INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
[2008 Revision Notice Below]
Industrial production rose 0.3 percent in March after having dropped 0.7�percent in February. For the
first quarter as a whole, output declined at an annual rate of 0.1 percent after edging up at a rate of 0.4
percent in the fourth quarter of last year. Manufacturing production rose 0.1�percent in March. Factory
output was held down by a large decline in the output of motor vehicles and parts; a shortage of motor
vehicle parts that resulted from a strike at a parts manufacturer idled a number of motor vehicle assembly
plants. Outside of motor vehicles and parts, manufacturing production moved up 0.4 percent after having
fallen 0.5 percent in February. In March, the output of mines increased 0.9�percent, and the output of
utilities advanced 1.9 percent. At 112.1 percent of its 2002 average, total industrial production was
1.6�percent above its year-earlier level. The capacity utilization rate for total industry in March rose
0.2 percentage point, to 80.5 percent.
Industrial production |
2002=100 | Percent change | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2007 | 2008 | 2007 | 2008 | Mar. '07 to Mar. '08 |
|||||||||
Oct.[r] | Nov.[r] | Dec.[r] | Jan.[r] | Feb.[r] | Mar.[p] | Oct.[r] | Nov.[r] | Dec.[r] | Jan.[r] | Feb.[r] | Mar.[p] | ||
Total index | 111.8 | 112.3 | 112.4 | 112.6 | 111.8 | 112.1 | -.4 | .4 | .1 | .1 | -.7 | .3 | 1.6 |
Previous estimates | 111.8 | 112.3 | 112.4 | 112.5 | 111.9 | -.4 | .5 | .1 | .1 | -.5 | |||
Major market groups | |||||||||||||
Final Products | 113.0 | 113.2 | 113.5 | 114.1 | 113.2 | 113.4 | -.9 | .3 | .2 | .5 | -.7 | .2 | 1.3 |
Consumer goods | 107.3 | 107.4 | 107.4 | 108.1 | 107.1 | 107.0 | -1.0 | .1 | .0 | .7 | -.9 | .0 | .1 |
Business equipment | 129.9 | 130.3 | 131.2 | 131.6 | 131.6 | 132.4 | -.5 | .3 | .7 | .3 | .0 | .6 | 4.6 |
Nonindustrial supplies | 107.9 | 107.9 | 107.7 | 107.7 | 106.3 | 106.7 | -.5 | .1 | -.2 | .0 | -1.4 | .4 | -1.0 |
Construction | 105.4 | 104.7 | 104.6 | 104.1 | 102.7 | 102.5 | -1.1 | -.7 | .0 | -.6 | -1.3 | -.2 | -3.5 |
Materials | 112.2 | 113.0 | 113.2 | 112.9 | 112.3 | 112.8 | .1 | .7 | .2 | -.2 | -.5 | .5 | 2.7 |
Major industry groups | |||||||||||||
Manufacturing (see note below) | 113.5 | 113.7 | 113.8 | 113.9 | 113.3 | 113.4 | -.4 | .2 | .1 | .1 | -.5 | .1 | 1.2 |
Previous estimates | 113.4 | 113.7 | 113.8 | 113.8 | 113.5 | -.5 | .2 | .1 | .0 | -.3 | |||
Mining | 101.3 | 103.1 | 104.3 | 102.8 | 103.1 | 104.0 | -.1 | 1.8 | 1.2 | -1.4 | .3 | .9 | 3.2 |
Utilities | 108.4 | 109.1 | 108.2 | 110.9 | 106.9 | 108.9 | -.5 | .6 | -.7 | 2.4 | -3.6 | 1.9 | 2.3 |
Capacity utilization |
Percent of capacity |
Capacity growth |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Average 1972- 2007 |
1988- 89 high |
1990- 91 low |
1994- 95 high |
2001- 02 low |
2007 Mar.[p] |
||||||||
2007 | 2008 | Mar. '07 to Mar. '08 |
|||||||||||
Oct.[r] | Nov.[r] | Dec.[r] | Jan.[r] | Feb.[r] | Mar.[p] | ||||||||
Total industry | 81.0 | 85.0 | 78.6 | 85.1 | 73.6 | 80.7 | 80.8 | 81.1 | 81.0 | 81.0 | 80.3 | 80.5 | 1.9 |
Previous estimates | 80.8 | 81.1 | 81.0 | 81.0 | 80.4 | ||||||||
Manufacturing (see note below) | 79.7 | 85.4 | 77.1 | 84.6 | 71.5 | 79.2 | 79.2 | 79.3 | 79.2 | 79.2 | 78.6 | 78.5 | 2.1 |
Previous estimates | 79.2 | 79.3 | 79.2 | 79.1 | 78.7 | ||||||||
Mining | 87.5 | 86.3 | 83.6 | 88.7 | 84.8 | 89.2 | 88.7 | 90.6 | 91.2 | 89.9 | 90.1 | 90.8 | 1.3 |
Utilities | 86.8 | 92.7 | 84.1 | 93.9 | 84.6 | 85.2 | 86.0 | 86.3 | 85.5 | 87.4 | 84.1 | 85.5 | 1.8 |
Stage-of-process groups | |||||||||||||
Crude | 86.6 | 88.3 | 84.4 | 89.5 | 81.9 | 88.4 | 87.9 | 89.7 | 90.3 | 89.2 | 89.0 | 89.8 | 1.1 |
Primary and semifinished | 82.2 | 86.4 | 77.8 | 88.2 | 74.6 | 81.6 | 81.4 | 81.5 | 81.0 | 81.4 | 80.2 | 80.1 | 2.3 |
Finished | 77.7 | 82.8 | 77.1 | 80.4 | 69.9 | 76.9 | 77.6 | 77.5 | 77.6 | 77.6 | 77.2 | 77.4 | 1.8 |
Market Groups
The production of consumer goods was unchanged in March; a drop in the production of consumer durables offset an increase in consumer nondurables. For the first quarter, the output of consumer goods edged up at an annual rate of 0.2 percent after having fallen at a rate of 2.9 percent in the fourth quarter of last year. The decline in durable consumer goods in March principally reflected a strike-related drop in automotive products, though, in addition, the output of miscellaneous consumer durables slipped 0.4 percent. The drop in consumer durables was tempered by gains of more than 1 percent in the output of home electronics and of appliances, furniture, and carpeting. The output of non-energy nondurables rose 0.9 percent; gains in the production of foods and tobacco and of paper products outweighed a decline in clothing production, while the production of chemical products was unchanged. The output of consumer energy goods stepped down 0.4 percent.
The output of business equipment increased 0.6 percent in March and rose at an annual rate of 4.4 percent in the first quarter after having advanced at a rate of 1.9 percent in the fourth quarter. Increases in information processing equipment and in industrial and other equipment in March more than offset a decrease in transit equipment. The index for transit equipment fell 0.5 percent largely as a result of the vehicle parts strike. The index for civilian aircraft edged up.
The output of defense and space equipment increased 0.2 percent in March after having fallen 0.8 percent in February.
The output of construction supplies decreased 0.2 percent in March. Production of these goods fell at an annual rate of 6.8 percent in the first quarter after having dropped at a rate of 7.7 percent in the fourth quarter of last year. The output of business supplies rose 0.7 percent in March.
The production of materials advanced 0.5 percent in March and nearly reversed its February decline. For the first quarter, output edged down at an annual rate of 0.3 percent after having advanced at a rate of 3.0 percent in the fourth quarter of last year. Among non-energy materials, durable materials declined 0.3 percent in March. A gain in equipment parts was outweighed by a decrease in consumer parts, which largely reflected the lower output of motor vehicle parts, and by a decline in other durable materials. The output of nondurable materials moved up 0.6 percent; increases in paper and in chemical materials more than offset a decrease in textile materials. The production of energy materials climbed 1.3 percent.
Industry Groups
Manufacturing production edged up 0.1 percent in March after having dropped 0.5 percent in February. For the first quarter as a whole, manufacturing output decreased at an annual rate of 0.5 percent after having fallen at a similar pace in the fourth quarter. The factory operating rate edged down 0.1 percentage point in March, to 78.5�percent, a level 1.2�percentage points below its 1972-2007�average. The production of durable goods slipped 0.1 percent; excluding motor vehicles and parts, the output of durables advanced 0.7 percent, and gains were widespread across industries. Besides motor vehicles and parts, primary metals and machinery were the only other durable goods industries that posted declines. The production of nondurables edged up 0.2�percent. Advances in the output of food, beverage, and tobacco products; textile and product mills; paper; printing and support; and chemicals outweighed declines in apparel and leather, petroleum and coal products, and plastics and rubber products. The output of non-NAICS industries (publishing and logging) rose 0.7 percent.
The output of electric utilities increased 1.6 percent in March, and the output of natural gas utilities advanced 3.4 percent. The operating rate for utilities moved up 1.4�percentage points, to 85.5 percent, a level 1.3 percentage points below its 1972-2007 average. Mining production increased 0.9 percent; the capacity utilization rate for mining rose 0.7 percentage point, to 90.8 percent, a rate 3.3 percentage points above its long-run average.
Capacity utilization at industries grouped by stage of process changed as follows: For the crude stage, utilization rose 0.8 percentage point, to 89.8 percent, a rate 3.2 percentage points above its 1972-2007 average; for the primary and semifinished stages, utilization edged down 0.1�percentage point, to 80.1 percent, a rate 2.1 percentage points below its long-run average; and for the finished stage, utilization moved up 0.2�percentage point, to 77.4 percent, about the same as its long-run average.
Notice
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: Historical Statistics for IP, Capacity, and Utilization: Total Industry |
Ascii | Screen reader | Table 12: Historical Statistics for IP, Capacity, and Utilization: Manufacturing |
Ascii | Screen reader | Table 13: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries |
Ascii | Screen reader | Table 14: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries |