FEDERAL RESERVE statistical release

G.17 (419) 2015 Historical and Annual Revision For release at 10:00 a.m. (EDT)

July 21, 2015

Industrial Production and Capacity Utilization: The 2015 Annual Revision

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

capacity and capacity utilization.1 Total IP is now reported to have increased slightly less than 21/2 percent per

year, on average, from 2011 through 2013 before advancing about 41/2 percent in 2014 and falling back somewhat

in the first half of 2015.2 Relative to earlier reports, the current rates of change are lower—especially for 2012

and 2013. For the most recent recession, total IP still shows a peak-to-trough decline of about 17 percent, and the

dates for the peak and trough are unaltered. However, the lower rates of change for recent years indicate that the

recovery in the industrial sector since the trough has been slower than reported earlier. Total IP is now estimated

to have returned to its pre-recession peak in May 2014, seven months later than previously estimated.

This revision advanced the base year for the IP index and incorporated newly available annual data on

output and prices. The base year for IP was advanced from 2007 to 2012, which raised the level of the index in

all periods. The updated IP indexes incorporated new detailed data for manufacturing from the U.S. Census

Bureau’s 2012 Economic Census and 2013 Annual Survey of Manufactures (ASM) as well as revised data from

the 2011 ASM. For publishing, the IP indexes folded in data for 2013 from the Census Bureau’s Service Annual

Survey. In addition, the indexes were updated with annual data for 2014 from the Department of the Interior’s

U.S. Geological Survey (USGS) for metallic and nonmetallic minerals. Data on prices from the Bureau of Labor

Statistics (BLS) were also incorporated.

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

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

seasonal factors. In addition, new high-frequency indicators were incorporated for a few production indexes.

Capacity utilization rates were revised down for recent years. In the second quarter of 2015, capacity

utilization stood at 77.8 percent, a rate more than 2 percentage points below its long-run (1972–2014) average.

Relative to earlier estimates, utilization for total industry is about 3/4 percentage point lower in the fourth quarters

of 2012 and 2014 and about 11/2 percentage point lower in the fourth quarter of 2013. The lower estimates for

utilization reflected revisions to both industrial production and capacity. Utilization was revised downward as a

result of the weaker industrial production estimates. Lower estimates for capacity, however, tempered the

downward revision to utilization.

The revised estimates of capacity and capacity utilization incorporated data for the manufacturing sector

from the Census Bureau’s Quarterly Survey of Plant Capacity Utilization for the fourth quarter of 2014, along

with new data on capacity primarily for the energy and mining sectors from the USGS, the U.S. Department of

Energy, and other organizations. The revised estimates also include new data on capital spending from the 2012

Economic Census. Capital expenditures data from the 2013 ASM are not yet available.

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.

2Rates 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. For 2015, the rates are calculated from the fourth quarter of 2014 to the second quarter of 2015 and are annualized.

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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 capacity utilization for January

1985 through June 2015, along with the percent changes in total IP. Tables 2 and 3 show the revised rates of

change in IP from 2011 through the first half of 2015 for market groups, industry groups, special aggregates, and

selected detail. Table 4 shows the annual rates of change for total IP and for major market and industry groups

for 2010 through 2014. Table 5 presents the revised rates of change in capacity by industry groups for 2011

through the first half of 2015. 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 fourth quarters of

2011 through 2014; it also shows the differences between the revised and previous estimates. Table 7 reports

revised semiannual rates of change for IP for the second half of 2010 through the first half of 2015. Table 8

contains revised capacity utilization rates for the second and fourth quarters from the fourth quarter of 2012

through the second quarter of 2015. Tables 9A, 9B, 10A, 10B, 11A, and 11B report the revised production,

capacity, and utilization measures for 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 2007 through 2014. Table 13 reports revised IP indexes for

the major market and industry groups for the previous six months; and it also reports revised capacity utilization

rates for the same period. Table 14 shows price indexes for data networking equipment for 2001 through 2013.

Industrial Production

Revisions to the changes in total IP show lower rates of change in recent years than were previously

estimated (figure 1 and tables 2 and 7).3 After having declined sharply during the recession, total IP is still

reported to have rebounded strongly in 2010 and then to have increased moderately in each year from 2011 to

2013; industrial production advanced solidly in 2014 and fell back somewhat in the first half of 2015. However,

the gains in 2012 and 2013 are each 1 percentage point weaker than previously stated, putting the trajectory of

the recovery on a lower path. As currently reported, total IP did not return to its pre-recession peak until May

2014; previously, it was estimated to have reached that level in October 2013.

On net, the revision resulted in lower estimates for manufacturing IP and higher estimates for mining IP

than previously reported; the estimates for utilities are little revised. In particular, manufacturing output is

currently reported to have increased only about 11/2 percent, on average, in 2012 and 2013, whereas it was

previously stated to have averaged gains of more than 3 percent over those two years.4 As currently reported,

manufacturing IP had not yet recovered to its pre-recession peak by June 2015; indeed, it was more than

4 percent below that level. Prior to the revision, manufacturing IP was reported to have returned to its

pre-recession level by November 2014. In contrast, increases in the extraction of crude oil and natural gas have

boosted the index for mining in recent years, and the revised estimates show even stronger rates of change for

2012 through 2014 than reported earlier.

Production by Industry Group

The rates of increase in manufacturing from 2011 through the first half of 2015 are now lower than

reported earlier, particularly for 2012 and 2013, the years for which the majority of benchmark data became

available. Since 2011, the output indexes for both durables and nondurables are now stated to have moved up

more modestly than previously reported, and lower rates of change were widespread across industries.

3

In this section, all of 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.

4Manufacturing 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 production of durables is currently estimated to have risen about 31/2 percent in 2012 and just over

2 percent in 2013; previously, it was stated to have advanced about 6 percent and 5 percent, respectively. For

2014, the index for durable manufacturing is now reported to have moved up about 5 percent, a solid rate by

historical standards but still a lower gain than previously recorded. The output of durables has edged down so far

in 2015.

Within durables, most industry groups posted gains in output for most years since 2011. Nevertheless, by

mid-2015, the indexes for many major categories of durables were still below their pre-recession levels. Relative

to earlier estimates, with the exception of furniture, the gains in each industry group over this period are now

reported to be, on net, lower than those stated earlier. In particular, the contours for fabricated metal products;

machinery; computer and electronic products, electrical equipment, appliances, and components; and

miscellaneous manufacturing show much slower gains than previously reported.

The output of selected high-technology industries moved up 8.0 percent in 2011 and 9.8 percent in 2012

before recording only modest gains the next two years and falling back so far in 2015 (table 3). Relative to

previous estimates, the increase in high-tech output is now smaller in recent years, especially in 2012 but also in

2013 and 2014. The downward revisions largely arose, on net, from weaker production of semiconductors,

which more than outweighed a substantial upward revision to computers and peripheral equipment.

The output of nondurable manufacturing industries declined sharply during the recession and has

increased only modestly, on net, since then. The index moved up less than 1/2 percent per year, on average, in

2011, 2012, and 2013 before increasing about 21/2 percent in 2014 and about 11/2 percent in the first half of 2015.

With this revision, the rates of increase for recent years are now lower than reported earlier. Other than the

indexes for food, for petroleum and coal products, and for plastics and rubber products, the indexes for major

nondurables industries remain well below their pre-recession peaks. Relative to the previously published

estimates, the contour for output in recent years is lower for food, for apparel and leather, and for chemicals, and

it is higher for paper and for petroleum and coal products.

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 in every year from 2010 to 2014 and in

the first half of 2015. The decrease in 2013 is now somewhat less than previously reported as a result of new

benchmark data from the Service Annual Survey.

The production index for mining registered considerable gains in the period from 2011 through 2014

owing to strong increases in oil and natural gas extraction over this period. Although the index fell back in the

first half of 2015, it remained at a high level by historical standards. Rates of change in the output of utilities are

very similar to previous reports.

Production by Market Group

The production index for final products and nonindustrial supplies fell substantially during the most

recent recession, and then it rose between about 11/4 percent and 13/4 percent in each of 2011, 2012, and 2013

before advancing more strongly in 2014; the output of this market group has fallen back somewhat in the first

half of 2015 (table 2). The post-recession recovery for final products and nonindustrial supplies is now reported

to be weaker than earlier estimates suggested. Relative to previous reports, the gains in the index for recent

years—especially for 2012 and 2013—are now stated to have been smaller, and the decline in 2015 so far is less

steep. In June 2015, the index was about 5 percent below its pre-recession peak.

The index for consumer goods now shows a weaker post-recession recovery than was previously

estimated. As currently stated, the output of consumer goods declined in 2012 and moved up in each year since.

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Previously, output was reported to have advanced in 2012, and the rates of increase for overall consumer goods

in 2011, 2013, and 2014 are now reported to be lower than estimated earlier. These lower rates of change were

widespread across categories of durables and nondurables. The level of the index for consumer goods in June

2015 is now reported to be more than 7 percent below its pre-recession peak, whereas previously it was

estimated to be only about 2 percent below its pre-recession peak.

Following a sharp decline during the recession, the index for business equipment rose substantially

through 2012, receded a bit in 2013, and then recorded a sizable gain in 2014 before declining again in the early

part of this year. Relative to earlier reports, output in 2013 was considerably weaker as a result of lower

production across all major components of business equipment: transit, information processing, and industrial

and other equipment. Still, the gains in other recent years were strong enough that, by mid-2015, each of the

major components had either fully or nearly retraced its recession-era decline.

The production of defense and space equipment is now estimated to have been much lower in recent

years than reported earlier. The index was little changed, on net, over the 2011–12 period, but it declined sharply

in 2013 and has recovered only a small amount of that decline since then. Previously, the output of defense and

space equipment was estimated to have moved up in 2011, 2012, and 2013.

The index for construction supplies has advanced solidly in recent years but stepped back a bit at the

beginning of 2015. Production expanded between about 2 and 5 percent in each year from 2011 to 2014.

Notwithstanding these gains, the index in June 2015 had recovered only about half of its recession-period decline

of 33 percent. Compared with the index for construction supplies, the index for business supplies declined less

steeply during the recession and rebounded less sharply during the recovery, and its most recent reading was

about 5 percent below its pre-recession peak.

The output of materials has recovered strongly since the recession; however, as currently estimated, the

recovery is not quite as strong as previously estimated. Still, by mid-2015, it stood about 10 percent above its

pre-recession peak. The production of materials advanced, on average, just under 31/2 percent over the 2010–12

period; output moved up more rapidly in 2014 and has fallen back somewhat in the first half of 2015.

Within materials, the recovery from the recession has been uneven. In every year from 2011 through

2014, all categories of durable goods materials and for energy materials have increased. By contrast, the output

of nondurable materials declined in 2011, was little changed in 2012, 2013, and so far in 2015; it moved up about

1 percent in 2014. Relative to earlier estimates, on net, the indexes for both durable and nondurable materials

have been lower in recent years, while the output of energy materials has been higher.

Capacity

Total industrial capacity contracted in 2010 before increasing in 2011, 2012, 2013, and 2014 (table 5).5

Capacity is expected to increase further in 2015. Relative to previous estimates, the gains in total industrial

capacity are somewhat smaller in recent years, especially in 2014.

After having decreased each year from 2008 to 2010, manufacturing capacity rose modestly in each year

from 2011 through 2014 and is expected to move up again in 2015. The strongest gain in recent years was in

2012 when manufacturing capacity advanced 1.9 percent. Relative to earlier estimates, the gains in recent years,

particularly in 2014, are now weaker. Capacity in durable manufacturing industries advanced modestly in each

year from 2011 to 2014, and it is expected to continue along that path in 2015. The rate of change in durable

manufacturing capacity is now reported to have increased at a somewhat slower rate in recent years; much of that

weakness is attributable to lower estimates for the capacity index for selected high-technology industries. For

5

In this section, all of 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.

4
nondurable manufacturing, capacity contracted in each year from 2008 to 2011 before increasing in 2012 and

flattening out in 2013 and 2014; the gain in 2015 is expected to be modest. Relative to the previous estimates, the

rate of change for nondurables manufacturing capacity is now estimated to have increased somewhat more in

2012 and to have shown less of a gain in 2014. The capacity index for non-NAICS manufacturing has registered

declines or been unchanged in each year since 2007.

Capacity at mines increased sharply in each year from 2011 through 2014; further gains are expected in

2015. Relative to previous estimates, the rate of change in 2011 is now smaller, but the rates in other recent years

are larger. Capacity at utilities increased in each year from 2011 to 2014, with another increase expected in 2015;

the revised gains are little changed from the earlier estimates.

By stage of processing, capacity recorded gains of 4 percent or more in each year from 2011 through

2014; capacity is expected to increase further in 2015. Relative to previous estimates, the increases in capacity at

the crude stage are now reported to be considerably higher in 2012 and 2013 and a little lower in 2011 and 2014.

Capacity at the primary and semifinished stages then increased in 2011 through 2014, with further expansion

expected for 2015. The largest difference between the previous and current increases in capacity at the primary

and semifinished stages is that the gain in 2014 is now estimated to have been smaller. For finished goods

industries, the contour of capacity shows noticeably weaker gains in recent years. Capacity for these producers

declined in 2011 and then recorded moderate gains in 2012, 2013, and 2014, with similar-sized gains expected

for 2015. The rates of change for capacity in the finished goods stage are smaller than previously reported for

recent years.

Capacity Utilization

After having dropped steeply during the recession, capacity utilization rose briskly in 2010, more

moderately in 2011, and then was little changed, on net, through 2013. Capacity utilization moved up in 2014,

but it has fallen back somewhat in the first half of this year.6In the second quarter of 2015, capacity utilization

for total industry was 77.8 percent, a rate 2.3 percentage points below its long-run average of 80.1 percent (table

6 and table 8). Compared with earlier estimates, capacity utilization for total industry is now reported to have

been about 3/4 percentage point lower in 2012 and 2014 and about 11/2 percentage point lower in 2013.

The capacity utilization rate for manufacturing increased only modestly, on net, in the post-recession

period from 2011 to 2013; it moved up more strongly in 2014 before falling back a bit thus far in 2015. Relative

to previous reports, the capacity utilization rates for manufacturing are now lower in recent years because the

downward revisions to the estimates of production were larger than the downward revisions to the estimates of

capacity. At 75.8 percent, the rate for June 2015 was 1.4 percentage points below its previously published level

and 2.7 percentage points below its long-run average.

The utilization rate for durable manufacturing posted gains in each year from 2011 to 2014, when it

reached its long-run average of 76.9 percent, although it has fallen back so far in 2015. Among durable goods

manufacturers in the second quarter of 2015, 6 of the 11 major industry groups in table 6 were operating at

utilization rates above their long-run averages: fabricated metal products; electrical equipment, appliances, and

components; motor vehicles and parts; aerospace and miscellaneous transportation equipment; furniture and

related products; and miscellaneous goods manufacturing. Only the nonmetallic mineral products industry was

operating at a rate far below its long-run average.

The utilization rate for nondurable manufacturing increased less than 1 percentage point, on net, between

2011 and the second quarter of 2015, when it was 77.3 percent, more than 3 percent below its long-run average.

The rates for nondurables in 2012, 2013, and 2014 are at least 21/2 percent lower in each year than was

6Unless otherwise noted, rates of capacity utilization are reported for the fourth quarter of the reference year.

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previously estimated.

As of the second quarter of 2015, among nondurable manufacturing industry groups, that of petroleum

and coal products was operating at a rate just above its long-run average; the operating rates for all other

categories were still below their industry-specific long-run averages (tables 6 and 8), with the rates for apparel

and leather and for printing and support being well below their long-run averages.

For 2011, 2012, and 2013, capacity utilization rates for mining were close to 88.5 percent, a rate that is

1 percentage point above its long-run average. The utilization rate at mines moved up to 90.7 percent in 2014,

but with the recent decline in drilling IP, it fell to 84.7 percent in the second quarter of 2015. Relative to earlier

estimates, capacity utilization in mining is now reported to be a little higher in recent years. The operating rates

for utilities have been below their long-run average of 85.9 percent for the past several years. The current

estimates of utilization at utilities are very similar to the previously reported rates.

TECHNICAL ASPECTS OF THE REVISION

The industrial production statistics are monthly production indexes that represent the level of real output

relative to a base year. At the monthly frequency, movements of the indexes are based on indicators that are

derived using industry-specific data from a variety of government and private sources. The monthly production

indexes, however, are anchored to annual benchmarks that are less timely but typically based on

more-comprehensive data. Annual revisions to the industrial production and capacity measures involve (1)

incorporating into the indexes new monthly or quarterly data that were revised or arrived too late to be included

in the regular six-month reporting window for monthly IP; (2) updating seasonal adjustment factors; (3)

incorporating new annual benchmark data on output, prices, and value-added proportions; and (4) updating the

methods used to construct the indexes.

This revision includes comprehensive annual data for both 2012 and 2013 for manufacturing production.

The results of the Economic Census for 2012 and the Annual Survey of Manufactures for 2013 became available

since the previous annual revision was published in March 2014. In addition, updated results from the ASM for

2011 were incorporated. For most industries, this revision integrated producer price indexes (PPIs) from the

BLS. For a few selected industries, updated price indexes constructed by the Federal Reserve were

incorporated.7In addition, the benchmark indexes for logging, metallic and nonmetallic mining, and publishing

were advanced through 2013 or 2014 based on data from the U.S. Forest Service, the U.S. Geological Survey,

and the U.S. Census Bureau.

The revised IP indexes include information from the Quarterly Survey of Plant Capacity Utilization for

2014 and from other industry reports. The indexes also incorporate revised monthly and quarterly source data on

production, shipments, and inventories.

Conversion to the 2012 North American Industry Classification System

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

system. With this revision, the industrial production and capacity indexes were classified according to the 2012

NAICS; previously, they were classified according to the 2007 NAICS. To maintain consistent time series, the

transformation of the indexes to the 2012 NAICS covers the period from 1972 forward.

For the industrial sector, the primary difference between the 2007 NAICS and the 2012 NAICS involves

several instances where multiple closely-related six-digit 2007 NAICS categories were consolidated into a single

7Price indexes for pharmaceuticals (NAICS 325412), for semiconductors (NAICS 334413), for most components of communications equipment (NAICS 3342), and

for computer storage devices (NAICS 334112) 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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six-digit 2012 NAICS category. For example, under the 2007 system, NAICS 331311 (Alumina Refining) and

NAICS 331312 (Primary Aluminum Production) were separate industries, but under the 2012 system, they have

been merged into NAICS 331313 (Alumina Refining and Primary Aluminum Production). Overall, more than 70

six-digit 2012 NAICS categories have different coverage than they did in the 2007 NAICS.

The implementation of the 2012 NAICS contributed to a reduction in the number of industrial production

and capacity indexes. Prior to this annual revision, 312 individual industrial production indexes and 89

individual capacity indexes covered the industrial sector from 2012 forward. With this revision, 299 individual

production indexes and 88 individual capacity indexes are estimated for the same period.

Annual Benchmark Real Output Indexes

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

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

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

incorporated revised information for 2011 and updated and new information for 2012 and 2013 from the

Economic Census and the ASM.

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

by annual price deflators. For most industries, this revision incorporated the BLS PPIs as the deflators for the IP

benchmarks for recent years. Prior to the current revision, the benchmark IP indexes primarily reflected annual

shipments deflators for six-digit NAICS industries from the Bureau of Economic Analysis (BEA); however,

these deflators are no longer available at that level of detail. In general, the benchmark industry price deflators

consist of information from the BEA through 2011 and are extended through 2013 with the related PPIs.8

Changes to annual benchmark index for computer storage device manufacturing

This revision updates the price index that is used to deflate nominal gross output in the annual benchmark

index for computer storage device manufacturing (NAICS 334112).9 The new industry-level price index is a

chain-weighted Fisher price index that combines information from IDC on prices for large-scale storage devices

(devices with three or more drives) with product price indexes from the BLS for related parts and accessories, for

secondary products, and for miscellaneous receipts. The weights used in the chain aggregation are derived from

each product’s share of overall industry shipments as published in the Economic Census and ASM. Prior to the

current annual revision, the annual benchmark index used the BEA’s industry shipments deflator, which was

based on BLS PPIs for the full range of products in the industry.

The segment of the new price deflator that was based on large-scale storage devices was constructed

using quarterly frequency data from IDC on factory revenue and the number of units shipped for the 2002–14

period. These data cover more than 700 models and, using further detailed information on installation type,

transmission protocol, and redundancy, yielded over 1,500 distinct items. Item prices were constructed by

dividing revenue by terabytes of capacity shipped. The overall price index was constructed using a “matched

model” method that aggregates the item-level relative price changes with weights based on revenue using a

Fisher-ideal index formula.

The new price deflator for computer storage device manufacturing falls considerably faster than the

previously used deflator. From 2002 through 2014, the new price deflator fell, on average, almost 23 percent per

year, whereas the previous deflator fell about 7 percent per year. The more rapid declines in the new price

8Overall, at the industry level, the BEA measures and PPI measures are quite similar, as the BEA used weighted product-level PPIs to derive their industry-level

shipments deflator.

9A detailed explanation of the new price index for computer storage device manufacturing can be found at www.federalreserve.gov/econresdata/notes/fedsnotes/2015/prices-for-data-storage-equipment-and-the-state-of-it-innovation-20150701.html.

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deflator imply much faster real output growth for the industry than was reported earlier.

Changes to annual benchmark index for communications equipment

With this revision, the benchmark price deflators for various components of communications equipment

were updated. For the period from 2007 through 2013, the price index for enterprise and home voice equipment

is constructed from data on units and the value of shipments for a variety of types of enterprise telephones.

Previously, the price index for this period used similar information from the Telecom Industry Association

(TIA); however, data are available at a quarterly frequency (rather than annual) from Dell’Oro, and they include

more-detailed product-level information than the TIA data. For the period from 2001 through 2006, the price

index continues to use product-level data on units and shipments from the Consumer Electronics Association

(CEA) that are even more detailed than the Dell’Oro data. An adjustment is imposed for the 2007–13 period to

account for the difference in the average rate of change between the price index based on the Dell’Oro data and

the price index based on the CEA data for the overlap period from 2002 to 2006. Previously, an analogous

adjustment accounted for differences between the price indexes constructed from the TIA data and from the CEA

data.

The benchmark price deflators were also updated for the period from 2002 forward for different types of

transmission, local loop, and legacy central office equipment. For wave division multiplexing (WDM)

products—equipment used in fiber-optic communications—the price index is now derived from detailed prices

based on measures of a transmission capacity (price per wavelength port); previously, the price index for WDM

products relied on detailed prices of different categories of WDM equipment (for example, long-haul, metro).

The new price index more carefully accounts for the increase in capacity per unit for each equipment category

over time.

An updated benchmark price index was also constructed for other (non-fiber optic) long-haul

transmission equipment. For the period beginning in 2009, this revision folded in quarterly frequency data from

Dell’Oro on price per port for three kinds of microwave transmission equipment: time-division multiplexing

microwave, packet microwave, and hybrid microwave. Prior to this revision, the price index for other (non-fiber

optic) long-haul transmission equipment was constructed as a weighted average of the relevant PPI (two-thirds

weight) and the fiber-optic transmission index (one-third weight) for the period beginning in 2009. The updated

index prior to 2009 continues to use this weighted average.

The benchmark price index for wireless networking equipment was updated with this revision. For each

of the five categories of cellular base stations, the price indexes are now based on average price per transceiver

rather than price per unit. The new price measures better account for the increase in wireless signal transmission

capacity per base station over time. The underlying data continue to be from Dell’Oro and cover 2003 to 2014.

Methodological Changes to Individual Production Indexes

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

Gypsum

With this annual revision, the IP index for gypsum (NAICS 32742) has been updated to incorporate

quarterly data on short tons of calcined gypsum from the Gypsum Association as a preliminary indicator until

the primary indicator becomes available. The primary indicator for the gypsum industry output continues to be

quarterly data from the USGS. Typically, the Gypsum Association data are issued one month earlier than the

USGS data.

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Nuclear materials

With this revision, the IP index for nuclear materials (NAICS 32518, part) incorporates data on uranium

enrichment capacity from URENCO, the nation’s sole supplier of enriched uranium to nuclear power utilities.

The enrichment technology used by URENCO dictates that processes are always operating at full utilization, so

a measure of capacity is also a measure of output. Previously, the production indicator for nuclear materials used

sales of electric power to other uranium enrichment facilities, but all of these other facilities have closed.

Reweighting of within-industry products

For many indexes that are constructed from information on a variety of products, the high-frequency

indicator for industry output is derived from a weighted sum of these products. With this annual revision, the

weights applied to the various products for these indexes were reviewed. In general, the product weights reflect

the long-term relative prices of those products. For industries where the relative prices of the various products

have remained stable over time, it was not necessary to change the formulas. However, weights in the formulas

were updated for the following three industries where the relative prices of various products had evolved

markedly: other nonmetallic mineral mining and quarrying (NAICS 21239), farm machinery (NAICS 333111),

and travel trailer and camper (NAICS 336214).

Changes to Individual Capacity Indexes

Fertilizer

With this revision, the capacity index for fertilizer (NAICS 32531) beginning in 1997 is based on data for

capacity in short tons from The Fertilizer Institute for anhydrous ammonia, ammonium nitrate, ammonium

sulfate, urea and ammonium nitrate solutions, phosphoric acid, and urea. For the period prior to 1997, the

capacity index is still based on utilization rates from the Census Bureau’s Survey of Plant Capacity.

Adjustments to Market Groups

The industrial production indexes are organized in two main ways: industry groups and market groups.

Industry groups reflect a supply-oriented classification where the output is grouped based on the NAICS

industries of the producers. Market groups reflect a demand-oriented classification where output is grouped

according to the purchaser and by how the output is used. An industry’s output is often allocated across a variety

of market groups. Whenever possible, an industry’s market group allocation is determined through detailed

product-level data. For example, the IP index for steel mill products (NAICS 3311 and NAICS 3312) uses data

from the American Iron and Steel Institute that includes information on the end-market (for example,

automotive, construction, or oil patch) classifications for different types of steel. These classifications are used to

allocate the production of steel mill products to different market groups. For industries where market-level detail

is not available, an industry’s market group allocation is determined based on information provided in the BEA’s

Input-Output (I-O) tables, which are issued every five years.

This revision incorporates information from the BEA’s 2007 I-O tables (which were published in late

2013) to update the weights that are used to allocate industry output across various market groups. For years

after 2007, the allocation weights were assumed to be identical to those for 2007. Between 2002 (the year

covered by the previous I-O table) and 2007, the shares are linear combinations of the 2002 and 2007 weights. If

the I-O tables indicate that only a very small share of an industry’s output is consumed by a particular market

group, the allocation weight for that market group will be zero.

With the incorporation of the 2007 I-O tables, the market group allocation for only one industry,

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chocolate and confectionery manufacturing (NAICS 31135), needed to be updated. Previously, the market group

allocation followed the 2002 I-O tables, which indicated that the overwhelming majority of output of chocolate

was supplied to consumers. Consequently, the output of this industry had been assigned entirely to the foods and

tobacco component of nondurable consumer goods. Following the 2007 I-O tables, the revised market group

structure assigns 70 percent of the output of the chocolate industry to the foods and tobacco group and the

remainder to miscellaneous nondurable materials.

Weights for Aggregation

The IP system is organized as a hierarchical structure where the finest-level production indexes are

aggregated using a version of the Fisher-ideal index formula to construct higher-level measures of production.

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

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

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

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

constructed by allocating value-added for a six-digit industry across the various components of IP that compose

that industry. Data from the Economic Census and ASM on shipments of different types of products within a

six-digit NAICS industry were used to determine the share of an industry’s value-added that was assigned to

each component IP index.

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 for mining

industries are derived from value-added data from the Economic Census. For some industries, however, data are

still not available for 2012, so the 2007 weights were extended based, in part, on commodities prices.

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

prices for the period after 2013. Table 12 shows the annual value-added proportions in the IP index from 2007

through 2014.

Revised Quarterly and Monthly Data

This revision incorporated 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 production-worker hours—which adjust for timing, holiday, and monthly seasonal

patterns—were updated with data through May 2015. The updated factors for the physical product series, which

include adjustments for holiday and workday patterns, used data through March 2015 where available.

Seasonal factors for unit motor vehicle assemblies have been updated, and projections through December

2016 are available on the Board’s website at www.federalreserve.gov/releases/g17/mvsf.htm. These factors are

based on production data through April 2015 and were revised back to January 1996. The seasonal factors

explicitly incorporate the holiday schedule for the vehicle assembly lines. The AFL-CIO’s current collective

bargaining agreements with domestic manufacturers, however, expire at the end of the third quarter of 2015.

Factors for the fourth quarter of 2015 and for 2016 were estimated based on the holiday schedule in place over

the past three years. Once the new agreements are finalized, the seasonal factors will be updated to reflect the

agreed-upon holiday schedule over the terms of the contracts.

10
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. As part of the reclassification from 2007 NAICS codes to 2012 NAICS codes, a number

of changes will be made to the published indexes. The aggregate index for all other basic inorganic

chemicals (2007 NAICS 325188) has been discontinued. Other changes are listed on the Board’s

website at www.federal reserve.gov/releases/g17/g17 revision series.htm.

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.

11
1. Total industrial production, capacity, and utilization

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

 Research (NBER). 

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

 55

 60

 65

 70

 80

 90

100

110

120

130

140

150

Capacity

Production

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2012-based indexes in 2007.

1

Revised

Earlier

Ratio scale, 2012 output = 100

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

62

66

70

74

78

82

86

Utilization

Percent of capacity

12
2. Manufacturing industrial production, capacity, and utilization

 Notes: The shaded areas represent 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 2014 2016

 55

 60

 65

 70

 80

 90

100

120

140

160

Capacity

Production

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2012-based indexes in 2007.

1

Revised

Earlier

Ratio scale, 2012 output = 100

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

62

66

70

74

78

82

86

Utilization

Percent of capacity

13
 3. Industrial production and capacity utilization

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

 (NAICS 3344), computers (NAICS 3341),and communications equipment (NAICS 3342).

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

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

 55

 60

 65

 70

 75

 80

 85

 90

 95

 100

 110

Excluding

high-technology

industries

Total IP

 Industrial production Ratio scale, 2012 output = 100 

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

 -20

 -15

 -10

 -5

 0

 5

 10

 15

Total IP

Excluding the

contribution

of high-technology

industries

 Industrial production Percent change from year earlier 

2006 2008 2010 2012 2014

 60

 65

 70

 80

 90

 100

 120

 140

 160

Natural gas extraction

Crude oil extraction

 Industrial production Ratio scale, 2012 output = 100 

1990 1995 2000 2005 2010 2015

 50

 60

 70

 80

 90

 100

High-technology

industries

Excluding

high-technology

industries

 Capacity utilization Percent of capacity 

14
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

4. Consumer goods

Total Ratio scale, 2012 output = 100

 70

 80

 90

100

110

120

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2012-based indexes in 2007.

1

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

Components of consumer goods Ratio scale, 2012 output = 100

 55

 75

 95

115

135

Durable

Nondurable

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

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2012-based indexes in 2007.

1

Revised durable

Revised nondurable

Earlier

Detail: 2012 to present

95

100

105

110

115

2012 2013 2014 2015

Detail: 2012 to present

95

100

105

110

115

120

125

130

135

2012 2013 2014 2015

15
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

5. Equipment

Total Ratio scale, 2012 output = 100

 30

 50

 70

 90

110

130

1

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

homes.

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

Business equipment Ratio scale, 2012 output = 100

 20

 40

 60

 80

100

120

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

Defense and space equipment Ratio scale, 2012 output = 100

 50

 70

 90

110

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

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2012-based indexes in 2007.

Detail: 2012 to present

 95

100

105

110

2012 2013 2014 2015

Detail: 2012 to present

 95

100

105

110

115

2012 2013 2014 2015

16
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

6. Nonindustrial supplies

Total Ratio scale, 2012 output = 100

 70

 90

110

130

1

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

Construction supplies Ratio scale, 2012 output = 100

 60

 80

100

120

140

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

Business supplies Ratio scale, 2012 output = 100

 60

 80

100

120

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

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2012-based indexes in 2007.

Detail: 2012 to present

 95

 100

 105

 110

2012 2013 2014 2015

Detail: 2012 to present

 95

100

105

110

115

2012 2013 2014 2015

17
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

7. Industrial materials

Total Ratio scale, 2012 output = 100

 50

 70

 90

120

1

Revised

Earlier

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

Energy materials Ratio scale, 2012 output = 100

 70

 90

110

130

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

Non-energy materials Ratio scale, 2012 output = 100

 40

 60

 80

100

130

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

1. For ease of comparison, the earlier indexes are adjusted to equal the revised 2012-based indexes in 2007.

Detail: 2012 to present

95

100

105

110

115

2012 2013 2014 2015

18
8. Capacity utilization by stage of process

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

 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 2014

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 2014

65

70

75

80

85

Finished processing

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

Capacity utilization Percent of capacity

19
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)

1985 -.2 .4 .2 -.3 .1 .1 -.7 .4 .5 -.4 .3 1.0 1.2 .3 -.6 2.4 1.2

1986 .5 -.7 -.7 .1 .2 -.3 .5 -.1 .2 .5 .5 .9 2.4 -2.4 1.5 4.6 1.0

1987 -.3 1.3 .2 .6 .6 .5 .7 .8 .2 1.5 .5 .5 5.4 7.2 7.7 10.0 5.2

1988 .1 .4 .2 .5 -.1 .3 .1 .4 -.3 .5 .2 .5 3.7 3.4 1.6 2.9 5.2

1989 .3 -.5 .3 .1 -.7 .1 -.9 .9 -.3 -.1 .3 .6 1.8 -1.4 -2.6 1.7 .9

1990 -.6 .9 .5 -.1 .2 .3 -.1 .3 .2 -.8 -1.2 -.7 2.8 3.2 1.7 -6.1 1.0

1991 -.4 -.7 -.6 .2 1.0 .9 .0 .1 .9 -.2 -.1 -.4 -7.4 2.4 5.5 .9 -1.5

1992 -.6 .7 .9 .7 .3 .0 .9 -.5 .2 .8 .4 .1 -.6 7.4 3.0 4.3 2.9

1993 .4 .4 -.1 .3 -.3 .2 .3 -.1 .5 .8 .4 .5 3.6 .9 1.7 6.2 3.3

1994 .4 .0 1.0 .5 .5 .7 .2 .6 .4 .9 .6 1.1 5.0 7.5 5.3 8.6 5.3

1995 .2 -.1 .2 .0 .3 .4 -.4 1.3 .4 -.1 .3 .4 4.5 1.4 3.8 3.5 4.8

1996 -.7 1.6 -.1 .9 .7 .8 -.2 .6 .7 -.1 .9 .7 2.7 8.7 5.1 5.7 4.5

1997 .1 1.2 .7 .1 .6 .5 .8 1.1 .9 .9 .9 .3 7.9 6.3 9.7 10.8 7.3

1998 .5 .1 .1 .4 .6 -.6 -.4 2.0 -.2 .8 -.1 .4 4.7 2.7 2.8 5.7 5.9

1999 .5 .5 .2 .2 .7 -.2 .6 .4 -.4 1.3 .5 .8 4.3 3.9 3.8 7.5 4.3

2000 .0 .3 .4 .8 .2 .1 -.1 -.4 .4 -.3 .0 -.3 4.4 5.4 -.3 -1.1 4.1

2001 -.7 -.6 -.3 -.3 -.7 -.7 -.5 -.2 -.3 -.5 -.5 .0 -5.5 -5.4 -5.7 -4.4 -3.3

2002 .6 .0 .8 .4 .4 1.0 -.2 .0 .1 -.3 .5 -.5 2.9 6.4 2.4 -.2 .3

2003 .7 .3 -.2 -.8 .0 .1 .4 -.2 .6 .1 .8 -.1 2.6 -2.9 2.4 3.8 1.3

2004 .2 .6 -.5 .4 .8 -.8 .8 .1 .1 .9 .2 .7 2.3 1.8 2.2 5.7 2.4

2005 .5 .7 -.1 .1 .2 .4 -.3 .2 -1.9 1.3 1.0 .6 5.8 2.1 -1.9 3.8 3.3

2006 .1 .0 .3 .4 -.1 .4 .0 .3 -.1 .0 -.1 1.0 3.7 2.4 1.5 1.0 2.2

2007 -.5 1.1 .1 .7 .0 .0 .0 .2 .4 -.5 .6 .0 3.7 5.0 .9 .6 2.5

2008 -.3 -.3 -.3 -.7 -.5 -.2 -.5 -1.5 -4.3 .9 -1.2 -2.9 -1.4 -5.4 -12.1 -15.9 -3.4

2009 -2.3 -.6 -1.5 -.8 -1.0 -.4 1.1 1.1 .8 .4 .3 .4 -20.3 -11.0 5.9 6.6 -11.3

2010 1.2 .3 .7 .4 1.5 .2 .5 .3 .2 -.2 .0 .9 8.0 8.3 6.0 1.5 5.6

2011 .0 -.5 .9 -.4 .3 .2 .4 .6 .0 .7 -.1 .5 2.2 .9 4.4 3.9 3.0

2012 .7 .2 -.7 .8 .1 -.1 .3 -.4 .1 .3 .5 .2 3.9 2.2 .1 2.2 2.8

2013 .1 .4 .2 .0 -.1 .2 -.4 .8 .6 .0 .3 .3 2.9 1.1 1.7 3.7 1.9

2014 -.2 .8 .8 .2 .4 .4 .3 .0 .5 .2 .9 .1 3.6 5.7 3.9 4.7 3.7

2015 -.3 -.1 -.1 -.3 -.2 .2 -.2 -1.7

IP (2012=100)

1985 56.3 56.6 56.7 56.5 56.6 56.6 56.2 56.5 56.7 56.5 56.7 57.3 56.5 56.6 56.5 56.8 56.6

1986 57.5 57.1 56.8 56.8 56.9 56.7 57.0 57.0 57.1 57.3 57.6 58.1 57.2 56.8 57.0 57.7 57.2

1987 57.9 58.6 58.8 59.1 59.5 59.8 60.2 60.7 60.8 61.7 62.0 62.3 58.4 59.5 60.6 62.0 60.1

1988 62.4 62.6 62.8 63.1 63.1 63.2 63.3 63.5 63.4 63.7 63.8 64.1 62.6 63.1 63.4 63.8 63.2

1989 64.3 64.0 64.1 64.2 63.7 63.8 63.2 63.7 63.5 63.5 63.7 64.1 64.1 63.9 63.5 63.7 63.8

1990 63.7 64.3 64.6 64.5 64.7 64.9 64.8 65.0 65.1 64.6 63.8 63.4 64.2 64.7 65.0 64.0 64.4

1991 63.1 62.7 62.4 62.5 63.1 63.7 63.7 63.8 64.4 64.2 64.2 63.9 62.7 63.1 64.0 64.1 63.5

1992 63.5 64.0 64.5 65.0 65.2 65.3 65.8 65.5 65.6 66.1 66.4 66.5 64.0 65.2 65.7 66.4 65.3

1993 66.8 67.0 67.0 67.2 67.0 67.1 67.3 67.2 67.6 68.1 68.4 68.7 66.9 67.1 67.4 68.4 67.4

1994 69.0 69.0 69.7 70.1 70.5 70.9 71.0 71.4 71.7 72.3 72.8 73.6 69.2 70.5 71.4 72.9 71.0

1995 73.7 73.6 73.7 73.7 73.9 74.2 73.9 74.9 75.2 75.1 75.2 75.5 73.7 74.0 74.6 75.3 74.4

1996 75.0 76.2 76.1 76.8 77.3 78.0 77.9 78.3 78.9 78.8 79.5 80.0 75.8 77.4 78.3 79.4 77.7

1997 80.1 81.1 81.7 81.7 82.2 82.7 83.3 84.2 84.9 85.7 86.5 86.8 81.0 82.2 84.1 86.3 83.4

1998 87.2 87.3 87.4 87.7 88.3 87.7 87.4 89.2 89.0 89.7 89.6 89.9 87.3 87.9 88.5 89.7 88.4

1999 90.3 90.8 90.9 91.2 91.8 91.7 92.3 92.6 92.3 93.5 94.0 94.7 90.7 91.6 92.4 94.1 92.2

2000 94.8 95.1 95.5 96.2 96.4 96.5 96.4 96.0 96.4 96.1 96.1 95.8 95.1 96.4 96.3 96.0 95.9

2001 95.2 94.6 94.3 94.0 93.4 92.7 92.2 92.0 91.7 91.3 90.8 90.8 94.7 93.4 92.0 91.0 92.8

2002 91.4 91.4 92.1 92.5 92.9 93.8 93.6 93.6 93.7 93.4 93.9 93.5 91.6 93.1 93.6 93.6 93.0

2003 94.1 94.4 94.2 93.4 93.5 93.6 94.0 93.8 94.4 94.5 95.2 95.1 94.2 93.5 94.1 94.9 94.2

2004 95.3 95.8 95.3 95.7 96.4 95.6 96.4 96.4 96.5 97.4 97.6 98.3 95.5 95.9 96.4 97.8 96.4

2005 98.8 99.4 99.3 99.5 99.6 100.0 99.7 99.9 98.0 99.3 100.3 100.9 99.2 99.7 99.2 100.2 99.6

2006 101.0 101.0 101.3 101.7 101.5 101.9 101.9 102.3 102.1 102.1 102.0 103.0 101.1 101.7 102.1 102.3 101.8

2007 102.5 103.6 103.8 104.5 104.6 104.6 104.5 104.7 105.1 104.5 105.2 105.1 103.3 104.5 104.8 104.9 104.4

2008 104.9 104.6 104.3 103.5 103.1 102.8 102.3 100.8 96.5 97.4 96.1 93.4 104.6 103.1 99.9 95.6 100.8

2009 91.2 90.6 89.2 88.5 87.6 87.2 88.2 89.1 89.8 90.2 90.4 90.8 90.4 87.8 89.0 90.5 89.4

2010 91.8 92.1 92.7 93.1 94.5 94.7 95.2 95.5 95.7 95.5 95.5 96.4 92.2 94.1 95.5 95.8 94.4

2011 96.4 95.9 96.7 96.3 96.5 96.8 97.2 97.8 97.8 98.4 98.3 98.8 96.3 96.5 97.6 98.5 97.2

2012 99.5 99.7 99.1 99.9 100.1 100.0 100.3 99.8 99.9 100.2 100.6 100.9 99.4 100.0 100.0 100.6 100.0

2013 100.9 101.3 101.6 101.5 101.5 101.7 101.3 102.0 102.6 102.7 102.9 103.2 101.3 101.6 102.0 102.9 101.9

2014 103.0 103.8 104.7 104.9 105.2 105.7 106.1 106.1 106.7 106.8 107.8 107.9 103.8 105.3 106.3 107.5 105.7

2015 107.6 107.5 107.4 107.0 106.9 107.1 107.5 107.0

NOTE: Estimates from February 2015 through June 2015 are subject to further revision in the upcoming monthly releases.

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

20
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

2012 output)

1985 70.6 70.7 70.9 71.1 71.3 71.4 71.6 71.7 71.9 72.0 72.1 72.2 70.7 71.3 71.7 72.1 71.5

1986 72.3 72.4 72.4 72.5 72.6 72.6 72.7 72.8 72.9 73.0 73.1 73.2 72.4 72.6 72.8 73.1 72.7

1987 73.3 73.5 73.6 73.7 73.9 74.0 74.2 74.3 74.4 74.5 74.6 74.7 73.5 73.9 74.3 74.6 74.1

1988 74.8 74.9 74.9 74.9 75.0 75.0 75.0 75.1 75.1 75.2 75.2 75.3 74.9 75.0 75.1 75.2 75.0

1989 75.4 75.5 75.6 75.8 75.9 76.1 76.2 76.4 76.6 76.7 76.9 77.1 75.5 75.9 76.4 76.9 76.2

1990 77.3 77.5 77.6 77.8 78.0 78.1 78.3 78.4 78.5 78.7 78.8 78.9 77.5 78.0 78.4 78.8 78.2

1991 79.0 79.1 79.1 79.2 79.3 79.4 79.5 79.6 79.7 79.8 79.9 80.0 79.1 79.3 79.6 79.9 79.5

1992 80.2 80.3 80.5 80.6 80.8 81.0 81.2 81.3 81.5 81.7 81.8 81.9 80.3 80.8 81.3 81.8 81.1

1993 82.1 82.2 82.3 82.4 82.6 82.7 82.8 82.9 83.0 83.2 83.3 83.5 82.2 82.6 82.9 83.3 82.8

1994 83.7 83.9 84.1 84.3 84.5 84.8 85.1 85.3 85.6 85.9 86.2 86.5 83.9 84.6 85.3 86.2 85.0

1995 86.8 87.1 87.4 87.8 88.1 88.4 88.7 89.1 89.4 89.8 90.2 90.6 87.1 88.1 89.1 90.2 88.6

1996 90.9 91.3 91.8 92.2 92.6 93.0 93.5 93.9 94.3 94.8 95.3 95.7 91.4 92.6 93.9 95.3 93.3

1997 96.2 96.7 97.2 97.7 98.3 98.8 99.4 100.0 100.6 101.3 102.0 102.6 96.7 98.3 100.0 102.0 99.2

1998 103.3 104.0 104.7 105.4 106.1 106.7 107.3 107.9 108.4 109.0 109.5 110.0 104.0 106.0 107.9 109.5 106.9

1999 110.5 111.0 111.4 111.9 112.3 112.7 113.2 113.6 114.0 114.4 114.9 115.3 111.0 112.3 113.6 114.9 112.9

2000 115.7 116.1 116.5 117.0 117.4 117.7 118.1 118.5 118.9 119.2 119.6 120.0 116.1 117.4 118.5 119.6 117.9

2001 120.3 120.6 121.0 121.3 121.6 121.9 122.2 122.5 122.8 123.0 123.2 123.5 120.6 121.6 122.5 123.2 122.0

2002 123.7 123.8 124.0 124.1 124.2 124.2 124.3 124.3 124.3 124.3 124.2 124.2 123.8 124.2 124.3 124.2 124.1

2003 124.1 124.1 124.0 124.0 123.9 123.9 123.8 123.8 123.8 123.7 123.7 123.6 124.1 123.9 123.8 123.7 123.9

2004 123.6 123.6 123.5 123.5 123.4 123.4 123.3 123.3 123.3 123.4 123.4 123.5 123.6 123.4 123.3 123.4 123.4

2005 123.6 123.7 123.8 124.0 124.2 124.4 124.5 124.7 124.9 125.1 125.3 125.5 123.7 124.2 124.7 125.3 124.5

2006 125.7 125.8 126.0 126.2 126.3 126.5 126.7 126.9 127.2 127.4 127.7 128.0 125.8 126.3 127.0 127.7 126.7

2007 128.3 128.5 128.8 129.1 129.3 129.5 129.7 129.8 129.9 130.0 130.0 129.9 128.5 129.3 129.8 129.9 129.4

2008 129.9 129.8 129.7 129.6 129.5 129.5 129.5 129.5 129.6 129.7 129.8 129.9 129.8 129.5 129.5 129.8 129.7

2009 130.0 130.2 130.2 130.3 130.4 130.4 130.3 130.3 130.1 130.0 129.8 129.6 130.1 130.4 130.2 129.8 130.1

2010 129.3 129.1 128.8 128.5 128.3 128.0 127.8 127.6 127.4 127.3 127.2 127.1 129.1 128.3 127.6 127.2 128.0

2011 127.1 127.1 127.1 127.1 127.2 127.4 127.5 127.7 127.9 128.2 128.4 128.7 127.1 127.2 127.7 128.4 127.6

2012 128.9 129.2 129.5 129.8 130.1 130.3 130.6 130.8 131.1 131.3 131.5 131.7 129.2 130.1 130.8 131.5 130.4

2013 131.9 132.0 132.2 132.4 132.5 132.7 132.9 133.0 133.2 133.4 133.6 133.8 132.0 132.5 133.0 133.6 132.8

2014 134.1 134.3 134.5 134.8 135.0 135.2 135.5 135.7 136.0 136.2 136.4 136.6 134.3 135.0 135.7 136.4 135.3

2015 136.8 137.0 137.1 137.3 137.5 137.6 137.0 137.5

Utilization (percent)

1985 79.8 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 79.0 78.4 78.3 78.4 78.1 78.4 78.3 78.3 78.6 78.8 79.4 79.0 78.3 78.3 78.9 78.6

1987 79.0 79.8 79.8 80.2 80.5 80.7 81.1 81.7 81.7 82.8 83.1 83.4 79.6 80.5 81.5 83.1 81.2

1988 83.4 83.7 83.8 84.2 84.1 84.3 84.3 84.6 84.3 84.7 84.8 85.1 83.6 84.2 84.4 84.8 84.3

1989 85.2 84.7 84.8 84.7 84.0 83.8 82.9 83.4 83.0 82.7 82.8 83.1 84.9 84.2 83.1 82.9 83.8

1990 82.4 83.0 83.2 83.0 82.9 83.0 82.8 82.9 82.9 82.1 81.1 80.4 82.9 83.0 82.8 81.2 82.5

1991 80.0 79.3 78.8 78.9 79.6 80.2 80.2 80.2 80.8 80.5 80.3 79.9 79.4 79.6 80.4 80.2 79.9

1992 79.2 79.7 80.2 80.6 80.7 80.6 81.1 80.5 80.6 81.0 81.2 81.1 79.7 80.6 80.7 81.1 80.6

1993 81.4 81.6 81.4 81.5 81.1 81.2 81.3 81.1 81.4 81.8 82.0 82.3 81.4 81.3 81.3 82.1 81.5

1994 82.4 82.3 82.9 83.1 83.3 83.6 83.5 83.7 83.7 84.2 84.4 85.0 82.5 83.4 83.7 84.5 83.5

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

1996 82.5 83.4 83.0 83.3 83.5 83.8 83.3 83.4 83.6 83.1 83.4 83.6 83.0 83.6 83.4 83.4 83.3

1997 83.3 83.9 84.0 83.6 83.7 83.6 83.8 84.2 84.4 84.6 84.8 84.5 83.7 83.7 84.1 84.7 84.0

1998 84.4 83.9 83.5 83.2 83.2 82.2 81.4 82.6 82.0 82.3 81.8 81.8 83.9 82.9 82.0 82.0 82.7

1999 81.8 81.8 81.6 81.5 81.8 81.3 81.5 81.6 81.0 81.7 81.8 82.2 81.7 81.5 81.3 81.9 81.6

2000 81.9 81.9 81.9 82.2 82.1 81.9 81.6 81.0 81.1 80.6 80.4 79.9 81.9 82.1 81.3 80.3 81.4

2001 79.1 78.4 78.0 77.5 76.8 76.1 75.5 75.1 74.7 74.2 73.7 73.6 78.5 76.8 75.1 73.8 76.1

2002 73.9 73.8 74.3 74.6 74.8 75.5 75.3 75.3 75.4 75.2 75.6 75.2 74.0 75.0 75.3 75.3 74.9

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

2004 77.1 77.6 77.2 77.5 78.1 77.5 78.1 78.2 78.2 79.0 79.1 79.6 77.3 77.7 78.2 79.2 78.1

2005 79.9 80.4 80.2 80.2 80.2 80.4 80.1 80.1 78.5 79.4 80.0 80.4 80.2 80.3 79.6 79.9 80.0

2006 80.4 80.3 80.4 80.6 80.4 80.6 80.4 80.5 80.3 80.1 79.8 80.5 80.4 80.5 80.4 80.1 80.3

2007 79.9 80.6 80.5 81.0 80.9 80.7 80.6 80.7 80.9 80.4 80.9 80.9 80.4 80.8 80.7 80.8 80.7

2008 80.7 80.6 80.4 79.9 79.6 79.4 79.0 77.8 74.5 75.1 74.1 71.9 80.6 79.6 77.1 73.7 77.7

2009 70.1 69.6 68.5 67.9 67.2 66.9 67.6 68.4 69.0 69.4 69.7 70.0 69.4 67.3 68.4 69.7 68.7

2010 71.0 71.4 72.0 72.4 73.6 73.9 74.4 74.8 75.1 75.0 75.1 75.8 71.4 73.3 74.8 75.3 73.7

2011 75.8 75.5 76.1 75.7 75.9 76.0 76.2 76.6 76.4 76.8 76.5 76.8 75.8 75.9 76.4 76.7 76.2

2012 77.2 77.2 76.5 77.0 76.9 76.7 76.8 76.3 76.2 76.3 76.5 76.6 77.0 76.9 76.4 76.5 76.7

2013 76.5 76.7 76.8 76.7 76.6 76.6 76.2 76.7 77.0 76.9 77.0 77.1 76.7 76.6 76.7 77.0 76.7

2014 76.8 77.3 77.8 77.8 78.0 78.2 78.3 78.2 78.5 78.5 79.0 79.0 77.3 78.0 78.3 78.8 78.1

2015 78.7 78.5 78.3 78.0 77.7 77.8 78.5 77.8

NOTE: Estimates from February 2015 through June 2015 are subject to further revision in the upcoming monthly releases.

21
Table 2

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY: 2011–151

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2011 2012 2013 2014 2015 2011 2012 2013 2014 2015

Total IP 2.8 2.1 2.3 4.5 -1.0 -.3 -1.1 -1.0 -.1 -.3

MARKET GROUPS

Final products and nonindustrial supplies 1.9 1.2 1.6 3.0 -.9 -.5 -1.6 -1.6 -.4 .0

Consumer goods .6 -1.2 2.9 1.8 1.5 -1.4 -2.9 -.3 -.7 -.2

Durable 5.2 .1 9.5 5.9 4.3 -2.8 -6.2 .5 .3 .6

Automotive products 11.6 -1.9 15.5 6.8 9.4 -3.5 -8.4 4.2 -.5 1.4

Home electronics 12.1 7.0 2.4 3.4 4.8 6.9 9.6 -2.2 -2.5 2.7

Appliances, furniture, carpeting 1.0 2.0 5.6 7.6 -1.9 -.3 -1.7 -1.8 -.5 .9

Miscellaneous goods -2.1 1.4 3.8 4.2 -.5 -2.9 -6.1 -2.9 2.1 -.4

Nondurable -.5 -1.6 1.3 .8 .8 -.9 -2.0 -.4 -.8 -.4

Non-energy .0 -2.5 -.9 1.8 .7 -1.1 -2.7 -1.2 -.7 -.1

Foods and tobacco -.9 1.0 1.1 .4 1.3 -1.8 -2.1 .3 -1.8 .4

Clothing -5.8 -6.7 -1.5 .1 -4.8 2.0 -5.2 -7.8 -2.3 -4.2

Chemical products 2.0 -8.1 -4.9 6.3 2.3 -.6 -4.3 -4.6 1.7 -.5

Paper products .7 -4.8 -.5 -5.6 -6.9 1.0 1.5 2.4 -.7 -1.7

Energy -1.6 1.1 7.3 -1.8 .8 -.4 .0 1.6 -1.0 -1.7

Business equipment 6.1 7.4 -1.5 7.3 -.4 1.5 .8 -4.9 1.1 -.7

Transit 8.6 19.5 1.4 11.8 4.4 1.5 4.9 -1.8 6.2 1.2

Information processing 2.4 5.8 -.2 3.4 1.1 1.6 -.6 -4.1 .8 -1.0

Industrial and other 6.8 3.6 -3.3 6.9 -3.3 1.5 .0 -6.6 -.8 -1.7

Defense and space equipment -.7 .6 -5.2 -.8 .3 -.1 -4.0 -6.9 -2.5 4.7

Construction supplies 2.0 3.2 3.4 5.2 -2.2 -.5 -.6 -1.6 .0 1.0

Business supplies .6 1.7 2.2 1.7 -.2 .1 -.4 -.8 -1.2 -.9

Materials 4.0 3.2 3.2 6.1 -1.0 -.1 -.6 -.2 .3 -.6

Non-energy 3.4 1.9 1.6 3.4 -.6 -.3 -2.6 -.9 -1.1 .4

Durable 6.5 3.0 2.4 4.8 -1.3 -.6 -3.1 -1.7 -1.1 .5

Consumer parts 8.8 8.7 4.0 9.0 4.8 3.6 .0 -2.4 .9 3.8

Equipment parts 10.6 2.4 .8 4.0 -2.7 -1.3 -5.8 -3.3 -3.3 -.1

Other 2.8 1.7 3.0 3.8 -2.7 -1.3 -2.1 -.5 -.4 -.7

Nondurable -1.0 .2 .4 1.1 .5 .1 -1.9 .3 -1.0 .3

Textile -6.5 -1.4 6.7 1.5 4.3 -4.0 .2 5.0 -3.8 -1.4

Paper -.2 1.1 -1.4 -1.8 .1 1.1 3.4 -1.0 -.7 .1

Chemical -1.2 -.2 .0 2.4 .2 .4 -4.8 -.1 -1.1 -.1

Energy 4.9 5.2 5.6 9.9 -1.8 .1 2.6 .6 2.0 -2.4

INDUSTRY GROUPS

Manufacturing 2.7 1.5 1.3 3.4 .4 -.4 -1.9 -1.7 -.7 .1

Manufacturing (NAICS) 31–33 2.9 1.9 1.4 3.9 .5 -.4 -2.0 -1.8 -.6 .2

Durable manufacturing 5.4 3.6 2.0 5.1 -.3 -.6 -2.6 -2.9 -.5 .4

Wood products 321 1.0 7.8 5.3 4.2 -6.0 .1 .0 -3.7 .8 .0

Nonmetallic mineral products 327 -.4 3.9 3.6 5.2 1.5 -.3 1.7 -.3 -2.2 .7

Primary metals 331 6.5 -4.5 5.5 1.2 -10.3 -2.0 -3.1 1.5 -1.2 -2.1

Fabricated metal products 332 4.2 1.4 2.9 2.4 -.4 -2.3 -4.1 -1.9 -1.2 -.1

Machinery 333 10.0 2.3 -3.6 8.2 -5.2 1.9 .5 -8.5 -.9 -1.5

Computer and electronic products 334 6.4 6.3 -.5 3.6 -1.7 -.3 -6.6 -4.6 -1.4 -1.7

Electrical equip., appliances,

and components 335 1.5 2.2 -.7 2.6 4.8 -.7 -1.8 -3.3 -.6 -1.1

Motor vehicles and parts 3361–3 11.2 6.3 10.2 9.8 8.5 -.1 -5.3 1.3 2.6 2.3

Aerospace and miscellaneous

transportation equipment 3364–9 6.4 8.2 -1.1 3.0 4.0 .0 3.2 -3.4 -2.5 3.4

Furniture and related products 337 1.4 6.3 3.2 9.3 -2.1 1.5 2.0 -1.5 -.1 -.7

Miscellaneous 339 -4.2 .0 5.6 5.8 -2.5 -3.7 -7.3 -1.1 .9 1.3

Nondurable manufacturing .2 .0 .7 2.6 1.4 -.2 -1.3 -.5 -.7 -.1

Food, beverage, and tobacco products 311,2 -1.0 1.0 1.4 .7 1.6 -1.7 -2.3 .5 -1.8 .3

Textile and product mills 313,4 -4.0 -2.1 5.5 1.7 .9 -3.5 -1.1 4.7 -2.4 -.4

Apparel and leather 315,6 -5.9 -7.2 -.7 .4 -4.4 -.7 -5.3 -6.6 -1.2 -4.3

Paper 322 1.3 2.6 -2.0 -.9 -.5 1.8 4.7 -.6 .0 .4

Printing and support 323 -3.5 -.5 3.0 .2 .6 .1 2.1 -.1 -1.5 -.2

Petroleum and coal products 324 2.8 -.5 5.6 .1 5.5 -.2 1.0 4.0 -2.0 1.7

Chemicals 325 .8 -2.2 -1.9 4.5 .9 .7 -3.2 -2.6 .4 -.6

Plastics and rubber products 326 1.4 4.8 2.1 9.7 1.5 .6 -.1 -2.3 .7 -.3

Other manufacturing (non-NAICS) 1133,5111 -.5 -6.5 -1.6 -8.6 -2.9 -.3 -.3 1.8 -1.3 -1.8

Mining 21 7.1 6.2 5.8 12.3 -8.2 -.3 2.0 1.0 2.2 -3.6

Utilities 2211,2 -2.2 .1 4.6 -1.0 -.8 .0 .0 .4 -.2 -.6

Electric 2211 -1.7 -.4 3.7 -.6 -.4 .0 .0 .4 -.3 -.4

Natural gas 2212 -5.7 4.0 11.0 -3.2 -4.2 .1 .0 .4 .9 -2.6

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. For 2015, the rates are calculated from the fourth quarter of 2014 to the second quarter 2015 and are annualized.

22
Table 3

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, SPECIAL AGGREGATES AND SELECTED DETAIL: 2011–151

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2011 2012 2013 2014 2015 2011 2012 2013 2014 2015

Total industry 2.8 2.1 2.3 4.5 -1.0 -.3 -1.1 -1.0 -.1 -.3

Energy 3.3 3.6 5.6 6.6 -3.9 .0 1.8 .8 1.0 -2.0

Consumer products -1.6 1.1 7.3 -1.8 .8 -.4 .0 1.6 -1.0 -1.7

Commercial products -.4 1.4 4.7 1.3 .6 -.2 .0 .7 -.4 -.1

Oil and gas well drilling 213111 21.1 -7.6 -1.3 7.3 -76.7 -.2 -.1 -.2 .0 .2

Converted fuel .0 4.6 .9 .8 1.2 1.4 4.3 -.1 .0 -1.0

Primary energy 6.3 5.4 6.8 12.2 -2.7 -.3 2.1 .8 2.5 -2.9

Non-energy 2.7 1.5 1.1 3.6 .0 -.5 -2.2 -1.7 -.6 .2

Selected high-technology industries 8.0 9.8 2.6 1.6 -4.0 -.8 -7.1 -2.9 -4.6 -.8

Computers and peripheral equipment 3341 .6 20.6 -.9 10.3 6.9 20.6 18.0 -14.5 11.0 4.8

Communications equipment 3342 3.7 3.0 13.6 -10.7 1.9 -7.4 4.5 11.0 -11.1 5.8

Semiconductors and related

electronic components 3344 10.3 9.7 .2 4.1 -7.6 -3.2 -13.9 -4.7 -4.4 -3.9

Excluding selected high-technology

industries 2.4 1.1 1.0 3.6 .1 -.5 -2.0 -1.7 -.5 .2

Motor vehicles and parts 3361–3 11.2 6.3 10.2 9.8 8.5 -.1 -5.3 1.3 2.6 2.3

Motor vehicles 3361 13.2 1.1 14.6 8.1 9.3 -4.8 -11.5 2.9 2.0 -.1

Motor vehicle parts 3363 9.1 10.5 5.4 11.6 8.6 4.3 .7 -.5 4.5 5.5

Excluding motor vehicles and parts 1.8 .8 .4 3.2 -.5 -.5 -1.7 -1.9 -.7 -.1

Consumer goods .0 -2.1 -.1 2.4 .7 -1.4 -3.2 -1.4 -.5 -.2

Business equipment 7.0 6.8 -2.4 7.3 -1.4 1.5 .9 -6.1 .5 -1.2

Construction supplies 1.9 3.2 3.4 5.3 -2.3 -.5 -.6 -1.6 .0 .9

Business supplies .0 .9 1.1 1.5 .1 -.2 -.6 -1.1 -1.6 -.9

Materials 2.3 .6 1.5 2.7 -1.1 -.5 -1.9 -.5 -1.1 .0

Measures excluding selected high-technology

industries

Total industry 2.6 1.8 2.3 4.5 -.9 -.3 -.9 -.9 .0 -.3

Manufacturing2

2.4 1.2 1.2 3.5 .5 -.4 -1.7 -1.6 -.5 .1

Durable 5.1 3.0 2.0 5.3 -.2 -.6 -2.1 -2.9 -.1 .4

Measures excluding motor vehicles and parts

Total industry 2.5 1.9 2.0 4.2 -1.5 -.4 -.9 -1.1 -.3 -.5

Manufacturing2

2.2 1.2 .7 3.0 -.2 -.4 -1.7 -1.9 -.9 -.1

Durable 4.7 3.2 .9 4.3 -1.7 -.7 -2.2 -3.5 -1.0 .0

Measures excluding selected high-technology

industries and motor vehicles and parts

Total industry 2.2 1.6 2.0 4.3 -1.4 -.3 -.7 -1.0 -.1 -.5

Manufacturing2

1.9 .8 .6 3.0 -.1 -.4 -1.4 -1.8 -.8 -.1

Stage-of-process components

of non-energy materials,

measures of the input to

Finished processors 7.4 3.5 1.4 4.2 .1 .1 -2.5 -2.3 -1.8 1.2

Primary and semifinished processors .9 .8 1.8 2.8 -1.2 -.6 -2.7 .0 -.6 -.1

STAGE-OF-PROCESS GROUPS

Crude 4.9 5.6 4.8 9.0 -1.7 .3 1.8 1.0 1.7 -3.1

Primary and semifinished 1.7 1.3 3.1 2.3 -.5 -.5 -1.3 -.3 -1.0 .5

Finished 3.2 1.1 -.1 4.5 -1.4 -.5 -2.6 -3.2 .0 .2

1. See footnote 1 to table 2.

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.

23
Table 4

ANNUAL RATES OF CHANGE FOR INDUSTRIAL PRODUCTION: 2010–141

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2010 2011 2012 2013 2014 2010 2011 2012 2013 2014

Total IP 5.6 3.0 2.8 1.9 3.7 -.1 -.3 -.9 -.9 -.4

MARKET GROUPS

Consumer goods 1.2 1.2 -1.4 1.5 2.2 .1 -.3 -3.1 -.9 -.7

Durable 8.8 4.4 2.0 5.5 7.0 1.5 -.5 -6.0 -2.1 1.0

Nondurable -.7 .4 -2.2 .6 .9 -.1 -.2 -2.2 -.4 -1.0

Business equipment 7.9 5.3 9.9 -.4 4.7 -.3 -.2 2.4 -4.0 -.3

Defense and space equipment 7.5 -2.8 1.8 -3.1 -3.2 -.4 .6 -2.9 -5.4 -5.0

Construction supplies 3.6 2.3 4.3 2.9 3.9 -.1 -.7 -.3 -1.4 -.3

Business supplies 3.5 1.4 1.5 1.5 1.7 1.2 .4 -.3 -.5 -.8

Materials 8.4 4.2 4.1 3.1 5.1 -.4 -.5 -.4 -.1 .0

Non-energy 11.1 4.7 2.8 1.4 2.5 -.5 -.5 -1.9 -1.5 -1.1

Energy 4.2 3.4 6.3 5.7 8.7 .0 -.3 1.9 1.8 1.4

INDUSTRY GROUPS

Manufacturing25.9 3.0 2.7 .9 2.5 -.1 -.3 -1.5 -1.7 -1.0

Manufacturing (NAICS) 6.5 3.3 2.9 1.1 2.8 -.1 -.4 -1.5 -1.9 -.9

Durable manufacturing 10.7 6.2 5.5 1.4 4.1 -.3 -.6 -1.8 -3.1 -1.1

Nondurable manufacturing 2.2 .2 .1 .7 1.4 .0 -.1 -1.2 -.5 -.7

Other manufacturing (non-NAICS) -5.3 -2.7 -2.7 -3.3 -5.6 .0 .1 -.7 2.1 -1.1

Mining 5.2 5.6 7.5 6.5 10.8 .0 -.5 1.2 1.8 1.8

Utilities 3.6 -.2 -2.2 2.5 1.1 .0 .0 .0 .4 -.3

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: 2011–151

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2011 2012 2013 2014 2015 2011 2012 2013 2014 2015

Total industry .9 2.4 1.6 2.1 1.5 -.5 -.2 -.2 -1.1 -.3

Manufacturing2.2 1.9 1.1 .7 1.2 -.3 -.3 -.7 -1.4 -.5

Manufacturing (NAICS) .2 2.0 1.2 .9 1.3 -.4 -.4 -.7 -1.4 -.5

Durable manufacturing 2.1 2.2 1.8 1.6 1.9 -.5 -1.7 -1.3 -1.6 -.9

Nondurable manufacturing -1.6 1.8 .6 .0 .8 -.2 1.2 -.1 -1.3 .0

Other manufacturing (non-NAICS) -.2 .0 -1.2 -2.3 -2.2 .0 1.2 .1 -1.4 -.7

Mining 4.5 5.8 6.4 9.3 4.2 -1.5 1.0 2.4 .1 .9

Utilities 1.9 1.2 .3 1.2 .8 .0 -.1 -.1 .1 .5

Selected high-technology industries 24.5 13.7 -.5 .9 5.9 -1.4 -5.3 -5.2 -7.7 -2.3

Manufacturing2ex. selected

high-technology industries -.9 1.4 1.3 .7 .9 -.3 .0 -.4 -1.1 -.4

STAGE-OF-PROCESS GROUPS

Crude 4.0 6.3 4.4 7.0 3.3 -.6 2.8 1.3 -.4 .4

Primary and semifinished 1.4 1.8 .7 .5 1.0 .3 -.2 .0 -1.4 -.5

Finished -.8 1.2 1.6 1.3 1.5 -1.3 -1.4 -1.3 -1.0 -.3

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

heading. 2. See footnote 2 to table 3.

24
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 2014 2011 2012 2013 2014 2011 2012 2013 2014

Ave. Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4

Total industry 80.1 76.7 76.5 77.0 78.8 -.1 -.8 -1.4 -.7

Manufacturing178.5 74.4 74.1 74.2 76.2 -.3 -1.4 -2.2 -1.6

Manufacturing (NAICS) 31–33 78.4 74.7 74.6 74.7 77.0 -.3 -1.5 -2.3 -1.7

Durable manufacturing 76.9 73.2 74.2 74.4 76.9 -.1 -.7 -1.9 -1.1

Wood products 321 76.4 60.7 66.3 70.1 71.9 .2 -.3 -2.5 .0

Nonmetallic mineral products 327 74.2 53.3 55.8 59.0 62.5 -.1 -.5 -.9 -2.6

Primary metals 331 79.0 76.1 76.1 76.0 77.8 .0 .9 -1.4 -.7

Fabricated metal products 332 77.6 78.2 77.2 79.5 81.5 -1.4 -3.0 -1.3 .9

Machinery 333 77.8 78.5 79.2 74.0 78.0 -1.0 1.4 -4.8 -5.1

Computer and electronic products 334 77.9 74.1 73.2 73.0 74.1 .4 -.7 -.2 2.6

Electrical equip., appliances,

and components 335 82.2 80.4 81.7 81.1 83.0 .1 -.9 -2.3 -1.6

Motor vehicles and parts 3361–3 74.8 67.0 69.4 73.0 76.5 -.4 -3.4 -5.2 -6.1

Aerospace and miscellaneous

transportation equipment 3364–9 73.8 74.2 78.7 76.5 78.3 .7 3.1 1.0 .0

Furniture and related products 337 76.5 66.4 69.8 72.2 78.9 .7 -.5 -1.7 -1.3

Miscellaneous 339 76.3 76.8 76.0 77.4 78.9 1.6 -1.1 1.6 2.9

Nondurable manufacturing 80.4 76.4 75.0 75.1 77.0 -.6 -2.5 -2.8 -2.5

Food, beverage, and tobacco products 311,2 80.8 77.6 78.2 79.0 79.1 -.8 -2.2 -1.2 -1.5

Textile and product mills 313,4 79.5 65.6 66.1 71.1 73.2 -.8 -2.0 .7 -1.2

Apparel and leather 315,6 76.9 66.1 63.0 64.0 65.7 -.5 -5.2 -11.0 -12.3

Paper 322 86.6 81.7 83.6 82.5 83.5 -.5 1.1 .1 -.2

Printing and support 323 80.0 62.2 62.0 63.2 63.3 -4.2 -5.1 -7.6 -9.8

Petroleum and coal products 324 85.4 83.7 81.0 82.3 83.4 -1.4 -1.1 -.9 -1.1

Chemicals 325 77.2 75.7 71.5 70.1 73.7 .1 -4.1 -5.1 -3.6

Plastics and rubber products 326 82.0 73.6 76.0 76.0 80.7 1.2 1.3 -.5 1.0

Other manufacturing (non-NAICS) 1133,5111 81.4 67.1 62.7 62.5 58.5 1.1 .1 1.2 1.2

Mining 21 87.5 88.4 88.8 88.3 90.7 1.0 1.9 .7 2.4

Utilities 2211,2 85.9 79.2 78.4 81.7 80.0 -.1 .0 .4 .1

Selected high-technology industries 77.7 71.9 69.4 71.5 72.0 -.4 -1.5 .1 2.1

Computers and peripheral equipment 3341 77.8 73.5 67.1 64.1 66.4 1.5 -2.6 -4.9 -3.2

Communications equipment 3342 76.8 74.1 76.2 85.9 74.1 -2.9 -.4 7.7 -2.6

Semiconductors and related

electronic components 3344 79.1 71.1 68.1 69.2 72.9 .1 -1.7 -1.4 4.3

Measures excluding selected high-technology

industries

Total industry 80.2 76.9 76.7 77.2 79.0 .0 -.8 -1.4 -.9

Manufacturing178.6 74.5 74.3 74.3 76.4 -.2 -1.5 -2.3 -1.9

STAGE-OF-PROCESS GROUPS

Crude 86.3 86.8 86.2 86.3 88.2 1.1 .5 .3 1.7

Primary and semifinished 80.7 74.1 73.8 75.4 76.8 -.4 -1.2 -1.7 -1.2

Finished 77.0 75.1 75.1 74.1 76.2 -.3 -1.1 -2.0 -1.6

1. See footnote 2 to table 3.

25
Table 7

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, 2010 H2–2015 H1

NAICS 2010 2011 2012 2013 2014 2015

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

Total IP 3.7 1.5 4.1 3.0 1.2 2.0 2.7 4.6 4.3 -1.0

MARKET GROUPS

Final products and nonindustrial supplies 2.2 .9 2.8 2.6 -.3 1.2 2.0 2.9 3.2 -.9

Consumer goods 1.3 1.4 -.2 -1.8 -.7 2.9 2.9 1.6 2.0 1.5

Durable 2.0 3.4 7.0 1.6 -1.5 9.8 9.3 5.6 6.3 4.3

Automotive products 4.9 6.6 16.7 -.9 -2.8 17.0 13.9 6.4 7.2 9.4

Home electronics -6.3 12.6 11.6 10.2 4.0 7.3 -2.2 -2.0 9.1 4.8

Appliances, furniture, carpeting -5.8 .3 1.6 5.0 -.9 4.9 6.3 7.0 8.2 -1.9

Miscellaneous goods .6 -.7 -3.4 3.0 -.3 2.5 5.2 4.5 3.9 -.5

Nondurable 1.1 .9 -1.8 -2.6 -.5 1.2 1.3 .6 .9 .8

Non-energy .4 .9 -.9 -2.8 -2.2 -1.0 -.7 2.1 1.4 .7

Foods and tobacco 1.6 -.6 -1.3 .3 1.7 1.7 .4 .6 .1 1.3

Clothing 4.3 -4.8 -6.8 -1.5 -11.7 -7.1 4.4 -.5 .8 -4.8

Chemical products -1.7 5.6 -1.5 -7.7 -8.5 -6.0 -3.8 6.8 5.8 2.3

Paper products -.6 -4.5 6.2 -6.4 -3.1 -.4 -.7 -4.4 -6.7 -6.9

Energy 3.6 1.1 -4.3 -2.2 4.5 7.5 7.0 -3.2 -.3 .8

Business equipment 6.4 1.0 11.5 13.9 1.3 -3.0 -.1 8.8 5.8 -.4

Transit .5 -5.3 24.6 27.9 11.6 1.8 1.1 14.3 9.3 4.4

Information processing -1.7 -2.2 7.2 11.0 .8 -2.6 2.2 1.3 5.6 1.1

Industrial and other 12.9 4.8 8.8 10.1 -2.4 -5.1 -1.5 9.6 4.3 -3.3

Defense and space equipment -3.6 -6.0 4.9 -1.3 2.6 -5.4 -5.1 -2.8 1.2 .3

Construction supplies 2.2 -.2 4.1 6.5 .1 3.3 3.6 3.9 6.5 -2.2

Business supplies 1.8 .5 .7 3.7 -.3 1.9 2.4 1.0 2.3 -.2

Materials 5.6 2.2 5.7 3.5 2.9 2.9 3.6 6.6 5.6 -1.0

Non-energy 5.8 2.8 4.0 2.6 1.2 1.0 2.3 2.6 4.1 -.6

Durable 9.8 7.1 5.9 5.8 .4 .8 4.1 4.6 5.0 -1.3

Consumer parts 9.5 2.1 16.0 14.7 2.9 2.3 5.8 6.8 11.2 4.8

Equipment parts 17.1 11.9 9.2 8.9 -3.8 -1.4 3.1 3.0 5.1 -2.7

Other 4.9 5.2 .5 .7 2.6 1.8 4.2 5.0 2.7 -2.7

Nondurable .3 -3.2 1.3 -1.9 2.4 1.4 -.5 -.4 2.8 .5

Textile .1 -4.1 -8.8 .7 -3.5 9.4 4.0 -3.5 6.7 4.3

Paper -1.2 -1.4 1.1 1.8 .5 .9 -3.6 -2.4 -1.2 .1

Chemical -.1 -4.6 2.3 -4.5 4.2 .7 -.6 .4 4.5 .2

Energy 5.2 1.5 8.4 5.0 5.5 5.7 5.4 12.2 7.6 -1.8

INDUSTRY GROUPS

Manufacturing23.2 1.3 4.2 3.0 .2 1.0 1.6 3.3 3.6 .4

Manufacturing (NAICS) 31–33 3.5 1.5 4.2 3.3 .5 1.1 1.7 3.6 4.2 .5

Durable manufacturing 6.9 3.5 7.3 7.2 .2 .9 3.1 5.0 5.1 -.3

Wood products 321 -4.8 -.4 2.5 10.6 5.1 2.5 8.2 1.5 7.1 -6.0

Nonmetallic mineral products 327 3.6 -.5 -.3 4.6 3.2 4.9 2.3 5.1 5.3 1.5

Primary metals 331 2.9 8.6 4.4 -7.1 -1.9 5.3 5.7 2.2 .2 -10.3

Fabricated metal products 332 10.9 5.7 2.6 4.3 -1.4 1.3 4.5 2.8 2.0 -.4

Machinery 333 15.8 7.0 13.1 12.5 -7.0 -6.9 -.2 9.1 7.2 -5.2

Computer and electronic products 334 9.2 5.7 7.1 11.5 1.4 -3.6 2.8 3.5 3.6 -1.7

Selected high-technology industries 14.7 10.2 5.8 14.5 5.2 .3 4.8 1.2 2.1 -4.0

Computers and peripheral equipment 3341 -25.0 -12.4 15.4 46.6 -.8 -6.7 5.4 1.5 19.8 6.9

Communications equipment 3342 7.8 11.3 -3.3 -8.2 15.6 25.9 2.5 -19.1 -1.5 1.9

Semiconductors and related

electronic components 3344 26.7 14.0 6.7 15.6 4.1 -4.7 5.4 8.7 -.3 -7.6

Electrical equip., appliances,

and components 335 10.9 .2 2.9 3.4 1.1 -2.8 1.4 2.8 2.4 4.8

Motor vehicles and parts 3361–3 9.5 2.4 20.7 12.1 .7 9.9 10.5 9.7 9.8 8.5

Aerospace and miscellaneous

transportation equipment 3364–9 -4.0 -1.7 15.2 7.7 8.7 2.2 -4.3 1.7 4.2 4.0

Furniture and related products 337 3.2 3.3 -.5 10.9 1.9 5.3 1.0 8.1 10.4 -2.1

Miscellaneous 339 1.3 -1.5 -6.8 .3 -.2 4.7 6.4 5.8 5.8 -2.5

Nondurable manufacturing -.2 -.5 .9 -.8 .8 1.3 .1 2.1 3.1 1.4

Food, beverage, and tobacco products 311,2 1.8 -.8 -1.1 .3 1.8 1.9 1.0 .5 .9 1.6

Textile and product mills 313,4 -.9 -.5 -7.4 -1.7 -2.4 6.9 4.1 -1.4 4.9 .9

Apparel and leather 315,6 6.1 -4.4 -7.3 -2.9 -11.3 -6.0 4.9 .6 .2 -4.4

Paper 322 -2.0 -.7 3.5 3.2 2.0 .8 -4.7 -1.5 -.3 -.5

Printing and support 323 .5 -3.3 -3.8 1.8 -2.8 2.7 3.4 -1.7 2.1 .6

Petroleum and coal products 324 -.2 .9 4.8 -4.1 3.2 8.1 3.2 1.3 -1.1 5.5

Chemicals 325 -1.7 -.3 1.8 -3.6 -.8 -1.7 -2.1 2.9 6.1 .9

Plastics and rubber products 326 -.2 .2 2.6 6.9 2.8 1.1 3.1 11.4 8.1 1.5

Other manufacturing (non-NAICS) 1133,5111 -2.4 -5.1 4.3 -5.5 -7.5 -1.6 -1.5 -5.0 -12.0 -2.9

Mining 21 6.8 5.2 9.1 4.2 8.2 5.5 6.2 16.6 8.1 -8.2

Utilities 2211,2 3.1 -1.5 -3.0 1.8 -1.6 3.8 5.4 -4.7 2.9 -.8

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.

26
Table 8

CAPACITY UTILIZATION RATES, BY INDUSTRY GROUPS, 2010 Q4–2015 Q2

Percent of capacity, seasonally adjusted

NAICS 2010 2011 2012 2013 2014 2015

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

Total industry 75.3 75.9 76.7 76.9 76.5 76.6 77.0 78.0 78.8 77.8

Manufacturing172.5 73.3 74.4 74.7 74.1 73.9 74.2 75.1 76.2 75.9

Manufacturing (NAICS) 31–33 72.8 73.6 74.7 75.2 74.6 74.5 74.7 75.7 77.0 76.7

Durable manufacturing 70.9 71.7 73.2 74.9 74.2 73.9 74.4 75.6 76.9 76.1

Wood products 321 56.9 58.5 60.7 64.5 66.3 67.3 70.1 70.3 71.9 68.9

Nonmetallic mineral products 327 51.5 52.6 53.3 54.7 55.8 57.8 59.0 60.8 62.5 63.0

Primary metals 331 71.6 74.1 76.1 75.5 76.1 76.3 76.0 76.8 77.8 73.6

Fabricated metal products 332 75.3 77.7 78.2 78.8 77.2 77.6 79.5 80.7 81.5 81.4

Machinery 333 74.0 75.2 78.5 82.5 79.2 75.5 74.0 76.0 78.0 75.5

Computer and electronic products 334 78.8 76.9 74.1 74.3 73.2 71.7 73.0 74.1 74.1 71.7

Selected high-technology industries 82.8 79.2 71.9 70.3 69.4 69.2 71.5 72.3 72.0 68.8

Computers and peripheral equipment 3341 90.9 79.3 73.5 75.5 67.1 62.4 64.1 63.2 66.4 66.4

Communications equipment 3342 79.2 79.5 74.1 70.0 76.2 85.8 85.9 76.2 74.1 73.0

Semiconductors and related

electronic components 3344 82.7 79.1 71.1 69.5 68.1 66.3 69.2 73.3 72.9 68.3

Electrical equip., appliances,

and components 335 77.4 78.6 80.4 81.6 81.7 80.5 81.1 82.1 83.0 85.1

Motor vehicles and parts 3361–3 60.6 61.1 67.0 70.4 69.4 71.1 73.0 74.6 76.5 78.3

Aerospace and miscellaneous

transportation equipment 3364–9 72.0 70.2 74.2 76.2 78.7 78.7 76.5 76.9 78.3 79.6

Furniture and related products 337 63.4 65.7 66.4 69.7 69.8 71.6 72.2 75.1 78.9 78.0

Miscellaneous 339 78.1 78.9 76.8 76.9 76.0 76.5 77.4 78.0 78.9 76.6

Nondurable manufacturing 75.0 75.8 76.4 75.5 75.0 75.1 75.1 75.9 77.0 77.3

Food, beverage, and tobacco products 311,2 76.7 77.4 77.6 77.8 78.2 78.7 79.0 78.9 79.1 79.4

Textile and product mills 313,4 65.6 66.9 65.6 66.0 66.1 69.0 71.1 71.1 73.2 73.7

Apparel and leather 315,6 68.5 67.9 66.1 66.1 63.0 61.8 64.0 64.9 65.7 65.0

Paper 322 81.3 80.7 81.7 82.8 83.6 84.0 82.5 82.9 83.5 83.6

Printing and support 323 65.0 63.9 62.2 62.8 62.0 62.5 63.2 62.6 63.3 63.1

Petroleum and coal products 324 82.0 82.6 83.7 81.0 81.0 82.3 82.3 83.1 83.4 85.5

Chemicals 325 73.3 74.7 75.7 73.2 71.5 70.4 70.1 71.5 73.7 73.8

Plastics and rubber products 326 72.2 72.7 73.6 75.6 76.0 75.8 76.0 78.8 80.7 80.7

Other manufacturing (non-NAICS) 1133,5111 67.3 65.7 67.1 65.1 62.7 62.5 62.5 61.6 58.5 58.3

Mining 21 86.2 86.8 88.4 87.8 88.8 88.7 88.3 91.1 90.7 84.7

Utilities 2211,2 82.5 81.2 79.2 79.3 78.4 79.8 81.7 79.4 80.0 79.3

1. See footnote 2 to table 3.

27
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)

1985 -.3 -.3 .8 -.4 .2 .2 -.6 .6 .1 -.3 .6 .4 .2 .7 .1 2.2 1.6

1986 1.1 -.5 -.3 .4 .2 -.3 .4 .3 .2 .4 .5 .9 4.6 -.1 2.3 5.1 2.2

1987 -.3 1.4 .1 .6 .7 .3 .8 .6 .5 1.6 .6 .6 5.9 7.0 7.6 11.5 5.7

1988 -.2 .2 .3 .9 -.2 .2 .0 .1 .4 .5 .2 .5 2.8 4.4 .8 4.4 5.4

1989 .8 -1.0 -.1 .2 -.9 .2 -1.1 .8 -.3 -.2 .2 .1 2.1 -2.8 -3.2 .4 .8

1990 -.2 1.5 .5 -.2 .1 .3 -.1 .3 .0 -.8 -1.1 -.7 4.3 3.1 1.1 -6.7 .8

1991 -.8 -.6 -.7 .3 .7 1.1 .3 .2 1.1 -.2 -.2 -.2 -8.8 1.9 7.2 1.6 -1.9

1992 -.6 .9 1.0 .6 .6 .3 .9 -.4 .0 .7 .4 -.1 .5 8.4 4.1 3.2 3.7

1993 1.0 .2 -.2 .5 -.1 -.2 .3 -.2 .6 .9 .4 .6 4.5 1.4 .8 6.9 3.5

1994 .2 .1 1.3 .8 .7 .3 .4 .8 .5 1.0 .8 1.1 4.8 9.5 6.2 10.4 5.9

1995 .2 -.2 .3 -.1 .1 .5 -.6 1.1 .9 -.1 .1 .4 4.7 .9 3.1 4.4 5.3

1996 -.8 1.6 -.2 1.1 .8 1.0 .2 .5 .8 -.2 .9 .9 1.9 9.9 7.5 5.9 4.9

1997 .1 1.4 1.1 -.2 .8 .7 .7 1.3 .9 .9 1.1 .4 9.4 7.5 10.8 11.7 8.5

1998 .9 .1 -.1 .5 .5 -.8 -.4 2.4 -.2 1.0 .2 .5 6.3 2.2 3.1 7.9 6.8

1999 .3 .8 -.1 .4 .9 -.3 .5 .6 -.4 1.5 .6 .7 4.9 4.4 3.4 9.0 5.0

2000 .1 .2 .7 .8 -.1 .2 .1 -.7 .4 -.3 -.3 -.6 4.8 5.2 -.4 -2.6 4.3

2001 -.6 -.6 -.3 -.3 -.8 -.7 -.5 -.5 -.2 -.6 -.3 .3 -6.4 -5.6 -6.2 -4.1 -3.9

2002 .5 .0 .8 .2 .5 1.1 -.3 .2 .1 -.4 .5 -.5 3.5 5.8 3.2 -.3 .3

2003 .5 .1 .1 -.9 .1 .5 .2 -.5 .8 .1 1.0 -.2 1.8 -1.9 2.0 4.3 1.3

2004 -.1 .7 -.2 .4 .8 -.7 .9 .4 .0 1.0 -.1 .7 1.9 3.0 3.8 5.4 2.8

2005 .8 .8 -.5 .3 .4 .2 -.3 .4 -1.0 1.5 .8 .1 6.5 2.4 -.6 6.4 4.0

2006 .8 -.3 -.1 .6 -.4 .3 -.3 .6 .1 -.3 .1 1.5 3.8 .9 .8 1.7 2.6

2007 -.5 .4 .8 .7 -.1 .3 .1 -.3 .4 -.4 .5 .1 4.2 5.8 .7 .5 2.7

2008 -.4 -.6 -.3 -1.1 -.5 -.5 -1.1 -1.2 -3.4 -.6 -2.4 -3.4 -2.7 -7.6 -13.4 -21.4 -4.7

2009 -3.0 -.2 -1.9 -.8 -1.1 -.4 1.4 1.1 .8 .2 .9 -.2 -24.2 -11.3 7.7 7.2 -13.7

2010 1.1 -.1 1.2 .9 1.4 -.1 .7 .2 .1 .1 .0 .4 6.8 10.9 5.0 1.5 5.9

2011 .3 .0 .5 -.6 .2 .0 .7 .3 .4 .6 -.3 .7 2.9 -.4 4.6 3.8 3.0

2012 1.0 .3 -.6 .7 -.5 .1 .0 -.3 .0 -.2 .7 .7 5.5 .5 -1.0 1.3 2.7

2013 -.2 .4 -.3 -.3 .2 .2 -.8 .9 .2 .2 -.1 .0 2.5 -.5 .5 2.7 .9

2014 -.8 1.1 .7 .3 .2 .4 .7 -.4 .2 .3 .9 .0 .7 5.9 3.8 3.4 2.5

2015 -.3 -.3 .2 .3 .1 -.1 -.7 1.5

IP (2012=100)

1985 54.4 54.2 54.7 54.4 54.5 54.6 54.3 54.6 54.7 54.5 54.9 55.1 54.4 54.5 54.6 54.9 54.6

1986 55.7 55.4 55.3 55.5 55.6 55.4 55.6 55.8 55.9 56.1 56.4 56.9 55.5 55.5 55.8 56.5 55.8

1987 56.7 57.5 57.6 57.9 58.3 58.5 59.0 59.4 59.7 60.6 61.0 61.3 57.3 58.3 59.4 61.0 59.0

1988 61.3 61.4 61.6 62.1 62.0 62.1 62.1 62.1 62.4 62.7 62.8 63.1 61.4 62.1 62.2 62.9 62.1

1989 63.6 63.0 62.9 63.1 62.5 62.6 62.0 62.5 62.3 62.2 62.4 62.4 63.2 62.8 62.3 62.3 62.6

1990 62.3 63.2 63.5 63.3 63.4 63.6 63.5 63.7 63.7 63.2 62.5 62.0 63.0 63.5 63.6 62.6 63.2

1991 61.5 61.1 60.7 60.9 61.3 62.0 62.2 62.3 63.0 62.9 62.7 62.6 61.1 61.4 62.5 62.7 61.9

1992 62.2 62.8 63.4 63.8 64.2 64.3 64.9 64.7 64.7 65.1 65.4 65.3 62.8 64.1 64.8 65.3 64.2

1993 65.9 66.1 65.9 66.3 66.2 66.1 66.3 66.1 66.6 67.1 67.4 67.8 66.0 66.2 66.3 67.4 66.5

1994 67.9 68.0 68.9 69.4 69.9 70.1 70.4 70.9 71.3 72.0 72.6 73.4 68.2 69.8 70.9 72.7 70.4

1995 73.5 73.4 73.6 73.5 73.6 73.9 73.5 74.3 74.9 74.9 75.0 75.2 73.5 73.7 74.2 75.0 74.1

1996 74.6 75.8 75.7 76.5 77.1 77.9 78.1 78.5 79.2 79.0 79.7 80.4 75.4 77.2 78.6 79.7 77.7

1997 80.5 81.6 82.5 82.4 83.0 83.6 84.2 85.3 86.1 86.8 87.8 88.1 81.5 83.0 85.2 87.6 84.3

1998 88.9 89.0 88.9 89.3 89.8 89.1 88.7 90.9 90.7 91.5 91.7 92.2 88.9 89.4 90.1 91.8 90.1

1999 92.5 93.2 93.1 93.5 94.3 94.0 94.4 95.0 94.7 96.1 96.7 97.4 92.9 93.9 94.7 96.8 94.6

2000 97.5 97.7 98.4 99.2 99.1 99.3 99.4 98.7 99.1 98.8 98.5 97.9 97.9 99.2 99.1 98.4 98.6

2001 97.3 96.7 96.4 96.1 95.4 94.7 94.3 93.8 93.6 93.0 92.7 93.0 96.8 95.4 93.9 92.9 94.7

2002 93.5 93.5 94.2 94.4 94.9 95.9 95.6 95.8 96.0 95.6 96.0 95.6 93.7 95.1 95.8 95.7 95.1

2003 96.0 96.2 96.3 95.5 95.6 96.0 96.2 95.8 96.5 96.6 97.6 97.4 96.2 95.7 96.2 97.2 96.3

2004 97.3 97.9 97.8 98.1 98.9 98.2 99.0 99.5 99.4 100.4 100.4 101.0 97.7 98.4 99.3 100.6 99.0

2005 101.8 102.7 102.2 102.5 102.9 103.1 102.8 103.1 102.1 103.7 104.5 104.6 102.2 102.8 102.7 104.3 103.0

2006 105.5 105.2 105.1 105.7 105.2 105.5 105.3 105.9 106.0 105.6 105.7 107.2 105.3 105.5 105.7 106.2 105.7

2007 106.7 107.1 108.0 108.7 108.6 109.0 109.1 108.7 109.2 108.7 109.3 109.4 107.2 108.8 109.0 109.1 108.5

2008 108.9 108.3 107.9 106.8 106.3 105.7 104.5 103.3 99.8 99.2 96.8 93.5 108.4 106.3 102.5 96.5 103.4

2009 90.7 90.6 88.9 88.1 87.2 86.9 88.1 89.1 89.9 90.1 90.9 90.8 90.0 87.4 89.0 90.6 89.3

2010 91.8 91.7 92.8 93.6 95.0 94.9 95.5 95.7 95.8 95.9 95.9 96.3 92.1 94.5 95.7 96.0 94.6

2011 96.5 96.5 97.1 96.5 96.7 96.7 97.4 97.7 98.0 98.6 98.3 99.0 96.7 96.6 97.7 98.6 97.4

2012 100.0 100.2 99.7 100.3 99.9 100.0 100.0 99.7 99.7 99.5 100.2 100.8 100.0 100.1 99.8 100.2 100.0

2013 100.6 101.0 100.7 100.5 100.7 100.8 100.1 101.0 101.2 101.5 101.4 101.4 100.8 100.6 100.8 101.4 100.9

2014 100.6 101.7 102.5 102.8 103.0 103.5 104.2 103.9 104.1 104.3 105.2 105.2 101.6 103.1 104.1 104.9 103.4

2015 104.9 104.6 104.7 105.1 105.2 105.1 104.7 105.1

NOTE: Estimates from February 2015 through June 2015 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.

28
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

2012 output)

1985 68.9 69.1 69.3 69.5 69.7 69.9 70.1 70.2 70.4 70.5 70.6 70.7 69.1 69.7 70.2 70.6 69.9

1986 70.8 70.8 70.9 71.0 71.0 71.1 71.2 71.2 71.3 71.5 71.6 71.7 70.8 71.0 71.2 71.6 71.2

1987 71.9 72.1 72.2 72.4 72.6 72.8 73.0 73.2 73.3 73.4 73.6 73.7 72.1 72.6 73.1 73.6 72.8

1988 73.7 73.8 73.9 73.9 73.9 74.0 74.0 74.0 74.1 74.1 74.2 74.3 73.8 73.9 74.0 74.2 74.0

1989 74.4 74.5 74.6 74.8 74.9 75.1 75.3 75.4 75.6 75.8 76.0 76.2 74.5 74.9 75.4 76.0 75.2

1990 76.4 76.6 76.8 77.0 77.2 77.3 77.5 77.7 77.8 78.0 78.1 78.2 76.6 77.2 77.7 78.1 77.4

1991 78.3 78.4 78.5 78.6 78.7 78.8 78.9 79.0 79.1 79.2 79.4 79.5 78.4 78.7 79.0 79.4 78.9

1992 79.7 79.8 80.0 80.2 80.4 80.6 80.8 81.0 81.2 81.4 81.6 81.7 79.8 80.4 81.0 81.6 80.7

1993 81.9 82.0 82.2 82.3 82.4 82.6 82.7 82.8 83.0 83.1 83.3 83.4 82.0 82.4 82.8 83.3 82.6

1994 83.6 83.8 84.1 84.3 84.6 84.8 85.1 85.4 85.7 86.1 86.4 86.7 83.8 84.6 85.4 86.4 85.1

1995 87.1 87.4 87.8 88.1 88.5 88.9 89.2 89.6 90.1 90.5 90.9 91.4 87.4 88.5 89.7 90.9 89.1

1996 91.9 92.3 92.8 93.3 93.8 94.4 94.9 95.4 95.9 96.4 97.0 97.5 92.4 93.8 95.4 97.0 94.6

1997 98.1 98.7 99.3 99.9 100.5 101.1 101.8 102.5 103.3 104.0 104.8 105.6 98.7 100.5 102.5 104.8 101.6

1998 106.4 107.2 108.0 108.8 109.6 110.3 111.1 111.7 112.4 113.0 113.6 114.2 107.2 109.6 111.7 113.6 110.5

1999 114.8 115.4 115.9 116.4 116.9 117.5 118.0 118.5 119.0 119.5 120.1 120.6 115.3 116.9 118.5 120.1 117.7

2000 121.1 121.6 122.2 122.7 123.2 123.7 124.2 124.6 125.1 125.6 126.0 126.4 121.6 123.2 124.6 126.0 123.9

2001 126.9 127.2 127.6 128.0 128.3 128.6 128.9 129.1 129.4 129.6 129.7 129.9 127.2 128.3 129.1 129.7 128.6

2002 130.0 130.1 130.2 130.2 130.3 130.3 130.3 130.3 130.3 130.3 130.3 130.3 130.1 130.3 130.3 130.3 130.2

2003 130.3 130.3 130.3 130.3 130.3 130.2 130.2 130.1 130.1 130.0 130.0 129.9 130.3 130.2 130.1 130.0 130.2

2004 129.8 129.7 129.7 129.6 129.5 129.5 129.5 129.5 129.5 129.6 129.7 129.9 129.7 129.5 129.5 129.7 129.6

2005 130.1 130.3 130.5 130.8 131.1 131.4 131.7 132.0 132.3 132.5 132.8 133.0 130.3 131.1 132.0 132.8 131.5

2006 133.2 133.5 133.6 133.8 134.0 134.2 134.4 134.6 134.8 135.1 135.4 135.7 133.4 134.0 134.6 135.4 134.4

2007 136.0 136.3 136.6 137.0 137.3 137.7 138.0 138.3 138.5 138.7 138.8 138.9 136.3 137.3 138.2 138.8 137.7

2008 139.0 138.9 138.9 138.8 138.6 138.4 138.3 138.1 137.9 137.7 137.5 137.2 138.9 138.6 138.1 137.5 138.3

2009 137.0 136.8 136.6 136.4 136.2 136.0 135.8 135.6 135.4 135.2 135.0 134.8 136.8 136.2 135.6 135.0 135.9

2010 134.6 134.3 134.1 133.9 133.6 133.4 133.2 132.9 132.7 132.5 132.4 132.2 134.3 133.6 132.9 132.4 133.3

2011 132.1 132.0 131.9 131.9 131.9 131.9 132.0 132.1 132.3 132.4 132.6 132.8 132.0 131.9 132.1 132.6 132.2

2012 133.0 133.2 133.5 133.7 133.9 134.2 134.4 134.6 134.8 135.0 135.2 135.4 133.2 133.9 134.6 135.2 134.2

2013 135.5 135.7 135.9 136.0 136.1 136.2 136.3 136.4 136.5 136.6 136.7 136.8 135.7 136.1 136.4 136.7 136.2

2014 136.9 137.0 137.1 137.1 137.2 137.3 137.4 137.4 137.5 137.6 137.7 137.8 137.0 137.2 137.4 137.7 137.3

2015 137.9 138.1 138.2 138.3 138.5 138.6 138.1 138.5

Utilization

(percent)

1985 78.9 78.4 78.8 78.3 78.2 78.2 77.5 77.8 77.7 77.4 77.8 78.0 78.7 78.2 77.7 77.7 78.1

1986 78.8 78.3 78.0 78.2 78.2 77.9 78.2 78.3 78.4 78.6 78.8 79.3 78.3 78.1 78.3 78.9 78.4

1987 78.9 79.9 79.7 80.0 80.3 80.4 80.8 81.2 81.4 82.5 82.9 83.3 79.5 80.2 81.1 82.9 80.9

1988 83.1 83.2 83.4 84.0 83.9 84.0 83.9 83.9 84.2 84.6 84.7 85.0 83.2 84.0 84.0 84.7 84.0

1989 85.6 84.6 84.4 84.4 83.5 83.4 82.3 82.8 82.4 82.1 82.0 81.9 84.8 83.8 82.5 82.0 83.3

1990 81.5 82.5 82.7 82.3 82.2 82.2 82.0 82.0 81.8 81.0 80.0 79.3 82.2 82.2 81.9 80.1 81.6

1991 78.6 78.0 77.3 77.5 77.9 78.7 78.8 78.9 79.6 79.3 79.1 78.8 78.0 78.0 79.1 79.1 78.5

1992 78.1 78.7 79.3 79.5 79.8 79.8 80.3 79.8 79.7 80.0 80.2 79.9 78.7 79.7 79.9 80.0 79.6

1993 80.5 80.5 80.2 80.5 80.3 80.1 80.2 79.9 80.2 80.8 81.0 81.2 80.4 80.3 80.1 81.0 80.5

1994 81.2 81.1 81.9 82.4 82.7 82.6 82.7 83.0 83.2 83.7 84.0 84.6 81.4 82.6 83.0 84.1 82.8

1995 84.5 83.9 83.8 83.4 83.2 83.2 82.3 82.9 83.2 82.8 82.4 82.3 84.1 83.2 82.8 82.5 83.2

1996 81.3 82.1 81.5 82.0 82.2 82.5 82.3 82.3 82.5 81.9 82.2 82.4 81.6 82.2 82.4 82.2 82.1

1997 82.0 82.7 83.1 82.5 82.6 82.7 82.7 83.2 83.3 83.5 83.7 83.5 82.6 82.6 83.1 83.6 83.0

1998 83.5 83.0 82.3 82.1 81.9 80.7 79.9 81.3 80.7 81.0 80.7 80.7 82.9 81.6 80.6 80.8 81.5

1999 80.5 80.8 80.3 80.3 80.7 80.0 80.0 80.2 79.6 80.4 80.6 80.8 80.6 80.3 79.9 80.6 80.3

2000 80.5 80.4 80.6 80.8 80.4 80.3 80.1 79.2 79.2 78.7 78.2 77.4 80.5 80.5 79.5 78.1 79.6

2001 76.7 76.0 75.5 75.1 74.3 73.6 73.1 72.6 72.3 71.8 71.5 71.6 76.1 74.4 72.7 71.6 73.7

2002 71.9 71.9 72.4 72.5 72.8 73.6 73.4 73.5 73.6 73.3 73.7 73.3 72.0 73.0 73.5 73.5 73.0

2003 73.7 73.8 73.9 73.3 73.4 73.8 73.9 73.6 74.2 74.3 75.1 75.0 73.8 73.5 73.9 74.8 74.0

2004 74.9 75.5 75.4 75.7 76.3 75.8 76.5 76.8 76.8 77.5 77.4 77.8 75.3 76.0 76.7 77.6 76.4

2005 78.3 78.8 78.3 78.4 78.5 78.5 78.0 78.1 77.2 78.3 78.7 78.6 78.5 78.4 77.8 78.5 78.3

2006 79.2 78.8 78.6 79.0 78.5 78.7 78.3 78.7 78.6 78.2 78.1 79.0 78.9 78.7 78.5 78.4 78.6

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

2008 78.4 77.9 77.7 76.9 76.7 76.3 75.6 74.8 72.4 72.0 70.5 68.1 78.0 76.7 74.2 70.2 74.8

2009 66.2 66.2 65.0 64.6 64.0 63.9 64.9 65.7 66.4 66.6 67.4 67.4 65.8 64.2 65.7 67.1 65.7

2010 68.2 68.3 69.2 69.9 71.1 71.1 71.7 72.0 72.1 72.4 72.4 72.8 68.6 70.7 72.0 72.5 70.9

2011 73.1 73.2 73.6 73.2 73.3 73.3 73.8 73.9 74.1 74.5 74.1 74.5 73.3 73.3 73.9 74.4 73.7

2012 75.1 75.2 74.7 75.0 74.6 74.5 74.4 74.1 74.0 73.7 74.1 74.5 75.0 74.7 74.2 74.1 74.5

2013 74.2 74.4 74.1 73.9 73.9 74.0 73.4 74.0 74.1 74.2 74.2 74.1 74.3 73.9 73.8 74.2 74.1

2014 73.5 74.3 74.8 75.0 75.1 75.4 75.9 75.6 75.7 75.8 76.4 76.3 74.2 75.1 75.7 76.2 75.3

2015 76.1 75.7 75.8 76.0 76.0 75.8 75.9 75.9

NOTE: Estimates from February 2015 through June 2015 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

29
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)

1985 -.3 .5 .2 -.1 .1 .0 -.6 .4 .5 -.4 .3 1.1 1.0 .9 -.2 2.5 1.0

1986 .5 -.7 -.7 .1 .1 -.2 .2 -.2 .1 .4 .4 .8 2.4 -2.5 .4 4.0 .9

1987 -.5 1.2 .2 .5 .6 .4 .6 .7 .1 1.4 .5 .4 4.4 6.3 6.3 9.0 4.3

1988 .1 .4 .2 .5 -.2 .2 .0 .4 -.3 .4 .2 .5 3.3 2.6 1.0 2.6 4.4

1989 .3 -.5 .3 .0 -.7 .0 -1.1 .8 -.3 -.2 .3 .6 2.1 -1.6 -3.5 .9 .6

1990 -.7 .9 .5 -.1 .1 .3 -.1 .3 .1 -.8 -1.3 -.7 2.1 2.7 1.3 -6.7 .4

1991 -.4 -.8 -.6 .2 .9 .9 .0 .0 .9 -.2 -.2 -.6 -8.0 1.9 5.4 .4 -2.0

1992 -.8 .7 .8 .6 .3 -.1 .8 -.6 .1 .6 .3 .1 -1.9 6.2 1.9 3.0 1.9

1993 .4 .4 -.2 .3 -.4 .2 .3 -.2 .4 .7 .3 .5 3.2 .2 1.3 5.3 2.5

1994 .3 .0 .9 .3 .4 .6 .0 .3 .1 .6 .4 .9 4.2 5.4 3.1 5.7 4.0

1995 .1 -.2 -.1 -.3 .1 .2 -.5 1.1 .1 -.4 .1 .1 2.8 -1.2 1.3 .4 2.4

1996 -1.0 1.3 -.3 .8 .5 .6 -.5 .3 .5 -.4 .8 .5 -.5 6.6 2.0 3.0 1.7

1997 -.1 .9 .4 -.2 .3 .2 .5 .8 .7 .7 .6 .1 5.2 2.5 6.3 7.7 4.2

1998 .3 .0 .0 .2 .6 -1.0 -.7 1.9 -.6 .6 -.3 .1 2.1 .7 -.4 2.4 3.1

1999 .1 .2 -.1 -.1 .5 -.5 .3 .4 -.5 1.2 .2 .5 .6 .3 .9 5.5 1.1

2000 -.3 .0 .1 .5 -.1 -.1 -.4 -.5 .3 -.4 -.1 -.5 .5 1.8 -3.1 -2.6 1.0

2001 -.7 -.6 -.3 -.1 -.6 -.5 -.3 -.2 -.4 -.5 -.5 -.1 -5.8 -4.4 -4.4 -4.5 -3.9

2002 .7 -.1 .8 .4 .4 .9 -.3 -.1 .1 -.3 .5 -.6 2.7 6.3 1.9 -.7 .3

2003 .6 .1 -.3 -.9 -.1 -.1 .3 -.3 .5 .0 .8 -.1 1.5 -4.6 .7 2.8 .2

2004 .1 .6 -.6 .4 .8 -.8 .8 .0 .0 .9 .2 .7 1.9 2.0 2.1 5.2 1.7

2005 .4 .6 -.2 .0 .1 .4 -.4 .1 -2.1 1.2 1.0 .6 4.8 1.3 -3.1 2.5 2.5

2006 .1 -.1 .2 .4 -.2 .3 -.1 .3 -.3 -.1 -.2 1.0 3.2 1.8 .6 .3 1.4

2007 -.5 1.0 -.1 .6 .1 .1 .0 .1 .3 -.7 .4 -.1 3.0 4.0 1.0 -1.0 1.8

2008 -.3 -.4 -.4 -.8 -.5 -.2 -.5 -1.5 -4.4 1.2 -1.0 -2.7 -2.6 -6.4 -12.3 -14.7 -4.2

2009 -2.3 -.7 -1.7 -.9 -1.1 -.4 1.1 1.1 .7 .4 .2 .3 -20.0 -11.9 5.7 6.1 -11.3

2010 1.1 .2 .6 .3 1.5 .2 .5 .3 .2 -.3 .0 .8 7.0 7.7 5.8 .8 5.0

2011 -.1 -.5 .9 -.4 .2 .2 .4 .6 .0 .7 -.2 .5 1.5 .9 4.2 3.9 2.7

2012 .8 .2 -.7 .8 .1 -.1 .3 -.4 .0 .2 .5 .2 3.6 1.7 .0 2.0 2.6

2013 .1 .4 .2 .0 -.1 .2 -.4 .8 .6 .0 .3 .3 3.1 1.0 1.6 3.7 1.9

2014 -.2 .8 .8 .2 .3 .5 .4 .0 .5 .1 .9 .1 3.8 5.7 4.0 4.7 3.8

2015 -.3 -.1 -.1 -.3 -.2 .2 -.1 -1.7

IP (2012=100)

1985 75.2 75.6 75.7 75.6 75.7 75.7 75.3 75.6 76.0 75.7 75.9 76.7 75.5 75.7 75.7 76.1 75.7

1986 77.1 76.6 76.0 76.1 76.2 76.0 76.2 76.1 76.2 76.5 76.8 77.4 76.6 76.1 76.2 76.9 76.4

1987 77.1 78.0 78.2 78.6 79.0 79.3 79.8 80.3 80.4 81.6 82.0 82.3 77.8 79.0 80.2 81.9 79.7

1988 82.3 82.7 82.8 83.2 83.0 83.2 83.2 83.6 83.3 83.7 83.8 84.2 82.6 83.1 83.3 83.9 83.2

1989 84.5 84.1 84.4 84.4 83.8 83.8 82.9 83.6 83.3 83.1 83.3 83.8 84.3 84.0 83.2 83.4 83.7

1990 83.2 84.0 84.4 84.3 84.4 84.6 84.5 84.7 84.8 84.1 83.1 82.5 83.8 84.4 84.7 83.2 84.0

1991 82.1 81.5 80.9 81.1 81.9 82.7 82.7 82.7 83.5 83.3 83.2 82.7 81.5 81.9 83.0 83.1 82.4

1992 82.1 82.6 83.3 83.8 84.0 83.9 84.6 84.1 84.2 84.7 85.0 85.1 82.7 83.9 84.3 84.9 83.9

1993 85.4 85.7 85.6 85.8 85.5 85.6 85.9 85.7 86.1 86.7 87.0 87.4 85.6 85.6 85.9 87.0 86.0

1994 87.7 87.7 88.4 88.7 89.0 89.5 89.5 89.9 89.9 90.5 90.9 91.7 87.9 89.1 89.8 91.0 89.5

1995 91.9 91.6 91.5 91.3 91.4 91.5 91.0 92.0 92.1 91.7 91.8 91.9 91.7 91.4 91.7 91.8 91.6

1996 91.0 92.2 91.9 92.6 93.1 93.7 93.2 93.6 94.0 93.7 94.4 94.9 91.7 93.2 93.6 94.3 93.2

1997 94.8 95.7 96.1 95.8 96.1 96.3 96.9 97.6 98.2 99.0 99.6 99.7 95.5 96.1 97.6 99.4 97.1

1998 99.9 99.9 99.9 100.0 100.6 99.6 98.9 100.8 100.2 100.8 100.5 100.5 99.9 100.1 100.0 100.6 100.2

1999 100.7 100.8 100.7 100.6 101.2 100.7 101.0 101.4 100.9 102.1 102.3 102.9 100.8 100.8 101.1 102.4 101.3

2000 102.5 102.5 102.6 103.1 103.0 102.9 102.5 101.9 102.2 101.8 101.6 101.2 102.6 103.0 102.2 101.5 102.3

2001 100.5 99.9 99.6 99.5 98.9 98.3 98.0 97.9 97.5 97.0 96.6 96.5 100.0 98.9 97.8 96.7 98.4

2002 97.2 97.0 97.8 98.2 98.6 99.6 99.3 99.2 99.3 99.0 99.4 98.9 97.3 98.8 99.3 99.1 98.6

2003 99.5 99.6 99.3 98.4 98.3 98.2 98.5 98.2 98.7 98.7 99.4 99.3 99.4 98.3 98.4 99.1 98.8

2004 99.4 100.0 99.4 99.8 100.6 99.8 100.6 100.6 100.6 101.5 101.7 102.4 99.6 100.1 100.6 101.9 100.5

2005 102.7 103.3 103.1 103.2 103.3 103.7 103.3 103.4 101.1 102.4 103.4 104.0 103.1 103.4 102.6 103.2 103.1

2006 104.0 103.9 104.2 104.6 104.3 104.7 104.6 104.9 104.6 104.5 104.4 105.4 104.1 104.5 104.7 104.8 104.5

2007 104.8 105.9 105.9 106.5 106.6 106.7 106.7 106.8 107.1 106.3 106.8 106.6 105.5 106.6 106.8 106.6 106.4

2008 106.3 105.9 105.5 104.6 104.0 103.8 103.3 101.8 97.3 98.4 97.4 94.8 105.9 104.1 100.8 96.9 101.9

2009 92.5 91.9 90.4 89.5 88.6 88.2 89.1 90.1 90.8 91.1 91.3 91.6 91.6 88.8 90.0 91.3 90.4

2010 92.6 92.7 93.3 93.6 95.0 95.2 95.7 96.0 96.2 95.9 95.9 96.7 92.9 94.6 96.0 96.2 94.9

2011 96.6 96.1 96.9 96.5 96.8 97.0 97.4 97.9 97.9 98.6 98.5 98.9 96.5 96.7 97.7 98.7 97.4

2012 99.7 99.9 99.1 100.0 100.0 99.9 100.2 99.8 99.9 100.1 100.6 100.8 99.6 100.0 100.0 100.5 100.0

2013 100.9 101.3 101.5 101.5 101.4 101.6 101.2 102.0 102.6 102.6 102.8 103.1 101.3 101.5 101.9 102.8 101.9

2014 103.0 103.8 104.6 104.8 105.2 105.7 106.1 106.1 106.7 106.8 107.8 107.9 103.8 105.2 106.3 107.5 105.7

2015 107.6 107.5 107.4 107.0 106.9 107.1 107.5 107.0

NOTE: Estimates from February 2015 through June 2015 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.

30
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

2012 output)

1985 94.6 94.8 95.0 95.1 95.3 95.5 95.6 95.8 95.9 96.0 96.2 96.3 94.8 95.3 95.8 96.2 95.5

1986 96.4 96.5 96.5 96.6 96.7 96.8 96.9 96.9 97.0 97.1 97.2 97.3 96.5 96.7 96.9 97.2 96.8

1987 97.4 97.5 97.6 97.7 97.8 97.9 98.0 98.1 98.2 98.2 98.3 98.3 97.5 97.8 98.1 98.3 97.9

1988 98.4 98.4 98.4 98.4 98.4 98.4 98.4 98.4 98.5 98.5 98.6 98.7 98.4 98.4 98.5 98.6 98.5

1989 98.8 98.9 99.0 99.1 99.3 99.4 99.6 99.8 100.0 100.1 100.3 100.5 98.9 99.3 99.8 100.3 99.6

1990 100.7 100.8 101.0 101.2 101.3 101.5 101.6 101.7 101.9 102.0 102.1 102.2 100.8 101.3 101.7 102.1 101.5

1991 102.4 102.5 102.6 102.7 102.8 102.9 103.0 103.1 103.2 103.3 103.4 103.5 102.5 102.8 103.1 103.4 102.9

1992 103.6 103.7 103.8 103.9 104.0 104.1 104.2 104.3 104.5 104.6 104.7 104.8 103.7 104.0 104.3 104.7 104.2

1993 104.9 105.0 105.1 105.2 105.3 105.4 105.5 105.6 105.7 105.8 106.0 106.1 105.0 105.3 105.6 106.0 105.5

1994 106.2 106.3 106.5 106.6 106.7 106.9 107.1 107.2 107.4 107.6 107.8 108.0 106.3 106.8 107.2 107.8 107.0

1995 108.2 108.4 108.6 108.8 109.0 109.2 109.4 109.6 109.8 110.0 110.2 110.4 108.4 109.0 109.6 110.2 109.3

1996 110.6 110.8 111.0 111.2 111.4 111.6 111.8 112.0 112.3 112.5 112.8 113.1 110.8 111.4 112.0 112.8 111.8

1997 113.4 113.7 114.1 114.4 114.8 115.2 115.6 116.1 116.5 116.9 117.4 117.8 113.8 114.8 116.1 117.4 115.5

1998 118.3 118.7 119.2 119.6 120.1 120.5 120.9 121.3 121.7 122.1 122.4 122.8 118.7 120.1 121.3 122.4 120.6

1999 123.1 123.4 123.7 124.0 124.2 124.5 124.7 125.0 125.2 125.4 125.6 125.7 123.4 124.2 125.0 125.6 124.5

2000 125.9 126.1 126.2 126.4 126.5 126.7 126.8 126.9 127.1 127.2 127.3 127.5 126.1 126.5 126.9 127.3 126.7

2001 127.6 127.8 127.9 128.1 128.2 128.4 128.5 128.7 128.8 129.0 129.1 129.2 127.8 128.2 128.7 129.1 128.4

2002 129.3 129.4 129.5 129.6 129.6 129.6 129.6 129.6 129.5 129.4 129.3 129.2 129.4 129.6 129.5 129.3 129.5

2003 129.1 129.0 128.9 128.8 128.7 128.6 128.5 128.4 128.4 128.3 128.3 128.2 129.0 128.7 128.5 128.3 128.6

2004 128.2 128.1 128.1 128.1 128.0 128.0 127.9 127.9 127.9 127.8 127.8 127.8 128.1 128.0 127.9 127.8 128.0

2005 127.8 127.9 127.9 128.0 128.1 128.2 128.3 128.4 128.5 128.7 128.8 129.0 127.9 128.1 128.4 128.8 128.3

2006 129.2 129.3 129.5 129.7 129.9 130.1 130.3 130.5 130.6 130.8 131.0 131.2 129.3 129.9 130.5 131.0 130.2

2007 131.3 131.5 131.6 131.7 131.7 131.8 131.8 131.8 131.7 131.6 131.5 131.5 131.4 131.7 131.7 131.5 131.6

2008 131.4 131.3 131.2 131.2 131.1 131.2 131.2 131.3 131.5 131.6 131.8 131.9 131.3 131.2 131.3 131.8 131.4

2009 132.1 132.2 132.3 132.3 132.3 132.3 132.2 132.0 131.8 131.6 131.3 131.0 132.2 132.3 132.0 131.3 131.9

2010 130.7 130.4 130.1 129.8 129.5 129.2 128.9 128.7 128.5 128.3 128.1 128.0 130.4 129.5 128.7 128.1 129.2

2011 127.9 127.8 127.7 127.7 127.7 127.7 127.8 127.9 128.0 128.2 128.3 128.5 127.8 127.7 127.9 128.3 127.9

2012 128.7 128.9 129.2 129.4 129.6 129.9 130.1 130.3 130.5 130.7 130.9 131.1 128.9 129.6 130.3 130.9 129.9

2013 131.3 131.5 131.7 131.9 132.0 132.2 132.4 132.6 132.8 133.0 133.2 133.4 131.5 132.0 132.6 133.2 132.3

2014 133.7 133.9 134.2 134.4 134.7 134.9 135.2 135.4 135.6 135.8 136.0 136.2 133.9 134.7 135.4 136.0 135.0

2015 136.4 136.6 136.7 136.9 137.0 137.2 136.6 137.0

Utilization

(percent)

1985 79.5 79.8 79.7 79.5 79.4 79.3 78.8 79.0 79.3 78.8 79.0 79.7 79.7 79.4 79.0 79.2 79.3

1986 80.0 79.4 78.7 78.7 78.8 78.6 78.7 78.5 78.5 78.8 79.0 79.6 79.4 78.7 78.6 79.1 78.9

1987 79.1 80.0 80.1 80.4 80.8 81.0 81.4 81.9 81.9 83.0 83.4 83.7 79.8 80.7 81.7 83.4 81.4

1988 83.7 84.0 84.2 84.5 84.4 84.5 84.5 84.9 84.6 84.9 85.0 85.3 84.0 84.5 84.7 85.1 84.5

1989 85.6 85.1 85.2 85.1 84.4 84.3 83.2 83.8 83.3 83.0 83.1 83.4 85.3 84.6 83.4 83.2 84.1

1990 82.6 83.3 83.6 83.3 83.3 83.4 83.2 83.3 83.3 82.5 81.3 80.7 83.2 83.3 83.2 81.5 82.8

1991 80.2 79.5 78.9 79.0 79.7 80.3 80.3 80.2 80.9 80.6 80.4 79.9 79.5 79.7 80.5 80.3 80.0

1992 79.2 79.7 80.2 80.6 80.8 80.6 81.2 80.6 80.6 81.0 81.2 81.2 79.7 80.7 80.8 81.1 80.6

1993 81.4 81.7 81.4 81.6 81.2 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 84.5 84.3 83.9 83.8 83.8 83.2 83.9 83.9 83.4 83.3 83.2 84.6 83.8 83.7 83.3 83.8

1996 82.3 83.2 82.8 83.3 83.6 84.0 83.4 83.5 83.7 83.2 83.7 83.9 82.8 83.6 83.6 83.6 83.4

1997 83.6 84.1 84.2 83.7 83.7 83.6 83.8 84.1 84.3 84.6 84.8 84.6 84.0 83.7 84.1 84.7 84.1

1998 84.5 84.2 83.8 83.6 83.8 82.7 81.8 83.1 82.4 82.6 82.1 81.9 84.1 83.4 82.4 82.2 83.0

1999 81.8 81.7 81.4 81.2 81.4 80.9 80.9 81.1 80.6 81.4 81.5 81.8 81.6 81.2 80.9 81.6 81.3

2000 81.4 81.3 81.3 81.6 81.4 81.2 80.8 80.3 80.5 80.0 79.8 79.4 81.3 81.4 80.5 79.7 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 77.2 76.0 74.9 76.6

2002 75.1 75.0 75.5 75.8 76.1 76.8 76.6 76.6 76.7 76.5 76.9 76.5 75.2 76.3 76.6 76.6 76.2

2003 77.0 77.2 77.0 76.4 76.4 76.4 76.6 76.4 76.9 76.9 77.5 77.4 77.1 76.4 76.6 77.3 76.8

2004 77.5 78.0 77.6 78.0 78.6 78.0 78.6 78.7 78.7 79.4 79.6 80.1 77.7 78.2 78.7 79.7 78.6

2005 80.4 80.8 80.6 80.6 80.7 80.9 80.5 80.5 78.7 79.6 80.2 80.6 80.6 80.7 79.9 80.1 80.3

2006 80.5 80.4 80.4 80.6 80.3 80.5 80.3 80.4 80.1 79.9 79.7 80.4 80.4 80.5 80.3 80.0 80.3

2007 79.8 80.6 80.5 80.9 80.9 81.0 80.9 81.1 81.3 80.8 81.2 81.1 80.3 80.9 81.1 81.0 80.8

2008 80.9 80.7 80.4 79.8 79.3 79.1 78.7 77.5 74.0 74.8 73.9 71.8 80.7 79.4 76.7 73.5 77.6

2009 70.1 69.5 68.3 67.7 66.9 66.7 67.4 68.3 68.9 69.2 69.5 69.9 69.3 67.1 68.2 69.6 68.5

2010 70.9 71.1 71.7 72.1 73.4 73.7 74.2 74.6 74.9 74.8 74.8 75.5 71.2 73.1 74.6 75.0 73.5

2011 75.5 75.2 75.9 75.6 75.8 75.9 76.2 76.6 76.5 77.0 76.7 77.0 75.5 75.7 76.4 76.9 76.1

2012 77.5 77.5 76.8 77.3 77.2 77.0 77.1 76.6 76.5 76.6 76.8 76.9 77.2 77.1 76.7 76.7 77.0

2013 76.8 77.1 77.1 77.0 76.8 76.9 76.4 76.9 77.2 77.1 77.2 77.3 77.0 76.9 76.9 77.2 77.0

2014 77.0 77.5 78.0 78.0 78.1 78.3 78.5 78.4 78.7 78.7 79.2 79.2 77.5 78.2 78.5 79.0 78.3

2015 78.9 78.7 78.5 78.2 78.0 78.1 78.7 78.1

NOTE: Estimates from February 2015 through June 2015 are subject to further revision in the upcoming monthly releases.

1. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

31
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)

1985 -.5 -.3 .8 -.2 .1 .1 -.4 .6 .2 -.3 .6 .4 -.1 1.5 .7 2.3 1.4

1986 1.2 -.6 -.4 .4 .2 -.2 .1 .3 .2 .3 .4 .8 4.7 -.1 1.0 4.3 2.2

1987 -.5 1.4 .1 .4 .6 .2 .6 .5 .4 1.5 .6 .5 4.7 5.9 5.9 10.3 4.6

1988 -.2 .2 .2 .8 -.3 .1 -.1 .0 .4 .5 .3 .5 2.3 3.4 .0 4.3 4.5

1989 .9 -1.0 -.1 .2 -.9 .2 -1.3 .8 -.3 -.3 .2 .0 2.4 -3.1 -4.3 -.6 .4

1990 -.4 1.5 .4 -.3 .1 .2 -.2 .3 -.1 -.9 -1.2 -.8 3.5 2.5 .6 -7.5 .0

1991 -.8 -.8 -.8 .4 .6 1.1 .3 .1 1.1 -.2 -.3 -.4 -9.7 1.2 7.1 1.1 -2.6

1992 -.8 .8 1.0 .4 .5 .1 .8 -.5 -.1 .5 .3 -.2 -1.2 7.1 2.8 1.5 2.6

1993 1.0 .1 -.4 .5 -.1 -.2 .3 -.3 .6 .8 .3 .5 4.0 .6 .3 6.0 2.6

1994 .1 .1 1.1 .6 .5 .1 .2 .5 .2 .7 .6 .9 3.9 7.1 3.7 7.0 4.4

1995 .1 -.4 -.1 -.4 -.1 .3 -.8 .8 .6 -.4 -.1 .0 2.7 -2.3 .2 .8 2.5

1996 -1.2 1.3 -.5 1.0 .5 .8 -.1 .2 .6 -.5 .7 .7 -2.0 7.4 3.9 2.8 1.5

1997 -.2 1.1 .8 -.6 .4 .4 .4 1.0 .6 .7 .8 .1 6.2 3.0 6.9 8.2 4.9

1998 .6 .0 -.3 .3 .4 -1.2 -.8 2.3 -.6 .7 -.1 .2 3.4 -.2 -.6 4.2 3.5

1999 -.1 .5 -.4 .0 .7 -.7 .0 .6 -.5 1.4 .4 .4 .7 .3 .0 6.7 1.3

2000 -.3 -.2 .3 .4 -.6 .0 -.2 -1.0 .3 -.4 -.5 -.8 .3 .9 -3.8 -4.6 .7

2001 -.6 -.6 -.3 -.1 -.7 -.6 -.2 -.5 -.2 -.7 -.2 .1 -6.9 -4.4 -4.6 -4.2 -4.7

2002 .6 -.2 .8 .2 .6 1.1 -.4 .1 .1 -.4 .4 -.6 3.2 5.6 2.6 -1.0 .4

2003 .4 -.1 .1 -1.0 -.1 .3 .0 -.6 .7 -.1 1.0 -.3 .5 -3.9 -.1 3.1 .0

2004 -.2 .7 -.2 .4 .8 -.8 1.0 .4 -.1 1.0 -.1 .6 1.3 3.3 3.7 4.8 2.0

2005 .6 .7 -.6 .2 .3 .1 -.5 .2 -1.2 1.5 .7 .0 5.2 1.4 -2.2 4.9 3.1

2006 .8 -.4 -.1 .5 -.6 .2 -.3 .5 .0 -.4 .0 1.5 3.1 .0 -.3 .8 1.5

2007 -.6 .3 .6 .5 .0 .5 .1 -.4 .3 -.6 .3 .0 3.2 4.7 .8 -1.7 1.8

2008 -.5 -.8 -.4 -1.2 -.6 -.6 -1.1 -1.2 -3.5 -.4 -2.1 -3.3 -4.3 -9.1 -13.6 -20.2 -5.8

2009 -3.1 -.2 -2.1 -.9 -1.2 -.4 1.4 1.2 .8 .2 .9 -.2 -24.1 -12.4 7.5 6.6 -13.8

2010 1.0 -.3 1.1 .8 1.5 -.1 .6 .1 .0 .1 -.1 .3 5.4 10.2 4.7 .6 5.1

2011 .2 .0 .6 -.6 .1 .0 .7 .2 .4 .7 -.4 .7 2.1 -.4 4.3 3.9 2.5

2012 1.0 .2 -.7 .6 -.5 .1 .0 -.2 -.1 -.3 .7 .7 5.2 -.3 -1.2 1.0 2.4

2013 -.2 .4 -.3 -.3 .2 .2 -.8 1.0 .3 .2 -.1 .1 2.8 -.7 .3 2.7 .8

2014 -.8 1.1 .8 .3 .2 .4 .8 -.4 .2 .2 .9 .0 .9 6.0 3.9 3.4 2.5

2015 -.3 -.3 .2 .3 .2 -.1 -.6 1.7

IP (2012=100)

1985 77.1 76.9 77.5 77.3 77.4 77.5 77.2 77.7 77.8 77.6 78.1 78.4 77.2 77.4 77.6 78.0 77.5

1986 79.3 78.9 78.6 78.9 79.0 78.9 78.9 79.1 79.3 79.5 79.8 80.4 78.9 78.9 79.1 79.9 79.2

1987 80.1 81.2 81.3 81.6 82.1 82.3 82.8 83.2 83.6 84.8 85.3 85.7 80.9 82.0 83.2 85.3 82.8

1988 85.6 85.8 85.9 86.6 86.4 86.5 86.4 86.4 86.7 87.1 87.3 87.8 85.8 86.5 86.5 87.4 86.5

1989 88.5 87.6 87.6 87.7 86.9 87.1 85.9 86.6 86.3 86.1 86.2 86.2 87.9 87.2 86.3 86.2 86.9

1990 85.9 87.2 87.6 87.3 87.4 87.6 87.4 87.7 87.6 86.8 85.8 85.1 86.9 87.4 87.6 85.9 86.9

1991 84.4 83.7 83.0 83.3 83.9 84.7 85.0 85.1 86.1 85.9 85.7 85.4 83.7 84.0 85.4 85.7 84.7

1992 84.7 85.4 86.2 86.6 87.0 87.1 87.8 87.4 87.3 87.7 87.9 87.8 85.4 86.9 87.5 87.8 86.9

1993 88.7 88.8 88.5 88.9 88.8 88.6 88.9 88.6 89.1 89.8 90.1 90.6 88.7 88.8 88.9 90.2 89.1

1994 90.6 90.7 91.7 92.3 92.7 92.8 93.0 93.5 93.7 94.4 94.9 95.8 91.0 92.6 93.4 95.0 93.0

1995 95.9 95.6 95.5 95.1 95.0 95.3 94.5 95.3 95.8 95.4 95.3 95.3 95.7 95.1 95.2 95.4 95.3

1996 94.2 95.4 95.0 96.0 96.5 97.3 97.2 97.4 98.0 97.5 98.2 98.9 94.9 96.6 97.5 98.2 96.8

1997 98.7 99.8 100.5 100.0 100.4 100.8 101.2 102.2 102.8 103.5 104.4 104.5 99.7 100.4 102.1 104.1 101.6

1998 105.1 105.1 104.8 105.1 105.5 104.3 103.4 105.8 105.1 105.9 105.7 106.0 105.0 104.9 104.8 105.9 105.1

1999 105.9 106.4 105.9 105.9 106.6 105.9 105.9 106.5 106.0 107.5 107.9 108.3 106.0 106.1 106.1 107.9 106.5

2000 108.0 107.8 108.1 108.6 108.0 108.0 107.8 106.7 107.0 106.6 106.0 105.1 107.9 108.2 107.2 105.9 107.3

2001 104.5 103.9 103.6 103.5 102.8 102.3 102.1 101.6 101.3 100.7 100.5 100.6 104.0 102.9 101.7 100.6 102.3

2002 101.2 101.1 101.8 102.0 102.6 103.7 103.3 103.4 103.5 103.1 103.5 102.9 101.4 102.8 103.4 103.2 102.7

2003 103.3 103.2 103.3 102.2 102.1 102.4 102.4 101.8 102.5 102.4 103.4 103.1 103.3 102.3 102.2 103.0 102.7

2004 102.9 103.6 103.4 103.9 104.7 103.9 104.9 105.3 105.2 106.2 106.1 106.8 103.3 104.2 105.1 106.4 104.7

2005 107.4 108.2 107.6 107.8 108.2 108.3 107.8 108.0 106.7 108.3 109.1 109.1 107.7 108.1 107.5 108.8 108.0

2006 110.0 109.5 109.4 110.0 109.3 109.6 109.2 109.7 109.7 109.2 109.2 110.9 109.6 109.6 109.5 109.8 109.6

2007 110.2 110.5 111.2 111.8 111.7 112.3 112.4 111.9 112.2 111.5 111.8 111.8 110.6 111.9 112.1 111.7 111.6

2008 111.2 110.3 109.8 108.5 107.8 107.2 106.0 104.8 101.1 100.7 98.6 95.4 110.4 107.8 104.0 98.3 105.1

2009 92.5 92.3 90.4 89.5 88.5 88.1 89.4 90.4 91.1 91.3 92.1 91.9 91.7 88.7 90.3 91.8 90.6

2010 92.8 92.6 93.6 94.4 95.7 95.7 96.3 96.4 96.4 96.5 96.4 96.6 93.0 95.3 96.4 96.5 95.3

2011 96.8 96.8 97.4 96.8 97.0 97.0 97.7 97.9 98.3 98.9 98.5 99.2 97.0 96.9 97.9 98.9 97.7

2012 100.2 100.4 99.8 100.4 99.9 99.9 100.0 99.7 99.6 99.3 100.0 100.7 100.1 100.1 99.8 100.0 100.0

2013 100.5 100.9 100.7 100.4 100.5 100.7 99.9 100.8 101.1 101.3 101.2 101.3 100.7 100.5 100.6 101.3 100.8

2014 100.5 101.6 102.4 102.7 102.9 103.3 104.1 103.7 104.0 104.2 105.1 105.1 101.5 103.0 103.9 104.8 103.3

2015 104.8 104.4 104.7 105.0 105.2 105.0 104.6 105.1

NOTE: Estimates from February 2015 through June 2015 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.

32
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

2012 output)

1985 98.3 98.4 98.6 98.8 99.0 99.2 99.4 99.5 99.7 99.8 99.9 100.0 98.4 99.0 99.5 99.9 99.2

1986 100.1 100.2 100.2 100.3 100.4 100.5 100.5 100.6 100.7 100.8 101.0 101.1 100.2 100.4 100.6 101.0 100.5

1987 101.2 101.4 101.5 101.7 101.9 102.0 102.1 102.3 102.4 102.4 102.5 102.6 101.4 101.9 102.3 102.5 102.0

1988 102.6 102.6 102.6 102.6 102.6 102.6 102.6 102.6 102.7 102.7 102.8 102.9 102.6 102.6 102.6 102.8 102.7

1989 103.0 103.1 103.2 103.4 103.5 103.7 103.9 104.1 104.3 104.5 104.7 104.9 103.1 103.5 104.1 104.7 103.9

1990 105.1 105.3 105.5 105.7 105.8 106.0 106.2 106.3 106.5 106.7 106.8 107.0 105.3 105.8 106.3 106.8 106.1

1991 107.1 107.2 107.4 107.5 107.6 107.8 107.9 108.0 108.1 108.2 108.3 108.4 107.2 107.6 108.0 108.3 107.8

1992 108.5 108.7 108.8 108.9 109.0 109.2 109.3 109.4 109.6 109.7 109.8 110.0 108.7 109.0 109.4 109.8 109.2

1993 110.1 110.2 110.4 110.5 110.6 110.7 110.8 110.9 111.0 111.2 111.3 111.4 110.2 110.6 110.9 111.3 110.8

1994 111.5 111.6 111.8 111.9 112.1 112.2 112.4 112.6 112.8 113.0 113.2 113.4 111.7 112.1 112.6 113.2 112.4

1995 113.6 113.9 114.1 114.3 114.6 114.8 115.1 115.3 115.5 115.8 116.0 116.3 113.9 114.6 115.3 116.0 114.9

1996 116.5 116.8 117.0 117.3 117.5 117.8 118.0 118.3 118.6 119.0 119.3 119.6 116.8 117.5 118.3 119.3 118.0

1997 120.0 120.4 120.8 121.2 121.7 122.2 122.7 123.2 123.7 124.2 124.8 125.3 120.4 121.7 123.2 124.8 122.5

1998 125.9 126.4 126.9 127.5 128.0 128.5 129.0 129.5 129.9 130.4 130.8 131.2 126.4 128.0 129.5 130.8 128.7

1999 131.6 132.0 132.4 132.7 133.0 133.3 133.7 133.9 134.2 134.5 134.7 135.0 132.0 133.0 133.9 134.7 133.4

2000 135.2 135.5 135.7 135.9 136.1 136.3 136.5 136.6 136.8 137.0 137.1 137.3 135.4 136.1 136.6 137.1 136.3

2001 137.5 137.6 137.7 137.8 138.0 138.1 138.1 138.2 138.3 138.3 138.4 138.4 137.6 138.0 138.2 138.4 138.0

2002 138.4 138.4 138.4 138.4 138.3 138.3 138.2 138.2 138.1 138.0 137.9 137.9 138.4 138.3 138.2 137.9 138.2

2003 137.8 137.7 137.6 137.5 137.4 137.3 137.2 137.1 137.0 137.0 136.9 136.8 137.7 137.4 137.1 136.9 137.3

2004 136.7 136.6 136.5 136.4 136.4 136.3 136.3 136.3 136.3 136.3 136.3 136.4 136.6 136.4 136.3 136.3 136.4

2005 136.5 136.6 136.7 136.9 137.0 137.2 137.4 137.6 137.9 138.1 138.3 138.5 136.6 137.0 137.7 138.3 137.4

2006 138.8 139.0 139.2 139.4 139.6 139.7 139.9 140.1 140.2 140.4 140.5 140.7 139.0 139.6 140.1 140.5 139.8

2007 140.8 141.0 141.1 141.2 141.3 141.4 141.5 141.6 141.7 141.7 141.7 141.8 141.0 141.3 141.6 141.7 141.4

2008 141.7 141.7 141.7 141.6 141.6 141.5 141.4 141.2 141.1 140.9 140.7 140.5 141.7 141.5 141.2 140.7 141.3

2009 140.3 140.1 139.8 139.5 139.2 138.9 138.6 138.3 138.0 137.7 137.4 137.1 140.1 139.2 138.3 137.4 138.7

2010 136.7 136.4 136.2 135.9 135.6 135.3 135.0 134.7 134.5 134.2 134.0 133.7 136.5 135.6 134.7 134.0 135.2

2011 133.5 133.3 133.1 132.9 132.8 132.7 132.7 132.6 132.6 132.7 132.7 132.8 133.3 132.8 132.6 132.7 132.9

2012 132.9 133.0 133.2 133.3 133.5 133.7 133.9 134.0 134.2 134.4 134.6 134.8 133.0 133.5 134.0 134.6 133.8

2013 135.0 135.1 135.3 135.4 135.6 135.7 135.8 135.9 136.1 136.2 136.3 136.4 135.1 135.6 135.9 136.3 135.7

2014 136.5 136.6 136.7 136.7 136.8 136.9 137.0 137.0 137.1 137.2 137.2 137.3 136.6 136.8 137.0 137.2 136.9

2015 137.4 137.5 137.6 137.7 137.8 137.9 137.5 137.8

Utilization

(percent)

1985 78.5 78.1 78.6 78.2 78.2 78.2 77.7 78.0 78.1 77.7 78.1 78.4 78.4 78.2 77.9 78.1 78.2

1986 79.2 78.7 78.4 78.6 78.7 78.5 78.5 78.6 78.7 78.9 79.1 79.6 78.8 78.6 78.6 79.2 78.8

1987 79.1 80.1 80.1 80.3 80.6 80.7 81.1 81.4 81.7 82.8 83.2 83.6 79.7 80.5 81.4 83.2 81.2

1988 83.4 83.6 83.7 84.4 84.2 84.3 84.2 84.2 84.5 84.8 85.0 85.3 83.6 84.3 84.3 85.0 84.3

1989 86.0 85.0 84.9 84.9 83.9 83.9 82.7 83.2 82.8 82.4 82.3 82.2 85.3 84.3 82.9 82.3 83.7

1990 81.7 82.8 83.0 82.6 82.6 82.6 82.3 82.5 82.2 81.4 80.3 79.5 82.5 82.6 82.3 80.4 82.0

1991 78.8 78.1 77.3 77.5 77.9 78.7 78.8 78.9 79.7 79.4 79.1 78.7 78.1 78.0 79.1 79.1 78.6

1992 78.0 78.6 79.3 79.5 79.8 79.8 80.4 79.8 79.7 79.9 80.1 79.8 78.6 79.7 79.9 79.9 79.5

1993 80.6 80.6 80.2 80.5 80.3 80.1 80.2 79.9 80.2 80.8 81.0 81.3 80.5 80.3 80.1 81.0 80.5

1994 81.3 81.2 82.1 82.4 82.7 82.7 82.8 83.1 83.1 83.5 83.9 84.5 81.5 82.6 83.0 84.0 82.8

1995 84.4 83.9 83.7 83.2 82.9 83.0 82.1 82.6 82.9 82.4 82.1 82.0 84.0 83.0 82.5 82.2 82.9

1996 80.9 81.7 81.2 81.9 82.1 82.6 82.3 82.3 82.6 82.0 82.3 82.7 81.3 82.2 82.4 82.3 82.0

1997 82.3 82.9 83.2 82.5 82.5 82.5 82.5 83.0 83.1 83.3 83.7 83.4 82.8 82.5 82.9 83.5 82.9

1998 83.5 83.1 82.6 82.4 82.4 81.1 80.2 81.7 80.9 81.2 80.8 80.8 83.1 82.0 80.9 80.9 81.7

1999 80.4 80.6 80.0 79.8 80.2 79.4 79.2 79.5 79.0 79.9 80.0 80.2 80.3 79.8 79.2 80.1 79.9

2000 79.8 79.6 79.7 79.9 79.4 79.3 79.0 78.1 78.2 77.8 77.3 76.6 79.7 79.5 78.4 77.2 78.7

2001 76.0 75.5 75.2 75.1 74.5 74.1 73.9 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 74.1 75.0 74.7 74.9 75.0 74.7 75.0 74.6 73.3 74.3 74.9 74.8 74.3

2003 75.0 75.0 75.1 74.3 74.3 74.6 74.6 74.2 74.8 74.8 75.6 75.4 75.0 74.4 74.5 75.3 74.8

2004 75.3 75.9 75.8 76.1 76.8 76.2 77.0 77.3 77.2 78.0 77.8 78.3 75.6 76.4 77.1 78.0 76.8

2005 78.7 79.2 78.7 78.8 78.9 78.9 78.4 78.5 77.4 78.4 78.9 78.7 78.9 78.9 78.1 78.7 78.6

2006 79.3 78.8 78.6 78.9 78.4 78.4 78.1 78.3 78.2 77.8 77.7 78.8 78.9 78.6 78.2 78.1 78.4

2007 78.3 78.4 78.8 79.2 79.1 79.4 79.4 79.0 79.2 78.7 78.9 78.8 78.5 79.2 79.2 78.8 78.9

2008 78.5 77.8 77.5 76.6 76.2 75.8 75.0 74.2 71.7 71.5 70.1 67.9 77.9 76.2 73.6 69.8 74.4

2009 65.9 65.9 64.6 64.2 63.5 63.4 64.5 65.4 66.1 66.3 67.1 67.1 65.5 63.7 65.3 66.8 65.3

2010 67.9 67.8 68.7 69.5 70.6 70.7 71.3 71.5 71.7 71.9 72.0 72.3 68.1 70.3 71.5 72.1 70.5

2011 72.5 72.7 73.2 72.8 73.0 73.1 73.6 73.8 74.1 74.6 74.2 74.7 72.8 73.0 73.8 74.5 73.5

2012 75.4 75.5 74.9 75.3 74.8 74.8 74.7 74.4 74.2 73.9 74.3 74.7 75.3 74.9 74.4 74.3 74.7

2013 74.5 74.7 74.4 74.1 74.2 74.2 73.5 74.2 74.3 74.4 74.3 74.3 74.5 74.2 74.0 74.3 74.2

2014 73.6 74.4 74.9 75.1 75.2 75.5 76.0 75.7 75.8 76.0 76.6 76.5 74.3 75.3 75.9 76.4 75.4

2015 76.3 76.0 76.1 76.2 76.3 76.2 76.1 76.2

NOTE: Estimates from February 2015 through June 2015 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.

33
Table 12

ANNUAL PROPORTIONS IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY

Item 2007 2008 2009 2010 2011 2012 2013 2014

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 55.8 56.1 57.4 55.1 54.5 54.1 53.5 54.5

Consumer goods 27.2 27.1 29.3 27.7 27.3 26.4 26.4 26.7

Durable 6.4 6.0 5.7 5.5 5.3 5.3 5.4 5.7

Automotive products 3.1 2.7 2.7 2.7 2.6 2.5 2.6 2.8

Home electronics .4 .4 .3 .2 .2 .2 .2 .2

Appliances, furniture, carpeting 1.0 1.0 .9 .8 .7 .8 .8 .8

Miscellaneous goods 2.0 2.0 1.9 1.8 1.8 1.8 1.8 1.9

Nondurable 20.8 21.1 23.6 22.2 22.0 21.1 21.0 21.0

Non-energy 15.8 16.3 18.1 16.6 16.2 15.7 15.4 15.7

Foods and tobacco 8.2 8.6 9.9 9.2 8.9 8.7 8.7 8.7

Clothing .4 .4 .3 .3 .3 .3 .2 .2

Chemical products 5.2 5.3 5.8 5.2 5.2 4.9 4.6 5.0

Paper products 1.5 1.5 1.6 1.5 1.4 1.4 1.3 1.3

Energy 5.0 4.8 5.5 5.6 5.8 5.5 5.7 5.3

Business equipment 9.8 10.0 9.4 9.3 9.3 10.0 9.7 10.2

Transit 2.0 2.0 1.9 2.0 1.9 2.2 2.3 2.5

Information processing 2.7 2.7 2.6 2.3 2.2 2.3 2.2 2.2

Industrial and other 5.0 5.3 4.9 4.9 5.3 5.5 5.2 5.5

Defense and space equipment 2.0 2.2 2.5 2.6 2.4 2.3 2.2 2.2

Construction supplies 5.2 5.0 4.4 4.2 4.2 4.3 4.3 4.5

Business supplies 10.9 11.1 11.2 10.7 10.5 10.3 10.1 10.1

Materials 44.2 43.9 42.6 44.9 45.5 45.9 46.5 45.5

Non-energy 27.2 27.1 26.1 27.3 27.7 27.5 26.9 27.1

Durable 16.7 16.6 14.9 16.0 16.5 16.5 16.2 16.6

Consumer parts 3.0 2.7 2.2 2.5 2.6 2.8 2.8 2.9

Equipment parts 5.6 5.9 5.4 5.6 5.9 5.7 5.4 5.5

Other 8.1 7.9 7.3 7.9 8.1 8.0 8.0 8.2

Nondurable 10.5 10.5 11.2 11.3 11.2 11.0 10.8 10.5

Textile .5 .4 .4 .5 .4 .4 .4 .4

Paper 2.1 2.2 2.2 2.1 2.0 2.0 2.0 1.9

Chemical 5.0 4.7 5.0 5.5 5.6 5.4 5.2 5.1

Energy 17.0 16.8 16.5 17.6 17.8 18.4 19.5 18.4

INDUSTRY GROUPS

Manufacturing 76.1 75.8 75.7 74.7 74.5 74.3 73.0 73.9

Manufacturing (NAICS) 31–33 72.5 72.2 72.1 71.6 71.6 71.5 70.3 71.4

Durable manufacturing 39.2 39.2 36.5 36.9 37.0 37.6 36.9 38.1

Wood products 321 1.2 1.1 1.0 .9 .9 1.0 1.1 1.1

Nonmetallic mineral products 327 2.2 2.0 1.7 1.6 1.6 1.7 1.7 1.8

Primary metals 331 2.7 2.5 2.1 2.8 2.8 2.6 2.6 2.6

Fabricated metal products 332 5.8 6.0 5.3 5.2 5.4 5.4 5.4 5.5

Machinery 333 5.1 5.4 4.9 5.1 5.6 6.0 5.6 5.9

Computer and electronic products 334 6.9 7.0 6.6 6.4 6.3 6.1 5.7 5.7

Electrical equip., appliances,

and components 335 1.9 2.0 1.9 1.8 1.8 1.8 1.8 1.8

Motor vehicles and parts 3361–3 5.2 4.5 4.0 4.5 4.2 4.5 4.7 5.1

Aerospace and miscellaneous

transportation equipment 3364–9 4.0 4.3 4.6 4.4 4.2 4.4 4.4 4.4

Furniture and related products 337 1.4 1.4 1.1 1.0 1.0 1.1 1.1 1.1

Miscellaneous 339 2.9 3.2 3.4 3.2 3.1 2.9 2.9 3.0

Nondurable manufacturing 33.3 33.0 35.6 34.7 34.6 33.9 33.5 33.2

Food, beverage, and tobacco products 311,2 9.9 10.5 12.1 11.2 10.7 10.5 10.5 10.5

Textile and product mills 313,4 .9 .8 .7 .7 .7 .7 .7 .7

Apparel and leather 315,6 .4 .4 .3 .3 .3 .3 .3 .3

Paper 322 2.5 2.6 2.8 2.6 2.5 2.6 2.6 2.6

Printing and support 323 1.9 1.9 1.8 1.6 1.5 1.5 1.4 1.4

Petroleum and coal products 324 3.3 2.7 3.1 3.6 4.0 3.8 3.8 3.2

Chemicals 325 11.3 11.3 11.9 11.8 11.9 11.6 11.1 11.3

Plastics and rubber products 326 3.0 3.0 2.9 2.9 2.9 3.0 3.1 3.3

Other manufacturing (non-NAICS) 1133,5111 3.6 3.6 3.6 3.1 3.0 2.8 2.7 2.6

Mining 21 14.1 13.7 12.6 14.1 14.8 15.5 16.6 15.5

Utilities 2211,2 9.8 10.5 11.7 11.2 10.7 10.2 10.4 10.6

Electric 2211 8.1 8.8 10.0 9.7 9.4 9.0 9.1 9.3

Natural gas 2212 1.7 1.7 1.7 1.5 1.3 1.2 1.3 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 2014 and 2015 would account for a 0.381 percent increase in total IP.

34
Table 13

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY

Seasonally adjusted

2012=100 Percent change

2015 2015 June ’14 to

Industrial production Jan.r

Feb.r Mar.r Apr.r MayrJunerJan.rFeb.r Mar.r Apr.r MayrJunerJune ’15

Total index 107.6 107.5 107.4 107.0 106.9 107.1 -.3 -.1 -.1 -.3 -.2 .2 1.3

Previous estimates 105.8 105.9 106.1 105.6 105.4 105.7 -.4 .0 .2 -.5 -.2 .3 1.5

Major market groups

Final Products 104.6 104.3 104.2 103.9 104.0 103.9 -.1 -.3 .0 -.3 .2 -.1 1.0

Consumer goods 105.3 105.4 105.6 105.4 105.5 105.4 .2 .0 .3 -.2 .1 -.1 1.9

Business equipment 106.2 105.8 105.9 106.0 106.8 106.8 -.1 -.4 .1 .1 .7 .0 2.5

Nonindustrial supplies 105.9 105.8 105.0 105.1 105.0 105.6 .2 -.2 -.8 .1 .0 .5 1.4

Construction 110.1 109.2 107.7 107.7 108.2 108.3 -.2 -.9 -1.4 .0 .4 .1 1.4

Materials 110.7 110.8 110.8 110.4 109.8 110.3 -.6 .1 .0 -.4 -.5 .4 1.5

Major industry groups

Manufacturing (see note below) 104.9 104.6 104.7 105.1 105.2 105.1 -.3 -.3 .2 .3 .1 -.1 1.6

Previous estimates 101.3 101.2 101.5 101.6 101.7 101.7 -.6 -.1 .3 .1 .0 .0 1.8

Mining 122.1 120.2 120.6 118.6 115.5 116.8 -1.6 -1.6 .3 -1.7 -2.6 1.1 -1.8

Utilities 104.6 108.2 105.5 102.7 103.3 104.8 1.5 3.5 -2.5 -2.6 .6 1.5 3.1

Capacity

Percent of capacity growth

Average 1988- 1990- 1994- 2008-

1972- 89 91 95 09 2014 2015 June ’14 to

Capacity utilization 2014 high low high low June Jan.r

Feb.r Mar.r Apr.r MayrJunerJune ’15

Total industry 80.1 85.2 78.8 85.0 66.9 78.2 78.7 78.5 78.3 78.0 77.7 77.8 1.8

Previous estimates 80.1 85.3 78.7 85.0 66.9 79.2 79.1 79.0 79.0 78.5 78.2 78.4 2.6

Manufacturing (see note below) 78.5 85.6 77.3 84.6 63.9 75.4 76.1 75.7 75.8 76.0 76.0 75.8 1.0

Previous estimates 78.6 85.6 77.3 84.6 63.9 77.3 77.4 77.2 77.3 77.3 77.3 77.2 1.9

Mining 87.5 86.2 83.8 88.7 79.0 91.6 89.8 88.0 88.0 86.2 83.7 84.4 6.6

Utilities 85.9 92.9 84.3 93.3 78.5 78.6 80.3 83.0 80.9 78.7 79.1 80.2 1.0

Stage-of-process groups

Crude 86.3 87.6 84.3 89.8 76.9 88.6 87.1 86.1 85.9 84.9 83.0 83.6 5.1

Primary and semifinished 80.7 86.5 78.1 87.8 64.2 76.0 76.8 77.1 76.5 76.1 76.2 76.3 .8

Finished 77.0 83.4 77.4 80.7 66.7 75.2 76.3 75.8 76.1 76.2 76.3 76.0 1.3

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.

35
Table 14

NETWORKING EQUIPMENT, 2001–2013

Production Index Price Index Value of Production

(2012=100) (2012=100) (millions of dollars)

Annual Estimates

2001 245.1 374.6 24,640.7

2002 161.3 338.8 14,682.0

2003 167.1 287.6 12,900.4

2004 165.0 250.0 11,087.1

2005 209.6 223.1 12,540.0

2006 341.0 204.3 18,498.8

2007 239.0 183.4 12,117.4

2008 21.0 169.7 956.3

2009 60.1 148.8 2,387.8

2010 81.3 130.9 2,860.5

2011 82.3 110.2 2,427.7

2012 100.0 100.0 2,677.0

2013 110.1 90.7 2,669.9

Quarterly Estimates

2001Q1 272.6 380.1 27,754.5

Q2 253.1 373.9 25,347.7

Q3 235.8 372.2 23,502.0

Q4 220.1 372.5 21,955.3

2002Q1 177.4 355.8 16,907.3

Q2 161.1 342.1 14,757.6

Q3 155.0 334.1 13,867.8

Q4 152.5 323.9 13,231.5

2003Q1 151.9 300.1 12,214.7

Q2 172.0 302.3 13,928.9

Q3 182.7 287.3 14,055.6

Q4 163.8 260.8 11,443.7

2004Q1 180.1 269.3 12,989.0

Q2 157.6 254.6 10,746.6

Q3 160.3 244.1 10,480.5

Q4 169.9 232.7 10,584.0

2005Q1 169.0 225.3 10,200.8

Q2 191.0 222.6 11,389.5

Q3 230.7 222.8 13,767.8

Q4 264.9 222.2 15,765.1

2006Q1 235.2 217.5 13,701.6

Q2 273.1 206.0 15,062.7

Q3 382.6 199.2 20,408.5

Q4 522.7 194.4 27,214.3

2007Q1 431.6 190.6 22,031.5

Q2 373.2 188.0 18,785.5

Q3 38.1 180.8 1,845.2

Q4 43.7 174.0 2,036.5

2008Q1 22.2 177.5 1,056.3

Q2 16.6 172.0 763.1

Q3 19.0 169.1 860.3

Q4 27.1 159.6 1,157.5

2009Q1 27.5 150.8 1,112.7

Q2 50.4 151.5 2,045.2

Q3 75.6 144.5 2,928.0

Q4 90.6 147.9 3,589.4

2010Q1 84.0 139.5 3,138.0

Q2 77.2 132.4 2,739.6

Q3 83.2 127.9 2,848.0

Q4 78.3 123.6 2,591.3

2011Q1 71.2 116.0 2,213.3

Q2 79.0 109.5 2,317.7

Q3 84.8 109.1 2,476.9

Q4 91.6 106.3 2,607.4

2012Q1 95.7 104.5 2,680.1

Q2 97.8 102.5 2,684.5

Q3 101.1 97.2 2,634.4

Q4 105.3 95.9 2,703.6

2013Q1 103.6 95.4 2,646.0

Q2 108.0 92.8 2,684.2

Q3 112.3 89.5 2,690.6

Q4 116.3 85.2 2,655.2

NOTE: The production index in the table is calculated as the value of production divided by the price index and then indexed to 2012.

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.

36
EXPLANATORY NOTE

The Industrial Production and Capacity Utilization statistical

release, which is published around the middle of the month, reports

measures of output, capacity, and capacity utilization in

manufacturing, mining, and the electric and gas utilities industries.

More detailed descriptions of industrial production and capacity

utilization are available on the Board’s website at

www.federalreserve.gov/releases/G17. In addition, files containing

data shown in the release, more detailed series that were published in

the G.17 prior to December 2000, and historical data are available

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

Instructions for searching for and downloading specific series are

provided as well.

INDUSTRIAL PRODUCTION

Coverage. The industrial production (IP) index measures the real

output of the manufacturing, mining, and electric and gas utilities

industries; the reference period for the index is 2012. 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 299

individual series based on the 2012 NAICS codes. These individual

series are classified in two ways: (1) market groups, and (2) industry

groups. Market groups consist of products and materials. Total

products are the aggregate of final products, such as consumer goods

and equipment, and nonindustrial supplies (which are inputs to

nonindustrial sectors). Materials are inputs in the manufacture of

products. Major industry groups include three-digit NAICS industries

and aggregates of these industries—for example, durable and

nondurable manufacturing, mining, and utilities. A complete

description of the market and industry structures, including details

regarding series classification, relative importance weights, and data

sources, is available on the Board’s website at

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

Source data. On a monthly basis, the individual indexes of industrial

production are constructed from two main types of source data: (1)

output measured in physical units, and (2) data on inputs to the

production process, from which output is inferred. Data on physical

products, such as tons of steel or barrels of oil, are typically obtained

from private trade associations and from government agencies; data of

this type are used to estimate monthly IP wherever possible and

appropriate. Production indexes for a few industries are derived by

dividing estimated nominal output (calculated using unit production

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

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

include semiconductors. When suitable data on physical product are

not available, estimates of output are based on production-worker

hours by industry. Data on hours worked by production workers are

collected in the monthly establishment survey conducted by the

Bureau of Labor Statistics. The factors used to convert inputs into

estimates of production are based on historical relationships between

the inputs and the comprehensive annual data used to benchmark the

IP indexes; these factors also may be influenced by technological or

cyclical developments. The annual data used in benchmarking the

individual IP indexes are constructed from a variety of source data,

such as the quinquennial Censuses of Manufactures and Mineral

Industries and the Annual Survey of Manufactures, prepared by the

Bureau of the Census; the Minerals Yearbook, prepared by the U.S.

Geological Survey of the Department of the Interior; and publications

of the Department of Energy.

Aggregation Methodology and Weights. The aggregation method

for the IP index is a version of the Fisher-ideal index formula. (For a

detailed discussion of the aggregation method, see The Federal

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

series that measure the output of an individual industry are combined

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

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

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

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

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

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

month (pm) and the estimate for previous month:

I

A

m

I

A

m−1

=

s P

P

Impm−1

Im−1pm−1

×

P

P

Impm

Im−1pm

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

tables in the monthly G.17 release) are estimates of the industries’

relative contributions to overall growth in the following year. For

example, the relative importance weight of the motor vehicles and

parts industry is about 6 percent. If output in this industry increased

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

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

calculations, the Federal Reserve’s website provides supplemental

monthly statistics that represent the exact proportionate contribution

of a monthly change in a component index to the monthly change in

the total index (www.federalreserve.gov/

releases/G17/ipdisk/ipweightssa.txt).

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

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

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

subsequent five months as new source data become available.

(Revised estimates are denoted by the superscript “r” in tables.) For

the first estimate of output for a given month, about 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 one-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 May

2015; for other series, the factors were estimated with data through at

least March 2015. 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 1987–2013 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 1987–2013

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.

37
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 88 detailed industries

(70 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 (for example, 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 website

(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 survey of large companies

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

establishments covered by the annual Survey of Plant Capacity (the

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

was discontinued) for the fourteen years they overlapped.

Adjustments have been made to keep the industry utilization rates

currently reported by the Federal Reserve (now based on the QSPC)

roughly in line with rates formerly reported by McGraw-Hill. As a

consequence, the rates reported by the Federal Reserve tend to be

higher than the rates reported in the Census utilization surveys.

Perspective. Over the 1972–2014 period, the average total industry

utilization rate was 80.1 percent; for manufacturing, the average

factory operating rate was 78.7 percent. Industrial plants usually

operate at capacity utilization rates that are well below 100 percent:

none of the broad aggregates has ever reached 100 percent. For total

industry and total manufacturing, utilization rates have exceeded 90

percent only in wartime. The highs and lows in capacity utilization

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, 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.151-76. 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

On the day the G.17 is released it is published at 9:15 a.m., the

publication schedule for 2015 is January 16, February 18, March 16,

April 15, May 15, June 15, July 15, August 14, September 15,

October 16, November 17, and December 16.

This release schedule is available on the Board’s website at

http://www.federalreserve.gov/releases/g17.

38