5 80.2 79.7 | 79.4 79.5 80.3 80.1 | 79.9
1992 | 79.0 79.5 80.0 80.4 80.6 80.4 80.9 80.4 80.4 80.8 81.0 80.9 | 79.5 80.5 80.6 80.9 | 80.4
1993 | 81.2 81.3 81.2 81.4 80.9 81.0 81.2 81.1 81.2 81.7 81.9 82.2 | 81.2 81.1 81.2 81.9 | 81.4
1994 | 82.4 82.3 82.9 83.0 83.3 83.7 83.6 83.7 83.6 84.0 84.2 84.8 | 82.5 83.3 83.6 84.3 | 83.5
1995 | 84.7 84.4 84.1 83.7 83.5 83.5 82.8 83.6 83.5 82.9 82.8 82.9 | 84.4 83.6 83.3 82.9 | 83.5
| | |
1996 | 81.8 82.7 82.2 82.7 82.9 83.3 82.8 83.0 83.2 82.8 83.2 83.4 | 82.2 83.0 83.0 83.2 | 82.8
1997 | 83.2 83.7 83.6 83.3 83.1 83.1 83.2 83.5 83.9 84.2 84.2 84.0 | 83.5 83.2 83.5 84.1 | 83.6
1998 | 83.9 83.7 83.5 83.7 83.7 82.8 82.1 83.3 82.7 83.1 82.5 82.3 | 83.7 83.4 82.7 82.6 | 83.1
1999 | 82.2 82.1 82.0 81.7 82.0 81.5 81.6 81.9 81.3 82.0 82.0 82.5 | 82.1 81.7 81.6 82.2 | 81.9
2000 | 81.9 81.8 82.0 82.2 82.3 82.1 81.5 81.0 81.1 80.6 80.3 79.9 | 81.9 82.2 81.2 80.2 | 81.4
| | |
2001 | 79.1 78.5 78.2 78.1 77.8 77.3 77.0 76.9 76.5 76.1 75.6 75.6 | 78.6 77.7 76.8 75.8 | 77.2
2002 | 76.1 75.9 76.3 76.5 76.7 77.2 77.1 77.0 76.9 76.5 76.5 76.2 | 76.1 76.8 77.0 76.4 | 76.6
2003 | 76.3 76.4 76.0 75.3 75.3 75.6 76.0 75.9 76.4 76.5 77.3 77.5 | 76.2 75.4 76.1 77.1 | 76.2
2004 | 77.6 78.3 78.0 78.4 78.8 78.5 79.0 79.0 78.8 79.4 79.5 | 78.0 78.6 78.9 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
<1> High technology industries include computers, communications equipment, and semiconductors and related electronic components.
1Table 9A
INDUSTRIAL PRODUCTION: Manufacturing <1> Excluding Selected High-Technology Industries <2>
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4|Annual <3>
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) | | |
1974 | -1.0 -.5 -.2 -.2 .5 .0 -.1 -.5 -.2 -.7 -3.0 -4.6 | -4.6 -.7 -1.3 -16.8 | -1.0
1975 | -1.9 -2.9 -1.3 -.2 .1 .9 1.5 .9 1.7 .4 .2 1.3 | -28.7 -6.5 14.3 10.0 | -10.5
| | |
1976 | 1.3 1.3 .1 .8 .3 -.1 .7 .6 .0 .0 1.3 1.0 | 13.1 5.9 4.7 5.6 | 8.4
1977 | -.3 1.6 1.4 .9 .7 .7 .1 .5 .1 .3 .1 1.0 | 9.9 13.3 4.7 3.7 | 7.8
1978 | -1.6 .3 1.7 1.5 .3 .6 -.1 .4 .4 .7 .8 .8 | -.7 12.9 3.2 7.9 | 5.1
1979 | -1.1 .4 .4 -1.5 1.1 -.1 .0 -1.5 .2 .2 -.4 .3 | .4 -1.8 -2.4 -1.5 | 1.9
1980 | .3 -.2 -.9 -2.2 -3.2 -1.6 -1.0 .6 1.7 1.7 1.8 .2 | -.4 -20.1 -8.4 18.7 | -4.9
| | |
1981 | -.5 -.7 .3 .4 .5 -.6 .2 .0 -.7 -1.2 -1.2 -1.8 | -.4 2.1 -1.0 -11.5 | .1
1982 | -2.4 2.5 -.8 -.7 -.3 -.3 -.3 -.7 -.5 -1.2 -.8 -.6 | -10.1 -3.0 -4.9 -9.6 | -6.5
1983 | 2.5 -.2 .9 1.1 1.3 .7 1.3 .9 1.6 1.1 .2 .2 | 8.0 11.3 14.3 10.9 | 3.6
1984 | 1.8 .9 .4 .3 .1 .3 .4 .0 -.3 .4 .3 .3 | 11.5 4.3 2.1 1.9 | 8.4
1985 | -.5 -.2 .8 -.2 .1 .1 -.4 .6 .2 -.3 .6 .4 | -.2 1.8 .5 2.5 | 1.4
| | |
1986 | 1.3 -.7 -.3 .3 .1 -.2 .2 .2 .2 .3 .4 .8 | 4.8 -.5 1.2 4.3 | 2.2
1987 | -.4 1.4 .0 .4 .7 .3 .6 .3 .4 1.5 .6 .5 | 4.9 5.8 5.5 10.3 | 4.6
1988 | -.2 .2 .3 .7 -.2 .0 .0 .1 .3 .6 .3 .4 | 2.1 3.5 .6 4.6 | 4.5
1989 | .8 -1.1 .0 .0 -.9 .1 -1.3 .9 -.3 -.2 .1 .1 | 2.0 -3.7 -4.0 -.1 | .4
1990 | -.3 1.4 .3 -.2 .0 .2 -.2 .3 -.1 -.8 -1.2 -.8 | 3.3 2.1 .2 -7.2 | .0
| | |
1991 | -.8 -.8 -.8 .3 .7 1.1 .3 .2 1.1 -.2 -.3 -.3 | -9.6 1.4 7.0 .9 | -2.6
1992 | -.8 .8 .9 .4 .6 .1 .7 -.4 -.1 .4 .3 -.3 | -1.0 6.9 2.5 1.4 | 2.5
1993 | 1.1 .1 -.2 .5 -.1 -.2 .2 -.2 .5 .7 .4 .5 | 3.9 1.0 .4 5.7 | 2.6
1994 | .1 .1 1.1 .6 .6 .1 .3 .5 .0 .8 .5 .9 | 3.9 7.2 3.8 7.0 | 4.4
1995 | .1 -.3 -.1 -.4 -.2 .3 -.8 1.0 .6 -.4 -.2 .3 | 2.7 -2.5 .3 .9 | 2.5
| | |
1996 | -1.3 1.3 -.5 1.0 .4 .9 .0 .4 .6 -.3 .7 .7 | -1.9 6.8 4.5 3.7 | 1.6
1997 | -.1 1.0 .4 -.3 .2 .5 .3 1.0 .7 .6 .5 .2 | 5.9 2.6 6.3 7.4 | 4.9
1998 | .5 -.1 -.1 .6 .2 -1.0 -.7 2.1 -.7 .9 -.2 .1 | 3.0 1.3 -.7 4.1 | 3.5
1999 | .0 .3 -.3 .0 .7 -.6 .0 .8 -.5 1.1 .3 .6 | .2 .8 .8 6.2 | 1.4
2000 | -.6 -.1 .6 .2 -.1 .0 -.6 -.8 .1 -.6 -.7 -.6 | .4 2.2 -4.3 -5.7 | .9
| | |
2001 | -.9 -.5 -.4 .0 -.4 -.6 -.2 -.3 -.5 -.5 -.3 .2 | -8.0 -3.4 -4.0 -4.2 | -4.9
2002 | .8 -.2 .4 .1 .3 .7 -.2 .0 -.1 -.8 -.1 -.6 | 3.2 3.1 1.3 -4.6 | -.3
2003 | .3 -.3 -.3 -1.0 .0 .5 .3 -.4 .9 .2 1.2 .0 | -2.0 -4.6 2.9 5.9 | -1.2
2004 | .0 1.1 .1 .6 .5 -.2 .8 .3 -.4 .7 .2 | 4.7 4.9 3.4 |
| | |
IP (1997=100) | | |
1974 | 68.5 68.2 68.0 67.9 68.2 68.3 68.2 67.8 67.7 67.2 65.2 62.2 | 68.2 68.1 67.9 64.8 | 67.3
1975 | 61.0 59.2 58.5 58.4 58.4 59.0 59.9 60.4 61.4 61.7 61.8 62.6 | 59.6 58.6 60.6 62.0 | 60.2
| | |
1976 | 63.4 64.2 64.3 64.8 65.0 64.9 65.4 65.8 65.8 65.8 66.6 67.3 | 64.0 64.9 65.7 66.6 | 65.3
1977 | 67.1 68.2 69.2 69.8 70.3 70.8 70.9 71.2 71.3 71.5 71.5 72.3 | 68.1 70.3 71.1 71.8 | 70.3
1978 | 71.1 71.3 72.5 73.6 73.8 74.2 74.1 74.4 74.7 75.2 75.9 76.5 | 71.6 73.8 74.4 75.9 | 73.9
1979 | 75.7 75.9 76.2 75.1 75.9 75.8 75.9 74.7 74.8 75.0 74.7 74.9 | 75.9 75.6 75.1 74.8 | 75.4
1980 | 75.1 75.0 74.3 72.6 70.3 69.2 68.5 68.9 70.1 71.3 72.6 72.7 | 74.8 70.7 69.2 72.2 | 71.7
| | |
1981 | 72.4 71.9 72.1 72.4 72.8 72.4 72.5 72.5 72.0 71.1 70.3 69.0 | 72.1 72.5 72.3 70.1 | 71.8
1982 | 67.4 69.1 68.5 68.0 67.8 67.6 67.4 66.9 66.6 65.7 65.2 64.8 | 68.3 67.8 66.9 65.3 | 67.1
1983 | 66.4 66.3 66.9 67.6 68.5 68.9 69.9 70.5 71.6 72.4 72.5 72.7 | 66.5 68.3 70.7 72.5 | 69.5
1984 | 74.0 74.6 74.9 75.2 75.3 75.5 75.8 75.8 75.5 75.8 76.1 76.3 | 74.5 75.3 75.7 76.1 | 75.4
1985 | 75.9 75.7 76.4 76.3 76.4 76.4 76.1 76.6 76.7 76.5 77.0 77.3 | 76.0 76.4 76.5 76.9 | 76.4
| | |
1986 | 78.3 77.7 77.5 77.7 77.8 77.7 77.8 78.0 78.1 78.4 78.7 79.3 | 77.8 77.7 78.0 78.8 | 78.1
1987 | 79.0 80.1 80.1 80.4 81.0 81.2 81.7 81.9 82.3 83.5 84.0 84.4 | 79.7 80.9 82.0 84.0 | 81.6
1988 | 84.3 84.4 84.6 85.3 85.1 85.1 85.2 85.2 85.5 86.0 86.2 86.6 | 84.4 85.2 85.3 86.3 | 85.3
1989 | 87.3 86.4 86.4 86.4 85.6 85.7 84.6 85.3 85.1 84.9 85.0 85.1 | 86.7 85.9 85.0 85.0 | 85.6
1990 | 84.8 86.0 86.3 86.1 86.1 86.2 86.0 86.3 86.2 85.5 84.4 83.7 | 85.7 86.1 86.2 84.6 | 85.6
| | |
1991 | 83.1 82.5 81.8 82.1 82.6 83.5 83.8 83.9 84.8 84.6 84.3 84.1 | 82.5 82.8 84.2 84.4 | 83.4
1992 | 83.4 84.1 84.9 85.2 85.7 85.8 86.4 86.0 85.9 86.3 86.5 86.3 | 84.2 85.6 86.1 86.4 | 85.5
1993 | 87.2 87.3 87.1 87.6 87.5 87.3 87.5 87.3 87.8 88.4 88.7 89.1 | 87.2 87.4 87.5 88.8 | 87.7
1994 | 89.3 89.3 90.3 90.8 91.3 91.4 91.7 92.2 92.2 93.0 93.5 94.3 | 89.6 91.2 92.0 93.6 | 91.6
1995 | 94.5 94.2 94.1 93.7 93.5 93.7 92.9 93.8 94.4 93.9 93.7 94.1 | 94.2 93.6 93.7 93.9 | 93.9
| | |
1996 | 92.8 94.0 93.5 94.5 94.8 95.7 95.6 96.0 96.5 96.2 96.9 97.6 | 93.4 95.0 96.0 96.9 | 95.3
1997 | 97.5 98.5 98.9 98.7 98.9 99.3 99.6 100.6 101.2 101.9 102.4 102.6 | 98.3 99.0 100.5 102.3 | 100.0
1998 | 103.1 103.0 102.9 103.6 103.8 102.7 102.0 104.1 103.4 104.4 104.1 104.2 | 103.0 103.4 103.2 104.2 | 103.5
1999 | 104.1 104.5 104.2 104.2 104.9 104.3 104.3 105.1 104.6 105.8 106.2 106.8 | 104.3 104.5 104.7 106.3 | 104.9
2000 | 106.2 106.2 106.8 107.0 106.9 106.9 106.3 105.5 105.6 104.9 104.2 103.5 | 106.4 107.0 105.8 104.2 | 105.8
| | |
2001 | 102.6 102.0 101.7 101.6 101.3 100.7 100.5 100.2 99.8 99.2 99.0 99.1 | 102.1 101.2 100.2 99.1 | 100.6
2002 | 99.9 99.7 100.1 100.2 100.5 101.2 101.0 101.0 100.9 100.1 100.0 99.3 | 99.9 100.7 101.0 99.8 | 100.3
2003 | 99.6 99.3 99.0 98.0 97.9 98.5 98.8 98.4 99.3 99.5 100.6 100.6 | 99.3 98.1 98.8 100.2 | 99.1
2004 | 100.7 101.7 101.8 102.4 102.9 102.6 103.4 103.7 103.3 104.0 104.2 | 101.4 102.6 103.5 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
<1> See footnote 2 to table 3.
<2> High technology industries include computers, communications equipment, and semiconductors and related electronic components.
<3> Annual averages of industrial production are calculated from not seasonally adjusted indexes.
1Table 9B
CAPACITY AND UTILIZATION: Manufacturing <1> Excluding Selected High-Technology Industries <2>
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
| Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
---------------------------------------------------------------------------------------------------------------------------------------------
| | |
Capacity | | |
(percent of | | |
1997 output) | | |
1974 | 78.9 79.1 79.3 79.5 79.7 79.9 80.1 80.3 80.4 80.6 80.7 80.9 | 79.1 79.7 80.3 80.7 | 79.9
1975 | 81.0 81.1 81.3 81.4 81.5 81.6 81.7 81.9 82.0 82.1 82.2 82.3 | 81.1 81.5 81.9 82.2 | 81.7
| | |
1976 | 82.5 82.6 82.7 82.9 83.0 83.2 83.3 83.5 83.6 83.8 83.9 84.1 | 82.6 83.0 83.5 83.9 | 83.3
1977 | 84.2 84.4 84.6 84.7 84.9 85.1 85.2 85.4 85.6 85.8 86.0 86.2 | 84.4 84.9 85.4 86.0 | 85.2
1978 | 86.4 86.6 86.8 87.0 87.2 87.3 87.5 87.7 87.9 88.1 88.3 88.5 | 86.6 87.2 87.7 88.3 | 87.4
1979 | 88.7 88.9 89.0 89.2 89.4 89.6 89.7 89.9 90.1 90.2 90.4 90.5 | 88.9 89.4 89.9 90.4 | 89.6
1980 | 90.7 90.8 91.0 91.1 91.3 91.4 91.6 91.8 91.9 92.1 92.3 92.4 | 90.8 91.3 91.8 92.3 | 91.5
| | |
1981 | 92.6 92.8 92.9 93.1 93.3 93.4 93.6 93.7 93.9 94.0 94.1 94.3 | 92.8 93.3 93.7 94.1 | 93.5
1982 | 94.4 94.5 94.6 94.7 94.8 94.9 94.9 95.0 95.0 95.1 95.1 95.1 | 94.5 94.8 95.0 95.1 | 94.8
1983 | 95.1 95.1 95.1 95.1 95.0 95.0 95.0 95.0 95.0 95.0 95.0 95.1 | 95.1 95.0 95.0 95.0 | 95.0
1984 | 95.1 95.2 95.2 95.3 95.4 95.5 95.6 95.8 95.9 96.1 96.2 96.4 | 95.2 95.4 95.8 96.2 | 95.6
1985 | 96.6 96.7 96.9 97.1 97.2 97.4 97.6 97.7 97.9 98.0 98.1 98.2 | 96.7 97.2 97.7 98.1 | 97.4
| | |
1986 | 98.4 98.5 98.6 98.7 98.8 98.9 99.0 99.1 99.2 99.3 99.4 99.5 | 98.5 98.8 99.1 99.4 | 98.9
1987 | 99.6 99.8 99.9 100.0 100.1 100.2 100.3 100.4 100.5 100.6 100.6 100.7 | 99.8 100.1 100.4 100.6 | 100.2
1988 | 100.7 100.7 100.8 100.8 100.8 100.8 100.9 100.9 101.0 101.1 101.2 101.3 | 100.7 100.8 101.0 101.2 | 100.9
1989 | 101.5 101.6 101.8 101.9 102.1 102.3 102.5 102.7 102.9 103.1 103.3 103.5 | 101.6 102.1 102.7 103.3 | 102.4
1990 | 103.6 103.8 104.0 104.1 104.3 104.5 104.7 104.8 105.0 105.1 105.3 105.4 | 103.8 104.3 104.8 105.3 | 104.6
| | |
1991 | 105.6 105.7 105.8 106.0 106.1 106.2 106.3 106.5 106.6 106.7 106.8 106.9 | 105.7 106.1 106.5 106.8 | 106.3
1992 | 107.0 107.1 107.2 107.3 107.5 107.6 107.7 107.9 108.0 108.1 108.3 108.4 | 107.1 107.5 107.9 108.3 | 107.7
1993 | 108.6 108.7 108.9 109.0 109.1 109.3 109.4 109.5 109.6 109.8 109.9 110.0 | 108.7 109.1 109.5 109.9 | 109.3
1994 | 110.2 110.3 110.4 110.5 110.7 110.9 111.0 111.2 111.4 111.6 111.8 112.1 | 110.3 110.7 111.2 111.8 | 111.0
1995 | 112.3 112.5 112.8 113.1 113.3 113.6 113.9 114.2 114.5 114.8 115.0 115.3 | 112.5 113.3 114.2 115.0 | 113.8
| | |
1996 | 115.6 115.8 116.1 116.4 116.6 116.9 117.2 117.4 117.7 118.0 118.3 118.6 | 115.8 116.6 117.4 118.3 | 117.1
1997 | 119.0 119.3 119.7 120.1 120.5 121.0 121.4 121.8 122.3 122.8 123.2 123.7 | 119.3 120.5 121.8 123.2 | 121.2
1998 | 124.1 124.5 124.9 125.3 125.7 126.1 126.5 126.8 127.2 127.5 127.8 128.1 | 124.5 125.7 126.8 127.8 | 126.2
1999 | 128.4 128.8 129.1 129.4 129.7 130.0 130.3 130.6 130.8 131.1 131.4 131.6 | 128.8 129.7 130.6 131.4 | 130.1
2000 | 131.8 132.1 132.3 132.5 132.7 132.8 133.0 133.2 133.3 133.4 133.6 133.7 | 132.1 132.7 133.2 133.6 | 132.9
| | |
2001 | 133.8 133.9 133.9 134.0 134.1 134.1 134.2 134.2 134.2 134.2 134.3 134.3 | 133.9 134.1 134.2 134.2 | 134.1
2002 | 134.2 134.2 134.2 134.2 134.1 134.1 134.0 134.0 133.9 133.8 133.8 133.7 | 134.2 134.1 134.0 133.8 | 134.0
2003 | 133.6 133.5 133.4 133.4 133.3 133.2 133.1 133.1 133.0 133.0 133.0 132.9 | 133.5 133.3 133.1 133.0 | 133.2
2004 | 132.9 132.9 132.9 132.9 132.9 133.0 133.0 133.0 133.0 133.0 133.0 | 132.9 132.9 133.0 |
| | |
Utilization | | |
(percent) | | |
1974 | 86.9 86.2 85.8 85.4 85.6 85.4 85.1 84.5 84.2 83.4 80.7 76.9 | 86.3 85.5 84.6 80.3 | 84.2
1975 | 75.3 73.0 72.0 71.7 71.7 72.2 73.2 73.8 74.9 75.1 75.2 76.0 | 73.4 71.9 74.0 75.4 | 73.7
| | |
1976 | 76.9 77.8 77.7 78.2 78.3 78.1 78.5 78.8 78.7 78.5 79.4 80.0 | 77.4 78.2 78.7 79.3 | 78.4
1977 | 79.7 80.8 81.8 82.4 82.8 83.2 83.1 83.4 83.2 83.3 83.2 83.8 | 80.7 82.8 83.2 83.4 | 82.6
1978 | 82.3 82.4 83.5 84.6 84.6 85.0 84.7 84.9 85.0 85.4 85.9 86.4 | 82.7 84.7 84.8 85.9 | 84.6
1979 | 85.3 85.4 85.6 84.1 84.9 84.7 84.5 83.1 83.1 83.1 82.6 82.7 | 85.5 84.6 83.6 82.8 | 84.1
1980 | 82.8 82.5 81.6 79.7 77.0 75.6 74.8 75.1 76.2 77.4 78.6 78.6 | 82.3 77.4 75.4 78.2 | 78.3
| | |
1981 | 78.1 77.5 77.6 77.7 78.0 77.4 77.5 77.3 76.7 75.7 74.7 73.2 | 77.7 77.7 77.2 74.5 | 76.8
1982 | 71.4 73.1 72.4 71.8 71.5 71.2 71.0 70.4 70.0 69.2 68.6 68.2 | 72.3 71.5 70.5 68.6 | 70.7
1983 | 69.9 69.7 70.3 71.1 72.1 72.6 73.5 74.2 75.4 76.2 76.3 76.4 | 70.0 71.9 74.4 76.3 | 73.1
1984 | 77.8 78.4 78.7 78.9 78.9 79.0 79.2 79.1 78.7 78.9 79.0 79.2 | 78.3 78.9 79.0 79.0 | 78.8
1985 | 78.6 78.3 78.8 78.6 78.5 78.5 78.0 78.4 78.4 78.1 78.4 78.7 | 78.6 78.5 78.2 78.4 | 78.4
| | |
1986 | 79.6 79.0 78.6 78.8 78.8 78.6 78.7 78.7 78.8 78.9 79.2 79.7 | 79.1 78.7 78.7 79.3 | 78.9
1987 | 79.3 80.3 80.2 80.4 80.9 81.0 81.4 81.6 81.9 83.1 83.5 83.9 | 79.9 80.8 81.6 83.5 | 81.5
1988 | 83.7 83.8 84.0 84.6 84.4 84.4 84.4 84.4 84.6 85.0 85.2 85.4 | 83.8 84.5 84.5 85.2 | 84.5
1989 | 86.0 85.0 84.9 84.7 83.8 83.8 82.5 83.1 82.7 82.3 82.3 82.2 | 85.3 84.1 82.8 82.3 | 83.6
1990 | 81.8 82.8 83.0 82.6 82.5 82.5 82.2 82.3 82.1 81.3 80.2 79.4 | 82.5 82.6 82.2 80.3 | 81.9
| | |
1991 | 78.7 78.0 77.3 77.5 77.9 78.7 78.8 78.8 79.6 79.3 79.0 78.7 | 78.0 78.0 79.1 79.0 | 78.5
1992 | 78.0 78.5 79.2 79.4 79.8 79.7 80.2 79.7 79.6 79.8 79.9 79.6 | 78.6 79.6 79.8 79.8 | 79.4
1993 | 80.3 80.3 80.0 80.4 80.1 79.9 80.0 79.8 80.0 80.5 80.7 81.0 | 80.2 80.1 79.9 80.8 | 80.3
1994 | 81.0 81.0 81.8 82.1 82.5 82.5 82.6 82.9 82.8 83.3 83.6 84.2 | 81.3 82.4 82.8 83.7 | 82.5
1995 | 84.1 83.7 83.4 82.9 82.5 82.5 81.6 82.2 82.4 81.9 81.5 81.6 | 83.7 82.6 82.1 81.6 | 82.5
| | |
1996 | 80.3 81.1 80.5 81.2 81.3 81.8 81.6 81.7 82.0 81.5 81.9 82.3 | 80.7 81.4 81.8 81.9 | 81.5
1997 | 82.0 82.5 82.6 82.2 82.0 82.1 82.0 82.5 82.8 83.0 83.1 82.9 | 82.4 82.1 82.5 83.0 | 82.5
1998 | 83.1 82.7 82.4 82.7 82.5 81.5 80.7 82.1 81.3 81.9 81.5 81.3 | 82.7 82.2 81.4 81.6 | 82.0
1999 | 81.1 81.1 80.7 80.5 80.9 80.3 80.1 80.5 80.0 80.7 80.8 81.2 | 81.0 80.6 80.2 80.9 | 80.7
2000 | 80.6 80.4 80.7 80.8 80.6 80.5 79.9 79.2 79.2 78.6 78.0 77.5 | 80.6 80.6 79.4 78.0 | 79.7
| | |
2001 | 76.7 76.2 75.9 75.8 75.5 75.1 74.9 74.7 74.3 73.9 73.7 73.8 | 76.3 75.5 74.6 73.8 | 75.1
2002 | 74.4 74.3 74.6 74.7 74.9 75.5 75.4 75.4 75.3 74.8 74.7 74.3 | 74.4 75.0 75.4 74.6 | 74.9
2003 | 74.5 74.4 74.2 73.5 73.5 73.9 74.2 73.9 74.7 74.8 75.7 75.7 | 74.4 73.6 74.3 75.4 | 74.4
2004 | 75.7 76.5 76.6 77.0 77.4 77.2 77.8 78.0 77.6 78.2 78.3 | 76.3 77.2 77.8 |
---------------------------------------------------------------------------------------------------------------------------------------------
Note: Estimates from September 2004 through November 2004 are subject to further revision in the upcoming monthly releases.
<1> See footnote 2 to table 3.
<2> High technology industries include computers, communications equipment, and semiconductors and related electronic components.
1Table 10
ANNUAL PROPORTIONS IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY
------------------------------------------------------------------------------------------------------------------------------------------------------------
Item | 1996 1997 1998 1999 2000 2001 2002 2003
------------------------------------------------------------------------------------------------------------------------------------------------------------
|
Total IP | 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
|
MARKET GROUPS |
Final products and nonindustrial supplies | 56.4 56.9 58.1 57.7 57.6 59.1 58.8 58.4
Consumer goods | 27.7 27.6 28.0 28.2 28.5 30.1 30.9 30.9
Durable | 7.8 7.9 7.9 8.0 7.8 8.1 8.9 8.8
Automotive products | 3.6 3.7 3.7 3.9 3.7 4.0 4.6 4.7
Home electronics | .4 .4 .4 .4 .4 .4 .3 .4
Appliances, furniture, carpeting | 1.4 1.4 1.4 1.4 1.4 1.4 1.5 1.4
Miscellaneous goods | 2.4 2.4 2.4 2.4 2.3 2.3 2.4 2.3
Nondurable | 19.9 19.7 20.1 20.2 20.7 22.0 22.0 22.1
Non-energy | 16.3 16.3 16.9 16.7 16.9 18.1 18.1 17.9
Foods and tobacco | 8.7 8.7 9.2 9.1 9.3 10.0 9.7 9.7
Clothing | 1.8 1.6 1.5 1.3 1.2 1.1 .9 .8
Chemical products | 3.7 3.7 3.8 3.8 3.9 4.5 4.9 4.9
Paper products | 1.7 1.8 1.9 1.9 2.0 2.0 2.0 2.0
Energy | 3.7 3.4 3.3 3.5 3.8 3.8 3.9 4.2
|
Business equipment | 11.2 11.8 12.3 11.9 11.7 11.2 10.3 9.9
Transit | 1.8 2.1 2.5 2.3 2.0 2.0 1.9 1.7
Information processing | 3.7 4.0 4.0 4.1 4.1 3.8 3.0 3.1
Industrial and other | 5.7 5.8 5.8 5.5 5.6 5.4 5.3 5.1
Defense and space equipment | 2.0 1.9 1.9 1.8 1.5 1.8 1.8 2.0
|
Construction supplies | 4.1 4.1 4.3 4.3 4.3 4.3 4.3 4.3
Business supplies | 11.0 11.1 11.2 11.2 11.2 11.3 11.2 11.0
|
Materials | 43.6 43.1 41.9 42.3 42.4 40.9 41.2 41.6
Non-energy | 33.4 33.8 33.3 33.1 32.3 30.8 30.9 30.2
Durable | 21.4 21.7 21.4 21.4 20.9 19.6 19.3 18.7
Consumer parts | 4.1 4.2 4.2 4.4 4.1 3.8 4.1 4.1
Equipment parts | 8.1 8.3 8.2 8.1 8.1 7.3 6.7 6.2
Other | 9.2 9.2 9.1 8.9 8.6 8.4 8.5 8.4
Nondurable | 12.1 12.1 11.9 11.7 11.4 11.3 11.6 11.5
Textile | 1.1 1.1 1.0 1.0 .9 .8 .8 .7
Paper | 3.0 2.9 2.8 2.9 2.8 2.8 2.8 2.7
Chemical | 4.8 4.9 4.6 4.5 4.3 4.2 4.5 4.5
Energy | 10.2 9.3 8.6 9.2 10.1 10.0 10.3 11.4
|
|
INDUSTRY GROUPS |
Manufacturing | 84.4 85.7 86.5 85.8 84.5 84.1 83.8 82.5
Manufacturing (NAICS) | 80.3 81.2 81.8 81.0 79.6 79.2 79.0 77.7
|
Durable manufacturing | 45.5 46.5 47.1 46.6 45.5 44.2 43.7 42.7
Wood products 321 | 1.5 1.5 1.5 1.6 1.4 1.4 1.5 1.5
Nonmetallic mineral products 327 | 2.2 2.2 2.3 2.3 2.2 2.3 2.3 2.2
Primary metal 331 | 3.0 3.1 2.9 2.8 2.5 2.3 2.4 2.5
Fabricated metal products 332 | 6.0 6.0 6.1 6.0 6.1 5.9 5.8 5.6
Machinery 333 | 6.2 6.2 6.2 5.8 5.9 5.6 5.4 5.2
Computer and electronic products 334 | 10.0 10.4 10.3 10.3 10.3 9.2 7.9 7.6
Electrical equip., appliances, |
and components 335 | 2.6 2.6 2.6 2.5 2.5 2.4 2.2 2.1
Motor vehicles and parts 3361-3 | 6.5 6.7 6.6 7.0 6.6 6.5 7.4 7.5
Aerospace and miscellaneous |
transportation equipment 3364-9 | 3.2 3.5 4.1 3.8 3.3 3.8 3.6 3.5
Furniture and related products 337 | 1.5 1.6 1.7 1.7 1.7 1.7 1.8 1.7
Miscellaneous 339 | 2.8 2.8 2.8 2.8 2.9 3.1 3.3 3.2
|
Nondurable manufacturing | 34.7 34.7 34.7 34.4 34.1 35.0 35.3 35.0
Food, beverage, and tobacco products 311,2 | 10.1 10.1 10.6 10.4 10.7 11.4 11.3 11.4
Textile and product mills 313,4 | 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2
Apparel and leather 315,6 | 1.9 1.8 1.6 1.4 1.3 1.2 1.0 .8
Paper 322 | 3.3 3.2 3.2 3.2 3.2 3.1 3.1 3.1
Printing and support 323 | 2.7 2.6 2.6 2.6 2.6 2.6 2.5 2.3
Petroleum and coal products 324 | 1.6 1.6 1.5 1.7 1.9 1.7 1.6 1.9
Chemical 325 | 9.9 10.1 9.9 9.6 9.4 9.8 10.6 10.6
Plastics and rubber products 326 | 3.6 3.7 3.7 3.8 3.7 3.7 3.8 3.7
|
Other manufacturing (non-NAICS) 1133,5111 | 4.1 4.4 4.7 4.8 4.9 5.0 4.8 4.8
|
Mining 21 | 6.0 5.4 4.8 5.5 6.5 6.4 6.4 7.6
Utilities 2211,2 | 9.6 9.0 8.7 8.6 9.0 9.5 9.7 9.9
Electric 2211 | 8.1 7.7 7.5 7.4 7.6 8.1 8.3 8.2
Natural gas 2212 | 1.4 1.3 1.2 1.2 1.4 1.4 1.5 1.6
------------------------------------------------------------------------------------------------------------------------------------------------------------
Note. The IP proportion data are estimates of the industries' relative contributions to the overall IP change between the reference
year and the following year. For example, a 1 percent increase in durable goods manufacturing between 2003 and 2004 would
account for a .427 percent increase in total IP.
1
Explanatory Note
The Industrial Production and Capacity Utilization statistical release,
which is published around the middle of the month, reports measures of
output, capacity, and capacity utilization in manufacturing, mining, and
the electric and gas utilities industries. The release also includes monthly
indexes on the use of electric power in manufacturing and mining. More
detailed descriptions of industrial production, capacity utilization, and
electric power are available at www.federalreserve.gov/releases/G17 at
the Board's World Wide Web site. In addition, files containing data shown
in the release, more detailed series that were published in the G.17 prior to
December 2000, and historical data are available at the Board's Web site.
Instructions for searching for and downloading specific series are provided
as well. For paid access to the data files through the Department of
Commerce's Economic Bulletin Board or World Wide Web site, please
call STAT-USA at 1-800-STAT-USA or 202-452-1986. Diskettes
containing historical data and the data published in this release also are
available from the Board of Governors of the Federal Reserve System,
Publications Services, 202-452-3245.
Industrial Production
Coverage. The industrial production (IP) index measures the real output
of the manufacturing, mining, and electric and gas utilities industries; the
reference period for the index is 1997. Manufacturing consists of those
industries included in the North American Industry Classification System,
or NAICS, definition of manufacturing plus those industries-logging and
newspaper, periodical, book and directory publishing-that have
traditionally been considered to be manufacturing and included in the
industrial sector. For the period since 1997, the total IP index has been
constructed from 300 individual series based on the 2002 North American
Industrial Classification System (NAICS) codes. These individual series
are classified in two ways: (1) market groups, and (2) industry groups.
Market groups consist of products and materials. Total products are the
aggregate of final products, such as consumer goods and equipment, and
nonindustrial supplies (which are inputs to nonindustrial sectors).
Materials are inputs in the manufacture of products. Major industry
groups include three-digit NAICS industries and aggregates of these
industries-for example, durable and nondurable manufacturing, mining,
and utilities. A complete description of the market and industry structures,
including details regarding series classification, relative importance
weights, and data sources, is available on the Board's web site
(www.federalreserve.gov/releases/G17/About.html) . Changes in
output for the market and industry groups are summarized in table 1 and
the levels of output (in index form) are shown in table 4. Special
aggregates, that highlight the relative importance and contributions of
several key industries, such as high-technology and motor vehicles, are
summarized in tables 2 and 5. For a detailed description of the contents of
the statistical tables, see below.
Source data. On a monthly basis, the individual indexes of industrial
production are constructed from two main types of source data: (1) output
measured in physical units and (2) data on inputs to the production
process, from which output is inferred. Data on physical products, such as
tons of steel or barrels of oil, are obtained from private trade associations
and from government agencies; data of this type are used to estimate
monthly IP wherever possible and appropriate. Production indexes for a
few industries are derived by dividing estimated nominal output
(calculated using unit production or sales and unit values) by a
corresponding Fisher price index; the most notable of these fall within the
high-technology grouping and include computers, communications
equipment, and semiconductors. When suitable data on physical product
are not available, estimates of output are based on either
production-worker hours or electric power use by industry. Data on hours
worked by production workers are collected in the monthly establishment
survey conducted by the Bureau of Labor Statistics. The data on electric
power use are described below. The factors used to convert inputs into
estimates of production are based on historical relationships between the
inputs and the comprehensive annual data used to benchmark the IP
indexes; these factors also may be influenced by technological or cyclical
developments. The annual data used in benchmarking the individual IP
indexes are constructed from a variety of source data, such as the
quinquennial Censuses of Manufactures and Mineral Industries and the
Annual Survey of Manufactures, prepared by the Bureau of the Census;
the Minerals Yearbook, prepared by the United States Geological Survey
of the Department of the Interior; and publications of the Department of
Energy.
Aggregation Methodology and Weights. The aggregation method for
the IP index is a version of the Fisher-ideal index formula. (For a detailed
discussion of the aggregation method, see Federal Reserve Bulletin
February 1997 and March 2001.) In the IP index, series that measure the
output of an individual industry are combined using weights derived from
their proportion in the total value-added output of all industries. The IP
index, which extends back to 1919, is built as a chain-type index since
1972. The current formula for the growth in monthly IP (or any of the
sub-aggregates) since 1972 is the geometric mean of the change in output
(I), and, as can be seen below, is computed using the unit value added
estimate for the current month (pm) and the estimate for previous month:
The IP proportions (typically shown in the first column of the relevant
tables in the G.17 release) are estimates of the industries' relative
contributions to overall growth in the following year. For example, the
relative importance weight of the motor vehicles and parts industry is
about 5 percent. If output in this industry increased 10 percent in a month,
then this gain would boost growth in total IP by percentage point (0.05
x 10% = 0.5%). To assist users with calculations, the Federal Reserve's
web site provides supplemental monthly statistics that represent the exact
proportionate contribution of a monthly change in a component index to
the monthly change in the total index (www.federalreserve.gov/
releases/G17/ipdisk/ipweights.sa).
Timing. The first estimate of output for a month is published around the
15th of the following month. The estimate is preliminary (denoted by the
superscript "p" in tables) and subject to revision in each of the subsequent
three months as new source data become available. (Revised estimates are
denoted by the superscript "r" in tables.) For the first estimate of output
for a given month, about 55 percent of the source data (in value-added
terms) are available; the fraction of available source data increases to about
84 percent for estimates in the second month that the estimate is published,
95 percent in the third month, and 96 percent in the fourth month. Data
availability by data type is summarized in the table below:
Availability of Monthly IP Data in Publication Window(Percent of value added in 2003)
Month of estimate
Type of data 1st 2nd 3rd 4th
Physical product 26 41 50 50
Production-worker hours 35 35 35 35
Electric power use 0 12 12 12
IP data received 61 87 96 97
IP data estimated 39 13 4 3
NOTE-The physical product group includes series based on either
monthly or quarterly data. As can be seen in the first line of the table, in
the first month, a physical product indicator is available for about half of
the series (in terms of value added) that ultimately are based on physical
product data (26 percent out of total of 48 percent). Of the 26 percent,
about two-thirds (17 percent of total IP) include series that are derived
from weekly physical product data and for which actual monthly data may
lag up to several months. On average, quarterly product data are received
for the third estimate of industrial production. Specifically, quarterly data
are available for the second estimate of the last month of a quarter, the
third estimate of the second month of a quarter, and the fourth estimate of
the first month of a quarter. About 4 percent of the source data for
monthly IP-all physical product measures-are available too late for
direct inclusion in the current index and are incorporated at the time of an
annual historical revision.
Seasonal adjustment. Individual series are seasonally adjusted using
Census X-12 ARIMA. For series based on production-worker hours, the
current seasonal factors were estimated with data through September
2004; for other series, the factors were estimated with data through at least
June 2004. Series are pre-adjusted for the effects of holidays or the
business cycle when appropriate. For the data since 1972, all seasonally
adjusted aggregate indexes are calculated by aggregating the seasonally
adjusted indexes of the individual series.
Reliability. The average revision to the level of the total IP index, without
regard to sign, between the first and the fourth estimates was 0.27 percent
during the 1987-2003 period. The average revision to the percent change
in total IP, without regard to sign, from the first to the fourth estimates was
0.21 percentage point during the 1987-2003 period. In most cases (about
85 percent), the direction of change in output indicated by the first
estimate for a given month is the same as that shown by the fourth
estimate.
Rounding. The published percent changes are calculated from unrounded
indexes, and may not be the same as percent changes calculated from the
rounded indexes shown in the release.
Capacity Utilization
Overview. The Federal Reserve Board constructs estimates of capacity
and capacity utilization for industries in manufacturing, mining, and
electric and gas utilities. For a given industry, the capacity utilization rate
is equal to an output index (seasonally adjusted) divided by a capacity
index. The Federal Reserve Board's capacity indexes attempt to capture
the concept of sustainable maximum output-the greatest level of output a
plant can maintain within the framework of a realistic work schedule, after
factoring in normal downtime and assuming sufficient availability of
inputs to operate the capital in place.
Coverage. Capacity indexes are constructed for 85 detailed industries (67
in manufacturing, 16 in mining, and 2 in utilities), which mostly
correspond to industries at the three- and four-digit NAICS level.
Estimates of capacity and utilization are available for a variety of groups,
including durable and nondurable manufacturing, total manufacturing,
mining, utilities, and total industry. Manufacturing consists of those
industries included in the North American Industry Classification System,
or NAICS, definition of manufacturing plus those industries-logging and
newspaper, periodical, book and directory publishing-that have
traditionally been considered to be manufacturing and included in the
industrial sector. Also, special aggregates are available, such as high-tech
industries and manufacturing excluding high-tech industries.
Source Data. The monthly rates of capacity utilization are designed to be
consistent with both the monthly data on production and the periodically
available data on capacity and utilization. Because there is no direct
monthly information on overall industrial capacity or utilization rates, the
Federal Reserve first estimates annual capacity indexes from the source
data. Capacity data reported in physical units from government sources
(primarily from the U.S. Geological Survey and the Department of
Energy's Energy Information Administration) and trade sources are
available for portions of several industries in manufacturing (e.g., paper,
industrial chemicals, petroleum refining, motor vehicles), as well as for
electric utilities and mining; these industries represent about 18 percent of
total industrial capacity. When physical product data are unavailable for
manufacturing industries, capacity indexes are based on responses to the
Bureau of the Census's Survey of Plant Capacity (SPC); these industries
account for a bit less than 78 percent of total industry capacity. In the
absence of utilization data for a few mining and petroleum series, capacity
is based on trends through peaks in production (roughly 4 percent of total
industry capacity). A detailed description of the methodology used to
construct the capacity indexes is available on the Board's web site
(www.federalreserve.gov/releases/G17/cap_notes.html).
Aggregation Methodology. Monthly capacity aggregates are calculated
in three steps: (1) utilization aggregates are calculated on an annual basis
through the most recent full year as capacity-weighted aggregates of
individual utilization rates; (2) the annual aggregate capacity is derived
from the corresponding production and utilization aggregates; (3) the
monthly capacity aggregate is obtained by interpolating with a Fisher
index of its constituent monthly capacity series. Utilization rates for the
individual series and aggregates are calculated by dividing the pertinent
monthly production index by the related capacity index.
Consistency. A major aim is that the Federal Reserve utilization rates be
consistent over time so that, for example, a rate of 85 percent means about
the same degree of tightness that it meant in the past. A major task for the
Federal Reserve in developing reasonable and consistent time series of
capacity and utilization is dealing with inconsistencies between the
movements of the industrial production index and the survey-based
utilization rates. The McGraw-Hill/DRI Survey, now discontinued, was
the primary source of manufacturing utilization rates for many years. This
was a survey of large companies that reported, on average, higher
utilization rates than those reported by establishments covered by the SPC
(currently the primary source of factory operating rates) for the fourteen
years they overlapped. Adjustments have been made to keep the industry
utilization rates currently reported by the Federal Reserve roughly in line
with rates formerly reported by McGraw-Hill. As a consequence, the rates
reported by the Federal Reserve tend to be higher than the rates reported in
the SPC.
Perspective. Over the 1972-2003 period, the average total industry
utilization rate is 81.1 percent; for manufacturing, the average factory
operating rate has been 79.9 percent. Industrial plants usually operate at
capacity utilization rates that are well below 100 percent: none of the
broad aggregates has ever reached 100 percent. For total industry and
total manufacturing, utilization rates have exceeded 90 percent only in
wartime. The highs and lows in capacity utilization shown in table 7 are
specific to each series and do not all occur in the same month.
Electric Power
Coverage. Electric power data for sales by utilities to industry users and
for electric power produced by cogenerators (manufacturing and mining
firms that produce electricity for their own use or to sell to a utility) are
generally collected at the 4-digit NAICS and 3-digit SIC level for mining
and manufacturing. Aggregates for 3-digit industries, as well as for total
mining, durable, nondurable, total manufacturing and total industrial
electric power use, are computed. Manufacturing consists of those
industries included in the North American Industry Classification System,
or NAICS, definition of manufacturing plus those industries-logging and
newspaper, periodical, book and directory publishing-that have
traditionally been considered to be manufacturing and included in the
industrial sector. An aggregate showing total industry excluding nuclear
nondefense is shown separately because the value-added proportion for
the nondefense nuclear material series (part of NAICS 3251) in total IP is
considerably less than its share of total electric power use. In addition,
aggregates for utility sales to industrial users and industry generation are
computed. While only the major aggregates are shown in the release, data
for the 3- and 4-digit industries are available on the Board's web site
(www.federalreserve.gov/releases/G17).
Source Data. Electric power data are collected from a sample of utilities
and cogenerators covering all twelve Federal Reserve Districts. The
primary criterion for inclusion of a utility in the panel is whether the utility
provides electric power to industrial customers. A comparison of Federal
Reserve kilowatt-hour aggregates to estimates from the 1997 Census of
Manufactures (the most recent available) and recent reporting panel
statistics suggests the Federal Reserve data cover about 50 percent of the
overall sales to manufacturing in that year. The cogeneration panel covers
about 50 percent of cogeneration used directly by manufacturers. In order
to provide more complete coverage and correct for any shortcomings of
the survey, the series are benchmarked at the 4-digit industry level to the
latest available data from the Annual Survey of Manufactures and the
Census of Manufactures.
Methodology. The data we receive from utilities and cogenerators are
edited for anomalies and aggregated, using self weights, to the 4-digit
NAICS industry levels and above. Where reports are late or unavailable
for some reason, responses are estimated.
Seasonal Adjustment. Series are seasonal adjusted at the 4-digit NAICS
level, with seasonally-adjusted aggregates typically computed as sums of
seasonally adjusted components. The seasonal adjustment procedure
(Census X-12 program) is used without trading-day adjustments because
the reporting periods of the various utilities are not the same. A leap year
adjustment is also made where appropriate.
References and Release Dates
References. The annual revision published in December 2004 will be
described in an article published in an upcoming Federal Reserve Bulletin.
A description of the aggregation methods for industrial production and
capacity utilization is included in an article in the Federal Reserve
Bulletin, vol. 83 (February 1997), pp. 67-92. The Federal Reserve
methodology for constructing industry-level measures of capital is detailed
in "Capital Stock Estimates for Manufacturing Industries: Methods and
Data" by Mike Mohr and Charles Gilbert (1996), which can be obtained
at:www.federalreserve.gov/releases/g17/capital_stock_doc-latest.pdf.
Industrial Production-1986 Edition contains a more detailed description
of the other methods used to compile the industrial production index, plus
a history of its development, a glossary of terms, and a bibliography. The
major revisions to the IP indexes and capacity utilization since 1990 have
been described in the Federal Reserve Bulletin (April 1990, June 1990,
June 1993, March 1994, January 1995, January 1996, February 1997,
February 1998, January 1999, March 2000, March 2001, March 2002,
April 2003, Winter 2004).
Release Schedule
At 9:15 a.m. on
2005: January 14, February 16, March 16, April 15, May 17, June 15,
July 15, August 16, September 14, October 14, November 17, and
December 15.