Board of Governors of the Federal Reserve System

Industrial Production and Capacity Utilization - G.17

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Revision of Industrial Production and Capacity Utilization

The Federal Reserve Board issued its annual revision to the index of industrial production (IP) and the related measures of capacity utilization on March 28, 2014. The revised indexes for IP incorporated data from the U.S. Geological Survey regarding metallic and nonmetallic minerals (except fuels) for 2012. The update also included revisions to the monthly indicators (either product data or input data) and to seasonal factors for each industry. In addition, the estimation methods for some series changed. Modifications to the methods for estimating the output of an industry affected the index from 1972 to the present.

Capacity and capacity utilization were revised to incorporate data through the fourth quarter of 2013 from the Census Bureau's Quarterly Survey of Plant Capacity, which covers manufacturing, along with new data on capacity from the U.S. Geological Survey, the Department of Energy, and other organizations.

The release for the 2014 annual revision is available on the Federal Reserve Board's website at

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Last update: June 16, 2014