Release Date: July 16, 2003 Release dates | Historical data | Documentation Current Monthly Release Other formats: ASCII | PDF (144 KB) Supplemental Monthly Release Other formats: ASCII | PDF (144 KB) Annual Revision Release Other formats: ASCII | PDF (150 KB) INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Industrial production rose 0.1 percent in both May and June. Manufacturing posted gains of 0.1 percent in May and 0.4 percent in June, thereby rising in consecutive months for the first time since August. Production in mining increased 1.0 percent in June, but the output of utilities fell sharply, a drop reflecting unseasonably cool weather. Despite the recent gains, industrial output decreased at an annual rate of 3.2 percent in the second quarter. At 109.7 percent of its 1997 average, industrial production was 1.0 percent lower than its level in June 2002. Capacity utilization for total industry was unchanged at 74.3 percent, a rate 7 percentage points below its 1972-2002 average. INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY Seasonally adjusted -------------------------------------------------------------------------------------------------------------------------------------- | 1997=100 | Percent change | ----------------------------------------------- | ------------------------------------------------- | 2003 | 2003 | June '02 to Industrial production | Mar. Apr. May June | Mar. Apr. May June | June '03 -------------------------------------------------------------------------------------------------------------------------------------- | | | Total index | 110.1 109.5 109.6 109.7 | -.6 -.5 .1 .1 | -1.0 Previous estimates | 110.1 109.4 109.6 | -.6 -.6 .1 | | | | Major market groups | | | Final Products | 106.7 106.2 106.2 106.6 | -.4 -.5 .0 .4 | -.8 Consumer goods | 107.2 106.7 106.5 107.0 | -.5 -.5 -.2 .4 | -.8 Business equipment | 105.5 104.8 105.2 105.5 | -.3 -.7 .4 .3 | -2.3 Nonindustrial supplies | 113.8 112.9 113.4 112.9 | -.8 -.8 .5 -.4 | -1.6 Construction | 101.4 100.7 101.0 101.0 | -.4 -.7 .3 -.1 | -3.3 Materials | 112.1 111.6 111.5 111.5 | -.7 -.4 -.1 .0 | -1.0 | | | Major industry groups | | | Manufacturing (see note below) | 110.9 110.2 110.3 110.8 | -.2 -.6 .1 .4 | -1.0 Previous estimates | 110.9 110.1 110.3 | -.2 -.7 .2 | Mining | 92.8 92.9 93.4 94.4 | .0 .1 .6 1.0 | .9 Utilities | 111.7 111.8 111.0 107.1 | -4.0 .1 -.8 -3.5 | -2.7 -------------------------------------------------------------------------------------------------------------------------------------- | | Capacity | Percent of capacity | growth | --------------------------------------------------------------------------------- | --------------- | Average 1982 1988-89 2002 | 2003 | June '02 to Capacity utilization | 1972-2002 Low High June | Mar. Apr. May June | June '03 -------------------------------------------------------------------------------------------------------------------------------------- | | | Total industry | 81.3 70.8 85.1 75.9 | 74.8 74.4 74.3 74.3 | 1.1 Previous estimates | | 74.8 74.3 74.3 | | | | Manufacturing (see note below) | 80.2 68.6 85.6 74.1 | 73.1 72.5 72.6 72.8 | .7 Previous estimates | | 73.1 72.5 72.6 | Mining | 86.9 78.6 85.6 84.9 | 84.1 84.2 84.6 85.4 | .3 Utilities | 86.7 77.2 92.6 87.2 | 84.6 84.3 83.4 80.2 | 5.9 | | | Stage-of-process groups | | | Crude | 86.4 77.2 88.6 83.3 | 82.8 82.4 82.6 83.1 | -.2 Primary and semifinished | 82.2 67.9 86.2 77.9 | 77.0 76.5 76.5 75.9 | 1.4 Finished | 78.5 71.3 83.1 71.9 | 70.5 70.0 70.0 70.5 | .8 -------------------------------------------------------------------------------------------------------------------------------------- r Revised. p Preliminary. Market Groups
In June, the output of consumer goods rose 0.4 percent as the production of both durables and non-energy nondurables posted gains; the production of consumer energy products, held down by a sharp decline in utility output for residential use, fell 3.0 percent. Among durables, the output of automotive products, which had fallen sharply over the previous four months, rose 1.5 percent in June. The output of other durable consumer goods eased a bit after having increased in May. The production of non-energy nondurables rose 1.1 percent, with notable expansions in chemical products, paper products, and foods and tobacco. The production of business equipment rose for a second month, led by a broad-based increase in industrial and other equipment. The production of information processing equipment was little changed; another gain in the output of computers was offset by declines in the production of communications equipment. The output of transit equipment fell 1.5 percent with weakness in medium and heavy trucks as well as in commercial aircraft. Defense and space equipment rose 0.4 percent after a downward-revised 1.0 percent rise in May. Both construction supplies and business supplies, which increased in May, posted small declines in June. The output of materials was unchanged as small gains in durables and nondurables were about offset by the weak level of electricity generation.
Industry Groups
Capacity utilization in manufacturing edged up 0.2 percentage point in June, to 72.8 percent. The output of both durable and nondurable manufacturers (NAICS) rose 0.4 percent. Increases among durables were widespread, with the most significant gains occurring in motor vehicles and parts and in primary metals. The increase in nondurables was concentrated in chemicals and in food, beverage, and tobacco products. In mining, the 1.0 percentage point increase in output reflected widespread gains, and capacity utilization moved up to 85.4 percent. With the sharp drop in output, capacity utilization at utilities fell to 80.1 percent in June, the lowest level since July 1983. Capacity utilization for industries in the crude stage of processing rose 0.5 percentage point, to 83.1 percent, and utilization for industries in the finished goods stage rose 0.5 percentage point, to 70.5 percent. Capacity utilization for the industries in the primary and semifinished stage fell 0.6 percentage point, to 75.9 percent.
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