1                                FEDERAL RESERVE STATISTICAL RELEASE
 G.17 (419) 2008 Historical and Annual Revision                      For release at 2:00 p.m. (EDT)
                                                                     March 28, 2008
 Industrial Production and Capacity Utilization: The 2008 Annual Revision
        The Federal Reserve has revised the index of industrial production (IP) and the related measures of
 capacity and capacity utilization.  Although rates of change from January 1972 through February 2008 are
 affected, the revision has its largest impact on data from 2003 onward.  Relative to earlier estimates,
 measured from fourth quarter to fourth quarter, total IP is now reported to have increased more slowly in
 2006, but changes to output in other recent years were more modest.1  The period from 2003 through 2007 is
 marked by a steady, moderate rise in industrial output; on average, production increased 2.2 percent per
 year over this time frame, and the annual rates of change ranged from 1.5 percent to 3.1 percent.
        The revision to IP incorporates the U.S. Census Bureau's 2006 Annual Survey of Manufactures (ASM), which
 shows a lower annual level of output than previously estimated.  In addition to the 2006 ASM, other new
 source data for this year's revision to the IP indexes include manufacturing data from selected 2006
 Current Industrial Reports from the Census Bureau, annual data on the publishing industry from the Census
 Bureau's Services Annual Survey, new annual data on mineral extraction for 2005 and 2006 from the U.S.
 Geological Survey, and updated deflators from the Bureau of Economic Analysis.  The new monthly production
 estimates also reflect the incorporation of updated seasonal factors and monthly source data that became
 available (or were revised) after the closing of the reporting window.
        Beginning with the release of March data in the Federal Reserve's monthly G.17 Statistical Release,
 monthly releases will be based on a six-month reporting window: One month of new data will be reported, and
 the previous five months of data will be revised.  For example, the monthly release to be issued on April
 16 will include new data for March and revised data for October through February.  Previously, the monthly
 releases were issued with a four-month reporting window, which covered one month of new data and revisions
 to the previous three months of data.  The incorporation of a six-month window will allow for the inclusion
 of additional data before an annual revision.  Over the past year, a six-month window would have allowed an
 additional 3 percent to 4 percent of IP to reflect primary source data that otherwise would only have been
 incorporated at the time of an annual revision.2  The longer reporting window will cause the latest month
 of data shown for a few indexes in the supplement to the G.17 release to be as many as five months earlier
 than the latest value for aggregate IP; the monthly values for detailed production indexes are not shown
 until either the underlying data are available or the reporting window is closed.  Over the past year, the
 data issued for only one or two of the published indexes would have been affected by this change.
        The revision shows that the rates of capacity utilization for total industry in the fourth quarters of
 2006 and 2007 were lower than previously estimated.   The larger revision was for 2006, when utilization
 was 0.8 percentage point lower than reported earlier.  The downward revision for the fourth quarter of 2007
 was 0.5 percentage point; at 81.0 percent, overall utilization was the same as its 1972-2007 (long-run)
 average.
        The revised capacity utilization rates incorporate the results from the Census Bureau's 2006 Survey of
 Plant Capacity for the fourth quarter of that year.  In addition, the revisions to the capacity indexes and
 capacity utilization rates incorporate the revised production indexes and newly available data on
 industrial capacity from the U.S. Geological Survey, the Energy Information Agency of the U.S. Department
 of Energy, and other organizations.
 RESULTS OF THE REVISION
        The tables show the summary statistics for the annual revision.  Tables 1A and 1B show the monthly,
 quarterly, and annual average index levels for IP and for capacity and utilization for January 1978 through
 February 2008, along with percent changes in IP and capacity utilization rates.  Tables 2 and 3 show the
 revised rates of change in IP from 2003 through 2007 for market groups, industry groups, special
 aggregates, and selected detail.  Table 4 shows revised annual rates of change in IP during the 2003-07
 period for selected detail, and table 5 shows the rates of change in capacity by industry groups for the
 same period.  Tables 2 through 5 also show the difference between the revised and earlier rates of change.
 Table 6 shows the revised capacity utilization rates for the final quarters of recent years and the
 differences between the revised and previous rates.  Tables 7A, 7B, 8A, 8B, 9A, and 9B report the revised
 production, capacity, and utilization series for manufacturing, total industry excluding selected
 high-technology industries, and manufacturing excluding selected hightechnology industries.  Table 10
 reports the annual proportions in IP by market and industry groups for 2000 through 2007.
 Industrial Production
        The gains in total IP were revised down, on net, over the 2003-07 period (table 2), although the index
 continues to rise moderately each year.  Compared with the previous estimates, the increases in output are
 now reported to have been a little faster in 2003 and 2007, little changed in 2004, and slower in 2005 and
 especially in 2006.3
        Manufacturing production has expanded in each year since 2003, albeit at a somewhat slower rate, on
 balance, than initially reported.4  Across all manufacturing industries, the largest downward revisions
 generally occurred for 2006, the year that marks the incorporation of the most recent ASM data.  For
 durable goods industries as a whole, output has risen solidly in recent years, although these gains have
 been moderated by the recent revision.  For 2003 and 2004, the revisions to output in most durable goods
 industries were relatively modest.  Relative to previous reports, the current revision reports lower output
 indexes in 2005 and 2006 for nonmetallic mineral products; computer and electronic products; electrical
 equipment, appliances, and components; aerospace and miscellaneous transportation equipment; and
 miscellaneous manufacturing industries.  The rates of change for the production indexes for most durable
 goods industries in 2007 are now higher than in earlier reports.
        Production in nondurable manufacturing industries has advanced in every year since 2003; the largest
 increases occurred in 2004 and 2006.  Within the nondurable goods sector, output in most recent years was
 little changed compared with previous estimates, except in 2006, when it rose about 1 percentage point less
 than reported earlier.  The current revision reports noticeably lower rates of change in 2005 and 2006 in
 food, beverage, and tobacco products; textile and product mills; apparel and leather; printing and support;
 and plastics and rubber products.  In contrast, the output of chemicals is now reported to have declined
 less in 2005, and to have risen more in 2006, than indicated earlier.
        The rates of change for non-NAICS manufacturing (publishing and logging) from 2004 through 2007 are lower
 as a result of the revision.  The revised output index for this group fell in 2005, 2006, and 2007, with
 the largest decrease in 2006.  The indexes for mining and utilities are similar to the previously published
 estimates; the only noteworthy difference is a downward revision to the change in utilities in 2006.
        The estimates for selected high-technology industries--computers and peripheral equipment, communications
 equipment, and semiconductors and related electronic components--incorporate sizable revisions over the
 2003-07 period (table 3).  On net, output in the high-tech sector is still reported to have posted robust
 gains in recent years.  However, the output indexes are now shown to have registered lower gains in 2004,
 2005, and 2006 and to have increased more rapidly in 2003 and 2007 than reported earlier.  The index for
 computers and peripheral equipment has posted gains in each of the past few years; however, those gains are
 now estimated to have been lower, on balance, than shown earlier.  The output of communications equipment
 is now reported to have expanded less rapidly in 2004 but more rapidly in other recent years.  Production
 of semiconductors and related components has posted solid annual gains since 2003; however, the rate of
 increase in 2006 is now reported to have been markedly lower than estimated previously.
 Production by Market Group
        The production index for final products and nonindustrial supplies (table 2) has posted moderate gains in
 recent years.  Compared with the previous estimates, the advance in the index is now reported to have been
 1.5 percentage points lower for 2006; overall changes to the rates of increase in other years were smaller.
        The rise in the output of consumer goods was revised down, on net, over the 2003-07 period.  The output of
 durable consumer goods rose in 2003, 2005, and 2007 but declined in 2004 and 2006.  Over most of this
 period, the rates of change are now reported to have been lower than earlier estimates suggested.  Notably,
 production gains for home electronics from 2003 to 2007 were revised down appreciably.
        The index for consumer nondurables shows moderate gains in output in each of the past several years.
 Among consumer nondurables, the indexes for foods and tobacco, clothing, and paper products were revised
 down for 2005 and 2006; however, the output of chemical products is now reported to have increased at a
 faster pace over the same time period.  As revised, the index for consumer energy products posted a modest
 decline in 2006 rather than a small gain.
        The production of business equipment has increased solidly since 2004; however, relative to previously
 published estimates, the revised index rose more slowly in 2005, 2006, and 2007.  For transit equipment,
 the revision finds that output declined in 2003 and 2007 and that the gains in 2005 and 2006 were less
 sharp than reported earlier.  The production index for information processing equipment is now shown to
 have risen more rapidly in 2003 and 2006 than in previous reports.   In contrast to earlier estimates, the
 production of defense and space equipment is now estimated to have fallen in 2006 and to have risen in
 2007.
        The output of construction supplies posted solid gains in 2004 and 2005 but fell back in 2006 and 2007;
 relative to earlier estimates, the rates of change in recent years are generally lower.  Although the
 production of business supplies edged down in 2006, it increased moderately in all other years since 2003;
 the rates of change for output in 2005 and 2006 are now reported to have been weaker than previously
 stated.  The index for materials is now estimated to have expanded more rapidly in 2003, 2004, and 2007 and
 more slowly in 2005 and 2006.  In particular, output gains for both durable and nondurable materials were
 markedly less in 2006 than stated earlier, although the rates of change for both categories are now
 reported to have been somewhat higher in 2007.  The index for energy materials is now shown to have been
 slightly weaker, on net, from 2003 through 2007.
 Capacity
        Total industrial capacity is now estimated to have risen 1.1 percentage points more slowly in 2006 than
 previously stated (table 5).  Relative to earlier estimates, changes in other years were more modest.
 Overall, capacity declined in 2003, edged up in 2004, and then posted moderate gains from 2005 through
 2007.  The contour of manufacturing capacity and the revisions to that contour are similar to those for
 total industry.  The revision shows that, relative to previous reports, aggregate capacity for the selected
 high-technology industries rose less quickly in 2005 and 2006 but increased somewhat more rapidly in other
 recent years.  Excluding high-technology industries, manufacturing capacity advanced less in 2006 and 2007
 than previously reported; revisions to the changes for earlier years were minor.
        Capacity at mines is still estimated to have contracted from 2003 to 2005 and to have expanded since then.
 The gains in 2006 and 2007 are now reported to have been stronger than previously published.  Capacity at
 electric and gas utilities has risen each year since 2003.  The current estimates show a noticeably slower
 gain in 2006 than was reported earlier; revisions to other recent years were smaller.
        By stage of processing, capacity in the crude stage is now reported to have risen more in 2006 and 2007
 than previously shown; on net, revisions to earlier years were small.  Capacity at the primary and
 semifinished stages rose less in 2006 than stated earlier.  Relative to previous estimates, increases to
 the index for finished goods processors were revised down, on net, over the 2003-07 period.
 Capacity Utilization
        For the past several years, the capacity utilization rate for total industry has remained near its
 long-run average of 81.0 percent (table 6).  For the fourth quarter of 2007, total utilization stood at its
 long-run average and was 0.5 percentage point lower than reported earlier.  The utilization rate for total
 industry was revised down about 3/4 percentage point for the fourth quarter of 2006, but revisions were
 smaller in other recent years.
        Relative to earlier reports, the factory operating rate was little changed in 2004 and was revised down in
 2005, 2006, and 2007.  For almost all major categories of manufacturing industries over the 2005-07 period,
 utilization is now reported to have been lower than stated earlier, and downward revisions were
 particularly noticeable for 2006.  Among durable goods industries, some of the largest downward revisions
 to utilization over the 2004-07 period were for primary metals; electrical equipment, appliances, and
 components; motor vehicles and parts; and aerospace and miscellaneous transportation equipment.  The
 durable goods industries that reported the largest net upward revisions since 2004 were computer and
 electronic products, furniture and related products, and wood products.  Among nondurable goods industries,
 only chemicals registered higher rates of utilization since 2004 than previously reported; for all other
 categories, operating rates are now reported to have been lower than stated earlier.  Capacity utilization
 in the other (non-NAICS) manufacturing industries was revised sharply downward for 2006 and 2007;
 utilization in the fourth quarter of 2007 was 79.1 percent, 5.5 percentage points lower than its long-run
 average.
        The operating rates for the selected high-technology industries rose steadily from 2004 through 2006 but
 fell back last year.  Relative to earlier estimates, capacity utilization is now reported to be lower in
 2004 and 2005, but higher in 2006 and 2007.  In the fourth quarter of 2007, the utilization rate was about
 10 percentage points higher than it was in the fourth quarter of 2004, but was only 1-1/2 percentage points
 above its long-run average.  Among the selected high-technology industries for the 2004-07 period, the
 operating rates for computers and peripheral equipment and for communications equipment are now shown to be
 lower than reported earlier and utilization rates for semiconductors and related electronic components are
 now higher than previously estimated.
        Capacity utilization in mining was revised up for 2004 and 2005 but was revised down slightly for 2006 and
 lowered more noticeably for 2007.  Nevertheless, as of the fourth quarter of 2007, the utilization rate for
 mining stood at 90.2 percent, almost 3 percentage points higher than its long-run average.  In electric and
 gas utilities, capacity utilization rates were revised down for 2005 through 2007.
 TECHNICAL ASPECTS OF THE REVISION
        The benchmark indexes for manufacturing--defined for each six-digit NAICS industry as nominal gross output
 divided by a price index--were updated to include new as well as revised information from the 2005 and 2006
 Annual Surveys of Manufactures (ASM).  This
 revision also incorporates the 2006 Survey of Plant Capacity, other annual industry reports, recent
 information on prices, and revised monthly source data on physical product and production-worker hours.
        As mentioned earlier, the benchmark indexes for most industries incorporate updated price indexes from the
 industry output program of the Bureau of Economic Analysis.  However, the price indexes for pharmaceuticals
 (NAICS 325412), for semiconductors (NAICS 334413), and for most components of communications equipment
 (NAICS 3342) are constructed by the Federal Reserve from alternative sources.5
        As in recent years, the 2006 ASM did not provide data for all six-digit NAICS industries but combined some
 of them into higher-level industry aggregates.  To maintain benchmark references that were consistent over
 time, the Federal Reserve used detailed information from the 2002 Census of Manufactures to impute
 estimates of gross output for those industries no longer reported separately.
 Changes to Individual Production Series
        With this revision, the monthly production indicators for some series have changed, and some new series
 have been created.
 Vacuum Cleaners
        The index for household vacuum cleaner manufacturing (NAICS 335212) is now based on monthly data on unit
 shipments from the Association of Home Appliance Manufacturers (AHAM), with a model-based inventory
 adjustment.  Formerly, the index was based on quarterly data from the Vacuum Cleaner Manufacturers
 Association (VCMA).  In 2003, AHAM assumed responsibility from VCMA for issuing the data.  With this
 revision, the monthly time series was long enough to construct seasonal factors.
        The estimates for the change in inventories follow the procedure introduced in the 2004 annual revision;
 the procedure is currently used for several other industries.  In short, manufacturers are assumed to want
 to hold inventories in proportion 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 to reach a desired inventory level, and the effect on
 stocks of shipments deviating from expected shipments.
 High-technology goods
 Computers
        The index for electronic computer manufacturing (NAICS 334111) was split into separate indexes for certain
 product classes, and these indexes are now based on new source data and methods.  The new product-based
 indexes are for consumer desktop computers, consumer mobile computers, business desktop computers, business
 mobile computers, servers that use x86-based central processing units (CPUs), and servers that use CPUs
 other than those based on x86 architecture.6  The coverage of the indexes for servers is consistent with
 classifications commonly used by industry analysts.  Although the six product-level indexes are not
 published in the monthly statistical release, they are included in the broader IP aggregate for electronic
 computer manufacturing.
        All of the product-based indexes for electronic computers are derived from quarterly data on domestic
 absorption from IDC, an industry research group.  To construct the monthly indicator, the nominal
 absorption data are aggregated to the industry level and converted to industry shipments based on Census
 trade data (by adding exports and subtracting imports).  The industry-level ratio of shipments to domestic
 absorption is applied to each of the six product-level absorption estimates to obtain product-level
 shipments.  These shipments are then adjusted by model-based estimates of the change in product-level
 inventories (refer to the discussion under "Vacuum Cleaners") and divided by the relevant producer price
 index issued by the Bureau of Labor Statistics (BLS) to compute a production index.
 Semiconductors
        More detail and new price data were added to the indexes for the MOS (metal-oxide semiconductor) memories
 portion of semiconductor and related device manufacturing (part of NAICS 334413).   Previously, all
 subcomponents of MOS memories were included in one index.  To better track differential movements in
 specific product categories, this revision split the MOS memory index into three subcomponents: an index
 for DRAM (dynamic random access memory), an index for flash memory, and an index for all other MOS
 memories.  The underlying source data on nominal shipments for all components of memories continue to be
 from the Semiconductor Industry Association (SIA).  The new indexes for MOS memories will not be published
 separately but will continue to be included in the larger index for semiconductor and related device
 manufacturing.
        The current revision incorporates quarterly data on prices from iSuppli, an industry research group, for
 all three categories of MOS memories.  Previously, the DRAM portion of the index relied on quarterly prices
 from Gartner, and the non-DRAM portion used product-level producer price indexes from the BLS that have
 been discontinued.  Monthly interpolations of the quarterly iSuppli prices are based on average sales
 prices from iSuppli for the DRAM index and on average sales prices from SIA for the flash index and the
 other memories index.
 Communications Equipment
        This revision reorganized and introduced new source data and methods for the production indexes associated
 with communications equipment manufacturing (NAICS 3342).  The industry is now represented by six indexes:
 data networking equipment; enterprise and home voice equipment; transmission, local loop, and legacy
 central office equipment; wireless system equipment; satellites and earth station equipment; and other
 communications equipment.
        Two of the new components of communications equipment, the index for data networking equipment and the
 index for enterprise and home voice equipment, are now based on quarterly data on nominal domestic
 absorption from Synergy Research Group.  Information on routers and ethernet switches is used for the data
 networking equipment index, and information on enterprise voice network equipment such as PBX (private
 branch exchange) systems is used for the enterprise and home voice equipment index.  For both indexes, the
 quarterly price indicators are based on matched-model price indexes constructed from the detail in the
 Synergy data.
        New quarterly source data on domestic absorption from the Dell'Oro group underlie two other new indexes
 for the communications equipment industry.  The index for transmission, local loop, and legacy central
 office equipment is based on domestic absorption of optical transport equipment, including wavelength
 division multiplexers and switches.  The index for wireless system equipment is based on domestic
 absorption of mobility infrastructure, including base transceiver stations, base station controllers, and
 mobile switching centers.  For these two indexes, the quarterly price indicators are based on matched-model
 price indexes constructed from the detail in the Dell'Oro data.
 The indexes for satellites and earth station equipment and for other communications equipment are based on
 production-worker hours.
 U.S. Networking Equipment, 1997 to 2006
 -------------------------------------------------
                           Value of
        Production  Price  Production
        Index       Index   (millions of dollars)
 -------------------------------------------------
 Annual Estimates (indexes are 2002=100)
  1997     30.1    317.6    13,870.0
  1998     50.6    234.4    17,220.1
  1999     72.9    194.4    20,677.1
  2000    101.1    174.1    25,691.3
  2001    118.6    133.2    23,103.2
  2002    100.0    100.0    14,602.6
  2003    110.0     76.6    12,158.9
  2004    129.3     59.9    11,322.5
  2005    146.4     54.1    11,559.9
  2006    243.9     51.3    18,137.0
 Quarterly Estimates (indexes are 2002=100)
  1997Q1     22.6    338.0    11,126.7
      Q2     26.7    313.3    12,177.4
      Q3     32.9    309.8    14,843.7
      Q4     38.4    309.3    17,302.9
  1998Q1     43.0    257.1    16,108.3
      Q2     52.4    236.2    18,054.5
      Q3     53.8    219.3    17,220.5
      Q4     53.6    225.0    17,579.8
  1999Q1     68.6    202.0    20,199.2
      Q2     75.3    190.0    20,853.4
      Q3     72.6    194.8    20,612.7
      Q4     75.7    191.0    21,072.1
  2000Q1     93.4    179.8    24,499.6
      Q2    104.3    167.9    25,526.5
      Q3    103.3    174.6    26,285.0
      Q4    103.7    174.3    26,358.4
  2001Q1    123.8    145.4    26,242.6
      Q2    119.5    135.3    23,571.2
      Q3    118.9    126.2    21,887.2
      Q4    112.3    126.0    20,632.9
  2002Q1    105.6    110.2    16,975.2
      Q2     95.4    107.1    14,894.0
      Q3    103.7     91.7    13,858.8
      Q4     95.3     91.0    12,646.6
  2003Q1     93.1     88.6    12,025.6
      Q2    108.6     81.8    12,951.5
      Q3    123.3     71.8    12,908.9
      Q4    114.3     64.1    10,680.0
  2004Q1    149.4     61.7    13,439.9
      Q2    128.4     60.8    11,380.5
      Q3    122.4     59.4    10,590.7
      Q4    119.0     57.6     9,993.4
  2005Q1    133.4     55.0    10,686.1
      Q2    139.9     54.6    11,133.7
      Q3    147.2     54.0    11,600.7
      Q4    164.7     53.0    12,729.0
  2006Q1    167.6     53.0    12,953.8
      Q2    201.3     51.7    15,165.9
      Q3    262.9     50.6    19,392.3
      Q4    338.1     49.8    24,525.7
 ---------------------------------------------------
  Reliability of Monthly Estimates
        The extended six-month reporting window will allow additional source data to be incorporated into IP
 before an annual revision.  The table below shows the availability of source data during 2007 with a
 four-month reporting window.  The six-month window will permit almost all of the indexes estimated in the
 fourth month to be calculated from source data.
 Availability of Monthly IP Data in Publication Window
   (Percent of value added in 2007)
                                 Month of estimate
     Type of data                1st  2nd  3rd  4th
     Physical product            29   42   56   56
     Production-worker hours     42   42   42   42
     IP data received            70   84   98   98
     IP data estimated           30   16    2    2
  Weights for Aggregation
        The IP index is a Fisher index.  This revision uses information from the ASM 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 with the latest data on producer prices for the period after 2006.  Table
 10 shows the annual value-added proportions in the IP index from 2000 through 2007.
  Revised Monthly Data
        This revision incorporates product data that became available or were revised after the regular four-month
 reporting window for monthly IP was closed.  These data were released with too great a lag to be included
 with monthly IP estimates; however, the data were available for inclusion in the annual revision.
  Revised Seasonal Factors
        Seasonal factors for all series were reestimated using data that extend into 2007 or 2008.  Factors for
 production-worker hours--which adjust for timing, holiday, and monthly seasonal patterns--were updated with
 data through January 2008 and were prorated to correspond with the seasonal factors for hours aggregated to
 the three-digit NAICS level.  The updated factors for the physical product series, which include
 adjustments for holiday and workday patterns, used data through 2007.  Seasonal factors for unit motor
 vehicle assemblies have been updated, and projections through June 2008 are on the Board's website at
 www.federalreserve.gov/releases/g17/mvsf.htm.
 Notice
 Data Availability and Publication Changes
        Files containing the revised data and the text and tables from this release are available on the Board's
 website, at www.federalreserve.gov/releases/g17.  Updated data for the annual revision and for all of the
 regularly issued series on industrial production, capacity, and capacity utilization are available on the
 website.  The revised data will also be available through the STAT-USA website of the Department of
 Commerce (www.stat-usa.gov).  Further information on these revisions is available from the Board's
 Industrial Output Section (telephone 202-452-3197).
        A document with printed tables of the revised estimates of series shown in the G.17 release is available
 upon request to the Industrial Output Section, Mail Stop 82, Division of Research and Statistics, Board of
 Governors of the Federal Reserve System, Washington, DC 20551.
        An expanded version of this release will be published in a forthcoming article in the Federal Reserve
 Bulletin.
 1 Estimates for the fourth quarter of 2007 are subject to further revision in the upcoming monthly releases.
 2 Some IP indexes are estimated from secondary source data until primary source data become available.
 3 In this section, all the rates of change are calculated from the fourth quarter of the previous year to
 the fourth quarter of the reference year.  Estimates for the fourth quarter of 2007 are subject to further
 revision in the upcoming monthly releases.
 4 Manufacturing consists of those industries 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.
 5 A table that lists annual and quarterly price indexes for the networking equipment component of
 communications equipment is attached.
 6 The term "x86" refers to CPUs that use either 32-bit or 64-bit processors.
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)         |                                                                                    |                            |
  1978           |  -1.4     .5    1.8    2.1     .3     .7    -.1     .4     .3     .8     .7     .6 |  -1.3   16.7    3.5    7.5 |      5.5
  1979           |   -.7     .6     .3   -1.1     .8     .0    -.2    -.7     .1     .6    -.1     .1 |   1.9    -.6   -1.4    1.5 |      3.0
                 |                                                                                    |                            |
  1980           |    .5     .0    -.3   -2.0   -2.5   -1.2    -.7     .3    1.6    1.3    1.7     .6 |   1.8  -15.9   -6.3   16.2 |     -2.5
  1981           |   -.6    -.5     .6    -.5     .7     .5     .7     .0    -.6    -.8   -1.1   -1.1 |    .8    1.4    4.2   -8.7 |      1.3
  1982           |  -1.9    1.9    -.7    -.8    -.7    -.4    -.3    -.8    -.4    -.8    -.4    -.8 |  -7.8   -4.9   -5.8   -7.4 |     -5.2
  1983           |   1.9    -.6     .9    1.2     .7     .6    1.6    1.1    1.5     .8     .3     .5 |   4.6    9.5   14.6   10.8 |      2.8
  1984           |   2.0     .5     .5     .6     .5     .4     .3     .1    -.2    -.1     .4     .1 |  12.2    6.3    2.7     .3 |      8.9
                 |                                                                                    |                            |
  1985           |   -.3     .4     .1    -.2     .1     .1    -.6     .4     .4    -.4     .3    1.0 |   1.2     .4    -.6    2.4 |      1.2
  1986           |    .5    -.7    -.6     .1     .1    -.3     .6    -.2     .2     .5     .5     .9 |   2.3   -2.4    1.7    4.6 |      1.0
  1987           |   -.3    1.3     .2     .6     .7     .5     .6     .7     .3    1.5     .5     .5 |   5.4    7.2    7.3   10.2 |      5.2
  1988           |    .0     .4     .3     .6    -.1     .2     .2     .5    -.3     .6     .2     .4 |   3.5    3.5    2.1    3.2 |      5.2
  1989           |    .2    -.5     .2     .0    -.7     .0    -.9     .9    -.3    -.1     .3     .7 |   1.5   -1.8   -2.5    1.8 |       .9
                 |                                                                                    |                            |
  1990           |   -.5     .9     .5    -.1     .2     .3    -.1     .2     .2    -.7   -1.2    -.7 |   3.2    2.8    1.4   -6.0 |      1.0
  1991           |   -.5    -.7    -.5     .2    1.0    1.0     .0     .1     .8    -.2    -.2    -.3 |  -7.5    2.6    5.5     .7 |     -1.6
  1992           |   -.6     .7     .8     .7     .4     .0     .8    -.5     .2     .7     .4     .0 |   -.3    7.3    2.9    3.9 |      2.8
  1993           |    .5     .3     .0     .3    -.4     .2     .3     .0     .4     .7     .4     .5 |   3.5    1.2    2.1    6.0 |      3.3
  1994           |    .4     .0    1.1     .5     .6     .7     .2     .5     .2     .8     .7    1.1 |   5.2    7.4    5.2    8.2 |      5.3
                 |                                                                                    |                            |
  1995           |    .3     .0     .1    -.1     .2     .3    -.4    1.3     .4    -.2     .3     .5 |   5.3     .9    3.8    3.3 |      4.8
  1996           |   -.6    1.7    -.2     .7     .6     .9    -.1     .6     .5     .0     .9     .7 |   3.5    7.7    5.1    5.6 |      4.4
  1997           |    .1    1.2     .8     .0     .6     .5     .6    1.4     .9     .7     .9     .4 |   8.0    6.3    9.7   10.7 |      7.3
  1998           |    .4     .0     .0     .5     .6    -.5    -.4    2.1    -.3     .7    -.1     .3 |   4.1    3.1    2.9    5.2 |      5.9
  1999           |    .5     .4     .2     .2     .7    -.2     .6     .5    -.4    1.3     .6     .8 |   4.3    3.8    4.0    8.0 |      4.3
                 |                                                                                    |                            |
  2000           |    .1     .4     .4     .6     .2     .1    -.2    -.2     .4    -.4     .0    -.3 |   4.9    5.0    -.3   -1.3 |      4.2
  2001           |   -.7    -.6    -.3    -.3    -.7    -.6    -.5    -.4    -.4    -.6    -.5     .0 |  -5.5   -5.2   -5.9   -5.2 |     -3.4
  2002           |    .5     .1     .7     .4     .5    1.0    -.3     .1     .0    -.3     .4    -.5 |   2.3    6.3    2.3    -.5 |      -.1
  2003           |    .6     .4    -.2    -.8     .0     .2     .4    -.1     .5     .1     .8    -.1 |   2.7   -2.9    2.8    3.7 |      1.2
  2004           |    .3     .5    -.5     .5     .7    -.8     .7     .3    -.1    1.0     .3     .6 |   2.6    2.0    2.0    5.8 |      2.5
                 |                                                                                    |                            |
  2005           |    .5     .6     .0    -.1     .3     .4     .0     .2   -1.8    1.2    1.1     .5 |   5.4    1.9    -.4    3.7 |      3.3
  2006           |    .1    -.1     .2     .4    -.1     .5     .3     .1    -.4    -.1    -.2     .6 |   3.2    2.6    1.9    -.9 |      2.2
  2007           |   -.4     .7    -.1     .5     .0     .3     .6     .0     .3    -.4     .5     .1 |   1.5    3.2    3.6     .3 |      1.7
  2008           |    .1    -.5                                                                       |                            |
                 |                                                                                    |                            |
 IP (2002=100)   |                                                                                    |                            |
  1978           |  53.5   53.7   54.7   55.8   56.0   56.4   56.4   56.6   56.7   57.2   57.6   58.0 |  54.0   56.1   56.6   57.6 |     56.1
  1979           |  57.6   57.9   58.1   57.5   57.9   57.9   57.8   57.4   57.5   57.8   57.7   57.8 |  57.9   57.8   57.6   57.8 |     57.8
                 |                                                                                    |                            |
  1980           |  58.1   58.1   57.9   56.8   55.3   54.7   54.3   54.5   55.3   56.0   57.0   57.3 |  58.0   55.6   54.7   56.8 |     56.3
  1981           |  57.0   56.7   57.0   56.7   57.1   57.4   57.8   57.8   57.5   57.0   56.4   55.8 |  56.9   57.1   57.7   56.4 |     57.0
  1982           |  54.7   55.7   55.3   54.9   54.5   54.3   54.1   53.7   53.5   53.0   52.8   52.4 |  55.3   54.6   53.8   52.7 |     54.1
  1983           |  53.4   53.1   53.5   54.2   54.6   54.9   55.8   56.4   57.2   57.7   57.9   58.2 |  53.3   54.6   56.5   57.9 |     55.6
  1984           |  59.3   59.6   59.9   60.3   60.6   60.8   60.9   61.0   60.9   60.8   61.0   61.1 |  59.6   60.5   60.9   61.0 |     60.5
                 |                                                                                    |                            |
  1985           |  61.0   61.2   61.3   61.2   61.2   61.3   60.9   61.1   61.4   61.2   61.4   62.0 |  61.2   61.2   61.1   61.5 |     61.3
  1986           |  62.3   61.8   61.4   61.5   61.6   61.4   61.8   61.7   61.8   62.1   62.3   62.9 |  61.8   61.5   61.7   62.4 |     61.9
  1987           |  62.7   63.5   63.6   64.0   64.4   64.7   65.1   65.6   65.8   66.8   67.1   67.4 |  63.3   64.4   65.5   67.1 |     65.1
  1988           |  67.5   67.7   67.9   68.3   68.2   68.4   68.5   68.8   68.6   69.0   69.1   69.4 |  67.7   68.3   68.6   69.2 |     68.4
  1989           |  69.6   69.3   69.4   69.4   69.0   69.0   68.3   69.0   68.8   68.7   68.9   69.4 |  69.4   69.1   68.7   69.0 |     69.1
                 |                                                                                    |                            |
  1990           |  69.0   69.6   70.0   69.9   70.0   70.2   70.1   70.3   70.4   69.9   69.1   68.6 |  69.5   70.0   70.3   69.2 |     69.7
  1991           |  68.3   67.8   67.5   67.6   68.3   69.0   68.9   69.0   69.6   69.5   69.4   69.1 |  67.8   68.3   69.2   69.3 |     68.7
  1992           |  68.7   69.2   69.8   70.3   70.6   70.6   71.2   70.8   71.0   71.5   71.8   71.8 |  69.3   70.5   71.0   71.7 |     70.6
  1993           |  72.1   72.4   72.4   72.6   72.4   72.5   72.8   72.8   73.1   73.6   73.9   74.3 |  72.3   72.5   72.9   73.9 |     72.9
  1994           |  74.6   74.6   75.4   75.8   76.2   76.7   76.9   77.3   77.4   78.1   78.6   79.5 |  74.9   76.2   77.2   78.7 |     76.8
                 |                                                                                    |                            |
  1995           |  79.7   79.7   79.8   79.7   79.9   80.1   79.9   80.9   81.2   81.0   81.3   81.7 |  79.8   79.9   80.7   81.3 |     80.4
  1996           |  81.2   82.5   82.4   83.0   83.5   84.2   84.1   84.6   85.1   85.1   85.8   86.4 |  82.0   83.6   84.6   85.8 |     84.0
  1997           |  86.5   87.6   88.3   88.3   88.9   89.3   89.8   91.0   91.8   92.5   93.4   93.8 |  87.5   88.8   90.9   93.2 |     90.1
  1998           |  94.1   94.2   94.2   94.7   95.3   94.7   94.4   96.3   96.1   96.7   96.7   97.0 |  94.2   94.9   95.6   96.8 |     95.4
  1999           |  97.5   97.9   98.1   98.3   99.0   98.9   99.5  100.0   99.6  100.9  101.6  102.4 |  97.8   98.7   99.7  101.6 |     99.5
                 |                                                                                    |                            |
  2000           | 102.5  102.8  103.2  103.9  104.1  104.3  104.0  103.8  104.3  103.8  103.8  103.5 | 102.8  104.1  104.0  103.7 |    103.7
  2001           | 102.7  102.2  101.8  101.6  100.9  100.2   99.8   99.4   99.0   98.4   97.9   97.8 | 102.2  100.9   99.4   98.0 |    100.1
  2002           |  98.3   98.4   99.1   99.5  100.0  100.9  100.6  100.7  100.7  100.4  100.9  100.4 |  98.6  100.1  100.7  100.6 |    100.0
  2003           | 101.0  101.4  101.3  100.4  100.4  100.6  101.1  101.0  101.5  101.6  102.4  102.3 | 101.2  100.5  101.2  102.1 |    101.2
  2004           | 102.6  103.1  102.6  103.1  103.8  102.9  103.6  103.9  103.8  104.8  105.2  105.8 | 102.8  103.3  103.8  105.3 |    103.8
                 |                                                                                    |                            |
  2005           | 106.3  106.9  106.8  106.8  107.1  107.6  107.6  107.7  105.8  107.1  108.2  108.8 | 106.7  107.1  107.0  108.0 |    107.2
  2006           | 108.8  108.7  109.0  109.4  109.3  109.9  110.1  110.2  109.8  109.7  109.5  110.2 | 108.9  109.5  110.1  109.8 |    109.6
  2007           | 109.8  110.5  110.4  111.0  111.0  111.4  112.0  112.0  112.3  111.8  112.3  112.4 | 110.2  111.1  112.1  112.2 |    111.4
  2008           | 112.5  111.9                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 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     |                                                                                    |                            |
 2002 output)    |                                                                                    |                            |
  1978           |  65.0   65.2   65.4   65.6   65.7   65.9   66.1   66.3   66.5   66.6   66.8   66.9 |  65.2   65.7   66.3   66.8 |     66.0
  1979           |  67.1   67.3   67.4   67.6   67.7   67.8   68.0   68.1   68.3   68.4   68.6   68.7 |  67.3   67.7   68.1   68.6 |     67.9
                 |                                                                                    |                            |
  1980           |  68.8   69.0   69.1   69.3   69.4   69.6   69.7   69.9   70.1   70.2   70.4   70.5 |  69.0   69.4   69.9   70.4 |     69.7
  1981           |  70.7   70.9   71.0   71.2   71.4   71.5   71.7   71.9   72.0   72.2   72.4   72.5 |  70.9   71.4   71.9   72.4 |     71.6
  1982           |  72.7   72.8   73.0   73.1   73.3   73.4   73.5   73.6   73.7   73.8   73.9   73.9 |  72.8   73.3   73.6   73.9 |     73.4
  1983           |  74.0   74.0   74.1   74.1   74.1   74.1   74.2   74.2   74.2   74.3   74.3   74.4 |  74.0   74.1   74.2   74.3 |     74.2
  1984           |  74.5   74.6   74.7   74.8   74.9   75.0   75.2   75.4   75.5   75.7   75.9   76.0 |  74.6   74.9   75.4   75.9 |     75.2
                 |                                                                                    |                            |
  1985           |  76.2   76.4   76.6   76.8   77.0   77.2   77.3   77.5   77.6   77.8   77.9   78.0 |  76.4   77.0   77.5   77.9 |     77.2
  1986           |  78.2   78.3   78.4   78.4   78.5   78.6   78.7   78.8   78.9   79.0   79.1   79.2 |  78.3   78.5   78.8   79.1 |     78.7
  1987           |  79.3   79.5   79.6   79.8   79.9   80.1   80.3   80.4   80.6   80.7   80.8   80.9 |  79.5   79.9   80.4   80.8 |     80.2
  1988           |  81.0   81.1   81.2   81.2   81.3   81.3   81.4   81.4   81.5   81.6   81.7   81.8 |  81.1   81.3   81.4   81.7 |     81.4
  1989           |  81.9   82.0   82.1   82.2   82.4   82.5   82.7   82.9   83.0   83.2   83.4   83.5 |  82.0   82.4   82.9   83.4 |     82.7
                 |                                                                                    |                            |
  1990           |  83.7   83.9   84.1   84.2   84.4   84.6   84.7   84.9   85.0   85.2   85.3   85.5 |  83.9   84.4   84.9   85.3 |     84.6
  1991           |  85.6   85.7   85.8   86.0   86.1   86.2   86.3   86.4   86.5   86.6   86.7   86.9 |  85.7   86.1   86.4   86.7 |     86.2
  1992           |  87.0   87.1   87.3   87.4   87.6   87.8   88.0   88.1   88.3   88.5   88.6   88.8 |  87.1   87.6   88.1   88.6 |     87.9
  1993           |  88.9   89.1   89.2   89.3   89.4   89.5   89.6   89.7   89.8   90.0   90.1   90.3 |  89.1   89.4   89.7   90.1 |     89.6
  1994           |  90.4   90.6   90.9   91.1   91.3   91.6   91.9   92.2   92.5   92.8   93.1   93.4 |  90.7   91.4   92.2   93.1 |     91.8
                 |                                                                                    |                            |
  1995           |  93.8   94.1   94.4   94.8   95.1   95.5   95.8   96.2   96.6   97.0   97.4   97.8 |  94.1   95.1   96.2   97.4 |     95.7
  1996           |  98.3   98.7   99.2   99.6  100.1  100.6  101.0  101.5  102.0  102.5  103.0  103.5 |  98.7  100.1  101.5  103.0 |    100.8
  1997           | 104.0  104.5  105.1  105.6  106.2  106.8  107.4  108.0  108.7  109.4  110.1  110.8 | 104.5  106.2  108.0  110.1 |    107.2
  1998           | 111.5  112.2  112.9  113.6  114.3  115.0  115.6  116.2  116.7  117.3  117.8  118.4 | 112.2  114.3  116.2  117.8 |    115.1
  1999           | 118.9  119.4  119.8  120.3  120.8  121.2  121.7  122.1  122.6  123.1  123.5  124.0 | 119.4  120.8  122.1  123.5 |    121.4
                 |                                                                                    |                            |
  2000           | 124.4  124.9  125.3  125.8  126.2  126.6  127.0  127.4  127.8  128.2  128.6  129.0 | 124.9  126.2  127.4  128.6 |    126.8
  2001           | 129.4  129.8  130.1  130.5  130.8  131.2  131.5  131.8  132.1  132.4  132.7  132.9 | 129.8  130.8  131.8  132.7 |    131.3
  2002           | 133.2  133.4  133.6  133.7  133.8  133.9  133.9  134.0  133.9  133.9  133.8  133.7 | 133.4  133.8  133.9  133.8 |    133.7
  2003           | 133.6  133.5  133.4  133.3  133.2  133.1  133.1  133.0  133.0  133.0  132.9  132.9 | 133.5  133.2  133.0  132.9 |    133.2
  2004           | 133.0  133.0  133.0  133.0  133.0  133.0  133.1  133.1  133.1  133.1  133.1  133.2 | 133.0  133.0  133.1  133.2 |    133.1
                 |                                                                                    |                            |
  2005           | 133.2  133.3  133.3  133.4  133.5  133.6  133.7  133.8  134.0  134.1  134.3  134.4 | 133.3  133.5  133.9  134.3 |    133.7
  2006           | 134.6  134.7  134.9  135.0  135.2  135.3  135.4  135.6  135.7  135.9  136.0  136.2 | 134.7  135.2  135.6  136.1 |    135.4
  2007           | 136.4  136.6  136.8  137.0  137.2  137.4  137.6  137.9  138.1  138.3  138.5  138.7 | 136.6  137.2  137.9  138.5 |    137.5
  2008           | 139.0  139.1                                                                       |                            |
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1978           |  82.3   82.4   83.6   85.1   85.2   85.6   85.3   85.4   85.4   85.9   86.3   86.6 |  82.8   85.3   85.3   86.2 |     84.9
  1979           |  85.8   86.1   86.2   85.1   85.6   85.4   85.0   84.3   84.2   84.5   84.2   84.2 |  86.0   85.3   84.5   84.3 |     85.0
                 |                                                                                    |                            |
  1980           |  84.4   84.2   83.8   81.9   79.7   78.6   77.9   77.9   79.0   79.8   81.0   81.3 |  84.1   80.1   78.3   80.7 |     80.8
  1981           |  80.6   80.0   80.3   79.7   80.1   80.3   80.6   80.4   79.8   79.0   77.9   76.9 |  80.3   80.0   80.3   77.9 |     79.6
  1982           |  75.2   76.5   75.8   75.0   74.4   74.0   73.6   72.9   72.5   71.8   71.5   70.9 |  75.9   74.5   73.0   71.4 |     73.7
  1983           |  72.2   71.7   72.3   73.2   73.7   74.1   75.2   76.0   77.1   77.7   77.9   78.2 |  72.1   73.6   76.1   77.9 |     74.9
  1984           |  79.7   80.0   80.2   80.6   80.9   81.0   81.1   81.0   80.6   80.4   80.5   80.4 |  80.0   80.8   80.9   80.4 |     80.5
                 |                                                                                    |                            |
  1985           |  80.0   80.1   80.0   79.7   79.5   79.4   78.7   78.9   79.1   78.6   78.7   79.4 |  80.0   79.5   78.9   78.9 |     79.3
  1986           |  79.7   79.0   78.4   78.4   78.4   78.1   78.5   78.3   78.3   78.6   78.8   79.4 |  79.0   78.3   78.4   78.9 |     78.7
  1987           |  79.0   79.9   79.9   80.2   80.6   80.8   81.2   81.6   81.7   82.8   83.1   83.4 |  79.6   80.5   81.5   83.1 |     81.2
  1988           |  83.3   83.5   83.7   84.1   83.9   84.1   84.2   84.5   84.2   84.6   84.6   84.9 |  83.5   84.0   84.3   84.7 |     84.1
  1989           |  85.0   84.5   84.6   84.4   83.7   83.6   82.6   83.2   82.8   82.6   82.6   83.1 |  84.7   83.9   82.9   82.8 |     83.6
                 |                                                                                    |                            |
  1990           |  82.5   83.0   83.2   82.9   82.9   83.0   82.7   82.8   82.8   82.1   80.9   80.3 |  82.9   83.0   82.8   81.1 |     82.4
  1991           |  79.8   79.1   78.6   78.6   79.3   80.0   79.9   79.9   80.5   80.2   80.0   79.6 |  79.2   79.3   80.1   79.9 |     79.6
  1992           |  79.0   79.5   80.0   80.4   80.5   80.4   80.9   80.3   80.4   80.8   80.9   80.8 |  79.5   80.5   80.5   80.9 |     80.3
  1993           |  81.1   81.2   81.1   81.3   80.9   81.1   81.2   81.1   81.4   81.8   82.0   82.3 |  81.2   81.1   81.2   82.1 |     81.4
  1994           |  82.5   82.3   83.0   83.2   83.4   83.7   83.7   83.8   83.7   84.2   84.4   85.1 |  82.6   83.4   83.7   84.5 |     83.6
                 |                                                                                    |                            |
  1995           |  85.0   84.7   84.5   84.1   84.0   83.9   83.3   84.1   84.1   83.6   83.5   83.5 |  84.7   84.0   83.8   83.5 |     84.0
  1996           |  82.6   83.6   83.1   83.3   83.4   83.7   83.2   83.4   83.4   83.0   83.4   83.5 |  83.1   83.5   83.3   83.3 |     83.3
  1997           |  83.2   83.8   84.0   83.6   83.7   83.6   83.6   84.2   84.5   84.6   84.8   84.6 |  83.7   83.6   84.1   84.7 |     84.0
  1998           |  84.4   83.9   83.4   83.3   83.3   82.4   81.6   82.9   82.3   82.5   82.0   82.0 |  83.9   83.0   82.3   82.2 |     82.8
  1999           |  82.0   82.0   81.8   81.7   82.0   81.6   81.8   81.9   81.3   82.0   82.2   82.6 |  82.0   81.8   81.6   82.3 |     81.9
                 |                                                                                    |                            |
  2000           |  82.4   82.4   82.4   82.6   82.5   82.4   81.9   81.5   81.6   81.0   80.7   80.2 |  82.4   82.5   81.6   80.6 |     81.8
  2001           |  79.4   78.7   78.2   77.8   77.1   76.4   75.9   75.4   74.9   74.3   73.8   73.6 |  78.8   77.1   75.4   73.9 |     76.3
  2002           |  73.8   73.8   74.2   74.4   74.7   75.4   75.1   75.2   75.2   75.0   75.4   75.1 |  73.9   74.8   75.2   75.2 |     74.8
  2003           |  75.6   75.9   75.9   75.3   75.4   75.6   75.9   75.9   76.3   76.4   77.0   77.0 |  75.8   75.4   76.1   76.8 |     76.0
  2004           |  77.2   77.6   77.1   77.5   78.0   77.4   77.9   78.1   78.0   78.7   79.0   79.4 |  77.3   77.6   78.0   79.1 |     78.0
                 |                                                                                    |                            |
  2005           |  79.8   80.2   80.1   80.0   80.2   80.5   80.4   80.5   79.0   79.8   80.6   80.9 |  80.0   80.3   80.0   80.4 |     80.2
  2006           |  80.9   80.7   80.8   81.1   80.9   81.2   81.3   81.3   80.9   80.8   80.5   80.9 |  80.8   81.0   81.2   80.7 |     80.9
  2007           |  80.5   80.9   80.7   81.0   80.9   81.0   81.4   81.2   81.3   80.8   81.1   81.0 |  80.7   81.0   81.3   81.0 |     81.0
  2008           |  81.0   80.4                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 are subject to further revision in the upcoming monthly releases.
1Table 2
 RATES OF CHANGE IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY: 2003-2007 <1>
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          |               |                                              |              Difference between
                                                          |               |                Revised change                |         revised and earlier changes
                                                          |               |                  (percent)                   |             (percentage points)
 Item                                                     |         NAICS |     2003     2004     2005     2006     2007 |     2003     2004     2005     2006     2007
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          |               |                                              |
  Total IP                                                |               |     1.5      3.1      2.6      1.7      2.1  |      .4       .1      -.6     -1.8       .4
                                                          |               |                                              |
  MARKET GROUP                                            |               |                                              |
  Final products and nonindustrial supplies               |               |     1.5      2.6      4.4      1.0      1.3  |      .3       .0      -.4     -1.5       .1
     Consumer goods                                       |               |     1.4      1.7      2.4       .2      1.1  |      .0      -.1      -.4      -.9       .1
        Durable                                           |               |     3.4      -.7      1.5     -3.9       .9  |      .0      -.4      -.8     -1.4      -.1
           Automotive products                            |               |     4.7     -2.9     -1.9     -5.3      3.6  |     -.1       .3      -.1      -.7       .8
           Home electronics                               |               |    18.5      2.5     11.0     11.5     14.1  |    -1.9    -11.8     -5.7     -1.6     -4.6
           Appliances, furniture, carpeting               |               |     2.9      1.6      1.6     -6.1     -6.1  |      .6      -.6     -1.4     -1.4      -.5
           Miscellaneous goods                            |               |    -1.4      2.0      5.6     -2.8     -1.4  |     -.1      -.1      -.7     -2.2      -.6
        Nondurable                                        |               |      .5      2.6      2.7      1.5      1.2  |      .0       .0      -.2      -.7       .1
           Non-energy                                     |               |     1.1      2.2      3.0      2.1       .9  |      .0       .0      -.3      -.6       .1
              Foods and tobacco                           |               |     2.6      2.3      3.9       .3      1.5  |      .0       .0      -.9     -1.9       .2
              Clothing                                    |               |   -10.9     -9.8     -2.1       .3     -1.9  |      .0       .7     -1.9      -.4      1.4
              Chemical products                           |               |     2.1      4.0      3.1      7.7       .0  |     -.2       .2      2.2      3.9       .3
              Paper products                              |               |    -3.8      2.2      -.9     -2.4      1.0  |      .5     -1.0     -3.1     -5.7      -.5
           Energy                                         |               |    -1.8      3.9      1.7      -.2      1.9  |     -.1       .2       .1      -.8       .0
                                                          |               |                                              |
     Business equipment                                   |               |     1.9      5.2     10.3      7.8      2.9  |      .8       .0      -.9     -2.0      -.4
        Transit                                           |               |    -1.2      7.2     15.9      9.1     -2.5  |    -1.6      1.3     -4.6     -7.8     -4.6
        Information processing                            |               |    10.5      6.3     14.6     12.8      8.4  |     3.5      -.9       .9      2.6      -.1
        Industrial and other                              |               |    -1.9      4.0      5.9      4.4      1.8  |      .1       .0      -.8     -2.5       .9
     Defense and space equipment                          |               |     2.9      3.1      6.9     -2.6      4.6  |     1.3       .6      3.1     -4.9      5.2
                                                          |               |                                              |
     Construction supplies                                |               |      .9      1.7      7.5     -3.5     -1.4  |     -.1       .2      -.5     -1.5      -.3
     Business supplies                                    |               |     1.3      3.2      2.6      -.3      1.1  |      .4       .2      -.7     -2.7       .0
                                                          |               |                                              |
  Materials                                               |               |     1.5      3.7       .3      2.5      3.2  |      .5       .3      -.8     -2.2       .7
     Non-energy                                           |               |     2.1      5.4      2.4      1.3      3.4  |      .7       .6     -1.1     -3.2      1.2
        Durable                                           |               |     4.1      6.0      5.4      1.2      5.4  |     1.1       .7     -1.6     -4.5      1.5
           Consumer parts                                 |               |    -1.4       .0       .5     -5.8     -2.0  |      .1      -.2     -1.2     -2.6      -.4
           Equipment parts                                |               |    12.0     11.1     11.3      9.4     11.9  |     3.2      1.7     -4.7    -10.0      5.1
           Other                                          |               |      .5      4.9      2.9     -2.0      3.3  |      .0       .5       .2     -1.2      -.3
        Nondurable                                        |               |    -1.2      4.3     -2.2      1.6       .4  |     -.1       .6      -.2     -1.0       .8
           Textile                                        |               |    -8.3      -.9       .5    -12.2     -9.2  |     -.7      2.5       .3     -4.9       .5
           Paper                                          |               |    -5.5      3.8     -1.1      1.6     -1.3  |     -.3      -.1     -1.0     -1.0       .7
           Chemical                                       |               |     2.3      8.6     -5.8      4.9      1.8  |     -.2       .9       .8       .1      1.0
     Energy                                               |               |      .2      -.5     -4.0      5.2      2.8  |      .1      -.3       .1      -.1      -.5
                                                          |               |                                              |
                                                          |               |                                              |
  INDUSTRY GROUP                                          |               |                                              |
  Manufacturing                                           |               |     1.7      3.7      3.7      1.1      2.2  |      .4       .2      -.7     -2.2       .5
     Manufacturing (NAICS)                                |        31-33  |     2.0      3.8      3.9      1.4      2.4  |      .4       .3      -.6     -2.1       .6
                                                          |               |                                              |
        Durable manufacturing                             |               |     3.4      4.0      6.9      1.6      3.8  |      .8       .2     -1.0     -3.1       .9
           Wood products                                  |          321  |     4.6      1.4     11.6    -13.3     -6.3  |      .1      -.3      1.2      1.2      -.8
           Nonmetallic mineral products                   |          327  |     1.3      4.4      5.3     -3.5       .9  |     -.6       .5      -.5     -1.6       .8
           Primary metal                                  |          331  |     4.5      8.1     -1.1     -4.2      4.3  |      .2       .7      1.2      -.7     -1.7
           Fabricated metal products                      |          332  |    -2.4      1.9      6.2      3.2      3.3  |     -.2       .3       .1      -.6       .8
           Machinery                                      |          333  |    -2.0      5.1      8.3      2.5      -.5  |      .0       .2       .1     -2.8      1.1
           Computer and electronic products               |          334  |    17.9     10.2     15.1     12.2     13.1  |     4.3       .0     -3.2     -6.1      3.6
           Electrical equipment, appliances,              |               |                                              |
              and components                              |          335  |     -.9      2.3      1.8      -.5      3.7  |      .1       .3     -2.0     -2.8      1.1
           Motor vehicles and parts                       |       3361-3  |     3.2     -1.4      -.3     -5.9     -2.1  |      .1       .3      -.6     -2.1      -.3
           Aerospace and miscellaneous                    |               |                                              |
              transportation equipment                    |       3364-9  |    -4.0      3.4     11.5      4.5     11.1  |     -.2      1.4     -3.6    -10.2      3.6
           Furniture and related products                 |          337  |      .2      3.4      1.6     -1.6     -1.8  |      .1      -.1       .0      -.4      1.2
           Miscellaneous                                  |          339  |      .3      1.6      6.6      2.7      1.5  |      .2      -.5     -2.1     -2.0     -1.7
                                                          |               |                                              |
        Nondurable manufacturing                          |               |      .2      3.5       .7      1.3       .9  |     -.1       .3      -.2     -1.0       .3
           Food, beverage, and tobacco products           |        311,2  |     2.5      1.3      4.1       .3      2.2  |      .0       .1     -1.1     -2.3       .4
           Textile and product mills                      |        313,4  |    -5.1       .5      -.3    -11.7     -8.0  |     -.4      1.2     -2.2     -4.0       .0
           Apparel and leather                            |        315,6  |   -10.6     -8.9     -1.3      -.8     -2.0  |     -.1       .7     -1.7      -.7      1.3
           Paper                                          |          322  |    -5.6      2.8      -.7       .3     -2.2  |     -.2      -.2      -.6       .4       .2
           Printing and support                           |          323  |    -2.7      2.4       .5      1.9     -1.3  |     -.3       .6     -1.4     -3.3       .9
           Petroleum and coal products                    |          324  |      .9     10.4     -3.7      2.2      -.4  |     -.2       .5      -.1      -.4      -.4
           Chemical                                       |          325  |     1.9      6.6     -1.2      5.0      1.3  |     -.2       .5      1.3      1.3       .7
           Plastics and rubber products                   |          326  |     -.2       .9      2.6     -3.6      4.3  |      .0       .1      -.4     -3.9      -.7
                                                          |               |                                              |
     Other manufacturing (non-NAICS)                      |    1133,5111  |    -2.8      2.0      -.5     -4.5     -1.4  |      .6      -.6     -1.2     -4.7      -.8
                                                          |               |                                              |
  Mining                                                  |           21  |     1.0      -.9     -4.9      8.2       .6  |      .3      -.2       .6       .2      -.7
  Utilities                                               |       2211,2  |      .6      1.8      2.0      -.7      3.0  |      .0       .1      -.1     -1.0       .2
     Electric                                             |         2211  |     1.9      2.3      3.5     -1.2      3.3  |      .1       .1       .1     -1.2      -.1
     Natural gas                                          |         2212  |    -6.2     -1.1     -4.6      1.5      1.7  |     -.2       .3     -1.2      -.4      2.0
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates for the fourth quarter of 2007 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 2007, the rates are
     calculated from the fourth quarter of 2006 to the fourth quarter of 2007 and annualized.
1Table 3
 RATES OF CHANGE IN INDUSTRIAL PRODUCTION, SPECIAL AGGREGATES AND SELECTED DETAIL: 2003-2007 <1>
 ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |              |                                         |           Difference between
                                                   |              |             Revised change              |       revised and earlier changes
                                                   |              |                (percent)                |           (percentage points)
 Item                                              |        NAICS |    2003    2004    2005    2006    2007 |    2003    2004    2005    2006    2007
 ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |              |                                         |
  Total industry                                   |              |    1.5     3.1     2.6     1.7     2.1  |     .4      .1     -.6    -1.8      .4
                                                   |              |                                         |
  Energy                                           |              |     .7     1.3    -1.8     3.7     2.3  |     .1     -.2      .0     -.3     -.5
     Consumer products                             |              |   -1.8     3.9     1.7     -.2     1.9  |    -.1      .2      .1     -.8      .0
     Commercial products                           |              |    4.7     4.5      .4     1.2     2.0  |     .0      .0     -.1    -1.1    -1.2
     Oil and gas well drilling                     |      213111  |   21.3     8.4    11.9    14.8     -.8  |     .1      .1      .1      .1     -.2
     Converted fuel                                |              |    1.0     2.3    -2.6     2.5     5.2  |     .0      .2     -.1      .3    -1.1
     Primary energy                                |              |    -.1    -1.7    -4.6     6.4     1.8  |     .3     -.5      .3     -.4     -.1
                                                   |              |                                         |
  Non-energy                                       |              |    1.7     3.5     3.9     1.1     2.1  |     .4      .2     -.7    -2.2      .6
     Selected high-technology industries           |              |   23.8     9.4    22.4    17.3    20.9  |    6.7    -1.0    -5.7    -7.3     4.0
        Computers and peripheral equipment         |        3341  |    9.9     1.6    28.8    18.0    16.7  |    5.1    -4.9    -1.5     5.9    -7.8
        Communications equipment                   |        3342  |   17.4      .7    13.7    20.6    18.6  |    3.5    -5.5      .8     5.8     3.8
        Semiconductors and related                 |              |                                         |
           electronic components                   |    334412-9  |   34.0    17.3    24.0    15.4    24.2  |    9.5     3.6    -9.7   -19.4     9.7
                                                   |              |                                         |
     Excluding selected high-technology            |              |                                         |
           industries                              |              |     .2     3.1     2.7      .0      .9  |     .0      .3     -.4    -1.9      .3
                                                   |              |                                         |
        Motor vehicles and parts                   |      3361-3  |    3.2    -1.4     -.3    -5.9    -2.1  |     .1      .3     -.6    -2.1     -.3
           Motor vehicles                          |        3361  |    7.7    -2.7    -2.3    -7.0    -2.5  |     .0      .3      .2    -1.0    -1.0
           Motor vehicle parts                     |        3363  |   -1.9     -.8     -.6    -4.3      .5  |     .2      .3    -1.9    -4.1      .6
                                                   |              |                                         |
        Excluding motor vehicles and parts         |              |    -.1     3.6     3.0      .6     1.1  |     .0      .3     -.4    -1.9      .4
           Consumer goods                          |              |    1.1     2.3     3.1     1.0      .3  |     .0     -.1     -.5     -.8      .0
           Business equipment                      |              |   -2.0     5.2     7.3     5.8     3.1  |    -.4      .8    -1.6    -4.4      .8
           Construction supplies                   |              |     .7     1.7     7.5    -3.7    -1.7  |    -.1      .2     -.4    -1.5     -.5
           Business supplies                       |              |    -.9     2.2     2.4    -1.6     -.1  |     .1      .2     -.7    -2.6      .0
           Materials                               |              |    -.5     5.0      .6      .7     1.9  |    -.1      .6     -.2    -1.6      .6
                                                   |              |                                         |
  Measures excluding selected high-technology      |              |                                         |
        industries                                 |              |                                         |
  Total industry                                   |              |     .3     2.7     1.6      .9     1.2  |     .0      .2     -.4    -1.5      .2
     Manufacturing                                 |              |     .2     3.3     2.5      .1     1.1  |     .0      .3     -.4    -1.9      .3
        Durable                                    |              |     .6     3.2     4.7     -.5     1.6  |    -.1      .4     -.5    -2.5      .5
                                                   |              |                                         |
  Measures excluding motor vehicles and parts      |              |                                         |
  Total industry                                   |              |    1.4     3.5     2.8     2.1     2.4  |     .4      .1     -.6    -1.8      .4
     Manufacturing                                 |              |    1.6     4.2     4.0     1.7     2.6  |     .4      .2     -.7    -2.2      .6
        Durable                                    |              |    3.5     5.1     8.1     2.8     4.8  |     .9      .2    -1.1    -3.2     1.2
                                                   |              |                                         |
  Measures excluding selected high-technology      |              |                                         |
        industries and motor vehicles and parts    |              |                                         |
  Total industry                                   |              |     .1     3.1     1.7     1.4     1.4  |     .0      .2     -.3    -1.5      .3
     Manufacturing                                 |              |    -.1     3.8     2.7      .6     1.4  |    -.1      .3     -.4    -1.9      .4
                                                   |              |                                         |
 Measures of non-energy materials                  |              |                                         |
       inputs to                                   |              |                                         |
  Finished processors                              |              |    3.7     6.0     5.6     2.8     4.9  |    1.4      .8    -2.7    -6.2     2.5
  Primary and semifinished processors              |              |     .7     4.9      .1      .3     2.4  |     .0      .5      .1    -1.0      .2
                                                   |              |                                         |
  Stage-of-process groups                          |              |                                         |
  Crude                                            |              |    -.3     2.6    -6.6     7.2     1.8  |     .1     -.4      .7      .3     -.4
  Primary and semifinished                         |              |    1.1     3.7     3.3    -1.0     2.5  |     .5      .5    -1.0    -3.3      .7
  Finished                                         |              |    2.7     2.4     5.4     3.4     1.7  |     .3     -.2     -.2     -.6      .2
 ----------------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates for the fourth quarter of 2007 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 2007, the rates are
     calculated from the fourth quarter of 2006 to the fourth quarter of 2007 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
 Annual Rates of Change for Industrial Production <1>
 --------------------------------------------------------------------------------------------------------------------------------------------
                                                          |                                         |           Difference between
                                                          |          Revised Growth Rates           |        revised and earlier rates
                                                          |                                         |           (percentage points)
 Item                                                     |    2003    2004    2005    2006    2007 |    2003    2004    2005    2006    2007
 --------------------------------------------------------------------------------------------------------------------------------------------
                                                          |                                         |
  Total IP                                                |    1.2     2.5     3.3     2.2     1.7  |     .2      .0      .1    -1.8     -.2
                                                          |                                         |
  MARKET GROUP                                            |                                         |
  Consumer goods                                          |    1.3     1.3     2.8      .3     1.7  |     .0     -.1     -.1    -1.0     -.1
     Durable                                              |    3.2     1.1      .5    -1.3     -.3  |    -.1     -.3     -.5    -1.2     -.8
     Nondurable                                           |     .5     1.4     3.6      .8     2.3  |     .0      .0      .1     -.9      .1
                                                          |                                         |
  Business equipment                                      |    -.3     5.2     7.3    10.4     3.3  |    -.5      .9     -.6    -1.3    -1.6
  Defense and space equipment                             |    6.3     -.8    10.5    -3.2     3.6  |    2.5    -1.0     5.1    -5.6     3.7
                                                          |                                         |
  Construction supplies                                   |    -.4     2.1     4.5     2.2    -2.5  |    -.2      .2     -.3    -1.3     -.6
  Business supplies                                       |    1.7     2.2     3.4      .6      .6  |     .3      .0      .0    -2.4     -.7
                                                          |                                         |
  Materials                                               |    1.3     3.0     2.3     2.2     1.9  |     .4     -.1      .2    -2.4      .0
     Non-energy                                           |    1.8     4.3     3.9     2.5     2.0  |     .6      .0      .4    -3.4      .2
     Energy                                               |     .0     -.4    -1.2     1.6     1.6  |     .1     -.2      .1      .0     -.5
                                                          |                                         |
                                                          |                                         |
  INDUSTRY GROUP                                          |                                         |
  Manufacturing                                           |    1.3     2.9     4.0     2.4     1.7  |     .2      .0      .1    -2.2     -.2
     Manufacturing (NAICS)                                |    1.5     3.1     4.2     2.8     1.8  |     .2      .1      .2    -2.2     -.1
        Durable manufacturing                             |    2.7     4.1     5.5     4.6     2.6  |     .4      .1      .0    -3.0     -.2
        Nondurable manufacturing                          |     .1     1.9     2.8      .8      .9  |    -.1      .0      .4    -1.4      .0
     Other manufacturing (non-NAICS)                      |   -2.9      .8      .7    -4.3    -1.5  |     .1     -.1    -1.1    -3.0    -2.1
                                                          |                                         |
  Mining                                                  |     .2     -.6    -1.3     3.1      .2  |     .3      .0      .4      .4     -.6
  Utilities                                               |    1.9     1.4     2.1     -.6     3.3  |     .0      .0      .0     -.8      .2
 --------------------------------------------------------------------------------------------------------------------------------------------
 <1> The rates of change are calculated from annual averages of seasonally adjusted industrial production indexes, rather than between the fourth quarter of one year and the fourth quarter of the next.
 <2> See footnote 2 of table 3.
1Table 5
 RATES OF CHANGE IN CAPACITY, BY INDUSTRY GROUPS: 2003-2007 <1>
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |                                                   |                Difference between
                                                   |                  Revised change                   |            revised and earlier changes
                                                   |                     (percent)                     |                (percentage points)
 Item                                              |      2003      2004      2005      2006      2007 |      2003      2004      2005      2006      2007
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
  Total industry                                   |      -.6        .2        .8       1.3       1.8  |       .3        .0       -.2      -1.1        .0
                                                   |                                                   |
  Manufacturing                                    |      -.6        .2       1.4       1.4       2.0  |       .3        .1       -.3      -1.3       -.2
     Manufacturing (NAICS)                         |      -.3        .2       1.5       1.4       2.0  |       .3        .1       -.3      -1.4       -.2
        Durable manufacturing                      |       .3        .5       2.6       2.4       3.3  |       .5        .0       -.7      -1.8       -.2
        Nondurable manufacturing                   |     -1.0       -.1        .5        .3        .7  |       .2        .3        .2       -.8       -.1
     Other manufacturing (non-NAICS)               |     -4.8       -.6       -.2       1.1        .6  |     -1.0       -.5       -.8        .1       -.2
                                                   |                                                   |
  Mining                                           |     -1.4      -1.3      -1.1       1.4       1.7  |       .7      -1.0        .6        .8       1.3
  Utilities                                        |      3.6       2.9        .7        .8       1.2  |       .5        .3        .7      -1.2       -.3
                                                   |                                                   |
                                                   |                                                   |
  Selected high-technology industries              |      4.2       5.5      13.1      10.3      21.4  |      2.8       1.2      -5.2      -9.3       1.9
 Manufacturing     ex. selected                    |                                                   |
        high-technology industries                 |      -.7       -.2        .7        .8        .8  |       .1        .0        .1       -.6       -.2
                                                   |                                                   |
  Stage-of-process groups                          |                                                   |
  Crude                                            |     -1.8       -.7       -.8        .9       1.4  |       .4       -.6        .3        .7       1.0
  Primary and semifinished                         |      -.8        .7        .8       1.2       2.1  |       .6        .3       -.6      -1.8       -.1
  Finished                                         |       .3        .4       2.3       1.8       1.7  |       .0       -.1        .3       -.5       -.3
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
 <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
 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-                                 |
 Item                                                     |     NAICS     |    2006    2004    2005    2006    2007 |     2004     2005     2006     2007
                                                          |               |    Ave.      Q4      Q4      Q4      Q4 |       Q4       Q4       Q4       Q4
 --------------------------------------------------------------------------------------------------------------------------------------------------------
  Total industry                                          |               |   81.0    79.1    80.4    80.7    81.0  |      .0      -.2      -.8      -.5
                                                          |               |                                         |
  Manufacturing<1>                                        |               |   79.7    77.5    79.2    79.0    79.2  |     -.1      -.3     -1.1      -.5
     Manufacturing (NAICS)                                |        31-33  |   79.5    77.1    78.9    78.9    79.2  |     -.1      -.4      -.9      -.3
                                                          |               |                                         |
        Durable manufacturing                             |               |   78.0    74.8    78.0    77.3    77.8  |      .0      -.2     -1.1      -.3
           Wood products                                  |          321  |   80.1    81.4    89.9    75.9    70.5  |      .1      1.4      1.6       .3
           Nonmetallic mineral products                   |          327  |   79.4    80.3    83.3    78.9    78.2  |     -.8      -.5      -.8      -.2
           Primary metal                                  |          331  |   80.8    86.7    83.9    80.8    84.0  |     -.1       .2     -1.4     -2.6
           Fabricated metal products                      |          332  |   77.4    73.8    78.0    79.9    81.3  |      .2       .1      -.3       .2
           Machinery                                      |          333  |   78.7    73.2    78.5    79.4    77.3  |     -.2      -.2     -1.5      -.6
           Computer and electronic products               |          334  |   78.4    71.1    74.7    78.0    77.3  |     -.6      -.4       .7      3.2
       Electrical equip., appliances,                     |               |                                         |
              and components                              |          335  |   83.2    79.9    83.2    82.1    83.4  |      .8      -.2     -2.2     -2.1
           Motor vehicles and parts                       |       3361-3  |   77.5    79.2    78.3    72.3    72.4  |      .3      -.3     -2.4     -3.7
       Aerospace and other miscellaneous                  |               |                                         |
           transportation equipment                       |       3364-9  |   72.5    63.0    70.0    72.8    80.5  |     1.6      -.2     -5.9     -2.4
           Furniture and related products                 |          337  |   78.6    77.0    79.0    77.5    76.6  |      .5       .3      -.8       .6
           Miscellaneous                                  |          339  |   76.6    74.9    76.9    76.5    74.7  |     -.1     -1.4     -2.3     -3.0
                                                          |               |                                         |
        Nondurable manufacturing                          |               |   81.6    79.8    80.0    80.8    81.0  |     -.3      -.6      -.8      -.5
           Food, beverage, and tobacco products           |        311,2  |   81.5    78.4    80.7    80.3    81.1  |      .3      -.7     -1.9     -1.0
           Textile and product mills                      |        313,4  |   82.3    77.2    79.7    72.5    68.9  |     1.6      -.1     -3.3     -2.8
           Apparel and leather                            |        315,6  |   78.5    67.9    69.6    71.8    73.0  |      .0     -1.9     -2.3     -1.3
           Paper                                          |          322  |   87.7    83.7    84.0    84.3    82.6  |     -.8     -1.0     -1.2     -1.4
           Printing and support                           |          323  |   83.7    76.5    77.7    78.5    76.4  |      .6      -.3     -1.9      -.7
           Petroleum and coal products                    |          324  |   85.8    92.0    87.3    88.9    88.9  |    -2.4      -.6     -1.2     -1.3
           Chemical                                       |          325  |   78.2    78.1    75.5    79.1    78.9  |     -.4      -.1      1.4      1.4
           Plastics and rubber products                   |          326  |   83.6    83.8    85.9    82.3    84.6  |    -1.2     -1.4     -2.5     -2.2
                                                          |               |                                         |
     Other manufacturing (non-NAICS)                      |    1133,5111  |   84.6    85.7    85.4    80.7    79.1  |      .5       .2     -3.9     -4.3
                                                          |               |                                         |
  Mining                                                  |           21  |   87.5    88.8    85.5    91.2    90.2  |      .4       .4      -.1     -1.9
  Utilities                                               |       2211,2  |   86.8    84.6    85.7    84.4    85.9  |      .0      -.8      -.6      -.2
                                                          |               |                                         |
  Selected high-technology industries                     |               |   78.0    69.5    75.2    80.0    79.6  |    -1.2     -1.3       .3      1.7
     Computers and peripheral equipment                   |         3341  |   77.9    78.2    74.3    77.5    78.5  |    -1.6     -1.9      -.8     -2.2
     Communications equipment                             |         3342  |   75.7    52.4    61.8    73.3    79.5  |    -2.0     -2.0       .0     -2.4
     Semiconductors and related                           |               |                                         |
        electronic components                             |     334412-9  |   80.8    77.4    84.2    85.1    80.2  |      .6      1.0      2.4      5.2
                                                          |               |                                         |
  Measures excluding selected high-technology             |               |                                         |
        industries                                        |               |                                         |
  Total industry                                          |               |   81.2    79.7    80.7    80.7    81.0  |      .2      -.2     -1.0      -.9
     Manufacturing<1>                                     |               |   79.8    78.1    79.5    79.0    79.2  |      .0      -.3     -1.4     -1.0
                                                          |               |                                         |
  Stage-of-process groups                                 |               |                                         |
  Crude                                                   |               |   86.6    88.0    83.3    89.2    89.2  |      .1       .4       .0     -1.1
  Primary and semifinished                                |               |   82.2    81.4    83.4    81.3    81.3  |      .0      -.1     -1.0      -.5
  Finished                                                |               |   77.7    73.8    75.9    77.0    77.5  |     -.1      -.6     -1.3      -.7
 --------------------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates for the fourth quarter of 2007 are subject to further revision in the upcoming monthly releases.
 1.  See footnote 2 to table 3.
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)         |                                                                                    |                            |
  1978           |  -1.4     .3    1.6    1.6     .3     .8    -.1     .5     .4     .8     .9     .8 |    .4   13.9    4.2    8.8 |      6.0
  1979           |   -.9     .5     .4   -1.5    1.2     .2     .1   -1.3     .2     .4    -.3     .3 |   1.9    -.9    -.9     .0 |      3.1
                 |                                                                                    |                            |
  1980           |    .4    -.1    -.8   -2.1   -3.0   -1.5   -1.0     .7    1.6    1.8    1.9     .3 |   1.2  -18.7   -7.7   19.3 |     -3.5
  1981           |   -.4    -.6     .4     .5     .6    -.5     .2     .1    -.5   -1.0   -1.2   -1.7 |    .6    3.2     .1  -10.1 |      1.1
  1982           |  -2.4    2.7    -.8    -.7    -.2    -.2    -.1    -.8    -.3   -1.1    -.7    -.4 |  -9.2   -2.0   -3.8   -8.4 |     -5.4
  1983           |   2.4    -.1    1.0    1.2    1.3     .8    1.5     .8    1.9    1.1     .3     .3 |   9.1   12.4   15.3   12.4 |      4.8
  1984           |   1.8    1.1     .5     .5     .3     .4     .4     .2    -.2     .4     .3     .4 |  12.6    6.2    3.5    2.6 |      9.8
                 |                                                                                    |                            |
  1985           |   -.3    -.3     .7    -.4     .1     .2    -.6     .6     .1    -.3     .6     .4 |    .2     .7     .1    2.2 |      1.6
  1986           |   1.1    -.6    -.3     .4     .1    -.3     .6     .2     .2     .4     .5     .9 |   4.4    -.1    2.6    5.0 |      2.2
  1987           |   -.3    1.4     .1     .5     .8     .4     .7     .5     .6    1.6     .6     .6 |   6.0    6.9    7.1   11.7 |      5.7
  1988           |   -.2     .2     .3     .9    -.1     .1     .1     .1     .3     .6     .3     .4 |   2.5    4.5    1.4    4.9 |      5.4
  1989           |    .7   -1.0    -.1     .1    -.8     .1   -1.1     .9    -.2    -.2     .2     .2 |   1.7   -3.2   -3.0     .6 |       .8
                 |                                                                                    |                            |
  1990           |   -.1    1.4     .4    -.3     .1     .2    -.2     .3     .0    -.8   -1.1    -.7 |   4.7    2.6     .7   -6.6 |       .8
  1991           |   -.8    -.6    -.7     .3     .7    1.1     .2     .3    1.0    -.2    -.3    -.1 |  -8.8    2.1    7.1    1.4 |     -2.0
  1992           |   -.6     .9    1.0     .6     .6     .3     .8    -.5     .1     .6     .4    -.2 |    .7    8.3    3.9    2.7 |      3.6
  1993           |   1.0     .2    -.1     .6    -.1    -.1     .3    -.1     .6     .8     .4     .5 |   4.3    1.8    1.3    6.7 |      3.5
  1994           |    .2     .1    1.3     .8     .7     .3     .5     .7     .3    1.0     .8    1.2 |   5.0    9.4    6.1    9.9 |      5.9
                 |                                                                                    |                            |
  1995           |    .3    -.1     .2    -.2     .0     .4    -.6    1.2     .8    -.2     .1     .5 |   5.6     .3    3.1    4.1 |      5.2
  1996           |   -.7    1.7    -.3    1.0     .6    1.1     .3     .6     .6    -.1     .8     .9 |   2.8    8.7    7.5    5.9 |      4.8
  1997           |    .1    1.4    1.2    -.2     .9     .7     .5    1.7     .9     .7    1.1     .5 |   9.6    7.5   10.9   11.6 |      8.5
  1998           |    .7     .0    -.2     .7     .5    -.7    -.5    2.5    -.3     .9     .2     .5 |   5.7    2.6    3.1    7.5 |      6.7
  1999           |    .3     .7    -.1     .4     .9    -.3     .5     .7    -.4    1.6     .8     .7 |   4.8    4.2    3.7    9.6 |      5.0
                 |                                                                                    |                            |
  2000           |    .2     .3     .7     .6    -.1     .2     .0    -.5     .4    -.4    -.3    -.6 |   5.4    4.8    -.4   -2.9 |      4.5
  2001           |   -.6    -.6    -.3    -.2    -.7    -.7    -.4    -.7    -.4    -.7    -.3     .2 |  -6.3   -5.4   -6.4   -5.1 |     -4.1
  2002           |    .4     .1     .7     .1     .7    1.1    -.4     .3     .0    -.5     .4    -.5 |   2.8    5.7    3.1   -1.1 |      -.1
  2003           |    .5     .2     .3   -1.0     .1     .6     .2    -.3     .7     .1    1.0    -.2 |   2.0   -1.9    2.6    4.1 |      1.3
  2004           |    .0     .6    -.1     .5     .7    -.7     .8     .7    -.2    1.0     .1     .5 |   2.1    3.3    3.9    5.4 |      2.9
                 |                                                                                    |                            |
  2005           |    .7     .7    -.3     .0     .6     .2     .0     .3   -1.0    1.5     .8    -.1 |   5.8    2.2    1.0    6.0 |      4.0
  2006           |    .7    -.4     .0     .5    -.3     .4     .1     .3    -.2    -.5    -.1    1.0 |   2.7    1.4    1.6   -1.1 |      2.4
  2007           |   -.6     .1     .7     .4     .2     .5     .8    -.4     .4    -.5     .2     .1 |   1.1    4.7    4.0    -.8 |      1.7
  2008           |    .0    -.3                                                                       |                            |
                 |                                                                                    |                            |
 IP (2002=100)   |                                                                                    |                            |
  1978           |  49.9   50.1   50.9   51.7   51.9   52.3   52.2   52.5   52.7   53.1   53.6   54.1 |  50.3   52.0   52.5   53.6 |     52.1
  1979           |  53.6   53.9   54.1   53.3   53.9   54.0   54.0   53.3   53.5   53.7   53.5   53.7 |  53.9   53.7   53.6   53.6 |     53.7
                 |                                                                                    |                            |
  1980           |  53.9   53.9   53.5   52.4   50.8   50.0   49.6   49.9   50.7   51.6   52.6   52.7 |  53.8   51.1   50.1   52.3 |     51.8
  1981           |  52.5   52.2   52.4   52.7   53.0   52.7   52.9   52.9   52.7   52.1   51.5   50.7 |  52.4   52.8   52.8   51.4 |     52.4
  1982           |  49.5   50.8   50.4   50.1   50.0   49.8   49.8   49.4   49.2   48.7   48.4   48.2 |  50.2   50.0   49.5   48.4 |     49.5
  1983           |  49.3   49.3   49.8   50.4   51.0   51.4   52.2   52.6   53.6   54.2   54.4   54.5 |  49.5   50.9   52.8   54.4 |     51.9
  1984           |  55.5   56.1   56.4   56.7   56.8   57.1   57.3   57.4   57.3   57.5   57.7   57.9 |  56.0   56.8   57.3   57.7 |     57.0
                 |                                                                                    |                            |
  1985           |  57.7   57.5   58.0   57.7   57.8   57.9   57.6   57.9   58.0   57.8   58.2   58.5 |  57.7   57.8   57.8   58.2 |     57.9
  1986           |  59.1   58.7   58.6   58.8   58.9   58.7   59.0   59.2   59.3   59.5   59.8   60.3 |  58.8   58.8   59.2   59.9 |     59.2
  1987           |  60.2   61.0   61.1   61.4   61.9   62.1   62.5   62.8   63.2   64.2   64.6   65.0 |  60.8   61.8   62.9   64.6 |     62.5
  1988           |  64.9   65.0   65.2   65.8   65.7   65.8   65.9   65.9   66.1   66.5   66.7   67.0 |  65.0   65.8   66.0   66.8 |     65.9
  1989           |  67.5   66.9   66.8   66.8   66.3   66.4   65.7   66.3   66.1   66.0   66.1   66.2 |  67.1   66.5   66.0   66.1 |     66.4
                 |                                                                                    |                            |
  1990           |  66.2   67.1   67.3   67.2   67.3   67.4   67.3   67.5   67.5   66.9   66.2   65.7 |  66.9   67.3   67.4   66.3 |     67.0
  1991           |  65.2   64.8   64.3   64.5   65.0   65.7   65.9   66.1   66.7   66.6   66.4   66.4 |  64.8   65.1   66.2   66.5 |     65.6
  1992           |  66.0   66.6   67.2   67.6   68.0   68.2   68.8   68.4   68.5   68.9   69.2   69.0 |  66.6   67.9   68.6   69.0 |     68.0
  1993           |  69.7   69.8   69.7   70.1   70.1   70.0   70.2   70.1   70.5   71.1   71.4   71.8 |  69.8   70.1   70.3   71.4 |     70.4
  1994           |  72.0   72.0   73.0   73.6   74.1   74.3   74.6   75.2   75.4   76.1   76.8   77.7 |  72.3   74.0   75.1   76.9 |     74.5
                 |                                                                                    |                            |
  1995           |  77.9   77.8   78.0   77.9   77.9   78.2   77.7   78.7   79.3   79.2   79.3   79.7 |  77.9   78.0   78.6   79.4 |     78.5
  1996           |  79.1   80.5   80.2   81.0   81.5   82.4   82.6   83.1   83.6   83.6   84.3   85.0 |  79.9   81.6   83.1   84.3 |     82.2
  1997           |  85.1   86.3   87.3   87.1   87.9   88.4   88.8   90.3   91.1   91.8   92.8   93.3 |  86.2   87.8   90.1   92.6 |     89.2
  1998           |  94.0   93.9   93.8   94.4   94.9   94.2   93.8   96.1   95.8   96.7   96.8   97.3 |  93.9   94.5   95.2   97.0 |     95.1
  1999           |  97.7   98.4   98.3   98.6   99.5   99.2   99.7  100.4  100.0  101.6  102.4  103.1 |  98.1   99.1  100.0  102.4 |     99.9
                 |                                                                                    |                            |
  2000           | 103.3  103.6  104.3  104.9  104.8  105.1  105.0  104.5  104.9  104.5  104.1  103.5 | 103.7  104.9  104.8  104.0 |    104.4
  2001           | 102.9  102.3  101.9  101.7  100.9  100.2   99.9   99.2   98.8   98.1   97.8   98.0 | 102.3  100.9   99.3   98.0 |    100.1
  2002           |  98.4   98.4   99.1   99.2   99.9  101.0  100.6  100.9  100.9  100.4  100.8  100.3 |  98.7  100.0  100.8  100.5 |    100.0
  2003           | 100.8  101.0  101.3  100.3  100.4  101.0  101.2  100.9  101.6  101.7  102.7  102.4 | 101.0  100.6  101.2  102.2 |    101.3
  2004           | 102.4  103.0  102.9  103.4  104.1  103.3  104.2  104.9  104.7  105.7  105.8  106.4 | 102.8  103.6  104.6  106.0 |    104.2
                 |                                                                                    |                            |
  2005           | 107.1  107.8  107.5  107.6  108.2  108.4  108.4  108.8  107.7  109.4  110.2  110.1 | 107.5  108.1  108.3  109.9 |    108.4
  2006           | 110.9  110.5  110.5  111.1  110.8  111.2  111.3  111.7  111.5  110.9  110.8  111.8 | 110.6  111.0  111.5  111.2 |    111.1
  2007           | 111.1  111.3  112.0  112.4  112.6  113.2  114.1  113.6  114.0  113.4  113.7  113.8 | 111.5  112.8  113.9  113.6 |    112.9
  2008           | 113.8  113.5                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 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     |                                                                                    |                            |
 2002 output)    |                                                                                    |                            |
  1978           |  60.8   61.0   61.1   61.3   61.5   61.7   61.9   62.0   62.2   62.4   62.6   62.7 |  61.0   61.5   62.0   62.6 |     61.8
  1979           |  62.9   63.1   63.3   63.4   63.6   63.8   63.9   64.1   64.2   64.4   64.6   64.7 |  63.1   63.6   64.1   64.6 |     63.8
                 |                                                                                    |                            |
  1980           |  64.9   65.0   65.2   65.4   65.5   65.7   65.9   66.1   66.3   66.5   66.6   66.8 |  65.0   65.5   66.1   66.6 |     65.8
  1981           |  67.0   67.2   67.4   67.6   67.8   68.0   68.1   68.3   68.5   68.6   68.8   68.9 |  67.2   67.8   68.3   68.8 |     68.0
  1982           |  69.1   69.2   69.4   69.5   69.7   69.8   69.9   70.0   70.1   70.2   70.3   70.4 |  69.2   69.7   70.0   70.3 |     69.8
  1983           |  70.4   70.5   70.5   70.5   70.5   70.6   70.6   70.6   70.7   70.7   70.8   70.8 |  70.5   70.5   70.6   70.8 |     70.6
  1984           |  70.9   71.0   71.1   71.2   71.4   71.5   71.7   71.9   72.1   72.3   72.5   72.7 |  71.0   71.4   71.9   72.5 |     71.7
                 |                                                                                    |                            |
  1985           |  72.9   73.1   73.3   73.5   73.7   73.9   74.1   74.3   74.5   74.6   74.7   74.9 |  73.1   73.7   74.3   74.7 |     74.0
  1986           |  75.0   75.1   75.1   75.2   75.3   75.4   75.5   75.6   75.7   75.8   75.9   76.1 |  75.0   75.3   75.6   75.9 |     75.5
  1987           |  76.2   76.4   76.6   76.8   77.0   77.2   77.4   77.5   77.7   77.8   78.0   78.1 |  76.4   77.0   77.5   78.0 |     77.2
  1988           |  78.2   78.2   78.3   78.4   78.4   78.5   78.5   78.6   78.6   78.7   78.8   78.9 |  78.2   78.4   78.6   78.8 |     78.5
  1989           |  79.0   79.2   79.3   79.5   79.6   79.8   80.0   80.2   80.4   80.6   80.7   80.9 |  79.2   79.6   80.2   80.7 |     79.9
                 |                                                                                    |                            |
  1990           |  81.1   81.3   81.5   81.7   81.8   82.0   82.2   82.3   82.5   82.7   82.8   83.0 |  81.3   81.8   82.3   82.8 |     82.1
  1991           |  83.1   83.3   83.4   83.5   83.6   83.8   83.9   84.0   84.1   84.2   84.3   84.5 |  83.3   83.6   84.0   84.3 |     83.8
  1992           |  84.6   84.8   84.9   85.1   85.3   85.5   85.7   85.9   86.1   86.3   86.5   86.7 |  84.8   85.3   85.9   86.5 |     85.6
  1993           |  86.9   87.0   87.1   87.3   87.4   87.5   87.6   87.8   87.9   88.0   88.2   88.4 |  87.0   87.4   87.8   88.2 |     87.6
  1994           |  88.6   88.8   89.0   89.3   89.5   89.8   90.1   90.5   90.8   91.1   91.5   91.8 |  88.8   89.6   90.5   91.5 |     90.1
                 |                                                                                    |                            |
  1995           |  92.2   92.5   92.9   93.3   93.7   94.1   94.5   94.9   95.3   95.8   96.2   96.7 |  92.5   93.7   94.9   96.2 |     94.3
  1996           |  97.2   97.7   98.2   98.8   99.3   99.9  100.4  100.9  101.5  102.0  102.6  103.1 |  97.7   99.3  100.9  102.6 |    100.1
  1997           | 103.7  104.3  104.9  105.6  106.2  106.9  107.6  108.3  109.1  109.8  110.6  111.4 | 104.3  106.2  108.3  110.6 |    107.4
  1998           | 112.3  113.1  113.9  114.7  115.5  116.2  116.9  117.6  118.3  118.9  119.5  120.1 | 113.1  115.4  117.6  119.5 |    116.4
  1999           | 120.7  121.3  121.8  122.4  122.9  123.5  124.0  124.5  125.1  125.6  126.2  126.8 | 121.3  122.9  124.5  126.2 |    123.7
                 |                                                                                    |                            |
  2000           | 127.3  127.9  128.4  129.0  129.5  130.1  130.6  131.1  131.6  132.1  132.6  133.0 | 127.9  129.5  131.1  132.6 |    130.3
  2001           | 133.5  133.9  134.3  134.7  135.1  135.4  135.7  136.0  136.3  136.5  136.7  136.9 | 133.9  135.1  136.0  136.7 |    135.4
  2002           | 137.1  137.2  137.3  137.4  137.4  137.5  137.5  137.5  137.5  137.5  137.4  137.4 | 137.2  137.4  137.5  137.4 |    137.4
  2003           | 137.3  137.2  137.1  137.1  137.0  136.9  136.8  136.8  136.7  136.6  136.6  136.6 | 137.2  137.0  136.8  136.6 |    136.9
  2004           | 136.5  136.5  136.5  136.5  136.5  136.5  136.6  136.6  136.7  136.7  136.8  136.9 | 136.5  136.5  136.6  136.8 |    136.6
                 |                                                                                    |                            |
  2005           | 137.0  137.2  137.3  137.5  137.6  137.8  138.0  138.2  138.4  138.6  138.8  138.9 | 137.2  137.6  138.2  138.8 |    137.9
  2006           | 139.1  139.3  139.4  139.6  139.7  139.9  140.0  140.2  140.3  140.5  140.7  140.8 | 139.3  139.7  140.2  140.7 |    140.0
  2007           | 141.0  141.2  141.4  141.7  141.9  142.1  142.4  142.7  142.9  143.2  143.4  143.7 | 141.2  141.9  142.7  143.4 |    142.3
  2008           | 143.9  144.1                                                                       |                            |
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1978           |  82.1   82.1   83.2   84.3   84.3   84.8   84.5   84.6   84.8   85.2   85.7   86.2 |  82.5   84.5   84.6   85.7 |     84.3
  1979           |  85.2   85.4   85.5   84.0   84.8   84.7   84.6   83.2   83.2   83.3   82.9   83.0 |  85.4   84.5   83.7   83.1 |     84.2
                 |                                                                                    |                            |
  1980           |  83.1   82.9   82.0   80.1   77.5   76.1   75.2   75.5   76.5   77.7   78.9   78.9 |  82.7   77.9   75.7   78.5 |     78.7
  1981           |  78.4   77.7   77.8   77.9   78.2   77.6   77.6   77.5   76.9   76.0   74.9   73.5 |  77.9   77.9   77.3   74.8 |     77.0
  1982           |  71.6   73.3   72.6   72.0   71.7   71.4   71.2   70.5   70.2   69.3   68.8   68.5 |  72.5   71.7   70.7   68.9 |     70.9
  1983           |  70.1   70.0   70.6   71.4   72.3   72.9   73.9   74.5   75.8   76.6   76.8   77.0 |  70.2   72.2   74.7   76.8 |     73.5
  1984           |  78.3   79.0   79.3   79.5   79.6   79.8   79.9   79.9   79.5   79.6   79.6   79.7 |  78.9   79.6   79.8   79.6 |     79.5
                 |                                                                                    |                            |
  1985           |  79.1   78.7   79.0   78.5   78.4   78.3   77.7   78.0   77.9   77.5   77.9   78.1 |  78.9   78.4   77.9   77.8 |     78.3
  1986           |  78.8   78.2   77.9   78.2   78.2   77.9   78.2   78.3   78.4   78.5   78.8   79.3 |  78.3   78.1   78.3   78.9 |     78.4
  1987           |  78.9   79.9   79.7   80.0   80.4   80.5   80.8   81.1   81.4   82.5   82.9   83.3 |  79.5   80.3   81.1   82.9 |     80.9
  1988           |  83.0   83.1   83.3   83.9   83.8   83.8   83.9   83.9   84.1   84.5   84.7   84.9 |  83.1   83.8   84.0   84.7 |     83.9
  1989           |  85.4   84.5   84.2   84.1   83.2   83.2   82.1   82.6   82.2   81.9   81.9   81.8 |  84.7   83.5   82.3   81.9 |     83.1
                 |                                                                                    |                            |
  1990           |  81.6   82.5   82.6   82.3   82.2   82.2   81.9   81.9   81.8   81.0   79.9   79.2 |  82.2   82.2   81.9   80.0 |     81.6
  1991           |  78.4   77.8   77.1   77.3   77.7   78.5   78.5   78.6   79.3   79.1   78.7   78.6 |  77.8   77.8   78.8   78.8 |     78.3
  1992           |  78.0   78.5   79.1   79.4   79.7   79.8   80.2   79.7   79.5   79.8   79.9   79.6 |  78.5   79.6   79.8   79.8 |     79.4
  1993           |  80.3   80.3   80.0   80.4   80.2   80.0   80.1   79.9   80.3   80.8   81.0   81.2 |  80.2   80.2   80.1   81.0 |     80.4
  1994           |  81.2   81.1   82.0   82.4   82.7   82.7   82.8   83.1   83.1   83.6   83.9   84.6 |  81.4   82.6   83.0   84.0 |     82.8
                 |                                                                                    |                            |
  1995           |  84.5   84.1   83.9   83.5   83.2   83.1   82.3   82.9   83.2   82.7   82.4   82.4 |  84.2   83.3   82.8   82.5 |     83.2
  1996           |  81.4   82.3   81.6   82.0   82.0   82.5   82.3   82.3   82.4   81.9   82.2   82.4 |  81.8   82.2   82.3   82.2 |     82.1
  1997           |  82.0   82.7   83.2   82.5   82.7   82.8   82.6   83.4   83.6   83.5   83.9   83.7 |  82.7   82.7   83.2   83.7 |     83.1
  1998           |  83.7   83.1   82.4   82.3   82.2   81.1   80.2   81.7   81.0   81.3   81.0   81.1 |  83.1   81.9   81.0   81.1 |     81.8
  1999           |  80.9   81.1   80.7   80.6   81.0   80.4   80.4   80.6   80.0   80.9   81.1   81.3 |  80.9   80.7   80.3   81.1 |     80.7
                 |                                                                                    |                            |
  2000           |  81.1   81.0   81.2   81.3   80.9   80.8   80.4   79.7   79.7   79.1   78.5   77.8 |  81.1   81.0   79.9   78.5 |     80.1
  2001           |  77.0   76.4   75.9   75.5   74.7   74.0   73.6   72.9   72.5   71.9   71.5   71.6 |  76.4   74.7   73.0   71.7 |     73.9
  2002           |  71.8   71.8   72.2   72.2   72.7   73.5   73.1   73.4   73.4   73.1   73.4   73.0 |  71.9   72.8   73.3   73.2 |     72.8
  2003           |  73.4   73.6   73.8   73.2   73.3   73.8   73.9   73.8   74.3   74.4   75.1   75.0 |  73.6   73.4   74.0   74.8 |     74.0
  2004           |  75.0   75.5   75.4   75.8   76.3   75.7   76.3   76.8   76.6   77.3   77.4   77.7 |  75.3   75.9   76.6   77.5 |     76.3
                 |                                                                                    |                            |
  2005           |  78.1   78.6   78.3   78.3   78.6   78.7   78.6   78.7   77.8   78.9   79.4   79.3 |  78.4   78.5   78.4   79.2 |     78.6
  2006           |  79.7   79.3   79.2   79.6   79.3   79.5   79.5   79.7   79.4   78.9   78.7   79.4 |  79.4   79.4   79.5   79.0 |     79.4
  2007           |  78.8   78.8   79.2   79.4   79.4   79.6   80.1   79.6   79.8   79.2   79.3   79.2 |  78.9   79.5   79.8   79.2 |     79.4
  2008           |  79.1   78.7                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 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)         |                                                                                    |                            |
  1978           |  -1.4     .4    1.7    2.1     .3     .7    -.2     .3     .2     .8     .6     .6 |  -2.0   16.3    2.7    6.6 |      4.7
  1979           |   -.8     .5     .2   -1.1     .7    -.1    -.3    -.8     .0     .5    -.2     .0 |    .9   -1.4   -2.7     .3 |      2.1
                 |                                                                                    |                            |
  1980           |    .4     .0    -.4   -2.2   -2.6   -1.3    -.7     .2    1.7    1.2    1.7     .5 |    .7  -17.0   -6.9   15.9 |     -3.6
  1981           |   -.7    -.6     .5    -.6     .7     .5     .6    -.1    -.7    -.9   -1.1   -1.2 |    .0     .6    3.6   -9.7 |       .6
  1982           |  -2.0    1.8    -.7    -.9    -.7    -.5    -.5    -.8    -.5    -.9    -.5    -.9 |  -8.6   -5.8   -6.5   -8.2 |     -6.0
  1983           |   1.9    -.7     .8    1.2     .7     .5    1.4    1.2    1.3     .7     .2     .5 |   3.7    8.5   13.7    9.6 |      1.8
  1984           |   2.0     .3     .4     .5     .4     .2     .2     .0    -.2    -.2     .3     .1 |  11.4    5.1    1.6    -.4 |      7.9
                 |                                                                                    |                            |
  1985           |   -.3     .5     .1    -.1     .1     .0    -.5     .4     .5    -.4     .3    1.1 |   1.0     .9    -.2    2.5 |      1.0
  1986           |    .5    -.8    -.7     .1     .1    -.2     .4    -.3     .1     .4     .4     .8 |   2.3   -2.6     .6    4.0 |       .9
  1987           |   -.5    1.2     .2     .5     .6     .4     .5     .6     .2    1.4     .5     .4 |   4.4    6.4    6.0    9.2 |      4.3
  1988           |    .0     .4     .2     .5    -.2     .2     .1     .5    -.4     .5     .2     .4 |   3.0    2.8    1.4    2.9 |      4.4
  1989           |    .3    -.5     .3    -.1    -.7     .0   -1.1     .9    -.3    -.2     .2     .7 |   1.8   -2.0   -3.3    1.0 |       .6
                 |                                                                                    |                            |
  1990           |   -.7     .9     .4    -.2     .1     .2    -.2     .2     .1    -.8   -1.3    -.7 |   2.4    2.2    1.0   -6.6 |       .3
  1991           |   -.5    -.8    -.6     .2     .9    1.0     .0     .1     .9    -.2    -.2    -.5 |  -8.0    2.1    5.4     .3 |     -2.0
  1992           |   -.8     .7     .8     .6     .3    -.1     .8    -.6     .1     .6     .3     .0 |  -1.8    6.2    1.7    2.8 |      1.9
  1993           |    .5     .3    -.1     .3    -.4     .2     .3    -.1     .3     .6     .3     .5 |   3.0     .5    1.5    5.1 |      2.5
  1994           |    .4    -.1     .9     .3     .4     .6     .1     .3     .0     .6     .4     .9 |   4.3    5.5    3.3    5.5 |      4.0
                 |                                                                                    |                            |
  1995           |    .2    -.2    -.2    -.3     .1     .1    -.5    1.1     .1    -.5     .1     .2 |   3.1   -1.4    1.4     .3 |      2.5
  1996           |  -1.0    1.4    -.4     .7     .5     .7    -.5     .4     .4    -.3     .8     .5 |   -.2    6.1    2.2    3.3 |      1.7
  1997           |   -.1     .9     .5    -.4     .3     .2     .3    1.0     .7     .7     .7     .2 |   5.0    2.2    6.0    8.2 |      4.2
  1998           |    .2    -.1    -.1     .3     .5    -.9    -.8    2.0    -.6     .5    -.3     .0 |   1.6    1.0    -.4    2.1 |      3.1
  1999           |    .2     .1    -.1    -.1     .6    -.5     .3     .4    -.5    1.2     .3     .6 |    .8     .4    1.0    5.6 |      1.2
                 |                                                                                    |                            |
  2000           |   -.3     .0     .1     .4    -.1     .0    -.5    -.4     .4    -.5    -.2    -.5 |    .7    1.7   -2.8   -2.8 |      1.1
  2001           |   -.7    -.5    -.3    -.1    -.6    -.5    -.3    -.3    -.5    -.6    -.5    -.1 |  -6.2   -4.3   -4.6   -5.3 |     -4.0
  2002           |    .7     .0     .7     .3     .4     .9    -.3     .0     .0    -.3     .3    -.6 |   2.7    5.8    1.6   -1.1 |       .0
  2003           |    .6     .2    -.3   -1.0    -.1     .1     .3    -.1     .5     .0     .7    -.1 |   1.3   -4.4    1.6    3.0 |       .2
  2004           |    .2     .5    -.6     .6     .7    -.9     .7     .2    -.2    1.0     .3     .6 |   1.7    2.1    1.8    5.4 |      1.8
                 |                                                                                    |                            |
  2005           |    .4     .5    -.1    -.1     .3     .4    -.2     .0   -2.1    1.1    1.0     .5 |   4.8    1.3   -1.8    2.2 |      2.7
  2006           |    .0    -.2     .2     .3    -.2     .4     .2     .0    -.5    -.1    -.2     .6 |   2.6    1.7    1.1   -1.7 |      1.3
  2007           |   -.4     .7    -.2     .4    -.1     .2     .4    -.1     .2    -.6     .4     .0 |   1.4    2.2    2.2    -.8 |       .9
  2008           |    .1    -.7                                                                       |                            |
                 |                                                                                    |                            |
 IP (2002=100)   |                                                                                    |                            |
  1978           |  71.5   71.8   73.0   74.6   74.8   75.3   75.2   75.4   75.5   76.1   76.6   77.0 |  72.1   74.9   75.4   76.6 |     74.7
  1979           |  76.4   76.8   77.0   76.1   76.7   76.6   76.4   75.7   75.7   76.1   75.9   76.0 |  76.7   76.5   76.0   76.0 |     76.3
                 |                                                                                    |                            |
  1980           |  76.3   76.2   75.9   74.3   72.3   71.4   70.9   71.0   72.2   73.1   74.4   74.7 |  76.1   72.7   71.4   74.1 |     73.6
  1981           |  74.2   73.8   74.2   73.7   74.2   74.6   75.1   75.0   74.4   73.8   73.0   72.1 |  74.1   74.2   74.8   72.9 |     74.0
  1982           |  70.7   71.9   71.4   70.7   70.2   69.9   69.6   69.0   68.7   68.1   67.7   67.1 |  71.3   70.3   69.1   67.6 |     69.6
  1983           |  68.4   67.9   68.4   69.2   69.7   70.0   71.0   71.9   72.8   73.4   73.5   73.9 |  68.2   69.7   71.9   73.6 |     70.9
  1984           |  75.3   75.6   75.9   76.3   76.6   76.8   76.9   76.9   76.7   76.6   76.8   76.9 |  75.6   76.6   76.9   76.8 |     76.5
                 |                                                                                    |                            |
  1985           |  76.7   77.1   77.2   77.1   77.2   77.2   76.8   77.1   77.5   77.2   77.4   78.2 |  77.0   77.2   77.1   77.6 |     77.2
  1986           |  78.6   78.0   77.5   77.5   77.6   77.5   77.8   77.6   77.7   78.0   78.3   79.0 |  78.1   77.5   77.7   78.4 |     77.9
  1987           |  78.6   79.5   79.7   80.1   80.6   80.9   81.3   81.8   81.9   83.1   83.5   83.8 |  79.3   80.5   81.7   83.5 |     81.2
  1988           |  83.8   84.2   84.3   84.7   84.6   84.7   84.8   85.2   84.9   85.3   85.5   85.9 |  84.1   84.7   85.0   85.6 |     84.8
  1989           |  86.1   85.7   86.0   85.9   85.3   85.3   84.4   85.2   84.9   84.7   84.9   85.5 |  86.0   85.5   84.8   85.0 |     85.3
                 |                                                                                    |                            |
  1990           |  84.9   85.6   86.0   85.8   86.0   86.2   86.0   86.2   86.3   85.7   84.6   84.0 |  85.5   86.0   86.2   84.7 |     85.6
  1991           |  83.6   82.9   82.4   82.6   83.4   84.2   84.2   84.3   85.0   84.9   84.7   84.2 |  83.0   83.4   84.5   84.6 |     83.9
  1992           |  83.6   84.2   84.8   85.3   85.6   85.5   86.1   85.6   85.7   86.3   86.5   86.5 |  84.2   85.5   85.8   86.4 |     85.5
  1993           |  86.9   87.2   87.1   87.4   87.0   87.2   87.4   87.4   87.7   88.3   88.6   89.0 |  87.1   87.2   87.5   88.6 |     87.6
  1994           |  89.3   89.2   90.0   90.3   90.7   91.2   91.3   91.6   91.6   92.1   92.5   93.4 |  89.5   90.7   91.5   92.7 |     91.1
                 |                                                                                    |                            |
  1995           |  93.6   93.4   93.2   93.0   93.1   93.2   92.7   93.7   93.8   93.4   93.4   93.6 |  93.4   93.1   93.4   93.5 |     93.3
  1996           |  92.7   94.0   93.6   94.3   94.7   95.4   94.9   95.3   95.7   95.4   96.2   96.7 |  93.4   94.8   95.3   96.1 |     94.9
  1997           |  96.5   97.4   97.9   97.5   97.8   98.0   98.3   99.3  100.0  100.7  101.4  101.6 |  97.3   97.8   99.2  101.2 |     98.9
  1998           | 101.7  101.6  101.5  101.8  102.4  101.5  100.7  102.7  102.0  102.5  102.2  102.2 | 101.6  101.9  101.8  102.3 |    101.9
  1999           | 102.5  102.6  102.5  102.4  103.0  102.5  102.8  103.2  102.7  103.9  104.2  104.8 | 102.5  102.6  102.9  104.3 |    103.1
                 |                                                                                    |                            |
  2000           | 104.4  104.4  104.5  105.0  104.9  104.9  104.3  103.9  104.3  103.7  103.6  103.0 | 104.5  104.9  104.2  103.5 |    104.3
  2001           | 102.3  101.7  101.4  101.3  100.7  100.1   99.9   99.6   99.1   98.5   98.1   97.9 | 101.8  100.7   99.5   98.2 |    100.0
  2002           |  98.6   98.6   99.3   99.6  100.1  100.9  100.6  100.6  100.6  100.3  100.7  100.0 |  98.8  100.2  100.6  100.3 |    100.0
  2003           | 100.6  100.8  100.5   99.6   99.5   99.5   99.8   99.7  100.2  100.2  100.9  100.8 | 100.7   99.5   99.9  100.6 |    100.2
  2004           | 100.9  101.4  100.8  101.4  102.1  101.3  102.0  102.2  102.0  103.0  103.3  103.9 | 101.1  101.6  102.0  103.4 |    102.0
                 |                                                                                    |                            |
  2005           | 104.3  104.8  104.7  104.6  104.9  105.3  105.2  105.2  103.0  104.2  105.2  105.8 | 104.6  104.9  104.5  105.0 |    104.8
  2006           | 105.8  105.6  105.8  106.2  106.0  106.4  106.6  106.6  106.1  106.0  105.7  106.3 | 105.7  106.2  106.5  106.0 |    106.1
  2007           | 106.0  106.7  106.5  106.9  106.9  107.1  107.5  107.4  107.6  107.0  107.5  107.5 | 106.4  107.0  107.5  107.3 |    107.1
  2008           | 107.6  106.9                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 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     |                                                                                    |                            |
 2002 output)    |                                                                                    |                            |
  1978           |  86.7   86.9   87.1   87.3   87.5   87.7   87.9   88.1   88.3   88.4   88.6   88.7 |  86.9   87.5   88.1   88.6 |     87.8
  1979           |  88.9   89.1   89.2   89.3   89.5   89.6   89.8   89.9   90.0   90.2   90.3   90.5 |  89.1   89.5   89.9   90.3 |     89.7
                 |                                                                                    |                            |
  1980           |  90.6   90.7   90.9   91.0   91.2   91.3   91.4   91.6   91.7   91.9   92.0   92.2 |  90.7   91.2   91.6   92.0 |     91.4
  1981           |  92.4   92.5   92.7   92.8   93.0   93.1   93.3   93.4   93.6   93.7   93.9   94.0 |  92.5   93.0   93.4   93.9 |     93.2
  1982           |  94.2   94.3   94.4   94.5   94.6   94.7   94.8   94.9   94.9   95.0   95.0   95.0 |  94.3   94.6   94.9   95.0 |     94.7
  1983           |  95.0   95.0   95.0   94.9   94.9   94.9   94.9   94.8   94.8   94.8   94.8   94.9 |  95.0   94.9   94.8   94.8 |     94.9
  1984           |  94.9   94.9   95.0   95.1   95.2   95.3   95.4   95.5   95.6   95.8   95.9   96.1 |  94.9   95.2   95.5   95.9 |     95.4
                 |                                                                                    |                            |
  1985           |  96.2   96.4   96.6   96.7   96.9   97.1   97.3   97.4   97.6   97.7   97.9   98.0 |  96.4   96.9   97.4   97.9 |     97.1
  1986           |  98.1   98.2   98.3   98.4   98.5   98.6   98.7   98.8   98.9   98.9   99.0   99.1 |  98.2   98.5   98.8   99.0 |     98.6
  1987           |  99.2   99.3   99.5   99.6   99.7   99.8   99.9  100.0  100.1  100.1  100.2  100.3 |  99.3   99.7  100.0  100.2 |     99.8
  1988           | 100.3  100.4  100.4  100.4  100.5  100.5  100.5  100.6  100.6  100.7  100.8  100.8 | 100.4  100.5  100.6  100.8 |    100.5
  1989           | 100.9  101.1  101.2  101.3  101.4  101.6  101.7  101.9  102.0  102.2  102.4  102.5 | 101.1  101.4  101.9  102.4 |    101.7
                 |                                                                                    |                            |
  1990           | 102.7  102.8  103.0  103.1  103.3  103.4  103.6  103.7  103.9  104.0  104.2  104.3 | 102.8  103.3  103.7  104.2 |    103.5
  1991           | 104.4  104.6  104.7  104.9  105.0  105.1  105.3  105.4  105.5  105.6  105.7  105.8 | 104.6  105.0  105.4  105.7 |    105.2
  1992           | 105.9  106.0  106.1  106.2  106.3  106.4  106.5  106.6  106.6  106.7  106.8  106.9 | 106.0  106.3  106.6  106.8 |    106.4
  1993           | 107.0  107.1  107.2  107.2  107.3  107.4  107.5  107.6  107.7  107.8  107.9  108.0 | 107.1  107.3  107.6  107.9 |    107.5
  1994           | 108.1  108.2  108.3  108.5  108.6  108.8  108.9  109.1  109.3  109.4  109.6  109.8 | 108.2  108.6  109.1  109.6 |    108.9
                 |                                                                                    |                            |
  1995           | 110.0  110.2  110.4  110.6  110.8  111.1  111.3  111.5  111.7  111.9  112.1  112.3 | 110.2  110.8  111.5  112.1 |    111.2
  1996           | 112.5  112.8  113.0  113.2  113.4  113.7  113.9  114.1  114.4  114.7  115.0  115.3 | 112.8  113.4  114.2  115.0 |    113.8
  1997           | 115.6  115.9  116.3  116.7  117.1  117.5  117.9  118.3  118.7  119.2  119.6  120.0 | 115.9  117.1  118.3  119.6 |    117.7
  1998           | 120.4  120.9  121.3  121.7  122.1  122.4  122.8  123.2  123.5  123.8  124.1  124.4 | 120.9  122.1  123.2  124.1 |    122.5
  1999           | 124.7  125.0  125.3  125.6  125.8  126.1  126.3  126.5  126.7  127.0  127.2  127.3 | 125.0  125.8  126.5  127.2 |    126.1
                 |                                                                                    |                            |
  2000           | 127.5  127.7  127.9  128.1  128.2  128.4  128.5  128.7  128.8  129.0  129.1  129.2 | 127.7  128.2  128.7  129.1 |    128.4
  2001           | 129.4  129.5  129.7  129.8  130.0  130.1  130.2  130.4  130.5  130.6  130.8  130.9 | 129.5  130.0  130.4  130.8 |    130.2
  2002           | 131.0  131.1  131.1  131.2  131.2  131.2  131.2  131.1  131.1  131.0  130.9  130.8 | 131.1  131.2  131.1  130.9 |    131.1
  2003           | 130.6  130.5  130.4  130.3  130.2  130.1  130.1  130.0  130.0  130.0  130.0  129.9 | 130.5  130.2  130.0  130.0 |    130.2
  2004           | 129.9  130.0  130.0  130.0  129.9  129.9  129.9  129.9  129.9  129.8  129.8  129.8 | 130.0  129.9  129.9  129.8 |    129.9
                 |                                                                                    |                            |
  2005           | 129.7  129.7  129.7  129.7  129.7  129.8  129.8  129.9  129.9  130.0  130.1  130.2 | 129.7  129.7  129.9  130.1 |    129.9
  2006           | 130.3  130.4  130.5  130.6  130.7  130.8  130.9  131.0  131.1  131.2  131.3  131.4 | 130.4  130.7  131.0  131.3 |    130.9
  2007           | 131.5  131.5  131.6  131.7  131.8  131.9  132.0  132.1  132.2  132.3  132.4  132.5 | 131.5  131.8  132.1  132.4 |    132.0
  2008           | 132.7  132.8                                                                       |                            |
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1978           |  82.4   82.6   83.8   85.4   85.4   85.8   85.5   85.6   85.6   86.1   86.5   86.8 |  82.9   85.5   85.6   86.4 |     85.1
  1979           |  85.9   86.3   86.3   85.2   85.7   85.5   85.1   84.3   84.1   84.4   84.1   84.0 |  86.2   85.5   84.5   84.1 |     85.1
                 |                                                                                    |                            |
  1980           |  84.2   84.0   83.6   81.6   79.4   78.2   77.5   77.6   78.7   79.5   80.8   81.1 |  83.9   79.7   77.9   80.5 |     80.5
  1981           |  80.4   79.8   80.1   79.4   79.8   80.1   80.5   80.2   79.5   78.7   77.7   76.7 |  80.1   79.8   80.1   77.7 |     79.4
  1982           |  75.0   76.3   75.6   74.8   74.2   73.8   73.4   72.7   72.4   71.7   71.3   70.6 |  75.6   74.2   72.8   71.2 |     73.5
  1983           |  72.0   71.5   72.1   72.9   73.4   73.8   74.9   75.8   76.8   77.4   77.5   77.9 |  71.9   73.4   75.8   77.6 |     74.7
  1984           |  79.4   79.6   79.9   80.2   80.5   80.6   80.7   80.5   80.2   80.0   80.1   80.1 |  79.6   80.5   80.5   80.1 |     80.2
                 |                                                                                    |                            |
  1985           |  79.7   80.0   79.9   79.7   79.6   79.5   79.0   79.2   79.4   79.0   79.1   79.8 |  79.9   79.6   79.2   79.3 |     79.5
  1986           |  80.2   79.4   78.8   78.8   78.8   78.6   78.8   78.5   78.6   78.8   79.1   79.6 |  79.5   78.7   78.6   79.2 |     79.0
  1987           |  79.2   80.1   80.1   80.4   80.8   81.1   81.4   81.8   81.9   83.0   83.3   83.6 |  79.8   80.8   81.7   83.3 |     81.4
  1988           |  83.6   83.9   84.0   84.4   84.2   84.3   84.4   84.7   84.4   84.7   84.9   85.2 |  83.8   84.3   84.5   84.9 |     84.4
  1989           |  85.3   84.8   85.0   84.8   84.1   84.0   83.0   83.6   83.2   82.9   82.9   83.4 |  85.1   84.3   83.2   83.1 |     83.9
                 |                                                                                    |                            |
  1990           |  82.7   83.3   83.5   83.2   83.2   83.3   83.0   83.1   83.1   82.4   81.2   80.5 |  83.2   83.2   83.1   81.4 |     82.7
  1991           |  80.0   79.3   78.7   78.8   79.4   80.1   80.0   80.0   80.6   80.3   80.1   79.6 |  79.3   79.5   80.2   80.0 |     79.8
  1992           |  78.9   79.4   79.9   80.4   80.5   80.3   80.9   80.3   80.4   80.8   81.0   80.9 |  79.4   80.4   80.5   80.9 |     80.3
  1993           |  81.2   81.4   81.3   81.5   81.1   81.1   81.3   81.2   81.4   81.9   82.1   82.4 |  81.3   81.2   81.3   82.1 |     81.5
  1994           |  82.6   82.5   83.1   83.3   83.5   83.9   83.8   83.9   83.8   84.2   84.4   85.0 |  82.7   83.5   83.8   84.5 |     83.7
                 |                                                                                    |                            |
  1995           |  85.0   84.7   84.4   84.1   83.9   83.9   83.3   84.1   84.0   83.4   83.3   83.3 |  84.7   84.0   83.8   83.4 |     84.0
  1996           |  82.3   83.3   82.8   83.3   83.5   83.9   83.4   83.5   83.6   83.2   83.6   83.8 |  82.8   83.6   83.5   83.6 |     83.4
  1997           |  83.5   84.0   84.2   83.6   83.6   83.5   83.4   84.0   84.3   84.5   84.8   84.6 |  83.9   83.5   83.9   84.6 |     84.0
  1998           |  84.5   84.1   83.7   83.7   83.9   82.9   82.0   83.4   82.6   82.8   82.3   82.2 |  84.1   83.5   82.7   82.4 |     83.2
  1999           |  82.1   82.1   81.8   81.5   81.9   81.3   81.4   81.6   81.0   81.8   82.0   82.3 |  82.0   81.6   81.3   82.0 |     81.7
                 |                                                                                    |                            |
  2000           |  81.9   81.8   81.8   82.0   81.8   81.7   81.2   80.8   81.0   80.4   80.2   79.7 |  81.8   81.8   81.0   80.1 |     81.2
  2001           |  79.1   78.5   78.2   78.0   77.5   77.0   76.7   76.4   75.9   75.4   75.0   74.8 |  78.6   77.5   76.3   75.1 |     76.9
  2002           |  75.3   75.2   75.7   76.0   76.3   76.9   76.7   76.7   76.8   76.6   76.9   76.5 |  75.4   76.4   76.7   76.7 |     76.3
  2003           |  77.0   77.2   77.1   76.4   76.4   76.5   76.8   76.7   77.1   77.1   77.7   77.6 |  77.1   76.4   76.8   77.4 |     77.0
  2004           |  77.7   78.1   77.6   78.0   78.6   77.9   78.5   78.6   78.5   79.3   79.6   80.1 |  77.8   78.2   78.6   79.7 |     78.5
                 |                                                                                    |                            |
  2005           |  80.4   80.8   80.8   80.6   80.9   81.2   81.0   81.0   79.3   80.1   80.9   81.2 |  80.6   80.9   80.4   80.7 |     80.7
  2006           |  81.2   81.0   81.1   81.3   81.0   81.3   81.4   81.4   80.9   80.8   80.5   80.9 |  81.1   81.2   81.2   80.7 |     81.1
  2007           |  80.6   81.1   80.9   81.2   81.1   81.2   81.4   81.3   81.4   80.9   81.1   81.1 |  80.9   81.1   81.4   81.0 |     81.1
  2008           |  81.1   80.5                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 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)         |                                                                                    |                            |
  1978           |  -1.5     .2    1.6    1.6     .2     .8    -.2     .4     .4     .7     .8     .8 |   -.4   13.3    3.2    7.7 |      5.2
  1979           |  -1.0     .4     .4   -1.6    1.2     .0     .0   -1.5     .1     .3    -.4     .2 |    .6   -1.8   -2.4   -1.5 |      2.0
                 |                                                                                    |                            |
  1980           |    .3    -.2    -.9   -2.3   -3.2   -1.6   -1.0     .6    1.7    1.8    1.9     .2 |   -.2  -20.2   -8.7   19.0 |     -4.9
  1981           |   -.5    -.7     .4     .3     .6    -.5     .2     .0    -.6   -1.2   -1.2   -1.8 |   -.6    2.1   -1.0  -11.4 |       .1
  1982           |  -2.4    2.5    -.8    -.8    -.3    -.3    -.3    -.8    -.4   -1.2    -.8    -.6 | -10.3   -3.0   -4.7   -9.5 |     -6.6
  1983           |   2.4    -.2     .9    1.1    1.2     .7    1.3     .9    1.6    1.1     .2     .2 |   8.1   11.2   14.1   11.0 |      3.7
  1984           |   1.8     .9     .3     .4     .1     .3     .3     .0    -.3     .4     .3     .4 |  11.5    4.6    2.0    1.8 |      8.5
                 |                                                                                    |                            |
  1985           |   -.4    -.2     .8    -.2     .1     .1    -.4     .6     .2    -.3     .6     .4 |    .0    1.5     .7    2.3 |      1.4
  1986           |   1.2    -.7    -.3     .4     .1    -.2     .2     .2     .2     .4     .4     .8 |   4.7    -.2    1.3    4.3 |      2.1
  1987           |   -.5    1.4     .1     .4     .7     .3     .6     .3     .5    1.5     .6     .5 |   4.7    5.9    5.5   10.5 |      4.6
  1988           |   -.2     .2     .2     .8    -.2     .0     .0     .1     .3     .5     .3     .4 |   1.8    3.6     .5    4.5 |      4.4
  1989           |    .8   -1.0    -.1     .0    -.8     .1   -1.3     .9    -.3    -.3     .1     .2 |   2.1   -3.5   -4.1    -.5 |       .4
                 |                                                                                    |                            |
  1990           |   -.2    1.4     .3    -.3     .1     .2    -.2     .3    -.1    -.9   -1.2    -.8 |   3.8    1.9     .2   -7.4 |       .0
  1991           |   -.8    -.8    -.8     .4     .6    1.1     .3     .2    1.1    -.2    -.4    -.3 |  -9.6    1.5    7.1     .9 |     -2.6
  1992           |   -.8     .9     .9     .4     .5     .1     .8    -.5    -.1     .5     .3    -.3 |  -1.1    7.0    2.6    1.3 |      2.6
  1993           |   1.1     .1    -.3     .5    -.2    -.2     .3    -.2     .5     .7     .3     .5 |   3.9     .9     .5    5.7 |      2.5
  1994           |    .1     .0    1.2     .6     .5     .2     .3     .5     .1     .7     .6    1.0 |   3.9    7.2    3.8    6.7 |      4.4
                 |                                                                                    |                            |
  1995           |    .2    -.3    -.1    -.4    -.2     .2    -.8     .9     .6    -.5    -.1     .1 |   3.1   -2.5     .2     .6 |      2.5
  1996           |  -1.2    1.4    -.5    1.0     .4     .9    -.1     .3     .4    -.4     .7     .7 |  -1.7    6.8    4.2    3.1 |      1.5
  1997           |   -.2    1.0     .9    -.7     .5     .4     .1    1.3     .6     .6     .9     .2 |   6.0    2.6    6.6    8.7 |      4.9
  1998           |    .5    -.2    -.3     .4     .4   -1.1    -.9    2.4    -.7     .7    -.1     .2 |   2.9     .1    -.8    4.0 |      3.5
  1999           |    .0     .4    -.4     .0     .8    -.7     .0     .6    -.5    1.4     .4     .4 |    .8     .3     .2    7.0 |      1.4
                 |                                                                                    |                            |
  2000           |   -.3    -.2     .3     .4    -.5     .1    -.4    -.8     .4    -.5    -.6    -.9 |    .4     .9   -3.5   -4.9 |       .8
  2001           |   -.6    -.5    -.3    -.1    -.7    -.5    -.1    -.7    -.4    -.7    -.2     .1 |  -7.3   -4.4   -4.9   -5.1 |     -4.9
  2002           |    .6     .0     .7     .0     .6    1.0    -.5     .3     .0    -.5     .3    -.7 |   3.3    5.0    2.3   -1.9 |       .0
  2003           |    .4    -.1     .1   -1.1     .0     .4     .0    -.4     .7    -.1     .9    -.3 |    .4   -3.7    1.2    3.2 |       .0
  2004           |   -.2     .6    -.2     .6     .7    -.8     .9     .6    -.3    1.0     .1     .5 |   1.1    3.5    3.7    4.9 |      2.2
                 |                                                                                    |                            |
  2005           |    .6     .6    -.3     .0     .5     .2    -.1     .1   -1.3    1.5     .7    -.1 |   5.0    1.4    -.7    4.3 |      3.3
  2006           |    .7    -.5     .0     .5    -.4     .3     .0     .2    -.3    -.6    -.2    1.0 |   1.9     .3     .5   -2.1 |      1.2
  2007           |   -.6     .1     .6     .3     .1     .4     .5    -.5     .3    -.7     .1     .0 |    .9    3.5    2.3   -2.2 |       .7
  2008           |    .0    -.4                                                                       |                            |
                 |                                                                                    |                            |
 IP (2002=100)   |                                                                                    |                            |
  1978           |  70.7   70.9   72.0   73.2   73.3   73.9   73.7   74.1   74.3   74.8   75.4   76.0 |  71.2   73.5   74.0   75.4 |     73.5
  1979           |  75.3   75.6   75.8   74.6   75.5   75.5   75.5   74.3   74.4   74.6   74.3   74.5 |  75.5   75.2   74.7   74.4 |     75.0
                 |                                                                                    |                            |
  1980           |  74.7   74.6   73.9   72.2   69.9   68.8   68.1   68.5   69.6   70.9   72.2   72.3 |  74.4   70.3   68.7   71.8 |     71.3
  1981           |  72.0   71.4   71.7   71.9   72.3   71.9   72.1   72.0   71.6   70.8   69.9   68.6 |  71.7   72.1   71.9   69.8 |     71.4
  1982           |  66.9   68.6   68.1   67.6   67.4   67.2   67.0   66.5   66.2   65.4   64.9   64.5 |  67.9   67.4   66.6   64.9 |     66.7
  1983           |  66.1   66.0   66.5   67.3   68.1   68.6   69.4   70.1   71.2   71.9   72.1   72.2 |  66.2   68.0   70.2   72.1 |     69.1
  1984           |  73.5   74.2   74.5   74.8   74.9   75.1   75.4   75.4   75.1   75.4   75.6   75.9 |  74.1   74.9   75.3   75.6 |     75.0
                 |                                                                                    |                            |
  1985           |  75.6   75.4   76.0   75.8   75.9   76.0   75.7   76.2   76.3   76.1   76.5   76.9 |  75.6   75.9   76.1   76.5 |     76.0
  1986           |  77.8   77.3   77.0   77.3   77.4   77.3   77.4   77.6   77.7   78.0   78.3   78.9 |  77.4   77.3   77.6   78.4 |     77.7
  1987           |  78.5   79.6   79.7   80.0   80.5   80.8   81.2   81.5   81.9   83.1   83.6   84.0 |  79.3   80.4   81.5   83.6 |     81.2
  1988           |  83.8   83.9   84.2   84.8   84.6   84.7   84.7   84.8   85.0   85.5   85.7   86.1 |  84.0   84.7   84.8   85.8 |     84.8
  1989           |  86.8   85.9   85.9   85.9   85.2   85.3   84.2   84.9   84.6   84.4   84.4   84.6 |  86.2   85.4   84.6   84.5 |     85.2
                 |                                                                                    |                            |
  1990           |  84.4   85.6   85.8   85.5   85.6   85.8   85.6   85.8   85.7   85.0   84.0   83.3 |  85.2   85.7   85.7   84.1 |     85.2
  1991           |  82.6   82.0   81.3   81.6   82.1   83.1   83.3   83.5   84.3   84.2   83.9   83.6 |  82.0   82.3   83.7   83.9 |     83.0
  1992           |  82.9   83.7   84.4   84.8   85.2   85.3   86.0   85.5   85.5   85.8   86.1   85.9 |  83.7   85.1   85.6   85.9 |     85.1
  1993           |  86.8   86.8   86.6   87.1   87.0   86.8   87.0   86.9   87.3   87.9   88.2   88.6 |  86.7   86.9   87.0   88.3 |     87.2
  1994           |  88.8   88.8   89.8   90.3   90.8   90.9   91.2   91.7   91.7   92.4   92.9   93.8 |  89.1   90.7   91.5   93.0 |     91.1
                 |                                                                                    |                            |
  1995           |  94.0   93.7   93.6   93.2   93.0   93.2   92.5   93.3   93.8   93.4   93.3   93.4 |  93.7   93.2   93.2   93.4 |     93.4
  1996           |  92.3   93.6   93.1   94.0   94.4   95.2   95.1   95.5   95.9   95.5   96.2   96.9 |  93.0   94.5   95.5   96.2 |     94.8
  1997           |  96.7   97.7   98.5   97.8   98.3   98.7   98.8  100.1  100.7  101.3  102.2  102.4 |  97.6   98.3   99.9  102.0 |     99.4
  1998           | 102.9  102.8  102.4  102.9  103.2  102.1  101.2  103.6  102.8  103.5  103.4  103.6 | 102.7  102.7  102.5  103.5 |    102.9
  1999           | 103.6  104.1  103.6  103.5  104.3  103.6  103.6  104.3  103.7  105.2  105.7  106.1 | 103.8  103.8  103.9  105.7 |    104.3
                 |                                                                                    |                            |
  2000           | 105.8  105.6  106.0  106.3  105.8  105.9  105.5  104.7  105.1  104.5  103.9  103.0 | 105.8  106.0  105.1  103.8 |    105.2
  2001           | 102.3  101.8  101.4  101.3  100.6  100.1  100.0   99.3   99.0   98.2   98.0   98.1 | 101.8  100.7   99.4   98.1 |    100.0
  2002           |  98.7   98.7   99.4   99.4  100.0  101.0  100.5  100.8  100.8  100.3  100.6   99.9 |  98.9  100.1  100.7  100.2 |    100.0
  2003           | 100.3  100.3  100.4   99.3   99.2   99.7   99.7   99.3  100.1  100.0  100.9  100.6 | 100.3   99.4   99.7  100.5 |    100.0
  2004           | 100.4  101.0  100.8  101.4  102.1  101.3  102.2  102.8  102.5  103.5  103.6  104.1 | 100.7  101.6  102.5  103.7 |    102.2
                 |                                                                                    |                            |
  2005           | 104.7  105.4  105.0  105.0  105.5  105.7  105.6  105.7  104.4  105.9  106.6  106.5 | 105.0  105.4  105.2  106.3 |    105.5
  2006           | 107.2  106.6  106.6  107.1  106.7  107.0  107.0  107.2  106.9  106.2  106.1  107.1 | 106.8  106.9  107.0  106.5 |    106.8
  2007           | 106.4  106.5  107.2  107.5  107.5  107.9  108.5  108.0  108.3  107.5  107.7  107.7 | 106.7  107.6  108.3  107.6 |    107.6
  2008           | 107.7  107.3                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 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     |                                                                                    |                            |
 2002 output)    |                                                                                    |                            |
  1978           |  85.9   86.1   86.3   86.5   86.7   86.9   87.1   87.3   87.4   87.6   87.8   88.0 |  86.1   86.7   87.3   87.8 |     87.0
  1979           |  88.2   88.3   88.5   88.7   88.9   89.0   89.2   89.4   89.6   89.7   89.9   90.0 |  88.3   88.9   89.4   89.9 |     89.1
                 |                                                                                    |                            |
  1980           |  90.2   90.4   90.5   90.7   90.9   91.0   91.2   91.4   91.6   91.8   92.0   92.1 |  90.4   90.9   91.4   92.0 |     91.2
  1981           |  92.3   92.5   92.7   92.9   93.0   93.2   93.3   93.5   93.6   93.8   93.9   94.0 |  92.5   93.0   93.5   93.9 |     93.2
  1982           |  94.2   94.3   94.4   94.5   94.6   94.6   94.7   94.8   94.8   94.8   94.8   94.8 |  94.3   94.6   94.8   94.8 |     94.6
  1983           |  94.8   94.8   94.8   94.7   94.7   94.6   94.6   94.5   94.5   94.5   94.5   94.5 |  94.8   94.7   94.5   94.5 |     94.6
  1984           |  94.5   94.5   94.6   94.7   94.7   94.9   95.0   95.1   95.3   95.4   95.6   95.8 |  94.5   94.8   95.1   95.6 |     95.0
                 |                                                                                    |                            |
  1985           |  96.0   96.2   96.4   96.6   96.8   97.0   97.2   97.3   97.5   97.6   97.8   97.9 |  96.2   96.8   97.3   97.8 |     97.0
  1986           |  98.0   98.1   98.2   98.3   98.4   98.5   98.6   98.7   98.8   98.9   99.0   99.1 |  98.1   98.4   98.7   99.0 |     98.5
  1987           |  99.3   99.4   99.6   99.7   99.8  100.0  100.1  100.2  100.3  100.4  100.5  100.5 |  99.4   99.8  100.2  100.4 |    100.0
  1988           | 100.5  100.6  100.6  100.6  100.6  100.7  100.7  100.7  100.8  100.8  100.9  101.0 | 100.6  100.6  100.7  100.9 |    100.7
  1989           | 101.2  101.3  101.4  101.6  101.7  101.9  102.1  102.3  102.5  102.6  102.8  103.0 | 101.3  101.8  102.3  102.8 |    102.0
                 |                                                                                    |                            |
  1990           | 103.2  103.3  103.5  103.6  103.8  104.0  104.1  104.3  104.4  104.6  104.7  104.9 | 103.3  103.8  104.3  104.7 |    104.0
  1991           | 105.1  105.2  105.4  105.5  105.7  105.8  105.9  106.1  106.2  106.3  106.5  106.6 | 105.2  105.7  106.1  106.5 |    105.8
  1992           | 106.7  106.8  106.9  107.0  107.1  107.2  107.3  107.4  107.5  107.6  107.7  107.8 | 106.8  107.1  107.4  107.7 |    107.2
  1993           | 107.9  108.0  108.1  108.2  108.4  108.5  108.6  108.7  108.8  108.9  109.0  109.1 | 108.0  108.4  108.7  109.0 |    108.5
  1994           | 109.2  109.3  109.5  109.6  109.7  109.9  110.1  110.2  110.4  110.6  110.8  111.0 | 109.3  109.8  110.2  110.8 |    110.0
                 |                                                                                    |                            |
  1995           | 111.2  111.4  111.6  111.9  112.1  112.3  112.6  112.8  113.1  113.3  113.6  113.8 | 111.4  112.1  112.8  113.6 |    112.5
  1996           | 114.1  114.3  114.6  114.8  115.1  115.3  115.6  115.9  116.2  116.5  116.8  117.1 | 114.3  115.1  115.9  116.8 |    115.5
  1997           | 117.5  117.9  118.3  118.7  119.1  119.6  120.1  120.6  121.1  121.6  122.1  122.5 | 117.9  119.2  120.6  122.1 |    119.9
  1998           | 123.0  123.5  124.0  124.4  124.9  125.3  125.7  126.2  126.5  126.9  127.3  127.6 | 123.5  124.9  126.1  127.3 |    125.5
  1999           | 128.0  128.3  128.6  128.9  129.3  129.6  129.9  130.1  130.4  130.7  131.0  131.2 | 128.3  129.3  130.1  131.0 |    129.7
                 |                                                                                    |                            |
  2000           | 131.5  131.7  132.0  132.2  132.4  132.6  132.8  133.0  133.2  133.4  133.6  133.8 | 131.7  132.4  133.0  133.6 |    132.7
  2001           | 133.9  134.0  134.2  134.3  134.4  134.5  134.5  134.6  134.6  134.7  134.7  134.7 | 134.0  134.4  134.6  134.7 |    134.4
  2002           | 134.7  134.7  134.7  134.6  134.6  134.5  134.4  134.4  134.3  134.2  134.1  134.0 | 134.7  134.6  134.4  134.1 |    134.4
  2003           | 133.9  133.8  133.7  133.6  133.5  133.4  133.4  133.3  133.2  133.2  133.1  133.1 | 133.8  133.5  133.3  133.1 |    133.4
  2004           | 133.0  133.0  133.0  132.9  132.9  132.9  132.9  132.9  132.9  132.9  132.9  132.9 | 133.0  132.9  132.9  132.9 |    132.9
                 |                                                                                    |                            |
  2005           | 132.9  133.0  133.0  133.1  133.1  133.2  133.3  133.4  133.5  133.7  133.8  133.9 | 133.0  133.2  133.4  133.8 |    133.3
  2006           | 134.0  134.1  134.2  134.3  134.4  134.5  134.6  134.6  134.7  134.8  134.8  134.9 | 134.1  134.4  134.6  134.8 |    134.5
  2007           | 135.0  135.1  135.1  135.2  135.3  135.4  135.5  135.6  135.7  135.8  135.9  136.0 | 135.1  135.3  135.6  135.9 |    135.5
  2008           | 136.1  136.2                                                                       |                            |
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1978           |  82.3   82.3   83.4   84.6   84.6   85.0   84.7   84.9   85.0   85.4   85.9   86.4 |  82.7   84.7   84.9   85.9 |     84.6
  1979           |  85.3   85.5   85.7   84.1   84.9   84.8   84.6   83.2   83.1   83.2   82.6   82.7 |  85.5   84.6   83.6   82.8 |     84.1
                 |                                                                                    |                            |
  1980           |  82.8   82.5   81.6   79.6   76.9   75.6   74.7   74.9   76.0   77.2   78.5   78.5 |  82.3   77.4   75.2   78.1 |     78.3
  1981           |  77.9   77.2   77.4   77.5   77.8   77.2   77.2   77.1   76.5   75.5   74.4   73.0 |  77.5   77.5   76.9   74.3 |     76.5
  1982           |  71.1   72.8   72.1   71.5   71.2   71.0   70.7   70.2   69.8   68.9   68.4   68.0 |  72.0   71.2   70.2   68.5 |     70.5
  1983           |  69.7   69.6   70.2   71.0   71.9   72.5   73.4   74.2   75.3   76.2   76.3   76.5 |  69.8   71.8   74.3   76.3 |     73.1
  1984           |  77.8   78.5   78.8   79.0   79.0   79.2   79.3   79.3   78.9   79.0   79.1   79.2 |  78.4   79.1   79.2   79.1 |     78.9
                 |                                                                                    |                            |
  1985           |  78.7   78.4   78.8   78.5   78.4   78.4   77.9   78.3   78.3   77.9   78.3   78.5 |  78.6   78.4   78.1   78.2 |     78.4
  1986           |  79.4   78.8   78.4   78.7   78.7   78.5   78.6   78.6   78.7   78.8   79.1   79.6 |  78.9   78.6   78.6   79.2 |     78.8
  1987           |  79.1   80.1   80.1   80.2   80.7   80.8   81.1   81.3   81.6   82.8   83.2   83.6 |  79.8   80.6   81.4   83.2 |     81.2
  1988           |  83.3   83.5   83.7   84.3   84.1   84.1   84.1   84.1   84.3   84.7   84.9   85.2 |  83.5   84.2   84.2   85.0 |     84.2
  1989           |  85.8   84.9   84.7   84.5   83.7   83.7   82.4   83.0   82.6   82.2   82.1   82.1 |  85.1   84.0   82.7   82.1 |     83.5
                 |                                                                                    |                            |
  1990           |  81.8   82.8   82.9   82.5   82.5   82.5   82.2   82.3   82.1   81.3   80.2   79.4 |  82.5   82.5   82.2   80.3 |     81.9
  1991           |  78.7   77.9   77.2   77.4   77.7   78.5   78.6   78.7   79.4   79.2   78.8   78.5 |  77.9   77.9   78.9   78.8 |     78.4
  1992           |  77.8   78.4   79.0   79.3   79.6   79.6   80.1   79.6   79.5   79.8   79.9   79.6 |  78.4   79.5   79.8   79.8 |     79.3
  1993           |  80.4   80.4   80.1   80.5   80.3   80.0   80.2   79.9   80.2   80.7   80.9   81.2 |  80.3   80.2   80.1   81.0 |     80.4
  1994           |  81.3   81.2   82.0   82.4   82.7   82.7   82.9   83.2   83.1   83.5   83.9   84.5 |  81.5   82.6   83.0   84.0 |     82.8
                 |                                                                                    |                            |
  1995           |  84.5   84.1   83.8   83.3   83.0   83.0   82.2   82.7   83.0   82.4   82.1   82.1 |  84.1   83.1   82.6   82.2 |     83.0
  1996           |  80.9   81.9   81.2   81.8   82.0   82.5   82.3   82.4   82.5   82.0   82.4   82.7 |  81.3   82.1   82.4   82.4 |     82.1
  1997           |  82.3   82.9   83.3   82.4   82.5   82.5   82.3   83.0   83.2   83.3   83.7   83.6 |  82.8   82.5   82.8   83.5 |     82.9
  1998           |  83.6   83.2   82.6   82.6   82.7   81.5   80.5   82.1   81.3   81.6   81.3   81.2 |  83.1   82.3   81.3   81.3 |     82.0
  1999           |  81.0   81.1   80.5   80.3   80.7   80.0   79.8   80.1   79.5   80.5   80.7   80.9 |  80.9   80.3   79.8   80.7 |     80.4
                 |                                                                                    |                            |
  2000           |  80.4   80.2   80.3   80.4   79.9   79.8   79.4   78.7   78.8   78.3   77.7   77.0 |  80.3   80.1   79.0   77.7 |     79.3
  2001           |  76.4   75.9   75.6   75.5   74.9   74.4   74.3   73.8   73.5   72.9   72.8   72.8 |  76.0   74.9   73.9   72.8 |     74.4
  2002           |  73.3   73.3   73.8   73.8   74.3   75.1   74.8   75.0   75.1   74.7   75.0   74.5 |  73.4   74.4   74.9   74.7 |     74.4
  2003           |  74.9   74.9   75.1   74.3   74.3   74.7   74.7   74.5   75.1   75.1   75.8   75.6 |  75.0   74.4   74.8   75.5 |     74.9
  2004           |  75.5   75.9   75.8   76.3   76.8   76.2   76.9   77.4   77.2   77.9   78.0   78.3 |  75.7   76.4   77.2   78.1 |     76.9
                 |                                                                                    |                            |
  2005           |  78.8   79.2   79.0   78.9   79.3   79.3   79.2   79.2   78.1   79.2   79.7   79.5 |  79.0   79.2   78.9   79.5 |     79.1
  2006           |  80.0   79.5   79.4   79.7   79.4   79.5   79.5   79.6   79.4   78.8   78.6   79.4 |  79.7   79.5   79.5   79.0 |     79.4
  2007           |  78.8   78.9   79.3   79.5   79.5   79.7   80.1   79.6   79.8   79.2   79.3   79.2 |  79.0   79.6   79.8   79.2 |     79.4
  2008           |  79.1   78.8                                                                       |                            |
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from October 2007 through February 2008 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                                                       |         NAICS |       2000        2001        2002        2003        2004        2005        2006        2007
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                            |               |
  Total IP                                                  |               |      100.0       100.0       100.0       100.0       100.0       100.0       100.0       100.0
                                                            |               |
  MARKET GROUP                                              |               |
  Final products and nonindustrial supplies                 |               |       57.2        58.7        58.5        57.8        56.6        56.6        56.5        56.1
     Consumer goods                                         |               |       28.3        29.8        30.8        30.7        29.9        29.6        29.1        29.3
        Durable                                             |               |        7.8         8.1         8.9         8.7         7.9         7.4         7.0         6.7
           Automotive products                              |               |        3.7         4.0         4.7         4.6         4.0         3.6         3.3         3.2
           Home electronics                                 |               |         .4          .4          .4          .4          .4          .3          .3          .3
           Appliances, furniture, carpeting                 |               |        1.4         1.4         1.4         1.4         1.3         1.3         1.2         1.1
           Miscellaneous goods                              |               |        2.3         2.3         2.4         2.3         2.2         2.2         2.2         2.1
        Nondurable                                          |               |       20.5        21.7        21.9        22.0        22.0        22.2        22.1        22.7
           Non-energy                                       |               |       16.8        17.9        18.0        17.8        17.1        16.5        16.2        16.3
              Foods and tobacco                             |               |        9.3         9.9         9.7         9.7         9.4         9.0         8.8         9.0
              Clothing                                      |               |        1.2         1.1          .9          .8          .7          .6          .6          .5
              Chemical products                             |               |        3.9         4.4         4.9         4.9         4.8         4.7         4.8         4.7
              Paper products                                |               |        1.9         2.0         2.0         1.8         1.7         1.7         1.6         1.6
           Energy                                           |               |        3.7         3.8         3.9         4.2         4.9         5.7         5.8         6.4
                                                            |               |
     Business equipment                                     |               |       11.6        11.2        10.2         9.6         9.4         9.3         9.6         9.4
        Transit                                             |               |        2.0         2.0         1.8         1.6         1.6         1.6         1.8         1.7
        Information processing                              |               |        4.1         3.8         3.1         2.9         2.9         2.8         2.8         2.7
        Industrial and other                                |               |        5.6         5.3         5.3         5.0         4.9         4.9         5.0         5.0
     Defense and space equipment                            |               |        1.5         1.8         1.8         1.8         1.7         1.8         1.7         1.7
                                                            |               |
     Construction supplies                                  |               |        4.2         4.3         4.3         4.3         4.3         4.4         4.4         4.2
     Business supplies                                      |               |       11.1        11.1        11.0        11.0        10.8        10.9        10.8        10.6
                                                            |               |
  Materials                                                 |               |       42.8        41.3        41.5        42.2        43.4        43.4        43.5        43.9
     Non-energy                                             |               |       32.1        30.6        30.5        30.0        30.0        29.6        29.6        29.3
        Durable                                             |               |       20.8        19.5        19.0        18.6        18.5        18.1        18.0        17.5
           Consumer parts                                   |               |        4.1         3.8         4.0         3.8         3.5         3.3         3.1         2.9
           Equipment parts                                  |               |        8.1         7.3         6.6         6.5         6.4         6.2         6.1         6.0
           Other                                            |               |        8.6         8.4         8.4         8.3         8.6         8.6         8.8         8.6
        Nondurable                                          |               |       11.3        11.2        11.5        11.4        11.5        11.5        11.6        11.7
           Textile                                          |               |         .9          .8          .8          .7          .7          .7          .6          .5
           Paper                                            |               |        2.8         2.8         2.7         2.5         2.4         2.3         2.3         2.2
           Chemical                                         |               |        4.2         4.1         4.5         4.6         5.2         5.4         5.5         5.8
     Energy                                                 |               |       10.6        10.6        11.0        12.2        13.3        13.8        13.9        14.6
                                                            |               |
                                                            |               |
  INDUSTRY GROUP                                            |               |
  Manufacturing                                             |               |       84.0        83.5        83.2        81.7        80.5        79.5        79.2        78.7
     Manufacturing (NAICS)                                  |        31-33  |       79.2        78.6        78.5        77.2        76.2        75.4        75.4        75.0
                                                            |               |
        Durable manufacturing                               |               |       45.3        44.0        43.2        42.0        40.7        39.6        39.6        38.5
           Wood products                                    |          321  |        1.4         1.4         1.5         1.6         1.6         1.5         1.4         1.2
           Nonmetallic mineral products                     |          327  |        2.2         2.2         2.2         2.2         2.2         2.3         2.3         2.2
           Primary metal                                    |          331  |        2.5         2.3         2.3         2.3         2.7         2.6         2.8         2.7
           Fabricated metal products                        |          332  |        6.0         5.8         5.7         5.5         5.3         5.3         5.5         5.6
           Machinery                                        |          333  |        5.9         5.5         5.3         5.0         4.9         4.9         5.0         4.9
           Computer and electronic products                 |          334  |       10.4         9.4         8.1         7.9         7.8         7.4         7.2         6.8
           Electrical equipment, appliances,                |               |
              and components                                |          335  |        2.5         2.4         2.2         2.0         1.9         1.9         1.9         1.9
           Motor vehicles and parts                         |       3361-3  |        6.6         6.5         7.4         7.2         6.4         5.9         5.5         5.1
           Aerospace and miscellaneous                      |               |
              transportation equipment                      |       3364-9  |        3.2         3.7         3.5         3.3         3.1         3.2         3.3         3.5
           Furniture and related products                   |          337  |        1.7         1.7         1.8         1.7         1.6         1.6         1.5         1.4
           Miscellaneous                                    |          339  |        2.9         3.1         3.3         3.3         3.1         3.1         3.1         3.1
                                                            |               |
        Nondurable manufacturing                            |               |       33.9        34.6        35.3        35.2        35.5        35.8        35.7        36.5
           Food, beverage, and tobacco products             |        311,2  |       10.6        11.3        11.3        11.4        10.9        10.5        10.4        10.7
           Textile and product mills                        |        313,4  |        1.4         1.3         1.4         1.3         1.2         1.2         1.0          .9
           Apparel and leather                              |        315,6  |        1.3         1.2         1.0          .9          .7          .6          .6          .6
           Paper                                            |          322  |        3.1         3.1         3.1         2.9         2.7         2.6         2.6         2.5
           Printing and support                             |          323  |        2.6         2.6         2.4         2.2         2.1         2.0         1.9         1.9
           Petroleum and coal products                      |          324  |        1.8         1.7         1.8         2.1         3.2         4.2         4.5         5.2
           Chemical                                         |          325  |        9.3         9.7        10.7        10.8        11.2        11.3        11.4        11.6
           Plastics and rubber products                     |          326  |        3.7         3.7         3.8         3.6         3.4         3.3         3.2         3.0
                                                            |               |
     Other manufacturing (non-NAICS)                        |    1133,5111  |        4.8         4.8         4.7         4.5         4.3         4.1         3.9         3.7
                                                            |               |
  Mining                                                    |           21  |        7.1         7.1         7.2         8.5         9.8        10.7        11.0        11.6
  Utilities                                                 |       2211,2  |        8.9         9.4         9.6         9.8         9.7         9.8         9.7         9.7
     Electric                                               |         2211  |        7.6         8.0         8.2         8.2         8.0         8.0         8.1         8.0
     Natural gas                                            |         2212  |        1.4         1.4         1.4         1.6         1.7         1.8         1.6         1.7
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 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 2007 and 2008 would
     account for a .385 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.  More detailed descriptions of
 industrial production and capacity utilization 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 2002.  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 production-worker
 hours by industry.  Data on hours worked by production workers are
 collected in the monthly establishment survey conducted by the Bureau of
 Labor Statistics.  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 (p_m) and the estimate for previous month:
 %     Equation not available in ascii file.
 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 8 percent.  If output in this industry increased 10 percent in a month,
 then this gain would boost growth in total IP by 8/10 percentage point
 (0.08 x 10% = 0.8%).  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, beginning with the release of
 March 2008 data, subject to revision in each of the subsequent five
 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 70 percent of the source data (in
 value-added terms) are available; the fraction of available source
 data increases to 84 percent for estimates in the second month that
 the estimate is published, 98 percent in the third month, and 98
 percent in the fourth month. Data availability by data type, based on
 the four-month reporting window used in 2007, is summarized in the
 table below:
   Availability of Monthly IP Data in Publication Window
   (Percent of value added in 2007)
                                 Month of estimate
     Type of data                1st  2nd  3rd  4th
     Physical product            29   42   56   56
     Production-worker hours     42   42   42   42
     IP data received            70   84   98   98
     IP data estimated           30   16    2    2
 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 (29 percent out of total of 56 percent).  Of the
 29 percent, about two-thirds (19 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. The incorporation of a six-month window is
 expected to allow an additional 3 percent to 4 percent of IP to
 reflect primary source data.
 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 Jmnuary 2008;
 for other series, the factors were estimated with data through at least
 September 2007.  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 0.26 percent
 during the 1987-2006 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 1987-2006 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 87 detailed industries
 (69 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 25 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 70 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 5 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 1972-2007 period, the average total industry
 utilization rate was 81.0 percent; for manufacturing, the average factory
 operating rate was 79.7 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.
 References and Release Dates
 References.  The annual revision published in November 2005 is described
 in an article published in the Federal Reserve Bulletin, vol. 92,
 pp. A39-A58.  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, Winter 2005).
 Release Schedule
 At 9:15 a.m. on
 2008: January 16, February 15, March 17, April 16, May 15, June 17,
 July 16, August 15, September 15, October 16, November 17, and
 December 15.