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INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
Industrial production rose 0.8 percent in June, its sixth consecutive monthly increase; production for the second quarter was up at an annual rate of 4.6 percent. In June, at 140.6 percent of its 1992 average, industrial production reached its highest level since May 2001 but was 4.5 percent below its June 2000 peak. Manufacturing output also posted its sixth consecutive monthly increase, rising 0.7 percent in June. Output at mines expanded 1.1 percent, and production at utilities increased 1.6 percent. The rate of capacity utilization for total industry rose to 76.1 percent, a rate 1.7 percentage points above its trough in December 2001.
INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY Seasonally adjusted ----------------------------------------------------------------------------------------------------------------------------------- | 1992=100 | Percent change | ----------------------------------------------- | ------------------------------------------------- | 2002 | 2002 | June '01 to Industrial production | Mar. Apr. May June | Mar. Apr. May June | June '02 ----------------------------------------------------------------------------------------------------------------------------------- | | | Total index | 138.6 138.9 139.5 140.6 | .3 .2 .4 .8 | .2 Previous estimates | 138.7 139.1 139.3 | .4 .3 .2 | | | | Major market groups: | | | Products, total | 127.4 127.0 127.2 128.1 | .4 -.3 .1 .7 | -1.5 Consumer goods | 121.7 121.3 121.4 122.4 | .4 -.3 .1 .8 | 1.0 Business equipment | 163.5 163.1 163.3 163.7 | -.3 -.3 .1 .2 | -7.9 Construction supplies | 139.7 139.0 139.1 139.6 | 2.2 -.5 .1 .3 | 1.2 Materials | 157.4 159.1 160.5 162.0 | .2 1.1 .9 .9 | 2.9 | | | Major industry groups: | | | Manufacturing | 143.4 143.5 144.3 145.4 | .4 .1 .5 .7 | .3 Durable | 176.6 177.4 178.7 180.1 | .3 .5 .7 .8 | .0 Nondurable | 110.9 110.6 111.0 111.7 | .4 -.3 .4 .6 | .6 Mining | 95.4 96.2 96.3 97.3 | -1.3 .8 .1 1.1 | -5.1 Utilities | 121.8 122.8 121.7 123.7 | 1.3 .8 -.9 1.6 | 3.8 ----------------------------------------------------------------------------------------------------------------------------------- | | Capacity | Percent of capacity | growth | --------------------------------------------------------------------------------- | --------------- | Average 1982 1988-89 2001 | 2002 | June '01 to Capacity utilization | 1967-2001 Low High June | Mar. Apr. May June | June '02 ----------------------------------------------------------------------------------------------------------------------------------- | | | Total industry | 81.9 71.1 85.4 76.7 | 75.2 75.3 75.6 76.1 | 1.0 Previous estimates | | 75.3 75.4 75.5 | | | | Manufacturing | 80.9 69.0 85.7 75.0 | 73.7 73.7 74.0 74.5 | .9 Advanced processing | 80.3 71.0 84.2 75.0 | 72.8 72.5 72.6 73.0 | .6 Primary processing | 82.0 65.7 88.3 74.9 | 75.1 75.5 76.3 76.8 | 1.5 Mining | 87.6 80.3 88.0 91.4 | 84.5 85.2 85.3 86.2 | .7 Utilities | 87.6 75.9 92.6 87.0 | 85.8 86.2 85.1 86.2 | 4.8 ----------------------------------------------------------------------------------------------------------------------------------- Note: Estimates for June are preliminary. Estimates from March to May are revised.
Market Groups
The output of consumer goods advanced 0.8 percent in June with widespread increases among both durable and nondurable goods. The production of durables rose 1.1 percent, to its highest level since September 2000, while the output of nondurables gained 0.7 percent. A sharp increase in motor vehicle assemblies contributed significantly to the rise in the output of durables. However, the overall rise for consumer durables was tempered by a decline in output at appliance manufacturers. The appliance, furniture, and carpeting group fell 2.9 percent after having risen at about that rate in May. Among nondurables, non-energy production expanded 0.8 percent and was led by gains in the indexes for paper products and for food and tobacco. Among energy products, strong electricity sales were offset by declines elsewhere.
The output of business equipment inched up in both May and June but remained below the level at the beginning of the year. The output of information processing equipment strengthened in both months and reached its highest level since July 2001. Despite strength in the assembly of automobiles and light trucks, the output of transit equipment continued its downward trend and fell to its lowest level since November 1996. During the past year, the principal contributor to the weakness in this group has been commercial aircraft. Industrial and other equipment also declined a bit in June after having risen nearly 2 percent in May. The output of defense and space equipment posted its fourth consecutive monthly increase and reached its highest level since July 2000.
The production of construction supplies rose 0.3 percent in June to end the quarter 4.2 percent above its November 2001 low. The index for business supplies jumped 1.2 percent, but it has risen only about 2 percent since the start of the year after having fallen about 7 percent during 2001.
Materials production, continuing its recent strength, increased 0.9 percent in June. The index now stands at its highest level since February 2001. Durable materials posted a gain of 1.2 percent with all major categories contributing similarly to the rise in output. An increase of 0.2 percent for nondurable materials output reflected increases in the production of chemicals and textiles that were mostly offset by a decline in paper production. The index for energy materials increased 0.9 percent with gains in both converted fuels and primary energy.
Industry Groups
Manufacturing output rose 0.7 percent in June. Production advanced for all major groups of durable goods except furniture and fixtures and aerospace and miscellaneous transportation equipment. The largest gains were in motor vehicles and parts, miscellaneous manufactures, instruments, and primary metals; fabricated metal products and industrial machinery also posted increases. The durables index has risen 3.4 percent since its December 2001 low. Among producers of nondurables, the primary contributors to the June increase were food and tobacco products, printing and publishing, and rubber and plastics. Only the output of petroleum products declined.
The factory operating rate increased 0.5 percentage point in June, to 74.5 percent, but it remained more than 6 percentage points below its 1967-2001 average. The utilization rate for advanced-processing industries rose to 73.0 percent, while the rate for primary-processing industries rose to 76.8 percent. The utilization rate for the selected high-technology industries edged up, to 65.9 percent, a rate still well below the low of 72.4 percent reached in 1991 but more than 5 percentage points above the recent low in December 2001. The operating rates for utilities and for mining both increased to 86.2 percent.
Revision of Industrial Production and Capacity Utilization
Ascii | Screen reader | Summary: Industrial Production and Capacity Utilization |
Chart | Chart 1: Industrial Production and Capacity Utilization | |
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: Capacity Utilization: Manufacturing, Mining, and Utilities |
Ascii | Screen reader | Table 7: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change) |
Ascii | Screen reader | Table 8: Industrial Production: Gross Value of Products |
Ascii | Screen reader | Table 9: Diffusion Indexes of Industrial Production |
Ascii | Screen reader | Table 10: Electric Power Use: Manufacturing and Mining |
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 |
Current Monthly Release | | | ASCII | | | PDF (144 KB) |
Supplemental Monthly Release | | | ASCII | | | PDF (144 KB) |
Annual Revision Release | | | ASCII | | | PDF (150 KB) |
Release dates | | | Historical data | | | Documentation |