Industrial Production and Capacity Utilization - G.17
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Industrial production was unchanged in January, as a gain of 0.7 percent in manufacturing was offset by declines in mining and utilities. Within manufacturing, the index for motor vehicles and parts jumped 6.8 percent and the index for other manufacturing industries increased 0.3 percent. The output of utilities fell 2.5 percent, as demand for heating was held down by temperatures that moved further above seasonal norms; the output of mines declined 1.8 percent. Total industrial production is now reported to have advanced 1.0 percent in December; the initial estimate had been an increase of 0.4 percent. This large upward revision reflected higher output for many manufacturing and mining industries. At 95.9 percent of its 2007 average, total industrial production in January was 3.4 percent above its level of a year earlier. The capacity utilization rate for total industry decreased to 78.5 percent, a rate 1.8 percentage points below its long-run (1972--2011) average.
Industrial Production and Capacity Utilization: Summary
Industrial production | 2007=100 | Percent change | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2011 | 2012 Jan.[p] |
2011 | 2012 Jan.[p] |
Jan. '11 to Jan. '12 |
|||||||||
Aug.[r] | Sept.[r] | Oct.[r] | Nov.[r] | Dec.[r] | Aug.[r] | Sept.[r] | Oct.[r] | Nov.[r] | Dec.[r] | ||||
Total index | 94.4 | 94.5 | 95.0 | 94.9 | 95.9 | 95.9 | .3 | .1 | .5 | .0 | 1.0 | .0 | 3.4 |
Previous estimates | 94.4 | 94.6 | 95.1 | 94.9 | 95.3 | .2 | .2 | .6 | -.3 | .4 | |||
Major market groups | |||||||||||||
Final Products | 96.1 | 96.2 | 96.7 | 96.4 | 97.2 | 97.7 | .6 | .0 | .5 | -.3 | .9 | .4 | 3.3 |
Consumer goods | 94.2 | 93.9 | 94.1 | 93.5 | 94.3 | 94.2 | .4 | -.2 | .2 | -.6 | .8 | -.1 | .6 |
Business equipment | 98.3 | 99.1 | 100.5 | 101.1 | 102.5 | 104.4 | 1.1 | .7 | 1.4 | .6 | 1.4 | 1.8 | 10.9 |
Nonindustrial supplies | 84.9 | 85.2 | 85.0 | 84.4 | 85.5 | 85.7 | .3 | .4 | -.3 | -.7 | 1.4 | .2 | 3.0 |
Construction | 77.0 | 77.1 | 76.8 | 76.9 | 79.2 | 78.9 | -.4 | .1 | -.4 | .2 | 3.0 | -.4 | 5.3 |
Materials | 96.1 | 96.3 | 96.9 | 97.3 | 98.2 | 97.8 | -.1 | .2 | .6 | .4 | 1.0 | -.4 | 3.5 |
Major industry groups | |||||||||||||
Manufacturing (see note below) | 90.7 | 91.1 | 91.6 | 91.4 | 92.8 | 93.5 | .3 | .4 | .5 | -.2 | 1.5 | .7 | 4.5 |
Previous estimates | 90.7 | 91.2 | 91.6 | 91.3 | 92.1 | .3 | .5 | .5 | -.4 | .9 | |||
Mining | 108.6 | 108.6 | 110.2 | 111.0 | 112.0 | 110.0 | 1.1 | .0 | 1.5 | .7 | .9 | -1.8 | 5.8 |
Utilities | 103.1 | 101.7 | 100.4 | 100.5 | 98.0 | 95.6 | -1.2 | -1.3 | -1.3 | .1 | -2.4 | -2.5 | -7.5 |
Capacity utilization | Percent of capacity | Capacity growth |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Average 1972- 2011 |
1988- 89 high |
1990- 91 low |
1994- 95 high |
2009 low |
2011 Jan. |
||||||||
2011 | 2012 Jan.[p] |
Jan. '11 to Jan. '12 |
|||||||||||
Aug.[r] | Sept.[r] | Oct.[r] | Nov.[r] | Dec.[r] | |||||||||
Total industry | 80.3 | 85.2 | 78.8 | 85.1 | 67.3 | 76.9 | 77.6 | 77.7 | 78.0 | 77.9 | 78.6 | 78.5 | 1.2 |
Previous estimates | 77.6 | 77.7 | 78.1 | 77.8 | 78.1 | ||||||||
Manufacturing (see note below) | 78.9 | 85.5 | 77.3 | 84.7 | 64.4 | 74.3 | 75.0 | 75.3 | 75.6 | 75.4 | 76.5 | 77.0 | 1.0 |
Previous estimates | 75.0 | 75.3 | 75.6 | 75.3 | 75.9 | ||||||||
Mining | 87.4 | 86.3 | 83.8 | 88.5 | 79.0 | 88.2 | 90.9 | 90.7 | 92.0 | 92.5 | 93.3 | 91.5 | 1.9 |
Utilities | 86.4 | 92.9 | 84.3 | 93.3 | 79.2 | 82.1 | 81.0 | 79.8 | 78.7 | 78.7 | 76.7 | 74.6 | 1.7 |
Stage-of-process groups | |||||||||||||
Crude | 86.4 | 87.7 | 84.3 | 89.6 | 77.6 | 87.2 | 88.6 | 89.0 | 90.0 | 90.3 | 90.9 | 89.9 | 1.3 |
Primary and semifinished | 81.1 | 86.5 | 77.9 | 87.9 | 64.9 | 74.3 | 74.8 | 74.8 | 74.5 | 74.6 | 75.3 | 74.9 | .3 |
Finished | 77.3 | 83.3 | 77.4 | 80.7 | 66.8 | 75.7 | 76.4 | 76.3 | 77.0 | 76.6 | 77.3 | 78.1 | 2.1 |
Market Groups
The production of consumer goods edged down 0.1 percent in January. The index for consumer durables increased 3.8 percent, but the index for consumer nondurables declined 1.2 percent. Among durables, the production of automotive products climbed 5.8 percent, and gains were also recorded for home electronics; appliances, furniture, and carpeting; and miscellaneous goods. Among consumer nondurables, the output of non-energy goods decreased 0.1 percent, as a decline in foods and tobacco offset gains in clothing, chemical products, and paper products. The output of consumer energy products fell 4.0 percent, with substantial decreases for both residential utilities and fuels.
The production of business equipment moved up 1.8 percent in January with appreciable increases in all of its major component indexes: Transit equipment advanced 2.5 percent, information processing equipment increased 1.8 percent, and industrial and other equipment gained 1.5 percent. The output of business equipment has risen in each of the past 9 months and in January stood nearly 11 percent above its level 12 months earlier.
The production of defense and space equipment increased 0.8 percent in January following a decline of 0.6 percent in December.
Among nonindustrial supplies, the output of construction supplies fell 0.4 percent in January following a gain of 3.0 percent in December. In January, the output of construction supplies was 5.3 percent above its level of a year earlier but remained well below its pre-recession peak. The production of business supplies increased 0.5 percent in January.
The production of materials moved down 0.4 percent in January after having risen 1.0 percent in December. A decrease of 1.7 percent for energy materials, which primarily reflected lower output by utilities and reductions in oil and natural gas extraction, more than accounted for the decline in overall materials. The index for durable materials advanced 0.8 percent because of increases in the production of consumer parts and equipment parts; the index for other durable materials decreased 0.3 percent. The production of nondurable materials edged up 0.1 percent; the output of both textile and paper materials increased, while the production of chemical materials declined.
Industry Groups
Manufacturing output rose 0.7 percent in January after having increased 1.5 percent in December; the level of output in January was 4.5 percent above its year-earlier level. Capacity utilization for manufacturing moved up 0.5 percentage point to 77.0 percent, a rate 1.9 percentage points below its long-run average.
The production of durable goods advanced 1.8 percent in January. The output of motor vehicles and parts surged 6.8 percent following an upwardly revised increase of 3.8 percent in December. In January, gains of more than 1.0 percent were recorded for fabricated metal products; machinery; computer and electronic products; electrical equipment, appliances, and components; furniture and related products; and miscellaneous manufacturing. The output of aerospace and miscellaneous transportation equipment edged up 0.1 percent, while production decreased for wood products, nonmetallic mineral products, and primary metals.
Nondurable manufacturing declined 0.2 percent in January after having advanced 1.5 percent in December. The decrease in production in January reflected drops in output for food, beverage, and tobacco products and for petroleum and coal products. The production indexes for apparel and leather products and for printing and support moved up more than 1 percent, while the indexes for textile and product mills, for paper, for chemicals, and for plastics and rubber products recorded smaller increases. The output of non-NAICS manufacturing industries (publishing and logging) decreased 0.1 percent.
In January, mining output fell 1.8 percent, its first decline since February 2011; capacity utilization decreased to 91.5 percent, a rate 4.1 percentage points above its long-run average. The output of utilities declined 2.5 percent after having fallen a similar amount in December. The operating rate for utilities dropped to 74.6 percent in January.
Capacity utilization rates in January at industries grouped by stage of process were as follows: At the crude stage, utilization fell 1.0 percentage point to 89.9 percent, a rate 3.5 percentage points above its long-run average; at the primary and semifinished stages, utilization decreased 0.4 percentage point to 74.9 percent, a rate 6.2 percentage points below its long-run average; and at the finished stage, utilization increased 0.8 percentage point to 78.1 percent, a rate 0.8 percentage point above its long-run average.