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Release Date: February 14, 2025

Industrial production (IP) increased 0.5 percent in January after moving up 1.0 percent in December. In January, gains in the output of aircraft and parts contributed 0.2 percentage point to total IP growth following the earlier resolution of a work stoppage at a major aircraft manufacturer. Manufacturing output declined 0.1 percent in January, held down by a 5.2 percent decrease in the index for motor vehicles and parts. The index for mining fell 1.2 percent, while the index for utilities jumped 7.2 percent, as cold temperatures boosted the demand for heating. At 103.5 percent of its 2017 average, total IP in January was 2.0 percent above its year-earlier level. Capacity utilization stepped up to 77.8 percent, a rate that is 1.8 percentage points below its long-run (1972–2024) average.

Industrial Production and Capacity Utilization: Summary
Seasonally adjusted Make Full Screen
Industrial production 2017=100 Percent change
2024 2025
Jan.[p]
2024 2025
Jan.[p]
Jan. '24 to
Jan. '25
Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[r]
       
Total index 103.0 102.6 102.1 102.0 103.0 103.5 .5 -.4 -.5 -.1 1.0 .5 2.0
Previous estimates 103.0 102.6 102.1 102.3 103.2   .5 -.4 -.5 .2 .9    
       
Major market groups
Final Products 101.0 100.1 99.0 99.0 99.7 100.7 .7 -.9 -1.1 .0 .7 1.1 .7
Consumer goods 102.3 102.1 101.4 101.0 101.3 102.2 .9 -.2 -.6 -.4 .3 .8 .9
Business equipment 93.9 90.8 88.0 89.5 91.1 93.0 .0 -3.3 -3.1 1.7 1.8 2.1 -.5
Nonindustrial supplies 101.0 101.2 101.4 101.0 101.9 102.2 -.2 .2 .2 -.4 .9 .3 2.7
Construction 100.5 100.2 100.3 100.3 102.1 101.8 .3 -.3 .2 .0 1.8 -.2 3.1
Materials 105.4 105.2 105.0 104.9 106.2 106.3 .5 -.2 -.1 -.2 1.3 .1 2.9
       
Major industry groups
Manufacturing (see note below) 99.3 99.0 98.4 98.6 99.1 99.0 .6 -.3 -.7 .2 .5 -.1 1.0
Previous estimates 99.3 99.0 98.3 98.7 99.3   .6 -.3 -.7 .4 .6    
Mining 120.1 119.2 119.1 118.2 120.6 119.2 1.3 -.8 -.1 -.7 2.0 -1.2 3.4
Utilities 106.3 105.6 106.1 104.1 107.2 114.9 -1.1 -.6 .4 -1.8 2.9 7.2 6.9

Make Full Screen
Capacity utilization Percent of capacity Capacity
growth
Average
1972-
2024
1988-
89
high
1990-
91
low
1994-
95
high
 
2009
low
 
2024
Jan.
   
2024 2025
Jan.[p]
Jan. '24 to
Jan. '25
Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[r]
       
Total industry 79.6 85.2 78.7 84.8 66.6 77.2 77.9 77.5 77.0 76.8 77.5 77.8 1.2
Previous estimates             77.9 77.5 77.0 77.0 77.6    
       
Manufacturing (see note below) 78.2 85.5 77.1 84.4 63.5 76.5 77.0 76.6 76.1 76.1 76.4 76.3 1.3
Previous estimates             77.0 76.6 76.0 76.2 76.6    
Mining 86.5 86.3 84.3 88.6 78.9 85.9 90.1 89.4 89.4 88.8 90.6 89.5 -.7
Utilities 84.2 93.2 84.7 93.2 78.1 73.4 71.1 70.5 70.5 69.0 70.8 75.7 3.6
       
Stage-of-process groups
Crude 85.6 87.9 84.9 90.0 77.0 83.9 87.5 87.3 87.4 87.0 88.4 87.7 -.4
Primary and semifinished 80.1 86.5 77.6 87.5 63.7 76.5 76.4 76.1 76.1 75.5 76.2 77.0 1.6
Finished 76.7 83.3 77.6 80.4 66.2 75.3 75.5 74.9 73.6 74.0 74.2 74.4 1.8
[r] Revised. [p] Preliminary.

Market Groups

The majority of market groups posted gains in January. The output of consumer goods increased 0.8 percent, as a rise in the production of nondurable consumer goods outweighed a decline in the production of durable consumer goods. The increase in nondurables was supported by gains in the indexes for energy and chemical products. The index for business equipment grew 2.1 percent, reflecting a strong increase in the production of civilian aircraft. Construction supplies posted a decline of 0.2 percent, and business supplies posted a gain of 0.6 percent. The index for materials rose 0.1 percent, with declines in several non-energy categories offset by gains in energy materials.

Industry Groups

Manufacturing output fell 0.1 percent in January. The durable manufacturing index remained unchanged from December, with large increases in aerospace and miscellaneous transportation equipment offsetting declines in motor vehicles and parts. The nondurable manufacturing index decreased 0.3 percent in January, with decreases in four categories (food, beverage, and tobacco products; printing and support; petroleum and coal products; and plastics and rubber products). The index for other manufacturing (publishing and logging) rose 0.3 percent.

Mining output fell 1.2 percent in January after moving up 2.0 percent in December. In January, the output of utilities jumped 7.2 percent as the output for electric and natural gas utilities increased 6.1 percent and 15.4 percent, respectively.

Capacity utilization for manufacturing decreased 0.1 percentage point in January to 76.3 percent, a rate that is 1.9 percentage points below its long-run (1972–2024) average. The operating rate for mining decreased 1.1 percentage points to 89.5 percent, and the operating rate for utilities moved up 4.9 percentage points to 75.7 percent. The rate for mining was 3.0 percentage points above its long-run average, while the rate for utilities remained well below its long-run average.

Note: Preliminary Estimates of Industrial Capacity

The data in this release include preliminary estimates of industrial capacity for 2025 (table 8). Measured from Q4 to Q4, total industrial capacity is projected to rise 1.5 percent this year after increasing 1.2 percent in 2024. Manufacturing capacity is expected to move up 1.2 percent in 2025 after increasing 1.3 percent in 2024. Capacity in the mining sector is estimated to increase 0.9 percent in 2025 after declining 0.8 percent in 2024. Capacity at electric and natural gas utilities is projected to rise 3.7 percent in 2025 after expanding 3.6 percent in 2024.

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.

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Last Update: February 14, 2025