FEDERAL RESERVE statistical release

G.17 (419) 2012 Historical and Annual Revision For release at 12:00 noon (EDT)

March 30, 2012

Industrial Production and Capacity Utilization: The 2012 Annual Revision

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

capacity and capacity utilization.1 Measured from fourth quarter to fourth quarter, total IP is now reported to

have dropped 0.3 percentage point more in 2009; its gains in both 2010 and 2011 were essentially unchanged

from what was previously reported. With these minor revisions, the broad contour of total IP in recent years is

similar to previous estimates. Since the trough of the last recession in June 2009, total IP has reversed about

three-fourths of its peak-to-trough decline.

The revised IP indexes incorporate detailed data on factory activity for 2010 and revised data for 2009

from the U.S. Census Bureau’s Annual Survey of Manufactures (ASM). In addition, data from selected editions

of the Census Bureau’s Current Industrial Reports (CIR) for 2010 and annual data from the U.S. Geological

Survey regarding metallic and nonmetallic minerals (except fuels) for 2010 were used in the revised estimates.

The monthly estimates of production were updated to incorporate late-arriving or revised monthly or quarterly

indicator data (either outputs from or inputs to production), and they also reflect recalculations of seasonal

factors.

Capacity utilization rates for recent years were revised down. The revisions show that the rate of capacity

utilization for total industry was 0.7 percentage point lower than previously estimated in the fourth quarter of

2010 and 0.4 percentage point lower in 2011, primarily as a result of small upward revisions to estimates of

industrial capacity. The capacity utilization rate for the fourth quarter of 2008 was revised down 0.3 percentage

point, and the rate in the final quarter of 2009 was revised down about 0.8 percentage point.

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

Quarterly Survey of Plant Capacity Utilization (QSPC) for the fourth quarter of 2011, which covered the

manufacturing sector, along with new data on capacity in the energy and mining sectors from the U.S.

Geological Survey (USGS), the U.S. Department of Energy (DOE), and other organizations, as well as data on

industry capital spending from the 2010 ASM.

RESULTS OF THE REVISION

The tables show the summary statistics for the annual revision. Tables 1A and 1B present the monthly,

quarterly, and annual average index levels for total IP and for total capacity and utilization for January 1982

through February 2012, along with the percentage changes in total IP. Tables 2 through 4 show the revised rates

of change in IP from 2007 through 2011 for market groups, industry groups, special aggregates, and selected

detail. Table 5 presents the revised rates of change in capacity by industry groups for the 2008–12 period. Tables

2 through 5 also show the differences between the revised and previous estimates of the rates of change. Table 6

contains the revised capacity utilization rates for the final quarters of 2008 through 2011 and the differences

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 the production and capacity indexes for the years before 1972 were multiplied by a constant. However, utilization rates and the rates of change in IP for the

years before 1972 were not revised.

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between the revised and previous estimates. Table 7 reports revised semiannual rates of change for IP for 2007

through 2011. Table 8 contains revised capacity utilization rates for the second and fourth quarters of 2007

through 2011. Tables 9A, 9B, 10A, 10B, 11A, and 11B report the revised production, capacity, and utilization

series for total manufacturing, total industry excluding selected high-technology industries, and manufacturing

excluding selected high-technology industries. Table 12 displays the annual proportions in IP by market and

industry groups for 2004 through 2011. Table 13 reports revised IP indexes and capacity utilization rates for the

major market and industry groups for the previous six months. Table 14 shows price indexes for data networking

equipment.

Industrial Production

Revisions to changes in total IP in recent years were very small (tables 2 and 7). As can be seen in

chart 1, the overall contour for IP in recent years was little changed: A steep decline from late 2007 to June 2009

was followed by steady gains beginning in the second half of 2009 and continuing through early 2012.2

Production by Industry Group

Following modest gains in 2007, manufacturing production contracted sharply in 2008 and the first half

of 2009, falling by 20 percent over that period; since June 2009, manufacturing production has recovered about

two-thirds of this decline.3 The drop in 2008 was widespread, as output fell for all major manufacturing

industries, and the magnitudes of these declines were little revised. The decline in manufacturing for the first half

of 2009 was also broadly based and essentially unchanged from earlier estimates. Manufacturing output

advanced solidly in the second half of 2009 through 2011; the gain in 2010 is now reported to have been slightly

stronger than previously estimated while the rise in 2011 is about the same as previously reported.

For durable goods industries, output fell sharply in 2008 and the first half of 2009, and those declines are

now reported to have been a bit steeper in both years. The production of durable goods surged in the second half

of 2009 and in both 2010 and 2011; those gains are now reported to have been stronger in 2010 and slightly less

strong in 2011 than previously estimated. All major categories of durables with the exception of nonmetallic

mineral products increased in 2011, although for most industries, these gains are now reported to have been

somewhat weaker than stated earlier.

Production in nondurable manufacturing industries was little changed in 2007 before falling markedly in

2008 and in the first half of 2009. Beginning in the second half of 2009, the output of nondurables began to

increase and it has continued to advance at a moderate pace through 2011. Relative to earlier estimates, the rate

of change in nondurable goods production in 2007 is little changed, while the decline for 2008 is now reported to

be somewhat less steep and the decline for 2009 is now a bit larger. The increase in the output of nondurables

was revised down in 2010, but it revised slightly up in 2011.

The output index for industries not in the scope of manufacturing under the North American Industry

Classification System (NAICS) (that is, logging and publishing) fell each year from 2007 through 2011. The

declines are now reported to have been noticeably less steep in 2008 but somewhat larger in other recent years.

In the mining sector, output advanced modestly in 2007 and retreated nearly the same amount in 2008

before falling in 2009 and expanding strongly in 2010 and 2011. The rise in mining output was revised down in

2010 but revised up in 2011.

2

In this section, all the rates of change for a full year are calculated from the fourth quarter of the previous year to the fourth quarter of the reference year. Rates of

change on a half-year basis are shown in table 7.

3Manufacturing consists of those industries in the North American Industry Classification System definition of manufacturing, plus those industries—logging and

newspaper, periodical, book, and directory publishing—that were in the manufacturing sector under the Standard Industrial Classification system.

2
The output of utilities advanced in 2007 before declining in 2008 and 2009, gaining in 2010, and falling

in 2011. The estimates for utilities output for recent years are very similar to previous reports. The increase in

the index for utilities in 2010 was revised down due entirely to a revision to natural gas utilities.

Output in high-technology industries—computers and peripheral equipment, communications equipment,

and semiconductors and related electronic components—increased notably in 2007, fell somewhat in 2008, was

little changed in 2009, moved up in 2010, and advanced modestly in 2011 (table 3). Relative to earlier estimates,

production in the high-technology industries was lower, on net, over the 2007–11 period. Notably, output of

computers and peripheral equipment was revised down substantially in 2009 and 2010 as the ASM values for

computer output reflected a new, lower trajectory for the industry. Previously, the industrial production index for

computers showed solid gains in 2009 and 2010, but the current estimates reflect sizable declines. The rates of

change in the index for communications equipment are lower, on net, than previously reported. Revisions to the

output of semiconductors were generally small. One exception was for 2010 when output is now reported to

have expanded substantially more than in previous estimates.

Production by Market Group

The production index for final products and nonindustrial supplies (tables 2 and 7) posted a modest gain,

on net, in 2007 and then fell markedly in 2008 and the first half of 2009 before advancing solidly in 2010 and

2011. Relative to earlier reports, the decline in 2009 is now reported to have been steeper and the gain in 2010

less strong; the increase in 2011 is slightly larger than previously stated.

The production of consumer goods declined modestly in 2007 before falling more rapidly in 2008 and in

the first half of 2009. Compared with the previous estimates, the decrease in output for 2009 as a whole was

deeper, while the gain in 2010 was flatter; the increase in 2011 is now larger than previously reported. The

production of durable consumer goods advanced modestly in 2007 and then dropped steeply in 2008 through the

first half of 2009; output has increased consistently since the second half of 2009, with moderate gains in 2010

and a noticeable step-up in 2011. Among durable consumer goods, the index for automotive products increased

in 2007 and fell sharply in 2008; gains in 2009 were followed by a moderate increase in 2010 and a surge in

2011. The output of home electronics was revised substantially in 2009 and 2010; as a result, a small gain in

2009 is now reported as a decrease, and the decline in 2010 is much steeper than previously reported.

The index for consumer nondurables declined in the period from 2007 through the first half of 2009

before edging up in the second half of 2009 and in 2010 and 2011. Compared with the previously reported index,

the gain in 2010 is slower, and a small decrease in 2011 is now a small increase. The revised index for consumer

nondurable non-energy goods displays a similar contour to nondurables as a whole, although production is now

reported to have edged down in 2010 whereas it had previously increased. Revisions to the production index for

clothing made declines steeper in 2008, 2009, and 2011 and added to gains in 2010. The production of chemical

products increased in 2011 following declines in 2007 through 2010. The index for consumer energy products

advanced in 2007, 2008, and 2010, with small declines in 2009 and 2011.

The production of business equipment rose moderately in the second half of 2009 before posting rapid

gains in 2010 and 2011; these increases followed sharp declines in 2008 and in the first half of 2009. Downward

revisions contributed to a steeper decline for 2009 as a whole and a smaller increase in 2011. Among its

components, the production of transit equipment declined sharply in 2008 before advancing strongly in the

period from 2009 to 2011. The revised output of information processing equipment expanded in 2007 and fell in

2008 and 2009 before advancing in 2010 and 2011. The index for industrial and other equipment advanced at a

modest pace in 2007, declined steeply in 2008 and 2009, advanced rapidly in 2010, and continued to expand in

2011.

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The production of defense and space equipment surged in 2007, declined in 2008 and 2009, and

increased in 2010 and 2011; previous estimates had shown small gains in 2008 and 2009.

The output of construction supplies edged down in 2007 and declined steeply in 2008 and 2009 before

advancing in 2010 and 2011. The index was little changed from earlier estimates. The production of business

supplies edged up in 2007, fell in 2008 and 2009, and then increased moderately in 2010 and 2011. The

revisions in this category were also relatively small, and the index now shows slightly larger gains in 2010 and a

smaller increase in 2011 than previously reported.

The index for materials increased in 2007, declined in 2008 and in the first half of 2009, and advanced

strongly in the second half of 2009 and in 2010 and 2011. The decline in 2009 as a whole is now reported to

have been less steep and the increase in 2010 more robust than previously stated; revisions in other years were

small. The indexes for durable and nondurable materials show similar patterns through 2008 with moderate

gains in 2007, followed by steep declines in 2008. In 2009, the output of durable materials continued to contract

sharply, but it then rebounded strongly in 2010 and continued to increase in 2011. The production of nondurable

materials edged up in 2009 and rose moderately in 2010 before ticking down in 2011. The index for energy

materials moved up in 2007, declined modestly in 2008 and 2009, and then increased robustly in 2010 and 2011.

Capacity

Total industrial capacity was little changed in 2008, declined in 2009, and fell more in 2010 (table 5).

Capacity moved up in 2011 and is expected to expand modestly in 2012. Relative to previous estimates, the

decline in capacity in 2009 is now shallower and the increase in 2011 is less robust.

Capacity in manufacturing declined in each year from 2008 through 2010, with the largest decreases in

2009 and 2010; manufacturing capacity was little changed in 2011 and is expected to expand in 2012. The

contour of manufacturing capacity was little altered by revisions. Durable manufacturing capacity stepped down

in 2008, decreased more sharply in 2009 and 2010, and then advanced in 2011; it is expected to expand more

rapidly in 2012. Nondurable manufacturing capacity decreased in every year from 2008 through 2011. For

high-technology industries, capacity expanded solidly in 2011 and is expected to post further gains in 2012;

however, increases in both years are now smaller than previously reported.

Capacity at mines expanded in 2008 and 2009, edged down in 2010, and increased in 2011; capacity is

expected to increase in 2012. Relative to previous estimates, the rates of change are now stronger in all years

with the exception of 2012, when the expected increase is now smaller than reported earlier. Capacity at electric

and natural gas utilities increased steadily over the 2008–11 period; revisions were modest and boosted, on net,

the gains in recent years.

By stage of processing, capacity in the crude stage rose in 2008 and 2009, declined in 2010, and then

advanced in 2011 and 2012. In contrast, capacity at the primary and semifinished stage was little changed in

2008 and declined in both 2009 and 2010; capacity increased moderately in 2011 and is expected to post further

gains in 2012. Upward revisions boosted capacity gains at the crude stage in 2009 and made the decline in

capacity less steep for the primary and seminished stage in 2009 and 2010. Capacity at the finished stage

declined in each year from 2008 through 2010 and then advanced in 2011 and 2012. Downward revisions to

capacity in the finished stage added to declines in 2009 and 2010 and subtracted from gains in 2011.

Capacity Utilization

In 2008, the rate of capacity utilization for total industry, at 73.2 percent, was 7.1 percentage points below

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its long-run (1972 through 2011) average of 80.3 percent (table 6).4 Utilization rates fell in the first half of 2009

before increasing steadily through the end of 2011. Nevertheless, after these gains, the level in the fourth quarter

of 2011, at 77.8 percent, was 2.5 percentage points below its long-run average. Downward revisions lowered

capacity utilization for total industry in every year from 2008 through 2011.

Capacity utilization rates for manufacturing IP declined in 2008 and 2009 before gaining in 2010 and

2011. The factory operating rate is now estimated to have been lower in 2008 through 2010; capacity utilization

was revised slightly higher in 2011. After revisions, the utilization rate at the June 2009 trough of the recent

recession was 63.8 percent, the lowest level in the history of the series, which begins in 1948. By the fourth

quarter of 2011, the capacity utilization rate had risen to 76.0 percent, 2.8 percentage points below its long-run

average. The factory operating rate for durable manufacturing declined in 2009 and then increased in 2010 and

2011; revisions made the decline in 2009 more steep. In contrast, the utilization rate for nondurable

manufacturing increased for each year from 2009 through 2011, although revisions decreased the magnitude of

the gains in 2009 and 2010.

As of the fourth quarter of 2011, most major manufacturing industry groups were operating at rates

below their industry-specific long-run averages, although capacity utilization for manufacturing as a whole has

recovered most of the losses from the previous recession. Apart from petroleum and coal products, every major

industry in nondurable manufacturing was operating at utilization rates below its long-run average, with textile

and product mills; apparel and leather; and printing and support operating well below long-run averages. In

contrast, a number of durable goods industries including fabricated metal products; machinery; computer and

electronic products; aerospace and miscellaneous transportation equipment; and miscellaneous manufacturing

were operating at capacity utilization rates above their long-run averages. The selected high-technology

industries were operating at a capacity utilization rate of 75.1 percent in 2011, about 3 percentage points below

their long-run averages. Within high-technology industries, upward revisions in 2011 pushed factory operating

rates for computers and peripheral equipment and for communications equipment to near or above their long-run

averages.

Capacity utilization in mining was slightly above its long-run average in 2008 before falling in 2009 and

then increasing robustly in 2010 and 2011. Revisions lowered reported capacity utilization in every year from

2008 to 2011, but utilization was above its long-run average in 2011. The rate of capacity utilization for utilities

was 3.2 percentage points below its long-run average in 2008 and stepped down in each year from 2009 through

2011. The rate of utilization at utilities stood at 75.6 percent in 2011, 10.7 percentage points below its long-run

average of 86.3 percent.

TECHNICAL ASPECTS OF THE REVISION

This revision incorporated new comprehensive data from the 2010 ASM and revised data from the 2009

ASM for production and value added by manufacturing industries. Revised price indexes from the Bureau of

Economic Analysis (BEA) and updated price indexes constructed by the Federal Reserve for a few selected

industries were also incorporated.5In addition, the updated production indexes include revisions to the measures

of employment and production-worker hours from the Current Employment Statistics monthly survey by the

Bureau of Labor Statistics (BLS). The benchmark indexes for logging and publishing (included in the IP index

for manufacturing but no longer included in manufacturing under NAICS) were updated through 2010 based on

data from the U.S. Forest Service and the Census Bureau.

The revised IP indexes incorporated information from selected CIRs for 2011, the QSPC for 2011, and

4Unless otherwise noted, rates of capacity utilization are reported for the fourth quarter of the reference year.

5Price indexes for pharmaceuticals (NAICS 325412), for semiconductors (NAICS 334413), and for most components of communications equipment (NAICS 3342)

are constructed by the Federal Reserve from alternative sources. A table that lists annual and quarterly price indexes for the networking equipment component of

communications equipment follows the text.

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other annual industry reports.6 The indexes also incorporated revised monthly and quarterly source data on

production, shipments, and inventories.

Annual Benchmark Output Indexes and the Conversion to the 2007 North American Industry Classification

System

As part of the annual revision, a benchmark output index—defined to be the nominal gross output divided

by a price index—is constructed for each six-digit industry under the NAICS. In this revision, the benchmark

indexes were calculated for 1972 forward based on industries defined by the 2007 NAICS; previously the

benchmark indexes were based on the 2002 NAICS definitions of industries. Likewise, the industry basis for

capacity and utilization was changed to the 2007 NAICS. The 2007 NAICS included 16 six-digit manufacturing

industries that had different coverage than in the 2002 NAICS. For example, one industry included in the 2002

NAICS, laboratory apparatus and furniture manufacturing (NAICS 339111), was eliminated; its various

components were distributed among seven different six-digit industries in the 2007 NAICS.

The conversion to the 2007 NAICS did not affect the number or structure of individual IP series that are

published because the changes to NAICS occurred at a finer level of industrial detail than the corresponding

published IP series. For example, the most disaggregated IP index that included NAICS 339111 is the IP series

for medical equipment and supplies (NAICS 3391), which includes several other six-digit industries (NAICS

339112, 339113, 339114, 339115, and 339116) that are present in both the 2002 NAICS and the 2007 NAICS.

Although the published IP series were not affected by the transition to the 2007 NAICS, the benchmark

indexes for some industries needed to be updated. Looking again to the eliminated NAICS 339111, an

establishment that was assigned to this industry under the 2002 NAICS was reassigned to one of a handful of

other industries in the 2007 NAICS. To create a consistent history, new benchmarks needed to be constructed for

each receiving industry. The Census Bureau issued in 2011 a concordance between industries under the 2007

NAICS and those under the 2002 NAICS as part of the 2007 Census of Manufactures. This concordance

provided data on how shipments from 2002 NAICS industries would have been allocated to 2007 NAICS

industries, and vice-versa. These estimated allocations were then used on historic data to construct both gross

output estimates and price indexes on a 2007 NAICS basis going back to 1972. The revised benchmark indexes

mean that the adjustment factors to align the monthly production indicator with the benchmark for the IP series

associated with some of these industries also needed to be reestimated, both for series being used to estimate the

IP indexes for recent years as well as those that were only used in earlier periods.7

Benchmark indexes are measures of real gross output at the six-digit NAICS level. The Census Bureau

provides annual values for value added and the cost of materials, which can be summed to obtain nominal gross

output.8 The benchmark indexes for this revision incorporated new estimates of nominal gross output for 2010,

as well as revisions to the 2009 estimates, from the ASM. The IP index is a Fisher index and the individual real

gross output benchmarks are aggregated using value-added weights. To obtain real gross output, the measures of

nominal gross output are deflated by annual price deflators. The deflators for the IP benchmarks primarily reflect

industry shipments deflators, most recently issued by the BEA in December 2011. The BEA deflators are

available on a 2002 NAICS basis, so they needed to be converted to the 2007 NAICS structure before being

applied to the detailed nominal gross output data.

Since 2003, the ASM has not included separate data for every six-digit manufacturing industry; data for

some industries were included only as part of a larger group of industries. The 2007 Census, however, still

6The Census Bureau’s Current Industrial Reports were discontinued in mid-2011.

7The monthly production indicators include product data, production-worker-hour data, and, from the 1960s to 1997, electric power use by industry.

8Historically, the Census Bureau also provided measures of the cost of resales at the six-digit level and those were included in the nominal benchmark. In recent years,

however, the cost of resales has not always been available, so to maintain consistency, the benchmarks since 2003 have excluded the cost of resales.

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contained separate data for each six-digit industry. For 2003 through 2006, the IP benchmark indexes were

calculated by allocating the data from these combined industries to their six-digit components based on

interpolating between each component’s share of the total in the 2002 and 2007 Economic Censuses. Data from

the 2008, 2009, and 2010 ASMs were allocated to the component six-digit industries solely based on shares from

the 2007 Economic Census.

Changes to Individual Production and Capacity Series

A few production indicators were affected by methodological changes in this revision.

Computers

This revision updates the methods used to calculate four IP series for computers (business desktop

computers, consumer desktop computers, business mobile computers, and consumer mobile computers). These

four IP series are all components of NAICS 334111. The source data for computers come from the International

Data Corporation (IDC) and measure quarterly domestic absorption of computers. The 2010 annual revision

reported that the Federal Reserve received measures of absorption of only total desktops and total mobiles but

had ceased to acquire detailed information on the business and consumer components of these platforms. This

revision resumes the acquisition of absorption data from the IDC on business and consumer desktops and

mobiles. In addition to current-quarter data, the IDC has provided historical information, so the four IP series

can be constructed with a consistent methodology from the beginning of the IDC data in 1994 and continuing

through the present.

Natural gas extraction

The IP series for natural gas extraction (NAICS 211111, pt.) uses as primary source data the marketed

production of natural gas from the DOE’s Natural Gas Monthly report. The DOE report is generally issued with

a three-month lag; for example, when IP is published in mid-April, natural gas data are only available through

January even though the IP window would run through March. This revision incorporates new, more timely,

source data from Bentek Energy to supplement the DOE data. Bentek provides daily information on the

production of natural gas. The Federal Reserve converts the data from Bentek to a monthly frequency and uses

them as a secondary source to inform early estimates for natural gas extraction until the data from the DOE

become available.

Trucks

This revision incorporates new data and methods for constructing the share of light truck output that is

associated with business output and the share associated with consumer output. The IP indexes for trucks

(NAICS 336112) are constructed from data on total assemblies from WardsAuto. Because the IP structure parses

industry output into demand-based segments called market groups, it is necessary to assign vehicle assemblies

into business and consumer components. The IP indexes use data from the BEA and annual data from CNW

Research on the number of leased trucks to help determine the business and consumer shares of both car and

truck production. With this revision, the Federal Reserve incorporated monthly data on factory shipments of

class 2 and 3 truck chassis from the National Truck Equipment Association and factory shipments of light trucks

for classes 1 through 3 from WardsAuto to extend and interpolate the annual figures for the business share of

overall light truck production.

Veneer, plywood, and engineered wood product

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The capacity series for veneer, plywood, and engineered wood product (NAICS 3212) has been updated

with this revision. Previously, the series used data from the Composite Panel Association (CPA) on the capacity

of particleboard and fiberboard producers. This revision incorporates additional data. The capacity series

continues to use the CPA data but now also uses information from APA - The Engineered Wood Association on

the capacity of producers of plywood and oriented strand board.

Discontinuation of the U.S. Census Bureau’s CIRs

In mid-2011, the U.S. Census Bureau discontinued its CIR series. These data releases provided detailed

product information at the monthly, quarterly, and annual frequencies for a variety of industries. The last release

for monthly data was for July 2011, and the last release of quarterly data was for the second quarter of 2011. The

Federal Reserve extensively used the CIRs in the indexes of industrial production and capacity utilization, and

their elimination necessitated changes in underlying source data for several IP series. The following list shows

the monthly CIRs that were used in industrial production and their corresponding IP series:

1. M311J: Fats and Oil: Oilseed Crushings (Corn oil; Soybean and other oilseed processing)

2. M311K: Fats and Oils: Production, Consumption, and Stocks (Fats and oils refining and blending)

3. M313P: Consumption on the Cotton System and Stocks (Fiber, yarn, and thread mills).

With this revision, each of the three affected IP series will use production-worker hours to extend the

discontinued CIR data.

The list below shows the discontinued quarterly CIRs that were used in industrial production and their

associated IP series:

1. MQ311A: Flour Milling Products (Flour milling and malt)

2. MQ325A: Inorganic Chemicals (Acids, phosphates, and sulfates; Other inorganic chemicals)

3. MQ325B: Fertilizers and Related Chemicals (Other inorganic chemicals; Fertilizer)

4. MQ325F: Paint, Varnish, and Lacquer (Construction paints; Industrial paints)

5. MQ327D: Clay Construction Products (Ceramic tile and refractory; Brick and structural clay tile; Other

structural clay product)

6. MQ333W: Metalworking Machinery (Machine tools)

7. MQ334P: Telecommunications (Data networking equipment; Transmission, local loop, and legacy central

office equipment; Enterprise and home voice equipment; Satellites and earth station equipment; Wireless system

equipment; Radio and TV broadcasting equipment excluding satellites and other communications equipment)

8. MQ334R: Computers and Peripheral Equipment (Computer storage and terminals, business; Computer

storage and terminals, consumer; Computer printers, business; Computer printers, consumer).

Other than the changes to IP series described below, this revision uses production-worker hours to extend

the IP series associated with the discontinued quarterly CIRs.

For some of the IP series related to discontinued quarterly CIRs, the Federal Reserve used alternate

measures of physical output to replace the lost data.

Fertilizer

With this revision, the IP series for fertilizer (NAICS 32531) uses monthly data on nitrogen and

phosphate fertilizer from the Fertilizer Institute (TFI) as the primary source of data on output. Previously, the

monthly TFI data were used as a secondary source for months in which the quarterly CIR data were not yet

available, and they were also used to interpolate the quarterly data to a monthly frequency.

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Communications Equipment

This revision updates the data and methods used to calculate the six IP series for communications

equipment (data networking equipment; transmission, local loop, and legacy central office equipment; enterprise

and home voice equipment; satellites and earth station equipment; wireless system equipment; radio and TV

broadcasting equipment excluding satellites and other communications equipment). These six series are all

components of NAICS 3342. With the discontinuation of the CIR for telecommunications equipment, the

Federal Reserve has begun using information from the QSPC to extend each of the six IP series from the third

quarter of 2011 through the present.

The QSPC, conducted since 2007, reports capacity utilization rates for manufacturing industries on a

quarterly frequency. In recent years, the utilization rates from that survey for communications equipment have

tracked nominal output of that industry, as measured by the discontinued CIR, fairly well. With this revision, the

nominal data on communications equipment from the CIR are being extended based on the change in the

industry operating rate from the QSPC and an interpolated change in capital services for this industry

(constructed based on historical investment data and a survey of investment plans). The resulting estimate for

nominal output continues to be deflated by price indexes calculated from price data from Dell’Oro and producer

price indexes from the BLS.

Computers

The discontinued quarterly CIR for computers and peripheral equipment was used for four IP series

(Computer storage and terminals, business; Computer storage and terminals, consumer; Computer printers,

business; Computer printers, consumer). These four series cover part of NAICS 3341; six other IP series cover

the remainder of NAICS 3341 and rely on data from the IDC on domestic absorption of desktops, mobiles, and

servers. In the absence of the CIR data, IDC data on personal computers are used to extend IP series for computer

storage and terminals, and IDC data on non-x86 servers are used to extend IP series for computer printers.

Weights for Aggregation

The IP index is a Fisher index. The weights for manufacturing industries are derived from value-added

measures from the Census of Manufactures and the ASM. The Federal Reserve derives estimates of value added

for the electric and gas utility industries from annual revenue and expense data issued by other organizations.

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

prices for the period after 2010. Table 12 shows the annual value-added proportions in the IP index from 2004

through 2011.

Revised Quarterly and Monthly Data

This revision incorporates product data 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

Seasonal factors for all series were reestimated using data that extend into 2012. Factors for

production-worker hours—which adjust for timing, holiday, and monthly seasonal patterns—were updated with

data through January 2012. The updated factors for the physical product series, which include adjustments for

holiday and workday patterns, used data through December 2011 where available. Seasonal factors for unit

motor vehicle assemblies have been updated, and projections through December 2012 are on the Board’s website

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at www.federalreserve.gov/releases/g17/mvsf.htm.

The 2010 annual revision introduced a pre-adjustment to many seasonal factors to account for the effects

of the recent recession. The current revision continued those pre-adjustments where necessary. A more detailed

description of these methods will be included in a forthcoming Federal Reserve publication.

Data Availability and Publication Changes

Files containing the revised data and the text and tables from this release are available on

the Board’s website at www.federalreserve.gov/releases/g17, as are updated data for the annual

revision and for all of the regularly issued series on industrial production, capacity, and capacity

utilization. Further information on these revisions is available from the Board’s Industrial Output

Section (telephone 202-452-3197).

A document with printed tables of the revised estimates of series shown in the G.17 release

is available upon request to the Industrial Output Section, Mail Stop 82, Division of Research and

Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551.

An expanded version of this release will be published in a forthcoming report that will be

available on the Board’s website.

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1. Total industrial production, capacity, and utilization

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

 Research (NBER). 

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

 55

 60

 65

 70

 75

 80

 90

100

110

120

130

Capacity

Production

Revised

Earlier

Ratio scale, 2007 output = 100

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

62

66

70

74

78

82

86

Utilization

Percent of capacity

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2. Manufacturing industrial production, capacity, and utilization

 Notes: The shaded areas are periods of business recession as defined by the NBER. 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.

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

 50

 55

 60

 65

 70

 80

 90

100

110

120

130

Capacity

Production

Revised

Earlier

Ratio scale, 2007 output = 100

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

62

66

70

74

78

82

86

Utilization

Percent of capacity

12
 3. Industrial production and capacity utilization

 Notes: High-technology industries are defined as semiconductors and related electronic components

 (NAICS 334412-9), computers (NAICS 3341),and communications equipment (NAICS 3342).

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

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

 55

 60

 65

 70

 75

 80

 85

 90

 95

100

105

Excluding

high-technology

industries

Total IP

 Industrial production Ratio scale, 2007 output = 100 

1990 1995 2000 2005 2010

 50

 60

 70

 80

 90

100

High-technology

industries

Excluding

high-technology

industries

 Capacity utilization Percent of capacity 

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

-20

-15

-10

 -5

 0

 5

 10

 15

Total IP

Excluding the

contribution

of high-technology

industries

 Industrial production Percent change from year earlier 

2004 2006 2008 2010 2012

 35

 40

 45

 50

 60

 70

 80

 90

100

120

140

160

Computers

Communications eq.

Semiconductors

 Industrial production Ratio scale, 2007 = 100 

13
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

4. Consumer goods

Total Ratio scale, 2007 output = 100

 60

 70

 80

 90

100

110

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Components of consumer goods Ratio scale, 2007 output = 100

 45

 65

 85

105

125

Durable

Nondurable

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

Revised durable

Revised nondurable

Earlier

Detail: 2009 to present

80

85

90

95

100

2009 2010 2011 2012

Detail: 2009 to present

65

70

75

80

85

90

95

100

105

2009 2010 2011 2012

14
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

5. Equipment

Total Ratio scale, 2007 output = 100

 30

 50

 70

 90

110

130

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

homes.

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Business equipment Ratio scale, 2007 output = 100

 20

 40

 60

 80

100

120

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Defense and space equipment Ratio scale, 2007 output = 100

 60

 80

100

120

140

160

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

Detail: 2009 to present

 75

 85

 95

105

115

2009 2010 2011 2012

Detail: 2009 to present

 75

 85

 95

105

115

2009 2010 2011 2012

15
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

6. Nonindustrial supplies

Total Ratio scale, 2007 output = 100

 50

 70

 90

110

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Construction supplies Ratio scale, 2007 output = 100

 50

 70

 90

110

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Business supplies Ratio scale, 2007 output = 100

 50

 70

 90

110

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

Detail: 2009 to present

 75

 80

 85

 90

2009 2010 2011 2012

Detail: 2009 to present

 65

 70

 75

 80

 85

 90

2009 2010 2011 2012

Detail: 2009 to present

 80

 85

 90

 95

100

2009 2010 2011 2012

16
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

7. Industrial materials

Total Ratio scale, 2007 output = 100

 50

 70

 90

110

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Energy materials Ratio scale, 2007 output = 100

 60

 80

100

120

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Non-energy materials Ratio scale, 2007 output = 100

 40

 60

 80

100

120

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

Detail: 2009 to present

80

85

90

95

100

105

2009 2010 2011 2012

17
8. Capacity utilization by stage of process

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

 70

 75

 80

 85

 90

 95

100

Crude processing

Revised

Earlier

Capacity utilization Percent of capacity

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

60

65

70

75

80

85

90

95

Primary and 

semifinished processing

Capacity utilization Percent of capacity

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

60

65

70

75

80

85

90

Finished processing

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

Capacity utilization Percent of capacity

18
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)

1982 -2.0 2.0 -.7 -.9 -.6 -.3 -.3 -.8 -.4 -.8 -.4 -.7 -7.9 -4.8 -5.5 -7.2 -5.2

1983 1.9 -.6 .8 1.2 .7 .5 1.5 1.1 1.5 .8 .3 .5 4.7 9.2 14.3 10.7 2.7

1984 2.0 .5 .5 .6 .5 .4 .3 .1 -.2 -.1 .4 .1 12.4 6.3 3.0 .3 8.9

1985 -.2 .4 .1 -.2 .1 .1 -.7 .4 .4 -.4 .3 1.0 1.1 .4 -.7 2.4 1.2

1986 .5 -.7 -.6 .1 .2 -.3 .6 -.2 .2 .5 .5 .9 2.4 -2.3 1.6 4.6 1.0

1987 -.3 1.3 .2 .6 .7 .5 .6 .7 .3 1.5 .5 .5 5.4 7.3 7.3 10.2 5.2

1988 .1 .4 .2 .5 -.1 .2 .1 .5 -.4 .5 .2 .4 3.6 3.4 1.8 2.8 5.2

1989 .3 -.4 .3 .0 -.7 .1 -1.0 .9 -.3 -.1 .3 .6 1.7 -1.4 -2.6 1.6 .9

1990 -.6 .9 .5 -.1 .2 .3 -.1 .2 .2 -.8 -1.2 -.7 2.8 3.0 1.7 -6.2 1.0

1991 -.4 -.6 -.5 .2 1.0 1.0 .0 .1 .9 -.2 -.1 -.3 -7.4 2.5 5.5 .8 -1.5

1992 -.6 .8 .8 .7 .4 .0 .9 -.5 .2 .8 .4 .0 -.5 7.3 2.9 4.1 2.8

1993 .5 .4 .0 .3 -.4 .2 .3 .0 .5 .7 .4 .5 3.5 1.1 2.0 6.1 3.3

1994 .4 .0 1.0 .5 .6 .7 .2 .6 .2 .8 .6 1.1 5.1 7.5 5.1 8.1 5.3

1995 .3 .0 .2 -.1 .2 .3 -.4 1.3 .4 -.2 .2 .3 5.0 1.2 3.8 3.2 4.7

1996 -.7 1.6 -.1 .9 .7 .9 -.1 .6 .5 .0 .8 .6 2.6 8.7 5.5 5.3 4.4

1997 .1 1.2 .8 .0 .7 .5 .6 1.3 .9 .7 .9 .4 7.7 6.5 9.8 10.1 7.2

1998 .5 .1 .1 .4 .7 -.6 -.4 2.1 -.3 .8 -.1 .3 4.4 2.9 2.9 5.4 5.8

1999 .4 .4 .2 .2 .7 -.2 .7 .4 -.3 1.3 .5 .8 4.1 3.9 4.0 7.5 4.3

2000 .1 .4 .4 .6 .1 .1 -.2 -.3 .5 -.4 .0 -.3 4.7 4.6 -.6 -1.3 4.0

2001 -.7 -.6 -.3 -.3 -.7 -.6 -.5 -.3 -.3 -.5 -.5 .0 -5.6 -5.3 -5.5 -4.6 -3.4

2002 .6 .0 .8 .4 .6 .9 -.3 .2 .1 -.4 .5 -.5 2.7 6.5 2.4 -.4 .2

2003 .8 .4 -.2 -.8 .0 .0 .3 -.1 .6 -.1 .8 .0 3.2 -3.2 1.9 3.3 1.2

2004 .3 .6 -.6 .4 .7 -.9 .7 .3 .0 1.0 .2 .7 2.8 1.7 2.2 5.8 2.3

2005 .5 .6 -.1 .0 .2 .4 -.1 .1 -2.0 1.3 .9 .6 5.9 1.8 -1.6 3.2 3.3

2006 .1 .1 .2 .5 -.2 .4 .1 .2 -.2 -.1 -.1 1.0 4.0 2.5 1.5 .6 2.2

2007 -.4 1.2 .0 .8 -.1 .0 .1 .0 .5 -.6 .5 .1 4.1 4.6 1.0 .6 2.5

2008 -.3 -.2 -.4 -.8 -.5 -.3 -.5 -1.7 -4.1 .8 -1.2 -2.7 -1.2 -5.9 -12.5 -15.9 -3.5

2009 -2.2 -.6 -1.7 -.9 -1.1 -.4 1.0 1.0 .6 .2 .4 .5 -19.6 -11.4 5.0 5.6 -11.4

2010 1.0 .4 .6 .4 1.6 .2 .7 .2 .4 -.4 .3 1.1 7.9 8.6 6.6 2.2 5.4

2011 .1 -.2 .8 -.5 .3 .1 .9 .3 .2 .5 .0 .9 4.4 1.2 5.6 4.3 4.0

2012 .5 .0

IP (2007=100)

1982 48.8 49.8 49.4 49.0 48.7 48.5 48.4 48.0 47.8 47.4 47.2 46.9 49.3 48.7 48.0 47.1 48.3

1983 47.8 47.5 47.9 48.4 48.8 49.0 49.8 50.3 51.1 51.5 51.7 51.9 47.7 48.7 50.4 51.7 49.6

1984 53.0 53.2 53.5 53.8 54.1 54.3 54.5 54.5 54.4 54.3 54.5 54.6 53.2 54.1 54.5 54.5 54.1

1985 54.5 54.7 54.8 54.7 54.7 54.7 54.4 54.6 54.8 54.6 54.8 55.4 54.6 54.7 54.6 54.9 54.7

1986 55.6 55.2 54.9 54.9 55.0 54.8 55.2 55.1 55.2 55.4 55.7 56.2 55.3 54.9 55.1 55.8 55.3

1987 56.0 56.7 56.8 57.2 57.5 57.8 58.2 58.6 58.8 59.7 60.0 60.3 56.5 57.5 58.5 60.0 58.1

1988 60.3 60.5 60.7 61.0 61.0 61.1 61.2 61.5 61.2 61.6 61.7 61.9 60.5 61.0 61.3 61.7 61.1

1989 62.1 61.8 62.0 62.0 61.6 61.7 61.1 61.6 61.4 61.4 61.5 61.9 62.0 61.8 61.4 61.6 61.7

1990 61.6 62.1 62.4 62.4 62.5 62.7 62.6 62.8 62.9 62.4 61.7 61.2 62.0 62.5 62.8 61.8 62.3

1991 61.0 60.6 60.3 60.3 61.0 61.6 61.6 61.6 62.2 62.0 62.0 61.7 60.6 61.0 61.8 61.9 61.3

1992 61.4 61.8 62.3 62.8 63.0 63.0 63.5 63.2 63.4 63.8 64.1 64.1 61.8 62.9 63.4 64.0 63.0

1993 64.4 64.7 64.6 64.8 64.6 64.8 65.0 65.0 65.3 65.7 66.0 66.3 64.6 64.7 65.1 66.0 65.1

1994 66.6 66.6 67.3 67.7 68.1 68.5 68.6 69.0 69.2 69.8 70.2 71.0 66.9 68.1 68.9 70.3 68.5

1995 71.1 71.1 71.2 71.2 71.4 71.6 71.3 72.3 72.5 72.4 72.6 72.8 71.2 71.4 72.0 72.6 71.8

1996 72.4 73.5 73.4 74.1 74.6 75.3 75.2 75.7 76.1 76.1 76.7 77.2 73.1 74.6 75.6 76.6 75.0

1997 77.2 78.2 78.8 78.8 79.3 79.7 80.2 81.3 82.0 82.5 83.3 83.6 78.1 79.3 81.2 83.1 80.4

1998 84.0 84.0 84.1 84.4 85.0 84.5 84.1 85.9 85.7 86.3 86.3 86.6 84.0 84.6 85.2 86.4 85.1

1999 86.9 87.3 87.5 87.7 88.4 88.2 88.8 89.2 88.9 90.1 90.5 91.2 87.2 88.1 89.0 90.6 88.7

2000 91.3 91.6 92.0 92.6 92.7 92.8 92.6 92.3 92.8 92.3 92.3 92.0 91.6 92.7 92.5 92.2 92.3

2001 91.4 90.8 90.6 90.3 89.6 89.1 88.7 88.4 88.2 87.7 87.2 87.3 90.9 89.7 88.4 87.4 89.1

2002 87.8 87.7 88.4 88.8 89.3 90.1 89.8 89.9 90.0 89.7 90.1 89.7 88.0 89.4 89.9 89.8 89.3

2003 90.4 90.7 90.5 89.8 89.8 89.8 90.1 90.0 90.6 90.5 91.2 91.2 90.5 89.8 90.2 91.0 90.4

2004 91.4 91.9 91.4 91.8 92.5 91.7 92.3 92.6 92.5 93.5 93.7 94.3 91.6 92.0 92.5 93.8 92.5

2005 94.8 95.4 95.3 95.3 95.5 95.9 95.7 95.9 94.0 95.2 96.1 96.7 95.2 95.6 95.2 96.0 95.5

2006 96.8 96.9 97.1 97.5 97.4 97.7 97.8 98.0 97.8 97.8 97.6 98.7 96.9 97.5 97.9 98.0 97.6

2007 98.2 99.4 99.4 100.2 100.1 100.1 100.2 100.2 100.7 100.1 100.6 100.7 99.0 100.1 100.4 100.5 100.0

2008 100.4 100.3 99.9 99.1 98.6 98.4 97.9 96.2 92.3 93.0 91.9 89.4 100.2 98.7 95.5 91.4 96.5

2009 87.4 86.9 85.4 84.7 83.8 83.5 84.3 85.1 85.7 85.9 86.2 86.6 86.6 84.0 85.0 86.2 85.4

2010 87.4 87.8 88.3 88.7 90.1 90.2 90.9 91.1 91.4 91.1 91.4 92.4 87.8 89.7 91.1 91.6 90.1

2011 92.5 92.3 93.1 92.6 92.9 93.1 93.9 94.2 94.4 94.9 94.9 95.7 92.6 92.9 94.2 95.2 93.7

2012 96.2 96.2

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

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

19
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

2007 output)

1982 65.0 65.2 65.3 65.4 65.6 65.7 65.8 65.9 65.9 66.0 66.0 66.1 65.2 65.6 65.9 66.0 65.7

1983 66.1 66.2 66.2 66.2 66.2 66.2 66.3 66.3 66.3 66.4 66.4 66.5 66.2 66.2 66.3 66.4 66.3

1984 66.6 66.6 66.7 66.8 67.0 67.1 67.2 67.4 67.5 67.7 67.9 68.0 66.6 67.0 67.4 67.9 67.2

1985 68.2 68.4 68.6 68.7 68.9 69.1 69.2 69.3 69.5 69.6 69.7 69.8 68.4 68.9 69.3 69.7 69.1

1986 69.9 70.0 70.0 70.1 70.1 70.2 70.3 70.3 70.4 70.5 70.6 70.7 70.0 70.1 70.3 70.6 70.3

1987 70.8 71.0 71.1 71.3 71.4 71.6 71.7 71.8 72.0 72.1 72.2 72.3 71.0 71.4 71.8 72.2 71.6

1988 72.3 72.4 72.4 72.4 72.5 72.5 72.5 72.6 72.6 72.6 72.7 72.8 72.4 72.5 72.6 72.7 72.5

1989 72.9 73.0 73.1 73.2 73.4 73.5 73.7 73.8 74.0 74.1 74.3 74.5 73.0 73.4 73.8 74.3 73.6

1990 74.6 74.8 75.0 75.1 75.3 75.4 75.5 75.7 75.8 75.9 76.1 76.2 74.8 75.3 75.7 76.1 75.4

1991 76.3 76.4 76.5 76.6 76.7 76.8 76.9 76.9 77.0 77.1 77.2 77.3 76.4 76.7 76.9 77.2 76.8

1992 77.4 77.5 77.7 77.8 78.0 78.1 78.3 78.5 78.6 78.8 79.0 79.1 77.5 78.0 78.5 79.0 78.2

1993 79.3 79.4 79.5 79.7 79.8 79.9 80.0 80.1 80.2 80.3 80.5 80.6 79.4 79.8 80.1 80.5 79.9

1994 80.8 81.0 81.1 81.4 81.6 81.8 82.1 82.3 82.6 82.9 83.1 83.4 81.0 81.6 82.3 83.1 82.0

1995 83.7 84.0 84.3 84.6 84.9 85.2 85.6 85.9 86.2 86.6 86.9 87.3 84.0 84.9 85.9 86.9 85.4

1996 87.7 88.0 88.4 88.8 89.2 89.6 90.1 90.5 90.9 91.3 91.8 92.2 88.1 89.2 90.5 91.8 89.9

1997 92.6 93.1 93.6 94.1 94.6 95.1 95.6 96.2 96.8 97.4 98.0 98.7 93.1 94.6 96.2 98.1 95.5

1998 99.3 100.0 100.7 101.3 102.0 102.6 103.2 103.7 104.3 104.8 105.3 105.8 100.0 102.0 103.7 105.3 102.7

1999 106.3 106.7 107.2 107.6 108.0 108.4 108.8 109.2 109.6 110.0 110.4 110.8 106.7 108.0 109.2 110.4 108.6

2000 111.2 111.6 112.0 112.4 112.7 113.1 113.5 113.8 114.2 114.5 114.9 115.2 111.6 112.7 113.8 114.9 113.3

2001 115.5 115.9 116.2 116.5 116.8 117.1 117.4 117.6 117.9 118.1 118.4 118.6 115.9 116.8 117.6 118.4 117.2

2002 118.8 118.9 119.1 119.2 119.3 119.4 119.4 119.4 119.4 119.4 119.3 119.3 118.9 119.3 119.4 119.3 119.2

2003 119.2 119.2 119.1 119.1 119.0 118.9 118.9 118.9 118.8 118.8 118.8 118.8 119.2 119.0 118.9 118.8 119.0

2004 118.7 118.7 118.7 118.7 118.7 118.7 118.7 118.7 118.7 118.7 118.7 118.8 118.7 118.7 118.7 118.7 118.7

2005 118.9 118.9 119.1 119.2 119.3 119.4 119.6 119.7 119.9 120.0 120.2 120.3 119.0 119.3 119.7 120.2 119.5

2006 120.5 120.6 120.8 121.0 121.2 121.4 121.6 121.8 122.0 122.3 122.6 122.9 120.6 121.2 121.8 122.6 121.5

2007 123.2 123.4 123.7 124.0 124.2 124.5 124.7 124.8 124.9 125.0 125.0 125.0 123.4 124.2 124.8 125.0 124.4

2008 124.9 124.9 124.8 124.7 124.6 124.6 124.6 124.6 124.7 124.7 124.8 124.9 124.9 124.7 124.6 124.8 124.7

2009 125.0 125.0 125.0 125.0 125.0 124.9 124.8 124.6 124.4 124.2 123.9 123.7 125.0 125.0 124.6 123.9 124.6

2010 123.4 123.1 122.8 122.6 122.3 122.1 121.9 121.8 121.6 121.6 121.5 121.5 123.1 122.3 121.8 121.5 122.2

2011 121.5 121.6 121.6 121.7 121.8 121.9 122.0 122.1 122.2 122.3 122.5 122.6 121.6 121.8 122.1 122.5 122.0

2012 122.7 122.8

Utilization (percent)

1982 75.0 76.4 75.6 74.8 74.2 73.9 73.5 72.8 72.5 71.8 71.5 70.9 75.7 74.3 72.9 71.4 73.6

1983 72.2 71.7 72.3 73.2 73.7 74.0 75.1 75.9 77.0 77.6 77.8 78.1 72.1 73.6 76.0 77.8 74.9

1984 79.6 79.9 80.2 80.5 80.8 80.9 81.0 80.9 80.6 80.3 80.4 80.3 79.9 80.7 80.8 80.3 80.4

1985 79.9 80.0 79.9 79.5 79.4 79.3 78.6 78.7 78.9 78.5 78.6 79.3 79.9 79.4 78.7 78.8 79.2

1986 79.6 78.9 78.4 78.4 78.4 78.1 78.5 78.3 78.3 78.6 78.9 79.4 79.0 78.3 78.4 79.0 78.7

1987 79.0 79.9 79.9 80.2 80.6 80.8 81.2 81.6 81.7 82.8 83.1 83.4 79.6 80.5 81.5 83.1 81.2

1988 83.4 83.6 83.8 84.2 84.1 84.3 84.4 84.7 84.3 84.7 84.8 85.1 83.6 84.2 84.5 84.9 84.3

1989 85.2 84.7 84.8 84.7 84.0 83.9 82.9 83.4 83.0 82.8 82.8 83.1 84.9 84.2 83.1 82.9 83.8

1990 82.5 83.0 83.3 83.0 83.0 83.1 82.9 82.9 83.0 82.2 81.1 80.4 82.9 83.0 82.9 81.2 82.5

1991 79.9 79.3 78.8 78.8 79.5 80.2 80.1 80.1 80.7 80.5 80.3 79.9 79.3 79.5 80.3 80.2 79.8

1992 79.3 79.8 80.3 80.7 80.8 80.7 81.2 80.6 80.6 81.0 81.2 81.0 79.8 80.7 80.8 81.1 80.6

1993 81.3 81.4 81.3 81.4 81.0 81.1 81.2 81.1 81.4 81.8 82.0 82.3 81.3 81.2 81.2 82.1 81.4

1994 82.5 82.3 83.0 83.2 83.4 83.7 83.6 83.8 83.8 84.2 84.4 85.0 82.6 83.5 83.7 84.6 83.6

1995 85.0 84.6 84.5 84.1 84.0 84.0 83.4 84.1 84.1 83.6 83.5 83.4 84.7 84.0 83.9 83.5 84.0

1996 82.5 83.5 83.0 83.4 83.6 84.0 83.5 83.6 83.7 83.3 83.6 83.7 83.0 83.6 83.6 83.5 83.4

1997 83.4 83.9 84.2 83.8 83.9 83.8 83.9 84.5 84.7 84.7 84.9 84.7 83.8 83.8 84.3 84.8 84.2

1998 84.5 84.0 83.5 83.3 83.3 82.4 81.5 82.8 82.1 82.4 81.9 81.8 84.0 83.0 82.2 82.0 82.8

1999 81.8 81.8 81.6 81.5 81.8 81.4 81.6 81.7 81.1 81.9 82.0 82.3 81.8 81.6 81.5 82.0 81.7

2000 82.1 82.1 82.2 82.4 82.2 82.0 81.6 81.1 81.2 80.6 80.4 79.9 82.1 82.2 81.3 80.3 81.5

2001 79.1 78.4 77.9 77.5 76.8 76.1 75.6 75.2 74.8 74.2 73.7 73.6 78.5 76.8 75.2 73.8 76.1

2002 73.9 73.8 74.2 74.5 74.8 75.5 75.2 75.3 75.4 75.1 75.5 75.2 74.0 74.9 75.3 75.3 74.9

2003 75.8 76.1 76.0 75.4 75.5 75.5 75.8 75.7 76.2 76.2 76.8 76.8 76.0 75.5 75.9 76.6 76.0

2004 77.0 77.4 77.0 77.3 77.9 77.2 77.8 78.0 78.0 78.7 78.9 79.4 77.1 77.5 77.9 79.0 77.9

2005 79.7 80.2 80.1 80.0 80.1 80.3 80.1 80.1 78.4 79.3 79.9 80.3 80.0 80.1 79.5 79.9 79.9

2006 80.3 80.3 80.4 80.6 80.4 80.5 80.5 80.5 80.2 79.9 79.7 80.3 80.3 80.5 80.4 80.0 80.3

2007 79.8 80.5 80.3 80.8 80.6 80.4 80.4 80.3 80.6 80.1 80.5 80.6 80.2 80.6 80.4 80.4 80.4

2008 80.4 80.3 80.1 79.5 79.1 78.9 78.6 77.2 74.0 74.6 73.6 71.6 80.3 79.2 76.6 73.2 77.3

2009 69.9 69.5 68.3 67.7 67.1 66.8 67.5 68.3 68.9 69.1 69.5 70.0 69.3 67.2 68.2 69.5 68.6

2010 70.8 71.3 71.9 72.4 73.7 73.9 74.5 74.8 75.2 74.9 75.2 76.0 71.4 73.3 74.8 75.4 73.7

2011 76.1 75.9 76.5 76.1 76.3 76.3 77.0 77.1 77.2 77.5 77.5 78.1 76.2 76.3 77.1 77.7 76.8

2012 78.4 78.4

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

20
Table 2

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY: 2007–111

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2007 2008 2009 2010 2011 2007 2008 2009 2010 2011

Total IP 2.5 -9.0 -5.7 6.3 3.9 .0 .0 -.3 .1 .0

MARKET GROUPS

Final products and nonindustrial supplies .9 -8.7 -6.6 4.2 3.8 -.1 .3 -1.2 -1.1 .2

Consumer goods -1.0 -6.5 -3.3 .8 2.7 -.4 1.0 -1.2 -2.5 1.3

Durable 1.8 -18.5 -3.1 3.1 10.1 -.2 .0 -1.4 -2.4 1.3

Automotive products 5.9 -21.9 7.6 1.6 16.5 -.2 .3 -1.6 -4.5 3.7

Home electronics 16.5 -4.4 -16.8 -21.4 2.0 -2.0 2.1 -19.3 -14.6 2.7

Appliances, furniture, carpeting -4.5 -22.4 -15.9 2.3 2.2 -.6 -.3 -.9 -.9 -1.2

Miscellaneous goods -3.4 -13.2 -10.9 9.2 3.1 .2 -.4 1.1 1.6 -2.3

Nondurable -1.8 -2.6 -3.3 .1 .6 -.4 1.4 -1.2 -2.6 1.1

Non-energy -3.1 -4.0 -4.2 -.6 .9 -.5 1.7 -1.3 -2.8 1.2

Foods and tobacco -2.5 -2.6 -1.2 1.3 1.3 -.5 1.4 .0 -3.5 1.7

Clothing -21.9 -16.0 -27.9 10.3 -6.7 1.1 -3.7 -4.1 2.7 -2.1

Chemical products -1.7 -5.9 -7.4 -3.5 1.9 -.1 1.4 -3.8 -2.9 1.6

Paper products -6.2 -5.0 -7.1 -4.3 -3.8 -1.9 4.8 -1.4 -1.2 -2.1

Energy 1.9 2.2 -.5 2.1 -.4 -.2 .3 -.6 -1.7 .8

Business equipment 4.3 -13.5 -9.9 12.7 7.9 .6 -.6 -2.0 .5 -2.6

Transit 5.9 -35.7 11.5 13.2 17.7 .8 -.3 -.4 2.7 -6.5

Information processing 4.6 -5.1 -8.0 6.0 6.2 1.2 -1.3 -9.3 -5.3 -.3

Industrial and other 3.5 -8.7 -17.0 15.8 4.4 .2 -.3 .9 2.5 -2.6

Defense and space equipment 21.6 -1.4 -3.2 5.0 4.0 1.1 -3.4 -4.4 -.4 1.9

Construction supplies -.7 -17.1 -17.0 9.8 4.6 .2 -.1 .3 -.3 .4

Business supplies .7 -8.2 -6.1 2.4 1.2 -.3 .5 -.3 1.0 -.9

Materials 4.5 -9.4 -4.6 9.0 4.0 .1 -.3 .9 1.5 -.2

Non-energy 5.7 -14.5 -6.5 10.9 3.7 .2 -.4 1.3 2.9 -.7

Durable 6.9 -14.4 -11.2 16.4 6.6 .2 -.7 1.6 4.9 .1

Consumer parts .2 -28.4 -11.5 27.2 6.5 1.4 -2.4 3.2 18.2 2.9

Equipment parts 16.2 -8.7 -9.5 17.5 7.7 -.1 -1.4 1.2 5.7 -1.1

Other 2.6 -14.0 -12.5 12.5 5.7 .0 .3 1.5 .6 .2

Nondurable 3.8 -14.8 .8 3.6 -.5 .1 .0 .8 .0 -2.1

Textile -8.3 -17.0 -5.1 5.2 1.0 -.1 -.1 -.5 -4.2 -5.7

Paper -.5 -11.0 -4.7 -.1 -3.0 .0 .0 -.3 -.6 -.6

Chemical 8.3 -21.5 4.9 6.6 -.7 .5 -.5 2.0 1.7 -3.6

Energy 2.5 -.9 -1.7 5.7 4.5 -.1 .0 .2 -.8 .5

INDUSTRY GROUPS

Manufacturing 2.8 -11.8 -6.5 6.5 4.1 .0 .1 -.4 .4 -.1

Manufacturing (NAICS) 31–33 3.3 -12.0 -6.3 7.1 4.4 .1 -.1 -.4 .5 -.1

Durable manufacturing 6.1 -14.0 -9.3 11.7 7.1 .3 -.7 -.2 2.1 -.8

Wood products 321 -4.1 -22.7 -12.8 5.0 2.2 .1 -.2 -1.1 -1.2 -.8

Nonmetallic mineral products 327 -1.2 -20.3 -18.1 10.5 .0 .3 -.8 .2 3.4 -1.1

Primary metal 331 9.0 -17.7 -2.8 11.9 8.9 -.4 2.1 5.6 -.6 -1.7

Fabricated metal products 332 4.9 -11.9 -19.0 14.4 7.6 .0 -.1 .3 .5 -1.1

Machinery 333 3.9 -9.6 -18.6 20.2 7.0 .7 -.6 1.8 4.0 -2.8

Computer and electronic products 334 15.0 -7.2 -3.1 12.2 5.5 .1 -1.5 -4.6 1.4 -.1

Electrical equip., appliances,

and components 335 4.4 -11.0 -18.1 12.5 .4 .2 -.6 -.5 2.9 1.0

Motor vehicles and parts 3361–3 -2.0 -29.8 2.3 15.8 14.4 .7 -1.1 .0 5.6 3.5

Aerospace and miscellaneous

transportation equipment 3364–9 22.2 -15.7 -.1 2.5 10.5 1.0 -1.9 -.9 1.6 -2.5

Furniture and related products 337 -.9 -20.8 -22.3 5.8 2.9 -.9 -.1 -1.0 -.7 -1.0

Miscellaneous 339 -1.2 -1.0 -4.0 4.2 2.0 -.3 .1 1.3 .1 -3.8

Nondurable manufacturing .0 -9.6 -2.9 2.3 1.5 -.1 .5 -.6 -1.2 .4

Food, beverage, and tobacco products 311,2 -1.6 -2.0 -.5 1.0 1.8 -.5 1.4 -.1 -3.4 1.8

Textile and product mills 313,4 -10.3 -16.6 -10.4 5.3 .6 -.1 .1 .1 -1.4 -3.2

Apparel and leather 315,6 -21.9 -21.1 -20.0 9.5 -2.6 1.0 -2.6 -1.0 2.7 -2.2

Paper 322 -.2 -12.6 -1.2 .3 -1.8 -.1 .3 -.9 -1.9 .2

Printing and support 323 .9 -11.5 -12.4 1.0 -6.3 .4 -1.2 1.2 4.0 -3.3

Petroleum and coal products 324 -.6 -3.5 -2.6 2.6 7.2 -.3 .6 -1.7 -1.7 3.4

Chemical 325 3.8 -14.3 -1.5 1.9 .2 .3 .2 -1.0 .0 -1.7

Plastics and rubber products 326 -1.0 -15.2 -8.4 10.6 6.5 -.1 .3 -1.1 .8 3.6

Other manufacturing (non-NAICS) 1133,5111 -6.5 -7.6 -11.5 -6.0 -2.8 -1.8 4.6 -1.4 -1.3 -2.3

Mining 21 .5 -.4 -5.1 8.3 7.0 -.1 .0 .3 -1.7 1.0

Utilities 2211,2 3.1 -.4 -1.1 2.7 -2.2 .0 .0 .2 -.5 -.1

Electric 2211 3.5 -1.4 -1.4 2.6 -2.0 .0 .1 .2 .0 -.3

Natural gas 2212 1.1 4.7 .7 3.5 -3.3 -.2 -.5 -.2 -3.3 .6

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.

21
Table 3

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, SPECIAL AGGREGATES AND SELECTED DETAIL: 2007–111

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2007 2008 2009 2010 2011 2007 2008 2009 2010 2011

Total industry 2.5 -9.0 -5.7 6.3 3.9 .0 .0 -.3 .1 .0

Energy 2.2 .0 -2.5 5.1 3.3 -.1 .0 -.1 -.9 .7

Consumer products 1.9 2.2 -.5 2.1 -.4 -.2 .3 -.6 -1.7 .8

Commercial products 2.1 -.6 -1.4 1.9 -.4 -.1 .0 -1.1 .2 .5

Oil and gas well drilling 213111 -1.0 6.9 -42.3 44.9 21.1 .1 .2 .1 .3 .2

Converted fuel 6.1 -5.8 -.4 3.0 -1.2 .1 -.1 .8 -.4 -.6

Primary energy 1.3 .7 -2.2 6.7 6.3 -.1 .0 .0 -.9 .8

Non-energy 2.6 -12.1 -6.8 6.7 4.1 .0 .1 -.3 .4 -.2

Selected high-technology industries 21.4 -7.2 -.3 12.9 1.3 -.2 -1.7 -6.5 2.4 -1.8

Computers and peripheral equipment 3341 24.6 1.9 -16.6 -20.0 -1.9 -.7 3.4 -32.3 -32.1 -4.0

Communications equipment 3342 -10.3 -7.4 -4.4 5.2 -1.3 1.7 -4.3 -4.5 6.6 -4.8

Semiconductors and related

electronic components 334412–9 37.7 -10.9 9.3 27.0 2.7 -1.5 -3.1 5.0 12.6 -.6

Excluding selected high-technology

industries 1.5 -12.4 -7.2 6.4 4.2 .0 .2 .0 .3 -.2

Motor vehicles and parts 3361–3 -2.0 -29.8 2.3 15.8 14.4 .7 -1.1 .0 5.6 3.5

Motor vehicles 3361 -3.0 -31.7 8.9 11.7 21.2 .0 .3 -2.0 -3.8 3.3

Motor vehicle parts 3363 -.3 -26.3 -4.5 21.4 4.7 1.7 -3.2 2.8 18.7 4.6

Excluding motor vehicles and parts 1.8 -11.1 -7.8 5.6 3.4 .0 .3 .0 -.2 -.5

Consumer goods -2.5 -6.4 -5.9 .4 1.6 -.4 1.3 -1.1 -2.4 .8

Business equipment 6.8 -13.6 -9.3 12.5 7.6 .5 -.6 .4 2.1 -3.0

Construction supplies -.8 -17.1 -17.1 9.8 4.6 .2 .0 .4 -.3 .5

Business supplies -.5 -11.0 -8.7 1.7 1.8 -.3 .7 -.2 .8 -1.6

Materials 3.7 -13.3 -7.4 8.5 3.6 .1 .0 1.1 .8 -1.0

Measures excluding selected high-technology

industries

Total industry 1.7 -9.1 -5.9 6.0 3.9 .0 .1 .0 .0 .1

Manufacturing2

1.7 -12.1 -6.9 6.2 4.3 .0 .2 -.1 .3 -.1

Durable 4.3 -14.8 -10.4 11.6 7.6 .3 -.5 .5 2.1 -.7

Measures excluding motor vehicles and parts

Total industry 2.8 -7.9 -6.1 5.8 3.3 .0 .1 -.3 -.3 -.2

Manufacturing2

3.1 -10.5 -7.1 5.9 3.4 .0 .2 -.5 .0 -.5

Durable 7.3 -11.7 -10.8 11.0 5.9 .2 -.6 -.3 1.5 -1.5

Measures excluding selected high-technology

industries and motor vehicles and parts

Total industry 1.9 -8.0 -6.3 5.5 3.4 .0 .2 .0 -.4 -.1

Manufacturing2

2.0 -10.8 -7.5 5.5 3.5 .0 .3 -.2 -.1 -.4

Stage-of-process components

of non-energy materials,

measures of the input to

Finished processors 7.8 -14.1 -8.8 15.1 5.2 .3 -1.3 1.3 6.5 -.1

Primary and semifinished processors 4.2 -14.8 -4.9 8.1 2.7 .1 .2 1.3 .5 -1.1

STAGE-OF-PROCESS GROUPS

Crude 2.4 -5.6 -.4 6.4 4.2 .1 -.3 .9 .1 -.7

Primary and semifinished 3.2 -10.6 -7.5 7.8 2.3 -.1 .0 .8 1.8 .0

Finished 1.6 -8.8 -5.9 4.3 5.7 .0 .2 -2.2 -2.3 .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.

22
Table 4

ANNUAL RATES OF CHANGE FOR INDUSTRIAL PRODUCTION: 2007–111

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2007 2008 2009 2010 2011 2007 2008 2009 2010 2011

Total IP 2.5 -3.5 -11.4 5.4 4.0 -.2 .2 -.3 .1 -.1

MARKET GROUPS

Consumer goods .4 -4.9 -6.9 1.1 2.3 -.4 .3 .4 -3.1 .3

Durable 1.6 -11.2 -16.6 8.2 7.1 -.3 .1 -.7 -2.9 -.4

Nondurable .1 -2.8 -3.9 -.7 1.0 -.4 .4 .7 -3.2 .4

Business equipment 4.5 -2.4 -18.2 8.3 8.2 .2 .1 -1.9 .6 -2.6

Defense and space equipment 18.9 7.0 -4.2 4.1 2.6 .6 -.9 -5.5 -.9 .4

Construction supplies -1.1 -9.3 -23.0 3.9 5.5 .2 .3 -.4 .0 .6

Business supplies .8 -4.1 -10.6 2.1 1.3 -.9 .7 -.6 1.0 -.4

Materials 3.6 -2.7 -11.5 8.4 4.6 -.1 .0 .1 2.1 .0

Non-energy 4.5 -4.8 -17.1 11.0 4.9 -.1 .0 .0 3.6 -.2

Energy 1.9 .6 -2.2 4.1 3.9 .0 .0 .2 -.5 .4

INDUSTRY GROUPS

Manufacturing22.7 -4.8 -13.8 5.7 4.3 -.3 .2 -.4 .4 -.2

Manufacturing (NAICS) 3.1 -4.8 -13.8 6.3 4.8 .0 .0 -.4 .4 -.2

Durable manufacturing 4.8 -3.7 -19.0 10.3 7.7 -.1 -.1 -1.0 2.4 -.6

Nondurable manufacturing 1.2 -5.9 -7.7 2.2 1.7 .0 .0 .4 -1.5 .0

Other manufacturing (non-NAICS) -5.8 -6.4 -13.8 -5.2 -6.4 -4.5 4.3 .0 -1.3 -2.0

Mining .6 1.0 -5.1 5.1 6.0 .1 .2 .0 -.7 .2

Utilities 3.4 -.1 -2.5 3.5 -.3 .0 .0 .1 -.5 .1

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 3.

Table 5

RATES OF CHANGE IN CAPACITY, BY INDUSTRY GROUPS: 2008–121

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2008 2009 2010 2011 2012 2008 2009 2010 2011 2012

Total industry -.1 -.7 -1.9 .8 1.0 -.3 .4 -.1 -.4 .0

Manufacturing2-1.0 -2.8 -2.4 .1 1.0 -.3 .1 -.4 -.7 .0

Manufacturing (NAICS) -.7 -2.8 -2.5 .2 1.1 -.4 .1 -.4 -.7 .0

Durable manufacturing -.7 -1.6 -1.4 1.2 2.1 -.6 .5 .4 -.3 .6

Nondurable manufacturing -.5 -4.1 -3.6 -.7 .0 -.2 -.5 -1.5 -1.0 -.7

Other manufacturing (non-NAICS) -7.1 -2.8 -1.1 -1.7 -1.6 1.2 -.9 -1.1 -1.1 .0

Mining 2.7 5.0 -.2 2.7 .9 .1 1.6 .7 .6 -.2

Utilities 2.2 1.2 4.5 3.2 2.4 -.2 .7 .9 1.2 .0

Selected high-technology industries -7.3 3.0 .3 10.4 7.3 -7.1 -7.0 -3.8 -4.8 -2.2

Manufacturing2ex. selected

high-technology industries -.6 -3.1 -2.6 -.4 .7 .1 .4 -.3 -.6 .1

STAGE-OF-PROCESS GROUPS

Crude 2.1 3.1 -.4 2.0 .9 -.2 2.2 .5 .5 -.2

Primary and semifinished -.2 -1.0 -1.2 .3 .2 -.3 1.3 .9 .1 -.2

Finished -1.1 -3.5 -2.3 .9 2.3 -.3 -1.5 -1.6 -1.0 .4

1. Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the previous year to the fourth quarter of the year specified in the column

heading.

2. See footnote 2 to table 3.

23
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)

1972-

Item 2011 2008 2009 2010 2011 2008 2009 2010 2011

Ave. Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4

Total industry 80.3 73.2 69.5 75.4 77.7 -.3 -.8 -.7 -.4

Manufacturing178.8 69.7 67.0 73.1 76.0 -.4 -.8 -.2 .2

Manufacturing (NAICS) 31–33 78.7 69.4 66.8 73.4 76.5 -.4 -.8 -.2 .2

Durable manufacturing 77.1 67.8 62.5 70.9 75.0 -.2 -.7 .2 .0

Wood products 321 77.6 59.8 55.0 60.6 64.1 1.6 .4 -.2 -.2

Nonmetallic mineral products 327 75.2 52.5 44.9 52.2 54.7 -2.0 -1.6 .5 .7

Primary metal 331 79.2 63.4 61.0 70.1 75.5 -1.1 -.6 1.4 -.4

Fabricated metal products 332 77.3 74.2 62.8 74.4 80.0 .3 .9 1.5 -.8

Machinery 333 78.1 76.0 62.7 75.4 81.0 -1.0 .4 1.2 -.4

Computer and electronic products 334 78.2 72.7 70.3 79.7 77.8 .5 -.9 1.1 1.8

Electrical equip., appliances,

and components 335 82.6 79.5 67.4 78.2 79.9 -.4 -.2 2.1 3.2

Motor vehicles and parts 3361–3 75.0 49.2 52.5 60.6 69.3 .3 -1.5 -.7 2.9

Aerospace and miscellaneous

transportation equipment 3364–9 73.1 72.7 70.3 70.6 76.7 -.4 -1.2 -.6 -3.1

Furniture and related products 337 77.1 66.9 58.2 64.0 67.6 -1.3 -2.2 -2.6 -2.9

Miscellaneous 339 76.1 72.9 71.4 76.9 77.0 .1 .1 .3 -2.2

Nondurable manufacturing 80.9 71.2 72.1 76.5 78.2 -.7 -.8 -.5 .6

Food, beverage, and tobacco products 311,2 81.1 76.4 76.1 77.4 79.1 -.1 .2 -1.5 1.8

Textile and product mills 313,4 80.3 62.5 59.6 65.6 67.8 -1.2 1.5 1.6 -.1

Apparel and leather 315,6 78.0 71.4 60.9 68.8 69.0 -2.5 -2.2 -.3 -.6

Paper 322 86.9 75.1 79.0 82.2 81.5 .1 -.5 -1.0 -.6

Printing and support 323 81.6 67.1 62.1 65.9 63.9 -2.2 -1.8 1.9 1.1

Petroleum and coal products 324 85.7 80.3 77.1 83.5 86.3 -1.5 -2.0 -2.0 -2.1

Chemical 325 77.7 67.0 71.3 76.6 77.6 -1.3 -1.8 .2 -.1

Plastics and rubber products 326 82.2 64.9 62.6 71.8 77.5 .3 -.2 .1 1.7

Other manufacturing (non-NAICS) 1133,5111 82.7 76.2 69.4 65.9 65.3 .0 -.5 -.6 -1.5

Mining 21 87.3 87.5 79.1 85.9 89.5 -.2 -1.1 -3.2 -3.0

Utilities 2211,2 86.3 83.1 81.3 79.8 75.6 .2 -.2 -1.3 -2.2

Selected high-technology industries 78.2 75.1 72.7 81.8 75.1 -1.7 -1.4 2.9 4.6

Computers and peripheral equipment 3341 78.4 72.9 88.2 88.7 81.4 -7.1 -5.1 5.3 4.0

Communications equipment 3342 76.6 85.7 78.7 80.0 76.6 .9 -2.2 4.3 4.2

Semiconductors and related

electronic components 334412–9 80.2 72.6 66.4 81.1 73.6 -.1 .6 2.5 5.5

Measures excluding selected high-technology

industries

Total industry 80.4 73.2 69.4 75.2 77.8 -.3 -.8 -.8 -.6

Manufacturing178.9 69.4 66.7 72.7 76.1 -.4 -.7 -.3 .0

STAGE-OF-PROCESS GROUPS

Crude 86.3 83.1 78.7 85.0 87.3 -.5 -1.7 -2.1 -3.0

Primary and semifinished 81.1 71.7 67.0 73.2 74.6 -.3 -.6 .0 -.1

Finished 77.2 70.7 69.6 73.9 77.1 -.3 -.6 -1.0 .1

1. See footnote 2 to table 3.

24
Table 7

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, 2007–11

NAICS 2007 2008 2009 2010 2011

Item code H1 H2 H1 H2 H1 H2 H1 H2 H1 H2

Total IP 4.3 .8 -3.5 -14.2 -15.6 5.3 8.2 4.4 2.8 4.2

MARKET GROUPS

Final products and nonindustrial supplies 3.0 -1.1 -4.1 -13.2 -15.5 3.2 5.3 3.1 3.0 3.8

Consumer goods 1.4 -3.3 -5.1 -7.9 -10.5 4.5 -.2 1.8 2.4 2.6

Durable 8.4 -4.4 -13.9 -22.8 -25.2 25.5 4.6 1.7 7.0 11.3

Automotive products 22.4 -8.3 -20.8 -22.9 -27.7 60.0 -.1 3.5 9.5 20.2

Home electronics 4.8 29.5 11.3 -17.8 -8.8 -24.0 -23.5 -19.3 1.2 2.4

Appliances, furniture, carpeting -5.2 -3.9 -13.4 -30.5 -25.2 -5.6 8.2 -3.3 3.3 .9

Miscellaneous goods -3.3 -3.5 -7.2 -18.8 -23.8 4.1 15.8 3.0 4.8 1.2

Nondurable -.8 -2.9 -2.1 -3.1 -6.1 -.5 -1.5 1.7 1.0 .2

Non-energy -2.7 -3.5 -3.5 -4.6 -6.8 -1.4 -1.6 .4 1.4 .4

Foods and tobacco -1.1 -4.0 -3.5 -1.7 -1.5 -.8 .0 2.5 1.0 1.3

Clothing -28.1 -15.1 -4.1 -26.5 -41.0 -11.9 16.9 4.2 -4.8 -7.3

Chemical products -2.4 -1.0 -4.7 -7.0 -10.3 -4.3 -4.8 -2.1 6.4 -2.0

Paper products -5.3 -7.2 -1.6 -8.4 -16.2 3.0 -4.0 -4.7 -11.4 3.8

Energy 5.2 -1.3 2.3 2.1 -3.5 2.6 -1.6 6.0 .0 -.6

Business equipment 5.3 3.3 .3 -25.3 -21.1 2.9 16.7 8.8 6.0 8.3

Transit -2.3 14.7 3.2 -60.0 .3 24.0 17.4 9.2 13.4 18.7

Information processing 14.5 -4.4 7.5 -16.2 -11.9 -3.9 6.1 6.0 2.9 8.3

Industrial and other 3.5 3.5 -4.5 -12.6 -30.8 -.5 22.0 9.9 4.3 3.8

Defense and space equipment 21.9 21.4 1.5 -4.2 -7.8 1.5 9.6 .7 2.6 4.8

Construction supplies 2.7 -3.9 -10.7 -23.0 -28.6 -3.5 14.9 4.9 4.0 4.4

Business supplies 2.7 -1.2 -4.5 -11.8 -13.7 2.1 3.9 .9 .7 1.4

Materials 6.0 3.2 -2.9 -15.5 -15.8 8.1 12.1 5.9 2.5 4.7

Non-energy 8.3 3.1 -5.4 -22.8 -21.7 11.7 16.0 6.0 2.7 4.0

Durable 9.1 4.7 -2.9 -24.5 -30.8 13.9 24.5 8.8 7.4 4.9

Consumer parts 8.0 -6.9 -15.9 -39.1 -46.6 46.7 44.4 12.1 -1.4 12.7

Equipment parts 16.2 16.2 4.7 -20.3 -24.5 8.6 23.9 11.4 11.2 3.6

Other 4.4 .8 -4.2 -22.8 -30.8 10.5 19.6 5.9 7.3 3.6

Nondurable 7.1 .5 -9.1 -20.1 -6.7 8.9 5.2 1.9 -3.9 2.6

Textile -2.7 -13.7 -14.2 -19.7 -22.4 16.0 7.4 3.1 1.8 .2

Paper -1.6 .5 -3.8 -17.7 -14.7 6.4 2.7 -2.9 -2.3 -3.2

Chemical 14.6 2.4 -14.3 -28.2 -4.6 15.5 9.5 3.8 -6.2 4.4

Energy 1.7 3.3 1.1 -2.8 -5.6 2.5 5.5 5.9 2.1 6.0

INDUSTRY GROUPS

Manufacturing25.0 .6 -5.2 -17.9 -17.7 6.1 9.2 3.9 3.1 4.4

Manufacturing (NAICS) 31–33 5.6 1.0 -5.2 -18.2 -17.5 6.4 9.9 4.3 3.7 4.4

Durable manufacturing 8.8 3.5 -3.7 -23.1 -25.6 10.5 16.7 6.9 6.2 6.8

Wood products 321 1.6 -9.4 -15.8 -28.9 -27.3 4.6 13.1 -2.4 2.1 2.0

Nonmetallic mineral products 327 2.8 -5.0 -13.0 -26.9 -29.3 -5.0 16.2 5.0 1.4 -1.1

Primary metal 331 10.8 7.2 5.1 -35.6 -37.8 52.1 25.1 .1 6.7 9.5

Fabricated metal products 332 6.1 3.7 -5.0 -18.3 -33.9 -.6 16.5 12.4 9.7 4.7

Machinery 333 5.1 2.6 -4.2 -14.6 -34.3 .8 27.7 13.1 9.0 4.4

Computer and electronic products 334 17.5 12.6 9.5 -21.4 -11.8 6.3 17.4 7.3 7.4 3.0

Selected high-technology industries 21.9 20.9 18.8 -27.5 -12.0 12.9 20.9 5.4 7.2 -3.6

Computers and peripheral equipment 3341 14.2 36.0 27.9 -18.9 -9.7 -23.0 -27.1 -12.2 3.6 -6.0

Communications equipment 3342 10.6 -27.3 10.9 -22.7 -17.9 11.4 12.9 -2.0 -10.2 7.2

Semiconductors and related

electronic components 334412–9 31.7 43.9 18.4 -32.9 -10.6 33.7 43.9 12.2 13.2 -5.8

Electrical equip., appliances,

and components 335 8.3 .7 -2.4 -18.9 -29.9 -4.2 15.5 9.6 -2.2 2.6

Motor vehicles and parts 3361–3 10.8 -13.2 -24.7 -34.6 -44.6 89.1 22.4 9.5 6.9 19.0

Aerospace and miscellaneous

transportation equipment 3364–9 19.9 24.5 2.6 -30.7 3.3 -3.4 4.4 .6 5.6 13.4

Furniture and related products 337 -4.2 2.5 -11.4 -29.2 -32.2 -10.9 9.0 2.8 6.5 -.5

Miscellaneous 339 -3.4 1.0 3.5 -5.4 -13.1 6.0 6.2 2.1 2.0 1.8

Nondurable manufacturing 2.0 -1.9 -7.0 -12.1 -7.8 2.3 3.1 1.5 1.0 1.8

Food, beverage, and tobacco products 311,2 .2 -3.3 -2.9 -1.0 -.2 -.9 -.8 2.8 1.4 1.8

Textile and product mills 313,4 -8.0 -12.7 -11.0 -21.9 -26.7 9.4 9.0 1.8 1.2 .0

Apparel and leather 315,6 -20.9 -22.8 -16.6 -25.4 -31.9 -5.9 11.3 7.8 -.4 -4.0

Paper 322 -1.3 .8 -2.7 -21.5 -8.6 6.8 2.5 -2.0 -2.1 -1.3

Printing and support 323 1.5 .4 -7.7 -15.1 -21.8 -1.8 6.0 -3.7 -5.4 -6.2

Petroleum and coal products 324 2.5 -3.5 -3.3 -3.6 .2 -5.3 2.8 2.4 3.1 9.8

Chemical 325 6.6 1.1 -10.3 -18.1 -8.1 5.6 3.4 .3 -.6 .9

Plastics and rubber products 326 1.3 -3.2 -12.4 -17.9 -22.7 8.6 14.5 6.7 9.6 3.0

Other manufacturing (non-NAICS) 1133,5111 -5.7 -7.2 -4.7 -10.3 -21.8 .2 -5.9 -6.2 -11.4 5.7

Mining 21 -.8 1.8 2.2 -3.0 -12.1 2.4 8.7 8.0 4.8 7.9

Utilities 2211,2 5.3 .8 1.4 -2.1 -5.5 3.5 1.9 3.4 -2.0 -2.1

NOTE: The data are semiannual. Rates of change are calculated as the annualized percent change in the seasonally adjusted index from the second quarter of the previous half-year to

the second quarter of the half-year specified in the column heading.

1. See footnote 2 to table 3.

25
Table 8

CAPACITY UTILIZATION RATES, BY INDUSTRY GROUPS, 2007–11

Percent of capacity, seasonally adjusted

NAICS 2007 2008 2009 2010 2011

Item code Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4

Total industry 80.6 80.4 79.2 73.2 67.2 69.5 73.3 75.4 76.3 77.7

Manufacturing178.9 78.2 76.2 69.7 64.1 67.0 71.0 73.1 74.4 76.0

Manufacturing (NAICS) 31–33 79.0 78.3 76.1 69.4 63.8 66.8 71.1 73.4 74.9 76.5

Durable manufacturing 78.2 78.3 76.8 67.8 59.0 62.5 68.1 70.9 72.8 75.0

Wood products 321 74.9 72.9 68.9 59.8 52.4 55.0 60.1 60.6 62.3 64.1

Nonmetallic mineral products 327 68.8 65.7 61.1 52.5 44.9 44.9 49.7 52.2 53.8 54.7

Primary metal 331 80.1 82.6 82.0 63.4 49.2 61.0 69.4 70.1 72.1 75.5

Fabricated metal products 332 84.8 85.0 81.9 74.2 61.4 62.8 69.3 74.4 78.1 80.0

Machinery 333 82.6 83.7 81.9 76.0 62.0 62.7 70.9 75.4 79.0 81.0

Computer and electronic products 334 76.7 74.4 78.3 72.7 69.2 70.3 76.3 79.7 80.4 77.8

Selected high-technology industries 78.4 75.0 82.2 75.1 71.3 72.7 78.9 81.8 81.8 75.1

Computers and peripheral equipment 3341 75.2 76.3 78.8 72.9 81.2 88.2 88.6 88.7 88.4 81.4

Communications equipment 3342 83.6 72.2 85.9 85.7 78.6 78.7 81.2 80.0 74.9 76.6

Semiconductors and related

electronic components 334412–9 76.6 75.0 82.5 72.6 64.8 66.4 76.3 81.1 82.5 73.6

Electrical equip., appliances,

and components 335 87.3 88.7 88.1 79.5 67.4 67.4 73.8 78.2 78.1 79.9

Motor vehicles and parts 3361–3 73.8 69.9 60.8 49.2 37.4 52.5 58.3 60.6 62.6 69.3

Aerospace and miscellaneous

transportation equipment 3364–9 81.3 89.6 89.1 72.7 72.6 70.3 71.0 70.6 72.0 76.7

Furniture and related products 337 75.4 76.2 74.4 66.9 58.8 58.2 62.4 64.0 66.9 67.6

Miscellaneous 339 73.3 73.2 74.6 72.9 68.4 71.4 75.0 76.9 77.4 77.0

Nondurable manufacturing 79.9 78.3 75.3 71.2 69.6 72.1 74.8 76.5 77.3 78.2

Food, beverage, and tobacco products 311,2 78.9 77.4 76.5 76.4 76.4 76.1 76.0 77.4 78.2 79.1

Textile and product mills 313,4 73.1 70.7 68.7 62.5 55.2 59.6 63.9 65.6 67.0 67.8

Apparel and leather 315,6 74.8 75.3 76.8 71.4 61.4 60.9 65.3 68.8 69.8 69.0

Paper 322 83.8 84.3 83.6 75.1 73.9 79.0 81.9 82.2 81.8 81.5

Printing and support 323 78.0 76.6 72.7 67.1 60.7 62.1 65.7 65.9 65.4 63.9

Petroleum and coal products 324 88.6 85.8 83.3 80.3 78.8 77.1 80.8 83.5 83.6 86.3

Chemical 325 78.4 76.9 72.6 67.0 66.7 71.3 75.0 76.6 77.0 77.6

Plastics and rubber products 326 79.6 77.7 71.7 64.9 58.3 62.6 68.5 71.8 75.9 77.5

Other manufacturing (non-NAICS) 1133,5111 77.6 76.6 77.6 76.2 68.8 69.4 67.7 65.9 62.6 65.3

Mining 21 89.1 90.2 91.3 87.5 79.1 79.1 83.0 85.9 86.6 89.5

Utilities 2211,2 85.5 85.3 84.9 83.1 80.5 81.3 80.5 79.8 77.5 75.6

1. See footnote 2 to table 3.

26
Table 9A

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)

1982 -2.4 2.7 -.8 -.7 -.1 -.2 -.1 -.8 -.3 -1.1 -.6 -.4 -9.3 -1.9 -3.5 -8.1 -5.4

1983 2.4 -.1 1.0 1.1 1.3 .7 1.5 .8 1.8 1.1 .4 .3 9.2 11.8 14.9 12.4 4.8

1984 1.8 1.1 .4 .5 .3 .5 .5 .2 -.2 .4 .3 .4 12.8 6.2 3.8 2.6 9.8

1985 -.4 -.3 .8 -.3 .1 .2 -.6 .6 .1 -.3 .6 .4 .1 .8 -.1 2.2 1.6

1986 1.1 -.6 -.3 .4 .2 -.4 .6 .2 .2 .4 .5 .9 4.5 .0 2.4 5.0 2.2

1987 -.3 1.5 .1 .6 .7 .4 .7 .5 .6 1.6 .6 .6 5.9 7.2 7.2 11.7 5.7

1988 -.2 .2 .3 .8 -.1 .1 .1 .1 .3 .6 .3 .4 2.7 4.4 1.0 4.4 5.3

1989 .8 -.9 -.1 .2 -.8 .2 -1.1 .8 -.2 -.2 .2 .1 2.0 -2.7 -3.1 .3 .8

1990 -.1 1.4 .5 -.3 .2 .3 -.1 .3 .0 -.8 -1.1 -.8 4.3 2.9 1.1 -6.8 .8

1991 -.8 -.6 -.7 .3 .8 1.1 .2 .2 1.1 -.2 -.2 -.1 -8.8 1.9 7.2 1.5 -2.0

1992 -.6 .9 1.0 .6 .6 .3 .9 -.4 .0 .6 .4 -.2 .5 8.3 4.0 2.9 3.6

1993 1.0 .2 -.2 .5 -.1 -.1 .3 -.1 .6 .8 .4 .5 4.4 1.5 1.2 6.9 3.5

1994 .2 .1 1.3 .8 .7 .3 .4 .8 .3 1.0 .8 1.1 5.0 9.5 6.0 9.9 5.9

1995 .3 -.1 .3 -.2 .1 .5 -.6 1.2 .9 -.1 .0 .3 5.3 .6 3.2 4.0 5.2

1996 -.8 1.6 -.2 1.1 .7 1.1 .3 .6 .6 -.1 .8 .9 1.8 9.9 8.0 5.5 4.8

1997 .0 1.4 1.2 -.2 .9 .7 .5 1.6 .9 .6 1.1 .5 9.1 7.6 10.9 10.9 8.4

1998 .8 .1 -.1 .5 .6 -.7 -.5 2.5 -.4 1.0 .2 .5 6.0 2.4 3.3 7.5 6.6

1999 .3 .7 .0 .4 .9 -.3 .5 .7 -.3 1.5 .6 .7 4.7 4.5 3.7 9.0 5.0

2000 .2 .3 .7 .6 -.2 .2 .0 -.6 .5 -.4 -.3 -.6 5.3 4.3 -.8 -2.9 4.2

2001 -.6 -.6 -.3 -.2 -.8 -.7 -.4 -.6 -.2 -.7 -.3 .3 -6.5 -5.5 -6.0 -4.3 -4.1

2002 .5 .0 .7 .1 .7 1.1 -.5 .4 .1 -.4 .5 -.5 3.2 5.9 3.1 -.5 .3

2003 .6 .2 .2 -1.0 .1 .4 .0 -.3 .7 -.1 1.0 -.2 2.5 -2.3 1.4 3.7 1.2

2004 .0 .7 -.3 .4 .7 -.8 .8 .7 -.1 1.1 -.1 .7 2.6 2.9 3.8 5.6 2.7

2005 .8 .8 -.5 .2 .4 .1 -.1 .3 -1.1 1.5 .7 .1 6.5 2.0 -.3 5.6 4.0

2006 .9 -.1 -.1 .6 -.5 .3 -.1 .4 .1 -.4 .0 1.6 4.1 1.1 .7 1.1 2.5

2007 -.5 .6 .6 .8 -.2 .3 .2 -.5 .5 -.5 .4 .3 4.7 5.3 .8 .4 2.7

2008 -.4 -.4 -.4 -1.1 -.6 -.6 -1.1 -1.4 -3.4 -.7 -2.3 -3.3 -2.2 -8.2 -14.0 -21.6 -4.8

2009 -2.9 .0 -2.1 -.8 -1.2 -.3 1.2 1.0 .7 -.1 .9 .1 -23.3 -11.6 6.4 5.8 -13.8

2010 .9 .1 1.1 1.0 1.4 .0 .8 .0 .2 .1 .2 1.0 7.1 11.2 5.2 2.6 5.7

2011 .4 .2 .6 -.6 .2 .0 .8 .3 .4 .6 -.2 1.4 6.0 .2 5.1 5.3 4.3

2012 1.1 .4

IP (2007=100)

1982 43.4 44.6 44.2 43.9 43.9 43.8 43.8 43.4 43.3 42.8 42.5 42.4 44.1 43.9 43.5 42.6 43.5

1983 43.4 43.4 43.8 44.3 44.8 45.2 45.8 46.2 47.0 47.6 47.7 47.9 43.5 44.8 46.3 47.7 45.6

1984 48.7 49.3 49.5 49.8 49.9 50.1 50.4 50.4 50.3 50.5 50.7 50.9 49.2 49.9 50.4 50.7 50.0

1985 50.7 50.5 50.9 50.8 50.8 50.9 50.6 50.9 51.0 50.8 51.1 51.4 50.7 50.8 50.8 51.1 50.9

1986 51.9 51.6 51.5 51.7 51.8 51.6 51.9 52.0 52.1 52.3 52.6 53.0 51.7 51.7 52.0 52.6 52.0

1987 52.8 53.6 53.7 54.0 54.4 54.6 55.0 55.2 55.6 56.5 56.8 57.1 53.4 54.3 55.3 56.8 54.9

1988 57.0 57.2 57.3 57.8 57.8 57.8 57.9 57.9 58.1 58.4 58.5 58.8 57.2 57.8 57.9 58.6 57.9

1989 59.2 58.7 58.6 58.7 58.2 58.4 57.7 58.2 58.0 58.0 58.0 58.1 58.8 58.4 58.0 58.0 58.3

1990 58.0 58.8 59.1 58.9 59.1 59.2 59.1 59.3 59.3 58.8 58.1 57.7 58.6 59.1 59.2 58.2 58.8

1991 57.2 56.9 56.5 56.7 57.1 57.7 57.8 58.0 58.6 58.5 58.3 58.3 56.9 57.1 58.1 58.4 57.6

1992 57.9 58.4 59.0 59.3 59.7 59.9 60.4 60.1 60.1 60.5 60.8 60.6 58.4 59.6 60.2 60.6 59.7

1993 61.3 61.4 61.2 61.6 61.5 61.5 61.6 61.5 61.9 62.4 62.7 63.0 61.3 61.5 61.7 62.7 61.8

1994 63.2 63.2 64.1 64.6 65.0 65.2 65.5 66.0 66.2 66.9 67.4 68.2 63.5 65.0 65.9 67.5 65.5

1995 68.4 68.3 68.5 68.3 68.4 68.7 68.3 69.1 69.7 69.6 69.6 69.9 68.4 68.5 69.0 69.7 68.9

1996 69.3 70.4 70.3 71.1 71.6 72.4 72.6 73.1 73.5 73.5 74.0 74.7 70.0 71.7 73.1 74.1 72.2

1997 74.7 75.7 76.6 76.5 77.2 77.7 78.0 79.3 80.0 80.5 81.4 81.7 75.7 77.1 79.1 81.2 78.3

1998 82.4 82.4 82.3 82.7 83.2 82.6 82.2 84.3 84.0 84.8 85.0 85.4 82.4 82.9 83.5 85.1 83.5

1999 85.6 86.3 86.2 86.6 87.4 87.1 87.5 88.1 87.8 89.1 89.7 90.3 86.1 87.0 87.8 89.7 87.6

2000 90.5 90.7 91.3 91.9 91.7 91.9 91.9 91.3 91.7 91.4 91.0 90.5 90.8 91.8 91.6 91.0 91.3

2001 89.9 89.4 89.1 88.9 88.1 87.5 87.2 86.7 86.5 86.0 85.7 86.0 89.4 88.2 86.8 85.9 87.6

2002 86.4 86.3 87.0 87.1 87.7 88.7 88.3 88.6 88.7 88.3 88.7 88.2 86.6 87.8 88.5 88.4 87.8

2003 88.7 89.0 89.1 88.3 88.3 88.7 88.7 88.4 89.1 89.0 89.9 89.7 88.9 88.4 88.8 89.6 88.9

2004 89.8 90.4 90.2 90.6 91.2 90.5 91.3 91.9 91.8 92.7 92.7 93.3 90.1 90.8 91.6 92.9 91.4

2005 94.0 94.8 94.3 94.5 94.9 95.1 94.9 95.2 94.2 95.6 96.3 96.4 94.4 94.8 94.8 96.1 95.0

2006 97.2 97.1 96.9 97.5 97.1 97.4 97.2 97.6 97.6 97.2 97.3 98.8 97.0 97.3 97.5 97.8 97.4

2007 98.3 98.9 99.5 100.2 100.0 100.3 100.5 100.1 100.6 100.1 100.5 100.8 98.9 100.2 100.4 100.5 100.0

2008 100.4 99.9 99.5 98.4 97.9 97.3 96.2 94.9 91.6 91.0 88.9 86.0 100.0 97.8 94.2 88.7 95.2

2009 83.6 83.5 81.8 81.2 80.2 80.0 80.9 81.8 82.4 82.3 83.1 83.2 83.0 80.5 81.7 82.9 82.0

2010 83.9 84.0 84.9 85.8 87.0 87.0 87.6 87.6 87.8 87.9 88.0 88.9 84.3 86.6 87.7 88.2 86.7

2011 89.2 89.4 90.0 89.5 89.7 89.7 90.4 90.7 91.1 91.6 91.4 92.7 89.6 89.6 90.7 91.9 90.4

2012 93.8 94.1

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

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

27
Table 9B

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

2007 output)

1982 60.8 61.0 61.1 61.2 61.3 61.4 61.5 61.6 61.7 61.7 61.8 61.9 60.9 61.3 61.6 61.8 61.4

1983 61.9 61.9 62.0 62.0 62.0 62.0 62.1 62.1 62.1 62.2 62.2 62.3 61.9 62.0 62.1 62.2 62.1

1984 62.4 62.5 62.6 62.7 62.8 63.0 63.1 63.3 63.4 63.6 63.8 64.0 62.5 62.8 63.3 63.8 63.1

1985 64.2 64.4 64.6 64.8 65.0 65.1 65.3 65.4 65.6 65.7 65.8 65.8 64.4 65.0 65.4 65.8 65.1

1986 65.9 66.0 66.0 66.1 66.1 66.2 66.3 66.3 66.4 66.5 66.6 66.8 66.0 66.1 66.3 66.6 66.3

1987 66.9 67.1 67.3 67.4 67.6 67.8 68.0 68.1 68.3 68.4 68.5 68.6 67.1 67.6 68.1 68.5 67.8

1988 68.7 68.8 68.8 68.8 68.8 68.9 68.9 68.9 69.0 69.0 69.1 69.1 68.7 68.8 68.9 69.1 68.9

1989 69.2 69.3 69.5 69.6 69.7 69.9 70.1 70.2 70.4 70.6 70.7 70.9 69.3 69.7 70.2 70.7 70.0

1990 71.1 71.3 71.4 71.6 71.8 71.9 72.1 72.2 72.4 72.5 72.6 72.8 71.3 71.8 72.2 72.6 72.0

1991 72.9 73.0 73.1 73.2 73.3 73.4 73.5 73.6 73.7 73.8 73.9 73.9 73.0 73.3 73.6 73.9 73.4

1992 74.1 74.2 74.4 74.5 74.7 74.9 75.1 75.3 75.5 75.7 75.8 76.0 74.2 74.7 75.3 75.8 75.0

1993 76.2 76.4 76.5 76.6 76.7 76.9 77.0 77.1 77.2 77.3 77.5 77.6 76.3 76.7 77.1 77.5 76.9

1994 77.8 78.0 78.1 78.4 78.6 78.8 79.1 79.4 79.6 79.9 80.2 80.5 78.0 78.6 79.4 80.2 79.0

1995 80.9 81.2 81.5 81.8 82.2 82.5 82.9 83.2 83.6 84.0 84.4 84.8 81.2 82.2 83.3 84.4 82.8

1996 85.3 85.7 86.2 86.6 87.1 87.5 88.0 88.5 89.0 89.4 89.9 90.4 85.7 87.1 88.5 89.9 87.8

1997 90.9 91.5 92.0 92.5 93.1 93.7 94.3 94.9 95.6 96.3 97.0 97.7 91.5 93.1 95.0 97.0 94.1

1998 98.5 99.2 100.0 100.7 101.4 102.1 102.8 103.4 104.0 104.6 105.2 105.7 99.2 101.4 103.4 105.2 102.3

1999 106.3 106.8 107.3 107.8 108.3 108.7 109.2 109.7 110.1 110.6 111.1 111.6 106.8 108.2 109.7 111.1 108.9

2000 112.0 112.5 113.0 113.4 113.9 114.3 114.8 115.2 115.6 116.1 116.5 116.9 112.5 113.9 115.2 116.5 114.5

2001 117.2 117.6 117.9 118.3 118.6 118.9 119.1 119.3 119.5 119.7 119.9 120.0 117.6 118.6 119.3 119.9 118.8

2002 120.2 120.3 120.3 120.4 120.4 120.5 120.5 120.5 120.5 120.5 120.5 120.5 120.2 120.4 120.5 120.5 120.4

2003 120.4 120.4 120.4 120.4 120.3 120.3 120.3 120.2 120.2 120.1 120.1 120.0 120.4 120.3 120.2 120.1 120.3

2004 120.0 120.0 119.9 119.9 119.9 119.9 119.9 119.9 119.9 120.0 120.1 120.3 120.0 119.9 119.9 120.1 120.0

2005 120.4 120.6 120.8 121.0 121.2 121.4 121.7 121.9 122.1 122.3 122.5 122.7 120.6 121.2 121.9 122.5 121.6

2006 122.9 123.1 123.3 123.5 123.6 123.8 124.0 124.2 124.5 124.7 125.0 125.3 123.1 123.6 124.2 125.0 124.0

2007 125.6 126.0 126.3 126.6 127.0 127.3 127.6 127.9 128.2 128.4 128.5 128.7 126.0 127.0 127.9 128.5 127.3

2008 128.7 128.7 128.7 128.6 128.5 128.3 128.1 128.0 127.7 127.5 127.3 127.0 128.7 128.5 127.9 127.3 128.1

2009 126.8 126.5 126.2 125.9 125.6 125.3 125.0 124.7 124.4 124.1 123.8 123.4 126.5 125.6 124.7 123.8 125.1

2010 123.1 122.8 122.5 122.3 122.0 121.7 121.5 121.3 121.1 120.9 120.8 120.6 122.8 122.0 121.3 120.8 121.7

2011 120.6 120.5 120.5 120.5 120.5 120.5 120.6 120.6 120.7 120.8 120.9 121.0 120.5 120.5 120.6 120.9 120.6

2012 121.1 121.2

Utilization

(percent)

1982 71.4 73.1 72.4 71.8 71.6 71.3 71.1 70.5 70.2 69.3 68.8 68.5 72.3 71.6 70.6 68.9 70.8

1983 70.1 70.0 70.7 71.4 72.3 72.8 73.8 74.4 75.7 76.5 76.7 76.8 70.3 72.2 74.6 76.7 73.4

1984 78.1 78.9 79.1 79.4 79.4 79.6 79.8 79.7 79.4 79.4 79.5 79.5 78.7 79.5 79.6 79.5 79.3

1985 79.0 78.5 78.9 78.4 78.2 78.2 77.5 77.8 77.7 77.4 77.7 78.0 78.8 78.3 77.7 77.7 78.1

1986 78.8 78.2 77.9 78.2 78.3 77.9 78.3 78.4 78.4 78.6 78.9 79.4 78.3 78.1 78.4 78.9 78.4

1987 79.0 79.9 79.8 80.0 80.4 80.5 80.8 81.1 81.4 82.5 82.9 83.3 79.5 80.3 81.1 82.9 81.0

1988 83.0 83.1 83.3 84.0 83.9 84.0 84.0 84.0 84.2 84.6 84.7 85.0 83.2 84.0 84.1 84.8 84.0

1989 85.6 84.6 84.4 84.4 83.5 83.5 82.4 82.8 82.5 82.1 82.0 81.9 84.9 83.8 82.6 82.0 83.3

1990 81.6 82.5 82.7 82.3 82.3 82.3 82.1 82.1 81.9 81.1 80.0 79.3 82.3 82.3 82.0 80.1 81.7

1991 78.5 77.9 77.3 77.4 77.8 78.6 78.7 78.8 79.5 79.3 79.0 78.8 77.9 77.9 79.0 79.0 78.5

1992 78.2 78.7 79.3 79.6 79.9 79.9 80.4 79.9 79.7 80.0 80.1 79.8 78.8 79.8 80.0 79.9 79.6

1993 80.4 80.4 80.1 80.4 80.2 80.0 80.1 79.9 80.2 80.8 81.0 81.2 80.3 80.2 80.1 81.0 80.4

1994 81.2 81.1 82.0 82.4 82.8 82.8 82.8 83.2 83.2 83.7 84.0 84.6 81.5 82.7 83.1 84.1 82.8

1995 84.6 84.1 84.0 83.5 83.2 83.3 82.4 83.0 83.3 82.8 82.5 82.3 84.2 83.3 82.9 82.5 83.2

1996 81.3 82.2 81.6 82.0 82.2 82.7 82.5 82.6 82.7 82.1 82.3 82.6 81.7 82.3 82.6 82.3 82.2

1997 82.1 82.8 83.3 82.6 82.9 82.9 82.8 83.5 83.7 83.6 83.9 83.6 82.8 82.8 83.3 83.7 83.1

1998 83.7 83.1 82.4 82.2 82.1 80.9 80.0 81.6 80.8 81.1 80.8 80.8 83.0 81.7 80.8 80.9 81.6

1999 80.6 80.8 80.4 80.3 80.7 80.1 80.1 80.3 79.7 80.6 80.7 80.9 80.6 80.4 80.1 80.7 80.4

2000 80.8 80.6 80.8 81.0 80.5 80.3 80.0 79.2 79.3 78.7 78.2 77.4 80.7 80.6 79.5 78.1 79.8

2001 76.7 76.0 75.5 75.1 74.3 73.7 73.2 72.7 72.4 71.8 71.5 71.6 76.1 74.4 72.8 71.6 73.7

2002 71.9 71.8 72.3 72.3 72.8 73.6 73.3 73.5 73.6 73.3 73.6 73.2 72.0 72.9 73.5 73.4 72.9

2003 73.7 73.9 74.0 73.3 73.4 73.7 73.8 73.6 74.1 74.1 74.9 74.8 73.9 73.5 73.8 74.6 73.9

2004 74.8 75.4 75.2 75.6 76.1 75.5 76.1 76.6 76.5 77.3 77.1 77.6 75.1 75.7 76.4 77.3 76.2

2005 78.1 78.6 78.1 78.2 78.3 78.3 78.0 78.1 77.1 78.1 78.6 78.5 78.3 78.2 77.7 78.4 78.2

2006 79.1 78.8 78.6 79.0 78.5 78.6 78.4 78.5 78.4 78.0 77.8 78.8 78.8 78.7 78.5 78.2 78.5

2007 78.3 78.5 78.8 79.2 78.8 78.8 78.8 78.2 78.5 78.0 78.2 78.4 78.5 78.9 78.5 78.2 78.5

2008 78.0 77.6 77.4 76.5 76.2 75.8 75.1 74.1 71.7 71.4 69.9 67.7 77.7 76.2 73.6 69.7 74.3

2009 65.9 66.0 64.8 64.5 63.9 63.8 64.8 65.6 66.2 66.4 67.2 67.4 65.6 64.1 65.5 67.0 65.5

2010 68.2 68.4 69.3 70.2 71.3 71.4 72.1 72.3 72.5 72.7 72.9 73.7 68.6 71.0 72.3 73.1 71.2

2011 74.0 74.2 74.7 74.3 74.4 74.4 75.0 75.2 75.5 75.8 75.6 76.6 74.3 74.4 75.2 76.0 75.0

2012 77.4 77.6

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

28
Table 10A

INDUSTRIAL PRODUCTION: Total Industry Excluding Selected High-Technology Industries1

Seasonally adjusted

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

IP (percent

change)

1982 -2.0 1.8 -.8 -.9 -.7 -.4 -.5 -.8 -.5 -.9 -.5 -.9 -8.7 -5.7 -6.2 -8.0 -6.0

1983 1.9 -.7 .7 1.1 .6 .5 1.4 1.2 1.2 .7 .2 .5 3.8 8.1 13.3 9.6 1.8

1984 2.0 .4 .4 .5 .4 .2 .3 .0 -.2 -.2 .3 .1 11.6 5.2 1.9 -.4 7.9

1985 -.3 .5 .1 -.1 .1 .0 -.6 .4 .5 -.4 .3 1.1 1.0 .9 -.4 2.5 1.0

1986 .5 -.8 -.7 .1 .1 -.2 .4 -.3 .1 .4 .4 .8 2.4 -2.5 .6 4.0 .9

1987 -.5 1.2 .2 .5 .6 .4 .5 .6 .2 1.4 .5 .4 4.4 6.5 6.0 9.2 4.3

1988 .0 .4 .2 .4 -.2 .2 .1 .5 -.4 .5 .2 .4 3.2 2.6 1.2 2.6 4.4

1989 .3 -.4 .3 .0 -.7 .0 -1.1 .8 -.3 -.2 .2 .6 2.0 -1.6 -3.5 .8 .6

1990 -.7 .9 .5 -.2 .1 .3 -.1 .2 .2 -.8 -1.3 -.8 2.2 2.5 1.3 -6.8 .3

1991 -.4 -.8 -.6 .2 1.0 1.0 .0 .1 .9 -.2 -.2 -.5 -8.0 2.0 5.3 .3 -2.0

1992 -.8 .7 .8 .6 .3 -.1 .8 -.6 .1 .6 .3 .0 -1.9 6.2 1.8 2.9 1.9

1993 .5 .3 -.1 .3 -.4 .2 .3 -.1 .4 .6 .3 .5 3.1 .3 1.4 5.1 2.5

1994 .4 .0 .9 .3 .4 .6 .0 .4 .0 .6 .4 .9 4.5 5.4 3.2 5.7 4.0

1995 .1 -.2 -.1 -.3 .1 .2 -.5 1.1 .1 -.5 .1 .1 2.9 -1.2 1.5 .2 2.5

1996 -1.0 1.3 -.3 .8 .5 .7 -.5 .4 .3 -.3 .8 .5 -.3 6.5 2.1 3.0 1.7

1997 -.1 .9 .5 -.3 .3 .2 .3 1.0 .7 .6 .6 .1 5.1 2.4 6.3 7.7 4.2

1998 .2 .0 .0 .1 .6 -.9 -.8 2.0 -.7 .6 -.3 .1 1.9 .7 -.3 2.3 3.1

1999 .2 .1 -.1 -.1 .6 -.5 .3 .4 -.4 1.2 .2 .5 .7 .3 1.1 5.5 1.1

2000 -.3 .0 .1 .4 -.2 -.1 -.5 -.4 .4 -.5 -.2 -.5 .6 1.5 -3.0 -2.7 1.0

2001 -.7 -.5 -.3 -.2 -.7 -.5 -.3 -.2 -.4 -.5 -.5 -.1 -5.9 -4.5 -4.3 -4.6 -4.0

2002 .7 -.1 .8 .4 .5 .9 -.4 .1 .0 -.4 .4 -.6 2.8 6.3 1.7 -1.0 .3

2003 .7 .2 -.3 -.9 -.1 -.1 .2 -.1 .6 -.2 .7 -.1 1.8 -4.6 .8 2.5 .2

2004 .2 .6 -.6 .5 .8 -.9 .7 .2 -.1 1.0 .2 .7 2.2 1.9 1.7 5.3 1.7

2005 .4 .6 -.1 .0 .1 .3 -.3 .0 -2.3 1.2 1.0 .6 5.2 1.0 -3.0 2.0 2.5

2006 .1 .0 .2 .4 -.3 .3 .1 .1 -.2 -.1 -.2 1.0 3.6 1.8 .9 .0 1.4

2007 -.5 1.1 -.2 .6 .0 .1 .1 .0 .4 -.8 .3 .0 3.3 3.7 1.0 -1.1 1.8

2008 -.4 -.3 -.5 -.8 -.6 -.3 -.4 -1.7 -4.2 1.1 -1.0 -2.6 -2.2 -6.6 -12.5 -14.7 -4.2

2009 -2.2 -.6 -1.8 -1.0 -1.1 -.5 .9 1.1 .6 .2 .3 .4 -19.1 -12.2 4.7 5.3 -11.3

2010 1.0 .3 .6 .4 1.6 .2 .7 .2 .4 -.4 .2 1.0 7.3 8.2 6.8 2.0 5.0

2011 .0 -.2 .9 -.5 .3 .1 1.0 .2 .3 .6 .0 .9 4.1 1.2 5.7 4.9 4.0

2012 .5 .0

IP (2007=100)

1982 65.2 66.4 65.9 65.3 64.8 64.6 64.3 63.8 63.5 62.9 62.6 62.1 65.8 64.9 63.9 62.5 64.3

1983 63.3 62.8 63.3 64.0 64.4 64.7 65.6 66.4 67.2 67.7 67.9 68.2 63.1 64.4 66.4 67.9 65.5

1984 69.6 69.8 70.1 70.5 70.8 70.9 71.1 71.1 70.9 70.8 71.0 71.1 69.8 70.7 71.0 71.0 70.6

1985 70.9 71.2 71.3 71.3 71.3 71.3 70.9 71.2 71.6 71.3 71.5 72.3 71.1 71.3 71.2 71.7 71.3

1986 72.7 72.1 71.6 71.6 71.7 71.6 71.9 71.7 71.8 72.1 72.4 72.9 72.1 71.7 71.8 72.5 72.0

1987 72.6 73.5 73.6 74.0 74.4 74.8 75.1 75.6 75.7 76.8 77.2 77.5 73.2 74.4 75.5 77.2 75.1

1988 77.5 77.8 78.0 78.3 78.2 78.3 78.4 78.8 78.4 78.8 79.0 79.3 77.8 78.3 78.5 79.0 78.4

1989 79.6 79.2 79.5 79.4 78.9 78.9 78.0 78.7 78.4 78.3 78.5 78.9 79.4 79.1 78.4 78.6 78.9

1990 78.4 79.1 79.5 79.3 79.4 79.7 79.6 79.7 79.9 79.2 78.2 77.6 79.0 79.5 79.7 78.3 79.1

1991 77.3 76.7 76.2 76.4 77.1 77.9 77.9 77.9 78.6 78.4 78.3 77.9 76.7 77.1 78.1 78.2 77.5

1992 77.2 77.8 78.4 78.9 79.1 79.0 79.6 79.2 79.3 79.8 80.0 80.0 77.8 79.0 79.3 79.9 79.0

1993 80.4 80.7 80.6 80.8 80.4 80.6 80.8 80.7 81.1 81.6 81.8 82.2 80.5 80.6 80.9 81.9 81.0

1994 82.5 82.5 83.3 83.5 83.8 84.3 84.3 84.6 84.7 85.2 85.6 86.3 82.8 83.9 84.5 85.7 84.2

1995 86.5 86.3 86.2 85.9 86.0 86.2 85.7 86.7 86.7 86.3 86.4 86.5 86.3 86.1 86.4 86.4 86.3

1996 85.7 86.8 86.5 87.2 87.7 88.2 87.8 88.2 88.5 88.2 88.9 89.3 86.3 87.7 88.1 88.8 87.7

1997 89.2 90.0 90.5 90.2 90.5 90.7 91.0 91.9 92.6 93.1 93.7 93.8 89.9 90.4 91.8 93.6 91.4

1998 94.0 94.0 94.0 94.1 94.6 93.8 93.1 94.9 94.3 94.8 94.5 94.6 94.0 94.2 94.1 94.6 94.2

1999 94.7 94.9 94.8 94.7 95.2 94.8 95.0 95.4 95.0 96.1 96.3 96.8 94.8 94.9 95.1 96.4 95.3

2000 96.5 96.5 96.6 97.0 96.9 96.8 96.3 95.9 96.3 95.8 95.6 95.1 96.5 96.9 96.2 95.5 96.3

2001 94.5 94.0 93.7 93.6 92.9 92.4 92.2 92.0 91.7 91.2 90.8 90.7 94.0 93.0 92.0 90.9 92.5

2002 91.3 91.2 92.0 92.3 92.8 93.6 93.3 93.3 93.4 93.0 93.4 92.8 91.5 92.9 93.3 93.1 92.7

2003 93.5 93.6 93.4 92.5 92.4 92.3 92.5 92.4 92.9 92.7 93.4 93.3 93.5 92.4 92.6 93.2 92.9

2004 93.5 94.1 93.5 93.9 94.6 93.8 94.4 94.6 94.5 95.4 95.6 96.2 93.7 94.1 94.5 95.7 94.5

2005 96.6 97.2 97.1 97.0 97.1 97.5 97.2 97.2 95.0 96.2 97.1 97.7 97.0 97.2 96.5 97.0 96.9

2006 97.8 97.8 97.9 98.3 98.1 98.4 98.5 98.6 98.4 98.3 98.1 99.1 97.8 98.3 98.5 98.5 98.3

2007 98.6 99.7 99.5 100.1 100.1 100.2 100.3 100.3 100.7 99.9 100.2 100.3 99.3 100.2 100.4 100.1 100.0

2008 99.9 99.6 99.2 98.3 97.8 97.5 97.1 95.5 91.4 92.4 91.5 89.1 99.6 97.9 94.7 91.0 95.8

2009 87.1 86.6 85.1 84.3 83.3 83.0 83.7 84.6 85.1 85.3 85.5 85.9 86.3 83.5 84.5 85.6 85.0

2010 86.8 87.0 87.5 87.8 89.2 89.4 90.1 90.2 90.6 90.3 90.5 91.5 87.1 88.8 90.3 90.8 89.3

2011 91.5 91.3 92.2 91.7 92.0 92.1 93.0 93.2 93.5 94.0 94.1 94.9 91.7 91.9 93.2 94.3 92.8

2012 95.4 95.4

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

1. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

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

29
Table 10B

CAPACITY AND UTILIZATION: Total Industry Excluding Selected High-Technology Industries1

Seasonally adjusted

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

Capacity

(percent of

2007 output)

1982 87.2 87.3 87.4 87.5 87.6 87.7 87.7 87.8 87.8 87.8 87.9 87.8 87.3 87.6 87.8 87.8 87.6

1983 87.8 87.8 87.8 87.8 87.7 87.7 87.7 87.6 87.6 87.6 87.6 87.7 87.8 87.7 87.6 87.7 87.7

1984 87.7 87.8 87.8 87.9 88.0 88.1 88.2 88.3 88.5 88.6 88.8 88.9 87.8 88.0 88.3 88.8 88.2

1985 89.1 89.2 89.4 89.6 89.7 89.9 90.0 90.2 90.3 90.4 90.6 90.7 89.2 89.7 90.2 90.6 89.9

1986 90.8 90.8 90.9 91.0 91.0 91.1 91.2 91.2 91.3 91.4 91.5 91.6 90.8 91.0 91.2 91.5 91.2

1987 91.7 91.8 91.9 92.0 92.1 92.2 92.3 92.4 92.5 92.5 92.6 92.6 91.8 92.1 92.4 92.6 92.2

1988 92.7 92.7 92.7 92.7 92.7 92.7 92.7 92.7 92.7 92.8 92.8 92.9 92.7 92.7 92.7 92.8 92.7

1989 93.0 93.1 93.2 93.3 93.5 93.6 93.8 93.9 94.1 94.3 94.4 94.6 93.1 93.5 93.9 94.4 93.7

1990 94.8 94.9 95.1 95.2 95.4 95.5 95.6 95.7 95.9 96.0 96.1 96.2 94.9 95.4 95.7 96.1 95.5

1991 96.3 96.4 96.5 96.7 96.8 96.9 97.0 97.1 97.2 97.3 97.4 97.5 96.4 96.8 97.1 97.4 96.9

1992 97.6 97.7 97.8 97.9 98.0 98.1 98.2 98.2 98.3 98.4 98.5 98.6 97.7 98.0 98.2 98.5 98.1

1993 98.7 98.8 98.9 99.0 99.1 99.2 99.3 99.4 99.5 99.6 99.7 99.9 98.8 99.1 99.4 99.7 99.3

1994 100.0 100.1 100.2 100.3 100.5 100.6 100.8 100.9 101.1 101.3 101.5 101.6 100.1 100.5 100.9 101.5 100.7

1995 101.8 102.0 102.2 102.4 102.6 102.7 102.9 103.1 103.3 103.5 103.7 103.8 102.0 102.6 103.1 103.7 102.8

1996 104.0 104.2 104.3 104.5 104.7 104.9 105.1 105.3 105.5 105.8 106.0 106.3 104.2 104.7 105.3 106.0 105.1

1997 106.6 106.9 107.2 107.5 107.9 108.3 108.6 109.0 109.5 109.9 110.3 110.7 106.9 107.9 109.1 110.3 108.5

1998 111.2 111.6 112.0 112.4 112.8 113.3 113.6 114.0 114.4 114.7 115.1 115.4 111.6 112.8 114.0 115.1 113.4

1999 115.7 116.0 116.3 116.5 116.8 117.0 117.2 117.4 117.6 117.8 118.0 118.2 116.0 116.8 117.4 118.0 117.1

2000 118.3 118.5 118.6 118.8 118.9 119.1 119.2 119.3 119.5 119.6 119.7 119.8 118.5 118.9 119.3 119.7 119.1

2001 120.0 120.1 120.2 120.4 120.5 120.7 120.8 121.0 121.1 121.2 121.4 121.5 120.1 120.5 120.9 121.4 120.7

2002 121.6 121.7 121.8 121.9 121.9 121.9 121.9 121.9 121.9 121.8 121.7 121.7 121.7 121.9 121.9 121.7 121.8

2003 121.6 121.5 121.4 121.3 121.2 121.1 121.1 121.0 121.0 120.9 120.9 120.8 121.5 121.2 121.0 120.9 121.1

2004 120.8 120.8 120.8 120.7 120.7 120.6 120.6 120.6 120.5 120.5 120.5 120.5 120.8 120.7 120.6 120.5 120.6

2005 120.5 120.5 120.5 120.5 120.6 120.6 120.7 120.8 120.9 121.0 121.2 121.3 120.5 120.6 120.8 121.2 120.8

2006 121.5 121.7 121.8 122.0 122.2 122.4 122.6 122.8 123.0 123.2 123.3 123.5 121.7 122.2 122.8 123.3 122.5

2007 123.7 123.8 123.9 124.1 124.1 124.2 124.2 124.2 124.2 124.1 124.1 124.0 123.8 124.1 124.2 124.1 124.1

2008 123.9 123.9 123.8 123.8 123.8 123.8 123.9 124.0 124.1 124.2 124.4 124.5 123.9 123.8 124.0 124.4 124.0

2009 124.6 124.6 124.7 124.7 124.6 124.5 124.3 124.1 123.9 123.6 123.3 123.0 124.6 124.6 124.1 123.3 124.2

2010 122.7 122.4 122.1 121.8 121.5 121.3 121.1 121.0 120.9 120.8 120.8 120.7 122.4 121.6 121.0 120.8 121.4

2011 120.7 120.7 120.8 120.8 120.9 120.9 121.0 121.0 121.1 121.2 121.2 121.3 120.7 120.9 121.0 121.2 121.0

2012 121.4 121.5

Utilization

(percent)

1982 74.8 76.1 75.4 74.6 74.0 73.6 73.3 72.7 72.3 71.6 71.3 70.7 75.4 74.1 72.7 71.2 73.4

1983 72.0 71.5 72.1 72.9 73.4 73.8 74.8 75.8 76.7 77.3 77.5 77.8 71.9 73.4 75.8 77.5 74.6

1984 79.3 79.6 79.8 80.1 80.4 80.5 80.6 80.5 80.2 79.9 80.0 79.9 79.6 80.3 80.4 79.9 80.1

1985 79.6 79.8 79.8 79.6 79.5 79.4 78.8 79.0 79.3 78.8 79.0 79.7 79.7 79.5 79.0 79.2 79.3

1986 80.1 79.4 78.8 78.7 78.8 78.6 78.8 78.5 78.6 78.9 79.1 79.7 79.4 78.7 78.6 79.2 79.0

1987 79.2 80.1 80.1 80.4 80.8 81.1 81.4 81.8 81.9 83.0 83.4 83.7 79.8 80.8 81.7 83.4 81.4

1988 83.7 84.0 84.1 84.5 84.4 84.5 84.6 85.0 84.6 85.0 85.1 85.4 83.9 84.5 84.7 85.1 84.6

1989 85.6 85.1 85.3 85.1 84.4 84.3 83.2 83.8 83.4 83.0 83.1 83.4 85.3 84.6 83.5 83.2 84.2

1990 82.7 83.3 83.6 83.3 83.3 83.4 83.2 83.3 83.3 82.5 81.4 80.7 83.2 83.3 83.3 81.5 82.8

1991 80.2 79.5 78.9 79.0 79.7 80.4 80.3 80.2 80.9 80.6 80.4 79.9 79.6 79.7 80.5 80.3 80.0

1992 79.1 79.6 80.2 80.6 80.7 80.5 81.1 80.6 80.6 81.0 81.2 81.1 79.7 80.6 80.8 81.1 80.5

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

1994 82.6 82.5 83.1 83.2 83.4 83.8 83.6 83.8 83.7 84.1 84.3 84.9 82.7 83.5 83.7 84.5 83.6

1995 84.9 84.6 84.4 84.0 83.9 83.9 83.3 84.0 84.0 83.4 83.4 83.3 84.6 83.9 83.8 83.4 83.9

1996 82.4 83.4 82.9 83.4 83.7 84.1 83.6 83.7 83.8 83.4 83.8 84.0 82.9 83.8 83.7 83.7 83.5

1997 83.7 84.2 84.4 83.9 83.9 83.8 83.8 84.3 84.6 84.7 85.0 84.7 84.1 83.8 84.2 84.8 84.2

1998 84.6 84.2 83.9 83.7 83.9 82.8 81.9 83.3 82.4 82.7 82.1 82.0 84.2 83.5 82.5 82.2 83.1

1999 81.9 81.8 81.5 81.2 81.5 81.0 81.1 81.2 80.7 81.6 81.6 81.9 81.7 81.3 81.0 81.7 81.4

2000 81.6 81.5 81.4 81.7 81.4 81.3 80.8 80.4 80.6 80.1 79.8 79.4 81.5 81.5 80.6 79.8 80.8

2001 78.7 78.2 77.9 77.7 77.1 76.6 76.3 76.1 75.7 75.2 74.8 74.6 78.3 77.1 76.0 74.9 76.6

2002 75.1 75.0 75.5 75.8 76.1 76.8 76.5 76.6 76.6 76.4 76.7 76.3 75.2 76.2 76.6 76.5 76.1

2003 76.9 77.1 76.9 76.3 76.2 76.2 76.4 76.3 76.8 76.7 77.3 77.2 77.0 76.2 76.5 77.1 76.7

2004 77.4 77.9 77.4 77.8 78.4 77.7 78.3 78.5 78.4 79.2 79.3 79.9 77.6 78.0 78.4 79.5 78.3

2005 80.2 80.7 80.6 80.5 80.6 80.8 80.5 80.5 78.6 79.4 80.1 80.5 80.5 80.6 79.9 80.0 80.3

2006 80.5 80.4 80.4 80.6 80.3 80.4 80.3 80.3 80.0 79.8 79.5 80.2 80.4 80.4 80.2 79.8 80.2

2007 79.7 80.5 80.3 80.7 80.7 80.7 80.8 80.7 81.1 80.5 80.8 80.9 80.2 80.7 80.9 80.7 80.6

2008 80.6 80.4 80.1 79.4 79.0 78.8 78.4 77.0 73.7 74.4 73.6 71.6 80.4 79.1 76.3 73.2 77.2

2009 69.9 69.5 68.3 67.6 66.9 66.6 67.3 68.2 68.7 69.0 69.4 69.9 69.2 67.0 68.1 69.4 68.4

2010 70.7 71.1 71.7 72.1 73.4 73.7 74.4 74.6 75.0 74.7 75.0 75.8 71.2 73.1 74.6 75.2 73.5

2011 75.8 75.7 76.3 75.9 76.1 76.2 76.9 77.0 77.2 77.6 77.6 78.2 75.9 76.1 77.0 77.8 76.7

2012 78.6 78.5

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

1. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

30
Table 11A

INDUSTRIAL PRODUCTION: Manufacturing Excluding Selected High-Technology Industries1,2

Seasonally adjusted

Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Q1 Q2 Q3 Q4 Annual3

IP (percent

change)

1982 -2.5 2.5 -.8 -.8 -.2 -.2 -.3 -.7 -.4 -1.2 -.7 -.5 -10.5 -2.9 -4.3 -9.2 -6.5

1983 2.5 -.2 .8 1.0 1.2 .6 1.3 .9 1.5 1.1 .3 .2 8.2 10.6 13.6 11.0 3.7

1984 1.8 1.0 .3 .4 .2 .3 .4 .0 -.3 .3 .3 .4 11.7 4.7 2.4 1.9 8.5

1985 -.5 -.2 .8 -.2 .1 .1 -.5 .6 .2 -.3 .6 .4 -.1 1.6 .5 2.3 1.4

1986 1.2 -.6 -.3 .4 .1 -.2 .2 .1 .2 .4 .4 .8 4.8 -.1 1.2 4.2 2.2

1987 -.5 1.4 .1 .4 .6 .3 .6 .3 .5 1.6 .6 .5 4.6 6.1 5.6 10.6 4.6

1988 -.2 .2 .2 .8 -.2 .1 .0 .0 .2 .5 .3 .4 2.0 3.4 .3 4.2 4.4

1989 .9 -1.0 .0 .1 -.8 .2 -1.3 .8 -.3 -.3 .1 .0 2.3 -3.1 -4.3 -.7 .4

1990 -.3 1.5 .4 -.3 .1 .2 -.2 .2 -.1 -.9 -1.2 -.8 3.6 2.3 .6 -7.6 .0

1991 -.8 -.8 -.8 .3 .7 1.1 .3 .2 1.1 -.2 -.3 -.3 -9.6 1.3 7.0 1.0 -2.6

1992 -.9 .9 .9 .4 .5 .1 .8 -.5 -.1 .5 .3 -.2 -1.2 7.1 2.7 1.4 2.6

1993 1.1 .1 -.3 .5 -.1 -.2 .2 -.2 .5 .7 .3 .5 4.0 .7 .3 5.7 2.5

1994 .1 .1 1.2 .5 .5 .2 .2 .6 .1 .8 .5 .9 4.2 7.1 3.7 7.0 4.4

1995 .1 -.3 -.1 -.4 -.1 .3 -.8 .9 .5 -.4 -.1 .0 2.8 -2.3 .4 .5 2.5

1996 -1.1 1.3 -.5 1.0 .5 .8 -.1 .3 .4 -.4 .7 .7 -1.8 7.3 4.0 2.7 1.5

1997 -.2 1.0 .9 -.7 .5 .4 .2 1.3 .6 .5 .8 .2 6.2 2.9 6.9 8.2 4.9

1998 .5 -.1 -.3 .2 .5 -1.1 -.9 2.4 -.8 .7 -.1 .2 3.2 -.2 -.5 4.0 3.4

1999 -.1 .4 -.4 -.1 .7 -.7 .0 .6 -.4 1.3 .3 .4 .8 .3 .2 6.7 1.4

2000 -.3 -.2 .3 .4 -.6 .0 -.4 -.8 .4 -.5 -.6 -.8 .4 .6 -3.8 -4.8 .7

2001 -.6 -.5 -.3 -.1 -.7 -.5 -.1 -.6 -.2 -.7 -.2 .2 -7.0 -4.5 -4.6 -4.3 -4.8

2002 .6 -.2 .8 .1 .7 1.1 -.5 .3 .0 -.5 .4 -.7 3.4 5.6 2.4 -1.3 .4

2003 .5 .0 .1 -1.1 -.1 .3 -.1 -.4 .7 -.2 .9 -.3 .8 -3.9 .1 2.7 .0

2004 -.1 .8 -.3 .5 .8 -.9 .8 .6 -.3 1.1 -.1 .6 1.9 3.1 3.2 5.0 2.0

2005 .7 .7 -.5 .1 .3 .1 -.3 .1 -1.4 1.4 .7 .0 5.7 1.1 -2.1 4.2 3.1

2006 .9 -.2 -.2 .6 -.6 .2 -.2 .3 .0 -.5 -.1 1.6 3.6 .0 -.1 .4 1.5

2007 -.5 .5 .4 .6 -.2 .4 .2 -.6 .4 -.7 .2 .2 3.8 4.2 .9 -1.8 1.8

2008 -.5 -.6 -.6 -1.2 -.6 -.6 -1.1 -1.4 -3.5 -.4 -2.0 -3.1 -3.7 -9.4 -14.1 -20.4 -5.8

2009 -2.9 .0 -2.2 -.9 -1.3 -.4 1.2 1.1 .7 -.1 .9 .1 -22.9 -12.8 6.0 5.4 -13.8

2010 .9 .0 1.0 1.0 1.4 .0 .8 .0 .2 .1 .1 .8 6.3 10.8 5.4 2.3 5.3

2011 .4 .3 .7 -.7 .2 .0 .9 .2 .5 .7 -.2 1.5 5.7 .1 5.2 6.1 4.2

2012 1.2 .4

IP (2007=100)

1982 61.3 62.8 62.3 61.8 61.7 61.5 61.4 60.9 60.7 59.9 59.5 59.2 62.1 61.7 61.0 59.5 61.1

1983 60.6 60.5 61.0 61.6 62.4 62.8 63.6 64.2 65.1 65.8 66.0 66.1 60.7 62.3 64.3 66.0 63.3

1984 67.3 68.0 68.2 68.5 68.6 68.8 69.1 69.1 68.9 69.1 69.3 69.6 67.8 68.6 69.0 69.3 68.7

1985 69.2 69.1 69.6 69.5 69.6 69.7 69.3 69.8 69.9 69.7 70.1 70.4 69.3 69.6 69.7 70.1 69.7

1986 71.3 70.8 70.6 70.9 70.9 70.8 71.0 71.1 71.2 71.4 71.7 72.3 70.9 70.9 71.1 71.8 71.2

1987 71.9 72.9 73.0 73.3 73.8 74.0 74.4 74.7 75.0 76.2 76.6 77.0 72.6 73.7 74.7 76.6 74.4

1988 76.8 77.0 77.2 77.8 77.6 77.6 77.6 77.7 77.9 78.3 78.5 78.8 77.0 77.7 77.7 78.5 77.7

1989 79.5 78.7 78.7 78.8 78.1 78.2 77.2 77.8 77.6 77.3 77.4 77.4 79.0 78.4 77.5 77.4 78.0

1990 77.2 78.3 78.6 78.4 78.5 78.6 78.5 78.7 78.6 77.9 77.0 76.3 78.1 78.5 78.6 77.1 78.1

1991 75.7 75.2 74.6 74.8 75.3 76.1 76.3 76.5 77.3 77.1 76.9 76.7 75.2 75.4 76.7 76.9 76.0

1992 76.0 76.7 77.4 77.7 78.1 78.2 78.8 78.4 78.3 78.7 78.9 78.7 76.7 78.0 78.5 78.8 78.0

1993 79.6 79.7 79.4 79.8 79.7 79.6 79.7 79.6 80.0 80.6 80.8 81.2 79.6 79.7 79.8 80.9 80.0

1994 81.3 81.4 82.4 82.8 83.2 83.3 83.5 84.0 84.1 84.7 85.2 86.0 81.7 83.1 83.9 85.3 83.5

1995 86.1 85.8 85.8 85.4 85.3 85.5 84.8 85.6 86.0 85.7 85.5 85.6 85.9 85.4 85.5 85.6 85.6

1996 84.6 85.7 85.3 86.2 86.6 87.3 87.3 87.5 87.9 87.5 88.2 88.8 85.2 86.7 87.6 88.2 86.9

1997 88.6 89.5 90.3 89.7 90.2 90.5 90.7 91.8 92.4 92.9 93.7 93.8 89.5 90.1 91.6 93.5 91.2

1998 94.3 94.3 94.0 94.2 94.6 93.6 92.8 95.0 94.3 95.0 94.8 95.1 94.2 94.1 94.0 95.0 94.3

1999 95.0 95.4 95.0 95.0 95.7 95.0 95.0 95.6 95.2 96.5 96.8 97.2 95.1 95.2 95.3 96.8 95.6

2000 96.9 96.7 97.1 97.4 96.8 96.9 96.5 95.7 96.1 95.6 95.0 94.2 96.9 97.0 96.1 95.0 96.3

2001 93.7 93.2 92.9 92.8 92.1 91.6 91.5 91.0 90.8 90.2 90.0 90.2 93.3 92.2 91.1 90.1 91.7

2002 90.7 90.6 91.3 91.4 92.0 93.0 92.5 92.8 92.8 92.4 92.7 92.1 90.9 92.1 92.7 92.4 92.0

2003 92.5 92.5 92.6 91.6 91.5 91.8 91.7 91.3 92.0 91.8 92.6 92.4 92.6 91.6 91.6 92.3 92.0

2004 92.3 93.0 92.8 93.2 93.9 93.1 93.9 94.4 94.2 95.2 95.1 95.7 92.7 93.4 94.2 95.3 93.9

2005 96.4 97.0 96.5 96.6 97.0 97.1 96.8 96.9 95.6 96.9 97.6 97.6 96.6 96.9 96.4 97.4 96.8

2006 98.5 98.2 98.0 98.6 98.0 98.2 98.0 98.3 98.3 97.8 97.8 99.3 98.2 98.3 98.2 98.3 98.3

2007 98.8 99.2 99.7 100.2 100.1 100.5 100.7 100.2 100.6 99.8 100.0 100.2 99.2 100.3 100.5 100.0 100.0

2008 99.7 99.1 98.5 97.3 96.7 96.1 95.1 93.7 90.5 90.1 88.2 85.5 99.1 96.7 93.1 87.9 94.2

2009 83.0 83.0 81.2 80.4 79.4 79.1 80.1 80.9 81.5 81.4 82.1 82.2 82.4 79.6 80.8 81.9 81.2

2010 82.9 82.9 83.7 84.5 85.7 85.7 86.4 86.4 86.6 86.6 86.7 87.5 83.2 85.3 86.4 86.9 85.5

2011 87.8 88.0 88.7 88.1 88.2 88.3 89.0 89.2 89.7 90.3 90.1 91.5 88.2 88.2 89.3 90.6 89.1

2012 92.5 92.9

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

2. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

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

31
Table 11B

CAPACITY AND UTILIZATION: Manufacturing Excluding Selected High-Technology Industries1,2

Seasonally adjusted

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

Capacity

(percent of

2007 output)

1982 86.4 86.5 86.6 86.7 86.8 86.8 86.9 86.9 87.0 87.0 87.0 87.0 86.5 86.8 86.9 87.0 86.8

1983 86.9 86.9 86.9 86.8 86.8 86.7 86.7 86.7 86.6 86.6 86.6 86.7 86.9 86.8 86.7 86.6 86.7

1984 86.7 86.7 86.8 86.9 87.0 87.1 87.2 87.3 87.5 87.7 87.8 88.0 86.7 87.0 87.3 87.8 87.2

1985 88.2 88.4 88.6 88.7 88.9 89.1 89.3 89.4 89.5 89.6 89.7 89.8 88.4 88.9 89.4 89.7 89.1

1986 89.9 90.0 90.0 90.1 90.1 90.2 90.2 90.3 90.4 90.5 90.6 90.7 90.0 90.1 90.3 90.6 90.3

1987 90.9 91.0 91.2 91.3 91.5 91.6 91.7 91.8 92.0 92.0 92.1 92.1 91.0 91.5 91.8 92.1 91.6

1988 92.2 92.2 92.2 92.2 92.2 92.2 92.1 92.1 92.2 92.2 92.3 92.3 92.2 92.2 92.2 92.3 92.2

1989 92.4 92.5 92.7 92.8 92.9 93.1 93.3 93.5 93.6 93.8 94.0 94.2 92.5 93.0 93.5 94.0 93.2

1990 94.4 94.5 94.7 94.8 95.0 95.1 95.3 95.4 95.6 95.7 95.8 96.0 94.5 95.0 95.4 95.8 95.2

1991 96.1 96.2 96.4 96.5 96.6 96.7 96.8 97.0 97.1 97.2 97.3 97.4 96.2 96.6 97.0 97.3 96.8

1992 97.5 97.6 97.7 97.8 97.9 98.0 98.1 98.3 98.4 98.5 98.6 98.7 97.6 97.9 98.3 98.6 98.1

1993 98.8 98.9 99.0 99.2 99.3 99.4 99.5 99.6 99.7 99.8 99.9 100.0 98.9 99.3 99.6 99.9 99.4

1994 100.1 100.2 100.4 100.5 100.6 100.8 100.9 101.1 101.2 101.4 101.6 101.8 100.2 100.6 101.1 101.6 100.9

1995 102.0 102.2 102.4 102.6 102.8 103.0 103.2 103.4 103.6 103.8 104.1 104.3 102.2 102.8 103.4 104.1 103.1

1996 104.5 104.7 104.9 105.1 105.3 105.5 105.8 106.0 106.3 106.6 106.9 107.2 104.7 105.3 106.0 106.9 105.7

1997 107.5 107.8 108.2 108.6 109.0 109.4 109.9 110.3 110.8 111.3 111.8 112.3 107.9 109.0 110.3 111.8 109.7

1998 112.7 113.2 113.7 114.2 114.7 115.1 115.6 116.0 116.4 116.8 117.2 117.6 113.2 114.7 116.0 117.2 115.3

1999 117.9 118.3 118.6 118.9 119.2 119.5 119.7 120.0 120.2 120.5 120.7 120.9 118.3 119.2 120.0 120.7 119.5

2000 121.2 121.4 121.6 121.7 121.9 122.1 122.3 122.4 122.6 122.8 122.9 123.0 121.4 121.9 122.4 122.9 122.2

2001 123.2 123.3 123.4 123.5 123.6 123.7 123.8 123.9 123.9 124.0 124.0 124.0 123.3 123.6 123.8 124.0 123.7

2002 124.0 124.1 124.1 124.1 124.0 124.0 124.0 123.9 123.9 123.9 123.8 123.7 124.1 124.0 123.9 123.8 124.0

2003 123.7 123.6 123.5 123.5 123.4 123.3 123.2 123.2 123.1 123.0 123.0 122.9 123.6 123.4 123.2 123.0 123.3

2004 122.8 122.8 122.7 122.7 122.6 122.6 122.5 122.5 122.5 122.5 122.5 122.6 122.8 122.6 122.5 122.6 122.6

2005 122.6 122.7 122.8 122.9 123.0 123.2 123.3 123.5 123.7 123.9 124.0 124.2 122.7 123.0 123.5 124.0 123.3

2006 124.4 124.6 124.8 125.0 125.2 125.4 125.5 125.7 125.9 126.0 126.2 126.3 124.6 125.2 125.7 126.2 125.4

2007 126.5 126.6 126.8 126.9 127.0 127.1 127.2 127.3 127.4 127.5 127.5 127.6 126.6 127.0 127.3 127.5 127.1

2008 127.6 127.6 127.6 127.6 127.6 127.5 127.4 127.3 127.2 127.0 126.8 126.6 127.6 127.6 127.3 126.8 127.3

2009 126.3 126.0 125.7 125.4 125.0 124.7 124.3 123.9 123.6 123.2 122.8 122.5 126.0 125.0 123.9 122.8 124.4

2010 122.1 121.8 121.5 121.2 120.9 120.6 120.4 120.2 120.0 119.8 119.6 119.5 121.8 120.9 120.2 119.7 120.6

2011 119.4 119.3 119.2 119.2 119.1 119.1 119.1 119.1 119.1 119.1 119.2 119.2 119.3 119.1 119.1 119.2 119.2

2012 119.3 119.3

Utilization

(percent)

1982 70.9 72.6 71.9 71.3 71.1 70.9 70.6 70.1 69.8 68.9 68.4 68.1 71.8 71.1 70.2 68.5 70.4

1983 69.8 69.6 70.3 71.0 71.9 72.4 73.3 74.0 75.2 76.0 76.2 76.3 69.9 71.8 74.2 76.2 73.0

1984 77.6 78.4 78.6 78.8 78.9 79.0 79.2 79.1 78.7 78.9 78.9 79.0 78.2 78.9 79.0 78.9 78.8

1985 78.5 78.2 78.6 78.3 78.3 78.2 77.7 78.0 78.1 77.7 78.1 78.4 78.4 78.3 77.9 78.1 78.2

1986 79.3 78.7 78.4 78.7 78.7 78.5 78.6 78.7 78.7 78.9 79.2 79.7 78.8 78.6 78.7 79.3 78.8

1987 79.2 80.2 80.1 80.3 80.7 80.8 81.1 81.3 81.6 82.8 83.2 83.6 79.8 80.6 81.4 83.2 81.2

1988 83.4 83.5 83.7 84.4 84.2 84.2 84.2 84.3 84.5 84.9 85.1 85.4 83.5 84.3 84.3 85.1 84.3

1989 86.0 85.1 84.9 84.9 84.0 84.0 82.7 83.2 82.8 82.4 82.3 82.2 85.3 84.3 82.9 82.3 83.7

1990 81.8 82.9 83.1 82.6 82.6 82.6 82.4 82.5 82.3 81.4 80.3 79.5 82.6 82.6 82.4 80.4 82.0

1991 78.8 78.1 77.4 77.5 77.9 78.7 78.8 78.9 79.6 79.4 79.0 78.7 78.1 78.1 79.1 79.0 78.6

1992 77.9 78.5 79.2 79.4 79.7 79.8 80.3 79.8 79.6 79.9 80.0 79.8 78.5 79.6 79.9 79.9 79.5

1993 80.5 80.5 80.2 80.5 80.3 80.1 80.2 79.9 80.2 80.7 80.9 81.2 80.4 80.3 80.1 81.0 80.4

1994 81.2 81.2 82.1 82.4 82.7 82.7 82.8 83.1 83.1 83.6 83.9 84.5 81.5 82.6 83.0 84.0 82.8

1995 84.5 84.0 83.8 83.3 83.0 83.1 82.2 82.8 83.0 82.5 82.2 82.1 84.1 83.1 82.7 82.3 83.0

1996 81.0 81.9 81.3 82.0 82.2 82.7 82.5 82.6 82.7 82.1 82.5 82.8 81.4 82.3 82.6 82.5 82.2

1997 82.4 83.0 83.5 82.6 82.7 82.7 82.5 83.2 83.4 83.5 83.8 83.6 83.0 82.7 83.1 83.6 83.1

1998 83.7 83.2 82.6 82.5 82.5 81.3 80.3 81.9 81.0 81.3 80.9 80.8 83.2 82.1 81.0 81.0 81.8

1999 80.6 80.7 80.1 79.9 80.3 79.5 79.4 79.7 79.2 80.1 80.2 80.3 80.4 79.9 79.4 80.2 80.0

2000 80.0 79.7 79.8 80.0 79.4 79.3 78.9 78.2 78.4 77.9 77.3 76.6 79.9 79.6 78.5 77.3 78.8

2001 76.0 75.6 75.3 75.1 74.5 74.1 74.0 73.5 73.3 72.8 72.6 72.7 75.6 74.6 73.6 72.7 74.1

2002 73.1 73.0 73.6 73.7 74.2 75.0 74.6 74.8 74.9 74.6 74.9 74.4 73.3 74.3 74.8 74.6 74.2

2003 74.8 74.9 75.0 74.2 74.2 74.4 74.4 74.1 74.7 74.6 75.3 75.2 74.9 74.3 74.4 75.0 74.6

2004 75.2 75.8 75.6 76.0 76.6 76.0 76.6 77.1 76.9 77.7 77.6 78.1 75.5 76.2 76.8 77.8 76.6

2005 78.6 79.1 78.6 78.6 78.8 78.8 78.5 78.4 77.3 78.2 78.7 78.6 78.7 78.7 78.1 78.5 78.5

2006 79.1 78.8 78.5 78.9 78.3 78.3 78.1 78.2 78.1 77.6 77.5 78.6 78.8 78.5 78.1 77.9 78.4

2007 78.1 78.4 78.6 79.0 78.8 79.1 79.2 78.7 78.9 78.3 78.4 78.5 78.4 78.9 78.9 78.4 78.7

2008 78.1 77.6 77.2 76.2 75.8 75.4 74.6 73.6 71.2 70.9 69.6 67.6 77.6 75.8 73.1 69.4 74.0

2009 65.7 65.9 64.6 64.1 63.5 63.5 64.4 65.3 65.9 66.1 66.9 67.1 65.4 63.7 65.2 66.7 65.2

2010 67.9 68.0 68.9 69.8 70.9 71.1 71.8 71.9 72.1 72.3 72.5 73.2 68.3 70.6 71.9 72.7 70.9

2011 73.5 73.8 74.4 73.9 74.1 74.1 74.8 74.9 75.3 75.8 75.6 76.7 73.9 74.0 75.0 76.1 74.8

2012 77.6 77.8

NOTE: Estimates from October 2011 through February 2012 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

2. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

32
Table 12

ANNUAL PROPORTIONS IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY

Item 2004 2005 2006 2007 2008 2009 2010 2011

Total IP 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

MARKET GROUPS

Final products and nonindustrial supplies 56.4 55.9 55.9 54.7 55.1 56.5 54.2 53.9

Consumer goods 29.7 29.1 28.4 27.3 27.3 29.6 28.1 27.7

Durable 7.7 7.1 6.9 6.7 6.3 6.2 6.2 6.3

Automotive products 3.7 3.3 3.2 3.3 3.0 3.1 3.4 3.5

Home electronics .4 .4 .4 .3 .3 .3 .2 .2

Appliances, furniture, carpeting 1.3 1.3 1.2 1.1 1.0 .9 .8 .8

Miscellaneous goods 2.2 2.2 2.2 2.0 2.0 1.9 1.9 1.9

Nondurable 22.0 22.0 21.5 20.6 20.9 23.4 21.9 21.4

Non-energy 17.1 16.5 16.1 15.6 16.2 17.9 16.4 16.0

Foods and tobacco 9.2 8.8 8.5 8.2 8.6 9.9 9.3 9.2

Clothing .6 .5 .4 .3 .3 .2 .2 .2

Chemical products 5.0 4.9 5.0 5.0 5.1 5.5 4.8 4.7

Paper products 1.8 1.7 1.7 1.6 1.6 1.7 1.5 1.3

Energy 4.9 5.5 5.4 5.0 4.8 5.5 5.5 5.4

Business equipment 9.4 9.3 9.8 9.7 10.0 9.4 9.4 9.6

Transit 1.8 1.8 2.1 2.1 2.0 1.9 2.1 2.3

Information processing 2.8 2.7 2.8 2.7 2.7 2.6 2.3 2.2

Industrial and other 4.8 4.8 4.9 5.0 5.2 4.9 4.9 5.0

Defense and space equipment 1.5 1.5 1.5 1.8 2.0 2.3 2.2 2.2

Construction supplies 4.8 4.9 5.1 4.9 4.8 4.2 4.1 4.1

Business supplies 10.5 10.4 10.3 10.1 10.2 10.4 9.9 9.6

Materials 43.6 44.1 44.1 45.3 44.9 43.5 45.8 46.1

Non-energy 29.4 28.8 28.5 28.3 28.2 27.1 28.5 28.8

Durable 18.1 17.7 17.6 17.3 17.2 15.4 16.7 17.2

Consumer parts 3.5 3.3 3.1 2.9 2.6 2.0 2.4 2.4

Equipment parts 6.2 6.1 6.0 6.1 6.5 6.0 6.2 6.3

Other 8.3 8.3 8.5 8.4 8.2 7.4 8.1 8.4

Nondurable 11.3 11.2 10.9 11.0 11.0 11.7 11.9 11.6

Textile .7 .7 .6 .5 .4 .4 .5 .5

Paper 2.4 2.3 2.3 2.2 2.3 2.3 2.2 2.0

Chemical 5.0 5.1 4.9 5.2 4.9 5.2 5.7 5.7

Energy 14.3 15.2 15.6 17.0 16.8 16.5 17.2 17.4

INDUSTRY GROUPS

Manufacturing 79.6 78.2 77.6 76.1 75.9 75.8 75.2 75.4

Manufacturing (NAICS) 31–33 75.3 74.2 73.7 72.5 72.3 72.2 72.2 72.6

Durable manufacturing 40.1 39.1 39.3 39.3 39.3 36.6 37.4 38.0

Wood products 321 1.5 1.5 1.4 1.2 1.1 1.0 .9 .9

Nonmetallic mineral products 327 2.2 2.3 2.3 2.2 2.0 1.7 1.6 1.6

Primary metal 331 2.7 2.6 2.7 2.7 2.5 2.1 2.8 2.9

Fabricated metal products 332 5.3 5.3 5.5 5.8 6.0 5.3 5.1 5.4

Machinery 333 4.8 4.8 5.0 5.1 5.3 4.9 5.1 5.4

Computer and electronic products 334 7.6 7.2 7.0 6.9 7.0 6.7 6.5 6.2

Electrical equip., appliances,

and components 335 1.9 1.9 1.9 1.9 2.0 1.8 1.8 1.8

Motor vehicles and parts 3361–3 6.3 5.8 5.5 5.2 4.5 4.0 5.0 5.3

Aerospace and miscellaneous

transportation equipment 3364–9 3.1 3.2 3.4 4.0 4.3 4.6 4.3 4.3

Furniture and related products 337 1.6 1.6 1.5 1.4 1.4 1.1 1.0 1.0

Miscellaneous 339 3.0 3.0 3.1 2.9 3.2 3.4 3.2 3.1

Nondurable manufacturing 35.2 35.1 34.3 33.3 33.0 35.6 34.8 34.7

Food, beverage, and tobacco products 311,2 10.9 10.5 10.1 9.9 10.4 12.2 11.5 11.4

Textile and product mills 313,4 1.2 1.2 1.1 .9 .8 .7 .8 .7

Apparel and leather 315,6 .7 .6 .6 .4 .4 .3 .3 .3

Paper 322 2.7 2.6 2.6 2.5 2.6 2.7 2.6 2.4

Printing and support 323 2.1 2.0 1.9 1.9 1.9 1.8 1.6 1.4

Petroleum and coal products 324 3.2 4.0 3.9 3.3 2.7 3.1 3.4 3.7

Chemical 325 11.1 11.0 10.9 11.3 11.3 11.8 11.7 11.5

Plastics and rubber products 326 3.4 3.2 3.2 3.0 3.0 2.9 3.0 3.1

Other manufacturing (non-NAICS) 1133,5111 4.3 4.0 3.9 3.6 3.6 3.6 3.1 2.7

Mining 21 10.8 12.1 12.8 14.1 13.6 12.5 13.7 14.4

Utilities 2211,2 9.6 9.7 9.6 9.8 10.5 11.6 11.0 10.3

Electric 2211 7.9 7.9 8.0 8.1 8.8 9.9 9.5 9.0

Natural gas 2212 1.7 1.8 1.6 1.7 1.7 1.7 1.5 1.3

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 2011 and 2012 would account for a 0.380 percent increase in total IP.

33
Table 13

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY

Seasonally adjusted

2007=100 Percent change

2011 2012 2011 2012 Feb. ’11 to

Industrial production Sept.r Oct.r Nov.r Dec.r

Jan.rFeb.rSept.r Oct.r Nov.r Dec.rJan.rFeb.rFeb. ’12

Total index 94.4 94.9 94.9 95.7 96.2 96.2 .2 .5 .0 .9 .5 .0 4.2

Previous estimates 94.5 94.9 94.9 95.8 96.2 96.2 .1 .4 .0 .9 .4 .0 4.0

Major market groups

Final Products 93.9 94.5 94.2 94.5 95.3 95.6 .3 .7 -.4 .3 .9 .3 4.3

Consumer goods 92.6 92.9 92.2 92.3 92.8 92.7 .1 .4 -.8 .2 .5 -.1 2.2

Business equipment 94.6 95.9 96.4 97.4 99.3 100.5 .6 1.3 .5 1.0 2.0 1.2 9.1

Nonindustrial supplies 85.5 85.4 84.9 86.0 86.2 86.6 .2 -.1 -.6 1.3 .2 .5 3.7

Construction 77.1 77.3 77.4 79.7 79.6 80.5 .0 .2 .2 3.0 -.1 1.0 8.4

Materials 98.0 98.5 99.1 100.3 100.4 100.1 .2 .5 .6 1.2 .2 -.3 4.4

Major industry groups

Manufacturing (see note below) 91.1 91.6 91.4 92.7 93.8 94.1 .4 .6 -.2 1.4 1.1 .4 5.2

Previous estimates 91.1 91.6 91.4 92.8 93.8 94.0 .4 .5 -.2 1.5 1.1 .3 5.1

Mining 107.8 109.4 110.7 111.7 110.2 108.4 -.1 1.5 1.1 1.0 -1.4 -1.6 6.5

Utilities 101.2 100.0 100.2 96.6 95.0 94.9 -1.1 -1.2 .2 -3.6 -1.7 -.1 -5.6

Capacity

Percent of capacity growth

Average 1988- 1990- 1994- 2008-

1972- 89 91 95 09 2011 2011 2012 Feb. ’11 to

Capacity utilization 2011 high low high low Feb. Sept.r Oct.r Nov.r Dec.r

Jan.rFeb.rFeb. ’12

Total industry 80.3 85.2 78.8 85.0 66.8 75.9 77.2 77.5 77.5 78.1 78.4 78.4 1.0

Previous estimates 80.3 85.2 78.8 85.1 67.3 76.5 77.7 77.9 77.9 78.5 78.8 78.7 1.2

Manufacturing (see note below) 78.8 85.6 77.3 84.6 63.8 74.2 75.5 75.8 75.6 76.6 77.4 77.6 .6

Previous estimates 78.9 85.5 77.3 84.7 64.4 74.4 75.3 75.6 75.4 76.5 77.3 77.4 1.0

Mining 87.3 86.3 83.9 88.6 78.5 84.0 87.5 88.6 89.5 90.3 89.0 87.5 2.3

Utilities 86.3 92.9 84.3 93.3 79.1 78.5 77.6 76.6 76.6 73.7 72.4 72.2 2.6

Stage-of-process groups

Crude 86.3 87.7 84.4 89.7 76.4 83.9 86.0 86.9 87.1 87.9 87.3 86.0 1.7

Primary and semifinished 81.1 86.5 78.0 87.9 64.2 73.6 74.6 74.3 74.5 75.1 75.2 75.5 .4

Finished 77.2 83.4 77.3 80.6 66.8 75.2 76.5 77.2 76.7 77.3 78.3 78.3 1.5

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.

34
Table 14

NETWORKING EQUIPMENT, 1999–2011

Production Index Price Index Value of Production

(2007=100) (2007=100) (millions of dollars)

Annual Estimates

1999 50.5 396.0 22,111.2

2000 61.4 354.9 24,174.1

2001 79.0 272.0 23,839.6

2002 59.8 204.4 13,595.4

2003 69.1 156.6 11,941.9

2004 79.5 122.4 10,809.1

2005 92.6 110.9 11,398.8

2006 149.1 105.1 17,251.4

2007 100.0 100.0 11,326.7

2008 8.0 93.6 828.5

2009 14.8 83.5 1,367.9

2010 11.7 68.8 896.3

2011 17.0 61.9 1,162.1

Quarterly Estimates

1999Q1 43.3 417.9 18,616.8

Q2 54.7 398.8 22,485.0

Q3 59.6 386.9 23,758.0

Q4 60.2 381.0 23,619.7

2000Q1 65.1 373.5 25,039.5

Q2 64.9 352.5 23,556.4

Q3 65.3 348.4 23,442.2

Q4 69.1 345.9 24,629.3

2001Q1 84.6 297.3 25,896.5

Q2 83.4 286.3 24,578.6

Q3 86.3 261.9 23,278.8

Q4 85.7 244.7 21,596.0

2002Q1 68.9 228.9 16,238.6

Q2 63.1 211.0 13,701.1

Q3 62.4 195.8 12,587.2

Q4 62.9 183.9 11,904.2

2003Q1 62.4 171.8 11,041.1

Q2 73.9 167.2 12,727.8

Q3 82.7 154.0 13,113.2

Q4 78.9 134.5 10,933.8

2004Q1 90.3 136.2 12,665.9

Q2 82.9 124.1 10,591.0

Q3 84.9 117.6 10,284.7

Q4 87.2 112.4 10,099.9

2005Q1 83.3 110.8 9,507.4

Q2 91.3 110.0 10,341.6

Q3 108.2 111.4 12,418.3

Q4 122.6 112.0 14,141.0

2006Q1 111.2 110.0 12,596.3

Q2 129.0 105.1 13,962.6

Q3 181.7 102.8 19,234.2

Q4 240.3 102.5 25,364.0

2007Q1 198.3 102.0 20,822.2

Q2 165.7 102.2 17,430.4

Q3 17.2 99.2 1,753.1

Q4 18.9 96.6 1,876.5

2008Q1 9.7 97.6 970.9

Q2 6.9 94.2 671.1

Q3 7.7 92.7 733.4

Q4 10.2 89.5 940.3

2009Q1 9.7 85.2 849.7

Q2 15.5 85.7 1,366.3

Q3 19.9 80.4 1,649.6

Q4 19.2 82.6 1,635.1

2010Q1 14.3 75.3 1,108.4

Q2 11.2 69.4 803.7

Q3 11.8 66.1 800.2

Q4 12.7 64.4 839.3

2011Q1 12.6 63.8 825.6

Q2 16.6 62.8 1,071.0

Q3 20.8 61.5 1,320.9

Q4 23.3 59.5 1,425.8

NOTE: The production index in the table is calculated as the value of production divided by the price index and then indexed to 2007.

The production index does not reflect changes to IP for benchmark purposes and so it is not equivalent to the IP index for data networking equipment.

35
EXPLANATORY NOTE

The Industrial Production and Capacity Utilization statistical

release, which is published around the middle of the month, reports

measures of output, capacity, and capacity utilization in

manufacturing, mining, and the electric and gas utilities industries.

More detailed descriptions of industrial production and capacity

utilization are available at www.federalreserve.gov/releases/G17 at

the Board’s World Wide Web site. In addition, files containing data

shown in the release, more detailed series that were published in the

G.17 prior to December 2000, and historical data are available from

the Data Download Program on the Board’s Web site. 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 2007. Manufacturing

consists of those industries included in the North American Industry

Classification System, or NAICS, definition of manufacturing plus

those industries-logging and newspaper, periodical, book and

directory publishing-that have traditionally been considered to be

manufacturing and included in the industrial sector. For the period

since 1997, the total IP index has been constructed from 312

individual series based on the 2007 North American Industrial

Classification System (NAICS) codes. These individual series are

classified in two ways: (1) market groups, and (2) industry groups.

Market groups consist of products and materials. Total products are

the aggregate of final products, such as consumer goods and

equipment, and nonindustrial supplies (which are inputs to

nonindustrial sectors). Materials are inputs in the manufacture of

products. Major industry groups include three-digit NAICS industries

and aggregates of these industries—for example, durable and

nondurable manufacturing, mining, and utilities. A complete

description of the market and industry structures, including details

regarding series classification, relative importance weights, and data

sources, is available on the Board’s web site

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

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

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

include computers, communications equipment, and semiconductors.

When suitable data on physical product are not available, estimates of

output are based on production-worker hours by industry. Data on

hours worked by production workers are collected in the monthly

establishment survey conducted by the Bureau of Labor Statistics.

The factors used to convert inputs into estimates of production are

based on historical relationships between the inputs and the

comprehensive annual data used to benchmark the IP indexes; these

factors also may be influenced by technological or cyclical

developments. The annual data used in benchmarking the individual

IP indexes are constructed from a variety of source data, such as the

quinquennial Censuses of Manufactures and Mineral Industries and

the Annual Survey of Manufactures, prepared by the Bureau of the

Census; the Minerals Yearbook, prepared by the United States

Geological Survey of the Department of the Interior; and publications

of the Department of Energy.

Aggregation Methodology and Weights. The aggregation method

for the IP index is a version of the Fisher-ideal index formula. (For a

detailed discussion of the aggregation method, see 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 web site provides supplemental

monthly statistics that represent the exact proportionate contribution

of a monthly change in a component index to the monthly change in

the total index (www.federalreserve.gov/

releases/G17/ipdisk/ipweights.sa.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 67 percent of the

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

available source data increases to 81 percent for estimates in the

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

month, 96 percent in the fourth month, 99 percent in the fifth month,

and 99 percent in the sixth month. Data availability by data type in

early 2011 is summarized in the table below:

Availability of Monthly IP Data in Publication Window

(Percent of value added in 2011)

Month of estimate

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

Physical product 27 41 53 55 58 58

Production-worker hours 41 41 41 41 41 41

IP data received 67 81 93 96 99 99

IP data estimated 33 19 7 4 1 1

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 about half of the

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

product data (27 percent out of a total of 58 percent). Of the

27 percent, about two-thirds (19 percent of total IP) include series that

are derived from weekly physical product data and for which actual

monthly data may lag up to several months. On average, quarterly

product data are received for the 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-12 ARIMA. For series based on production-worker hours,

the current seasonal factors were estimated with data through January

2012; for other series, the factors were estimated with data through at

least December 2011. Series are pre-adjusted for the effects of

holidays or the business cycle when appropriate. For the data since

1972, all seasonally adjusted aggregate indexes are calculated by

aggregating the seasonally adjusted indexes of the individual series.

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

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

0.27 percent during the 1987–2010 period. The average revision to

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

the fourth estimates was 0.21 percentage point during the 1987–2010

period. In most cases (about 85 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.

36
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 NAICS level.

Estimates of capacity and utilization are available for a variety of

groups, including durable and nondurable manufacturing, total

manufacturing, mining, utilities, and total industry. Manufacturing

consists of those industries included in the North American Industry

Classification System, or NAICS, definition of manufacturing plus

those industries—logging and newspaper, periodical, book and

directory publishing—that have traditionally been considered to be

manufacturing and included in the industrial sector. Also, special

aggregates are available, such as high-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 (e.g., paper, industrial chemicals, petroleum refining,

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

industries represent about 25 percent of total industrial capacity.

When physical product data are unavailable for manufacturing

industries, capacity indexes are based on responses to the Bureau of

the Census’s Quarterly Survey of Plant Capacity (QSPC); these

industries account for a bit less than 70 percent of total industry

capacity. In the absence of utilization data for a few mining and

petroleum series, capacity is based on trends through peaks in

production (roughly 5 percent of total industry capacity). A detailed

description of the methodology used to construct the capacity indexes

is available on the Board’s web site

(www.federalreserve.gov/releases/G17/CapNotes.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 was a survey of large companies

that 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 1972–2011 period, the average total industry

utilization rate was 80.3 percent; for manufacturing, the average

factory operating rate was 78.9 percent. Industrial plants usually

operate at capacity utilization rates that are well below 100 percent:

none of the broad aggregates has ever reached 100 percent. For total

industry and total manufacturing, utilization rates have exceeded 90

percent only in wartime. The highs and lows in capacity utilization

shown in table 11 are specific to each series and do not all occur in the

same month.

REFERENCES AND RELEASE DATES

References. The annual revision published in June 2010 is described

in an article published in the Federal Reserve Bulletin and is available

on the Board’s website at:

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

Release Schedule

At 9:15 a.m. on

2012: January 18, February 15, March 16, April 17, May 16, June 15,

July 17, August 15, September 14, October 16, November 16, and

December 14.

37