FEDERAL RESERVE statistical release

G.17 (419) 2021 Historical and Annual Revision For release at 12:00 noon (EDT)

May 28, 2021

Industrial Production and Capacity Utilization: The 2021 Annual Revision

The Federal Reserve has revised its index of industrial production (IP) and the related measures of

capacity and capacity utilization. The most prominent features of the revision are an update of the base year to

2017 for the indexes, a conversion of the industry-group indexes to the 2017 North American Industry

Classification System (NAICS), the incorporation of comprehensive annual production data for 2017 through

2019, and the incorporation of new survey utilization rate data for 2019 and 2020.1

On net, the revisions to total IP for recent years are negative. Notably, the updated rates of change are 1

to 11/2 percentage points lower per year from 2017 through 2019.2 The cumulative effect of these revisions leaves

the level of total IP in April 2021 about 31/2 percent below its late-2007 peak before the Great Recession;

previously, total IP in April 2021 was slightly above its peak before the Great Recession. The incorporation of

detailed data for manufacturing from the U.S. Census Bureau’s 2017 Economic Census (EC) and the 2018 and

2019 Annual Surveys of Manufactures (ASMs) accounts for the majority of the differences between the current

and the previously published estimates. The revisions to the rates of change for 2020 are small, and the

magnitude of the sharp drop (17 percent) in total IP at the onset of the pandemic in early 2020 is very similar to

the magnitude reported earlier.

Annual capacity growth is revised down about 1 percentage point, on average, from 2017 to 2019 and is

little changed in 2020. After these revisions, capacity for total industry is estimated to have grown about

3 percent less between 2016 and the end of 2020 than previously estimated.

In the fourth quarter of 2020, capacity utilization for total industry stood at 73.4 percent, about

1/2 percentage point below its previous estimate and about 61/4 percentage points below its long-run (1972–2020)

average. The utilization rate for 2019 is also about 1/2 percentage point lower than the previous estimate, but

revisions to utilization rates for 2017 and 2018 are very small.

This revision incorporated newly available annual data on both output and prices. As noted earlier, the

updated IP indexes incorporated new data for manufacturing from the U.S. Census Bureau’s 2017 EC and the

2018 and 2019 ASMs. For publishing, the IP indexes folded in data for 2017 from the EC and data for 2018 and

2019 from the Census Bureau’s Service Annual Survey. The IP index for logging is based on special calculations

provided by the U.S. Forest Service that extended previously published data; the IP index incorporated new data

for 2018 and 2019 and revised data for 2016 and 2017. In addition, the indexes for metallic and nonmetallic

minerals were updated with revised annual data for 2015 through 2017 and with new data for 2018 and 2019

from the U.S. Geological Survey (USGS). Data on prices from the Bureau of Labor Statistics (BLS) were also

incorporated into most of the manufacturing indexes.

1The revision affected rates of change for IP from 1972 forward. When necessary to maintain consistency with any revisions to the data for 1972 and subsequent years,

the levels of production for the years before 1972 were multiplied by a constant. However, the rates of change in IP for the years before 1972 were not revised. Utilization

rates and capacity growth rates were revised minimally between 1968 and 1971 but were unchanged before then.

2Rates of change are calculated as the percentage change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year

specified.

1
The monthly estimates of production have been updated to include late-arriving or revised quarterly or

monthly indicator data, including information from the BLS’s benchmark revisions to the Current Employment

Statistics. The monthly IP estimates reflect updated seasonal factors.

The revised estimates of capacity and capacity utilization incorporated data from the Census Bureau’s

Quarterly Survey of Plant Capacity Utilization (QSPC) for the fourth quarters of 2019 and 2020 along with new

data on capacity from the USGS, the Energy Information Administration, and other organizations. The revised

capacity estimates also included new data on capital spending from the 2017 EC and the 2018 and 2019 ASMs.

RESULTS OF THE REVISION

Industrial Production

Manufacturing output is now estimated to have risen about 11/4 percent in 2017 and about 3/4 percent in

2018 before falling back about 21/2 percent in 2019 and in 2020. The gains in factory output for 2017 and 2018

are now both estimated to be smaller than reported earlier, the fall in 2019 is now reported to be steeper, and the

net decline over the course of 2020 is about the same as previously estimated. The cumulative effect of these

revisions leaves manufacturing IP in April 2021 about 10 percent below its peak before the Great Recession, a

difference that is about 4 percentage points larger than reported earlier.

The contour for mining output shows sharp gains in 2017 and 2018, little change in 2019, and a

precipitous drop in 2020. Relative to earlier estimates, the rates of change in 2017 and 2018 are a bit stronger,

whereas the estimates for 2019 and 2020 are lower by about 2 and 3 percentage points, respectively. The rates of

change for utilities output are little changed by the revision.

Production by Industry Group

The output of durable goods manufacturers is now reported to have increased solidly in 2017 and 2018

before falling back in 2019 and 2020. Relative to the previous estimates, the gain in the index in 2017 is about

the same, and the gain in 2018 is smaller; the drop in 2019 is now steeper, whereas the decline in 2020 is more

gradual. The downward revisions for 2018 and 2019 are broadly based across durable goods industries, as is the

upward revision for 2020.

The contour of the index for nondurables now shows a notable decline between 2016 and 2020;

previously the index showed a net gain over this period. The rates of change are now lower in each year in the

2016–2020 period. In particular, nondurables production is now reported to have edged down in 2017, whereas it

was estimated earlier to have posted a sizable gain. Within nondurables, the revisions to the rates of change were

mixed, but a few indexes—principally food, beverage, and tobacco products and chemicals—had large

downward revisions.

The output index for industries in scope for manufacturing IP that are not part of manufacturing under the

NAICS—that is, logging and publishing—has been recording declines for several years, and it continued to fall

each year in the 2017–2020 period. However, the declines are now reported to have generally been smaller in

each year, particularly in 2018, than previously published.

Production by Market Group

The index for consumer goods now shows a modest net decline between 2016 and 2019, whereas it was

previously reported to have increased somewhat; the index now falls a bit more in 2020 than published earlier.

The rate of change for business equipment is revised up in 2017 and then revised down notably for 2018 through

2020. There are downward revisions to the rates of change for most recent years in both construction supplies

2
and business supplies. Relative to earlier reports, the index for materials increased less in 2017 and 2018, and it

decreased more in 2019; the decline in 2020 is little changed. On net, there are downward revisions for both the

energy and non-energy components.

Capacity

Total industrial capacity rose modestly, on net, between 2017 and 2020, driven by increases in capacity

for both mining and utilities; the overall gain in this period is significantly smaller than published earlier.

Notably, capacity is now reported to have declined about 1 percent in 2017, whereas it was previously reported to

have increased by about the same amount. Capacity grew about 11/2 percent in 2019, was unchanged in 2020,

and is expected to increase about 1/2 percent in 2021.

Manufacturing capacity is now reported to have contracted close to 1/2 percent per year, on average, from

2017 to 2020, with a particularly sizable contraction in 2017. The new contour contrasts with the previous path,

which showed a considerable net gain over the 2017–2020 period. Downward revisions to capacity growth are

widespread across durable and nondurable manufacturing industries. The one exception is transportation

equipment, for which capacity growth revised upward.

Capacity at mines rose from 2017 to 2020, though by somewhat less than what was previously published,

as a result of lower capacity increases in oil and gas mining. Relative to earlier reports, the growth in mining

capacity was significantly smaller in 2018 and significantly higher in 2019. For 2020, capacity at mines is now

reported to have expanded modestly; previously, it was reported to have contracted. The capacity measures for

both electric and gas utilities are now reported to have increased more slowly between 2017 and 2020 than stated

earlier.

Capacity Utilization

Capacity utilization for total industry rose in 2017 and 2018 but decreased in 2019 and 2020.3 The recent

declines resulted from a substantial reduction in the operating rate for mining and from smaller reductions in the

rates for both manufacturing and utilities. Compared with earlier estimates, capacity utilization for total industry

is now reported to have been about 1/2 percentage point lower for 2019 and 2020 and little changed in earlier

years.

Utilization at manufacturers rose in 2017 and 2018 and then moved down in 2019 and 2020. The current

readings for manufacturing utilization are noticeably higher for 2017 through 2020, as capacity revised down by

more than output. Manufacturing utilization moved down 11/2 percentage points during 2020, leaving the

utilization rate for the fourth quarter of 2020 about 41/4 percentage points below its long-run average. Within

manufacturing, upward revisions to utilization rates are fairly widespread in both nondurables and durables,

though the operating rate in the motor vehicle industry revised down noticeably.

The utilization rate for durable manufacturing was above its long-run average in 2018 but retreated to

about 73 percent in the fourth quarter of 2020, 31/2 percentage points below its long-run average. Of the 10 major

categories of durables, only 3 recorded operating rates in the fourth quarter of 2020 that were above their

long-run averages. The utilization rate for nondurable manufacturing was 75.5 percent at the end of 2020, almost

41/2 percentage points below its long-run average. As of the fourth quarter of 2020, the operating rate for each

major nondurable manufacturing industry group was below its industry-specific long-run average.

The capacity utilization rate for mining declined sharply in 2019 and 2020 as operating rates moved

down throughout the sector. Relative to its previously published rate, utilization at mines for the fourth quarter of

3Unless otherwise noted, rates of capacity utilization are reported for the fourth quarter of the reference year.

3
2020 is about 9 percentage points lower, reflecting both lower production growth and higher capacity growth. At

the end of 2020, the utilization rate for mining was 16.6 percentage points below its long-run average of

86.2 percent. Apart from 2018, the sector has been operating below its long-run average utilization since 2014.

The operating rate for utilities has been well below its long-run average of 85.0 percent since 2008 and stood at

73.4 percent in the fourth quarter of 2020.

TECHNICAL ASPECTS OF THE REVISION

The IP indexes represent the level of real output relative to a base year. At the monthly frequency,

movements of the indexes are based on indicators that are derived using industry-specific data from a variety of

government and private sources.

The monthly production indexes are anchored to annual benchmarks that are less timely but typically

based on more comprehensive data. In most cases, the annual benchmark is nominal gross output reported by the

Census Bureau deflated by a suitable price index.

Annual revisions to the IP and capacity measures generally involve (1) incorporating new and revised

annual benchmark data on output, prices, and value-added proportions; (2) incorporating new monthly or

quarterly data that were revised or that arrived too late to be included in the regular six-month reporting window

for monthly IP; (3) updating seasonal adjustment factors; (4) updating the methods used to construct the indexes;

and (5) introducing changes to the industry- or market-group structure of the indexes based on changes to

underlying data sources.

The current annual revision includes more innovations and updates than are typical. In particular, the

current revision updates the base year of the index from 2012 to 2017, reclassifies the IP and capacity indexes

from the 2012 North American Industry Classification System (NAICS) to the 2017 NAICS, updates the

aggregation weights for some IP indexes to incorporate data on product shipments based on the new North

American Product Classification System (NAPCS), and updates the allocations of IP industry group indexes to

market groups based on the Bureau of Economic Analysis’s (BEA) 2012 input-output (I-O) tables (the previous

allocations were based on I-O tables through 2007).

Annual Benchmark Data on Output, Prices, and Value-Added Proportions

Output

The annual benchmark output indexes for IP are measures of real gross output at the six-digit NAICS

(2017) level. The Census Bureau provides annual figures for value added and the cost of materials for

manufacturing industries, which can be summed to obtain nominal gross output. The benchmark indexes for this

revision incorporated information for 2017 from the Economic Census and new information for 2018 and 2019

from the Annual Survey of Manufactures (ASM).

New annual data were also incorporated into many other indexes not in the scope of the ASM. The

benchmark indexes for metallic and nonmetallic mineral mining were updated with any newly available data

from 2017 through 2019 from the USGS, and the benchmark indexes for logging and for publishing were

advanced through 2019 based on data from the U.S. Forest Service and from the U.S. Census Bureau,

respectively.

Prices

To obtain individual benchmarks of real gross output, the measures of nominal gross output are deflated

by annual price deflators. In general, the benchmark industry price deflators consist of price indexes from the

4
BEA through 2011 that are extended through 2019 with the related producer price indexes (PPIs) from the BLS.4

However, for a few selected industries, the annual price deflators are constructed by the Federal Reserve.5

Value-Added Proportions (Weights for Aggregation)

The IP system is organized as a hierarchical structure where the individual production indexes are

combined using a version of the Fisher-ideal index formula to construct broader measures of production. The

weights that are used to combine individual IP measures into more aggregate measures are based on the value

added from the industry, calculated as gross output less cost of materials. For IP indexes that are defined at the

six-digit (or more aggregate) NAICS level, the value-added weights are derived from either the Economic

Census or the ASM. For IP indexes that cover only part of a six-digit NAICS industry, the aggregation weights

were constructed by allocating value added (as defined by the Census Bureau) for a six-digit industry across the

various components of IP that compose that industry.

The allocation of value added across each component was determined by that component’s share of the

industry’s overall product shipments. This annual revision used data on product shipments based on the new

2017 NAPCS. Previously, data on product shipments had a classification system based on NAICS and were

included as part of the Census of Manufactures or Annual Survey of Manufactures. The new classification

system is coded independently of NAICS, and a concordance was required to align the recent data with the

historical data used to allocate weights across IP indexes for the period before 2017. Missing values for specific

NAPCS-based products were imputed where necessary. The incorporation of NAPCS is discussed in more detail

below.

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. For electric utilities, the measures of value added

incorporate data from the Energy Information Administration of the U.S. Department of Energy and from the

Edison Electric Institute. For gas utilities, the value-added estimates incorporate data from the American Gas

Association. The weights for aggregation for mining industries are derived from value-added data from the

Economic Census. Figures for value added for mining industries in the years between the quinquennial

Economic Censuses are estimated based on both output and price changes for the industry.

The weights for aggregation, expressed as value added per unit output, were estimated with data on

producer prices for the period after 2019.

Conversion to the 2017 North American Industry Classification System

Industrial production and capacity utilization are structured to follow a single-industry classification

system. With this revision, the industrial production and capacity indexes were classified according to the 2017

NAICS; previously, they were classified according to the 2012 NAICS. To maintain consistent time series, the

indexes were converted to 2017 NAICS for the period from 1972 forward.

For the industrial sector, the differences between the 2012 and the 2017 NAICS were relatively minor. A

few IP indexes were reclassified to reflect the new NAICS structure, but no individual indexes were dropped or

added because of the new structure. The reclassifications within the IP system include the following:

4The BEA price deflators were discontinued at the six-digit NAICS level after 2011. Overall, at the industry level, the BEA and PPI measures are quite similar, as the

BEA used weighted product-level PPIs to derive its industry-level shipments deflator.

5For selected industries, the Federal Reserve constructs price indexes from alternative sources. These industries include communications equipment (NAICS 3342),

computer storage devices (NAICS 334112), semiconductors (NAICS 334413), and pharmaceuticals (NAICS 325412). Updated price indexes for data storage devices and

for selected components of communications equipment will be available on the Board’s website at https://www.federalreserve.gov/releases/g17/.

5
Crude Petroleum and Natural Gas Extraction

The crude petroleum and natural gas extraction and the natural gas liquid extraction industries were

reorganized under 2017 NAICS. In the 2012 system, crude petroleum and natural gas extraction were included

together in NAICS 211111. Under the 2017 system, crude petroleum extraction is its own six-digit industry

(NAICS 211120) and natural gas extraction is combined with natural gas liquid extraction (NAICS 211112 in the

2012 system) into NAICS 211130. This reorganization did not affect the number of individual IP indexes. Under

both the 2012 and 2017 NAICS, the IP system included three indexes for different categories of crude oil

extraction, one index for natural gas extraction, one index for propane, and one index for liquefied petroleum gas.

Lead, Zinc, Copper, and Nickel Ore Mining

Two 2012 NAICS categories, lead ore and zinc ore mining (NAICS 212231) and copper ore and nickel

ore mining (NAICS 212234), were combined into a single 2017 NAICS category: copper, nickel, lead, and zinc

mining (NAICS 212230). This consolidation did not affect the number of IP indexes, as the IP system

maintained one index for copper ore and nickel ore mining and another index for lead ore and zinc ore mining

under both 2012 NAICS and 2017 NAICS.

Household Appliance Manufacturing

A single 2017 NAICS six-digit industry for major household appliance manufacturing (NAICS 335220)

was formed from four different six-digit industries under 2012 NAICS: Household cooking appliances

manufacturing (NAICS 335221), household refrigerator and home freezer manufacturing (NAICS 335222),

household laundry equipment manufacturing (NAICS 335224), and other major household appliance

manufacturing (NAICS 335228). This consolidation did not affect the number of individual IP indexes, as the IP

system still includes one index for each product type within the affected categories under both 2012 NAICS and

2017 NAICS.

Adoption of the North American Product Classification System

As noted earlier, this annual revision uses data on product shipments classified by NAPCS to construct

annual benchmarks and value-added weights for those IP indexes that are defined as subsets of a given six-digit

NAICS industry; previously, the benchmarks and aggregation weights for these indexes were based on an

industry’s NAICS-based product shipments as defined in Census Bureau annual surveys or censuses. The Census

Bureau introduced NAPCS with the 2017 Economic Censuses and no longer published data on the earlier basis.

Unlike the previous classification system for product shipments, the NAPCS structure is independent

from the NAICS structure. Under the previous system, each industry was associated with a unique set of

products, and the codes for those products were extensions of the codes for their related six-digit industries.

For IP indexes that are more disaggregate than the six-digit NAICS level, the calculations for the

benchmarks and value-added weights involve summing product shipments for all products associated with the

particular IP index. Under the old system, these calculations were straightforward because the products were

classified based on the primary producing industry. Under NAPCS, however, the process is considerably more

complicated for a few reasons. First, as noted, the NAPCS structure is independent from NAICS, so a

NAPCS-NAICS crosswalk was needed. Second, because NAPCS products may be produced across multiple

industries and sectors, extra care was required to map the product to the appropriate IP index. Third, the

non-nested structure of NAPCS and NAICS combined with numerous instances of nondisclosed data cells

introduced an additional hurdle for imputations.

6
Updating Market Group Allocations

The IP market groups classify industrial output according to the expected use of the output. The

categories of market groups are final products (consumer goods and equipment), intermediate products that are

used as inputs outside of the industrial sector (construction and business supplies), and materials that are used as

inputs within the industrial sector (materials). Most industries in the IP index have their output allocated to

multiple market groups. For example, a large share of ice cream production is purchased by consumers, but a

sizable share is also sold to restaurants and other businesses outside the industrial sector, and hence is part of

business supplies. The market group shares for the individual IP indexes are derived using relationships in the

I-O tables issued by the BEA.

This revision updates the market group assignments and shares based on the 2012 I-O tables. Previously,

the market groups and weights had been based on the 1997, 2002, and 2007 versions of the tables. The

incorporation of the 2012 I-O tables generally affected the market group shares beginning in 2008. The shares

are assumed to evolve linearly between each I-O table year and to be constant beginning with the last available

year for the I-O tables.

In general, the output of an industry is not split among all of the possible market groups, just those to

which a significant share (roughly 10 percent or more) of its output is destined. The I-O tables reported that a

few industries sent their output to markets in amounts that surpassed that threshold for the first time in 2012. For

these industries, output was allocated to the newly important market in 2012 and later years, and output was also

allocated to the market in previous years, with the shares for the earlier years reflecting the relatively smaller

importance in the 1997, 2002, and 2007 I-O tables.

Revised Quarterly and Monthly Data

This revision incorporated source data on production, shipments, and inventories that became available or

were revised after the regular six-month reporting window for monthly IP was closed. These data were released

with too great of a lag to be included with monthly IP estimates but were available for inclusion in the annual

revision.

Revised Seasonal Factors

Industrial production indexes are adjusted to remove from the underlying data the predictable movements

related to timing, holiday, workday, and monthly or quarterly seasonal patterns. Individual indexes are adjusted

using the Census X-13ARIMA-SEATS seasonal adjustment program. The seasonal factors are based on the full

history of data back to 1972, where available.

Seasonal factors for indexes based on production-worker hours were updated with data through January

2021. The updated factors for the physical-product-based indexes used data through December 2020 where

available. For IP indexes based on physical product data, the seasonal adjustment procedure treated the

pandemic-influenced months from March 2020 through August 2020 as additive outliers. For IP indexes that use

production-worker hours as their monthly indicator, the months from April 2020 through August 2020 were

specified as additive outliers.

Since the last annual revision, the seasonal adjustment process has been updated for indexes based on

production-worker hours. Certain calendar configurations relating to the number of weekend days in a month

and the timing of the BLS’s Current Employment Statistics survey (the source for the data on production-worker

hours) appeared to produce small systematic effects on the estimates of total IP. As a remedy, an adjustment to

allow for trading day effects was added to the X-13 models for those indexes based on production-worker hours.

7
Seasonal factors for unit motor vehicle assemblies have been updated, and projections through June 2022

are available on the Board’s website at https://www.federalreserve.gov/releases/g17/mvsf.htm. These factors are

based on production data through January 2021 and were revised back to January 2015. The seasonal factors

explicitly incorporate the holiday schedule for the vehicle assembly lines specified in the latest collective

bargaining agreements with domestic manufacturers. The seasonal factors identify production data from March

through May 2020 as outliers due to the pandemic recession.

Methodological Changes to Individual Production and Capacity Indexes

Change in Frequency of Source Data for Mattress Manufacturing and for Glass Container Manufacturing

The index for mattress manufacturing (NAICS 33791) is based on data on shipments from the

International Sleep Products Association (ISPA). For many years, the ISPA reported data at a monthly frequency;

these reports were converted to a quarterly frequency beginning with data for 2015. With this revision, the IP

index for matresses was formally updated to reflect the quarterly data beginning in 2017.

The index for glass container manufacturing (NAICS 327213) is based on production of glass containers

from the Glass Packaging Institute (GPI). The GPI issued data at a monthly frequency before transitioning to a

quarterly frequency several years ago. With this revision, the IP index for glass containers was formally updated

to reflect the quarterly data beginning in 2012.

Change in Source Data for Electric Lighting Equipment

With this revision, the index for electric lighting equipment (NAICS 3351) is now based on

production-worker hours. For the period from 2002 through 2015, the index was based on physical product data

from the National Electrical Manufacturers Association that have since been discontinued.

Consolidation of Individual Indexes for Communications Equipment

Communications equipment manufacturing (NAICS 3342) is covered by numerous individual IP indexes;

although the individual indexes are included in the published total for communications equipment, they are not

published separately. With this revision, three indexes span NAICS 3342: One index covers all of NAICS 33421,

telephone apparatus; one index covers the portion of NAICS 33422 that includes wireless system equipment; and

one index combines the remaining portion (predominantly radio and television broadcasting equipment and

satellites) of NAICS 33422 with all of NAICS 33429, other communications equipment manufacturing.

Previously, six individual indexes covered NAICS 3342. The source data for all indexes for communications

equipment come from the U.S. Census Bureau’s Quarterly Survey of Plant Capacity Utilization.

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 https://www.federalreserve.gov/releases/g17, as are updated data for the annual revision and for all of the regularly issued series on IP, capacity, and capacity utilization. Other changes are listed on the Board’s website at

https://www.federalreserve.gov/releases/g17/g17 revision series.htm.

8
1. Total industrial production, capacity, and utilization

 Note: The shaded areas represent periods of business recession as defined by the National Bureau of Economic

 Research (NBER). 

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

20

40

60

80

100

120

140

Capacity

Production

1

Revised

Earlier

Ratio scale, 2017 output = 100

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2017-based indexes in 2012.

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

58

62

66

70

74

78

82

86

90

Utilization

Percent of capacity

9
2. Manufacturing industrial production, capacity, and utilization

 Notes: 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.

 The shaded areas represent periods of business recession as defined by the NBER.

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

20

40

60

80

100

120

140

Capacity

Production

1

Revised

Earlier

Ratio scale, 2017 output = 100

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2017-based indexes in 2012.

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

58

62

66

70

74

78

82

86

90

Utilization

Percent of capacity

10
 3. Industrial production of selected industries

 Notes: High-technology industries are defined as semiconductors and related electronic components (NAICS 3344),

 computers (NAICS 3341), and communications equipment (NAICS 3342).

 The shaded areas represent periods of business recession as defined by the NBER. 

1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

35

40

45

50

55

60

65

70

80

90

100

110

Excluding

high-technology

industries

Total IP

 Industrial production Ratio scale, 2017 output = 100 

1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

35

40

45

50

55

60

70

80

90

100

110

120

Non-Energy

Energy

 Industrial production Ratio scale, 2017 output = 100 

1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

20

40

60

80

100

120

Motor Vehicles

and Parts

 Industrial production Ratio scale, 2017 output = 100 

11
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

4. Consumer goods

Total Ratio scale, 2017 output = 100

 40

 50

 60

 70

 80

 90

100

110

120

1

Revised

Earlier

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2017-based indexes in 2012.

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Components of consumer goods Ratio scale, 2017 output = 100

 30

 45

 60

 75

 90

105

120

135

 Note: The shaded areas represent periods of business recession as defined by the NBER. 

1

Revised durable

Revised nondurable

Earlier

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2017-based indexes in 2012.

Detail: 2016 to present

80

90

100

110

2016 2017 2018 2019 2020 2021

Detail: 2016 to present

50

60

70

80

90

100

110

120

130

2016 2017 2018 2019 2020 2021

12
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

5. Equipment

Total Ratio scale, 2017 output = 100

 10

 30

 50

 70

 90

110

130

1

 Note: Includes business equipment, defense and space equipment, oil and gas well drilling, and manufactured 

 homes.

Revised

Earlier

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2017-based indexes in 2012.

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Business equipment Ratio scale, 2017 output = 100

 10

 30

 50

 70

 90

110

130

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Defense and space equipment Ratio scale, 2017 output = 100

 30

 45

 60

 75

 90

105

120

 Note: The shaded areas represent periods of business recession as defined by the NBER. 

Detail: 2016 to present

 70

 80

 90

100

110

2016 2017 2018 2019 2020 2021

Detail: 2016 to present

 65

 80

 95

110

2016 2017 2018 2019 2020 2021

Detail: 2016 to present

 80

 100

 120

2016 2017 2018 2019 2020 2021

13
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

6. Nonindustrial supplies

Total Ratio scale, 2017 output = 100

 40

 60

 80

100

120

1

Revised

Earlier

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2017-based indexes in 2012.

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Construction supplies Ratio scale, 2017 output = 100

 40

 60

 80

100

120

140

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Business supplies Ratio scale, 2017 output = 100

 30

 50

 70

 90

110

130

 Note: The shaded areas represent periods of business recession as defined by the NBER. 

Detail: 2016 to present

 80

 90

 100

 110

2016 2017 2018 2019 2020 2021

Detail: 2016 to present

 80

 90

100

110

120

2016 2017 2018 2019 2020 2021

Detail: 2016 to present

 80

 90

100

110

2016 2017 2018 2019 2020 2021

14
1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

7. Industrial materials

Total Ratio scale, 2017 output = 100

 30

 50

 70

 90

120

1

Revised

Earlier

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2017-based indexes in 2012.

1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Energy materials Ratio scale, 2017 output = 100

 60

 80

100

120

140

1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Non-energy materials Ratio scale, 2017 output = 100

 30

 50

 70

 90

110

 Note: The shaded areas represent periods of business recession as defined by the NBER. 

Detail: 2016 to present

85

90

95

100

105

110

115

120

2016 2017 2018 2019 2020 2021

Detail: 2016 to present

 80

 90

100

110

2016 2017 2018 2019 2020 2021

15
8. Capacity utilization by stage of process

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

65

70

75

80

85

90

95

100

Revised

Earlier

Crude Processing Percent of capacity

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

60

65

70

75

80

85

90

95

Primary and semifinished processing Percent of capacity

1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

55

60

65

70

75

80

85

90

Note: The shaded areas represent periods of business recession as defined by the NBER.

Finished processing Percent of capacity

16
Table 1A

INDUSTRIAL PRODUCTION: Total

Seasonally adjusted

Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Q1 Q2 Q3 Q4 Annual1

IP (percent

change)

1991 -.4 -.7 -.6 .3 1.0 .8 .3 .0 .9 -.1 -.1 -.4 -7.3 2.4 5.8 .8 -1.5

1992 -.5 .7 .8 .8 .3 .1 .9 -.5 .3 .7 .4 .1 -.5 7.3 3.2 4.2 2.9

1993 .4 .5 -.1 .3 -.4 .2 .2 -.1 .5 .8 .5 .5 3.7 .8 1.4 6.5 3.3

1994 .3 .1 1.0 .6 .5 .7 .1 .7 .3 .8 .7 1.0 5.0 7.6 5.2 8.3 5.3

1995 .2 -.1 .2 -.1 .5 .3 -.4 1.3 .4 -.2 .2 .4 4.2 1.3 3.8 3.4 4.6

1996 -.6 1.4 -.1 1.0 .7 .8 .0 .5 .7 .0 .9 .6 2.7 8.9 5.3 5.6 4.6

1997 .2 1.2 .6 .1 .5 .5 .8 1.0 1.0 .9 .8 .5 7.8 5.7 9.6 10.5 7.2

1998 .4 .2 .0 .4 .6 -.6 -.4 2.1 -.1 .8 -.1 .4 4.6 2.7 3.0 5.9 5.9

1999 .4 .6 .2 .2 .6 -.1 .6 .4 -.4 1.3 .5 .8 4.6 3.8 3.6 7.3 4.4

2000 -.1 .4 .4 .6 .3 .1 -.2 -.3 .4 -.4 .0 -.3 4.1 5.0 -.4 -1.1 3.8

2001 -.6 -.7 -.2 -.3 -.6 -.6 -.6 -.1 -.5 -.3 -.6 .0 -5.1 -5.0 -5.5 -4.3 -3.1

2002 .7 .0 .8 .5 .4 .8 .0 -.1 .1 -.3 .6 -.5 2.9 6.4 2.5 -.2 .3

2003 .8 .1 -.3 -.6 .0 .1 .5 -.2 .7 .1 .7 .1 2.5 -3.0 2.8 3.9 1.3

2004 .2 .6 -.4 .4 .7 -.8 .7 .1 .1 .9 .2 .7 2.8 2.3 2.3 5.8 2.7

2005 .4 .7 -.2 .2 .1 .4 -.3 .4 -1.9 1.2 1.1 .5 5.8 2.2 -1.7 3.6 3.4

2006 .1 .0 .3 .3 .0 .3 -.1 .4 -.2 -.1 -.1 1.0 3.8 2.4 1.5 .9 2.2

2007 -.4 1.0 .2 .7 .1 .0 -.1 .2 .2 -.3 .6 .0 4.0 5.0 .6 1.2 2.6

2008 -.1 -.4 -.3 -.7 -.6 -.2 -.5 -1.6 -4.3 .9 -1.3 -2.8 -1.3 -5.8 -12.4 -16.1 -3.5

2009 -2.5 -.7 -1.6 -.8 -1.0 -.3 1.1 1.1 .8 .3 .4 .3 -20.8 -10.8 6.5 6.4 -11.5

2010 1.1 .3 .7 .4 1.4 .2 .4 .3 .2 -.2 .0 1.0 8.0 8.2 5.4 1.6 5.5

2011 -.2 -.4 1.0 -.3 .2 .3 .5 .6 -.1 .6 .0 .5 2.1 1.5 4.6 4.0 3.1

2012 .6 .3 -.5 .8 .2 .0 .2 -.4 -.1 .3 .5 .2 3.9 2.6 -.1 2.1 3.0

2013 .0 .5 .4 -.1 .1 .1 -.3 .6 .6 -.1 .3 .2 2.9 1.9 1.6 2.7 2.0

2014 -.3 .8 1.0 .1 .4 .3 .3 -.2 .3 .0 .7 -.1 2.9 5.4 2.4 2.3 3.0

2015 -.7 -.6 -.3 -.6 -.4 -.3 .7 -.3 -.3 -.4 -.7 -.6 -4.2 -5.5 .0 -5.5 -1.4

2016 .7 -.5 -.8 .3 -.2 .4 .2 -.2 -.1 .1 -.4 .7 -2.3 -1.6 1.0 -.6 -2.2

2017 -.2 -.4 .8 .9 .1 .2 -.1 -.5 .0 1.2 .3 .1 .6 5.9 -1.1 5.4 1.3

2018 .0 .3 .6 1.1 -.8 .7 .2 .6 .0 -.1 -.1 .0 2.2 5.3 3.4 -.1 3.2

2019 -.5 -.6 .1 -.6 .2 -.1 -.3 .6 -.4 -.8 .5 -.4 -3.6 -2.3 .0 -2.6 -.8

2020 -.5 .2 -3.8 -13.6 1.9 6.2 4.1 1.1 -.3 1.1 .5 1.2 -6.7 -42.4 44.5 8.3 -7.2

2021 1.0 -2.9 2.2 .5 2.8

IP (2017=100)

1991 61.4 60.9 60.6 60.8 61.4 61.8 62.0 62.0 62.5 62.5 62.4 62.1 61.0 61.3 62.2 62.3 61.7

1992 61.8 62.2 62.7 63.2 63.4 63.4 64.0 63.7 63.9 64.3 64.6 64.6 62.2 63.3 63.8 64.5 63.5

1993 64.9 65.2 65.2 65.4 65.1 65.2 65.4 65.3 65.7 66.2 66.5 66.8 65.1 65.2 65.5 66.5 65.6

1994 67.1 67.1 67.8 68.2 68.5 69.0 69.1 69.5 69.7 70.3 70.7 71.5 67.3 68.6 69.4 70.8 69.0

1995 71.6 71.5 71.6 71.5 71.8 72.1 71.7 72.7 73.0 72.9 73.0 73.3 71.6 71.8 72.5 73.1 72.2

1996 72.9 74.0 73.9 74.6 75.2 75.7 75.7 76.1 76.6 76.6 77.2 77.7 73.6 75.2 76.1 77.2 75.5

1997 77.9 78.8 79.3 79.3 79.8 80.1 80.8 81.6 82.4 83.1 83.8 84.1 78.6 79.8 81.6 83.7 80.9

1998 84.5 84.6 84.7 85.0 85.5 85.0 84.7 86.4 86.3 87.0 86.9 87.3 84.6 85.2 85.8 87.0 85.7

1999 87.6 88.1 88.3 88.5 89.0 89.0 89.5 89.9 89.5 90.7 91.1 91.8 88.0 88.8 89.6 91.2 89.4

2000 91.8 92.1 92.5 93.1 93.3 93.4 93.2 93.0 93.4 93.0 93.0 92.7 92.1 93.3 93.2 92.9 92.9

2001 92.2 91.6 91.4 91.1 90.5 90.0 89.5 89.4 88.9 88.6 88.1 88.1 91.7 90.5 89.3 88.3 90.0

2002 88.7 88.7 89.4 89.8 90.2 90.9 90.9 90.8 90.9 90.6 91.1 90.6 88.9 90.3 90.9 90.8 90.2

2003 91.4 91.5 91.2 90.6 90.6 90.7 91.2 91.0 91.6 91.7 92.4 92.4 91.4 90.7 91.3 92.2 91.4

2004 92.6 93.1 92.7 93.1 93.8 93.1 93.8 93.9 93.9 94.8 95.0 95.7 92.8 93.3 93.9 95.2 93.8

2005 96.1 96.8 96.7 96.9 97.0 97.4 97.0 97.4 95.5 96.6 97.7 98.2 96.5 97.1 96.6 97.5 96.9

2006 98.3 98.3 98.6 98.9 98.9 99.2 99.1 99.6 99.4 99.3 99.2 100.3 98.4 99.0 99.4 99.6 99.1

2007 99.9 100.8 101.0 101.7 101.8 101.8 101.7 102.0 102.2 101.9 102.5 102.5 100.6 101.8 102.0 102.3 101.7

2008 102.3 101.9 101.6 100.9 100.3 100.1 99.6 98.1 93.8 94.7 93.5 90.8 101.9 100.4 97.2 93.0 98.1

2009 88.6 88.0 86.6 85.9 85.1 84.8 85.7 86.7 87.4 87.7 88.0 88.3 87.7 85.3 86.6 88.0 86.9

2010 89.3 89.6 90.2 90.6 91.8 92.0 92.4 92.7 92.9 92.7 92.8 93.6 89.7 91.5 92.7 93.0 91.7

2011 93.5 93.1 94.0 93.7 93.8 94.1 94.6 95.2 95.1 95.7 95.7 96.2 93.5 93.9 94.9 95.9 94.6

2012 96.8 97.1 96.6 97.3 97.5 97.5 97.7 97.3 97.2 97.5 98.0 98.2 96.8 97.4 97.4 97.9 97.4

2013 98.2 98.6 99.1 99.0 99.1 99.2 98.9 99.5 100.1 99.9 100.2 100.4 98.6 99.1 99.5 100.2 99.3

2014 100.0 100.8 101.8 101.8 102.2 102.6 102.8 102.6 103.0 103.0 103.7 103.6 100.9 102.2 102.8 103.4 102.3

2015 102.8 102.2 101.9 101.3 100.8 100.5 101.2 100.9 100.6 100.2 99.4 98.8 102.3 100.9 100.9 99.5 100.9

2016 99.5 99.0 98.2 98.5 98.3 98.7 98.9 98.7 98.6 98.7 98.2 98.9 98.9 98.5 98.7 98.6 98.7

2017 98.7 98.4 99.1 100.0 100.1 100.3 100.2 99.7 99.7 101.0 101.3 101.4 98.7 100.2 99.9 101.2 100.0

2018 101.4 101.6 102.3 103.4 102.5 103.3 103.5 104.2 104.1 104.0 103.9 103.9 101.8 103.1 103.9 103.9 103.2

2019 103.3 102.7 102.9 102.3 102.5 102.4 102.1 102.7 102.3 101.5 102.0 101.6 103.0 102.4 102.4 101.7 102.3

2020 101.1 101.3 97.4 84.2 85.8 91.2 94.9 95.9 95.6 96.6 97.2 98.3 100.0 87.1 95.5 97.4 95.0

2021 99.3 96.4 98.5 99.0 98.1

NOTE: Estimates from December 2020 through April 2021 are subject to further revision in the upcoming monthly releases.

1. Annual averages of industrial production are calculated from not seasonally adjusted indexes.

17
Table 1B

CAPACITY AND UTILIZATION: Total

Seasonally adjusted

Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Q1 Q2 Q3 Q4 Annual

Capacity

(percent of

2017 output)

1991 76.7 76.8 76.9 76.9 77.0 77.1 77.2 77.2 77.3 77.4 77.5 77.7 76.8 77.0 77.2 77.5 77.1

1992 77.8 78.0 78.1 78.3 78.4 78.6 78.8 78.9 79.1 79.3 79.4 79.6 78.0 78.4 78.9 79.4 78.7

1993 79.7 79.8 79.9 80.1 80.2 80.3 80.4 80.5 80.6 80.8 80.9 81.1 79.8 80.2 80.5 80.9 80.4

1994 81.3 81.5 81.7 81.9 82.1 82.4 82.6 82.9 83.2 83.5 83.7 84.0 81.5 82.1 82.9 83.7 82.6

1995 84.3 84.6 84.9 85.2 85.5 85.8 86.1 86.5 86.8 87.2 87.5 87.9 84.6 85.5 86.5 87.5 86.0

1996 88.3 88.7 89.1 89.5 89.9 90.3 90.7 91.2 91.6 92.0 92.5 92.9 88.7 89.9 91.2 92.5 90.6

1997 93.3 93.8 94.3 94.8 95.3 95.8 96.3 96.9 97.5 98.1 98.7 99.3 93.8 95.3 96.9 98.7 96.2

1998 100.0 100.6 101.3 101.9 102.6 103.2 103.8 104.3 104.9 105.4 105.9 106.4 100.6 102.6 104.3 105.9 103.4

1999 106.9 107.3 107.8 108.2 108.6 109.0 109.4 109.8 110.2 110.6 111.0 111.4 107.3 108.6 109.8 111.0 109.2

2000 111.7 112.1 112.5 112.9 113.3 113.6 114.0 114.4 114.8 115.2 115.5 115.9 112.1 113.3 114.4 115.5 113.8

2001 116.3 116.7 117.0 117.4 117.7 118.0 118.3 118.6 118.9 119.1 119.4 119.6 116.7 117.7 118.6 119.4 118.1

2002 119.8 119.9 120.1 120.2 120.3 120.3 120.4 120.4 120.4 120.4 120.4 120.4 119.9 120.3 120.4 120.4 120.3

2003 120.3 120.3 120.3 120.2 120.2 120.1 120.1 120.1 120.1 120.1 120.0 120.0 120.3 120.2 120.1 120.0 120.2

2004 120.0 120.0 119.9 119.9 119.9 119.9 119.9 119.9 119.9 119.9 120.0 120.0 120.0 119.9 119.9 120.0 119.9

2005 120.1 120.2 120.3 120.5 120.6 120.8 121.0 121.1 121.3 121.5 121.6 121.8 120.2 120.6 121.1 121.6 120.9

2006 122.0 122.1 122.3 122.5 122.7 122.9 123.1 123.4 123.6 123.9 124.2 124.5 122.1 122.7 123.4 124.2 123.1

2007 124.8 125.1 125.4 125.7 126.0 126.2 126.4 126.5 126.6 126.6 126.6 126.6 125.1 126.0 126.5 126.6 126.1

2008 126.5 126.4 126.3 126.3 126.2 126.1 126.2 126.2 126.3 126.4 126.6 126.7 126.4 126.2 126.2 126.6 126.4

2009 126.9 127.0 127.1 127.3 127.3 127.4 127.4 127.3 127.2 127.0 126.8 126.6 127.0 127.3 127.3 126.8 127.1

2010 126.4 126.1 125.8 125.6 125.3 125.0 124.8 124.5 124.3 124.2 124.0 123.9 126.1 125.3 124.5 124.1 125.0

2011 123.9 123.9 123.9 123.9 124.0 124.1 124.2 124.3 124.5 124.7 124.9 125.1 123.9 124.0 124.4 124.9 124.3

2012 125.4 125.6 125.8 126.1 126.3 126.5 126.7 126.9 127.2 127.4 127.6 127.8 125.6 126.3 126.9 127.6 126.6

2013 127.9 128.1 128.3 128.4 128.6 128.7 128.9 129.0 129.1 129.2 129.3 129.4 128.1 128.6 129.0 129.3 128.7

2014 129.5 129.6 129.7 129.8 129.9 130.1 130.2 130.3 130.5 130.6 130.7 130.8 129.6 129.9 130.3 130.7 130.1

2015 130.9 131.0 131.0 131.1 131.1 131.1 131.1 131.1 131.1 131.1 131.1 131.1 131.0 131.1 131.1 131.1 131.1

2016 131.1 131.1 131.1 131.1 131.2 131.2 131.2 131.3 131.3 131.3 131.3 131.3 131.1 131.2 131.3 131.3 131.2

2017 131.3 131.3 131.2 131.1 131.0 130.9 130.7 130.6 130.5 130.3 130.2 130.1 131.3 131.0 130.6 130.2 130.8

2018 130.1 130.0 130.0 130.0 130.1 130.1 130.2 130.4 130.6 130.7 130.9 131.1 130.0 130.1 130.4 130.9 130.4

2019 131.3 131.5 131.7 131.9 132.1 132.2 132.4 132.5 132.6 132.7 132.7 132.8 131.5 132.1 132.5 132.7 132.2

2020 132.8 132.8 132.8 132.8 132.8 132.7 132.7 132.7 132.7 132.6 132.6 132.6 132.8 132.8 132.7 132.6 132.7

2021 132.6 132.6 132.7 132.7 132.6

Utilization (percent)

1991 80.0 79.3 78.8 79.0 79.7 80.2 80.4 80.3 80.9 80.7 80.4 80.0 79.4 79.6 80.5 80.3 80.0

1992 79.4 79.8 80.3 80.7 80.8 80.7 81.3 80.6 80.7 81.1 81.3 81.3 79.8 80.8 80.9 81.2 80.7

1993 81.5 81.7 81.5 81.6 81.2 81.3 81.3 81.1 81.4 81.9 82.1 82.4 81.6 81.4 81.3 82.1 81.6

1994 82.5 82.4 83.0 83.3 83.4 83.7 83.6 83.8 83.8 84.2 84.5 85.1 82.6 83.5 83.7 84.6 83.6

1995 84.9 84.5 84.3 83.9 84.0 84.0 83.3 84.1 84.1 83.6 83.4 83.4 84.6 84.0 83.8 83.5 84.0

1996 82.6 83.4 82.9 83.4 83.6 83.8 83.4 83.5 83.6 83.2 83.6 83.7 82.9 83.6 83.5 83.5 83.4

1997 83.4 84.0 84.1 83.7 83.7 83.7 83.9 84.2 84.5 84.7 84.9 84.7 83.8 83.7 84.2 84.8 84.1

1998 84.5 84.1 83.6 83.4 83.4 82.4 81.6 82.8 82.3 82.5 82.1 82.0 84.1 83.0 82.2 82.2 82.9

1999 82.0 82.1 81.9 81.8 82.0 81.6 81.8 81.9 81.2 82.0 82.1 82.5 82.0 81.8 81.6 82.2 81.9

2000 82.2 82.2 82.2 82.4 82.4 82.2 81.7 81.3 81.3 80.8 80.5 80.0 82.2 82.3 81.4 80.4 81.6

2001 79.3 78.5 78.1 77.6 76.9 76.3 75.6 75.3 74.8 74.4 73.8 73.7 78.6 76.9 75.3 74.0 76.2

2002 74.0 73.9 74.4 74.7 75.0 75.5 75.5 75.4 75.5 75.3 75.7 75.3 74.1 75.1 75.5 75.4 75.0

2003 75.9 76.1 75.9 75.4 75.4 75.5 75.9 75.8 76.3 76.4 76.9 77.0 76.0 75.4 76.0 76.8 76.0

2004 77.1 77.6 77.3 77.7 78.2 77.6 78.2 78.3 78.4 79.1 79.2 79.8 77.4 77.8 78.3 79.4 78.2

2005 80.0 80.5 80.3 80.4 80.4 80.6 80.2 80.4 78.7 79.6 80.3 80.6 80.3 80.5 79.8 80.2 80.2

2006 80.6 80.5 80.6 80.8 80.6 80.7 80.5 80.7 80.4 80.1 79.9 80.5 80.6 80.7 80.6 80.2 80.5

2007 80.0 80.6 80.5 80.9 80.8 80.7 80.5 80.6 80.7 80.5 80.9 80.9 80.4 80.8 80.6 80.8 80.6

2008 80.9 80.6 80.4 79.9 79.5 79.3 79.0 77.7 74.3 74.9 73.9 71.7 80.6 79.6 77.0 73.5 77.7

2009 69.8 69.3 68.1 67.5 66.8 66.6 67.3 68.1 68.7 69.0 69.4 69.7 69.1 67.0 68.1 69.4 68.4

2010 70.6 71.0 71.7 72.1 73.3 73.6 74.1 74.5 74.7 74.7 74.8 75.6 71.1 73.0 74.4 75.0 73.4

2011 75.5 75.1 75.9 75.6 75.7 75.8 76.2 76.5 76.4 76.7 76.6 76.9 75.5 75.7 76.4 76.7 76.1

2012 77.2 77.3 76.8 77.2 77.2 77.0 77.1 76.6 76.5 76.6 76.8 76.9 77.1 77.1 76.7 76.8 76.9

2013 76.7 77.0 77.2 77.1 77.0 77.1 76.8 77.2 77.5 77.3 77.5 77.6 77.0 77.1 77.1 77.5 77.2

2014 77.3 77.8 78.5 78.5 78.7 78.9 79.0 78.8 78.9 78.9 79.3 79.2 77.8 78.7 78.9 79.1 78.6

2015 78.6 78.0 77.8 77.3 76.9 76.6 77.2 77.0 76.7 76.4 75.8 75.4 78.1 76.9 76.9 75.9 77.0

2016 75.9 75.5 74.9 75.1 74.9 75.2 75.4 75.2 75.1 75.1 74.8 75.3 75.4 75.1 75.2 75.1 75.2

2017 75.2 74.9 75.5 76.3 76.5 76.6 76.6 76.3 76.5 77.5 77.8 77.9 75.2 76.5 76.5 77.7 76.5

2018 77.9 78.2 78.7 79.5 78.8 79.4 79.5 79.9 79.8 79.5 79.4 79.2 78.3 79.3 79.7 79.4 79.2

2019 78.7 78.1 78.1 77.5 77.6 77.4 77.1 77.5 77.2 76.5 76.8 76.5 78.3 77.5 77.2 76.6 77.4

2020 76.1 76.3 73.4 63.4 64.7 68.7 71.5 72.3 72.1 72.9 73.3 74.2 75.3 65.6 71.9 73.4 71.6

2021 74.9 72.7 74.2 74.6 73.9

NOTE: Estimates from December 2020 through April 2021 are subject to further revision in the upcoming monthly releases.

18
Table 2

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY: 2016–201

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2016 2017 2018 2019 2020 2016 2017 2018 2019 2020

Total IP -.9 2.6 2.7 -2.1 -4.2 -.6 -1.0 -1.3 -1.5 .0

MARKET GROUPS

Final products and nonindustrial supplies -.5 1.8 1.3 -1.9 -3.4 -.7 -.9 -.8 -.9 -.3

Consumer goods .6 -.4 .7 -1.3 -.8 -.4 -2.1 -.8 .0 -.5

Durable 2.5 -.6 4.4 -4.2 4.2 -.6 -1.3 1.4 -.6 1.1

Automotive products 4.9 1.5 5.0 -5.2 5.1 .0 .9 1.5 -.2 -.8

Home electronics 1.2 5.4 19.7 3.4 16.0 .4 4.0 14.0 -5.0 14.0

Appliances, furniture, carpeting .5 -2.0 -1.7 -2.9 5.2 -.4 -1.5 -.1 .3 4.7

Miscellaneous goods -.9 -4.7 5.4 -3.9 .8 -2.3 -6.1 1.4 -1.5 1.0

Nondurable .0 -.4 -.3 -.4 -2.2 -.4 -2.3 -1.4 .1 -1.0

Non-energy -1.1 -1.2 -1.4 .3 -.8 -.5 -2.8 -1.3 .5 -1.0

Foods and tobacco .0 .4 -1.7 1.3 -.4 -.3 -2.1 -1.5 -.3 -1.5

Clothing .8 -7.8 -2.7 1.9 -1.2 3.0 2.8 2.4 10.4 3.5

Chemical products -2.6 -3.3 -1.1 .0 -.8 -1.0 -5.4 -2.4 1.5 -.6

Paper products -3.7 -4.5 -2.8 -6.0 -4.3 -.3 .0 2.7 2.0 -1.3

Energy 4.1 2.4 2.8 -2.5 -6.6 -.2 -.6 -1.8 -.9 -.9

Business equipment -2.1 7.1 1.4 -4.2 -8.5 .0 2.2 -2.5 -2.2 -.9

Transit -3.9 9.0 -4.0 -6.1 -23.9 2.5 8.8 -7.6 2.3 -6.3

Information processing 4.1 4.8 4.1 1.5 3.5 .1 .7 .6 -4.1 2.4

Industrial and other -3.7 7.0 3.6 -5.3 -4.5 -1.4 -.6 -.7 -3.1 2.6

Defense and space equipment -.9 1.7 5.0 10.9 1.9 -1.6 2.5 -1.7 2.5 3.0

Construction supplies .0 2.2 .7 -2.4 -.2 -.8 -1.9 -1.8 -2.9 1.3

Business supplies -.1 1.1 .9 -3.0 -5.0 -1.5 -1.2 .9 -2.0 .2

Materials -1.4 3.8 4.4 -2.5 -5.5 -.4 -1.0 -1.7 -2.2 .3

Non-energy -.5 1.3 .7 -4.3 -1.6 -.5 -1.4 -2.5 -2.4 1.1

Durable -1.0 2.1 2.0 -5.1 -2.8 -.4 -.6 -1.8 -2.8 1.7

Consumer parts -.9 -2.5 2.5 -10.7 1.1 -.7 -3.2 -1.4 -2.0 -1.0

Equipment parts 1.2 4.2 2.0 -1.6 -1.5 .9 2.4 -3.9 -2.3 2.7

Other -2.4 2.5 1.9 -5.2 -4.7 -1.0 -1.5 -.8 -3.4 2.0

Nondurable .4 .1 -1.3 -3.0 .3 -.7 -2.7 -3.6 -1.6 .5

Textile .1 -5.8 .5 -3.8 -4.9 -1.1 -4.5 -4.9 -3.5 2.3

Paper .4 -5.3 1.4 -1.3 -7.4 .0 -1.7 1.7 2.3 -1.3

Chemical .3 2.2 -3.4 -5.6 2.9 -.3 -2.7 -7.8 -4.0 1.9

Energy -3.3 8.5 10.4 .6 -12.3 -.4 .4 .1 -1.7 -2.0

INDUSTRY GROUPS

Manufacturing2-.3 1.3 .7 -2.6 -2.5 -.6 -1.2 -1.5 -1.4 .2

Manufacturing (NAICS) 31–33 -.3 1.4 .8 -2.4 -2.3 -.6 -1.3 -1.8 -1.4 .3

Durable manufacturing -.5 2.8 2.4 -3.3 -2.5 -.4 .2 -1.7 -2.0 1.0

Wood products 321 2.8 .8 -3.4 -1.1 .2 -1.9 -4.6 -2.4 -4.2 -.3

Nonmetallic mineral products 327 -1.0 .6 -.9 -2.2 .9 -1.0 -4.7 -2.8 -1.7 2.2

Primary metals 331 -5.3 2.4 4.1 -7.5 -6.3 -1.2 -1.9 -2.0 -3.4 2.9

Fabricated metal products 332 -1.8 3.1 3.5 -3.9 -5.9 -.2 .1 -1.4 -2.7 .3

Machinery 333 -3.6 8.3 3.8 -6.7 -.1 -1.3 -1.0 -1.9 -2.7 3.3

Computer and electronic products 334 6.4 6.3 2.2 2.3 4.1 1.3 2.8 -2.2 -4.0 2.2

Electrical equip., appliances,

and components 335 -.5 -1.3 3.9 -3.3 -2.1 -.3 -1.3 .4 -1.2 1.5

Motor vehicles and parts 3361–3 2.2 -1.2 5.9 -8.4 2.8 -.3 -.8 .4 -1.6 -1.0

Aerospace and miscellaneous

transportation equipment 3364–9 -2.6 5.3 -2.8 3.8 -13.5 .6 6.1 -5.5 3.3 -1.7

Furniture and related products 337 -1.0 -.9 -.2 -3.9 -5.5 -.6 .7 -1.8 -3.2 5.5

Miscellaneous 339 -3.6 -2.6 4.5 -4.7 -1.4 -2.3 -1.4 2.2 -5.3 3.4

Nondurable manufacturing .1 -.2 -1.0 -1.5 -2.1 -.7 -2.9 -1.8 -.7 -.5

Food, beverage, and tobacco products 311,2 .1 .3 -1.1 1.4 -.2 -.6 -2.8 -1.2 -.3 -1.4

Textile and product mills 313,4 -1.6 -7.7 1.4 -3.8 -5.6 -2.5 -7.9 .5 -.2 -.2

Apparel and leather 315,6 .9 -7.4 -2.9 1.5 -.8 2.9 2.7 2.3 10.0 3.3

Paper 322 1.1 -3.6 1.9 -1.4 -3.5 -.1 -1.1 1.9 1.2 -1.6

Printing and support 323 .9 -1.0 -.3 -3.7 -8.3 -.7 .2 2.4 -.5 1.2

Petroleum and coal products 324 4.6 3.5 -1.1 -1.2 -12.1 .4 .9 .1 .5 -.8

Chemicals 325 -1.1 -.5 -2.7 -3.1 .0 -.9 -4.8 -5.6 -1.6 .5

Plastics and rubber products 326 -.4 1.0 2.3 -5.1 -2.2 -1.8 -1.8 2.3 -2.5 -.4

Other manufacturing (non-NAICS) 1133,5111 -2.9 -.7 -3.9 -7.6 -9.1 -1.4 2.8 6.1 .5 -.9

Mining 21 -7.4 12.4 14.1 .5 -16.6 -1.2 1.0 .2 -1.8 -3.1

Utilities 2211,2 1.9 2.7 3.0 -1.7 -3.2 -.2 -.4 .4 -.7 -.6

Electric 2211 2.1 1.7 1.5 -1.3 -2.1 .0 -.4 .7 -.4 -.3

Natural gas 2212 .9 9.5 12.9 -4.1 -9.9 -1.7 -.6 .1 -2.0 -3.5

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. 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.

19
Table 3

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, SPECIAL AGGREGATES AND SELECTED DETAIL: 2016–201

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2016 2017 2018 2019 2020 2016 2017 2018 2019 2020

Total industry -.9 2.6 2.7 -2.1 -4.2 -.6 -1.0 -1.3 -1.5 .0

Energy -1.9 7.0 8.4 -.4 -11.8 -.3 .0 -.4 -1.2 -1.8

Consumer products 4.1 2.4 2.8 -2.5 -6.6 -.2 -.6 -1.8 -.9 -.9

Commercial products 2.2 1.8 2.5 .3 -9.5 -.1 -.3 .0 .3 -2.1

Oil and gas well drilling 213111 -28.5 42.2 27.8 -11.1 -48.3 -2.0 5.0 8.6 11.0 11.8

Converted fuel .7 2.9 4.8 -2.7 -4.5 .1 .6 1.6 -1.1 -1.0

Primary energy -5.1 11.3 12.7 2.1 -15.9 -.8 .8 -.1 -1.5 -3.2

Non-energy -.6 1.4 .7 -2.7 -1.9 -.7 -1.2 -1.5 -1.5 .3

Selected high-technology industries 10.8 8.8 5.0 6.1 9.1 2.9 6.9 -.4 -.8 3.9

Computers and peripheral equipment 3341 -.2 -13.9 29.0 12.2 19.1 -12.4 -26.1 27.6 12.3 12.7

Communications equipment 3342 10.8 12.0 12.2 4.3 12.6 5.8 17.2 5.2 -3.8 11.8

Semiconductors and related

electronic components 3344 13.4 11.9 -.7 5.6 5.9 5.4 9.5 -6.7 -2.8 -.8

Excluding selected high-technology

industries -1.0 1.1 .6 -3.0 -2.2 -.8 -1.4 -1.5 -1.6 .2

Motor vehicles and parts 3361–3 2.2 -1.2 5.9 -8.4 2.8 -.3 -.8 .4 -1.6 -1.0

Motor vehicles 3361 1.3 -4.7 11.0 -8.5 3.3 -.4 .7 1.6 -.8 -.8

Motor vehicle parts 3363 3.2 -.2 2.9 -8.1 .5 -.6 -2.8 -1.5 -2.5 -.8

Excluding motor vehicles and parts -1.2 1.3 .1 -2.5 -2.6 -.8 -1.5 -1.7 -1.6 .3

Consumer goods -1.0 -1.2 -.8 -.4 -.2 -.6 -2.9 -1.1 .2 -.4

Business equipment -2.4 8.4 -.8 -4.0 -10.9 .1 2.6 -3.6 -2.6 -1.6

Construction supplies .0 2.2 .7 -2.4 -.3 -.9 -2.0 -1.8 -2.9 1.3

Business supplies -1.5 .4 .4 -4.7 -4.1 -2.0 -2.1 1.7 -2.9 .7

Materials -1.2 1.2 .6 -4.2 -2.0 -.8 -1.8 -2.3 -2.3 1.3

Measures excluding selected high-technology

industries

Total industry -1.2 2.5 2.6 -2.3 -4.6 -.6 -1.2 -1.3 -1.5 -.1

Manufacturing2

-.7 1.1 .5 -2.8 -2.9 -.7 -1.4 -1.6 -1.4 .1

Durable -1.2 2.4 2.2 -3.8 -3.3 -.6 -.3 -1.8 -2.2 .7

Measures excluding motor vehicles and parts

Total industry -1.1 2.9 2.5 -1.8 -4.7 -.6 -1.0 -1.4 -1.5 .1

Manufacturing2

-.5 1.5 .2 -2.1 -2.9 -.6 -1.2 -1.7 -1.4 .3

Durable -1.0 3.5 1.8 -2.4 -3.4 -.4 .3 -2.1 -2.2 1.4

Measures excluding selected high-technology

industries and motor vehicles and parts

Total industry -1.4 2.8 2.4 -2.0 -5.0 -.7 -1.2 -1.4 -1.5 -.1

Manufacturing2

-.9 1.3 .1 -2.4 -3.3 -.7 -1.5 -1.7 -1.4 .1

Stage-of-process components

of non-energy materials,

measures of the input to

Finished processors .4 .1 2.0 -4.4 -1.9 .2 -.2 -2.1 -1.4 .9

Primary and semifinished processors -1.0 2.0 .0 -4.3 -1.5 -.9 -2.2 -2.6 -2.9 1.2

STAGE-OF-PROCESS GROUPS

Crude -4.2 6.3 9.3 -.8 -10.5 -1.1 -1.6 -1.5 -2.7 -1.6

Primary and semifinished .4 2.1 1.3 -3.6 -3.8 -.4 -.5 -.8 -1.9 .4

Finished -1.2 1.9 1.4 -.8 -2.4 -.7 -1.1 -1.3 -.1 -.5

1. See footnote 1 to table 2.

2. See footnote 2 to table 2.

20
Table 4

ANNUAL RATES OF CHANGE FOR INDUSTRIAL PRODUCTION: 2016–201

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2016 2017 2018 2019 2020 2016 2017 2018 2019 2020

Total IP -2.2 1.3 3.2 -.8 -7.2 -.2 -1.0 -.8 -1.6 -.3

MARKET GROUPS

Consumer goods .6 -1.0 .8 -.8 -3.9 .0 -1.6 -1.3 .2 .2

Durable 2.3 -.2 3.2 -1.6 -7.3 .2 -1.7 1.0 -.1 1.7

Nondurable .1 -1.3 .1 -.6 -2.9 -.1 -1.5 -2.0 .2 -.3

Business equipment -5.3 4.6 3.9 -4.0 -13.7 .0 1.0 .7 -4.4 -.8

Defense and space equipment -3.6 2.3 2.2 9.8 1.8 -.7 .3 -.2 .6 3.5

Construction supplies .9 1.3 1.7 -1.9 -3.6 .1 -2.2 -1.0 -3.2 .9

Business supplies .0 .2 2.0 -2.2 -8.2 -.5 -2.1 1.2 -1.2 -.6

Materials -3.3 2.0 4.7 -.1 -8.0 -.3 -.7 -1.2 -2.1 -.8

Non-energy -1.0 .5 1.5 -3.0 -6.2 .1 -1.5 -1.7 -2.6 .5

Energy -7.5 5.1 10.2 4.5 -10.9 -1.4 1.1 .1 -.9 -3.0

INDUSTRY GROUPS

Manufacturing2-.8 .6 1.3 -2.0 -6.6 .0 -1.3 -1.0 -1.8 .2

Manufacturing (NAICS) -.7 .7 1.5 -1.9 -6.4 .0 -1.4 -1.2 -1.9 .2

Durable manufacturing -2.1 1.7 3.1 -2.1 -8.2 .0 -.5 -.2 -2.7 .8

Nondurable manufacturing .8 -.4 -.3 -1.8 -4.3 .0 -2.3 -2.2 -1.0 -.3

Other manufacturing (non-NAICS) -2.9 -.9 -3.3 -4.5 -14.8 -.3 -.3 6.5 2.7 -1.6

Mining -12.3 8.8 13.0 5.9 -14.2 -2.3 1.4 .6 -1.3 -3.8

Utilities -.5 -.8 4.9 -.8 -3.4 -.1 .0 .5 .2 -.4

1. The rates of change are calculated as the percent change in the annual averages of not seasonally adjusted industrial production indexes rather than as the percent change between the fourth

quarter of one year and the fourth quarter of the next.

2. See footnote 2 to table 2.

Table 5

RATES OF CHANGE IN CAPACITY, BY INDUSTRY GROUPS: 2017–211

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2017 2018 2019 2020 2021 2017 2018 2019 2020 2021

Total industry -.8 .5 1.4 -.1 .4 -1.2 -1.0 -.8 -.1 -.1

Manufacturing2-1.3 .1 .2 -.7 .1 -1.6 -.5 -1.2 -.5 -.1

Manufacturing (NAICS) -1.1 .3 .3 -.5 .3 -1.6 -.5 -1.1 -.5 -.2

Durable manufacturing -.1 .8 .5 -.4 .3 -.7 -.1 -1.2 -.5 -.3

Nondurable manufacturing -2.3 -.3 .1 -.7 .3 -2.7 -.9 -1.3 -.6 .0

Other manufacturing (non-NAICS) -5.0 -4.3 -5.3 -5.8 -5.5 -.8 -.7 -4.1 -1.9 1.0

Mining .1 2.9 7.4 .3 -1.1 -.3 -4.5 1.6 2.4 .5

Utilities 1.0 .6 1.7 2.9 2.6 -.3 -1.1 -.8 -.2 -.1

Selected high-technology industries -1.2 6.4 10.4 3.1 8.2 -5.1 3.4 3.3 -1.6 2.1

Manufacturing2ex. selected

high-technology industries -1.3 -.1 -.2 -.8 -.1 -1.5 -.7 -1.4 -.5 -.2

STAGE-OF-PROCESS GROUPS

Crude -.7 1.3 5.2 .1 -.5 -1.3 -4.0 .8 1.8 .5

Primary and semifinished -.9 -.3 .3 -.1 .6 -.8 -1.1 -1.4 -.3 .0

Finished -.8 1.2 .5 -.4 .1 -1.9 .2 -1.1 -.8 -.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 2.

21
Table 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)

Item 1972-

2020 2017 2018 2019 2020 2017 2018 2019 2020

Ave. Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4

Total industry 79.6 77.7 79.4 76.6 73.4 .1 -.1 -.6 -.5

Manufacturing178.2 77.1 77.5 75.4 74.0 1.3 .5 .4 .9

Manufacturing (NAICS) 31–33 78.1 77.3 77.7 75.6 74.2 1.1 .2 .0 .6

Durable manufacturing 76.8 76.4 77.6 74.7 73.1 1.6 .5 -.2 .9

Wood products 321 76.7 81.2 79.8 79.0 78.8 .6 2.3 2.3 2.2

Nonmetallic mineral products 327 73.4 67.9 68.7 69.0 72.1 .1 .8 2.3 6.7

Primary metals 331 77.7 68.0 72.0 68.7 65.7 -1.1 -2.6 -2.5 .0

Fabricated metal products 332 77.6 78.4 80.6 77.8 74.1 .0 -1.0 -2.6 -2.4

Machinery 333 77.6 76.5 80.3 75.5 76.3 1.9 .3 -1.5 1.4

Computer and electronic products 334 77.4 75.9 74.6 72.0 73.5 5.4 2.9 -.5 1.9

Electrical equip., appliances,

and components 335 81.6 76.1 76.6 74.3 74.4 1.2 .4 .9 2.7

Motor vehicles and parts 3361–3 75.1 77.0 79.0 72.4 73.6 .1 -.8 -1.6 -2.8

Aerospace and miscellaneous

transportation equipment 3364–9 74.2 78.9 75.6 77.1 66.1 3.5 -.9 1.4 -.8

Furniture and related products 337 77.1 79.7 82.5 81.3 79.6 1.7 4.6 4.9 10.0

Miscellaneous 339 76.7 80.1 83.2 78.1 77.4 .7 3.7 1.5 5.9

Nondurable manufacturing 79.9 78.4 77.8 76.6 75.5 .7 .0 .4 .4

Food, beverage, and tobacco products 311,2 80.3 78.5 76.5 76.7 76.5 1.5 .7 1.3 .6

Textile and product mills 313,4 78.3 68.7 71.7 69.1 65.3 -2.5 -.3 .3 .0

Apparel and leather 315,6 76.2 66.1 68.4 73.1 74.6 1.3 4.2 11.9 13.2

Paper 322 86.7 86.1 88.7 86.6 84.1 -.5 1.4 1.3 -.2

Printing and support 323 79.4 75.8 75.0 76.0 71.5 .5 2.2 5.6 5.8

Petroleum and coal products 324 84.7 83.7 83.1 78.5 70.1 2.8 2.8 -.5 -.1

Chemicals 325 76.6 75.1 74.2 73.1 73.9 -.3 -3.7 -3.0 -2.0

Plastics and rubber products 326 82.0 84.0 86.3 82.3 81.3 .3 5.5 6.8 6.6

Other manufacturing (non-NAICS) 1133,5111 79.5 70.5 70.8 69.1 66.7 4.8 9.5 12.0 12.1

Mining 21 86.2 80.7 89.4 83.7 69.6 -6.3 -2.8 -5.6 -9.3

Utilities 2211,2 85.0 78.8 80.8 78.0 73.4 -.4 .8 .8 .5

Selected high-technology industries 77.4 77.6 76.6 73.6 77.8 6.1 3.4 .5 4.5

Computers and peripheral equipment 3341 78.0 74.3 75.8 68.5 81.9 .5 2.6 -4.6 4.5

Communications equipment 3342 75.5 64.6 63.1 61.5 64.6 .4 .0 1.1 7.9

Semiconductors and related

electronic components 3344 78.9 84.5 83.4 80.5 84.5 10.4 5.3 .7 2.6

Measures excluding selected high-technology

industries

Total industry 79.7 77.7 79.4 76.7 73.3 .0 -.1 -.6 -.6

Manufacturing178.2 77.1 77.5 75.4 73.9 1.1 .4 .4 .8

STAGE-OF-PROCESS GROUPS

Crude 85.4 81.3 88.1 82.9 72.4 -4.7 -2.6 -5.1 -8.0

Primary and semifinished 80.2 77.9 79.2 76.0 73.4 1.0 1.2 .8 1.3

Finished 76.8 76.0 75.8 75.0 73.9 1.3 .1 .7 1.0

1. See footnote 2 to table 2.

22
Table 7A

INDUSTRIAL PRODUCTION: Manufacturing1

Seasonally adjusted

Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Q1 Q2 Q3 Q4 Annual2

IP (percent

change)

1991 -.7 -.7 -.7 .5 .7 .9 .5 .1 1.0 -.1 -.2 -.2 -8.8 1.9 7.4 1.6 -1.9

1992 -.6 .9 1.0 .5 .6 .3 .9 -.5 .1 .6 .4 -.1 .5 8.3 4.2 3.1 3.7

1993 .9 .3 -.2 .5 -.1 -.1 .2 -.2 .7 .9 .5 .6 4.7 1.3 .7 7.2 3.5

1994 .1 .2 1.3 .9 .6 .3 .4 .9 .4 .9 .8 1.1 4.9 9.6 6.1 10.0 5.9

1995 .2 -.3 .3 -.3 .3 .5 -.7 1.2 .9 -.1 .1 .4 4.4 .8 3.2 4.2 5.1

1996 -.7 1.5 -.2 1.3 .8 .9 .4 .4 .8 -.1 .9 .9 1.9 10.1 7.7 5.9 4.9

1997 .1 1.4 .9 -.1 .7 .6 .7 1.2 1.0 .9 1.0 .6 9.4 6.9 10.6 11.6 8.4

1998 .8 .2 -.2 .5 .5 -.7 -.4 2.4 -.1 .9 .1 .6 6.1 2.1 3.3 7.9 6.7

1999 .3 .9 .0 .3 .8 -.2 .4 .6 -.4 1.5 .7 .7 5.2 4.3 3.2 8.7 5.1

2000 .0 .3 .6 .6 .0 .2 .1 -.6 .5 -.4 -.3 -.6 4.5 4.9 -.4 -2.7 4.1

2001 -.5 -.7 -.2 -.4 -.6 -.6 -.5 -.4 -.4 -.5 -.4 .2 -5.9 -5.3 -5.9 -4.0 -3.7

2002 .6 .0 .7 .3 .5 1.0 -.1 .1 .1 -.4 .5 -.6 3.5 5.9 3.3 -.5 .4

2003 .8 -.1 .1 -.8 .0 .5 .3 -.4 .9 .1 .8 .0 2.0 -2.4 2.5 4.4 1.3

2004 -.1 .7 .0 .3 .7 -.7 .9 .5 .0 1.0 .0 .7 2.6 3.3 4.0 5.5 3.1

2005 .7 .9 -.5 .4 .3 .1 -.3 .6 -1.1 1.4 .9 .1 6.4 2.5 -.6 6.1 4.1

2006 .8 -.3 .0 .4 -.3 .3 -.3 .7 .1 -.5 .1 1.5 3.9 .8 1.0 1.5 2.6

2007 -.4 .3 .9 .7 -.1 .3 .0 -.3 .3 -.2 .5 .1 4.4 5.8 .4 1.2 2.8

2008 -.2 -.7 -.4 -1.0 -.6 -.7 -1.1 -1.2 -3.4 -.7 -2.5 -3.3 -2.5 -8.2 -13.7 -21.9 -4.8

2009 -3.2 -.1 -1.9 -.7 -1.1 -.2 1.6 1.1 1.0 .1 1.0 -.2 -24.7 -10.5 8.6 7.1 -13.8

2010 1.1 -.1 1.3 .8 1.3 .0 .6 .1 .0 .1 .1 .5 6.7 10.5 4.3 1.5 5.9

2011 .1 .2 .6 -.5 .0 .1 .6 .5 .3 .5 -.2 .7 2.9 -.2 4.4 3.8 2.9

2012 .8 .3 -.5 .5 -.4 .3 -.2 -.1 -.2 -.2 .6 .7 5.3 .6 -1.3 1.1 2.6

2013 -.3 .4 -.1 -.3 .3 .1 -.8 .9 .1 .1 .0 -.2 2.6 .1 .1 1.6 .9

2014 -1.0 .9 .8 .0 .3 .3 .5 -.6 .0 -.1 .7 -.2 -1.0 4.6 1.6 .2 1.1

2015 -.5 -.7 .3 .0 .0 -.4 .8 -.5 -.3 -.1 -.3 -.3 -3.2 -.7 .6 -2.9 -.6

2016 .5 -.3 -.1 -.2 .0 .2 .2 -.5 .2 .1 -.1 .0 -.3 -1.3 .1 .1 -.8

2017 .3 -.1 -.3 1.1 -.1 .0 -.2 -.3 .0 1.0 .0 -.2 .3 3.2 -1.8 3.6 .6

2018 -.4 .9 .1 .6 -.8 .5 .2 .2 .0 -.5 -.4 .2 .5 2.7 1.9 -2.4 1.3

2019 -.7 -.5 -.1 -.8 .1 .2 -.4 .5 -.6 -.7 .7 .0 -4.3 -3.5 -.5 -1.9 -2.0

2020 -.2 .0 -4.4 -15.8 4.6 7.3 4.0 1.6 .1 1.5 .6 .7 -5.7 -44.7 55.8 11.2 -6.6

2021 1.2 -3.6 3.0 .2 1.8

IP (2017=100)

1991 60.8 60.4 60.0 60.2 60.6 61.2 61.5 61.6 62.2 62.2 62.0 61.9 60.4 60.7 61.8 62.0 61.2

1992 61.5 62.1 62.7 63.1 63.4 63.6 64.2 63.9 64.0 64.4 64.6 64.6 62.1 63.4 64.0 64.5 63.5

1993 65.2 65.4 65.2 65.6 65.5 65.4 65.5 65.4 65.8 66.4 66.7 67.1 65.3 65.5 65.6 66.7 65.8

1994 67.2 67.3 68.1 68.8 69.2 69.4 69.6 70.2 70.5 71.2 71.8 72.5 67.5 69.1 70.1 71.8 69.6

1995 72.7 72.5 72.7 72.5 72.7 73.0 72.5 73.4 74.1 74.0 74.0 74.3 72.6 72.7 73.3 74.1 73.2

1996 73.8 74.8 74.7 75.6 76.2 76.9 77.2 77.6 78.2 78.1 78.8 79.5 74.4 76.2 77.7 78.8 76.8

1997 79.6 80.7 81.5 81.4 82.0 82.5 83.1 84.1 84.9 85.7 86.5 87.0 80.6 81.9 84.0 86.4 83.2

1998 87.6 87.8 87.6 88.0 88.5 87.8 87.4 89.6 89.5 90.3 90.4 90.9 87.7 88.1 88.8 90.5 88.8

1999 91.2 92.0 92.0 92.3 93.0 92.8 93.2 93.8 93.3 94.7 95.4 96.0 91.7 92.7 93.4 95.4 93.3

2000 96.1 96.3 96.9 97.6 97.6 97.7 97.8 97.1 97.6 97.2 96.9 96.4 96.4 97.6 97.5 96.9 97.1

2001 95.9 95.2 95.0 94.7 94.1 93.5 93.0 92.6 92.3 91.9 91.5 91.8 95.4 94.1 92.7 91.7 93.5

2002 92.3 92.3 93.0 93.3 93.7 94.6 94.5 94.6 94.7 94.4 94.9 94.3 92.5 93.9 94.6 94.5 93.9

2003 95.0 94.9 95.0 94.3 94.3 94.7 95.0 94.6 95.4 95.5 96.3 96.3 95.0 94.4 95.0 96.0 95.1

2004 96.2 96.9 96.9 97.2 97.9 97.2 98.1 98.6 98.6 99.5 99.5 100.2 96.7 97.5 98.4 99.7 98.1

2005 100.9 101.8 101.3 101.7 102.0 102.1 101.8 102.3 101.2 102.7 103.6 103.7 101.3 101.9 101.8 103.3 102.1

2006 104.5 104.2 104.2 104.6 104.3 104.6 104.2 105.0 105.1 104.6 104.7 106.2 104.3 104.5 104.8 105.2 104.7

2007 105.8 106.1 107.0 107.8 107.7 108.0 108.0 107.7 108.0 107.8 108.4 108.5 106.3 107.8 107.9 108.3 107.6

2008 108.2 107.5 107.0 106.0 105.3 104.6 103.5 102.2 98.8 98.1 95.7 92.5 107.6 105.3 101.5 95.4 102.4

2009 89.5 89.4 87.7 87.1 86.2 86.0 87.3 88.3 89.1 89.2 90.1 90.0 88.9 86.4 88.2 89.8 88.3

2010 90.9 90.8 92.0 92.7 93.9 93.9 94.4 94.5 94.6 94.6 94.8 95.2 91.2 93.5 94.5 94.9 93.5

2011 95.3 95.4 96.0 95.5 95.5 95.6 96.2 96.6 96.9 97.3 97.2 97.8 95.6 95.5 96.5 97.5 96.3

2012 98.7 99.0 98.5 99.0 98.7 98.9 98.7 98.6 98.4 98.2 98.8 99.5 98.7 98.9 98.6 98.8 98.8

2013 99.2 99.6 99.6 99.3 99.6 99.7 98.9 99.8 99.9 100.0 100.0 99.8 99.5 99.5 99.6 99.9 99.6

2014 98.8 99.7 100.6 100.5 100.8 101.1 101.6 101.0 101.0 100.9 101.6 101.4 99.7 100.8 101.2 101.3 100.7

2015 100.8 100.1 100.4 100.4 100.4 100.0 100.8 100.4 100.0 100.0 99.7 99.4 100.4 100.3 100.4 99.7 100.2

2016 99.9 99.5 99.4 99.3 99.2 99.4 99.6 99.1 99.3 99.4 99.3 99.3 99.6 99.3 99.3 99.3 99.4

2017 99.6 99.5 99.2 100.3 100.2 100.1 99.9 99.6 99.7 100.7 100.7 100.5 99.4 100.2 99.7 100.6 100.0

2018 100.1 101.0 101.2 101.8 101.0 101.5 101.8 102.0 102.0 101.5 101.1 101.3 100.8 101.4 101.9 101.3 101.3

2019 100.6 100.0 99.9 99.2 99.2 99.4 99.0 99.5 98.9 98.2 98.9 98.9 100.2 99.3 99.2 98.7 99.3

2020 98.7 98.7 94.3 79.4 83.1 89.1 92.7 94.1 94.2 95.6 96.2 96.8 97.2 83.8 93.7 96.2 92.7

2021 98.0 94.5 97.3 97.5 96.6

NOTE: Estimates from December 2020 through April 2021 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 2.

2. Annual averages of industrial production are calculated from not seasonally adjusted indexes.

23
Table 7B

CAPACITY AND UTILIZATION: Manufacturing1

Seasonally adjusted

Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Q1 Q2 Q3 Q4 Annual

Capacity

(percent of

2017 output)

1991 77.4 77.5 77.6 77.6 77.7 77.8 77.9 78.0 78.1 78.2 78.3 78.4 77.5 77.7 78.0 78.3 77.9

1992 78.6 78.8 79.0 79.1 79.3 79.5 79.8 80.0 80.1 80.3 80.5 80.7 78.8 79.3 79.9 80.5 79.6

1993 80.8 81.0 81.1 81.3 81.4 81.5 81.6 81.8 81.9 82.1 82.2 82.4 81.0 81.4 81.8 82.3 81.6

1994 82.6 82.8 83.1 83.3 83.6 83.8 84.1 84.4 84.7 85.0 85.3 85.6 82.8 83.6 84.4 85.3 84.0

1995 86.0 86.3 86.7 87.0 87.4 87.7 88.1 88.5 88.9 89.4 89.8 90.3 86.3 87.4 88.5 89.8 88.0

1996 90.7 91.2 91.7 92.2 92.7 93.2 93.7 94.2 94.7 95.2 95.8 96.3 91.2 92.7 94.2 95.8 93.5

1997 96.8 97.4 97.9 98.5 99.1 99.7 100.4 101.0 101.7 102.4 103.2 103.9 97.4 99.1 101.0 103.2 100.2

1998 104.7 105.5 106.2 107.0 107.8 108.5 109.2 109.9 110.5 111.1 111.7 112.3 105.5 107.8 109.8 111.7 108.7

1999 112.9 113.4 114.0 114.5 115.0 115.5 116.0 116.5 117.0 117.4 117.9 118.4 113.4 115.0 116.5 117.9 115.7

2000 118.9 119.4 119.9 120.4 120.9 121.3 121.8 122.3 122.8 123.3 123.7 124.2 119.4 120.9 122.3 123.7 121.6

2001 124.6 125.1 125.5 125.9 126.2 126.6 126.9 127.1 127.4 127.6 127.8 128.0 125.1 126.2 127.1 127.8 126.6

2002 128.1 128.2 128.3 128.4 128.4 128.5 128.5 128.5 128.5 128.5 128.5 128.5 128.2 128.4 128.5 128.5 128.4

2003 128.5 128.5 128.5 128.5 128.5 128.4 128.4 128.4 128.4 128.3 128.3 128.2 128.5 128.5 128.4 128.3 128.4

2004 128.2 128.2 128.1 128.1 128.0 128.0 128.0 128.0 128.1 128.2 128.3 128.4 128.2 128.0 128.1 128.3 128.1

2005 128.6 128.8 129.0 129.3 129.5 129.8 130.0 130.3 130.6 130.8 131.1 131.3 128.8 129.5 130.3 131.1 129.9

2006 131.5 131.8 132.0 132.2 132.4 132.6 132.9 133.1 133.4 133.7 134.0 134.3 131.8 132.4 133.1 134.0 132.8

2007 134.7 135.0 135.4 135.8 136.2 136.5 136.9 137.2 137.4 137.6 137.8 137.9 135.1 136.2 137.2 137.8 136.5

2008 138.0 138.0 137.9 137.8 137.7 137.6 137.4 137.2 137.1 136.9 136.7 136.5 138.0 137.7 137.2 136.7 137.4

2009 136.3 136.1 135.9 135.7 135.6 135.4 135.2 135.0 134.8 134.7 134.5 134.3 136.1 135.6 135.0 134.5 135.3

2010 134.1 133.9 133.7 133.4 133.2 133.0 132.7 132.5 132.3 132.1 131.9 131.7 133.9 133.2 132.5 131.9 132.9

2011 131.5 131.4 131.3 131.2 131.1 131.1 131.1 131.2 131.2 131.3 131.5 131.6 131.4 131.2 131.2 131.5 131.3

2012 131.7 131.9 132.0 132.2 132.3 132.5 132.6 132.8 132.9 133.1 133.2 133.3 131.9 132.3 132.8 133.2 132.5

2013 133.4 133.5 133.6 133.6 133.7 133.7 133.7 133.7 133.7 133.7 133.7 133.6 133.5 133.7 133.7 133.7 133.6

2014 133.6 133.5 133.5 133.4 133.3 133.2 133.1 133.0 132.9 132.7 132.6 132.4 133.5 133.3 133.0 132.6 133.1

2015 132.3 132.2 132.0 131.9 131.8 131.7 131.7 131.7 131.6 131.6 131.7 131.7 132.2 131.8 131.7 131.7 131.8

2016 131.8 131.9 131.9 132.0 132.1 132.2 132.2 132.3 132.3 132.3 132.2 132.2 131.9 132.1 132.3 132.2 132.1

2017 132.1 131.9 131.8 131.6 131.5 131.3 131.1 130.9 130.8 130.6 130.5 130.4 131.9 131.5 131.0 130.5 131.2

2018 130.4 130.3 130.3 130.3 130.3 130.3 130.4 130.5 130.5 130.6 130.7 130.8 130.3 130.3 130.5 130.7 130.4

2019 130.9 130.9 131.0 131.0 131.0 131.0 131.0 131.0 131.0 131.0 130.9 130.8 130.9 131.0 131.0 130.9 131.0

2020 130.8 130.7 130.6 130.5 130.4 130.4 130.3 130.2 130.1 130.1 130.0 130.0 130.7 130.4 130.2 130.0 130.3

2021 130.0 129.9 129.9 129.9 129.9

Utilization

(percent)

1991 78.6 78.0 77.3 77.6 78.0 78.7 79.0 79.0 79.7 79.5 79.2 78.9 78.0 78.1 79.2 79.2 78.6

1992 78.3 78.8 79.4 79.7 79.9 80.0 80.5 79.9 79.8 80.1 80.2 80.0 78.8 79.9 80.1 80.1 79.7

1993 80.6 80.7 80.4 80.7 80.4 80.2 80.3 79.9 80.3 80.9 81.1 81.4 80.6 80.4 80.2 81.1 80.6

1994 81.3 81.2 82.1 82.5 82.8 82.7 82.8 83.2 83.3 83.7 84.1 84.7 81.5 82.7 83.1 84.2 82.9

1995 84.5 84.0 83.9 83.3 83.2 83.3 82.3 82.9 83.3 82.8 82.4 82.3 84.1 83.3 82.8 82.5 83.2

1996 81.3 82.1 81.4 82.0 82.2 82.5 82.4 82.3 82.6 82.0 82.3 82.6 81.6 82.2 82.5 82.3 82.2

1997 82.2 82.9 83.2 82.6 82.7 82.7 82.8 83.3 83.5 83.6 83.8 83.7 82.8 82.7 83.2 83.7 83.1

1998 83.7 83.2 82.5 82.3 82.1 80.9 80.1 81.5 81.0 81.3 80.9 81.0 83.1 81.8 80.9 81.1 81.7

1999 80.8 81.1 80.7 80.6 80.9 80.3 80.3 80.5 79.8 80.7 80.9 81.1 80.9 80.6 80.2 80.9 80.6

2000 80.8 80.7 80.9 81.0 80.7 80.5 80.3 79.4 79.5 78.9 78.4 77.6 80.8 80.8 79.7 78.3 79.9

2001 76.9 76.1 75.7 75.2 74.5 73.9 73.3 72.9 72.5 72.0 71.6 71.7 76.3 74.5 72.9 71.8 73.9

2002 72.1 72.0 72.4 72.6 73.0 73.7 73.6 73.6 73.7 73.4 73.8 73.4 72.2 73.1 73.6 73.5 73.1

2003 74.0 73.9 73.9 73.4 73.4 73.7 74.0 73.7 74.3 74.4 75.1 75.1 73.9 73.5 74.0 74.9 74.1

2004 75.0 75.6 75.6 75.9 76.5 76.0 76.6 77.0 76.9 77.6 77.5 78.0 75.4 76.1 76.9 77.7 76.5

2005 78.4 79.0 78.5 78.7 78.7 78.7 78.3 78.5 77.5 78.5 79.0 78.9 78.6 78.7 78.1 78.8 78.6

2006 79.4 79.1 79.0 79.1 78.8 78.9 78.5 78.9 78.8 78.2 78.1 79.1 79.2 78.9 78.7 78.5 78.8

2007 78.5 78.6 79.0 79.4 79.1 79.1 78.9 78.5 78.6 78.4 78.7 78.7 78.7 79.2 78.7 78.6 78.8

2008 78.4 77.9 77.6 76.9 76.5 76.0 75.3 74.5 72.1 71.7 70.0 67.7 78.0 76.5 73.9 69.8 74.5

2009 65.7 65.7 64.5 64.2 63.6 63.5 64.6 65.4 66.1 66.2 67.0 67.0 65.3 63.8 65.4 66.7 65.3

2010 67.8 67.8 68.8 69.5 70.5 70.6 71.2 71.4 71.5 71.7 71.9 72.3 68.1 70.2 71.3 71.9 70.4

2011 72.4 72.6 73.1 72.8 72.8 72.9 73.3 73.6 73.8 74.1 73.9 74.4 72.7 72.8 73.6 74.1 73.3

2012 74.9 75.1 74.6 74.9 74.6 74.7 74.4 74.2 74.0 73.8 74.2 74.6 74.9 74.7 74.2 74.2 74.5

2013 74.4 74.6 74.5 74.3 74.5 74.6 74.0 74.6 74.7 74.8 74.8 74.7 74.5 74.5 74.5 74.8 74.6

2014 74.0 74.7 75.4 75.4 75.6 75.9 76.4 76.0 76.0 76.0 76.6 76.5 74.7 75.6 76.1 76.4 75.7

2015 76.2 75.7 76.0 76.1 76.2 75.9 76.6 76.2 76.0 75.9 75.7 75.4 76.0 76.1 76.3 75.7 76.0

2016 75.8 75.5 75.4 75.2 75.1 75.2 75.3 74.9 75.0 75.1 75.1 75.2 75.5 75.2 75.1 75.1 75.2

2017 75.4 75.4 75.3 76.2 76.2 76.3 76.2 76.1 76.2 77.1 77.2 77.0 75.4 76.2 76.2 77.1 76.2

2018 76.8 77.5 77.6 78.1 77.5 77.9 78.0 78.2 78.1 77.7 77.3 77.5 77.3 77.8 78.1 77.5 77.7

2019 76.8 76.4 76.3 75.7 75.7 75.9 75.6 76.0 75.5 75.0 75.6 75.6 76.5 75.8 75.7 75.4 75.8

2020 75.5 75.5 72.2 60.8 63.7 68.3 71.2 72.3 72.4 73.5 74.0 74.5 74.4 64.3 71.9 74.0 71.2

2021 75.4 72.7 74.9 75.1 74.4

NOTE: Estimates from December 2020 through April 2021 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 2.

24
Table 8

ANNUAL PROPORTIONS IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY

Item 2013 2014 2015 2016 2017 2018 2019 2020

Total IP 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

MARKET GROUPS

Final products and nonindustrial supplies 51.3 52.6 55.8 56.7 56.0 55.6 56.7 56.6

Consumer goods 24.2 24.8 27.2 28.3 27.6 27.1 27.6 28.4

Durable 5.0 5.4 6.1 6.4 6.1 6.0 6.1 6.0

Automotive products 2.6 2.8 3.3 3.6 3.4 3.4 3.4 3.2

Home electronics .2 .2 .2 .2 .1 .1 .2 .2

Appliances, furniture, carpeting .8 .8 .9 .9 .9 .9 .9 .9

Miscellaneous goods 1.5 1.6 1.7 1.8 1.6 1.6 1.7 1.7

Nondurable 19.1 19.4 21.1 21.9 21.5 21.1 21.5 22.4

Non-energy 14.4 14.9 16.5 17.0 16.2 15.7 16.3 16.9

Foods and tobacco 8.4 8.6 9.4 9.8 9.5 9.1 9.5 9.9

Clothing .2 .2 .2 .2 .2 .2 .2 .2

Chemical products 4.4 4.7 5.4 5.5 5.1 5.0 5.2 5.3

Paper products .9 .9 1.0 1.0 .9 .9 .9 1.0

Energy 4.8 4.6 4.6 4.9 5.3 5.4 5.1 5.5

Business equipment 9.6 10.0 10.3 10.0 10.2 10.2 10.2 9.2

Transit 2.3 2.6 2.9 2.8 3.1 3.1 3.0 2.1

Information processing 2.1 2.0 2.2 2.1 2.1 2.0 2.0 2.1

Industrial and other 5.2 5.3 5.3 5.1 5.0 5.1 5.2 5.0

Defense and space equipment 2.2 2.2 2.2 2.2 2.2 2.2 2.6 2.8

Construction supplies 3.8 4.0 4.4 4.6 4.6 4.6 4.7 5.0

Business supplies 10.4 10.5 10.9 11.1 10.8 10.7 10.8 10.7

Materials 48.7 47.4 44.2 43.3 44.0 44.4 43.3 43.4

Non-energy 26.5 27.1 28.3 28.5 27.9 27.5 27.3 27.4

Durable 16.2 16.9 17.4 17.5 17.1 17.0 17.0 16.7

Consumer parts 2.8 3.0 3.2 3.2 3.1 3.0 2.8 2.5

Equipment parts 5.0 5.3 5.3 5.1 5.0 4.9 5.0 4.9

Other 8.4 8.6 9.0 9.2 9.1 9.1 9.2 9.4

Nondurable 10.2 10.3 10.8 11.0 10.8 10.5 10.3 10.7

Textile .4 .4 .4 .4 .4 .4 .4 .4

Paper 1.8 1.8 1.9 1.9 1.8 1.7 1.7 1.6

Chemical 5.0 5.0 5.2 5.4 5.4 5.2 4.9 5.3

Energy 22.3 20.3 16.0 14.7 16.1 16.9 16.0 16.0

INDUSTRY GROUPS

Manufacturing 70.8 72.4 76.9 78.1 76.8 75.9 76.4 75.9

Manufacturing (NAICS) 31–33 68.5 70.1 74.5 75.8 74.6 73.8 74.3 73.9

Durable manufacturing 36.3 37.7 39.5 39.6 39.0 38.9 39.3 38.1

Wood products 321 1.1 1.2 1.3 1.4 1.4 1.4 1.4 1.7

Nonmetallic mineral products 327 1.7 1.9 2.1 2.2 2.1 2.1 2.2 2.3

Primary metals 331 2.6 2.6 2.5 2.6 2.6 2.6 2.4 2.3

Fabricated metal products 332 5.4 5.6 5.8 5.7 5.7 5.8 6.0 6.0

Machinery 333 5.6 5.8 5.7 5.4 5.4 5.5 5.5 5.4

Computer and electronic products 334 5.2 5.1 5.2 5.2 5.1 5.0 5.0 5.0

Electrical equip., appliances,

and components 335 1.7 1.8 1.9 1.9 1.8 1.8 1.9 1.9

Motor vehicles and parts 3361–3 4.6 5.1 5.8 6.1 5.7 5.7 5.6 4.9

Aerospace and miscellaneous

transportation equipment 3364–9 4.4 4.7 5.0 4.8 5.1 5.0 5.3 4.8

Furniture and related products 337 1.0 1.1 1.2 1.3 1.2 1.2 1.2 1.2

Miscellaneous 339 2.9 2.8 3.0 3.0 2.8 2.8 2.9 2.8

Nondurable manufacturing 32.2 32.5 35.0 36.2 35.6 34.9 35.0 35.7

Food, beverage, and tobacco products 311,2 10.3 10.6 11.6 12.1 11.6 11.4 11.9 12.4

Textile and product mills 313,4 .7 .7 .7 .7 .7 .6 .7 .6

Apparel and leather 315,6 .2 .2 .2 .2 .2 .2 .2 .2

Paper 322 2.5 2.5 2.6 2.6 2.5 2.4 2.4 2.4

Printing and support 323 1.4 1.4 1.5 1.5 1.5 1.4 1.4 1.3

Petroleum and coal products 324 3.2 2.9 2.8 2.9 3.7 3.8 3.4 3.3

Chemicals 325 10.9 11.1 12.1 12.4 11.9 11.5 11.4 11.9

Plastics and rubber products 326 3.0 3.2 3.5 3.7 3.5 3.5 3.6 3.5

Other manufacturing (non-NAICS) 1133,5111 2.3 2.3 2.4 2.4 2.2 2.1 2.1 2.0

Mining 21 19.7 17.4 12.3 10.7 12.4 13.4 12.5 12.2

Utilities 2211,2 9.6 10.1 10.8 11.1 10.8 10.7 11.1 11.9

Electric 2211 8.5 8.9 9.5 9.7 9.3 9.3 9.7 10.3

Natural gas 2212 1.1 1.2 1.3 1.5 1.5 1.4 1.5 1.7

NOTE: The IP proportion data are estimates of the industries’ relative contributions to the overall change in IP between the reference year and the following year. For example, a

1 percent increase in durable goods manufacturing between 2020 and 2021 would account for a 0.381 percent increase in total IP.

25
Table 9

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY

Seasonally adjusted

2017=100 Percent change

2020 2021 2020 2021 Apr. ’20 to

Industrial production Nov.r Dec.r

Jan.rFeb.r Mar.r Apr.r Nov.r Dec.rJan.rFeb.r Mar.r Apr.r Apr. ’21

Total index 97.2 98.3 99.3 96.4 98.5 99.0 .5 1.2 1.0 -2.9 2.2 .5 17.6

Previous estimates 104.8 105.9 106.8 103.1 105.6 106.3 .9 1.1 .9 -3.5 2.4 .7 16.5

Major market groups

Final Products 97.2 98.7 99.7 97.8 99.1 99.5 .5 1.5 1.0 -2.0 1.4 .4 23.8

Consumer goods 98.3 100.4 100.8 98.3 99.0 99.5 .1 2.2 .4 -2.5 .7 .5 18.5

Business equipment 91.2 91.6 93.4 91.5 94.1 94.1 1.1 .4 2.0 -2.0 2.9 .0 44.2

Nonindustrial supplies 95.0 96.1 96.5 94.6 96.2 96.1 .1 1.2 .4 -2.0 1.6 -.1 14.4

Construction 98.7 100.3 101.0 97.5 101.8 100.5 .5 1.7 .7 -3.4 4.4 -1.3 15.0

Materials 97.7 98.6 99.8 95.5 98.5 99.5 .8 .9 1.2 -4.2 3.1 .9 13.0

Major industry groups

Manufacturing (see note below) 96.2 96.8 98.0 94.5 97.3 97.5 .6 .7 1.2 -3.6 3.0 .2 22.9

Previous estimates 101.8 102.6 103.8 99.7 102.8 103.2 .9 .7 1.2 -4.0 3.1 .4 23.0

Mining 100.3 100.4 103.6 95.0 103.2 104.2 3.5 .1 3.2 -8.3 8.6 .9 1.2

Utilities 97.8 103.5 100.8 107.7 98.1 100.6 -2.5 5.8 -2.6 6.9 -8.9 2.5 1.3

Capacity

Percent of capacity growth

Average 1988- 1990- 1994- 2008-

1972- 89 91 95 09 2020 2020 2021 Apr. ’20 to

Capacity utilization 2020 high low high low Apr. Nov.r Dec.r

Jan.rFeb.r Mar.r Apr.r Apr. ’21

Total industry 79.6 85.2 78.8 85.1 66.6 63.4 73.3 74.2 74.9 72.7 74.2 74.6 -.1

Previous estimates 79.6 85.1 78.8 85.0 66.7 64.2 73.9 74.7 75.3 72.7 74.4 74.9 -.1

Manufacturing (see note below) 78.2 85.6 77.3 84.7 63.5 60.8 74.0 74.5 75.4 72.7 74.9 75.1 -.5

Previous estimates 78.1 85.5 77.3 84.6 63.7 60.1 73.1 73.7 74.6 71.6 73.8 74.1 -.2

Mining 86.2 86.0 83.8 88.3 78.3 71.7 70.3 70.6 73.0 67.0 72.9 73.7 -1.6

Utilities 85.0 93.1 84.6 93.2 78.0 73.8 71.4 75.4 73.2 78.1 71.0 72.6 2.8

Stage-of-process groups

Crude 85.4 87.7 84.6 89.7 76.5 72.1 73.0 73.2 74.7 67.0 72.4 73.9 -1.0

Primary and semifinished 80.2 86.5 78.1 87.9 63.5 64.7 72.8 74.2 74.3 73.8 73.7 74.0 .2

Finished 76.8 83.4 77.5 80.7 66.5 59.1 73.9 74.5 75.7 73.7 75.6 75.6 -.4

r Revised.

NOTE. The statistics in this release cover output, capacity, and capacity utilization in the U.S. industrial sector, which is defined by the Federal Reserve to comprise

manufacturing, mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the North American Industry Classification System (NAICS);

electric and gas utilities are those in NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33) plus the logging industry

and the newspaper, periodical, book, and directory publishing industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and information

respectively), but historically they were considered to be manufacturing and were included in the industrial sector under the Standard Industrial Classification (SIC)

system. In December 2002, the Federal Reserve reclassified all of its industrial output data from the SIC system to NAICS.

26
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 on the Board’s website at

www.federalreserve.gov/releases/G17. 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

from the Data Download Program on the Board’s website.

Instructions for searching for and downloading specific series are

provided as well.

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 2017. 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 2012, the total IP index has been constructed from 296

individual series based on the 2017 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 website at

www.federalreserve.gov/releases/G17/About.htm.

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 typically 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

and unit values or sales) by a corresponding Fisher price index; the

most notable of these fall within the high-technology grouping and

include 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 U.S.

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 the Federal

Reserve Bulletin February 1997 and March 2001.) In the IP index,

series that measure the output of an individual industry are combined

using weights derived from their proportion in the total value-added

output of all industries. The IP index, which extends back to 1919, is

built as a chain-type index since 1972. The current formula for the

growth in monthly IP (or any of the sub-aggregates) since 1972 is the

geometric mean of the change in output (I), and, as can be seen

below, is computed using the unit value added estimate for the current

month (pm) and the estimate for previous month:

I

A

m

I

A

m−1

=

s P

P

Impm−1

Im−1pm−1

×

P

P

Impm

Im−1pm

The IP proportions (typically shown in the first column of the relevant

tables in the monthly 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 6 percent. If output in this industry increased

10 percent in a month, then this gain would boost growth in total IP

by 6/10 percentage point (0.06 x 10% = 0.6%). To assist users with

calculations, the Federal Reserve’s website 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/ipweightssa.txt).

Timing. The first estimate of output for a month is published around

the 15th of the following month. The estimate is preliminary (denoted

by the superscript “p” in tables) and subject to revision in each of the

subsequent 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 74 percent of the

source data (in value-added terms) are available; the fraction of

available source data increases to 83 percent for estimates in the

second month that the estimate is published, 93 percent in the third

month, 97 percent in the fourth month, 98 percent in the fifth month,

and 98 percent in the sixth month. Data availability by data type in

2020 is summarized in the table below:

Availability of Monthly IP Data in Publication Window

(Percent of value added in 2020; the numbers may not sum because of

rounding.)

Month of estimate

Type of data 1st 2nd 3rd 4th 5th 6th

Physical product 31 40 50 54 55 55

Production-worker hours 43 43 43 43 43 43

IP data received 74 83 93 97 98 98

IP data estimated 26 17 7 3 2 2

The physical product group includes series based on either monthly or

quarterly data. As can be seen in the first row of the table, in the first

month, a physical product indicator is available for more than one-half

of the series (in terms of value added) that ultimately are based on

physical product data (31 percent out of a total of 55 percent). Of the

31 percent, about three-quarters (26 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 fourth estimate of industrial

production. Specifically, quarterly data are available for the third

estimate of the last month of a quarter, the fourth estimate of the

second month of a quarter, and the fifth estimate of the first month of

a quarter.

Seasonal adjustment. Individual series are seasonally adjusted using

Census X-13 ARIMA. For series based on production-worker hours,

the current seasonal factors were estimated with data through January

2021; for other series, the factors were estimated with data through at

least December 2020. 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.

Additional documentation and X-13 specifications can be found on

the Board’s website at

www.federalreserve.gov/releases/G17/About.htm.

Reliability. The average revision to the level of the total IP index,

without regard to sign, between the first and the fourth estimates was

0.29 percent during the 1987–2020 period. The average revision to

the percent change in total IP, without regard to sign, from the first to

the fourth estimates was 0.23 percentage point during the 1987–2020

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period. In most cases (about 85.57 percent), the direction of the

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 89 detailed industries

(71 in manufacturing, 16 in mining, and 2 in utilities), which mostly

correspond to industries at the three- and four-digit North American

Industry Classification System, or 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 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-technology industries and

manufacturing excluding high-technology 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 (for example, paper, industrial chemicals, petroleum

refining, motor vehicles), as well as for electric utilities and mining;

these industries represent about 26 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 Quarterly Survey of Plant Capacity (QSPC); these

industries account for about 68 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 6

percent of total industry capacity). A detailed description of the

methodology used to construct the capacity indexes is available on the

Board’s website

(www.federalreserve.gov/releases/G17/Meth/MethCap.htm).

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 survey of large companies

reported, on average, higher utilization rates than those reported by

establishments covered by the annual Survey of Plant Capacity (the

primary source of factory operating rates through 2006, after which it

was discontinued) for the fourteen years they overlapped.

Adjustments have been made to keep the industry utilization rates

currently reported by the Federal Reserve (now based on the QSPC)

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 Census utilization surveys.

Perspective. Over the 1972–2020 period, the average total industry

utilization rate was 79.6 percent; for manufacturing, the average

factory operating rate was 78.2 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

manufacturing, utilization rates have exceeded 90 percent only in

wartime. The highs and lows in capacity utilization are specific to

each series and do not all occur in the same month.

REFERENCES AND RELEASE DATES

References. The release for the annual revision that was published on

May 28, 2021, is available on the Board’s website (www.federal

reserve.gov/releases/g17/revisions/Current/DefaultRev.htm). A

summary of the annual revision that incorporated back to 1972

production and capacity indexes reclassified according to the North

American Industry Classification System is available in an article in

the Federal Reserve Bulletin, vol. 89 (April 2003), pp.151–176. 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/CapitalStockDocLatest.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, March 2006, May 2007, August 2008, August

2009) or in online staff studies

(www.federalreserve.gov/releases/g17/articles/rev2010/industrial10.pdf,

www.federalreserve.gov/releases/g17/articles/rev2012/industrial12.pdf,

www.federalreserve.gov/releases/g17/articles/rev2013/industrial13.pdf).

Release Schedule

In 2021, the G.17 will be published at 9:15 a.m. on:

January 15, February 17, March 16, April 15, May 14, June 15, July

15, August 17, September 15, October 18, November 16, and

December 16.

This release schedule is available on the Board’s website at

http://www.federalreserve.gov/releases/g17.

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