Release Date: August 15, 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 0.5 percent in July after having changed little in the previous two months. Manufacturing output rose 0.2 percent after gains in May and June. The output at utilities climbed 3.9 percent, as the weather turned warm in July after an unusually cool June. Production in mining fell 0.4 percent. At 110.0 percent of its 1997 average, industrial production was 1.4 percent lower than its level in July 2002. Capacity utilization for total industry rose 0.3 percentage point, to 74.5 percent, a rate 6.8 percentage points below its 1972-2002 average. INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY Seasonally adjusted -------------------------------------------------------------------------------------------------------------------------------------- | 1997=100 | Percent change | ----------------------------------------------- | ------------------------------------------------- | 2003 | 2003 | July '02 to Industrial production | Apr. May June July | Apr. May June July | July '03 -------------------------------------------------------------------------------------------------------------------------------------- | | | Total index | 109.5 109.5 109.5 110.0 | -.5 .1 .0 .5 | -1.4 Previous estimates | 109.5 109.6 109.7 | -.5 .1 .1 | | | | Major market groups | | | Final Products | 106.3 106.3 106.5 107.0 | -.5 .0 .2 .5 | -.8 Consumer goods | 106.8 106.5 106.7 107.2 | -.4 -.2 .1 .5 | -1.2 Business equipment | 104.8 105.3 105.7 106.1 | -.7 .4 .4 .4 | -1.1 Nonindustrial supplies | 113.0 113.7 113.3 113.7 | -.7 .6 -.4 .4 | -1.6 Construction | 101.0 101.6 101.6 101.8 | -.4 .6 .0 .2 | -2.6 Materials | 111.4 111.3 111.1 111.6 | -.6 -.2 -.1 .4 | -1.9 | | | Major industry groups | | | Manufacturing (see note below) | 110.1 110.3 110.6 110.8 | -.7 .2 .3 .2 | -1.4 Previous estimates | 110.2 110.3 110.8 | -.6 .1 .4 | Mining | 93.0 92.6 93.8 93.4 | .2 -.4 1.2 -.4 | -1.0 Utilities | 112.1 111.1 107.4 111.5 | .4 -.9 -3.3 3.9 | -1.9 -------------------------------------------------------------------------------------------------------------------------------------- | | Capacity | Percent of capacity | growth | --------------------------------------------------------------------------------- | --------------- | Average 1982 1988-89 2002 | 2003 | July '02 to Capacity utilization | 1972-2002 Low High July | Apr. May June July | July '03 -------------------------------------------------------------------------------------------------------------------------------------- | | | Total industry | 81.3 70.8 85.1 76.4 | 74.3 74.3 74.2 74.5 | 1.1 Previous estimates | | 74.4 74.3 74.3 | | | | Manufacturing (see note below) | 80.2 68.6 85.6 74.3 | 72.5 72.6 72.7 72.8 | .7 Previous estimates | | 72.5 72.6 72.8 | Mining | 86.9 78.6 85.6 85.7 | 84.2 83.9 84.9 84.6 | .3 Utilities | 86.7 77.2 92.6 89.6 | 84.5 83.4 80.4 83.2 | 5.7 | | | Stage-of-process groups | | | Crude | 86.4 77.2 88.6 84.4 | 82.2 82.0 82.7 82.5 | -.2 Primary and semifinished | 82.2 67.9 86.2 78.6 | 76.5 76.5 75.9 76.4 | 1.4 Finished | 78.5 71.3 83.1 71.9 | 70.1 70.1 70.4 70.5 | .8 -------------------------------------------------------------------------------------------------------------------------------------- r Revised. p Preliminary. Market Groups
The output of consumer goods rose 0.5 percent in July. Consumer durables production, driven by a 3.5 percent increase in automotive products, rose 2.3 percent. The production of consumer nondurables edged down 0.1 percent. A large rise in consumer energy products--in particular, utility sales to residences--balanced broad-based decreases in non-energy consumer nondurables. The output of clothing fell for another month, and drops in output for chemical products and for paper products reversed most of their June gains. The production of business equipment rose 0.4 percent for a third consecutive month. Increases in the output of farm equipment, construction machinery, and office furniture contributed to a rise in the index for industrial and other equipment. The production of information processing equipment edged up. A rise in the assemblies of light trucks offset decreases in the output of other business vehicles and commercial aircraft, movements that left the production of transit equipment little changed. Defense and space equipment rose 1.1 percent and is 6.5 percent above year-ago levels. Business supplies reversed a small decline in June, and construction supplies edged up 0.2 percent. Materials production rose 0.4 percent after five months of decline. Energy materials picked up as a result of increased electricity generation. Gains in the output of motor vehicle parts and semiconductors boosted the output of durable goods materials, while weakness in textile materials reduced the output of nondurable goods materials.
Industry Groups
Production in manufacturing increased 0.2 percent, as an increase for durables was mostly offset by declines at nondurable and other (non-NAICS) manufacturers. Output in durable manufacturing rose 0.8 percent in July, after gains in May and June. Production indexes increased nearly 1 percent or more for wood products, primary metals, computer and electronic products, motor vehicles and parts, and furniture. The output of nondurable manufacturers declined 0.4 percent. The output of chemicals and food declined noticeably. Capacity utilization in manufacturing edged up to 72.8 percent. In mining, declines in natural gas and crude oil extraction led to a 0.4 percent decrease in production. Capacity utilization in mining edged down to 84.6 percent. With the sharp rise in output, the operating rate at utilities rose to 83.2 percent. Capacity utilization for industries in the crude stage of processing fell 0.2 percentage point, to 82.5 percent. Utilization for industries in the primary and semifinished stage rose 0.5 percentage point, to 76.4 percent. Utilization for industries in the finished goods stage edged up 0.1 percentage point, to 70.5 percent.
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