Board of Governors of the Federal Reserve System

Seasonally adjusted

Sector	Annualized Change		2012=100						Percent change
	2018 Q4	2019 Q1	2018 Dec.	2019					2018 Dec.	2019
				Jan.	Feb.	Mar.	Apr.	May		Jan.	Feb.	Mar.	Apr.	May
Total index
85th percentile	3.87	-1.75	110.55	110.15	109.59	109.81	109.51	109.99	.04	-.36	-.47	.29	-.10	.68
Current estimate	3.87	-2.18	110.55	110.09	109.47	109.60	109.17	109.56	.04	-.42	-.56	.12	-.39	.37
15th percentile	3.87	-2.63	110.55	110.03	109.36	109.41	108.89	109.13	.04	-.47	-.65	.01	-.64	.02
Manufacturing (SIC)
85th percentile	1.54	-1.71	106.41	105.84	105.27	105.34	104.87	105.23	.58	-.54	-.50	.11	-.32	.47
Current estimate	1.54	-2.19	106.41	105.77	105.14	105.15	104.62	104.82	.58	-.60	-.59	.00	-.50	.19
15th percentile	1.54	-2.64	106.41	105.71	105.01	104.94	104.31	104.32	.58	-.66	-.70	-.12	-.65	-.11
Mining
85th percentile	11.93	2.91	132.53	132.30	130.88	130.68	134.29	134.57	2.18	-.17	-.97	.14	3.08	1.00
Current estimate	11.93	1.82	132.53	132.14	130.48	130.01	132.80	132.87	2.18	-.30	-1.25	-.36	2.15	.05
15th percentile	11.93	.48	132.53	131.96	130.04	129.23	131.39	131.02	2.18	-.43	-1.55	-.76	1.42	-.84
Electric and gas utilities
85th percentile	9.02	-6.67	103.59	104.41	105.16	107.48	105.44	107.50	-6.82	.79	.73	2.46	-1.32	4.12
Current estimate	9.02	-8.04	103.59	104.40	105.10	106.83	103.47	105.65	-6.82	.78	.67	1.65	-3.14	2.11
15th percentile	9.02	-8.94	103.59	104.38	105.01	106.47	102.29	104.58	-6.82	.76	.56	1.26	-4.53	.34

The reliability measures show the likely range of values for the IP indexes after their fifth and final monthly revision. The 15th (85th) percentile estimate is equal to the current estimate plus an amount such that the equivalent measure revised by a lower (higher) amount for only 15 percent of the months since 2008. More information is available at www.federalreserve.gov/releases/g17/g17_technical_qa.htm.