FEDERAL RESERVE statistical release

G.17 (419) 2013 Historical and Annual Revision For release at 12:00 noon (EDT)

March 22, 2013

Industrial Production and Capacity Utilization: The 2013 Annual Revision

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

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

have increased 0.7 percentage point less in 2011 than was previously published. The revisions to IP for other

years were smaller: Compared to the previous estimates, industrial production fell slightly less in 2008 and 2009

and increased slightly less in 2010 and 2012. At 97.7 percent of its 2007 average, the index in the fourth quarter

of 2012 now stands 0.4 percent below its previous estimate. With these revisions, IP is still estimated to have

advanced about 6 percent in 2010, the first full year following the trough in June 2009 of the most recent

recession, but it is now estimated to have risen about 3 percent both in 2011 and in 2012. Since the trough of the

recession, total IP has reversed about 90 percent of its peak-to-trough decline.

The revised IP indexes incorporate detailed data on factory activity for 2011 and revised data for 2010

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

Geological Survey (USGS) regarding metallic and nonmetallic minerals (except fuels) for 2012 were used in the

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

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

recalculations of seasonal factors. In addition, new high-frequency indicators were incorporated for several

production indexes.

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

utilization for total industry was 0.8 percentage point lower in the fourth quarter of 2011 and 1.4 percentage

points lower in the fourth quarter of 2012 than previously estimated; the decrease resulted both from an

industrial production index that was lower than previously estimated and from a capacity index that increased

more rapidly in 2011 and 2012 than previously estimated. Capacity utilization rates for the fourth quarters of

2009 and 2010 were little changed.

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

Quarterly Survey of Plant Capacity Utilization (QSPC) for the fourth quarter of 2012, which covered the

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

Department of Energy, and other organizations, as well as data on capital spending by industry from the 2011

ASM.

RESULTS OF THE REVISION

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

quarterly, and annual average index levels for total IP and for total capacity and utilization for January 1983

through February 2013, along with the percentage changes in total IP. Tables 2 through 4 show the revised rates

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

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

years before 1972 were not revised.

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of change in IP from 2008 through 2012 for market groups, industry groups, special aggregates, and selected

detail. Table 5 presents the revised rates of change in capacity by industry groups for the 2009–13 period. Tables

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

contains the revised capacity utilization rates for the final quarters of 2009 through 2012 and the differences

between the revised and previous estimates. Table 7 reports revised semiannual rates of change for IP for 2008

through 2012. Table 8 contains revised capacity utilization rates for the second and fourth quarters of 2008

through 2012. Tables 9A, 9B, 10A, 10B, 11A, and 11B report the revised production, capacity, and utilization

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

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

industry groups for 2005 through 2012. Table 13 reports revised IP indexes and capacity utilization rates for the

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

equipment for 2000 through 2012.

Industrial Production

Revisions to the changes in total IP in recent years show a somewhat slower rebound after the trough of

the recent recession than previously reported (chart 1 and tables 2 and 7). The decline from late 2007 to June

2009 remains around 17 percent; the current estimate shows that about 15 percentage points of that decrease had

been recovered by February 2013, whereas the previous estimates showed that about 16 percentage points had

been recovered.2

Production by Industry Group

The recent recession was more pronounced in manufacturing than in mining and utilities, with factory

output falling 20 percent from late 2007 to June 2009.3 Through February 2013, manufacturing production had

recovered about three-fourths of this decline. Factory output is now estimated to have moved up about 3 percent

in both 2011 and 2012 after having advanced more than 6 percent in 2010. The revision reduced the gain for

manufacturing production in 2011 by about 1 percentage point.

Output fell for all major manufacturing industries during the recession, but, as has historically been the

case during recessions, the magnitude of the decline for durable goods industries was notably greater than that

for nondurable goods industries. Even so, the production of durables has now fully reversed its decrease of

27 percent during the recession, with the index in February 2013 standing 0.4 percent above its pre-recession

peak. In contrast, the output of nondurables declined by about 14 percent during the recession and is still about

9 percent below its pre-recession peak.

After having advanced 12.2 percent in 2010, the output of durable goods industries moved up 6.3 percent

in 2011 and 5.4 percent in 2012 (table 2). The gains in 2011 and 2012 were about 1 percentage point and 1/2

percentage point slower than previously estimated, respectively; in contrast, the rates of change for 2008, 2009,

and 2010 were each revised up by about 1/2 percentage point. The largest downward revisions in 2011 were in

motor vehicles and parts, in aerospace and miscellaneous transportation equipment, and in miscellaneous

manufacturing. The output of semiconductors is now reported to be stronger than previously estimated for 2007

through 2012. The stronger semiconductor index was the primary contributor to the upward revisions for overall

durables for 2008 through 2010 but only partly offset downward revisions elsewhere in 2011 and 2012.

Although overall production for durables has reached its pre-recession level, the recovery has not been

uniform across its major components. By February 2013, the indexes for machinery, for computer and electronic

2

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

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

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

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

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products, for motor vehicles and parts, and for miscellaneous manufacturing had all rebounded to above their

late-2007 levels. In contrast, the latest readings for the indexes for wood products, for nonmetallic mineral

products, and for furniture and related products were all more than 25 percent below their previous peaks.

After having increased 1.5 percent in 2010, the production of nondurable manufacturing industries

moved up 0.5 percent in 2011 and 0.9 percent in 2012. The gains in 2010 and 2011 are now estimated to be

about 1 percentage point slower than previously reported, whereas the increase in 2012 is little changed. The

downward revisions in 2010 and 2011 were broadly distributed among nondurables industries, with only paper

and printing showing improved growth rates from those previously reported. Among the major categories of

nondurables, only the indexes for food, beverage, and tobacco products and for petroleum and coal products

were near their pre-recession levels in February 2013; neither of these industries had shown much reduction in

output during the recession. The post-recession recovery has been particularly subdued for textiles and product

mills, for apparel and leather, and for printing and support; production in each remained at least 25 percent below

the pre-recession peaks. Likewise, although output fell about 20 percent from its pre-recession peak for the paper

industry, its production index in February 2013 was only up about 5 percent from the trough. Of the nondurable

goods industries most affected by the recession, the plastics and rubber products industry has shown the most

substantial recovery; it has reversed about 20 percentage points of its peak-to-trough decrease of 30 percent.

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

Classification System (NAICS) (that is, logging and publishing) fell each year from 2008 through 2012. The

declines since 2009, however, are now reported to have been less steep.

The output indexes for mining and utilities were little changed from those previously reported. Strong

increases in oil and natural gas extraction have boosted mining output in each of the last three years. After

moving up in 2007 and into 2008, mining output fell from mid-2008 through the end of 2009 to about 10 percent

below its previous peak. Mining output advanced substantially in 2010, 2011, and 2012; by February 2013,

mining output was about 10 percent above its 2008 peak. The index for utilities rose 2.7 percent in 2010, fell

back 2.3 percent in 2011, and was unchanged in 2012.

After increasing 27.2 percent in 2010, the output of high-technology industries—computers and

peripheral equipment, communications equipment, and semiconductors and related electronic

components—moved up 9.7 percent in 2011 and 2.3 percent in 2012 (table 3). These gains, as well as the rates

of change from 2007 to 2010, were higher than the previous estimates. More-rapid advances in the production of

microprocessors, which reflected greater improvements in chip quality than previously estimated, contributed

importantly to the upward revisions in every year since 2007 (discussed under technical notes).

Among the other components of the selected high-technology group, the index for computers and

peripherals is now estimated to have fallen between 15 and 20 percent in every year from 2009 to 2011. The

decline in 2011 was substantially steeper than previously reported as a result of incorporating data from the 2011

ASM. In 2011, the output of communications equipment is now reported to have increased 11.6 percent; the

index was previously reported to have decreased 1.0 percent. The level of the index in February 2013, however,

ended up only about 3 percent higher than previously estimated, as a downward revision to the index in 2009

delayed the start of the recovery and growth was slower in 2010 and 2012.

Production by Market Group

The production index for final products and nonindustrial supplies rose about 33/4 percent in 2010 and

about 21/2 percent in each of 2011 and 2012 (tables 2 and 7). Previously, the index was reported to have increased

about 4 percent in 2010 and 2011; the gain in 2012 is little changed from its previous estimate. Since mid-2009,

increases in this index have partially reversed the substantial losses during the recession: After having recorded a

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peak-to-trough decline of 17 percent, the index had recouped 11 percentage points of that loss by February 2013.

The production of consumer goods has rebounded slowly after the recession. The index edged up only

0.3 percent in 2010, but strengthened somewhat in 2011 and 2012, with gains of 2.0 percent and 1.3 percent,

respectively. By February 2013, the index had reversed about one-half of its decrease of 14 percent during the

recession. The improvements in both 2010 and 2011 are somewhat less than previously reported.

Downward revisions for consumer goods were concentrated in durables, but nonetheless the output of

durable consumer goods advanced 7.9 percent in 2011 and 6.6 percent in 2012. By February 2013, the index for

consumer durables had recouped 25 percentage points of its drop of 33 percent that occurred from mid-2007 to

mid-2009. Gains in the indexes for automotive products—particularly in 2011—and for miscellaneous durables

were the principal drivers of the rebound in consumer durables. By contrast, since the middle of 2009, the output

of home electronics has fallen substantially, on net, and the production index for appliances, furniture, and

carpeting has increased only modestly, with a gain of 3 percent in 2012 following increases of about 1 percent

both in 2010 and in 2011.

The index for consumer nondurables was little changed by the revision. Over the course of 2010 to 2012,

the production of consumer nondurables barely increased, on net, and, by February 2013, the index had

recovered only about 21/2 percentage points of its 10 percent peak-to-trough decrease. The output of non-energy

nondurables rose very slightly, on net, from 2010 through 2012. The output of foods and tobacco moved up each

year, with a gain of 2.2 percent in 2012 following increases of 0.7 percent in each of 2010 and 2011. After

having dropped substantially in 2008 and 2009, the output of clothing rose 11.4 percent in 2010, only to be

followed by decreases of 8.0 percent in 2011 and 2.4 percent in 2012. Production of chemical products has

fallen, on balance, since mid-2009, with a gain of 3 percent in 2011 sandwiched between losses of 3 percent in

2010 and 2012. Despite upward revisions for 2009 through 2012, the output of consumer paper products has

fallen every year since 2005, with its drop of 8.6 percent in 2012 outpacing even its decreases in 2008 and 2009.

The production of consumer energy products increased moderately in 2008, 2010, and 2012, but it decreased

moderately in 2009 and 2011; the rates of change for the index in 2010 and 2011 were about 3/4 percentage point

lower than previously reported.

Increases in the production of business equipment were somewhat lower in 2010 through 2012 than

previously reported. Even so, the index has risen substantially since the 2009 trough, with gains of 12 percent,

5 percent, and 7 percent for 2010, 2011, and 2012, respectively. By February 2013, the indexes for all three

major components of business equipment had increased to near their pre-recession peaks. Transit equipment,

which reached its trough in late 2008 after a rapid drop of nearly 50 percent, has climbed to within 6 percent of

its pre-recession peak, despite downward revisions to the index in 2011 and 2012. A gain of 7.8 percent in 2012

for information processing equipment followed increases of 1.4 percent in 2011 and 3.5 percent in 2010; the

index was revised downward in 2010 and 2011 as a result of lower estimates for computer output. The index for

information processing equipment fell 17 percent from peak to trough and had reversed 12 percentage points of

that decline by February 2013. The production of industrial and other equipment is somewhat stronger than

previously reported for 2010 and 2011. After having surged 16.4 percent in 2010, output rose 6.0 percent in 2011

and 4.5 percent in 2012. Despite having fallen 26 percent from early 2008 to mid-2009, the index for industrial

and other equipment has essentially returned to its pre-recession level.

The production of defense and space equipment increased substantially in both 2010 and 2012; it fell

slightly in both 2009 and 2011, and decreased more notably in 2008. Relative to the previous estimates, the rates

of change for 2008, 2010, and particularly 2011 were lower, but the rates of change for 2009 and 2012 were

higher.

Relative to the previous estimates, the output of construction supplies advanced more slowly in 2010 and

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2011 but moved up more rapidly in 2012. With gains of 8.1 percent in 2010, 2.7 percent in 2011, and 4.4 percent

in 2012, the index for construction supplies had reversed only 15 percentage points of its peak-to-trough drop of

35 percent by February 2013. Similarly, the index for business supplies has reversed less than one-half of its

decline during the recession, though its peak-to-trough decrease of 16 percent was much less than that for

construction supplies. Business supplies posted increases of 2.3 percent in 2010, 0.7 percent in 2011, and

1.6 percent in 2012; the gain in 2011 was lower than previously reported.

The index for materials was little changed by this revision. After decreases of 9.0 percent in 2008 and

4.4 percent in 2009, output advanced 9.4 percent in 2010, 4.3 percent in 2011, and 2.9 percent in 2012. The

index for materials in February 2013 was 3 percent above its pre-recession level; it had fallen 17 percent from

late 2007 to mid-2009.

In February 2013, the indexes for both durable goods materials and energy materials were above their

pre-recession levels. The production of nondurable goods materials, by contrast, had recovered less than one-half

of its drop-off during the recession and remained more than 10 percent below its 2007 peak. All of the categories

of durable goods materials increased substantially over 2010 to 2012, with the largest gains coming in 2010. The

index for durable goods materials was revised upward in each year from 2008 to 2012 and stood about 4 percent

higher in February 2013 than was previously estimated. The faster rates of increase in each year were more than

accounted for by upward revisions to the production of semiconductors. In contrast, among the components of

nondurable materials, only chemical materials has recovered even one-half of its losses during the recession.

Output for this group began increasing in early 2009 and rose about 5 percent in 2009 and 2010; it slipped

1.6 percent in 2011 and went back up 3.5 percent in 2012. The index for textile materials initially moved up after

the recession, advancing 4.9 percent in 2010, but it fell off in both 2011 and 2012. The output of paper materials

moved up 0.8 percent in 2010 but decreased by 1.3 percent in 2011 and 2.2 percent in 2012; its level in February

2013 was only slightly above its trough in 2009. Gains in oil and natural gas extraction have contributed to

substantial increases for energy materials over the past three years; the index advanced 5.9 percent in 2010,

4.8 percent in 2011, and 2.6 percent in 2012. The decrease in energy materials output during the recession was

relatively mild, and the index stood about 8 percent above its mid-2008 peak in February 2013.

Capacity

Total industrial capacity edged down in 2009, declined further in 2010, and then expanded in 2011 and

2012 (table 5). Capacity is expected to expand further in 2013. Relative to previous estimates, the decrease in

total industrial capacity in 2009 is now shallower and the gains in 2011 and 2012 are somewhat larger.

Following declines in 2009 and 2010, manufacturing capacity began to expand in 2011, with a step-up in

the pace of the gains in 2012. Manufacturing capacity is expected to increase further in 2013. Relative to earlier

estimates, the rate of change for manufacturing capacity is higher in each year from 2009 to 2012, and is

expected to be lower in 2013. As a result of the faster rates of change from 2009 to 2012, the revised level of

capacity in the fourth quarter of 2012 is 1.6 percent higher than the earlier estimate. Capacity in durable

manufacturing industries declined in 2009 and 2010 and then expanded by about 21/2 percent in 2011 and 2012,

with a similarly sized gain expected in 2013. For nondurable manufacturing, capacity contracted in 2009 and

2010, declined a bit less steeply in 2011, and then rebounded modestly in 2012; a moderate expansion is also

expected in 2013. Capacity in high-technology industries advanced in each year from 2009 to 2012, and it is

expected to expand further in 2013; these advances, particularly in 2010 and 2011, are now reported to be

substantially larger than previously estimated. Upward revisions to high-technology capacity more than

accounted for the upward revisions to manufacturing capacity; excluding these industries, the level of

manufacturing capacity at the end of 2012 was about the same as previously estimated.

Capacity at mines jumped in 2009, fell back slightly in 2010, and then expanded rapidly in 2011 and

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2012; further gains are expected in 2013. Relative to previous estimates, the increases in 2011 and 2012 are now

larger. Capacity at utilities increased in each year from 2009 to 2012, with another increase expected in 2013;

these gains are now reported to be smaller, especially in 2010 and 2011, than stated previously.

By stage of processing, capacity in the crude stage increased in 2009, fell in 2010, and recorded solid

gains in 2011 and 2012; capacity is expected to increase in 2013. Relative to previous estimates, capacity for the

crude stage contracted more sharply in 2010 and expanded more rapidly in 2011 and 2012. Capacity at the

primary and semifinished stage declined in 2009 and 2010 before recording moderate increases in 2011 and

2012; another modest expansion is expected in 2013. Relative to previous estimates, capacity at the primary and

semifinished stage is now reported to have increased more rapidly, on average, for 2009 to 2012 but is now

expected to expand somewhat less in 2013. For finished goods industries, capacity declined in 2009 and 2010,

began to expand in 2011, and then increased more briskly in 2012. Capacity for producers of finished goods is

expected to increase in 2013. The rates of change for capacity in the finished goods stage were similar to the

previous estimates.

Capacity Utilization

In 2009, the rate of capacity utilization for total industry, at 69.7 percent, was 10.5 percentage points

below its long-run (1972–2012) average of 80.2 percent (table 6).4 Utilization rates rose rapidly through 2010,

with further gains reported in 2011 and 2012. In 2012, capacity utilization for total industry was 77.5 percent, a

rate 2.7 percentage points below its long-run average. Compared with earlier estimates, capacity utilization for

total industry is now reported to have been lower in 2011 and 2012.

The capacity utilization rate for manufacturing rose briskly in 2010; smaller gains were recorded in 2011

and 2012. Relative to previous reports, the pace of capacity expansion is higher and rates of change for factory

output are, on average, lower; consequently, the factory operating rate is now estimated to have been lower in

2011 and 2012. At 75.7 percent, the rate for 2012 was 1.5 percentage points below its earlier estimate and

3.0 percentage points below its long-run average. The utilization rate for durable manufacturing has risen in

recent years, from 62.8 percent in 2009 to 75.5 percent in 2012, but the gains in 2011 and 2012 are now

somewhat smaller than reported earlier. The utilization rate for nondurable manufacturing increased less steeply

than that for durable manufacturing; it rose from 72.1 percent in 2009 to 77.2 percent in 2012. The rates for

nondurables in 2010, 2011, and 2012 are now reported to have been lower than previously estimated.

As of 2012, most major manufacturing industry groups were still operating at rates below their

industry-specific long-run averages. For nondurable manufacturing industries, each of the eight industry groups

shown in table 6 was operating at a rate below its long-run average, with the rates for textile and product mills,

for apparel and leather, for printing and support, and for plastics and rubber products well below their long-run

averages. Among durable goods manufacturers, three of the eleven industry groups in table 6 were operating at

utilization rates above their long-run averages: fabricated metal products, machinery, and miscellaneous

manufacturing.

Capacity utilization in mining surged in 2010 and continued to increase in 2011; utilization fell back

slightly in 2012 but remained high. The rates in 2011 and especially in 2012 are now lower than reported earlier.

Nevertheless, the operating rate for mining in 2012 was 1.1 percentage points above its long-run average. The

revised operating rates for utilities are higher than previously estimated for the 2010–12 period, but the rate at the

end of 2012 was still 8.5 percentage points below its long-run average.

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

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TECHNICAL ASPECTS OF THE REVISION

This revision incorporated new comprehensive data from the 2011 ASM and revised data from the 2010

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

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

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

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

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

index for manufacturing but no longer included in manufacturing under NAICS) were updated through 2011

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

The revised IP indexes incorporated information from the QSPC for 2012 and from other industry

reports. The indexes also incorporated revised monthly and quarterly source data on production, shipments, and

inventories.

Annual Benchmark Output Indexes

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

by a price index—is constructed for each six-digit industry defined by the 2007 NAICS.

The benchmark indexes of production are measures of real gross output. The Census Bureau provides

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

output.6 The benchmark indexes for this revision incorporated new estimates of nominal gross output for 2011,

as well as revisions to the 2010 estimates, from the ASM. The IP index is a Fisher index that aggregates the

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

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

industry shipments deflators, most recently issued by the BEA in December 2012. The BEA deflators are

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

applied to the detailed nominal gross output data.

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

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

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

calculated by allocating the data from these combined industries to their six-digit components; the shares for

each year were computed from a linear interpolation between the shares reported in the 2002 and the 2007

Economic Censuses. Data from the 2008, 2009, 2010, and 2011 ASMs were allocated to the component six-digit

industries solely based on shares from the 2007 Economic Census.

Changes to annual benchmarks for semiconductors

The industrial production indexes for semiconductors use monthly shipments data from the

Semiconductor Industry Association (SIA) deflated by a price index. This revision updates the methods for

calculating the price index used in the output index for microprocessors (MPUs) (NAICS 334413, part). The

updated methods also affect the price index for metal-oxide semiconductor (MOS) logic chips excluding MPUs

(NAICS 334413, part).

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

constructed by the Federal Reserve from alternative sources. Table 14 lists annual and quarterly price indexes for the networking equipment component of communications

equipment.

6Historically, the Census Bureau also provided measures of the cost of resales at the six-digit level and those were included in the nominal benchmark. In recent years,

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

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As in the construction of other price indexes used in the G.17 statistics, the price index for MPUs is

composed of an annual benchmark deflator combined with a monthly price indicator. Prior to this revision, both

the annual benchmark deflator and the monthly deflator for MPUs came from the BLS’s Producer Price Index

(PPI) for MPUs. With this revision, the Federal Reserve incorporated new data for the annual benchmark

deflator for MPUs but continued to use the PPI as the monthly price indicator.

The new MPU annual benchmark deflator covers the period beginning in 2007 and is developed using a

hedonic regression. Hedonic price indexes use data on product characteristics to remove the effect on prices of

changing product quality. The hedonic index includes prices for specific MPU models that were collected from

published wholesale price lists from Intel Corporation. Information on the relative quality of the chips came

from measures of MPU performance for specific representative tasks estimated by the System Performance

Evaluation Corporation (SPEC), a non-profit corporation that publishes these measures as a service to the

technology industry and user communities.

The hedonic model is a regression of the specific MPU prices on a constructed measure of performance

derived from the SPEC measures along with other control variables and quarterly time indicator variables.

Coefficients on the time indicators were used to construct a price index.7 The new annual hedonic price index

falls substantially more than the previously used annual price deflator derived from the PPI, and the result is a

notable increase in MPU output beginning in 2007.

The price deflator for the industrial production index for MOS logic excluding MPUs is a geometric

mean of a Fisher price index constructed from monthly SIA data for chips in this category, the price index for

MPUs, and the price index for MOS memory chips. Because the changes to the price index for MPUs imply

more-rapid price declines in recent years, the output index for MOS logic excluding MPUs, which relies on this

price deflator, registered stronger gains.

Changes to annual benchmarks for communications equipment

Industrial production for communications equipment (NAICS 3342) is organized into six component

indexes. For the years when detailed U.S. Census Bureau Current Industrial Reports (CIR) were available, the

benchmark indexes for each of the six components used disaggregate product information to construct a measure

of nominal output. With this revision, some product categories have been reassigned. Previously, nominal output

of“other communications systems and equipment” had been assigned to the category for radio and TV

broadcasting equipment, which was deflated by the relevant PPI; with this revision, these products were assigned

to the wireless system equipment category, which is deflated by a price index developed by the Federal Reserve.

Changes to Individual Production Series

Several production indicators were affected by methodological changes in this revision. In particular,

new indicators were found for some industries whose high-frequency movements had been based on data from

the CIR, which were discontinued in mid-2011.

Soybean and other oilseed processing

With this revision, the IP index for soybean and other oilseed processing (NAICS 311222 and 311223)

uses data on soybean and cottonseed products as the primary indicator of output. This revision incorporates

monthly production data for soybean oil and for soybean meal from the National Oilseed Processors Association

(NOPA) and monthly production data for cottonseed oil and cottonseed meal from the National Cottonseed

Products Association (NCPA). For many years, the Federal Reserve used monthly information on soybean and

7Additional details on the construction of the price index can be found on the Federal Reserve’s website at www.federalreserve.gov/releases/g17/MpuPriceIndex.htm.

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cottonseed products from the CIR. With the 2012 annual revision, the industrial production index used

production-worker hours to extend the CIR data. With this revision, the NOPA and the NCPA information will

be used to extend the CIR data.

Brick and structural clay tile

The index for brick and structural clay tile (NAICS 327121) is based on monthly data on unit production

of bricks from the Brick Industry Association (BIA). For the period through 2006, this index is based on

quarterly production data from the CIR. With the 2012 annual revision, the industrial production index used

production-worker hours to extend the CIR data beginning in mid-2011, but now the monthly BIA data are used

for the period from 2007 to the present.

Speed changers, drives, gears, and power transmission

This revision incorporates monthly data on shipments of gears from the American Gear Manufacturers

Association (AGMA) as a primary measure of output for the index for speed changers, drives, gears, and power

transmissions (NAICS 333612 and 333613) for the period beginning with 2004. The AGMA data include

information on coarse pitch and fine pitch gears, on worm/speed reducers and gearmotors, on concentric

gearmotors, and on shaft-mounted speed reducers. Previously, the Federal Reserve estimated output for this

index from production-worker hours.

Periodical publishers

The IP index for periodical publishers (NAICS 51112) has been updated with this revision. Previously,

output was inferred from monthly production-worker hour data from the BLS. This revision incorporates

quarterly data back to 2003 on total operating revenue for periodical publishers from the U.S. Census Bureau’s

Quarterly Services Survey.

Weights for Aggregation

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

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

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

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

prices for the period after 2011. Table 12 shows the annual value-added proportions in the IP index from 2005

through 2012.

Revised Quarterly and Monthly Data

This revision incorporates product data that became available or were revised after the regular six-month

reporting window for monthly IP was closed. These data were released with too great of a lag to be included

with monthly IP estimates but were available for inclusion in the annual revision.

Revised Seasonal Factors

Seasonal factors for production-worker hours—which adjust for timing, holiday, and monthly seasonal

patterns—were updated with data through January 2013. The updated factors for the physical product series,

which include adjustments for holiday and workday patterns, used data through December 2012 where available.

Seasonal factors for unit motor vehicle assemblies have been updated, and projections through September 2013

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

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

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

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

Data Availability and Publication Changes

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

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

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

utilization.

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

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

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

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

available on the Board’s website.

10
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

 55

 60

 65

 70

 75

 80

 90

100

110

120

130

Capacity

Production

Revised

Earlier

Ratio scale, 2007 output = 100

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

62

66

70

74

78

82

86

Utilization

Percent of capacity

11
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

 50

 55

 60

 65

 70

 80

 90

100

110

120

130

Capacity

Production

Revised

Earlier

Ratio scale, 2007 output = 100

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

62

66

70

74

78

82

86

Utilization

Percent of capacity

12
 3. Industrial production and capacity utilization

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

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

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

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

 55

 60

 65

 70

 75

 80

 85

 90

 95

 100

 105

Excluding

high-technology

industries

Total IP

 Industrial production Ratio scale, 2007 output = 100 

1990 1995 2000 2005 2010

 50

 60

 70

 80

 90

 100

High-technology

industries

Excluding

high-technology

industries

 Capacity utilization Percent of capacity 

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

 -20

 -15

 -10

 -5

 0

 5

 10

 15

Total IP

Excluding the

contribution

of high-technology

industries

 Industrial production Percent change from year earlier 

2004 2006 2008 2010 2012

 40

 60

 80

 100

 150

 200

 250

Computers

Communications

 eq.

Semiconductors

 Industrial production Ratio scale, 2007 = 100 

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

4. Consumer goods

Total Ratio scale, 2007 output = 100

 60

 70

 80

 90

100

110

Revised

Earlier

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

Components of consumer goods Ratio scale, 2007 output = 100

 45

 65

 85

105

125

Durable

Nondurable

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

Revised durable

Revised nondurable

Earlier

Detail: 2010 to present

80

85

90

95

100

2010 2011 2012 2013

Detail: 2010 to present

65

70

75

80

85

90

95

100

105

2010 2011 2012 2013

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

5. Equipment

Total Ratio scale, 2007 output = 100

 30

 50

 70

 90

110

130

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

homes.

Revised

Earlier

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

Business equipment Ratio scale, 2007 output = 100

 20

 40

 60

 80

100

120

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

Defense and space equipment Ratio scale, 2007 output = 100

 60

 80

100

120

140

160

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

Detail: 2010 to present

 75

 85

 95

105

115

2010 2011 2012 2013

Detail: 2010 to present

 75

 85

 95

105

115

2010 2011 2012 2013

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

6. Nonindustrial supplies

Total Ratio scale, 2007 output = 100

 50

 70

 90

110

Revised

Earlier

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

Construction supplies Ratio scale, 2007 output = 100

 50

 70

 90

110

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

Business supplies Ratio scale, 2007 output = 100

 50

 70

 90

110

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

Detail: 2010 to present

 75

 80

 85

 90

2010 2011 2012 2013

Detail: 2010 to present

 65

 70

 75

 80

 85

 90

2010 2011 2012 2013

Detail: 2010 to present

 80

 85

 90

 95

100

2010 2011 2012 2013

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

7. Industrial materials

Total Ratio scale, 2007 output = 100

 50

 70

 90

110

Revised

Earlier

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

Energy materials Ratio scale, 2007 output = 100

 60

 80

100

120

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

Non-energy materials Ratio scale, 2007 output = 100

 40

 60

 80

100

120

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

Detail: 2010 to present

80

85

90

95

100

105

2010 2011 2012 2013

17
8. Capacity utilization by stage of process

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

 70

 75

 80

 85

 90

 95

100

Crude processing

Revised

Earlier

Capacity utilization Percent of capacity

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

60

65

70

75

80

85

90

95

Primary and 

semifinished processing

Capacity utilization Percent of capacity

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

60

65

70

75

80

85

90

Finished processing

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

Capacity utilization Percent of capacity

18
Table 1A

INDUSTRIAL PRODUCTION: Total

Seasonally adjusted

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

IP (percent

change)

1983 1.9 -.6 .8 1.2 .7 .5 1.5 1.1 1.5 .8 .3 .5 4.7 9.2 14.2 10.7 2.7

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

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

1986 .5 -.7 -.6 .1 .2 -.3 .6 -.2 .2 .5 .5 .9 2.4 -2.3 1.6 4.5 1.0

1987 -.3 1.3 .2 .6 .7 .5 .6 .7 .3 1.5 .5 .5 5.4 7.3 7.4 10.2 5.2

1988 .0 .4 .2 .5 -.1 .2 .1 .4 -.3 .5 .2 .4 3.6 3.4 1.7 2.8 5.2

1989 .3 -.4 .3 .0 -.7 .1 -1.0 .9 -.3 -.1 .3 .6 1.7 -1.3 -2.6 1.6 .9

1990 -.6 .9 .5 -.1 .2 .3 -.1 .3 .2 -.8 -1.2 -.7 2.8 3.1 1.6 -6.1 1.0

1991 -.4 -.6 -.5 .2 1.0 1.0 .0 .1 .9 -.2 -.1 -.4 -7.4 2.4 5.5 .9 -1.5

1992 -.6 .8 .8 .7 .4 .0 .9 -.5 .2 .8 .4 .0 -.5 7.2 2.9 4.3 2.8

1993 .5 .4 .0 .3 -.4 .2 .3 .0 .5 .7 .4 .5 3.6 .9 1.9 6.1 3.3

1994 .4 .1 1.0 .5 .5 .7 .2 .6 .3 .9 .6 1.0 5.1 7.5 5.2 8.5 5.3

1995 .2 -.1 .2 .0 .3 .4 -.4 1.3 .4 -.2 .3 .4 4.5 1.4 3.8 3.3 4.7

1996 -.7 1.6 -.2 .8 .7 .9 -.1 .7 .5 .0 .8 .6 2.8 8.4 5.3 5.5 4.4

1997 .1 1.2 .8 .0 .7 .5 .6 1.3 .9 .7 .9 .4 7.8 6.5 9.7 10.1 7.2

1998 .5 .1 .1 .4 .7 -.6 -.4 2.1 -.3 .8 -.1 .4 4.5 2.9 2.9 5.5 5.8

1999 .4 .4 .2 .2 .7 -.2 .7 .4 -.3 1.3 .5 .8 4.1 3.9 4.0 7.6 4.3

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

2001 -.7 -.6 -.3 -.3 -.7 -.7 -.4 -.3 -.3 -.5 -.5 .0 -5.6 -5.3 -5.5 -4.5 -3.4

2002 .6 .0 .7 .4 .5 1.0 -.3 .1 .1 -.3 .5 -.5 2.7 6.5 2.4 -.2 .2

2003 .7 .4 -.2 -.8 .0 .0 .4 -.1 .6 .0 .8 -.1 3.1 -3.3 1.9 3.3 1.2

2004 .3 .6 -.5 .4 .7 -.8 .8 .2 .0 1.0 .2 .7 2.8 1.8 2.5 5.7 2.3

2005 .4 .6 -.1 .1 .2 .4 -.1 .1 -2.0 1.2 1.0 .6 5.4 2.1 -1.5 3.2 3.2

2006 .1 .1 .3 .4 -.1 .4 .0 .2 -.1 -.1 -.1 1.0 3.8 2.6 1.5 .6 2.2

2007 -.5 1.1 .1 .7 .1 .0 .0 .1 .4 -.5 .6 .0 3.8 4.8 1.1 1.0 2.5

2008 -.3 -.2 -.3 -.8 -.5 -.2 -.5 -1.6 -4.2 .8 -1.2 -2.8 -1.4 -5.5 -12.1 -15.9 -3.4

2009 -2.2 -.6 -1.5 -.8 -1.0 -.4 .9 1.1 .7 .3 .5 .5 -19.8 -10.9 4.9 6.6 -11.3

2010 1.1 .4 .8 .3 1.6 .2 .6 .3 .3 -.3 .3 1.0 8.5 8.7 6.2 1.7 5.7

2011 -.1 -.5 1.0 -.6 .4 .2 .6 .5 .1 .6 .2 .6 2.6 1.0 5.0 4.7 3.4

2012 .7 .5 -.5 .7 .3 .0 .4 -.8 .2 -.1 1.2 .1 5.4 2.9 .3 2.4 3.6

2013 .1 .8

IP (2007=100)

1983 47.7 47.4 47.8 48.4 48.7 49.0 49.8 50.3 51.1 51.5 51.6 51.9 47.7 48.7 50.4 51.7 49.6

1984 52.9 53.2 53.5 53.8 54.1 54.2 54.4 54.5 54.4 54.3 54.5 54.6 53.2 54.0 54.4 54.5 54.0

1985 54.4 54.7 54.7 54.6 54.7 54.7 54.3 54.6 54.8 54.6 54.8 55.3 54.6 54.7 54.6 54.9 54.7

1986 55.6 55.2 54.9 54.9 55.0 54.8 55.2 55.0 55.1 55.4 55.6 56.1 55.2 54.9 55.1 55.7 55.2

1987 56.0 56.7 56.8 57.1 57.5 57.8 58.2 58.6 58.7 59.6 60.0 60.2 56.5 57.5 58.5 59.9 58.1

1988 60.3 60.5 60.6 61.0 60.9 61.1 61.1 61.4 61.2 61.5 61.6 61.9 60.5 61.0 61.2 61.7 61.1

1989 62.0 61.8 62.0 62.0 61.6 61.6 61.0 61.5 61.4 61.3 61.5 61.9 61.9 61.7 61.3 61.6 61.6

1990 61.5 62.1 62.4 62.3 62.4 62.6 62.6 62.7 62.9 62.4 61.6 61.2 62.0 62.5 62.7 61.7 62.2

1991 60.9 60.5 60.2 60.3 60.9 61.5 61.5 61.6 62.1 62.0 61.9 61.7 60.6 60.9 61.7 61.9 61.3

1992 61.3 61.8 62.3 62.7 63.0 63.0 63.5 63.2 63.3 63.8 64.1 64.1 61.8 62.9 63.3 64.0 63.0

1993 64.4 64.6 64.6 64.8 64.6 64.7 64.9 64.9 65.2 65.7 65.9 66.3 64.6 64.7 65.0 66.0 65.1

1994 66.5 66.6 67.3 67.6 68.0 68.4 68.6 68.9 69.2 69.8 70.2 70.9 66.8 68.0 68.9 70.3 68.5

1995 71.1 71.0 71.2 71.1 71.3 71.6 71.3 72.2 72.5 72.4 72.6 72.8 71.1 71.3 72.0 72.6 71.8

1996 72.4 73.5 73.4 74.0 74.5 75.2 75.1 75.6 76.0 76.0 76.6 77.1 73.1 74.6 75.6 76.6 74.9

1997 77.2 78.1 78.7 78.8 79.3 79.7 80.1 81.2 81.9 82.5 83.2 83.5 78.0 79.2 81.1 83.1 80.4

1998 83.9 84.0 84.1 84.4 84.9 84.4 84.1 85.9 85.6 86.3 86.2 86.5 84.0 84.6 85.2 86.3 85.0

1999 86.9 87.3 87.5 87.7 88.3 88.1 88.7 89.1 88.9 90.0 90.4 91.2 87.2 88.0 88.9 90.5 88.7

2000 91.2 91.6 91.9 92.5 92.7 92.7 92.5 92.3 92.7 92.3 92.3 92.0 91.6 92.6 92.5 92.2 92.2

2001 91.3 90.8 90.5 90.3 89.6 89.0 88.6 88.4 88.1 87.7 87.2 87.2 90.9 89.6 88.4 87.4 89.1

2002 87.8 87.7 88.4 88.7 89.2 90.1 89.8 89.9 89.9 89.6 90.1 89.7 88.0 89.3 89.9 89.8 89.3

2003 90.4 90.7 90.5 89.8 89.8 89.8 90.1 90.0 90.5 90.5 91.2 91.1 90.5 89.8 90.2 90.9 90.3

2004 91.4 91.9 91.4 91.8 92.4 91.7 92.4 92.6 92.6 93.5 93.7 94.3 91.5 92.0 92.5 93.8 92.5

2005 94.7 95.3 95.2 95.3 95.5 95.9 95.8 95.9 94.0 95.2 96.1 96.7 95.1 95.6 95.2 96.0 95.5

2006 96.8 96.8 97.1 97.4 97.3 97.7 97.8 98.0 97.8 97.7 97.6 98.6 96.9 97.5 97.9 98.0 97.6

2007 98.2 99.3 99.3 100.1 100.1 100.1 100.1 100.3 100.7 100.2 100.8 100.8 98.9 100.1 100.4 100.6 100.0

2008 100.5 100.3 100.0 99.2 98.8 98.6 98.1 96.5 92.5 93.2 92.2 89.6 100.3 98.9 95.7 91.7 96.6

2009 87.5 87.0 85.7 84.9 84.1 83.8 84.5 85.4 86.0 86.2 86.6 87.0 86.7 84.3 85.3 86.6 85.7

2010 88.0 88.3 89.0 89.3 90.7 90.9 91.4 91.6 91.9 91.6 91.8 92.7 88.4 90.3 91.6 92.0 90.6

2011 92.6 92.2 93.1 92.6 92.9 93.1 93.6 94.1 94.2 94.7 95.0 95.5 92.6 92.9 94.0 95.1 93.6

2012 96.2 96.7 96.1 96.9 97.1 97.1 97.6 96.8 97.0 96.8 98.0 98.2 96.3 97.0 97.1 97.7 97.0

2013 98.3 99.0

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

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

19
Table 1B

CAPACITY AND UTILIZATION: Total

Seasonally adjusted

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

Capacity

(percent of

2007 output)

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

1984 66.5 66.6 66.7 66.8 66.9 67.1 67.2 67.3 67.5 67.7 67.8 68.0 66.6 66.9 67.3 67.8 67.2

1985 68.2 68.3 68.5 68.7 68.8 69.0 69.2 69.3 69.4 69.5 69.7 69.7 68.3 68.8 69.3 69.6 69.0

1986 69.8 69.9 70.0 70.0 70.1 70.2 70.2 70.3 70.4 70.5 70.6 70.7 69.9 70.1 70.3 70.6 70.2

1987 70.8 70.9 71.1 71.2 71.4 71.5 71.7 71.8 71.9 72.0 72.1 72.2 70.9 71.4 71.8 72.1 71.6

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

1989 72.8 72.9 73.0 73.2 73.3 73.4 73.6 73.8 73.9 74.1 74.3 74.4 72.9 73.3 73.8 74.3 73.6

1990 74.6 74.8 74.9 75.1 75.2 75.4 75.5 75.7 75.8 75.9 76.0 76.1 74.8 75.2 75.6 76.0 75.4

1991 76.2 76.4 76.4 76.5 76.6 76.7 76.8 76.9 77.0 77.0 77.1 77.2 76.3 76.6 76.9 77.1 76.7

1992 77.3 77.5 77.6 77.7 77.9 78.1 78.2 78.4 78.6 78.8 78.9 79.1 77.5 77.9 78.4 78.9 78.2

1993 79.2 79.4 79.5 79.6 79.7 79.8 79.9 80.0 80.1 80.3 80.4 80.6 79.4 79.7 80.0 80.4 79.9

1994 80.7 80.9 81.1 81.3 81.5 81.8 82.0 82.3 82.6 82.9 83.2 83.5 80.9 81.5 82.3 83.2 82.0

1995 83.8 84.0 84.4 84.7 85.0 85.3 85.6 85.9 86.2 86.6 86.9 87.3 84.1 85.0 85.9 86.9 85.5

1996 87.7 88.1 88.4 88.8 89.2 89.6 90.0 90.4 90.9 91.3 91.7 92.2 88.1 89.2 90.5 91.7 89.9

1997 92.6 93.1 93.6 94.1 94.6 95.1 95.7 96.2 96.8 97.4 98.1 98.7 93.1 94.6 96.2 98.1 95.5

1998 99.4 100.0 100.7 101.3 102.0 102.6 103.2 103.7 104.3 104.8 105.3 105.8 100.0 102.0 103.7 105.3 102.8

1999 106.2 106.7 107.1 107.6 108.0 108.4 108.8 109.2 109.6 110.1 110.5 110.9 106.7 108.0 109.2 110.5 108.6

2000 111.2 111.6 112.0 112.4 112.8 113.1 113.5 113.9 114.2 114.5 114.9 115.2 111.6 112.8 113.8 114.9 113.3

2001 115.6 115.9 116.2 116.5 116.8 117.1 117.4 117.7 117.9 118.2 118.4 118.6 115.9 116.8 117.7 118.4 117.2

2002 118.8 119.0 119.1 119.2 119.3 119.4 119.4 119.4 119.4 119.4 119.3 119.3 119.0 119.3 119.4 119.3 119.2

2003 119.2 119.2 119.1 119.1 119.0 119.0 118.9 118.9 118.8 118.8 118.8 118.7 119.2 119.0 118.9 118.8 119.0

2004 118.7 118.7 118.7 118.6 118.6 118.6 118.6 118.6 118.6 118.6 118.7 118.7 118.7 118.6 118.6 118.7 118.6

2005 118.8 118.9 119.1 119.2 119.4 119.5 119.7 119.9 120.0 120.2 120.4 120.5 118.9 119.4 119.9 120.4 119.6

2006 120.7 120.9 121.0 121.2 121.3 121.5 121.7 121.9 122.2 122.4 122.7 122.9 120.9 121.4 121.9 122.7 121.7

2007 123.2 123.4 123.7 124.0 124.2 124.4 124.6 124.7 124.8 124.8 124.9 124.8 123.4 124.2 124.7 124.8 124.3

2008 124.8 124.7 124.7 124.6 124.5 124.5 124.5 124.5 124.6 124.7 124.8 124.9 124.7 124.5 124.6 124.8 124.7

2009 125.0 125.1 125.1 125.2 125.2 125.1 125.1 124.9 124.8 124.6 124.3 124.1 125.1 125.2 124.9 124.3 124.9

2010 123.8 123.5 123.3 123.0 122.7 122.4 122.2 122.0 121.9 121.8 121.7 121.6 123.5 122.7 122.0 121.7 122.5

2011 121.6 121.7 121.8 121.9 122.0 122.2 122.4 122.6 122.8 123.1 123.3 123.6 121.7 122.0 122.6 123.3 122.4

2012 123.9 124.1 124.3 124.6 124.8 125.0 125.2 125.4 125.6 125.8 126.0 126.2 124.1 124.8 125.4 126.0 125.1

2013 126.4 126.6

Utilization (percent)

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

1984 79.6 79.9 80.1 80.5 80.8 80.9 81.0 80.9 80.6 80.3 80.4 80.3 79.9 80.7 80.8 80.3 80.4

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

1986 79.6 79.0 78.4 78.4 78.4 78.1 78.5 78.3 78.3 78.6 78.8 79.4 79.0 78.3 78.4 79.0 78.7

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

1988 83.4 83.7 83.8 84.2 84.1 84.3 84.4 84.7 84.4 84.7 84.8 85.1 83.6 84.2 84.5 84.9 84.3

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

1990 82.4 83.0 83.3 83.0 83.0 83.1 82.8 82.9 82.9 82.2 81.1 80.4 82.9 83.0 82.9 81.2 82.5

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

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

1993 81.3 81.5 81.3 81.4 81.0 81.1 81.2 81.1 81.4 81.8 82.0 82.3 81.3 81.2 81.2 82.0 81.4

1994 82.4 82.3 82.9 83.2 83.4 83.7 83.6 83.8 83.7 84.2 84.4 85.0 82.6 83.4 83.7 84.5 83.6

1995 84.9 84.5 84.4 84.0 83.9 83.9 83.3 84.1 84.1 83.6 83.5 83.4 84.6 84.0 83.8 83.5 84.0

1996 82.5 83.5 83.0 83.3 83.5 83.9 83.4 83.6 83.6 83.2 83.5 83.6 83.0 83.6 83.5 83.5 83.4

1997 83.3 83.9 84.1 83.7 83.9 83.8 83.8 84.4 84.6 84.6 84.8 84.6 83.8 83.8 84.3 84.7 84.1

1998 84.4 84.0 83.5 83.3 83.3 82.3 81.5 82.8 82.1 82.3 81.9 81.8 84.0 82.9 82.1 82.0 82.8

1999 81.8 81.8 81.6 81.5 81.8 81.3 81.5 81.6 81.0 81.8 81.9 82.2 81.7 81.5 81.4 82.0 81.6

2000 82.0 82.0 82.1 82.3 82.2 81.9 81.5 81.0 81.2 80.6 80.3 79.8 82.0 82.1 81.2 80.2 81.4

2001 79.0 78.3 77.9 77.5 76.7 76.0 75.5 75.1 74.7 74.2 73.6 73.5 78.4 76.7 75.1 73.8 76.0

2002 73.9 73.7 74.2 74.4 74.8 75.5 75.2 75.3 75.3 75.1 75.5 75.2 73.9 74.9 75.3 75.3 74.8

2003 75.8 76.1 76.0 75.4 75.4 75.5 75.8 75.7 76.2 76.2 76.8 76.7 76.0 75.4 75.9 76.5 76.0

2004 77.0 77.4 77.0 77.4 77.9 77.3 77.9 78.1 78.1 78.8 78.9 79.4 77.1 77.5 78.0 79.1 77.9

2005 79.7 80.1 80.0 80.0 80.0 80.2 80.0 80.0 78.3 79.2 79.8 80.2 79.9 80.1 79.4 79.7 79.8

2006 80.2 80.1 80.2 80.4 80.2 80.4 80.3 80.3 80.1 79.9 79.6 80.2 80.2 80.3 80.3 79.9 80.2

2007 79.7 80.4 80.3 80.7 80.6 80.5 80.4 80.4 80.7 80.3 80.7 80.8 80.1 80.6 80.5 80.6 80.5

2008 80.5 80.4 80.2 79.6 79.3 79.2 78.8 77.5 74.2 74.8 73.9 71.7 80.4 79.4 76.8 73.5 77.5

2009 70.0 69.6 68.5 67.9 67.2 66.9 67.6 68.3 68.9 69.2 69.7 70.1 69.4 67.3 68.3 69.7 68.7

2010 71.0 71.5 72.2 72.6 73.9 74.2 74.8 75.1 75.4 75.2 75.5 76.2 71.6 73.6 75.1 75.6 74.0

2011 76.1 75.7 76.5 76.0 76.1 76.2 76.5 76.8 76.7 77.0 77.0 77.3 76.1 76.1 76.7 77.1 76.5

2012 77.7 77.9 77.3 77.7 77.8 77.7 77.9 77.2 77.2 77.0 77.8 77.8 77.6 77.7 77.4 77.5 77.6

2013 77.8 78.3

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

20
Table 2

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY: 2008–121

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2008 2009 2010 2011 2012 2008 2009 2010 2011 2012

Total IP -8.9 -5.5 6.2 3.3 2.7 .1 .2 -.1 -.7 -.2

MARKET GROUPS

Final products and nonindustrial supplies -8.9 -6.3 3.7 2.4 2.6 -.1 .3 -.5 -1.4 -.1

Consumer goods -6.7 -3.1 .3 2.0 1.3 -.1 .1 -.4 -.8 .1

Durable -18.2 -3.8 2.3 7.9 6.6 .2 -.6 -.8 -2.4 .1

Automotive products -22.0 7.8 .6 14.7 7.5 -.1 .3 -1.1 -1.9 .0

Home electronics 1.7 -32.7 -20.0 5.7 -2.1 6.0 -15.9 1.4 3.5 1.7

Appliances, furniture, carpeting -22.4 -15.8 .7 1.1 3.0 .0 .2 -1.6 -1.4 1.4

Miscellaneous goods -13.2 -10.5 8.0 1.1 7.3 .0 .4 -1.2 -2.3 .1

Nondurable -2.9 -3.0 -.2 .4 .0 -.3 .4 -.3 -.2 .3

Non-energy -4.3 -3.7 -.8 1.0 -.3 -.3 .5 -.2 .0 .3

Foods and tobacco -2.8 -.7 .7 .7 2.2 -.1 .4 -.5 -.5 .9

Clothing -16.2 -27.3 11.4 -8.0 -2.4 -.2 .6 1.0 -1.3 -.2

Chemical products -6.0 -7.0 -3.1 3.1 -3.2 -.1 .3 .4 1.0 -.7

Paper products -6.5 -5.7 -4.1 -1.4 -8.6 -1.5 1.4 .3 2.5 2.2

Energy 2.0 -.6 1.4 -1.1 .6 -.2 -.1 -.7 -.8 .3

Business equipment -13.4 -9.7 12.0 5.0 7.0 .0 .2 -.7 -3.0 -1.6

Transit -35.8 13.2 11.4 6.5 12.7 -.1 1.6 -1.8 -11.1 -5.2

Information processing -5.0 -8.1 3.5 1.4 7.8 .1 -.1 -2.5 -4.9 .6

Industrial and other -8.6 -17.1 16.4 6.0 4.5 .0 -.1 .6 1.4 -.3

Defense and space equipment -2.4 -.8 4.6 -.2 4.1 -1.0 2.5 -.5 -4.3 1.4

Construction supplies -17.2 -16.5 8.1 2.7 4.4 -.1 .4 -1.7 -2.2 1.3

Business supplies -8.2 -5.6 2.3 .7 1.6 .0 .5 -.1 -.6 .0

Materials -9.0 -4.4 9.4 4.3 2.9 .4 .1 .5 .0 -.2

Non-energy -13.9 -6.0 11.6 4.0 3.1 .6 .4 .7 .3 .0

Durable -13.4 -10.5 18.4 7.5 4.0 .9 .7 2.0 .8 .0

Consumer parts -28.2 -12.1 27.8 6.5 13.2 .2 -.6 .6 -.2 -2.7

Equipment parts -5.9 -8.1 23.8 12.1 1.8 2.8 1.4 6.3 4.2 .8

Other -14.1 -12.1 11.7 4.3 3.0 -.1 .5 -.9 -1.3 .4

Nondurable -14.8 .8 2.6 -.9 1.7 .0 .0 -.9 -.4 -.2

Textile -17.4 -4.2 4.9 -1.3 -1.1 -.4 1.0 -.4 -2.5 .5

Paper -10.9 -4.9 .8 -1.3 -2.2 .1 -.2 .9 1.6 -.5

Chemical -21.5 5.1 5.0 -1.6 3.5 .0 .1 -1.6 -.8 -.5

Energy -.7 -2.1 5.9 4.8 2.6 .1 -.4 .2 -.6 -.5

INDUSTRY GROUPS

Manufacturing -11.6 -6.1 6.4 3.3 2.8 .2 .4 -.1 -.9 -.1

Manufacturing (NAICS) 31–33 -11.7 -5.9 6.9 3.4 3.3 .2 .4 -.2 -1.1 -.2

Durable manufacturing -13.5 -9.0 12.2 6.3 5.4 .5 .4 .5 -1.0 -.5

Wood products 321 -22.6 -12.8 4.2 1.2 6.9 .1 .0 -.9 -1.3 -.3

Nonmetallic mineral products 327 -20.3 -18.0 9.5 -.2 1.4 .0 .0 -1.0 -.5 .7

Primary metals 331 -17.6 -2.7 12.3 8.8 -1.5 .1 .0 .3 .1 .5

Fabricated metal products 332 -12.0 -18.8 12.9 6.3 5.8 -.1 .2 -1.5 -1.4 -.1

Machinery 333 -9.2 -18.9 21.2 8.4 2.9 .3 -.3 .9 1.1 -.3

Computer and electronic products 334 -4.5 -1.8 17.8 7.2 5.6 2.7 1.4 5.6 1.5 1.7

Electrical equip., appliances,

and components 335 -10.8 -18.5 12.9 2.4 3.5 .2 -.4 .4 2.3 -2.3

Motor vehicles and parts 3361–3 -29.8 2.5 15.3 11.7 14.1 .0 .2 -.5 -2.9 -1.6

Aerospace and miscellaneous

transportation equipment 3364–9 -15.9 .9 1.4 6.4 4.1 -.3 1.0 -1.1 -4.1 -.8

Furniture and related products 337 -20.9 -21.6 5.2 1.8 3.3 -.1 .7 -.6 -1.6 1.9

Miscellaneous 339 -1.0 -3.9 2.9 -.1 8.4 .0 .2 -1.3 -2.5 -1.1

Nondurable manufacturing -9.7 -2.5 1.5 .5 .9 -.1 .4 -.8 -1.1 .2

Food, beverage, and tobacco products 311,2 -2.1 .0 .2 .5 2.4 -.2 .5 -.7 -1.2 1.2

Textile and product mills 313,4 -16.7 -10.4 4.0 .2 -1.0 .0 .0 -1.3 -.6 .7

Apparel and leather 315,6 -21.0 -20.2 6.5 -5.3 -2.6 .1 -.2 -3.0 -2.6 .2

Paper 322 -12.5 -1.5 .9 -.5 -2.3 .1 -.2 .6 1.3 -.5

Printing and support 323 -11.3 -12.6 2.2 -3.3 -1.7 .2 -.2 1.1 2.6 -1.2

Petroleum and coal products 324 -3.6 -2.1 .7 3.3 -1.3 -.2 .5 -1.9 -4.0 .8

Chemicals 325 -14.4 -1.2 1.2 .3 .5 .0 .3 -.7 -.1 -.7

Plastics and rubber products 326 -15.5 -7.4 7.7 .7 4.6 -.3 1.0 -2.9 -5.8 1.1

Other manufacturing (non-NAICS) 1133,5111 -8.9 -10.2 -5.6 -.3 -7.1 -1.3 1.2 .4 2.8 1.7

Mining 21 -.3 -5.6 8.7 7.6 4.1 .1 -.5 .4 -.3 -.2

Utilities 2211,2 -.4 -1.2 2.7 -2.3 .0 -.1 -.1 .1 .0 -.3

Electric 2211 -1.4 -1.4 2.6 -1.8 -.3 .0 .0 .0 .3 -.3

Natural gas 2212 4.3 .0 3.8 -5.7 3.0 -.3 -.7 .3 -2.3 -.8

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

specified in the column heading.

21
Table 3

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, SPECIAL AGGREGATES AND SELECTED DETAIL: 2008–121

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2008 2009 2010 2011 2012 2008 2009 2010 2011 2012

Total industry -8.9 -5.5 6.2 3.3 2.7 .1 .2 -.1 -.7 -.2

Energy .0 -2.8 5.1 3.3 1.7 .1 -.3 .0 -.5 -.3

Consumer products 2.0 -.6 1.4 -1.1 .6 -.2 -.1 -.7 -.8 .3

Commercial products -.6 -1.3 1.7 -.2 1.3 .0 .0 -.2 .2 -.1

Oil and gas well drilling 213111 6.9 -42.3 45.2 21.3 -7.6 .0 .1 .2 .2 .1

Converted fuel -5.7 -.2 3.0 -1.3 .1 .1 .2 .0 -.1 -.6

Primary energy .9 -2.8 7.0 6.6 3.3 .2 -.7 .3 -.7 -.4

Non-energy -11.9 -6.4 6.6 3.3 3.1 .2 .4 -.1 -.8 -.1

Selected high-technology industries -2.8 1.9 27.2 9.7 2.3 4.4 2.2 14.3 7.9 3.1

Computers and peripheral equipment 3341 4.0 -19.8 -15.2 -18.4 3.4 2.1 -3.2 4.8 -15.9 6.6

Communications equipment 3342 -6.3 -9.7 3.3 11.6 -.3 1.1 -5.3 -1.9 12.6 -3.5

Semiconductors and related

electronic components 334412–9 -4.1 18.0 49.3 14.7 2.8 6.7 8.7 22.3 11.1 4.3

Excluding selected high-technology

industries -12.5 -6.9 5.6 3.0 3.1 -.1 .3 -.8 -1.2 -.3

Motor vehicles and parts 3361–3 -29.8 2.5 15.3 11.7 14.1 .0 .2 -.5 -2.9 -1.6

Motor vehicles 3361 -31.7 9.5 9.8 17.2 13.6 -.1 .5 -1.8 -4.2 -2.3

Motor vehicle parts 3363 -26.2 -4.7 23.0 6.5 14.4 .1 -.2 1.6 1.5 -1.7

Excluding motor vehicles and parts -11.2 -7.5 4.9 2.4 2.4 -.1 .3 -.8 -1.0 .1

Consumer goods -6.6 -5.4 .0 1.3 .7 -.2 .4 -.4 -.3 .2

Business equipment -13.7 -9.0 11.9 5.9 6.3 .0 .3 -.6 -1.7 -.6

Construction supplies -17.2 -16.6 8.2 2.7 4.4 -.1 .5 -1.7 -2.3 1.3

Business supplies -11.3 -8.3 .9 .4 1.6 -.3 .4 -.8 -1.4 -.2

Materials -13.3 -7.4 7.5 2.9 2.2 .1 -.1 -1.0 -.7 -.1

Measures excluding selected high-technology

industries

Total industry -9.2 -5.8 5.5 3.1 2.7 -.1 .2 -.6 -1.0 -.3

Manufacturing2

-12.2 -6.6 5.3 3.0 2.9 -.1 .3 -.8 -1.4 -.3

Durable -14.8 -10.2 10.6 5.9 5.6 .0 .2 -1.0 -1.8 -.8

Measures excluding motor vehicles and parts

Total industry -7.8 -5.9 5.8 3.0 2.2 .1 .2 .0 -.5 .1

Manufacturing2

-10.3 -6.7 5.8 2.8 2.2 .2 .4 -.1 -.7 .2

Durable -11.1 -10.4 11.7 5.6 4.2 .6 .4 .7 -.5 .0

Measures excluding selected high-technology

industries and motor vehicles and parts

Total industry -8.1 -6.2 4.9 2.7 2.2 -.1 .2 -.6 -.9 -.1

Manufacturing2

-10.9 -7.2 4.6 2.4 2.1 -.1 .3 -.8 -1.1 .0

Stage-of-process components

of non-energy materials,

measures of the input to

Finished processors -12.6 -8.1 18.8 7.8 3.4 1.5 .7 3.6 2.4 -.4

Primary and semifinished processors -14.9 -4.6 6.9 1.6 2.8 -.1 .3 -1.1 -1.0 .2

STAGE-OF-PROCESS GROUPS

Crude -5.4 -.9 6.4 4.7 3.4 .2 -.5 .1 -.2 -.7

Primary and semifinished -10.3 -7.1 8.2 2.3 1.8 .3 .5 .3 -.1 .3

Finished -8.9 -5.6 3.7 3.9 3.6 -.1 .2 -.6 -1.9 -.4

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

specified in the column heading.

2. Manufacturing consists of those industries included in the North American Industry Classification System, or NAICS, definition of manufacturing plus those industries–

logging and newspaper, periodical, book, and directory publishing–that have traditionally been considered to be a part of manufacturing and are included in the industrial sector.

22
Table 4

ANNUAL RATES OF CHANGE FOR INDUSTRIAL PRODUCTION: 2008–121

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2008 2009 2010 2011 2012 2008 2009 2010 2011 2012

Total IP -3.4 -11.3 5.7 3.4 3.6 .2 .1 .3 -.7 -.1

MARKET GROUPS

Consumer goods -4.9 -6.9 1.1 1.5 1.5 .0 .0 .0 -.8 .0

Durable -11.2 -16.7 7.3 5.0 8.3 .0 .0 -.9 -2.2 .1

Nondurable -2.8 -3.9 -.5 .6 -.2 .0 .0 .2 -.4 .2

Business equipment -2.3 -18.1 8.3 5.6 8.2 .1 .1 .1 -2.6 -1.8

Defense and space equipment 7.0 -4.3 7.5 -3.6 5.2 .0 -.1 3.5 -6.3 1.4

Construction supplies -9.3 -22.9 3.6 3.0 5.3 .0 .1 -.2 -2.5 .6

Business supplies -4.0 -10.4 2.3 1.1 1.5 .1 .2 .2 -.2 -.4

Materials -2.4 -11.3 8.8 4.7 4.1 .3 .2 .4 .1 .1

Non-energy -4.4 -16.6 11.7 5.3 4.1 .4 .5 .7 .4 .1

Energy .9 -2.4 4.2 3.8 4.2 .2 -.3 .1 -.4 .1

INDUSTRY GROUPS

Manufacturing2-4.7 -13.6 6.1 3.4 3.9 .2 .2 .3 -.9 -.2

Manufacturing (NAICS) -4.6 -13.6 6.6 3.6 4.2 .2 .2 .4 -1.2 -.2

Durable manufacturing -3.4 -18.6 11.0 6.8 7.1 .4 .4 .7 -.9 -.4

Nondurable manufacturing -5.9 -7.7 2.2 .2 1.1 .0 .0 .0 -1.4 .0

Other manufacturing (non-NAICS) -6.5 -13.7 -5.3 -2.1 -3.5 -.2 .1 -.1 4.2 -.3

Mining 1.2 -5.4 5.2 6.1 6.2 .2 -.3 .1 -.2 .6

Utilities -.1 -2.5 3.6 -.2 -2.1 .0 .0 .1 .1 -.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: 2009–131

Difference between

Revised change revised and earlier changes

Item (percent) (percentage points)

2009 2010 2011 2012 2013 2009 2010 2011 2012 2013

Total industry -.4 -2.1 1.3 2.2 1.9 .3 -.2 .6 .6 -.2

Manufacturing2-2.3 -2.0 .6 1.6 1.8 .4 .4 .5 .2 -.3

Manufacturing (NAICS) -2.3 -2.1 .7 1.7 1.9 .5 .4 .5 .1 -.3

Durable manufacturing -1.1 -.5 2.5 2.4 2.4 .5 .9 1.3 -.3 -.3

Nondurable manufacturing -3.5 -3.7 -1.2 1.0 1.6 .5 -.1 -.5 .5 -.2

Other manufacturing (non-NAICS) -3.2 .3 .2 -.8 -1.2 -.4 1.4 2.0 1.8 -.2

Mining 4.9 -1.0 4.6 4.7 3.9 -.1 -.7 1.9 2.5 .8

Utilities 1.0 1.0 2.0 1.9 .7 -.1 -3.5 -1.2 -.4 -.4

Selected high-technology industries 6.7 11.1 26.4 4.1 4.9 3.7 10.8 16.1 .9 .4

Manufacturing2ex. selected

high-technology industries -2.9 -2.7 -.5 1.5 1.6 .2 -.1 -.1 .2 -.3

STAGE-OF-PROCESS GROUPS

Crude 3.3 -1.5 3.4 3.2 3.1 .3 -1.1 1.4 1.5 .8

Primary and semifinished -.7 -1.1 1.4 .7 .8 .3 .0 1.1 .6 -.4

Finished -3.2 -2.1 .4 3.3 2.9 .4 .1 -.5 -.2 -.2

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

heading.

2. See footnote 2 to table 3.

23
Table 6

REVISED AND EARLIER CAPACITY UTILIZATION RATES, BY INDUSTRY GROUPS

Percent of capacity, seasonally adjusted

Difference between

Revised Rate revised and earlier rates

(percentage points)

1972-

Item 2012 2009 2010 2011 2012 2009 2010 2011 2012

Ave. Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4

Total industry 80.2 69.7 75.6 77.1 77.5 .1 .2 -.8 -1.4

Manufacturing178.7 67.2 72.9 74.8 75.7 .2 -.2 -1.3 -1.5

Manufacturing (NAICS) 31–33 78.6 67.0 73.2 75.2 76.3 .2 -.2 -1.4 -1.6

Durable manufacturing 77.0 62.8 70.8 73.4 75.5 .3 .0 -1.7 -1.8

Wood products 321 76.8 53.0 58.7 61.4 66.8 -2.0 -1.9 -2.8 -3.8

Nonmetallic mineral products 327 74.8 45.1 51.9 53.9 56.3 .2 -.3 -.9 -.8

Primary metals 331 79.1 61.7 70.8 75.8 74.9 .7 .7 .5 .7

Fabricated metal products 332 77.4 64.0 74.8 79.3 83.0 1.2 .4 -.8 -.8

Machinery 333 78.1 62.0 75.3 80.5 80.1 -.7 -.1 -.6 -1.2

Computer and electronic products 334 78.1 70.9 79.6 73.8 74.6 .6 -.1 -4.1 -1.4

Electrical equip., appliances,

and components 335 82.5 66.5 77.3 80.3 81.9 -.9 -.9 .5 -2.6

Motor vehicles and parts 3361–3 75.0 53.0 61.1 67.9 74.0 .5 .5 -1.5 -3.1

Aerospace and miscellaneous

transportation equipment 3364–9 73.0 71.1 70.3 72.0 73.0 .8 -.3 -4.6 -5.1

Furniture and related products 337 76.8 58.0 63.5 66.8 70.6 -.3 -.5 -1.2 .8

Miscellaneous 339 76.0 71.7 75.5 75.4 77.9 .3 -1.3 -1.9 -2.4

Nondurable manufacturing 80.7 72.1 76.0 77.3 77.2 .0 -.5 -1.0 -1.2

Food, beverage, and tobacco products 311,2 81.0 75.9 77.1 78.9 80.3 -.2 -.3 -.1 1.1

Textile and product mills 313,4 80.0 59.5 65.1 67.2 69.8 -.1 -.6 -.7 1.5

Apparel and leather 315,6 77.7 60.3 68.7 67.2 67.2 -.6 -.2 -1.8 -1.3

Paper 322 86.8 79.2 82.2 81.6 81.3 .2 .1 .1 -.7

Printing and support 323 81.0 62.7 67.0 65.8 66.0 .7 1.1 1.6 2.3

Petroleum and coal products 324 85.6 77.5 82.8 85.2 83.3 .4 -.7 -1.1 -3.3

Chemicals 325 77.6 70.7 75.1 76.2 74.9 -.7 -1.4 -1.5 -2.7

Plastics and rubber products 326 82.2 65.0 72.7 72.6 73.8 2.4 .9 -4.9 -5.0

Other manufacturing (non-NAICS) 1133,5111 82.3 70.5 66.3 66.0 61.8 1.1 .4 1.0 .9

Mining 21 87.3 78.8 86.5 88.9 88.4 -.3 .6 -1.3 -3.7

Utilities 2211,2 86.2 81.3 82.7 79.2 77.7 .0 2.8 3.6 3.6

Selected high-technology industries 78.0 73.0 83.6 72.5 71.3 .4 1.8 -2.9 -1.3

Computers and peripheral equipment 3341 78.2 92.8 90.9 70.6 67.7 4.6 2.2 -10.2 -9.4

Communications equipment 3342 76.7 77.8 81.0 76.9 77.8 -.9 1.0 .1 -1.1

Semiconductors and related

electronic components 334412–9 79.9 66.7 83.1 71.7 70.4 .2 2.0 -2.4 .1

Measures excluding selected high-technology

industries

Total industry 80.3 69.6 75.3 77.3 77.7 .1 .2 -.7 -1.4

Manufacturing178.8 66.9 72.4 74.9 75.9 .2 -.3 -1.2 -1.5

STAGE-OF-PROCESS GROUPS

Crude 86.3 78.2 85.5 87.0 86.9 -.5 .5 -.9 -2.8

Primary and semifinished 81.0 67.4 74.0 74.6 75.5 .4 .8 -.1 -.3

Finished 77.1 69.5 73.2 75.5 75.8 .0 -.7 -1.7 -1.7

1. See footnote 2 to table 3.

24
Table 7

RATES OF CHANGE IN INDUSTRIAL PRODUCTION, 2008–12

NAICS 2008 2009 2010 2011 2012

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

Total IP -3.5 -14.0 -15.5 5.7 8.6 3.9 1.8 4.8 4.2 1.3

MARKET GROUPS

Final products and nonindustrial supplies -4.3 -13.2 -15.4 3.8 5.4 2.0 1.2 3.7 4.5 .8

Consumer goods -5.2 -8.1 -10.2 4.5 -.1 .8 1.7 2.2 2.3 .4

Durable -14.4 -21.9 -25.6 24.6 3.4 1.3 3.7 12.3 9.6 3.6

Automotive products -21.2 -22.7 -28.2 62.0 -1.0 2.2 5.7 24.4 11.9 3.2

Home electronics 9.9 -5.9 -6.3 -51.7 -33.0 -4.5 14.7 -2.7 -.1 -3.9

Appliances, furniture, carpeting -13.8 -30.1 -25.8 -4.4 6.5 -4.7 -.3 2.7 4.9 1.1

Miscellaneous goods -7.6 -18.5 -24.4 6.0 14.5 1.8 1.0 1.1 8.8 5.8

Nondurable -2.0 -3.7 -5.6 -.3 -1.1 .6 1.1 -.2 .3 -.4

Non-energy -3.6 -5.0 -6.5 -.7 -1.4 -.2 1.1 .9 .8 -1.3

Foods and tobacco -3.3 -2.2 -1.4 -.1 .5 .9 -.2 1.6 3.9 .7

Clothing -4.8 -26.2 -41.8 -9.1 17.0 6.0 -7.4 -8.5 1.3 -6.0

Chemical products -4.7 -7.3 -10.2 -3.7 -4.0 -2.1 5.9 .3 -2.5 -3.9

Paper products -4.0 -9.0 -14.0 3.4 -7.1 -.9 -3.5 .7 -9.9 -7.2

Energy 2.8 1.1 -2.4 1.2 .0 2.9 1.2 -3.4 -.8 2.1

Business equipment .0 -25.0 -21.2 3.4 16.4 7.7 1.9 8.2 11.7 2.5

Transit 3.1 -60.1 -.8 29.0 19.5 3.9 -1.5 15.1 17.8 7.9

Information processing 7.5 -16.0 -10.7 -5.4 7.4 -.3 -3.3 6.3 9.6 6.1

Industrial and other -5.0 -12.1 -31.2 -.1 19.9 13.1 5.5 6.6 10.2 -1.0

Defense and space equipment 1.7 -6.3 -8.3 7.4 15.0 -4.9 -7.6 7.7 3.2 5.0

Construction supplies -11.2 -22.8 -28.9 -2.0 13.7 2.9 .3 5.2 7.2 1.7

Business supplies -4.7 -11.7 -13.4 2.8 3.4 1.2 .4 1.0 3.5 -.3

Materials -2.6 -15.0 -15.7 8.3 12.7 6.2 2.5 6.1 3.8 2.0

Non-energy -5.1 -22.0 -21.5 12.5 16.5 6.8 2.7 5.3 4.5 1.7

Durable -2.5 -23.2 -30.7 15.6 25.8 11.3 6.9 8.0 7.2 .9

Consumer parts -15.9 -38.7 -46.8 45.1 43.1 14.1 -.3 13.7 20.2 6.7

Equipment parts 6.7 -17.1 -23.8 10.9 28.5 19.2 12.6 11.6 8.1 -4.1

Other -4.7 -22.6 -31.1 12.3 18.9 4.8 4.8 3.7 3.0 3.0

Nondurable -9.2 -20.0 -6.4 8.6 4.7 .5 -3.2 1.4 .4 2.9

Textile -14.8 -19.9 -23.2 19.6 8.2 1.6 -3.5 .9 4.9 -6.7

Paper -4.3 -17.1 -15.1 6.5 1.7 -.2 -.4 -2.2 -1.7 -2.7

Chemical -14.2 -28.3 -3.7 14.7 9.5 .6 -5.2 2.3 .3 6.9

Energy 1.6 -3.0 -5.7 1.7 6.5 5.3 2.2 7.4 2.7 2.5

INDUSTRY GROUPS

Manufacturing2-5.3 -17.5 -17.6 6.9 9.3 3.5 1.5 5.1 4.8 1.0

Manufacturing (NAICS) 31–33 -5.2 -17.8 -17.5 7.3 10.2 3.8 1.7 5.2 5.2 1.3

Durable manufacturing -3.7 -22.3 -25.7 11.6 17.1 7.6 3.8 8.7 8.9 1.9

Wood products 321 -16.5 -28.2 -27.9 5.6 11.5 -2.7 .2 2.3 4.2 9.6

Nonmetallic mineral products 327 -13.6 -26.5 -29.7 -4.5 14.6 4.6 .5 -.9 2.6 .3

Primary metals 331 4.6 -35.1 -38.1 52.8 25.1 .8 7.2 10.4 -2.2 -.8

Fabricated metal products 332 -5.6 -17.9 -34.6 .9 14.7 11.1 6.5 6.1 9.4 2.3

Machinery 333 -4.6 -13.6 -35.2 1.5 25.8 16.7 8.5 8.3 12.6 -6.0

Computer and electronic products 334 11.9 -18.5 -9.6 6.7 24.2 11.8 6.1 8.4 7.3 3.9

Selected high-technology industries 22.9 -23.1 -8.4 13.2 35.9 19.0 11.1 8.3 3.8 .8

Computers and peripheral equipment 3341 25.9 -14.1 -11.3 -27.5 -13.0 -17.4 -19.3 -17.4 5.9 1.0

Communications equipment 3342 12.5 -21.9 -10.2 -9.3 2.4 4.2 10.7 12.5 -2.3 1.6

Semiconductors and related

electronic components 334412–9 26.5 -27.4 -6.4 48.9 67.7 33.0 17.6 11.8 5.0 .7

Electrical equip., appliances,

and components 335 -2.2 -18.7 -29.7 -5.4 13.6 12.3 1.9 3.0 4.3 2.7

Motor vehicles and parts 3361–3 -25.2 -34.1 -45.5 92.7 21.3 9.6 1.3 23.3 23.7 5.2

Aerospace and miscellaneous

transportation equipment 3364–9 3.0 -31.3 3.2 -1.3 6.5 -3.5 -1.0 14.3 4.7 3.5

Furniture and related products 337 -12.3 -28.7 -33.2 -8.1 8.0 2.4 1.8 1.9 8.2 -1.5

Miscellaneous 339 3.1 -4.9 -13.6 6.9 4.6 1.2 -1.3 1.2 9.9 6.9

Nondurable manufacturing -7.0 -12.3 -7.7 3.0 3.2 -.2 -.6 1.5 1.2 .7

Food, beverage, and tobacco products 311,2 -2.7 -1.6 -.1 .0 -.3 .8 -.7 1.7 4.0 .9

Textile and product mills 313,4 -11.4 -21.6 -27.0 10.0 7.9 .3 -1.1 1.5 2.3 -4.3

Apparel and leather 315,6 -17.1 -24.8 -32.3 -5.8 7.5 5.6 -5.1 -5.5 .6 -5.8

Paper 322 -2.8 -21.2 -8.8 6.4 2.2 -.4 .0 -.9 -3.5 -1.1

Printing and support 323 -8.5 -14.0 -22.6 -1.3 3.5 .9 -1.9 -4.7 2.5 -5.7

Petroleum and coal products 324 -3.3 -3.9 .1 -4.4 3.1 -1.6 -1.1 7.8 -2.1 -.4

Chemicals 325 -10.3 -18.3 -7.7 5.7 3.7 -1.3 -.5 1.1 -.4 1.4

Plastics and rubber products 326 -12.4 -18.5 -23.0 11.4 14.9 .9 .9 .5 4.6 4.7

Other manufacturing (non-NAICS) 1133,5111 -6.6 -11.2 -19.4 .0 -8.6 -2.6 -3.3 2.8 -5.3 -8.9

Mining 21 2.8 -3.2 -12.0 1.3 10.1 7.3 5.5 9.7 2.3 5.9

Utilities 2211,2 1.6 -2.4 -5.1 2.9 2.7 2.8 -1.0 -3.5 2.3 -2.2

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

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

1. See footnote 2 to table 3.

25
Table 8

CAPACITY UTILIZATION RATES, BY INDUSTRY GROUPS, 2008–12

Percent of capacity, seasonally adjusted

NAICS 2008 2009 2010 2011 2012

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

Total industry 79.4 73.5 67.3 69.7 73.6 75.6 76.1 77.1 77.7 77.5

Manufacturing176.3 69.9 64.2 67.2 71.0 72.9 73.5 74.8 75.9 75.7

Manufacturing (NAICS) 31–33 76.3 69.6 63.9 67.0 71.2 73.2 73.9 75.2 76.5 76.3

Durable manufacturing 77.0 68.2 59.1 62.8 68.3 70.8 71.5 73.4 75.6 75.5

Wood products 321 66.4 57.7 50.2 53.0 57.8 58.7 59.9 61.4 63.4 66.8

Nonmetallic mineral products 327 61.2 52.6 44.9 45.1 49.6 51.9 53.1 53.9 55.5 56.3

Primary metals 331 82.0 63.7 49.5 61.7 70.1 70.8 72.8 75.8 74.9 74.9

Fabricated metal products 332 82.8 75.2 62.1 64.0 70.1 74.8 77.3 79.3 82.5 83.0

Machinery 333 80.9 75.4 61.1 62.0 69.8 75.3 78.2 80.5 84.1 80.1

Computer and electronic products 334 79.2 74.0 70.6 70.9 77.4 79.6 76.4 73.8 74.1 74.6

Selected high-technology industries 83.2 76.5 73.0 73.0 81.0 83.6 78.4 72.5 70.9 71.3

Computers and peripheral equipment 3341 78.3 76.2 87.3 92.8 97.4 90.9 80.5 70.6 69.3 67.7

Communications equipment 3342 86.3 86.4 83.5 77.8 79.7 81.0 78.8 76.9 75.0 77.8

Semiconductors and related

electronic components 334412–9 84.5 73.4 64.0 66.7 78.3 83.1 78.0 71.7 70.1 70.4

Electrical equip., appliances,

and components 335 87.8 79.3 67.1 66.5 72.1 77.3 78.8 80.3 81.6 81.9

Motor vehicles and parts 3361–3 61.3 49.9 37.5 53.0 58.6 61.1 61.5 67.9 73.9 74.0

Aerospace and miscellaneous

transportation equipment 3364–9 89.7 72.8 72.5 71.1 72.7 70.3 68.5 72.0 72.7 73.0

Furniture and related products 337 74.0 66.5 57.8 58.0 61.8 63.5 65.1 66.8 70.5 70.6

Miscellaneous 339 74.3 72.9 68.5 71.7 74.3 75.5 75.4 75.4 77.5 77.9

Nondurable manufacturing 75.5 71.3 69.6 72.1 74.8 76.0 76.6 77.3 77.4 77.2

Food, beverage, and tobacco products 311,2 76.4 76.0 75.9 75.9 76.1 77.1 77.7 78.9 80.4 80.3

Textile and product mills 313,4 68.8 62.8 55.1 59.5 63.6 65.1 65.6 67.2 69.6 69.8

Apparel and leather 315,6 77.3 69.7 59.5 60.3 64.9 68.7 68.2 67.2 68.3 67.2

Paper 322 84.1 76.2 74.7 79.2 81.7 82.2 82.1 81.6 80.9 81.3

Printing and support 323 72.6 67.4 60.9 62.7 65.7 67.0 66.9 65.8 67.3 66.0

Petroleum and coal products 324 83.6 80.6 79.2 77.5 81.0 82.8 83.0 85.2 83.6 83.3

Chemicals 325 72.8 67.2 66.6 70.7 74.0 75.1 75.8 76.2 75.4 74.9

Plastics and rubber products 326 72.6 65.9 59.4 65.0 71.6 72.7 73.0 72.6 73.4 73.8

Other manufacturing (non-NAICS) 1133,5111 77.4 76.1 70.0 70.5 67.4 66.3 65.1 66.0 64.4 61.8

Mining 21 91.5 87.5 79.1 78.8 83.5 86.5 87.2 88.9 87.7 88.4

Utilities 2211,2 85.0 83.1 80.4 81.3 82.1 82.7 81.5 79.2 79.2 77.7

1. See footnote 2 to table 3.

26
Table 9A

INDUSTRIAL PRODUCTION: Manufacturing1

Seasonally adjusted

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

IP (percent

change)

1983 2.4 -.1 .9 1.1 1.3 .7 1.4 .8 1.9 1.1 .3 .3 9.2 11.9 14.8 12.4 4.8

1984 1.8 1.1 .5 .5 .3 .5 .5 .2 -.2 .4 .3 .4 12.8 6.2 3.7 2.6 9.8

1985 -.4 -.3 .8 -.4 .2 .2 -.6 .6 .1 -.3 .6 .4 .1 .8 .0 2.2 1.6

1986 1.1 -.6 -.3 .4 .2 -.4 .6 .2 .2 .4 .5 .9 4.5 .0 2.5 4.9 2.2

1987 -.3 1.5 .1 .5 .7 .4 .7 .5 .6 1.6 .6 .6 5.9 7.1 7.3 11.7 5.7

1988 -.2 .2 .3 .8 -.1 .1 .1 .0 .3 .6 .3 .4 2.6 4.4 .9 4.4 5.3

1989 .8 -.9 -.1 .2 -.8 .2 -1.1 .8 -.2 -.2 .2 .1 2.0 -2.7 -3.1 .4 .8

1990 -.2 1.5 .5 -.3 .2 .3 -.2 .3 .0 -.8 -1.2 -.7 4.2 3.0 1.0 -6.7 .8

1991 -.8 -.6 -.7 .3 .7 1.1 .2 .3 1.1 -.2 -.2 -.1 -8.8 1.9 7.2 1.6 -2.0

1992 -.6 .9 1.0 .5 .6 .3 .9 -.4 .0 .7 .4 -.2 .5 8.2 4.0 3.1 3.6

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

1994 .2 .1 1.3 .8 .7 .3 .4 .8 .4 1.0 .8 1.1 4.9 9.6 6.1 10.3 5.9

1995 .2 -.2 .2 -.1 .1 .5 -.6 1.1 .8 -.1 .1 .4 4.7 .9 3.2 4.1 5.2

1996 -.8 1.6 -.2 1.1 .7 1.1 .3 .6 .7 -.1 .8 .9 2.0 9.5 7.8 5.7 4.8

1997 .1 1.4 1.2 -.2 .9 .6 .5 1.6 .8 .6 1.1 .4 9.3 7.6 10.8 10.9 8.4

1998 .8 .1 -.1 .5 .6 -.7 -.5 2.5 -.4 1.0 .1 .5 6.1 2.3 3.2 7.6 6.6

1999 .3 .7 .0 .4 .9 -.4 .5 .6 -.3 1.5 .7 .7 4.7 4.4 3.7 9.0 5.0

2000 .2 .3 .7 .6 -.2 .2 .0 -.6 .5 -.4 -.3 -.6 5.3 4.4 -.8 -2.9 4.2

2001 -.6 -.6 -.3 -.3 -.8 -.7 -.3 -.6 -.2 -.6 -.3 .3 -6.4 -5.5 -6.0 -4.2 -4.1

2002 .5 -.1 .7 .2 .6 1.2 -.5 .4 .1 -.4 .5 -.4 3.3 5.9 3.1 -.3 .3

2003 .5 .2 .2 -.9 .0 .4 .1 -.4 .8 -.1 1.0 -.2 2.4 -2.4 1.5 3.7 1.3

2004 .0 .7 -.2 .4 .7 -.7 .9 .6 .0 1.0 -.1 .6 2.5 3.0 4.2 5.5 2.8

2005 .7 .8 -.4 .3 .4 .2 -.1 .3 -1.0 1.5 .8 .1 6.0 2.3 -.1 5.7 4.0

2006 .8 -.2 -.1 .6 -.4 .3 -.2 .4 .1 -.4 .1 1.5 3.9 1.1 .7 1.2 2.5

2007 -.5 .4 .7 .7 -.1 .3 .1 -.4 .5 -.4 .5 .2 4.2 5.7 1.0 1.0 2.7

2008 -.4 -.6 -.3 -1.1 -.5 -.5 -1.1 -1.3 -3.4 -.6 -2.2 -3.4 -2.6 -7.8 -13.4 -21.5 -4.7

2009 -2.9 -.2 -1.9 -.8 -1.1 -.3 1.2 1.1 .8 .1 1.1 .0 -23.7 -11.1 6.6 7.3 -13.6

2010 1.0 .0 1.3 .9 1.4 .0 .7 .1 .1 .1 .2 .6 7.3 11.3 5.2 1.8 6.1

2011 .2 .0 .7 -.7 .3 .1 .7 .4 .4 .6 .0 1.0 3.4 -.4 5.0 5.2 3.4

2012 1.0 .6 -.5 .6 -.3 .3 .2 -.7 .1 -.4 1.4 .9 8.1 1.6 -.5 2.4 3.9

2013 -.2 .6

IP (2007=100)

1983 43.4 43.3 43.8 44.3 44.8 45.1 45.8 46.1 47.0 47.5 47.7 47.8 43.5 44.7 46.3 47.7 45.6

1984 48.7 49.3 49.5 49.7 49.9 50.1 50.3 50.4 50.3 50.5 50.7 50.9 49.1 49.9 50.4 50.7 50.0

1985 50.7 50.5 50.9 50.7 50.8 50.9 50.6 50.9 50.9 50.8 51.1 51.3 50.7 50.8 50.8 51.1 50.8

1986 51.9 51.6 51.4 51.6 51.7 51.5 51.9 52.0 52.1 52.3 52.5 53.0 51.6 51.6 52.0 52.6 52.0

1987 52.8 53.6 53.6 53.9 54.3 54.5 54.9 55.2 55.5 56.4 56.8 57.1 53.3 54.3 55.2 56.8 54.9

1988 57.0 57.1 57.3 57.8 57.7 57.8 57.8 57.8 58.0 58.3 58.5 58.7 57.1 57.8 57.9 58.5 57.8

1989 59.2 58.6 58.6 58.7 58.2 58.3 57.7 58.1 58.0 57.9 58.0 58.1 58.8 58.4 57.9 58.0 58.3

1990 57.9 58.8 59.1 58.9 59.0 59.2 59.1 59.2 59.2 58.8 58.1 57.6 58.6 59.0 59.2 58.2 58.7

1991 57.2 56.9 56.5 56.6 57.0 57.7 57.8 58.0 58.6 58.4 58.3 58.2 56.8 57.1 58.1 58.3 57.6

1992 57.9 58.4 59.0 59.3 59.6 59.8 60.3 60.1 60.1 60.5 60.7 60.6 58.4 59.6 60.2 60.6 59.7

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

1994 63.1 63.2 64.0 64.6 65.0 65.2 65.4 66.0 66.2 66.9 67.4 68.2 63.4 64.9 65.9 67.5 65.4

1995 68.3 68.2 68.4 68.3 68.3 68.7 68.3 69.0 69.6 69.6 69.6 69.9 68.3 68.4 69.0 69.7 68.8

1996 69.3 70.4 70.3 71.0 71.5 72.3 72.5 73.0 73.4 73.4 74.0 74.6 70.0 71.6 73.0 74.0 72.2

1997 74.7 75.7 76.6 76.4 77.1 77.6 78.0 79.3 79.9 80.4 81.3 81.7 75.7 77.1 79.1 81.1 78.2

1998 82.3 82.4 82.3 82.7 83.2 82.6 82.2 84.3 84.0 84.8 84.9 85.4 82.4 82.8 83.5 85.0 83.4

1999 85.6 86.2 86.2 86.5 87.3 87.0 87.4 88.0 87.7 89.0 89.6 90.3 86.0 86.9 87.7 89.6 87.6

2000 90.4 90.7 91.3 91.8 91.7 91.8 91.8 91.2 91.7 91.3 91.0 90.4 90.8 91.8 91.6 90.9 91.3

2001 89.8 89.3 89.0 88.8 88.1 87.5 87.2 86.7 86.5 86.0 85.7 85.9 89.4 88.1 86.8 85.9 87.5

2002 86.4 86.3 86.9 87.1 87.6 88.7 88.2 88.6 88.6 88.3 88.7 88.3 86.6 87.8 88.5 88.4 87.8

2003 88.8 89.0 89.1 88.3 88.3 88.6 88.7 88.4 89.1 89.0 89.9 89.7 88.9 88.4 88.7 89.5 88.9

2004 89.7 90.3 90.2 90.5 91.2 90.5 91.3 91.9 91.8 92.8 92.7 93.3 90.1 90.8 91.7 92.9 91.4

2005 93.9 94.7 94.3 94.5 94.9 95.1 94.9 95.2 94.2 95.6 96.3 96.4 94.3 94.8 94.8 96.1 95.0

2006 97.2 97.0 96.9 97.5 97.1 97.4 97.2 97.6 97.7 97.2 97.3 98.8 97.0 97.3 97.5 97.8 97.4

2007 98.3 98.7 99.4 100.1 100.0 100.3 100.5 100.1 100.6 100.3 100.8 100.9 98.8 100.2 100.4 100.6 100.0

2008 100.5 99.9 99.6 98.5 98.0 97.5 96.4 95.1 91.9 91.3 89.3 86.3 100.0 98.0 94.5 89.0 95.3

2009 83.8 83.6 82.0 81.4 80.5 80.3 81.2 82.1 82.8 82.9 83.8 83.8 83.1 80.7 82.0 83.5 82.4

2010 84.6 84.6 85.7 86.4 87.7 87.7 88.3 88.4 88.5 88.5 88.7 89.2 85.0 87.3 88.4 88.8 87.4

2011 89.3 89.3 89.9 89.3 89.5 89.6 90.2 90.6 90.9 91.4 91.4 92.3 89.5 89.5 90.6 91.7 90.3

2012 93.3 93.9 93.4 93.9 93.7 94.0 94.2 93.5 93.6 93.2 94.5 95.3 93.5 93.9 93.8 94.3 93.9

2013 95.2 95.8

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

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

27
Table 9B

CAPACITY AND UTILIZATION: Manufacturing1

Seasonally adjusted

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

Capacity

(percent of

2007 output)

1983 61.9 61.9 61.9 61.9 62.0 62.0 62.0 62.1 62.1 62.1 62.2 62.3 61.9 62.0 62.1 62.2 62.0

1984 62.3 62.4 62.5 62.7 62.8 62.9 63.1 63.2 63.4 63.6 63.8 64.0 62.4 62.8 63.2 63.8 63.1

1985 64.2 64.3 64.5 64.7 64.9 65.1 65.2 65.4 65.5 65.6 65.7 65.8 64.3 64.9 65.4 65.7 65.1

1986 65.9 65.9 66.0 66.0 66.1 66.2 66.2 66.3 66.4 66.5 66.6 66.7 65.9 66.1 66.3 66.6 66.2

1987 66.9 67.1 67.2 67.4 67.6 67.8 67.9 68.1 68.2 68.4 68.5 68.6 67.1 67.6 68.1 68.5 67.8

1988 68.6 68.7 68.7 68.8 68.8 68.8 68.8 68.9 68.9 68.9 69.0 69.1 68.7 68.8 68.9 69.0 68.8

1989 69.2 69.3 69.4 69.5 69.7 69.8 70.0 70.2 70.4 70.5 70.7 70.9 69.3 69.7 70.2 70.7 70.0

1990 71.1 71.2 71.4 71.6 71.7 71.9 72.0 72.2 72.3 72.5 72.6 72.7 71.2 71.7 72.2 72.6 71.9

1991 72.9 73.0 73.1 73.2 73.3 73.4 73.5 73.5 73.6 73.7 73.8 73.9 73.0 73.3 73.5 73.8 73.4

1992 74.0 74.1 74.3 74.5 74.6 74.8 75.0 75.2 75.4 75.6 75.8 76.0 74.1 74.6 75.2 75.8 75.0

1993 76.2 76.3 76.4 76.6 76.7 76.8 76.9 77.0 77.1 77.3 77.4 77.5 76.3 76.7 77.0 77.4 76.8

1994 77.7 77.9 78.1 78.3 78.6 78.8 79.1 79.4 79.6 79.9 80.3 80.6 77.9 78.6 79.4 80.3 79.0

1995 80.9 81.2 81.5 81.9 82.2 82.6 82.9 83.3 83.7 84.1 84.5 84.9 81.2 82.2 83.3 84.5 82.8

1996 85.3 85.7 86.2 86.6 87.1 87.5 88.0 88.5 88.9 89.4 89.9 90.4 85.7 87.1 88.5 89.9 87.8

1997 90.9 91.5 92.0 92.5 93.1 93.7 94.3 95.0 95.7 96.3 97.1 97.8 91.5 93.1 95.0 97.1 94.2

1998 98.5 99.3 100.0 100.7 101.4 102.1 102.8 103.4 104.0 104.6 105.2 105.7 99.3 101.4 103.4 105.2 102.3

1999 106.2 106.8 107.3 107.8 108.3 108.7 109.2 109.7 110.2 110.7 111.1 111.6 106.8 108.3 109.7 111.1 109.0

2000 112.1 112.6 113.0 113.5 113.9 114.4 114.8 115.3 115.7 116.1 116.5 116.9 112.6 113.9 115.3 116.5 114.6

2001 117.3 117.6 118.0 118.3 118.6 118.9 119.2 119.4 119.6 119.8 119.9 120.1 117.6 118.6 119.4 119.9 118.9

2002 120.2 120.3 120.4 120.4 120.4 120.5 120.5 120.5 120.5 120.5 120.5 120.5 120.3 120.4 120.5 120.5 120.4

2003 120.4 120.4 120.4 120.4 120.4 120.3 120.3 120.3 120.2 120.2 120.1 120.0 120.4 120.4 120.3 120.1 120.3

2004 120.0 119.9 119.9 119.8 119.8 119.8 119.8 119.8 119.8 119.9 120.0 120.2 119.9 119.8 119.8 120.0 119.9

2005 120.4 120.5 120.8 121.0 121.3 121.5 121.8 122.1 122.3 122.5 122.8 123.0 120.6 121.3 122.0 122.8 121.7

2006 123.2 123.4 123.5 123.7 123.9 124.0 124.2 124.4 124.6 124.9 125.1 125.4 123.4 123.9 124.4 125.1 124.2

2007 125.7 126.0 126.3 126.6 126.9 127.2 127.5 127.8 128.0 128.2 128.4 128.5 126.0 126.9 127.8 128.4 127.3

2008 128.6 128.6 128.5 128.5 128.4 128.2 128.0 127.9 127.7 127.5 127.2 127.0 128.6 128.3 127.9 127.2 128.0

2009 126.8 126.5 126.3 126.0 125.8 125.5 125.3 125.0 124.8 124.5 124.3 124.1 126.5 125.8 125.0 124.3 125.4

2010 123.8 123.6 123.3 123.1 122.9 122.6 122.4 122.2 122.1 121.9 121.8 121.7 123.6 122.9 122.3 121.8 122.6

2011 121.7 121.7 121.7 121.7 121.8 121.9 122.0 122.1 122.3 122.5 122.6 122.8 121.7 121.8 122.1 122.6 122.1

2012 123.0 123.1 123.3 123.5 123.6 123.8 124.0 124.1 124.3 124.4 124.6 124.8 123.1 123.6 124.1 124.6 123.9

2013 125.0 125.1

Utilization

(percent)

1983 70.1 70.0 70.7 71.4 72.3 72.8 73.8 74.3 75.7 76.5 76.7 76.8 70.3 72.2 74.6 76.7 73.4

1984 78.1 78.9 79.1 79.4 79.4 79.6 79.8 79.7 79.4 79.4 79.5 79.5 78.7 79.5 79.6 79.5 79.3

1985 79.0 78.5 78.9 78.3 78.2 78.2 77.5 77.8 77.7 77.4 77.8 78.0 78.8 78.3 77.7 77.7 78.1

1986 78.8 78.2 78.0 78.2 78.3 77.9 78.3 78.4 78.4 78.6 78.8 79.4 78.3 78.1 78.4 78.9 78.4

1987 78.9 79.9 79.8 80.0 80.4 80.5 80.9 81.1 81.4 82.6 82.9 83.3 79.5 80.3 81.1 82.9 81.0

1988 83.1 83.2 83.4 84.0 83.9 84.0 84.0 84.0 84.2 84.6 84.8 85.0 83.2 84.0 84.1 84.8 84.0

1989 85.6 84.6 84.4 84.4 83.5 83.5 82.4 82.8 82.5 82.1 82.1 81.9 84.9 83.8 82.6 82.0 83.3

1990 81.5 82.5 82.7 82.3 82.3 82.3 82.0 82.1 81.9 81.1 80.0 79.3 82.3 82.3 82.0 80.1 81.7

1991 78.5 77.9 77.3 77.4 77.8 78.6 78.7 78.8 79.5 79.3 79.0 78.8 77.9 77.9 79.0 79.1 78.5

1992 78.2 78.8 79.4 79.6 79.9 79.9 80.4 79.8 79.7 80.0 80.1 79.8 78.8 79.8 80.0 80.0 79.6

1993 80.4 80.4 80.1 80.4 80.2 80.0 80.1 79.8 80.2 80.8 81.0 81.2 80.3 80.2 80.0 81.0 80.4

1994 81.2 81.1 82.0 82.4 82.7 82.7 82.7 83.1 83.2 83.7 84.0 84.6 81.4 82.6 83.0 84.1 82.8

1995 84.5 84.0 83.8 83.4 83.1 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 82.2 81.6 82.0 82.2 82.6 82.4 82.5 82.6 82.1 82.3 82.5 81.7 82.3 82.5 82.3 82.2

1997 82.1 82.8 83.3 82.6 82.8 82.8 82.7 83.4 83.6 83.5 83.8 83.5 82.7 82.7 83.2 83.6 83.1

1998 83.6 83.0 82.3 82.1 82.0 80.8 80.0 81.5 80.7 81.1 80.7 80.7 83.0 81.7 80.7 80.8 81.5

1999 80.6 80.8 80.3 80.3 80.6 80.0 80.1 80.2 79.6 80.5 80.6 80.9 80.6 80.3 80.0 80.7 80.4

2000 80.7 80.6 80.8 80.9 80.4 80.3 79.9 79.1 79.3 78.6 78.1 77.4 80.7 80.5 79.5 78.0 79.7

2001 76.6 75.9 75.5 75.1 74.3 73.6 73.2 72.6 72.3 71.8 71.4 71.6 76.0 74.3 72.7 71.6 73.6

2002 71.9 71.8 72.2 72.3 72.8 73.6 73.2 73.5 73.6 73.3 73.6 73.3 72.0 72.9 73.4 73.4 72.9

2003 73.7 73.9 74.0 73.3 73.4 73.7 73.8 73.5 74.1 74.1 74.8 74.7 73.9 73.5 73.8 74.6 73.9

2004 74.8 75.3 75.2 75.6 76.1 75.6 76.3 76.7 76.6 77.4 77.2 77.6 75.1 75.8 76.5 77.4 76.2

2005 78.0 78.5 78.0 78.1 78.2 78.2 78.0 78.0 77.0 78.0 78.5 78.4 78.2 78.2 77.7 78.3 78.1

2006 78.9 78.6 78.5 78.8 78.4 78.5 78.2 78.4 78.4 77.9 77.8 78.8 78.7 78.6 78.3 78.1 78.4

2007 78.2 78.3 78.7 79.1 78.8 78.9 78.8 78.3 78.6 78.2 78.5 78.5 78.4 78.9 78.6 78.4 78.6

2008 78.1 77.7 77.5 76.6 76.3 76.0 75.3 74.4 72.0 71.6 70.2 67.9 77.8 76.3 73.9 69.9 74.5

2009 66.1 66.1 65.0 64.6 64.0 64.0 64.8 65.7 66.3 66.5 67.4 67.6 65.7 64.2 65.6 67.2 65.7

2010 68.4 68.5 69.5 70.2 71.4 71.5 72.1 72.3 72.5 72.6 72.8 73.3 68.8 71.0 72.3 72.9 71.3

2011 73.4 73.4 73.9 73.4 73.5 73.5 74.0 74.2 74.3 74.7 74.5 75.2 73.6 73.5 74.2 74.8 74.0

2012 75.8 76.2 75.7 76.1 75.8 75.9 76.0 75.4 75.3 74.9 75.8 76.4 75.9 75.9 75.5 75.7 75.8

2013 76.2 76.6

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

28
Table 10A

INDUSTRIAL PRODUCTION: Total Industry Excluding Selected High-Technology Industries1

Seasonally adjusted

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

IP (percent

change)

1983 1.9 -.7 .7 1.1 .6 .5 1.4 1.2 1.3 .7 .2 .5 3.8 8.1 13.3 9.5 1.8

1984 2.0 .4 .4 .5 .4 .2 .3 .0 -.2 -.2 .3 .1 11.6 5.2 1.9 -.4 7.9

1985 -.3 .5 .1 -.1 .1 .0 -.6 .4 .5 -.4 .3 1.1 1.0 .9 -.3 2.5 1.0

1986 .5 -.8 -.7 .1 .1 -.2 .4 -.3 .1 .4 .4 .8 2.4 -2.5 .6 3.9 .9

1987 -.5 1.2 .2 .5 .6 .5 .5 .6 .2 1.5 .5 .4 4.4 6.4 6.1 9.2 4.3

1988 .0 .4 .2 .5 -.2 .2 .1 .4 -.4 .5 .2 .4 3.1 2.7 1.2 2.6 4.4

1989 .3 -.4 .3 .0 -.7 .0 -1.1 .8 -.3 -.2 .2 .6 1.9 -1.5 -3.5 .8 .6

1990 -.7 .9 .5 -.2 .1 .3 -.2 .3 .1 -.8 -1.3 -.7 2.1 2.6 1.2 -6.7 .3

1991 -.4 -.8 -.6 .2 1.0 1.0 .0 .1 .9 -.2 -.2 -.5 -8.0 2.0 5.4 .4 -2.0

1992 -.8 .8 .7 .6 .3 -.1 .8 -.6 .1 .6 .3 .0 -1.9 6.1 1.8 3.0 1.9

1993 .5 .3 -.1 .3 -.4 .2 .3 -.1 .4 .7 .3 .5 3.2 .2 1.4 5.1 2.5

1994 .4 .0 .9 .3 .4 .6 .0 .4 .1 .6 .4 .9 4.5 5.4 3.2 5.7 4.0

1995 .1 -.2 -.1 -.3 .1 .2 -.5 1.1 .1 -.4 .1 .1 2.9 -1.2 1.5 .2 2.5

1996 -1.0 1.4 -.3 .8 .5 .7 -.5 .4 .3 -.3 .8 .5 -.4 6.5 2.1 3.0 1.7

1997 -.1 .9 .5 -.3 .3 .2 .4 1.0 .7 .6 .6 .1 5.1 2.3 6.3 7.7 4.2

1998 .2 .0 -.1 .2 .6 -.9 -.8 2.0 -.7 .6 -.4 .1 1.9 .8 -.3 2.3 3.0

1999 .2 .2 -.1 -.1 .6 -.5 .3 .3 -.4 1.2 .2 .5 .7 .3 1.1 5.5 1.1

2000 -.3 .0 .1 .4 -.1 -.1 -.5 -.4 .4 -.6 -.2 -.5 .5 1.5 -3.0 -2.7 1.0

2001 -.7 -.5 -.3 -.2 -.6 -.5 -.3 -.2 -.4 -.5 -.5 -.1 -5.9 -4.4 -4.3 -4.5 -4.0

2002 .7 -.1 .8 .4 .5 .9 -.4 .1 .0 -.4 .5 -.6 2.8 6.2 1.7 -.8 .3

2003 .6 .2 -.3 -.9 -.1 -.1 .2 -.2 .6 -.1 .7 -.1 1.7 -4.7 .8 2.5 .2

2004 .2 .6 -.6 .5 .8 -.8 .8 .1 -.1 1.0 .2 .7 2.2 2.0 2.0 5.3 1.7

2005 .3 .6 -.1 .0 .1 .4 -.3 .0 -2.2 1.2 1.0 .5 4.8 1.3 -2.9 2.1 2.5

2006 .1 .0 .2 .3 -.2 .3 .0 .1 -.2 -.1 -.2 1.0 3.4 1.8 .8 .0 1.4

2007 -.5 1.1 -.1 .6 .1 .1 .0 .1 .3 -.7 .4 -.1 3.1 3.9 1.1 -.8 1.8

2008 -.4 -.3 -.4 -.9 -.5 -.2 -.4 -1.6 -4.3 1.0 -1.0 -2.7 -2.6 -6.5 -12.3 -14.9 -4.2

2009 -2.3 -.7 -1.7 -1.0 -1.1 -.4 .9 1.1 .6 .3 .4 .4 -19.6 -11.8 4.8 6.1 -11.3

2010 1.0 .2 .7 .3 1.6 .2 .6 .2 .2 -.4 .2 .9 7.2 7.9 5.9 .9 5.0

2011 -.2 -.5 1.1 -.6 .3 .1 .6 .5 .1 .6 .2 .6 1.9 1.0 4.8 4.7 2.9

2012 .7 .5 -.6 .8 .3 .0 .5 -.7 .1 -.2 1.3 .2 5.4 2.9 .5 2.1 3.6

2013 .2 .8

IP (2007=100)

1983 63.2 62.8 63.3 64.0 64.4 64.7 65.6 66.4 67.2 67.7 67.9 68.2 63.1 64.4 66.4 67.9 65.5

1984 69.6 69.8 70.1 70.4 70.7 70.9 71.1 71.1 70.9 70.8 71.0 71.1 69.8 70.7 71.0 71.0 70.6

1985 70.9 71.2 71.3 71.2 71.3 71.3 70.9 71.2 71.6 71.3 71.5 72.3 71.1 71.3 71.2 71.7 71.3

1986 72.6 72.1 71.6 71.6 71.7 71.6 71.9 71.7 71.7 72.1 72.4 72.9 72.1 71.7 71.8 72.4 72.0

1987 72.6 73.5 73.6 74.0 74.4 74.8 75.1 75.6 75.7 76.8 77.2 77.5 73.2 74.4 75.5 77.2 75.1

1988 77.5 77.8 78.0 78.3 78.2 78.3 78.4 78.7 78.4 78.8 79.0 79.3 77.8 78.3 78.5 79.0 78.4

1989 79.5 79.2 79.5 79.4 78.9 78.9 78.0 78.7 78.5 78.3 78.5 78.9 79.4 79.1 78.4 78.6 78.9

1990 78.3 79.1 79.5 79.3 79.4 79.7 79.5 79.7 79.9 79.2 78.2 77.6 79.0 79.5 79.7 78.3 79.1

1991 77.3 76.7 76.2 76.4 77.1 77.8 77.8 77.9 78.6 78.4 78.3 77.9 76.7 77.1 78.1 78.2 77.5

1992 77.2 77.8 78.4 78.9 79.1 79.0 79.6 79.1 79.2 79.7 80.0 80.0 77.8 79.0 79.3 79.9 79.0

1993 80.4 80.7 80.6 80.8 80.4 80.6 80.8 80.7 81.0 81.6 81.8 82.2 80.5 80.6 80.9 81.9 81.0

1994 82.5 82.5 83.3 83.5 83.8 84.3 84.3 84.6 84.7 85.2 85.6 86.3 82.8 83.9 84.5 85.7 84.2

1995 86.4 86.3 86.2 85.9 86.0 86.2 85.7 86.7 86.7 86.3 86.4 86.5 86.3 86.0 86.4 86.4 86.3

1996 85.7 86.8 86.5 87.2 87.7 88.2 87.8 88.2 88.5 88.2 88.9 89.3 86.3 87.7 88.1 88.8 87.7

1997 89.2 90.0 90.5 90.2 90.5 90.7 91.0 91.9 92.6 93.1 93.7 93.8 89.9 90.4 91.8 93.5 91.4

1998 94.0 94.0 93.9 94.1 94.6 93.8 93.1 94.9 94.3 94.8 94.5 94.6 94.0 94.2 94.1 94.6 94.2

1999 94.7 94.9 94.8 94.7 95.2 94.7 95.0 95.4 95.0 96.1 96.3 96.8 94.8 94.9 95.1 96.4 95.3

2000 96.5 96.5 96.6 97.0 96.9 96.8 96.3 95.9 96.3 95.7 95.6 95.1 96.5 96.9 96.1 95.5 96.3

2001 94.5 93.9 93.7 93.5 92.9 92.4 92.2 92.0 91.7 91.2 90.8 90.7 94.0 93.0 91.9 90.9 92.5

2002 91.4 91.2 91.9 92.3 92.8 93.6 93.3 93.3 93.3 93.0 93.4 92.9 91.5 92.9 93.3 93.1 92.7

2003 93.5 93.7 93.4 92.5 92.4 92.3 92.5 92.3 92.9 92.7 93.4 93.3 93.5 92.4 92.6 93.1 92.9

2004 93.4 94.0 93.4 93.9 94.6 93.8 94.5 94.6 94.5 95.4 95.6 96.3 93.6 94.1 94.6 95.8 94.5

2005 96.6 97.1 97.0 97.0 97.1 97.5 97.2 97.2 95.1 96.2 97.1 97.7 96.9 97.2 96.5 97.0 96.9

2006 97.7 97.7 97.9 98.3 98.1 98.4 98.4 98.6 98.4 98.2 98.1 99.1 97.8 98.2 98.4 98.4 98.2

2007 98.5 99.6 99.5 100.1 100.1 100.3 100.3 100.4 100.7 100.0 100.4 100.3 99.2 100.2 100.4 100.2 100.0

2008 99.9 99.6 99.2 98.3 97.8 97.6 97.2 95.6 91.5 92.4 91.5 89.1 99.6 97.9 94.8 91.0 95.8

2009 87.0 86.5 85.0 84.2 83.3 83.0 83.7 84.6 85.2 85.4 85.7 86.1 86.2 83.5 84.5 85.7 85.0

2010 86.9 87.1 87.7 87.9 89.3 89.5 90.0 90.2 90.4 90.0 90.2 91.0 87.3 88.9 90.2 90.4 89.2

2011 90.8 90.4 91.4 90.8 91.1 91.3 91.8 92.3 92.4 92.9 93.1 93.6 90.8 91.1 92.1 93.2 91.8

2012 94.3 94.8 94.2 95.0 95.2 95.2 95.7 95.0 95.1 94.9 96.1 96.3 94.4 95.1 95.2 95.7 95.1

2013 96.4 97.2

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

1. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

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

29
Table 10B

CAPACITY AND UTILIZATION: Total Industry Excluding Selected High-Technology Industries1

Seasonally adjusted

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

Capacity

(percent of

2007 output)

1983 87.8 87.8 87.8 87.7 87.7 87.7 87.7 87.6 87.6 87.6 87.6 87.7 87.8 87.7 87.6 87.7 87.7

1984 87.7 87.8 87.8 87.9 88.0 88.1 88.2 88.3 88.5 88.6 88.8 88.9 87.8 88.0 88.3 88.8 88.2

1985 89.1 89.2 89.4 89.6 89.7 89.9 90.0 90.2 90.3 90.4 90.5 90.6 89.2 89.7 90.2 90.5 89.9

1986 90.7 90.8 90.9 91.0 91.0 91.1 91.2 91.2 91.3 91.4 91.5 91.6 90.8 91.0 91.2 91.5 91.1

1987 91.7 91.8 91.9 92.0 92.1 92.2 92.3 92.4 92.4 92.5 92.6 92.6 91.8 92.1 92.4 92.6 92.2

1988 92.6 92.6 92.6 92.6 92.6 92.6 92.6 92.7 92.7 92.7 92.8 92.9 92.6 92.6 92.7 92.8 92.7

1989 92.9 93.0 93.2 93.3 93.4 93.6 93.8 93.9 94.1 94.3 94.4 94.6 93.0 93.4 93.9 94.4 93.7

1990 94.8 94.9 95.1 95.2 95.4 95.5 95.6 95.7 95.9 96.0 96.1 96.2 94.9 95.4 95.7 96.1 95.5

1991 96.3 96.4 96.5 96.7 96.8 96.9 97.0 97.1 97.2 97.3 97.4 97.5 96.4 96.8 97.1 97.4 96.9

1992 97.6 97.6 97.7 97.8 97.9 98.0 98.1 98.2 98.3 98.4 98.5 98.6 97.6 97.9 98.2 98.5 98.1

1993 98.7 98.8 98.9 99.0 99.1 99.2 99.3 99.4 99.5 99.6 99.7 99.8 98.8 99.1 99.4 99.7 99.3

1994 100.0 100.1 100.2 100.3 100.5 100.6 100.8 100.9 101.1 101.3 101.5 101.7 100.1 100.5 100.9 101.5 100.7

1995 101.8 102.0 102.2 102.4 102.6 102.8 103.0 103.2 103.4 103.5 103.7 103.9 102.0 102.6 103.2 103.7 102.9

1996 104.1 104.2 104.4 104.6 104.8 105.0 105.2 105.4 105.6 105.8 106.1 106.4 104.2 104.8 105.4 106.1 105.1

1997 106.7 107.0 107.3 107.6 108.0 108.3 108.7 109.1 109.5 110.0 110.4 110.8 107.0 108.0 109.1 110.4 108.6

1998 111.2 111.7 112.1 112.5 112.9 113.3 113.7 114.1 114.4 114.8 115.1 115.4 111.6 112.9 114.1 115.1 113.4

1999 115.7 116.0 116.3 116.6 116.8 117.1 117.3 117.5 117.7 117.9 118.1 118.3 116.0 116.8 117.5 118.1 117.1

2000 118.4 118.6 118.7 118.9 119.0 119.1 119.3 119.4 119.5 119.7 119.8 119.9 118.6 119.0 119.4 119.8 119.2

2001 120.0 120.2 120.3 120.5 120.6 120.7 120.9 121.0 121.2 121.3 121.4 121.5 120.2 120.6 121.0 121.4 120.8

2002 121.7 121.7 121.8 121.9 121.9 121.9 121.9 121.9 121.8 121.8 121.7 121.6 121.7 121.9 121.9 121.7 121.8

2003 121.5 121.4 121.4 121.3 121.2 121.1 121.0 121.0 120.9 120.9 120.9 120.8 121.4 121.2 121.0 120.9 121.1

2004 120.8 120.7 120.7 120.7 120.6 120.6 120.5 120.5 120.5 120.4 120.4 120.4 120.7 120.6 120.5 120.4 120.6

2005 120.4 120.5 120.5 120.6 120.6 120.7 120.8 121.0 121.1 121.2 121.4 121.6 120.5 120.7 121.0 121.4 120.9

2006 121.7 121.9 122.1 122.2 122.4 122.6 122.8 122.9 123.1 123.3 123.5 123.6 121.9 122.4 122.9 123.5 122.7

2007 123.8 123.9 124.0 124.1 124.2 124.2 124.2 124.2 124.1 124.1 124.0 123.9 123.9 124.2 124.2 124.0 124.1

2008 123.8 123.8 123.7 123.6 123.6 123.6 123.7 123.8 123.9 124.0 124.1 124.3 123.8 123.6 123.8 124.1 123.8

2009 124.4 124.4 124.5 124.5 124.5 124.4 124.3 124.1 123.8 123.6 123.3 123.0 124.4 124.5 124.1 123.3 124.1

2010 122.6 122.3 122.0 121.6 121.3 121.0 120.8 120.5 120.3 120.1 120.0 119.9 122.3 121.3 120.5 120.0 121.0

2011 119.8 119.8 119.7 119.7 119.8 119.9 120.0 120.1 120.2 120.4 120.6 120.8 119.8 119.8 120.1 120.6 120.1

2012 121.0 121.2 121.5 121.7 121.9 122.1 122.4 122.6 122.8 123.0 123.2 123.3 121.2 121.9 122.6 123.2 122.2

2013 123.5 123.7

Utilization

(percent)

1983 72.0 71.5 72.1 72.9 73.4 73.8 74.8 75.7 76.7 77.3 77.4 77.8 71.9 73.4 75.8 77.5 74.6

1984 79.3 79.5 79.8 80.1 80.4 80.5 80.6 80.5 80.2 79.9 80.0 79.9 79.5 80.3 80.4 79.9 80.1

1985 79.6 79.8 79.8 79.5 79.5 79.4 78.8 79.0 79.3 78.8 79.0 79.7 79.7 79.5 79.0 79.2 79.3

1986 80.1 79.4 78.8 78.7 78.8 78.6 78.8 78.5 78.6 78.8 79.1 79.7 79.4 78.7 78.6 79.2 79.0

1987 79.2 80.1 80.1 80.4 80.8 81.1 81.4 81.8 81.9 83.0 83.4 83.7 79.8 80.8 81.7 83.4 81.4

1988 83.7 84.0 84.2 84.5 84.4 84.6 84.6 85.0 84.6 85.0 85.1 85.4 83.9 84.5 84.7 85.2 84.6

1989 85.6 85.1 85.3 85.2 84.5 84.3 83.2 83.8 83.4 83.0 83.1 83.4 85.3 84.7 83.5 83.2 84.2

1990 82.7 83.3 83.6 83.3 83.3 83.4 83.2 83.3 83.3 82.5 81.4 80.7 83.2 83.3 83.2 81.5 82.8

1991 80.2 79.5 78.9 79.0 79.7 80.4 80.3 80.2 80.9 80.6 80.4 79.9 79.6 79.7 80.5 80.3 80.0

1992 79.2 79.7 80.2 80.6 80.8 80.6 81.1 80.6 80.6 81.0 81.2 81.1 79.7 80.6 80.8 81.1 80.6

1993 81.5 81.6 81.5 81.6 81.2 81.2 81.4 81.2 81.4 81.9 82.1 82.3 81.5 81.3 81.3 82.1 81.6

1994 82.6 82.5 83.1 83.2 83.4 83.8 83.6 83.8 83.7 84.1 84.3 84.9 82.7 83.5 83.7 84.5 83.6

1995 84.9 84.6 84.3 83.9 83.8 83.8 83.2 84.0 83.9 83.4 83.3 83.3 84.6 83.9 83.7 83.3 83.9

1996 82.3 83.3 82.9 83.4 83.7 84.1 83.5 83.7 83.8 83.3 83.8 84.0 82.8 83.7 83.6 83.7 83.5

1997 83.7 84.2 84.3 83.8 83.8 83.7 83.7 84.2 84.5 84.7 84.9 84.7 84.1 83.8 84.1 84.7 84.2

1998 84.5 84.2 83.8 83.6 83.8 82.8 81.9 83.2 82.4 82.6 82.1 81.9 84.2 83.4 82.5 82.2 83.1

1999 81.8 81.8 81.5 81.2 81.5 80.9 81.0 81.1 80.7 81.5 81.5 81.9 81.7 81.2 80.9 81.6 81.4

2000 81.5 81.4 81.4 81.6 81.4 81.2 80.7 80.3 80.6 80.0 79.8 79.3 81.4 81.4 80.5 79.7 80.8

2001 78.7 78.2 77.9 77.7 77.1 76.6 76.3 76.0 75.6 75.2 74.7 74.6 78.2 77.1 76.0 74.8 76.5

2002 75.1 74.9 75.5 75.7 76.1 76.8 76.5 76.6 76.6 76.4 76.8 76.4 75.2 76.2 76.5 76.5 76.1

2003 76.9 77.1 76.9 76.3 76.2 76.2 76.4 76.3 76.8 76.7 77.3 77.2 77.0 76.2 76.5 77.1 76.7

2004 77.4 77.8 77.4 77.8 78.4 77.8 78.4 78.5 78.5 79.2 79.4 79.9 77.5 78.0 78.5 79.5 78.4

2005 80.2 80.6 80.5 80.5 80.5 80.8 80.5 80.4 78.5 79.3 80.0 80.4 80.4 80.6 79.8 79.9 80.2

2006 80.3 80.2 80.2 80.4 80.1 80.3 80.2 80.2 79.9 79.7 79.4 80.1 80.2 80.3 80.1 79.7 80.1

2007 79.6 80.4 80.2 80.6 80.6 80.7 80.7 80.8 81.1 80.6 81.0 81.0 80.1 80.7 80.9 80.8 80.6

2008 80.7 80.5 80.2 79.5 79.1 78.9 78.6 77.2 73.8 74.5 73.7 71.7 80.5 79.2 76.6 73.3 77.4

2009 70.0 69.5 68.3 67.6 66.9 66.7 67.4 68.2 68.8 69.1 69.6 70.0 69.3 67.1 68.1 69.6 68.5

2010 70.9 71.2 71.9 72.3 73.6 74.0 74.5 74.8 75.1 74.9 75.2 75.9 71.3 73.3 74.8 75.3 73.7

2011 75.8 75.5 76.3 75.8 76.1 76.1 76.5 76.8 76.8 77.2 77.2 77.5 75.9 76.0 76.7 77.3 76.5

2012 77.9 78.2 77.6 78.0 78.1 77.9 78.2 77.5 77.5 77.2 78.0 78.0 77.9 78.0 77.7 77.7 77.8

2013 78.1 78.6

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

1. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

30
Table 11A

INDUSTRIAL PRODUCTION: Manufacturing Excluding Selected High-Technology Industries1,2

Seasonally adjusted

Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Q1 Q2 Q3 Q4 Annual3

IP (percent

change)

1983 2.5 -.2 .8 1.0 1.2 .6 1.2 .9 1.5 1.0 .3 .2 8.2 10.6 13.5 10.9 3.7

1984 1.8 1.0 .4 .4 .1 .3 .4 .1 -.3 .4 .3 .4 11.7 4.7 2.3 1.9 8.5

1985 -.5 -.2 .8 -.2 .2 .1 -.5 .6 .2 -.3 .6 .4 -.1 1.5 .5 2.3 1.4

1986 1.2 -.6 -.3 .4 .1 -.2 .3 .1 .1 .4 .4 .8 4.8 -.1 1.2 4.2 2.2

1987 -.5 1.4 .1 .4 .7 .3 .6 .3 .5 1.6 .6 .5 4.6 6.0 5.7 10.6 4.6

1988 -.2 .2 .2 .8 -.2 .1 .0 .0 .3 .5 .3 .4 2.0 3.5 .2 4.2 4.4

1989 .8 -1.0 .0 .1 -.9 .2 -1.3 .8 -.3 -.3 .1 .0 2.3 -3.0 -4.3 -.7 .4

1990 -.3 1.5 .4 -.3 .1 .2 -.2 .3 -.1 -.9 -1.2 -.8 3.5 2.4 .5 -7.5 .0

1991 -.8 -.8 -.8 .3 .7 1.1 .3 .2 1.1 -.2 -.3 -.3 -9.6 1.3 7.1 1.1 -2.6

1992 -.9 .9 .9 .4 .5 .1 .8 -.5 -.1 .5 .3 -.2 -1.2 7.0 2.7 1.5 2.6

1993 1.1 .1 -.3 .5 -.1 -.2 .3 -.2 .5 .7 .3 .5 4.0 .6 .3 5.7 2.5

1994 .1 .1 1.1 .6 .5 .2 .2 .6 .1 .7 .6 .9 4.2 7.1 3.7 7.0 4.4

1995 .1 -.3 -.1 -.4 -.1 .3 -.8 .9 .5 -.4 -.1 .0 2.8 -2.3 .4 .6 2.5

1996 -1.2 1.3 -.5 1.0 .5 .8 -.1 .3 .4 -.4 .7 .7 -1.9 7.3 4.0 2.8 1.5

1997 -.2 1.1 .8 -.7 .5 .4 .2 1.3 .6 .5 .8 .1 6.2 2.8 6.9 8.1 4.9

1998 .5 .0 -.3 .3 .4 -1.1 -.9 2.4 -.8 .7 -.1 .2 3.2 -.2 -.5 4.0 3.4

1999 -.1 .5 -.4 -.1 .8 -.7 .0 .6 -.4 1.4 .4 .4 .8 .3 .2 6.7 1.4

2000 -.3 -.2 .3 .4 -.6 .0 -.4 -.8 .4 -.6 -.6 -.8 .3 .6 -3.8 -4.8 .7

2001 -.6 -.5 -.3 -.1 -.7 -.6 -.1 -.6 -.2 -.7 -.2 .2 -7.0 -4.5 -4.6 -4.3 -4.8

2002 .6 -.2 .7 .1 .6 1.1 -.6 .3 .0 -.5 .4 -.6 3.4 5.5 2.4 -1.1 .4

2003 .4 .0 .1 -1.1 -.1 .2 -.1 -.5 .8 -.2 .9 -.3 .7 -4.0 .0 2.7 .0

2004 -.1 .7 -.2 .4 .8 -.8 .9 .5 -.2 1.0 -.1 .6 1.7 3.3 3.7 4.9 2.0

2005 .6 .7 -.5 .2 .3 .1 -.3 .1 -1.3 1.4 .8 .0 5.2 1.3 -1.9 4.3 3.1

2006 .8 -.3 -.1 .5 -.6 .2 -.2 .3 .0 -.5 .0 1.5 3.3 .0 -.1 .5 1.5

2007 -.6 .3 .6 .5 .0 .5 .1 -.5 .4 -.6 .3 .0 3.3 4.5 1.0 -1.4 1.8

2008 -.5 -.8 -.5 -1.3 -.6 -.6 -1.0 -1.4 -3.5 -.4 -2.0 -3.2 -4.3 -9.3 -13.8 -20.5 -5.8

2009 -2.9 -.2 -2.1 -.9 -1.2 -.3 1.2 1.1 .7 .1 1.1 .0 -23.5 -12.3 6.5 6.6 -13.8

2010 .8 -.2 1.2 .8 1.4 .0 .7 .0 .0 .0 .0 .4 5.6 10.3 4.8 .8 5.1

2011 .0 .0 .8 -.8 .2 .0 .7 .3 .4 .6 -.1 1.0 2.4 -.4 4.8 5.1 2.8

2012 1.1 .7 -.5 .6 -.3 .3 .2 -.6 .0 -.6 1.4 1.0 8.2 1.5 -.2 2.0 3.9

2013 -.1 .6

IP (2007=100)

1983 60.6 60.5 61.0 61.7 62.4 62.8 63.6 64.2 65.1 65.8 66.0 66.1 60.7 62.3 64.3 66.0 63.3

1984 67.3 68.0 68.2 68.5 68.6 68.8 69.1 69.1 68.9 69.1 69.3 69.6 67.8 68.6 69.0 69.3 68.7

1985 69.2 69.1 69.6 69.5 69.6 69.7 69.3 69.8 69.9 69.7 70.1 70.4 69.3 69.6 69.7 70.1 69.7

1986 71.3 70.8 70.6 70.9 70.9 70.8 71.0 71.1 71.2 71.4 71.7 72.3 70.9 70.9 71.1 71.8 71.2

1987 71.9 73.0 73.0 73.3 73.8 74.0 74.4 74.7 75.0 76.2 76.6 77.0 72.6 73.7 74.7 76.6 74.4

1988 76.8 77.0 77.2 77.8 77.6 77.6 77.6 77.6 77.9 78.3 78.5 78.8 77.0 77.7 77.7 78.5 77.7

1989 79.5 78.7 78.7 78.8 78.1 78.2 77.2 77.8 77.6 77.3 77.4 77.4 79.0 78.4 77.5 77.4 78.1

1990 77.2 78.3 78.7 78.4 78.5 78.7 78.5 78.7 78.6 77.9 77.0 76.3 78.0 78.5 78.6 77.1 78.1

1991 75.7 75.2 74.6 74.8 75.3 76.1 76.3 76.5 77.3 77.1 76.9 76.7 75.2 75.4 76.7 76.9 76.0

1992 76.0 76.7 77.4 77.7 78.1 78.2 78.8 78.4 78.3 78.7 78.9 78.8 76.7 78.0 78.5 78.8 78.0

1993 79.6 79.7 79.4 79.8 79.7 79.5 79.7 79.6 80.0 80.6 80.8 81.2 79.6 79.7 79.8 80.9 80.0

1994 81.3 81.4 82.4 82.8 83.2 83.3 83.5 84.0 84.1 84.7 85.2 86.0 81.7 83.1 83.9 85.3 83.5

1995 86.1 85.8 85.8 85.4 85.3 85.5 84.8 85.6 86.0 85.7 85.6 85.6 85.9 85.4 85.5 85.6 85.6

1996 84.6 85.7 85.3 86.2 86.6 87.4 87.3 87.6 87.9 87.6 88.2 88.8 85.2 86.7 87.6 88.2 86.9

1997 88.6 89.6 90.3 89.7 90.2 90.5 90.7 91.8 92.4 92.9 93.7 93.8 89.5 90.1 91.6 93.5 91.2

1998 94.3 94.3 94.0 94.2 94.6 93.6 92.8 95.0 94.3 95.0 94.8 95.0 94.2 94.1 94.0 94.9 94.3

1999 95.0 95.4 95.0 95.0 95.7 95.0 95.0 95.6 95.2 96.5 96.8 97.2 95.1 95.2 95.3 96.8 95.6

2000 96.9 96.7 97.0 97.4 96.9 96.9 96.5 95.7 96.1 95.6 95.0 94.2 96.9 97.0 96.1 95.0 96.3

2001 93.7 93.2 92.9 92.8 92.2 91.6 91.5 91.0 90.8 90.2 90.0 90.2 93.2 92.2 91.1 90.1 91.7

2002 90.8 90.6 91.3 91.4 92.0 93.0 92.5 92.7 92.8 92.3 92.7 92.2 90.9 92.1 92.7 92.4 92.0

2003 92.6 92.5 92.6 91.6 91.5 91.7 91.7 91.3 92.0 91.8 92.6 92.3 92.6 91.6 91.6 92.2 92.0

2004 92.3 92.9 92.7 93.1 93.8 93.1 94.0 94.4 94.3 95.2 95.1 95.7 92.6 93.4 94.2 95.4 93.9

2005 96.3 97.0 96.5 96.6 96.9 97.1 96.8 96.9 95.6 96.9 97.7 97.7 96.6 96.9 96.4 97.4 96.8

2006 98.5 98.2 98.1 98.5 98.0 98.2 98.0 98.3 98.3 97.8 97.8 99.3 98.2 98.2 98.2 98.3 98.3

2007 98.7 99.1 99.6 100.1 100.1 100.6 100.7 100.2 100.6 99.9 100.2 100.3 99.1 100.2 100.5 100.1 100.0

2008 99.7 99.0 98.5 97.2 96.7 96.1 95.1 93.8 90.5 90.1 88.3 85.4 99.0 96.7 93.1 87.9 94.2

2009 82.9 82.7 81.0 80.3 79.4 79.1 80.0 81.0 81.5 81.6 82.5 82.4 82.2 79.6 80.8 82.2 81.2

2010 83.1 82.9 83.9 84.6 85.8 85.8 86.4 86.4 86.4 86.4 86.4 86.8 83.3 85.4 86.4 86.5 85.4

2011 86.8 86.8 87.5 86.8 87.0 87.0 87.7 88.0 88.3 88.9 88.8 89.7 87.1 87.0 88.0 89.1 87.8

2012 90.6 91.3 90.8 91.3 91.0 91.3 91.5 91.0 91.0 90.5 91.8 92.7 90.9 91.2 91.2 91.6 91.2

2013 92.6 93.2

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

2. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

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

31
Table 11B

CAPACITY AND UTILIZATION: Manufacturing Excluding Selected High-Technology Industries1,2

Seasonally adjusted

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

Capacity

(percent of

2007 output)

1983 86.9 86.9 86.9 86.8 86.8 86.7 86.7 86.7 86.7 86.7 86.7 86.7 86.9 86.8 86.7 86.7 86.8

1984 86.7 86.7 86.8 86.9 87.0 87.1 87.2 87.4 87.5 87.7 87.8 88.0 86.8 87.0 87.4 87.8 87.2

1985 88.2 88.4 88.6 88.7 88.9 89.1 89.2 89.4 89.5 89.6 89.7 89.8 88.4 88.9 89.4 89.7 89.1

1986 89.9 90.0 90.0 90.1 90.1 90.2 90.3 90.3 90.4 90.5 90.6 90.7 90.0 90.1 90.3 90.6 90.3

1987 90.9 91.0 91.2 91.3 91.4 91.6 91.7 91.8 91.9 92.0 92.1 92.1 91.0 91.4 91.8 92.1 91.6

1988 92.1 92.2 92.2 92.1 92.1 92.1 92.1 92.1 92.1 92.2 92.2 92.3 92.2 92.1 92.1 92.2 92.2

1989 92.4 92.5 92.6 92.8 92.9 93.1 93.3 93.5 93.6 93.8 94.0 94.2 92.5 92.9 93.5 94.0 93.2

1990 94.4 94.5 94.7 94.9 95.0 95.2 95.3 95.5 95.6 95.7 95.9 96.0 94.5 95.0 95.5 95.9 95.2

1991 96.1 96.3 96.4 96.5 96.6 96.7 96.8 97.0 97.1 97.2 97.3 97.4 96.2 96.6 97.0 97.3 96.8

1992 97.5 97.6 97.7 97.8 97.9 98.0 98.1 98.2 98.3 98.5 98.6 98.7 97.6 97.9 98.2 98.6 98.1

1993 98.8 98.9 99.0 99.1 99.3 99.4 99.5 99.6 99.7 99.8 99.9 100.0 98.9 99.3 99.6 99.9 99.4

1994 100.1 100.2 100.4 100.5 100.6 100.8 100.9 101.1 101.2 101.4 101.6 101.8 100.2 100.6 101.1 101.6 100.9

1995 102.0 102.2 102.4 102.6 102.8 103.1 103.3 103.5 103.7 103.9 104.1 104.4 102.2 102.8 103.5 104.1 103.2

1996 104.6 104.8 105.0 105.2 105.4 105.7 105.9 106.1 106.4 106.7 107.0 107.3 104.8 105.4 106.1 107.0 105.8

1997 107.6 108.0 108.3 108.7 109.1 109.5 110.0 110.4 110.9 111.4 111.9 112.4 108.0 109.1 110.4 111.9 109.8

1998 112.8 113.3 113.8 114.3 114.7 115.2 115.6 116.1 116.5 116.9 117.3 117.6 113.3 114.7 116.1 117.3 115.3

1999 118.0 118.3 118.7 119.0 119.3 119.6 119.8 120.1 120.4 120.6 120.8 121.1 118.3 119.3 120.1 120.8 119.6

2000 121.3 121.5 121.7 121.9 122.0 122.2 122.4 122.5 122.7 122.9 123.0 123.1 121.5 122.0 122.5 123.0 122.3

2001 123.3 123.4 123.5 123.6 123.7 123.8 123.9 124.0 124.0 124.1 124.1 124.1 123.4 123.7 124.0 124.1 123.8

2002 124.1 124.1 124.1 124.1 124.1 124.0 124.0 123.9 123.9 123.8 123.8 123.7 124.1 124.1 123.9 123.8 124.0

2003 123.6 123.6 123.5 123.4 123.4 123.3 123.2 123.2 123.1 123.0 123.0 122.9 123.6 123.4 123.2 123.0 123.3

2004 122.8 122.8 122.7 122.6 122.6 122.5 122.5 122.4 122.4 122.4 122.5 122.5 122.8 122.6 122.5 122.5 122.6

2005 122.6 122.7 122.8 123.0 123.1 123.3 123.5 123.7 123.9 124.1 124.3 124.5 122.7 123.1 123.7 124.3 123.5

2006 124.7 124.9 125.1 125.2 125.4 125.6 125.8 125.9 126.1 126.2 126.3 126.5 124.9 125.4 125.9 126.3 125.6

2007 126.6 126.7 126.8 126.9 127.0 127.1 127.2 127.3 127.4 127.4 127.5 127.5 126.7 127.0 127.3 127.5 127.1

2008 127.5 127.5 127.4 127.4 127.3 127.2 127.1 127.0 126.8 126.7 126.5 126.2 127.5 127.3 127.0 126.5 127.1

2009 126.0 125.7 125.4 125.1 124.8 124.5 124.2 123.8 123.5 123.2 122.8 122.5 125.7 124.8 123.8 122.8 124.3

2010 122.2 121.8 121.5 121.2 121.0 120.7 120.4 120.2 119.9 119.7 119.5 119.3 121.9 121.0 120.2 119.5 120.6

2011 119.2 119.0 118.9 118.8 118.8 118.7 118.7 118.7 118.8 118.8 118.9 119.0 119.0 118.8 118.7 118.9 118.9

2012 119.1 119.3 119.4 119.6 119.7 119.9 120.1 120.2 120.4 120.6 120.7 120.9 119.3 119.7 120.2 120.7 120.0

2013 121.0 121.2

Utilization

(percent)

1983 69.8 69.7 70.3 71.0 71.9 72.4 73.3 74.0 75.2 76.0 76.2 76.3 69.9 71.8 74.2 76.1 73.0

1984 77.6 78.4 78.6 78.8 78.8 79.0 79.2 79.1 78.7 78.9 78.9 79.0 78.2 78.9 79.0 78.9 78.8

1985 78.5 78.2 78.6 78.3 78.3 78.2 77.7 78.1 78.1 77.7 78.1 78.4 78.4 78.3 77.9 78.1 78.2

1986 79.3 78.7 78.4 78.7 78.7 78.5 78.7 78.7 78.7 78.9 79.1 79.7 78.8 78.6 78.7 79.2 78.8

1987 79.2 80.2 80.1 80.3 80.7 80.8 81.2 81.3 81.6 82.8 83.2 83.6 79.8 80.6 81.4 83.2 81.2

1988 83.4 83.6 83.7 84.4 84.2 84.3 84.3 84.3 84.5 84.9 85.1 85.4 83.6 84.3 84.4 85.1 84.3

1989 86.0 85.1 84.9 84.9 84.0 84.0 82.7 83.2 82.8 82.4 82.3 82.2 85.3 84.3 82.9 82.3 83.7

1990 81.8 82.8 83.1 82.6 82.6 82.6 82.3 82.5 82.3 81.4 80.3 79.5 82.6 82.6 82.4 80.4 82.0

1991 78.8 78.1 77.4 77.5 77.9 78.7 78.8 78.9 79.7 79.4 79.1 78.7 78.1 78.0 79.1 79.1 78.6

1992 78.0 78.6 79.2 79.5 79.8 79.8 80.3 79.8 79.6 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 80.7 80.9 81.2 80.4 80.3 80.1 81.0 80.4

1994 81.2 81.2 82.1 82.4 82.7 82.7 82.8 83.1 83.1 83.5 83.9 84.5 81.5 82.6 83.0 84.0 82.8

1995 84.4 84.0 83.7 83.2 82.9 83.0 82.2 82.7 83.0 82.4 82.2 82.0 84.0 83.1 82.6 82.2 83.0

1996 80.9 81.8 81.3 81.9 82.2 82.7 82.4 82.5 82.6 82.1 82.4 82.8 81.3 82.3 82.5 82.4 82.1

1997 82.4 83.0 83.4 82.5 82.6 82.6 82.5 83.2 83.3 83.4 83.7 83.5 82.9 82.6 83.0 83.5 83.0

1998 83.6 83.2 82.6 82.5 82.5 81.2 80.2 81.8 80.9 81.3 80.9 80.8 83.1 82.1 81.0 81.0 81.8

1999 80.5 80.6 80.1 79.8 80.2 79.4 79.3 79.6 79.1 80.0 80.1 80.3 80.4 79.8 79.3 80.1 79.9

2000 79.9 79.6 79.8 79.9 79.4 79.3 78.9 78.1 78.3 77.8 77.3 76.5 79.8 79.5 78.4 77.2 78.7

2001 76.0 75.5 75.2 75.1 74.5 74.0 73.9 73.4 73.2 72.7 72.5 72.7 75.6 74.5 73.5 72.6 74.1

2002 73.1 73.0 73.5 73.6 74.1 75.0 74.6 74.8 74.9 74.6 74.9 74.5 73.2 74.2 74.8 74.7 74.2

2003 74.9 74.9 75.0 74.2 74.2 74.4 74.4 74.1 74.7 74.6 75.3 75.1 74.9 74.3 74.4 75.0 74.6

2004 75.1 75.7 75.6 76.0 76.6 76.0 76.7 77.1 77.0 77.8 77.7 78.1 75.5 76.2 76.9 77.8 76.6

2005 78.5 79.0 78.5 78.6 78.7 78.7 78.4 78.3 77.2 78.1 78.6 78.5 78.7 78.7 78.0 78.4 78.4

2006 79.0 78.6 78.4 78.7 78.1 78.2 77.9 78.1 78.0 77.5 77.4 78.5 78.7 78.3 78.0 77.8 78.2

2007 78.0 78.2 78.5 78.9 78.8 79.1 79.1 78.7 79.0 78.4 78.6 78.6 78.2 78.9 78.9 78.6 78.7

2008 78.2 77.6 77.3 76.3 75.9 75.5 74.8 73.9 71.4 71.1 69.8 67.7 77.7 75.9 73.3 69.5 74.1

2009 65.8 65.8 64.6 64.2 63.6 63.5 64.5 65.4 66.0 66.3 67.1 67.3 65.4 63.8 65.3 66.9 65.3

2010 68.0 68.0 69.0 69.7 70.9 71.1 71.7 71.9 72.0 72.2 72.3 72.7 68.4 70.6 71.9 72.4 70.8

2011 72.9 73.0 73.6 73.1 73.3 73.3 73.9 74.1 74.4 74.8 74.6 75.3 73.1 73.2 74.1 74.9 73.8

2012 76.1 76.5 76.0 76.3 76.0 76.2 76.2 75.7 75.6 75.0 76.0 76.7 76.2 76.2 75.8 75.9 76.0

2013 76.5 76.9

NOTE: Estimates from October 2012 through February 2013 are subject to further revision in the upcoming monthly releases.

1. See footnote 2 to table 3.

2. High-technology industries include computers, communications equipment, and semiconductors and related electronic components.

32
Table 12

ANNUAL PROPORTIONS IN INDUSTRIAL PRODUCTION, MARKET AND INDUSTRY GROUP SUMMARY

Item 2005 2006 2007 2008 2009 2010 2011 2012

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 55.9 55.9 54.7 55.1 56.4 54.0 53.4 53.5

Consumer goods 29.1 28.4 27.3 27.3 29.6 27.9 27.5 27.1

Durable 7.1 6.9 6.7 6.3 6.2 5.8 5.6 5.8

Automotive products 3.3 3.2 3.3 3.0 3.1 3.0 2.8 3.0

Home electronics .4 .4 .3 .3 .3 .2 .2 .1

Appliances, furniture, carpeting 1.3 1.2 1.1 1.0 .9 .8 .8 .8

Miscellaneous goods 2.2 2.2 2.0 2.0 1.9 1.9 1.9 1.9

Nondurable 22.0 21.5 20.6 20.9 23.4 22.1 21.9 21.3

Non-energy 16.5 16.2 15.6 16.2 17.9 16.4 16.2 16.0

Foods and tobacco 8.8 8.5 8.2 8.6 9.9 9.2 9.0 9.1

Clothing .5 .4 .3 .3 .2 .2 .2 .2

Chemical products 4.9 5.0 5.0 5.1 5.5 4.9 5.0 4.9

Paper products 1.7 1.7 1.6 1.6 1.7 1.6 1.5 1.4

Energy 5.5 5.4 5.0 4.8 5.5 5.6 5.7 5.3

Business equipment 9.3 9.8 9.7 10.0 9.4 9.2 9.2 9.6

Transit 1.8 2.1 2.1 2.0 1.9 2.1 1.9 2.2

Information processing 2.7 2.8 2.7 2.7 2.6 2.3 2.1 2.1

Industrial and other 4.8 4.9 5.0 5.2 4.9 4.9 5.2 5.4

Defense and space equipment 1.5 1.5 1.8 2.0 2.3 2.4 2.2 2.3

Construction supplies 4.9 5.1 4.9 4.8 4.2 4.1 4.1 4.2

Business supplies 10.4 10.3 10.1 10.2 10.4 9.9 9.7 9.5

Materials 44.1 44.1 45.3 44.9 43.6 46.0 46.6 46.5

Non-energy 28.8 28.5 28.3 28.1 27.0 28.4 28.9 29.0

Durable 17.7 17.6 17.3 17.1 15.3 16.6 17.3 17.6

Consumer parts 3.3 3.1 2.9 2.6 1.9 2.3 2.4 2.6

Equipment parts 6.1 6.0 6.1 6.4 5.9 6.1 6.5 6.5

Other 8.3 8.5 8.4 8.2 7.5 8.2 8.5 8.5

Nondurable 11.2 10.9 11.0 11.0 11.7 11.8 11.6 11.4

Textile .7 .6 .5 .4 .4 .5 .4 .4

Paper 2.3 2.3 2.2 2.3 2.3 2.2 2.1 2.0

Chemical 5.1 4.9 5.2 4.9 5.2 5.7 5.6 5.6

Energy 15.2 15.6 17.0 16.8 16.5 17.6 17.7 17.5

INDUSTRY GROUPS

Manufacturing 78.2 77.6 76.1 75.8 75.7 74.8 74.8 75.5

Manufacturing (NAICS) 31–33 74.2 73.7 72.5 72.2 72.1 71.6 71.9 72.7

Durable manufacturing 39.1 39.3 39.2 39.2 36.5 36.9 37.2 38.3

Wood products 321 1.5 1.4 1.2 1.1 1.0 .9 .9 .9

Nonmetallic mineral products 327 2.3 2.3 2.2 2.0 1.7 1.6 1.6 1.5

Primary metals 331 2.6 2.7 2.7 2.5 2.1 2.9 3.1 3.1

Fabricated metal products 332 5.3 5.5 5.8 6.0 5.3 5.2 5.4 5.6

Machinery 333 4.8 5.0 5.1 5.4 4.9 5.1 5.5 5.8

Computer and electronic products 334 7.2 7.0 6.8 7.0 6.6 6.4 6.3 6.1

Electrical equip., appliances,

and components 335 1.9 1.9 1.9 2.0 1.9 1.8 1.8 1.8

Motor vehicles and parts 3361–3 5.8 5.5 5.2 4.5 4.0 4.5 4.2 4.6

Aerospace and miscellaneous

transportation equipment 3364–9 3.2 3.4 4.0 4.3 4.6 4.4 4.3 4.6

Furniture and related products 337 1.6 1.5 1.4 1.4 1.1 1.0 1.0 1.0

Miscellaneous 339 3.0 3.1 2.9 3.2 3.4 3.2 3.1 3.2

Nondurable manufacturing 35.1 34.3 33.3 33.0 35.6 34.7 34.6 34.4

Food, beverage, and tobacco products 311,2 10.5 10.1 9.9 10.5 12.1 11.2 10.9 11.1

Textile and product mills 313,4 1.2 1.1 .9 .8 .7 .7 .7 .7

Apparel and leather 315,6 .6 .6 .4 .4 .3 .3 .3 .3

Paper 322 2.6 2.6 2.5 2.6 2.8 2.6 2.5 2.4

Printing and support 323 2.0 1.9 1.9 1.9 1.8 1.6 1.5 1.4

Petroleum and coal products 324 4.0 4.0 3.3 2.7 3.1 3.6 4.0 4.0

Chemicals 325 11.0 10.9 11.3 11.2 11.9 11.8 11.8 11.7

Plastics and rubber products 326 3.2 3.2 3.0 3.0 2.9 2.9 2.9 2.9

Other manufacturing (non-NAICS) 1133,5111 4.0 3.9 3.6 3.6 3.6 3.1 3.0 2.8

Mining 21 12.1 12.8 14.1 13.7 12.6 14.0 14.6 14.6

Utilities 2211,2 9.7 9.6 9.8 10.5 11.7 11.2 10.6 9.9

Electric 2211 7.9 8.0 8.1 8.8 10.0 9.7 9.3 8.8

Natural gas 2212 1.8 1.6 1.7 1.7 1.7 1.5 1.3 1.2

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 2012 and 2013 would account for a 0.383 percent increase in total IP.

33
Table 13

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY

Seasonally adjusted

2007=100 Percent change

2012 2013 2012 2013 Feb. ’12 to

Industrial production Sept.r Oct.r Nov.r Dec.r

Jan.rFeb.rSept.r Oct.r Nov.r Dec.rJan.rFeb.rFeb. ’13

Total index 97.0 96.8 98.0 98.2 98.3 99.0 .2 -.1 1.2 .1 .1 .8 2.5

Previous estimates 97.2 97.0 98.5 98.7 98.8 99.5 .2 -.2 1.5 .3 .0 .7 2.5

Major market groups

Final Products 95.2 94.4 95.9 95.8 96.0 96.7 .3 -.8 1.5 -.1 .3 .8 2.7

Consumer goods 92.4 91.9 93.2 93.0 93.4 93.9 .4 -.6 1.4 -.2 .5 .5 2.0

Business equipment 100.1 98.9 101.1 101.4 100.8 102.6 -.2 -1.2 2.2 .3 -.6 1.8 5.7

Nonindustrial supplies 86.1 85.9 87.2 87.4 87.9 88.7 .0 -.2 1.5 .2 .6 .9 2.4

Construction 78.0 77.8 79.5 80.7 81.4 82.7 .4 -.2 2.2 1.4 1.0 1.6 4.4

Materials 102.4 102.9 103.8 104.1 104.1 104.8 .2 .4 .9 .3 -.1 .7 2.3

Major industry groups

Manufacturing (see note below) 93.6 93.2 94.5 95.3 95.2 95.8 .1 -.4 1.4 .9 -.2 .6 2.0

Previous estimates 93.9 93.2 94.8 96.1 95.7 96.5 .0 -.7 1.7 1.3 -.3 .8 2.0

Mining 114.3 115.1 116.0 115.9 115.0 116.0 1.2 .6 .8 -.1 -.8 .9 3.2

Utilities 99.0 100.2 100.9 95.5 99.2 100.9 -.5 1.2 .7 -5.4 3.9 1.6 4.7

Capacity

Percent of capacity growth

Average 1988- 1990- 1994- 2008-

1972- 89 91 95 09 2012 2012 2013 Feb. ’12 to

Capacity utilization 2012 high low high low Feb. Sept.r Oct.r Nov.r Dec.r

Jan.rFeb.rFeb. ’13

Total industry 80.2 85.2 78.8 85.0 66.9 77.9 77.2 77.0 77.8 77.8 77.8 78.3 2.0

Previous estimates 80.2 85.2 78.8 85.0 66.8 79.0 78.4 78.1 79.2 79.3 79.2 79.6 1.7

Manufacturing (see note below) 78.7 85.6 77.3 84.6 64.0 76.2 75.3 74.9 75.8 76.4 76.2 76.6 1.6

Previous estimates 78.8 85.6 77.3 84.6 63.8 78.0 76.8 76.1 77.3 78.2 77.8 78.3 1.6

Mining 87.3 86.3 83.9 88.6 78.3 88.8 88.0 88.2 88.7 88.3 87.4 87.8 4.3

Utilities 86.2 92.9 84.3 93.3 78.6 76.8 78.1 78.9 79.3 75.0 77.9 79.1 1.7

Stage-of-process groups

Crude 86.3 87.7 84.4 89.7 76.4 86.8 86.4 86.5 87.1 87.0 86.1 86.6 2.9

Primary and semifinished 81.0 86.5 78.0 87.9 64.4 75.5 74.8 75.2 75.9 75.5 76.1 76.7 .5

Finished 77.1 83.4 77.3 80.6 66.8 76.7 76.0 74.9 75.9 76.4 76.1 76.4 3.4

r Revised.

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

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

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

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

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

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

34
Table 14

NETWORKING EQUIPMENT, 2000–2012

Production Index Price Index Value of Production

(2007=100) (2007=100) (millions of dollars)

Annual Estimates

2000 97.8 227.3 26,343.4

2001 104.2 199.5 24,640.7

2002 68.4 180.9 14,682.0

2003 70.4 154.6 12,900.4

2004 69.2 135.0 11,087.1

2005 87.8 120.6 12,540.0

2006 142.1 110.9 18,498.8

2007 100.0 100.0 12,188.4

2008 8.5 93.2 942.8

2009 24.6 82.4 2,395.9

2010 33.4 72.8 2,889.5

2011 35.0 60.7 2,510.2

2012 n.a. 56.3 n.a.

Quarterly Estimates

2000Q1 98.6 233.2 25,206.1

Q2 108.6 216.9 25,840.0

Q3 107.7 226.6 26,777.4

Q4 107.9 232.8 27,545.8

2001Q1 122.4 206.7 27,755.3

Q2 114.7 201.4 25,347.5

Q3 109.3 196.0 23,500.4

Q4 102.8 194.6 21,956.5

2002Q1 80.3 192.0 16,906.5

Q2 73.2 183.8 14,756.4

Q3 71.2 177.6 13,867.6

Q4 70.3 171.7 13,234.2

2003Q1 68.4 162.9 12,214.8

Q2 78.0 162.9 13,930.0

Q3 83.3 153.9 14,057.6

Q4 74.7 139.6 11,442.5

2004Q1 80.7 146.6 12,978.7

Q2 71.2 137.5 10,739.2

Q3 72.7 131.6 10,498.3

Q4 77.0 125.2 10,572.8

2005Q1 76.1 122.3 10,205.2

Q2 86.4 120.1 11,386.9

Q3 104.7 120.3 13,812.8

Q4 119.2 120.0 15,694.0

2006Q1 105.6 118.3 13,696.5

Q2 122.4 111.8 15,002.3

Q3 172.8 108.1 20,494.0

Q4 234.3 105.6 27,136.4

2007Q1 195.3 103.8 22,234.3

Q2 168.0 102.4 18,863.9

Q3 17.3 98.5 1,866.4

Q4 19.4 95.2 2,023.3

2008Q1 9.8 97.6 1,050.8

Q2 7.2 94.5 749.5

Q3 8.4 92.6 848.5

Q4 11.8 87.8 1,136.9

2009Q1 12.0 83.7 1,100.5

Q2 22.1 84.3 2,040.1

Q3 34.0 79.5 2,966.6

Q4 40.7 81.8 3,655.4

2010Q1 36.4 77.8 3,109.3

Q2 34.2 73.5 2,761.1

Q3 37.4 71.1 2,915.9

Q4 35.6 68.6 2,676.0

2011Q1 30.6 64.5 2,165.9

Q2 35.3 60.3 2,336.4

Q3 40.3 59.9 2,646.3

Q4 45.1 58.1 2,871.0

2012Q1 n.a. 58.4 n.a.

Q2 n.a. 58.1 n.a.

Q3 n.a. 54.9 n.a.

Q4 n.a. 53.8 n.a.

NOTE: The production index in the table is calculated as the value of production divided by the price index and then indexed to 2007.

The production index does not reflect changes to IP for benchmark purposes and so it is not equivalent to the IP index for data networking equipment.

n.a.: not available

35
EXPLANATORY NOTE

The Industrial Production and Capacity Utilization statistical

release, which is published around the middle of the month, reports

measures of output, capacity, and capacity utilization in

manufacturing, mining, and the electric and gas utilities industries.

More detailed descriptions of industrial production and capacity

utilization are available 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 2007. Manufacturing

consists of those industries included in the North American Industry

Classification System, or NAICS, definition of manufacturing plus

those industries–logging and newspaper, periodical, book and

directory publishing–that have traditionally been considered to be

manufacturing and included in the industrial sector. For the period

since 1997, the total IP index has been constructed from 312

individual series based on the 2007 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 computers, communications equipment, and semiconductors.

When suitable data on physical product are not available, estimates of

output are based on production-worker hours by industry. Data on

hours worked by production workers are collected in the monthly

establishment survey conducted by the Bureau of Labor Statistics.

The factors used to convert inputs into estimates of production are

based on historical relationships between the inputs and the

comprehensive annual data used to benchmark the IP indexes; these

factors also may be influenced by technological or cyclical

developments. The annual data used in benchmarking the individual

IP indexes are constructed from a variety of source data, such as the

quinquennial Censuses of Manufactures and Mineral Industries and

the Annual Survey of Manufactures, prepared by the Bureau of the

Census; the Minerals Yearbook, prepared by the 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 January

2013; for other series, the factors were estimated with data through at

least December 2012. Series are pre-adjusted for the effects of

holidays or the business cycle when appropriate. For the data since

1972, all seasonally adjusted aggregate indexes are calculated by

aggregating the seasonally adjusted indexes of the individual series.

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

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

0.27 percent during the 1987–2010 period. The average revision to

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

the fourth estimates was 0.21 percentage point during the 1987–2010

period. In most cases (about 85 percent), the direction of the change

in output indicated by the first estimate for a given month is the same

as that shown by the fourth estimate.

36
Rounding. The published percent changes are calculated from

unrounded indexes, and may not be the same as percent changes

calculated from the rounded indexes shown in the release.

CAPACITY UTILIZATION

Overview. The Federal Reserve Board constructs estimates of

capacity and capacity utilization for industries in manufacturing,

mining, and electric and gas utilities. For a given industry, the

capacity utilization rate is equal to an output index (seasonally

adjusted) divided by a capacity index. The Federal Reserve Board’s

capacity indexes attempt to capture the concept of sustainable

maximum output—the greatest level of output a plant can maintain

within the framework of a realistic work schedule, after factoring in

normal downtime and assuming sufficient availability of inputs to

operate the capital in place.

Coverage. Capacity indexes are constructed for 89 detailed industries

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

correspond to industries at the three- and four-digit NAICS level.

Estimates of capacity and utilization are available for a variety of

groups, including durable and nondurable manufacturing, total

manufacturing, mining, utilities, and total industry. Manufacturing

consists of those industries included in the North American Industry

Classification System, or NAICS, definition of manufacturing plus

those industries—logging and newspaper, periodical, book and

directory publishing—that have traditionally been considered to be

manufacturing and included in the industrial sector. Also, special

aggregates are available, such as high-technology industries and

manufacturing excluding high-technology industries.

Source Data. The monthly rates of capacity utilization are designed

to be consistent with both the monthly data on production and the

periodically available data on capacity and utilization. Because there

is no direct monthly information on overall industrial capacity or

utilization rates, the Federal Reserve first estimates annual capacity

indexes from the source data. Capacity data reported in physical units

from government sources (primarily from the U.S. Geological Survey

and the Department of Energy’s Energy Information Administration)

and trade sources are available for portions of several industries in

manufacturing (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 1972–2012 period, the average total industry

utilization rate was 80.2 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

At 9:15 a.m. on

2013: January 16, February 15, March 15, April 16, May 15, June 14,

July 16, August 15, September 16, October 17, November 15, and

December 16.

37