Industrial Production and Capacity Utilization - G.17
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Industrial production increased 0.3 percent in September and advanced at an annual rate of 2.5 percent in the third quarter. Manufacturing output rose 0.4 percent in September, the index for mining moved up 0.4 percent, and the index for utilities decreased 0.3 percent. At 103.6 percent of its 2017 average, total industrial production in September was 0.1 percent above its year-earlier level. Capacity utilization moved up 0.2 percentage point to 79.7 percent in September, a rate that is equal to its long-run (1972–2022) average.
Industrial Production and Capacity Utilization: Summary
Industrial production | 2017=100 | Percent change | |||||||||||
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2023 | 2023 | Sept. '22 to Sept. '23 |
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Apr.[r] | May[r] | June[r] | July[r] | Aug.[r] | Sept.[p] | Apr.[r] | May[r] | June[r] | July[r] | Aug.[r] | Sept.[p] | ||
Total index | 103.2 | 102.8 | 102.3 | 103.3 | 103.3 | 103.6 | .5 | -.3 | -.5 | 1.0 | .0 | .3 | .1 |
Previous estimates | 103.1 | 102.8 | 102.4 | 103.1 | 103.5 | .5 | -.3 | -.4 | .7 | .4 | |||
Major market groups | |||||||||||||
Final Products | 102.5 | 101.9 | 100.9 | 102.0 | 102.0 | 102.1 | 1.2 | -.5 | -1.1 | 1.2 | .0 | .1 | -.1 |
Consumer goods | 103.7 | 103.0 | 101.4 | 102.7 | 102.6 | 102.8 | 1.2 | -.7 | -1.5 | 1.3 | -.1 | .3 | .1 |
Business equipment | 96.6 | 96.3 | 96.2 | 97.0 | 97.2 | 96.5 | 1.3 | -.4 | -.1 | .9 | .1 | -.7 | -1.7 |
Nonindustrial supplies | 100.2 | 100.0 | 99.8 | 100.1 | 100.3 | 100.7 | -.4 | -.2 | -.2 | .3 | .1 | .4 | -1.7 |
Construction | 101.8 | 101.7 | 101.3 | 101.3 | 100.8 | 101.8 | .8 | -.1 | -.5 | .0 | -.5 | 1.0 | -2.0 |
Materials | 104.7 | 104.6 | 104.4 | 105.5 | 105.5 | 105.9 | .2 | -.1 | -.2 | 1.0 | .0 | .4 | .9 |
Major industry groups | |||||||||||||
Manufacturing (see note below) | 99.9 | 99.7 | 99.1 | 99.5 | 99.4 | 99.8 | .9 | -.2 | -.6 | .4 | -.1 | .4 | -.8 |
Previous estimates | 99.9 | 99.7 | 99.2 | 99.6 | 99.7 | .8 | -.2 | -.4 | .4 | .1 | |||
Mining | 118.7 | 118.4 | 119.1 | 120.4 | 120.6 | 121.2 | .6 | -.3 | .6 | 1.1 | .2 | .4 | 3.4 |
Utilities | 104.3 | 103.6 | 101.9 | 106.6 | 107.4 | 107.0 | -2.3 | -.6 | -1.7 | 4.7 | .7 | -.3 | 2.0 |
Capacity utilization | Percent of capacity | Capacity growth |
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---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Average 1972- 2022 |
1988- 89 high |
1990- 91 low |
1994- 95 high |
2009 low |
2022 Sept. |
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2023 | Sept. '22 to Sept. '23 |
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Apr.[r] | May[r] | June[r] | July[r] | Aug.[r] | Sept.[p] | ||||||||
Total industry | 79.7 | 85.2 | 78.8 | 85.0 | 66.6 | 80.8 | 79.8 | 79.5 | 78.9 | 79.6 | 79.5 | 79.7 | 1.5 |
Previous estimates | 79.8 | 79.4 | 79.0 | 79.5 | 79.7 | ||||||||
Manufacturing (see note below) | 78.2 | 85.6 | 77.3 | 84.6 | 63.4 | 79.5 | 78.4 | 78.1 | 77.6 | 77.8 | 77.7 | 77.8 | 1.3 |
Previous estimates | 78.4 | 78.1 | 77.7 | 77.9 | 77.9 | ||||||||
Mining | 86.4 | 86.3 | 84.3 | 88.6 | 78.9 | 92.1 | 92.8 | 92.6 | 93.2 | 94.4 | 94.6 | 95.1 | .1 |
Utilities | 84.7 | 93.2 | 84.7 | 93.2 | 78.1 | 73.7 | 71.8 | 71.2 | 69.8 | 72.8 | 73.1 | 72.7 | 3.5 |
Stage-of-process groups | |||||||||||||
Crude | 85.6 | 87.9 | 84.8 | 90.0 | 76.9 | 90.2 | 90.3 | 89.8 | 90.3 | 91.3 | 91.6 | 91.8 | .0 |
Primary and semifinished | 80.2 | 86.5 | 78.0 | 87.8 | 63.6 | 79.0 | 77.1 | 76.9 | 76.3 | 77.1 | 77.0 | 77.2 | 1.5 |
Finished | 76.7 | 83.4 | 77.5 | 80.7 | 66.3 | 77.9 | 77.6 | 77.2 | 76.3 | 76.8 | 76.6 | 76.6 | 2.1 |
Market Groups
Most major market groups recorded gains in September. The index for consumer durables rose 1.2 percent amid widespread increases in its components. On the other hand, the index for consumer nondurable goods was unchanged, as a gain in chemical products was offset by a decline in energy nondurable goods. The production of business equipment fell 0.7 percent, while the index for defense and space equipment recorded its fifth consecutive monthly gain of at least 1 percent. Within materials, the index for non-energy durables rose 0.8 percent, and the index for non-energy nondurables increased 0.5 percent.
Industry Groups
Manufacturing output rose 0.4 percent in September but was 0.8 percent below its year-earlier level. In the third quarter, factory output moved sideways, as a gain of 2.3 percent (annual rate) in the index for durable manufacturing was offset by a decline of 2.4 percent (annual rate) in the index for nondurable manufacturing.
In September, the index for motor vehicles and parts moved up only 0.3 percent, as motor vehicle assemblies were held down by the ongoing strike against three automakers. Elsewhere in manufacturing, gains of 1 percent or more were recorded by wood products, primary metals, and plastics and rubber products, and declines of 1 percent or more were recorded by apparel and leather as well as printing and support. Other manufacturing (publishing and logging) edged down 0.2 percent but posted a gain of 4.8 percent for the third quarter as a whole.
Mining output moved up 0.4 percent in September for a fourth consecutive monthly gain. For the third quarter, the output of mines advanced at an annual rate of 6.9 percent. The index for utilities dropped 0.3 percent in September but saw a third-quarter gain of 15.2 percent (annual rate).
Capacity utilization for manufacturing edged up 0.1 percentage point to 77.8 percent in September, a rate that is 0.4 percentage point below its long-run (1972–2022) average. The operating rate for mining increased 0.5 percentage point to 95.1 percent, a rate that is 8.7 percentage points above its long-run average. The operating rate for utilities decreased 0.4 percentage point to 72.7 percent, well below its long-run average.
Note. The statistics in this release cover output, capacity, and capacity utilization in the U.S. industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the North American Industry Classification System (NAICS); electric and gas utilities are those in NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33) plus the logging industry and the newspaper, periodical, book, and directory publishing industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and information, respectively), but historically they were considered to be manufacturing and were included in the industrial sector under the Standard Industrial Classification (SIC) system. In December 2002 the Federal Reserve reclassified all its industrial output data from the SIC system to NAICS.G.17 Release Tables:
- Summary: Industrial Production and Capacity Utilization
- Chart 1: Industrial Production, Capacity, and Capacity Utilization
- Chart 2: Industrial Production and Capacity Utilization
- Chart 3: Industrial Production of Selected Industries
- Table 1: Industrial Production: Market and Industry Groups (percent change)
- Table 2: Industrial Production: Special Aggregates and Selected Detail (percent change)
- Table 3: Motor Vehicle Assemblies
- Table 4: Industrial Production Indexes: Market and Industry Group Summary
- Table 5: Industrial Production Indexes: Special Aggregates
- Table 6: Diffusion Indexes of Industrial Production
- Table 7: Capacity Utilization: Manufacturing, Mining, and Utilities
- Table 8: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change)
- Table 9: Industrial Production: Gross Value of Products and Nonindustrial Supplies
- Table 10: Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
- Table 11: Historical Statistics for IP, Capacity, and Utilization: Total Industry
- Table 12: Historical Statistics for IP, Capacity, and Utilization: Manufacturing
- Table 13: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries
- Table 14: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries
- Table 15: Industrial Production: Reliability Estimates