Federal Reserve Statistical Release, G.17, Industrial Production and Capacity Utilization; title with eagle logo links to Statistical Releases home page
Release Date: April 16, 2002


Current Monthly Release | ASCII | PDF (144 KB)
Supplemental Monthly Release | ASCII | PDF (144 KB)
Annual Revision Release | ASCII | PDF (150 KB)

Release dates | Historical data | Documentation

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
Supplement

Industrial production rose 0.7 percent in March for a third consecutive monthly increase. At 138.8 percent of its 1992 average, output reached its highest level since August 2001 but was 2.9 percent below its level in March 2001. Manufacturing output climbed 0.8 percent; the output at utilities increased 1.6 percent, but production at mines declined by the same amount. For the first quarter as a whole, total industrial production increased at an annual rate of 2.5 percent. The rate of capacity utilization for total industry moved up in March to 75.4 percent but was still below its 1967-2001 average of 81.9 percent.

Market Groups

The output of consumer goods rose 0.6 percent in March; gains were widespread across durables and nondurables. Among durables, the production of automotive products and home electronics moved up slightly after two months of decline. Much larger gains occurred in the production of appliances, furniture, and carpeting, which increased 1.3 percent, and in the production of miscellaneous durable goods, which jumped 2.5 percent. These two groups accounted for most of the rise of consumer durables. The production indexes both for energy and non-energy nondurables rose 0.5 percent. Within the non-energy category, the output of clothing increased 2.0 percent. Clothing production rose at an annual rate of more than 11 percent in the first quarter, a near reversal of its decline in the fourth quarter of last year. In contrast, the production of paper products remained weak; it has posted eleven consecutive monthly declines and was 9.6 percent below its level in March 2001.

The production of business equipment edged up 0.1 percent in March. Gains of 1.1 percent in the information-processing group and in the industrial and other equipment group were almost completely offset by a 3.2 percent drop in the output of transit equipment. The drop in transit equipment largely reflects a further curtailment of commercial aircraft production. Despite the gain in March, the output of business equipment declined in the first quarter at an annual rate of 5.2 percent and was about 12 percent below its level in March 2001. The production of defense and space equipment rose 1.1 percent.

The output of construction supplies climbed 1.2 percent in March and was led by an increase in the production of lumber. In the first quarter, the output of construction supplies rose at an annual rate of more than 8 percent, which nearly reversed its decline in the fourth quarter of 2001. The production of business supplies moved up 0.8 percent, its largest increase since May 2000; the output of both general business supplies and commercial energy products contributed to the rise.

The production of materials continued to be strong; output rose 0.9 percent in March and returned to a level not seen since May of last year. Continuing the pattern of increases that began in January of this year, gains in March were widespread across both durable and nondurable categories. Among durable materials, consumer parts posted the largest gain. Among nondurables, textile materials recorded the greatest increase. The production of energy materials fell 0.4 percent.

Industry Groups

Manufacturing output rose 0.8 percent in March. The production of both durable and nondurable goods increased, and gains were evident in nearly all major industry groups. Within durables, output for nearly all industries advanced 1.0 percent or more; the only exceptions were motor vehicles and parts and instruments, which posted smaller gains, and aerospace and miscellaneous transportation equipment, which continued to slide. Among nondurables, textile mill products, apparel, and paper and products all increased at least 1.0 percent. The output of petroleum products fell back 0.3 percent, and production in the printing and publishing industry continued to recede.

The factory operating rate rose 0.5 percentage point in March, to 73.9 percent, its highest level since August 2001. The utilization rate for advanced-processing industries moved up 0.3 percentage point, to 73.1 percent, and the rate for primary-processing industries increased to 75.1 percent. The operating rate at utilities climbed to 84.6 percent, but the operating rate for mining declined for the sixth consecutive month, to 84.3 percent.

 INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION:  SUMMARY
 Seasonally adjusted
                              |             Index, 1992=100             |                    Percent change
                              |     2001      2002                      |   2001    2002                  |        Mar. 01 to
 Industrial Production        |     Dec.      Jan.      Feb.      Mar.  |   Dec.    Jan.    Feb.    Mar.  |         Mar. 02
 -----------------------------------------------------------------------------------------------------------------------------
                              |                                         |                                 |
  Total index                 |    136.7     137.4     137.9     138.8  |    -.4      .5      .3      .7  |              -2.9
     Previous estimates       |    136.8     137.1     137.6            |    -.3      .2      .4          |                  
                              |                                         |                                 |
 Major market groups:         |                                         |                                 |
     Products, total          |    126.5     126.5     126.8     127.5  |    -.2      .0      .2      .6  |              -3.5
        Consumer goods        |    120.6     120.5     121.0     121.7  |     .5     -.1      .5      .6  |               -.1
        Business equipment    |    164.3     164.7     163.5     163.7  |   -1.7      .2     -.7      .1  |             -11.7
        Construction supplies |    135.6     135.7     137.5     139.2  |    1.2      .1     1.3     1.2  |               -.2
     Materials                |    153.6     155.7     156.5     157.9  |    -.8     1.4      .5      .9  |              -1.9
                              |                                         |                                 |
 Major industry groups:       |                                         |                                 |
     Manufacturing            |    141.6     142.5     142.7     143.9  |    -.3      .6      .2      .8  |              -2.7
        Durable               |    174.1     175.4     175.8     177.5  |    -.1      .7      .2     1.0  |              -3.9
        Nondurable            |    109.7     110.3     110.4     111.0  |    -.5      .6      .1      .5  |              -1.3
     Mining                   |     97.4      97.3      96.6      95.1  |   -1.6     -.1     -.7    -1.6  |              -7.2
     Utilities                |    115.2     114.9     118.3     120.2  |    -.8     -.3     3.0     1.6  |              -1.3
 -----------------------------------------------------------------------------------------------------------------------------
                               |                                                                           |    Capacity
                               |                            Percent of Capacity                            |     Growth
                               |   Average      1982   1988-89     2001  |   2001    2002                  |    Mar. 01 to
 Capacity Utilization          |  1967-01        Low      High     Mar.  |   Dec.    Jan.    Feb.    Mar.  |     Mar. 02
 --------------------------------------------------------------------------------------------------------------------------
                               |                                         |                                 |
  Total industry               |     81.9      71.1      85.4      78.5  |   74.4    74.7    74.9    75.4  |           1.1
     Previous estimates        |                                         |   74.4    74.5    74.8          |              
                               |                                         |                                 |
     Manufacturing             |     80.9      69.0      85.7      76.7  |   72.9    73.3    73.4    73.9  |           1.0
        Advanced processing    |     80.3      71.0      84.2      76.6  |   73.0    72.9    72.8    73.1  |            .6
        Primary processing     |     82.0      65.7      88.3      76.8  |   72.7    73.9    74.4    75.1  |           1.6
     Mining                    |     87.6      80.3      88.0      91.6  |   86.4    86.2    85.6    84.3  |            .8
     Utilities                 |     87.6      75.9      92.6      90.2  |   82.0    81.4    83.6    84.6  |           5.2
 --------------------------------------------------------------------------------------------------------------------------
 Note:  Estimates for March are preliminary.  Estimates from December to February are revised.



                     
                     

G.17 Release Supplement Tables:

Ascii Screen reader Summary: Industrial Production and Capacity Utilization
Chart   Chart 1: Industrial Production and Capacity Utilization
Ascii Screen reader Table 1A:Industrial Production: Market Groups
Ascii Screen reader Table 1B:Industrial Production: Market Groups (percent change)
Ascii Screen reader Table 2A:Industrial Production: Industry Groups
Ascii Screen reader Table 2B: Industrial Production: Industry Groups (percent change)
Ascii Screen reader Table 3: Capacity Utilization: Manufacturing, Mining, and Utilities
Ascii Screen reader Table 4: Industrial Capacity: Manufacturing, Mining, and Utilities
Ascii Screen reader Table 5A: Industrial Production, Capacity and Utilization for Total Industry: Historical Data
Ascii Screen reader Table 5B: Industrial Production, Capacity and Utilization for Manufacturing: Historical Data
Ascii Screen reader Table 6: Industrial Production: Industry Subtotals and Individual Series
Ascii Screen reader Table 7: Industrial Production: Gross Value of Products
Ascii Screen reader Table 8:Diffusion Indexes of Industrial Production
Ascii Screen reader Table 9:Electric Power Use: Manufacturing and Mining

Current Monthly Release | ASCII | PDF (144 KB)
Supplemental Monthly Release | ASCII | PDF (144 KB)
Annual Revision Release | ASCII | PDF (150 KB)

Release dates | Historical data | Documentation


Home | Statistical releases
Accessibility
To comment on this site, please fill out our feedback form.
Last update: April 16, 2002, 9:15 AM