INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
[2005 Revision Notice Below]
Industrial production increased 0.1 percent in July after a gain of 0.8 percent in June. Manufacturing
output increased 0.1 percent in July; excluding motor vehicles and parts, manufacturing production rose 0.4
percent. The output at utilities rose 0.7 percent, and production at mines declined 1.3 percent.
At 119.4 percent of its 1997 average, industrial production in July was 3.0 percent above its year-earlier
level. In July, capacity utilization for total industry declined 0.1 percentage point, to 79.7 percent, a
rate 1.3 percentage points below its 1972-2004 average.
INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY
Seasonally adjusted
Industrial production |
1997=100 |
Percent change |
2005 |
2005 |
July '04 to July '05 |
Apr. |
May |
June |
July |
Apr. |
May |
June |
July |
|
|
|
|
|
|
|
|
|
|
Total index |
118.1 |
118.4 |
119.4 |
119.4 |
-.4 |
.3 |
.8 |
.1 |
3.0 |
Previous estimates |
118.2 |
118.6 |
119.7 |
|
-.3 |
.3 |
.9 |
|
|
|
|
|
|
|
|
|
|
|
|
Major market groups |
|
|
|
|
|
|
|
|
|
Final Products |
116.5 |
117.4 |
118.5 |
118.6 |
-.3 |
.8 |
.9 |
.1 |
4.3 |
Consumer goods |
112.4 |
113.3 |
114.6 |
114.1 |
-.9 |
.8 |
1.1 |
-.5 |
3.0 |
Business equipment |
126.9 |
128.2 |
128.5 |
130.1 |
1.0 |
1.1 |
.2 |
1.3 |
6.7 |
Nonindustrial supplies |
115.6 |
115.5 |
116.2 |
116.5 |
.1 |
-.1 |
.6 |
.2 |
3.1 |
Construction |
110.0 |
110.1 |
108.8 |
109.6 |
.6 |
.0 |
-1.1 |
.7 |
1.5 |
Materials |
120.5 |
120.4 |
121.3 |
121.3 |
-.8 |
-.1 |
.8 |
.0 |
1.7 |
|
|
|
|
|
|
|
|
|
|
Major industry groups |
|
|
|
|
|
|
|
|
|
Manufacturing (see note below) |
120.3 |
120.7 |
121.2 |
121.4 |
-.2 |
.4 |
.4 |
.1 |
3.0 |
Previous estimates |
120.4 |
120.9 |
121.4 |
|
-.1 |
.5 |
.4 |
|
|
Mining |
93.0 |
92.8 |
93.2 |
91.9 |
.2 |
-.3 |
.4 |
-1.3 |
-.4 |
Utilities |
114.1 |
114.2 |
119.3 |
120.2 |
-2.8 |
.0 |
4.6 |
.7 |
6.1 |
Capacity utilization |
Percent of capacity |
Capacity growth July '04 to July '05 |
Average 1972-2004 |
1982 Low |
1988-89 High |
2004 July |
2005 |
Apr. |
May |
June |
July |
|
|
|
|
|
|
|
|
|
|
Total industry |
81.0 |
70.8 |
85.1 |
78.3 |
79.0 |
79.2 |
79.8 |
79.7 |
1.2 |
Previous estimates |
|
|
|
|
79.2 |
79.4 |
80.0 |
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing (see note below) |
79.8 |
68.5 |
85.6 |
77.0 |
77.8 |
78.1 |
78.3 |
78.3 |
1.3 |
Previous estimates |
|
|
|
|
77.9 |
78.2 |
78.4 |
|
|
Mining |
87.1 |
78.6 |
85.8 |
87.3 |
88.4 |
88.2 |
88.6 |
87.5 |
-.7 |
Utilities |
86.8 |
77.7 |
92.8 |
84.0 |
83.7 |
83.6 |
87.3 |
87.9 |
1.4 |
|
|
|
|
|
|
|
|
|
|
Stage-of-process groups |
|
|
|
|
|
|
|
|
|
Crude |
86.4 |
77.3 |
88.9 |
86.7 |
86.6 |
86.2 |
86.6 |
85.6 |
-.6 |
Primary and semifinished |
82.1 |
68.0 |
86.5 |
79.7 |
79.7 |
79.6 |
80.3 |
80.5 |
2.0 |
Finished |
77.9 |
71.1 |
83.1 |
74.9 |
76.7 |
77.4 |
77.9 |
77.9 |
.6 |
r Revised. p Preliminary.
The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which the Federal Reserve defines as manufacturing, mining, and electric and
gas utilities. Manufacturing comprises those industries included in the North American Industry
Classification System, or NAICS, manufacturing plus the logging and newspaper, periodical,
book and directory publishing industries that have traditionally been considered manufacturing and included
in the industrial sector.
Market Groups
The output of consumer goods declined 0.5 percent in July. The production of consumer durable
goods fell 1.6 percent; a drop of 2.9 percent in the output of automotive products contributed heavily to
the decrease. The index for appliances, furniture, and carpeting declined 0.6 percent, and the index for
home electronics recorded a rise of about the same amount. The production of consumer nondurables was
unchanged. A decline in the production of paper products offset a rise in the output of clothing, and the
indexes for foods and tobacco and for chemical products were unchanged. The production of consumer energy
products edged down 0.1 percent.
The production of business equipment moved up 1.3 percent in July--the eighth consecutive month of
increases. The index for transit equipment rose 0.2 percent; a rise in the output of medium and heavy
trucks more than offset declines in the production of light motor vehicles and of civilian aircraft. The
output of information processing equipment moved up 2.0 percent, and the index for industrial and other
equipment rose 1.2 percent. The production of defense and space equipment moved up 1.5 percent and was
10.4 percent higher than its year-ago level. The index for construction supplies rose 0.7 percent in July,
and the output of business supplies edged up 0.1 percent.
The output of materials was unchanged in July. A rise of 0.2 percent in the production of non-energy
materials counterbalanced a decline of 0.7 percent in energy materials. Continued gains in the output of
semiconductors boosted the index for durable goods materials, which rose 0.4 percent; the output of
nondurable materials slipped 0.1 percent, as the output of paper materials and of chemical materials
decreased.
Industry Groups
Production in manufacturing increased 0.1 percent in July, as a gain in the output of durables more
than offset a decline in the production of nondurables. Capacity utilization in manufacturing was
unchanged at 78.3 percent, a rate 1.3 percentage points above its rate a year earlier but 1.5 percentage
points below its 1972-2004 average. Within durable goods manufacturing, which rose 0.4 percent, the
production of motor vehicles and parts fell 2.3 percent and reversed much of its June increase. The index
for nonmetallic mineral products also registered a small decline, but production for all other major
categories of durables remained unchanged or increased. The largest gains--2.3 percent each--were recorded
in the index for computer and electronic products, which stood 16.4 percent higher than its level a year
earlier, and the index for primary metals, which turned up after three consecutive months of decline. The
output of nondurable manufacturers decreased 0.2 percent; the production of petroleum and coal products
fell sharply, and the indexes for paper, printing and support, and chemicals registered smaller declines.
The output of non-NAICS manufacturing industries (publishing and logging) declined 0.2 percent.
Utilities output rose 0.7 percent in July as temperatures remained higher than average, and capacity
utilization rose to 87.9 percent, its highest rate since February 2004. Mining output fell 1.3 percent,
partly because of hurricane-related shutdowns of oil and gas platforms in the Gulf of Mexico; the operating
rate declined 1.1 percentage points, to 87.5 percent.
By stage of process, capacity utilization for industries in the crude stage stepped down 1.0 percentage
point, to 85.6 percent. For industries in the primary and semifinished stages, the operating rate rose 0.2
percentage point, to 80.5 percent; for industries in the finished stage, utilization was unchanged at 77.9
percent.
Revision of Industrial Production and Capacity Utilization
The Federal Reserve Board plans to issue its annual revision to the index of industrial production
(IP) and the related measures of capacity and capacity utilization on November 7, 2005. The revised IP
indexes will incorporate data from the 2003 Annual Survey of Manufactures and from selected editions of the
2003 and 2004 Current Industrial Reports, all from the U.S. Census Bureau. Annual data from the U.S.
Geological Survey regarding metallic and nonmetallic minerals (except fuels) for 2003 and 2004 will also be
introduced. The updating will include revisions to the monthly indicator for each industry (either product
data or input data) and revisions to seasonal factors.
Capacity and capacity utilization will be revised to incorporate preliminary data from the Census
Bureau's 2004 Survey of Plant Capacity, which covers manufacturing, along with new data on capacity from
the U.S. Geological Survey, the Department of Energy, and other organizations.
Once published, the revision will be available on the Board's website at
www.federalreserve.gov/releases/G17. The revised data will also be available on the website of the
Department of Commerce. Further information on these revisions is available from the Board's Industrial
Output Section (telephone 202-452-3197).
G.17 Release Tables:
Ascii | Screen reader | Summary: Industrial Production and Capacity Utilization |
Chart | | Chart 1: Industrial Production, Capacity, and Capacity Utilization | Chart | | Chart 2: Industrial Production and Capacity Utilization | Chart | | Chart 3: Industrial Production and Capacity Utilization, High Technology Industries | Ascii | Screen reader | Table 1:Industrial Production: Market and Industry Groups (percent change) |
Ascii | Screen reader | Table 2:Industrial Production: Special Aggregates and Selected Detail (percent change) |
Ascii | Screen reader | Table 3: Motor Vehicle Assemblies |
Ascii | Screen reader | Table 4: Industrial Production Indexes: Market and Industry Group Summary |
Ascii | Screen reader | Table 5: Industrial Production Indexes: Special Aggregates |
Ascii | Screen reader | Table 6: Diffusion Indexes of Industrial Production |
Ascii | Screen reader | Table 7: Capacity Utilization: Manufacturing, Mining, and Utilities |
Ascii | Screen reader | Table 8: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change) |
Ascii | Screen reader | Table 9: Industrial Production: Gross Value of Products and Nonindustrial Supplies |
Ascii | Screen reader | Table 10: Gross-Value-Weighted Industrial Production: Stage-of-Process Groups |
Ascii | Screen reader | Table 11: Electric Power Use: Manufacturing and Mining |
Ascii | Screen reader | Table 12: Historical Statistics for IP, Capacity, and Utilization: Total Industry |
Ascii | Screen reader | Table 13: Historical Statistics for IP, Capacity, and Utilization: Manufacturing |
Ascii | Screen reader | Table 14: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries |
Ascii | Screen reader | Table 15: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries |
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)
Statistical releases