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
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| | 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
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Note: Estimates for March are preliminary. Estimates from December to February are revised.
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Last update: April 16, 2002, 9:15 AM