INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
[2008 Revision Notice Below]
Industrial production declined 0.2 percent in May after having fallen 0.7 percent in April.
Manufacturing output was unchanged in May, the output of utilities shrank 1.8�percent, and the output at
mines rose 0.1�percent. Factory output was boosted by a small pickup in the index for motor vehicles and
parts. The end in late May of the strike at a parts producer had little effect on vehicle output for the
month; the output of motor vehicles and parts remained about 10�percent below its February level.
Excluding motor vehicles and parts, manufacturing production edged down 0.1 percent after having decreased
0.5�percent in April. At 110.9 percent of its 2002 average, overall industrial production was 0.1 percent
below its year-earlier level. The rate of capacity utilization for total industry declined 0.2 percentage
point, to 79.4 percent, a level 1.6�percentage points below its average for 1972-2007.
Industrial production |
2002=100 | Percent change | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2007 Dec.[r] |
2008 | 2007 Dec.[r] |
2008 | May '07 to May '08 |
|||||||||
Jan.[r] | Feb.[r] | Mar.[r] | Apr.[r] | May[p] | Jan.[r] | Feb.[r] | Mar.[r] | Apr.[r] | May[p] | ||||
Total index | 112.4 | 112.5 | 111.8 | 111.9 | 111.1 | 110.9 | .1 | .1 | -.6 | .1 | -.7 | -.2 | -.1 |
Previous estimates | 112.4 | 112.6 | 111.8 | 112.0 | 111.2 | .1 | .1 | -.7 | .2 | -.7 | |||
Major market groups | |||||||||||||
Final Products | 113.5 | 113.9 | 113.3 | 113.3 | 112.0 | 111.9 | .2 | .4 | -.6 | .0 | -1.1 | -.1 | -.5 |
Consumer goods | 107.4 | 108.0 | 107.2 | 107.0 | 105.8 | 105.6 | .0 | .5 | -.7 | -.2 | -1.1 | -.2 | -1.6 |
Business equipment | 131.2 | 131.5 | 131.3 | 132.2 | 130.0 | 130.0 | .7 | .3 | -.2 | .7 | -1.7 | .0 | 2.2 |
Nonindustrial supplies | 107.6 | 107.7 | 106.3 | 106.8 | 106.0 | 105.8 | -.3 | .1 | -1.2 | .4 | -.7 | -.2 | -1.9 |
Construction | 104.2 | 103.7 | 102.4 | 102.1 | 100.7 | 100.5 | -.3 | -.5 | -1.3 | -.3 | -1.4 | -.1 | -5.6 |
Materials | 113.1 | 112.9 | 112.3 | 112.5 | 112.0 | 111.8 | .1 | -.2 | -.5 | .2 | -.4 | -.2 | 1.0 |
Major industry groups | |||||||||||||
Manufacturing (see note below) | 113.8 | 113.8 | 113.0 | 113.3 | 112.3 | 112.3 | .0 | .0 | -.7 | .2 | -.9 | .0 | -.3 |
Previous estimates | 113.8 | 113.8 | 113.0 | 113.0 | 112.1 | .1 | .0 | -.7 | .0 | -.8 | |||
Mining | 103.9 | 103.3 | 103.6 | 103.2 | 102.7 | 102.8 | 1.0 | -.6 | .3 | -.3 | -.6 | .1 | 2.2 |
Utilities | 108.2 | 110.6 | 109.0 | 109.0 | 109.0 | 107.0 | -.7 | 2.1 | -1.4 | .0 | .0 | -1.8 | -.6 |
Capacity utilization |
Percent of capacity |
Capacity growth |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Average 1972- 2007 |
1988- 89 high |
1990- 91 low |
1994- 95 high |
2001- 02 low |
2007 May[p] |
||||||||
2007 Dec.[r] |
2008 | May '07 to May '08 |
|||||||||||
Jan.[r] | Feb.[r] | Mar.[r] | Apr.[r] | May[p] | |||||||||
Total industry | 81.0 | 85.0 | 78.6 | 85.1 | 73.6 | 80.9 | 81.0 | 81.0 | 80.3 | 80.3 | 79.6 | 79.4 | 1.8 |
Previous estimates | 81.0 | 81.0 | 80.3 | 80.4 | 79.7 | ||||||||
Manufacturing (see note below) | 79.7 | 85.4 | 77.1 | 84.6 | 71.5 | 79.4 | 79.2 | 79.1 | 78.4 | 78.5 | 77.7 | 77.5 | 2.0 |
Previous estimates | 79.2 | 79.1 | 78.4 | 78.3 | 77.5 | ||||||||
Mining | 87.5 | 86.3 | 83.6 | 88.7 | 84.8 | 88.7 | 91.2 | 90.4 | 90.5 | 90.1 | 89.6 | 89.6 | 1.1 |
Utilities | 86.8 | 92.7 | 84.1 | 93.9 | 84.6 | 86.0 | 85.5 | 87.5 | 85.8 | 85.6 | 85.4 | 83.7 | 2.1 |
Stage-of-process groups | |||||||||||||
Crude | 86.6 | 88.3 | 84.4 | 89.5 | 81.9 | 88.3 | 90.3 | 89.4 | 89.4 | 89.4 | 88.8 | 89.0 | .9 |
Primary and semifinished | 82.2 | 86.4 | 77.8 | 88.2 | 74.6 | 81.7 | 81.0 | 81.4 | 80.3 | 80.2 | 79.8 | 79.3 | 2.3 |
Finished | 77.7 | 82.8 | 77.1 | 80.4 | 69.9 | 77.3 | 77.6 | 77.5 | 77.0 | 77.1 | 76.0 | 75.9 | 1.9 |
Market Groups
The production of consumer goods decreased 0.2 percent in May. The output of consumer durables rose 0.6 percent but was more than offset by a decline of 1.3 percent in consumer energy products; the production of consumer non-energy nondurables was unchanged. The increase for durable consumer goods reflected gains in both automotive products and home electronics. The indexes for appliances, furniture, and carpeting and for miscellaneous goods both fell. Among consumer non-energy nondurables, increased output of chemical products and miscellaneous nondurables offset declines elsewhere.
The output of business equipment was unchanged in May. The index for transit equipment decreased 0.4 percent. Higher production of autos and light trucks was outweighed by lower production of medium and heavy trucks and truck trailers. Although the index for information processing equipment moved up further in May, the increase for this category was the smallest since January 2007. The output of industrial and other equipment was unchanged; decreases among many of the components in this category were offset by production increases for farm and construction machinery, which moved up slightly after having dropped substantially in April.
The production of defense and space equipment fell 0.5�percent in May and has fallen more than 1 percent so far this year. Among nonindustrial supplies, the output of business supplies decreased 0.3 percent, and the output of construction supplies edged down 0.1�percent and has fallen for 10 consecutive months.
Materials output declined 0.2 percent; durable and energy materials both posted losses, while the index for nondurable materials registered a modest gain. Within durables, the output of consumer parts fell 0.8 percent after having fallen about 2 percent in each of the previous two months; reductions in the output of motor vehicle parts have contributed in large measure to the weakness in this index in recent months. The production of equipment parts edged up, and the production of other durable materials moved down. Among nondurable materials, the indexes for both chemical and textile materials rose, while the index for paper materials decreased. The production of energy materials declined 0.7 percent.
Industry Groups
Manufacturing output was unchanged in May, and the factory operating rate moved down 0.2�percentage point, to 77.5 percent, a level 2.2 percentage points below its 1972-2007 average. The production indexes for both durable and nondurable manufacturing industries were also unchanged. In addition to the motor vehicles and parts industry, other durable manufacturing industries that registered increases included fabricated metal products; computer and electronic products; electrical equipment, appliances, and components; and miscellaneous manufacturing. Decreases were recorded in the indexes for wood products, nonmetallic mineral products, machinery, aerospace and miscellaneous transportation equipment, and furniture; for furniture, it was the ninth consecutive monthly decrease. Among nondurable manufacturing industries, reductions occurred in the indexes for food, apparel and leather, paper, and petroleum and coal products. The production declines in these industries were offset by higher output for textile and product mills, chemicals, and plastics and rubber products. The production of non-NAICS manufacturing (logging and publishing) fell for a second consecutive month and has fallen 4.7 percent over the past 12 months.
The output of utilities decreased 1.8 percent, and the operating rate in this industry moved down to 83.7 percent, a level 3.1 percentage points below its 1972-2007 average. Mining production increased 0.1 percent; higher output of coal and increased drilling activity boosted this index. The capacity utilization rate for mining was unchanged at 89.6 percent, a rate 2.1 percentage points above its long-run average.
Capacity utilization at industries grouped by stage of process changed as follows: For the crude
stage, utilization moved up 0.2 percentage point, to 89.0 percent, a rate 2.4�percentage points above its
1972-2007 average; for the primary and semifinished stages, utilization moved down 0.5 percentage point, to
79.3 percent, a rate 2.9�percentage points below its long-run average; and for the finished stage,
utilization decreased 0.1�percentage point, to 75.9 percent, a rate 1.8 percentage points below 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 |