Industrial Production and Capacity Utilization - G.17
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Industrial production (IP) increased 0.5 percent in January after moving up 1.0 percent in December. In January, gains in the output of aircraft and parts contributed 0.2 percentage point to total IP growth following the earlier resolution of a work stoppage at a major aircraft manufacturer. Manufacturing output declined 0.1 percent in January, held down by a 5.2 percent decrease in the index for motor vehicles and parts. The index for mining fell 1.2 percent, while the index for utilities jumped 7.2 percent, as cold temperatures boosted the demand for heating. At 103.5 percent of its 2017 average, total IP in January was 2.0 percent above its year-earlier level. Capacity utilization stepped up to 77.8 percent, a rate that is 1.8 percentage points below its long-run (1972–2024) average.
Industrial Production and Capacity Utilization: Summary
Industrial production | 2017=100 | Percent change | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | 2025 Jan.[p] |
2024 | 2025 Jan.[p] |
Jan. '24 to Jan. '25 |
|||||||||
Aug.[r] | Sept.[r] | Oct.[r] | Nov.[r] | Dec.[r] | Aug.[r] | Sept.[r] | Oct.[r] | Nov.[r] | Dec.[r] | ||||
Total index | 103.0 | 102.6 | 102.1 | 102.0 | 103.0 | 103.5 | .5 | -.4 | -.5 | -.1 | 1.0 | .5 | 2.0 |
Previous estimates | 103.0 | 102.6 | 102.1 | 102.3 | 103.2 | .5 | -.4 | -.5 | .2 | .9 | |||
Major market groups | |||||||||||||
Final Products | 101.0 | 100.1 | 99.0 | 99.0 | 99.7 | 100.7 | .7 | -.9 | -1.1 | .0 | .7 | 1.1 | .7 |
Consumer goods | 102.3 | 102.1 | 101.4 | 101.0 | 101.3 | 102.2 | .9 | -.2 | -.6 | -.4 | .3 | .8 | .9 |
Business equipment | 93.9 | 90.8 | 88.0 | 89.5 | 91.1 | 93.0 | .0 | -3.3 | -3.1 | 1.7 | 1.8 | 2.1 | -.5 |
Nonindustrial supplies | 101.0 | 101.2 | 101.4 | 101.0 | 101.9 | 102.2 | -.2 | .2 | .2 | -.4 | .9 | .3 | 2.7 |
Construction | 100.5 | 100.2 | 100.3 | 100.3 | 102.1 | 101.8 | .3 | -.3 | .2 | .0 | 1.8 | -.2 | 3.1 |
Materials | 105.4 | 105.2 | 105.0 | 104.9 | 106.2 | 106.3 | .5 | -.2 | -.1 | -.2 | 1.3 | .1 | 2.9 |
Major industry groups | |||||||||||||
Manufacturing (see note below) | 99.3 | 99.0 | 98.4 | 98.6 | 99.1 | 99.0 | .6 | -.3 | -.7 | .2 | .5 | -.1 | 1.0 |
Previous estimates | 99.3 | 99.0 | 98.3 | 98.7 | 99.3 | .6 | -.3 | -.7 | .4 | .6 | |||
Mining | 120.1 | 119.2 | 119.1 | 118.2 | 120.6 | 119.2 | 1.3 | -.8 | -.1 | -.7 | 2.0 | -1.2 | 3.4 |
Utilities | 106.3 | 105.6 | 106.1 | 104.1 | 107.2 | 114.9 | -1.1 | -.6 | .4 | -1.8 | 2.9 | 7.2 | 6.9 |
Capacity utilization | Percent of capacity | Capacity growth |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Average 1972- 2024 |
1988- 89 high |
1990- 91 low |
1994- 95 high |
2009 low |
2024 Jan. |
||||||||
2024 | 2025 Jan.[p] |
Jan. '24 to Jan. '25 |
|||||||||||
Aug.[r] | Sept.[r] | Oct.[r] | Nov.[r] | Dec.[r] | |||||||||
Total industry | 79.6 | 85.2 | 78.7 | 84.8 | 66.6 | 77.2 | 77.9 | 77.5 | 77.0 | 76.8 | 77.5 | 77.8 | 1.2 |
Previous estimates | 77.9 | 77.5 | 77.0 | 77.0 | 77.6 | ||||||||
Manufacturing (see note below) | 78.2 | 85.5 | 77.1 | 84.4 | 63.5 | 76.5 | 77.0 | 76.6 | 76.1 | 76.1 | 76.4 | 76.3 | 1.3 |
Previous estimates | 77.0 | 76.6 | 76.0 | 76.2 | 76.6 | ||||||||
Mining | 86.5 | 86.3 | 84.3 | 88.6 | 78.9 | 85.9 | 90.1 | 89.4 | 89.4 | 88.8 | 90.6 | 89.5 | -.7 |
Utilities | 84.2 | 93.2 | 84.7 | 93.2 | 78.1 | 73.4 | 71.1 | 70.5 | 70.5 | 69.0 | 70.8 | 75.7 | 3.6 |
Stage-of-process groups | |||||||||||||
Crude | 85.6 | 87.9 | 84.9 | 90.0 | 77.0 | 83.9 | 87.5 | 87.3 | 87.4 | 87.0 | 88.4 | 87.7 | -.4 |
Primary and semifinished | 80.1 | 86.5 | 77.6 | 87.5 | 63.7 | 76.5 | 76.4 | 76.1 | 76.1 | 75.5 | 76.2 | 77.0 | 1.6 |
Finished | 76.7 | 83.3 | 77.6 | 80.4 | 66.2 | 75.3 | 75.5 | 74.9 | 73.6 | 74.0 | 74.2 | 74.4 | 1.8 |
Market Groups
The majority of market groups posted gains in January. The output of consumer goods increased 0.8 percent, as a rise in the production of nondurable consumer goods outweighed a decline in the production of durable consumer goods. The increase in nondurables was supported by gains in the indexes for energy and chemical products. The index for business equipment grew 2.1 percent, reflecting a strong increase in the production of civilian aircraft. Construction supplies posted a decline of 0.2 percent, and business supplies posted a gain of 0.6 percent. The index for materials rose 0.1 percent, with declines in several non-energy categories offset by gains in energy materials.
Industry Groups
Manufacturing output fell 0.1 percent in January. The durable manufacturing index remained unchanged from December, with large increases in aerospace and miscellaneous transportation equipment offsetting declines in motor vehicles and parts. The nondurable manufacturing index decreased 0.3 percent in January, with decreases in four categories (food, beverage, and tobacco products; printing and support; petroleum and coal products; and plastics and rubber products). The index for other manufacturing (publishing and logging) rose 0.3 percent.
Mining output fell 1.2 percent in January after moving up 2.0 percent in December. In January, the output of utilities jumped 7.2 percent as the output for electric and natural gas utilities increased 6.1 percent and 15.4 percent, respectively.
Capacity utilization for manufacturing decreased 0.1 percentage point in January to 76.3 percent, a rate that is 1.9 percentage points below its long-run (1972–2024) average. The operating rate for mining decreased 1.1 percentage points to 89.5 percent, and the operating rate for utilities moved up 4.9 percentage points to 75.7 percent. The rate for mining was 3.0 percentage points above its long-run average, while the rate for utilities remained well below its long-run average.
Note: Preliminary Estimates of Industrial Capacity
The data in this release include preliminary estimates of industrial capacity for 2025 (table 8). Measured from Q4 to Q4, total industrial capacity is projected to rise 1.5 percent this year after increasing 1.2 percent in 2024. Manufacturing capacity is expected to move up 1.2 percent in 2025 after increasing 1.3 percent in 2024. Capacity in the mining sector is estimated to increase 0.9 percent in 2025 after declining 0.8 percent in 2024. Capacity at electric and natural gas utilities is projected to rise 3.7 percent in 2025 after expanding 3.6 percent in 2024.
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 its industrial output data from the SIC system to NAICS.G.17 Release Tables:
- Summary: Industrial Production and Capacity Utilization
- Chart 1: Industrial Production, Capacity, and Capacity Utilization
- Chart 2: Industrial Production and Capacity Utilization
- Chart 3: Industrial Production of Selected Industries
- Table 1: Industrial Production: Market and Industry Groups (percent change)
- Table 2: Industrial Production: Special Aggregates and Selected Detail (percent change)
- Table 3: Motor Vehicle Assemblies
- Table 4: Industrial Production Indexes: Market and Industry Group Summary
- Table 5: Industrial Production Indexes: Special Aggregates
- Table 6: Diffusion Indexes of Industrial Production
- Table 7: Capacity Utilization: Manufacturing, Mining, and Utilities
- Table 8: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change)
- Table 9: Industrial Production: Gross Value of Products and Nonindustrial Supplies
- Table 10: Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
- Table 11: Historical Statistics for IP, Capacity, and Utilization: Total Industry
- Table 12: Historical Statistics for IP, Capacity, and Utilization: Manufacturing
- Table 13: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries
- Table 14: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries
- Table 15: Industrial Production: Reliability Estimates