FEDERAL RESERVE STATISTICAL RELEASE                                 
 
 G.17 (419) 2022 Historical and Annual Revision                      For release at 12:00 noon (EDT)
                                                                     June 28, 2022

 Industrial Production and Capacity Utilization: The 2022 Annual Revision

 
      The Federal Reserve has revised its index of industrial production (IP) and the related measures of
 capacity and capacity utilization.<1>  On net, revisions to the growth rates for total IP for recent years
 were very small.  In contrast, the utilization rates for total industry are now reported to be appreciably
 higher in recent years.
 
      Detailed data for manufacturing from the U.S. Census Bureau's 2020 Annual Survey of Manufactures
 (ASM) were incorporated in this revision.  The aggregate effect on IP of those data was minimal, as the
 rates of change for total IP have revised no more than 0.2 percentage point in any year.<2>  The contour
 of the pandemic period was little changed from the previously reported estimates, and total IP in May 2022
 was 3-1/2 percent above its pre-pandemic (February 2020) level, about 1 percentage point less than
 reported previously.
 
      In the fourth quarter of 2021, capacity utilization for total industry stood at 78.8 percent, about
 2-1/2 percentage points above its previous estimate and about 1 percentage point below its long-run
 (1972-2020) average.  A portion of this upward revision reflects higher industry-level utilization rates
 resulting from downward revisions to industry-level capacity.  Another portion, however, results from
 revisions to industry weights that increased the importance of some industries with generally higher
 utilization rates, in particular the oil and gas sector.  The utilization rates for 2018 to 2020 are about
 1 percentage point higher than the previous estimates, on average, and revisions to utilization rates for
 earlier years are very small.
 
      Annual capacity growth is revised down, 1-1/2 percentage points in 2021 and about 1/2 percentage
 point, on average, from 2018 to 2020.  Capacity for total industry at the end of 2021 is now estimated to
 be about 3/4 percent lower than at the end of 2017; previously, it was estimated to have increased about
 2-1/4 percent over this period.
 
      This revision incorporated newly available annual data on both output and prices.  As noted
 earlier, the updated IP indexes incorporated new data for manufacturing from the U.S. Census Bureau's 2020
 ASM.  For publishing, the IP indexes folded in data for 2020 from the Census Bureau's Service Annual
 Survey.  The IP index for logging is based on special calculations provided by the U.S. Forest Service
 that extended previously published data; the IP index incorporated new data for 2020 and revised data for
 2019.  In addition, the indexes for metallic and nonmetallic minerals were updated with revised annual
 data for 2019 and with new data for 2020 from the U.S. Geological Survey (USGS).  Data on prices from the
 Bureau of Labor Statistics (BLS) were also incorporated into most of the manufacturing indexes.
 
      The monthly estimates of production have been updated to include late-arriving or revised quarterly
 or monthly indicator data, including information from the BLS's benchmark revisions to the Current
 Employment Statistics.  The monthly IP estimates also reflect updated seasonal factors.
 
       The revised estimates of capacity and capacity utilization incorporated data from the Census
 Bureau's Quarterly Survey of Plant Capacity Utilization (QSPC) for the fourth quarters of 2020 and 2021
 along with new data on capacity from the USGS, the Energy Information Administration, and other
 organizations.  The revised capacity  estimates also included new data on capital spending from the 2020
 ASM.
 
 RESULTS OF THE REVISION
 
 Industrial Production
 
       Manufacturing output is now estimated to have fallen about 2-1/2 percent in both 2019 and 2020
 before moving up about 4-1/4 percent in 2021; these rates of change are identical to the estimates
 published previously.  Manufacturing output is now estimated to have dropped about 18-1/2 percent between
 February 2020 and April 2020 because of the pandemic, only slightly less than was originally reported.
 Factory output has moved up robustly since then, and the index for May 2022 is currently reported to be
 3-1/2  percent above its pre-pandemic level, about 1 percentage point less of a gain than the pre-revision
 estimate.
 
      The revised contour for mining output shows a modest increase in 2019, a sharp drop in 2020, and a
 substantial rebound thereafter.  The rates of change are broadly similar to those published previously,
 although the gains in 2019 and 2021 are now each about 1 percentage point stronger, and the decline in
 2020 is about 1-1/2 percentage points steeper.  The index for mining currently stands about 4 percent
 below its pre-pandemic level; before the revision, the index was 2 percent below its pre-pandemic level.
 The rates of change for utilities output are moderately higher in 2020 and little different in other
 recent years.
 
 Production by Industry Group
 
      The output of durables decreased sharply in 2019 and 2020 before increasing rapidly in 2021.
 Relative to the previous estimates, the declines in 2019 and 2020 are somewhat steeper, and the gain in
 2021 is modestly larger.  The cumulative downward revision to output growth for durables from 2019 through
 2021 was about 1-1/4 percentage points.
 
      The index for nondurables now shows smaller declines in 2019 and 2020 and a slightly smaller gain
 in 2021 than reported previously.  Within nondurables, the revisions to the rates of change were primarily
 upward, but the estimates for petroleum and coal products were revised downward appreciably.  The
 cumulative upward revision to output growth from 2019 through 2021 was about 3/4 percentage point.
 
      The output index for industries in scope for manufacturing IP that are not part of manufacturing
 under the North American Industry Classificiation System (NAICS)--that is, logging and publishing--has
 been recording declines for several years, and it continued to fall each year in the 2019-21 period.
 However, the declines in 2019 and 2020 are now reported to have been noticeably smaller than previously
 published.
 
 Production by Market Group
 
      The index for consumer goods now shows notably more output in the 2019-21 period than previously
 reported; in particular, it is now estimated to have increased 1 percent in 2020, whereas it was
 previously reported to have declined 3/4 percent.  The rate of change for business equipment revised down
 noticeably in 2019, is somewhat stronger in 2020, and revised up in 2021.  Relative to earlier reports,
 the index for defense and space equipment now increases more in 2019, records a decline rather than a gain
 in 2020, and increases less in 2021.
 
      Revisions to the index for construction supplies were modest with the exception of a larger decline
 in 2020 and a larger subsequent increase in 2021.  The index for business supplies revised up, on balance,
 for recent years relative to earlier reports.  The output of materials decreased more in 2020 than was
 previously reported, and the rates of change were modestly stronger in other recent years.
 
 Capacity Utilization
 
      Capacity utilization for total industry decreased in 2019 and 2020 and moved up in 2021 and early
 2022; the reading in May 2022 was 80.8 percent, about 1 percentage point above its 1972-2021 average.<3>
 Earlier estimates displayed a similar contour, but now the declines in 2019 and 2020 are a bit smaller,
 and the increase in 2021 is substantially larger.  Both manufacturing and mining contributed to the
 declines in the overall operating rate in 2019 and 2020 and its rise in 2021 and early 2022; the latter
 reflected a particularly large advance in the operating rate at mines.  Compared with earlier estimates,
 capacity utilization for total industry is now reported to have been about 2-1/2 percentage points higher
 in 2021 and roughly 1 percentage point higher in 2019 and 2020.
 
      Utilization at manufacturers moved down 3 percentage points from 2018 to 2020 before rebounding in
 2021 to above its 2018 level.  The factory operating rate in May 2022 was 80.3 percent, about 2 percentage
 points above its long-run average.  The current readings for manufacturing utilization are higher than the
 previous estimates for 2018 through 2021; the estimate at the end of 2021 was revised up about 1-1/2
 percentage points.  Upward revisions to utilization rates were widespread among manufacturing.
 
      The capacity utilization rate for mining moved down 19 percentage points from 2018 to 2020 before
 rebounding in 2021 to 85.8 percent, just below its long-run average.  Relative to its previously published
 rate, utilization at mines for the fourth quarter of 2021 is about 8-1/2 percentage points higher.  The
 operating rate for utilities declined roughly 6 percentage points from 2018 to 2021 to 74.3 percent (using
 annual average rates), 10-1/2 percentage points below its long-run average.
 
 Capacity
 
      Total industrial capacity moved down 3/4 percent and 1 percent in 2020 and 2021, respectively, with
 declines in capacity for manufacturing and mining partly offset by rising capacity for utilities.  In
 contrast, overall capacity is expected to rise about 1-1/2 percent in 2022.  The overall decline in 2020
 and 2021 is significantly larger than published earlier.  Notably, capacity is now reported to have fallen
 from 2019 to 2021, whereas it was previously reported to have increased slightly.
 
      Manufacturing capacity is now reported to have contracted 0.6 percent per year, on average, from
 2018 to 2021.  The new contour displays larger and more consistent declines than the path previously
 reported, which showed declines averaging 0.1 percent over the 2018-21 period.  Downward revisions to
 capacity growth were widespread across manufacturing industries and were particularly pronounced for
 nondurable manufacturing industries.  New data for 2021 from the QSPC contributed to the downward revision
 to capacity growth.
 
      Capacity at mines rose in 2018 and 2019 and then moved down through 2021, returning to roughly its
 2017 level.  The decrease in 2021 was led by a decline in capacity for mining support activities.
 Relative to earlier reports, the overall growth in mining capacity in 2018 and 2019 was larger, as was the
 subsequent decline.  Capacity for electric and gas utilities rose from 2018 to 2021, with particularly
 large increases in 2020 and 2021.  The rates of increase are now modestly lower from 2019 through 2021
 than stated earlier.
 
 TECHNICAL ASPECTS OF THE REVISION
 
      The IP indexes represent the level of real output relative to a base year.  At the monthly
 frequency, movements of the indexes are based on indicators that are derived using industry-specific data
 from a variety of government and private sources.  The monthly production indexes are anchored to annual
 benchmarks that are less timely but typically based on more comprehensive data.  In most cases, the annual
 benchmark is nominal gross output reported by the Census Bureau deflated by a suitable price index.
 
      Annual revisions to the IP and capacity measures generally involve (1) incorporating new and
 revised annual benchmark data on output, prices, and value-added proportions; (2) incorporating new
 monthly or quarterly data that were revised or that arrived too late to be included in the regular
 six-month reporting window for monthly IP; (3) updating seasonal adjustment factors; (4) updating the
 methods used to construct the indexes; and (5) introducing changes to the industry- or market-group
 structure of the indexes based on changes to underlying data sources.
 
 Annual Benchmark Data on Output, Prices, and Value-Added Proportions
 
 Output
 
      The annual benchmark output indexes for IP are measures of real gross output at the six-digit NAICS
 (2017) level.  The Census Bureau provides annual figures for value added and the cost of materials for
 manufacturing industries, which can be summed to obtain nominal gross output.  The benchmark indexes for
 manufacturing for this revision incorporated information for 2020 from the ASM.
 
      New annual data were also incorporated into many other indexes not in the scope of the ASM.  The
 benchmark indexes for metallic and nonmetallic mineral mining were updated with any newly available data
 from 2019 through 2021 from the USGS, and the benchmark indexes for logging and for publishing were
 advanced through 2020 based on data from the U.S. Forest Service and from the U.S. Census Bureau,
 respectively.
 
 Prices
 
      Individual benchmarks of real gross output are obtained by deflating the measures of nominal gross
 output by annual price deflators.  In general, the benchmark industry price deflators consist of price
 indexes from the Bureau of Economic Analysis (BEA) through 2011 that are extended through 2020 with the
 related producer price indexes (PPIs) from the BLS.<4>  However, for a few selected industries, the annual
 price deflators are constructed by the Federal Reserve.<5>
 
 Value-Added Proportions (Weights for Aggregation)
 
      The IP system is organized as a hierarchical structure where individual production indexes are
 combined using a version of the Fisher-ideal index formula to construct aggregate indexes of production.
 Utilization rate aggregates are calculated on an annual basis through the most recent year as
 capacity-weighted aggregates of individual utilization rates.
 
      The weights that are used to combine individual IP indexes into more aggregate indexes are based on
 the value added from the industry, calculated as gross output less cost of materials.  For individual IP
 indexes that are defined at the six-digit (or more aggregate) NAICS level, the value-added weights are
 derived from either the Economic Census or the ASM.  For IP indexes that cover only part of a six-digit
 NAICS industry, the aggregation weights were constructed by allocating value added (as defined by the
 Census Bureau) for a six-digit industry across the various components of IP that compose that industry.
 
      The allocation of value added across each component was determined by that component's share of the
 industry's overall product shipments.  As in the 2021 annual revision, this annual revision used data on
 product shipments based on the new 2017 North American Product Classification System (NAPCS).  In earlier
 revisions, product shipments were classified based on NAICS and were included as part of the Census of
 Manufactures or ASM.  NAPCS is coded independently of NAICS, and a concordance was required to align the
 recent data with the historical data for the period before 2017.  Missing values for specific NAPCS-based
 products were imputed where necessary.
 
      The Federal Reserve derives estimates of value added for the electric and gas utility industries
 from annual revenue and expense data issued by other organizations.  For electric utilities, the measures
 of value added incorporate data from the Energy Information Administration of the U.S. Department of
 Energy and from the Edison Electric Institute.  For gas utilities, the value-added estimates incorporate
 data from the American Gas Association.  The weights for aggregation for mining industries are derived
 from value-added data from the Economic Census.  Figures for value added for mining industries in the
 years between the quinquennial Economic Censuses are estimated based on both output and price changes for
 the industry.
 
      The weights for aggregation, expressed as value added per unit output, were estimated with data on
 producer prices for the period after 2020.
 
 Revised Quarterly and Monthly Data
 
       This revision incorporated source data on production, shipments, and inventories that became
 available or were revised after the regular six-month reporting window for monthly IP was closed.  These
 data were released with too great of a lag to be included with monthly IP estimates but were available for
 inclusion in the annual revision.
 
 Revised Seasonal Factors
 
      IP indexes are adjusted to remove from the underlying data the predictable movements related to
 timing, holiday, workday, and monthly or quarterly seasonal patterns.  Individual indexes are adjusted
 using the Census X-13ARIMA-SEATS seasonal adjustment program.  The seasonal factors are based on the full
 history of data back to 1972, where available.
 
      Seasonal factors for indexes based on production-worker hours were updated with data through
 January 2022.  The updated factors for the physical-product-based indexes used data through December 2021
 where available.  Extreme movements in indexes are often explicitly treated as additive outliers in the
 seasonal adjustment procedure and thus excluded from the calculation of seasonal factors.  In recent
 years, the pandemic-related swings in most of the indexes were deemed outliers; in addition, February 2021
 was deemed an outlier for many industries because of the extreme cold weather that caused widespread
 outages.
 
      Seasonal factors for unit motor vehicle assemblies have been updated, and projections through June
 2023 are available on the Board's website at https://www.federalreserve.gov/releases/g17/mvsf.htm.  These
 factors are based on production data through January 2022 and were revised back to January 2017.  The
 seasonal factors explicitly incorporate the holiday schedule for the vehicle assembly lines specified in
 the latest collective bargaining agreements with domestic manufacturers.  The seasonal factors identify
 production data for February and September 2021 as outliers due to intense supply chain disruptions.
 
 Methodological Changes to Individual Production and Capacity Indexes
 
 Change in Source Data for Five Production Indexes
 
      With this revision, three indexes that previously were based on physical product data are now based
 on production-worker hours.  For two other indexes, the source for the underlying physical product data
 was changed from one organization to another.  In all cases, the change in source data arose because the
 organization issuing the original data source discontinued the report.
 
      The three indexes that are now based on production-worker hours are for farm machinery (NAICS
 333111), construction machinery (NAICS 33312), and engines (NAICS 333618).  Each of these IP indexes is
 based on production-worker hours for the first several years of their existence; each is based on data
 from Stark's News Service from 1987 (for construction machinery) or 1992 (for farm machinery and engines)
 through 2016, and on production-worker hours thereafter.
 
      The two IP indexes now based on physical product data from a new organization are for pig iron
 (NAICS 3311,2 pt.) and for metal can, box, and other metal containers (NAICS 33243).  The index for pig
 iron is now based on data from the American Iron and Steel Institute for the period from 1972 through
 2016, and on data from the USGS beginning in 2017.  The index for metal can, box, and other containers is
 based on production-worker hours for 1972 through 1976, on data from the Can Manufacturers Institute (CMI)
 from 1977 through 2016, and on data from the Aluminum Association combined with data from the CMI for the
 period beginning in 2017.  The new estimates replace data on beverage can production, which were
 discontinued by the CMI, with data on the production of aluminum can stock.
 
 Change in Source Data for Allocating Motor Vehicle Production to Business and Consumer Segments
 
      The indexes for automobiles (NAICS 336111) and light trucks (NAICS 336112) each comprise two
 components--one for vehicles purchased by businesses (such as rental fleets) and one for vehicles
 purchased by consumers.  This annual revision incorporates data on vehicle registrations from IHS
 Automotive to allocate vehicles to business or consumer segments.  Previously, the business and consumer
 allocations were made using data from other sources, including the National Truck Equipment Association
 and Ward's Communication.
 
 Change to Capacity Index for Fertilizer
 
      With this revision, the capacity index for fertilizer (NAICS 32531) for the period beginning in
 2017 is based on data from the QSPC.  For the 1997-2016 period, the capacity index is based on data for
 capacity in thousands of short tons from the Fertilizer Institute.  For the 1972-96 period, the capacity
 index is based on data from the Census Bureau's Survey of Plant Capacity, which only covered the fourth
 quarter of every year.
 
 Notice

 Data Availability and Publication Changes
 
      Files containing the revised data and the text and tables from this release are available on the
 Board's website at https://www.federalreserve.gov/releases/g17, as are updated data for the annual
 revision and for all of the regularly issued series on IP, capacity, and capacity utilization.  Other
 changes are listed on the Board's website at
 https://www.federalreserve.gov/releases/g17/g17_revision_series.htm.

 <1> The revision affected rates of change for IP from 1972 forward.  When necessary to maintain
 consistency with any revisions to the data for 1972 and subsequent years, the levels of production for the
 years before 1972 were multiplied by a constant.  However, the rates of change in IP for the years before
 1972 were not revised.  Utilization rates and capacity growth rates were revised minimally between 1968
 and 1971 but were unchanged before then.

 <2> Rates of change are calculated as the percentage change in the seasonally adjusted index from the
 fourth quarter of the previous year to the fourth quarter of the year specified.

 <3> Unless otherwise noted, rates of capacity utilization are reported for the fourth quarter of the
 reference year.

 <4> The BEA price deflators were discontinued at the six-digit NAICS level after 2011.  Overall, at the
 industry level, the BEA and PPI measures are quite similar, as the BEA used weighted product-level PPIs to
 derive its industry-level shipments deflator.

 <5> For selected industries, the Federal Reserve constructs price indexes from alternative sources.  These
 industries include communications equipment (NAICS 3342), computer storage devices (NAICS 334112),
 semiconductors (NAICS 334413), and pharmaceuticals (NAICS 325412).

 Table 1A
 Industrial Production : Total
 Seasonally adjusted
 
 
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
                 |   Jan.   Feb.   Mar.   Apr.    May   June   July   Aug.  Sept.   Oct.   Nov.   Dec.|     Q1     Q2     Q3     Q4|Annual <1>
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
 IP (percent     |                                                                                    |                            |
 change)         |                                                                                    |                            |
  1992           |   -.5     .7     .8     .8     .3     .1     .9    -.6     .3     .7     .4     .2 |   -.5    7.4    3.1    4.2 |      2.9 
  1993           |    .4     .5    -.1     .3    -.4     .2     .2    -.1     .5     .7     .5     .6 |   3.8     .8    1.5    6.4 |      3.3 
                 |                                                                                    |                            |
  1994           |    .3     .1    1.0     .6     .5     .7     .1     .7     .3     .8     .7    1.0 |   5.0    7.5    5.2    8.4 |      5.3 
  1995           |    .2    -.1     .2    -.2     .5     .3    -.4    1.3     .4    -.2     .2     .3 |   4.2    1.3    3.9    3.3 |      4.6 
  1996           |   -.5    1.4    -.2    1.0     .7     .7     .0     .5     .6     .0     .9     .6 |   2.7    8.8    5.3    5.7 |      4.5 
  1997           |    .2    1.2     .6     .1     .6     .5     .8    1.0     .9     .9     .8     .5 |   7.8    5.8    9.6   10.5 |      7.2 
  1998           |    .4     .2     .0     .4     .6    -.6    -.4    2.1    -.1     .7    -.1     .4 |   4.6    2.7    3.0    5.7 |      5.9 
                 |                                                                                    |                            |
  1999           |    .4     .6     .2     .2     .6    -.1     .6     .4    -.4    1.3     .5     .8 |   4.6    3.8    3.7    7.3 |      4.4 
  2000           |   -.1     .4     .4     .6     .3     .1    -.2    -.3     .4    -.3     .0    -.3 |   4.1    5.0    -.4   -1.1 |      3.9 
  2001           |   -.5    -.7    -.3    -.3    -.6    -.6    -.6    -.1    -.5    -.3    -.6     .0 |  -5.1   -5.0   -5.5   -4.3 |     -3.1 
  2002           |    .7     .0     .8     .5     .4     .8     .0    -.1     .1    -.3     .5    -.5 |   2.9    6.4    2.5    -.2 |       .3 
  2003           |    .8     .1    -.3    -.6     .0     .1     .5    -.2     .7     .1     .7     .1 |   2.5   -3.0    2.7    3.9 |      1.3 
                 |                                                                                    |                            |
  2004           |    .2     .6    -.4     .4     .7    -.8     .7     .1     .1     .9     .2     .8 |   2.9    2.3    2.2    5.7 |      2.7 
  2005           |    .4     .7    -.1     .2     .1     .4    -.3     .3   -1.9    1.2    1.1     .5 |   5.7    2.3   -1.6    3.7 |      3.3 
  2006           |    .2     .0     .2     .3     .0     .3    -.1     .4    -.2    -.1    -.1    1.0 |   3.9    2.4    1.5     .8 |      2.3 
  2007           |   -.4    1.0     .2     .7     .1     .0    -.1     .2     .2    -.3     .6     .0 |   4.0    4.9     .6    1.3 |      2.5 
  2008           |   -.1    -.4    -.4    -.7    -.6    -.2    -.4   -1.6   -4.4    1.0   -1.3   -2.8 |  -1.3   -5.8  -12.3  -16.0 |     -3.5 
                 |                                                                                    |                            |
  2009           |  -2.5    -.6   -1.6    -.8   -1.0    -.3    1.2    1.1     .8     .2     .4     .4 | -20.7  -10.7    6.6    6.3 |    -11.4 
  2010           |   1.1     .4     .7     .4    1.4     .2     .4     .4     .3    -.3     .1    1.0 |   8.0    8.1    5.4    1.6 |      5.5 
  2011           |   -.2    -.4    1.0    -.3     .1     .3     .5     .6    -.1     .7     .0     .5 |   2.2    1.6    4.7    4.2 |      3.2 
  2012           |    .6     .3    -.5     .7     .2     .0     .2    -.4    -.1     .3     .4     .3 |   4.0    2.5     .0    2.0 |      3.0 
  2013           |    .0     .5     .4    -.1     .1     .1    -.3     .6     .5    -.1     .2     .2 |   3.1    1.8    1.5    2.7 |      2.0 
                 |                                                                                    |                            |
  2014           |   -.4     .8    1.0     .1     .4     .3     .3    -.2     .3     .0     .6     .0 |   2.8    5.5    2.5    2.2 |      3.0 
  2015           |   -.8    -.6    -.3    -.6    -.5    -.3     .7    -.2    -.3    -.5    -.8    -.5 |  -4.3   -5.5     .2   -5.4 |     -1.4 
  2016           |    .6    -.5    -.8     .3    -.2     .5     .2    -.1    -.1     .1    -.4     .6 |  -2.6   -1.5    1.2    -.4 |     -2.2 
  2017           |   -.2    -.3     .7    1.0     .1     .2    -.2    -.5     .1    1.3     .2     .2 |    .4    5.9   -1.2    5.5 |      1.4 
  2018           |    .0     .4     .6    1.1    -.9     .8     .2     .7     .0    -.1    -.1    -.1 |   2.2    5.1    3.5     .1 |      3.2 
                 |                                                                                    |                            |
  2019           |   -.6    -.4     .1    -.5     .2     .0    -.4     .7    -.3    -.8     .3    -.3 |  -3.7   -1.8     .2   -2.6 |      -.7 
  2020           |   -.5     .4   -3.8  -13.2    1.6    6.3    3.8     .9     .0     .8     .3    1.1 |  -6.1  -41.6   42.6    6.6 |     -7.0 
  2021           |   1.1   -3.1    2.7     .2     .8     .4     .7     .0   -1.0    1.5     .6    -.2 |   3.1    6.5    3.5    4.8 |      4.9 
  2022           |    .4     .8     .7    1.3     .1                                                  |   5.1                      |          
                 |                                                                                    |                            |
 IP (2017=100)   |                                                                                    |                            |
  1992           |  61.6   62.1   62.6   63.1   63.3   63.3   63.9   63.5   63.7   64.2   64.4   64.5 |  62.1   63.2   63.7   64.4 |     63.3 
  1993           |  64.8   65.1   65.0   65.2   64.9   65.1   65.3   65.2   65.5   66.0   66.3   66.7 |  65.0   65.1   65.3   66.3 |     65.4 
                 |                                                                                    |                            |
  1994           |  66.9   67.0   67.6   68.0   68.4   68.8   68.9   69.3   69.6   70.1   70.6   71.3 |  67.2   68.4   69.3   70.7 |     68.9 
  1995           |  71.4   71.3   71.4   71.3   71.7   71.9   71.6   72.5   72.8   72.7   72.9   73.1 |  71.4   71.6   72.3   72.9 |     72.1 
  1996           |  72.7   73.8   73.7   74.4   75.0   75.5   75.5   75.9   76.4   76.4   77.1   77.6 |  73.4   75.0   75.9   77.0 |     75.3 
  1997           |  77.7   78.6   79.1   79.2   79.6   80.0   80.6   81.5   82.2   82.9   83.6   84.0 |  78.5   79.6   81.4   83.5 |     80.7 
  1998           |  84.3   84.5   84.5   84.8   85.4   84.8   84.5   86.2   86.2   86.8   86.7   87.1 |  84.5   85.0   85.6   86.8 |     85.5 
                 |                                                                                    |                            |
  1999           |  87.4   87.9   88.1   88.3   88.8   88.8   89.3   89.7   89.3   90.5   91.0   91.7 |  87.8   88.7   89.5   91.0 |     89.2 
  2000           |  91.6   92.0   92.3   92.9   93.2   93.2   93.0   92.8   93.2   92.8   92.8   92.5 |  92.0   93.1   93.0   92.7 |     92.7 
  2001           |  92.0   91.4   91.2   90.9   90.4   89.9   89.3   89.2   88.7   88.5   88.0   87.9 |  91.5   90.4   89.1   88.1 |     89.8 
  2002           |  88.5   88.5   89.2   89.6   90.0   90.8   90.7   90.6   90.7   90.5   91.0   90.5 |  88.8   90.1   90.7   90.7 |     90.1 
  2003           |  91.2   91.3   91.1   90.5   90.5   90.6   91.1   90.8   91.4   91.6   92.2   92.3 |  91.2   90.5   91.1   92.0 |     91.2 
                 |                                                                                    |                            |
  2004           |  92.4   93.0   92.6   93.0   93.6   92.9   93.6   93.7   93.8   94.6   94.8   95.6 |  92.7   93.2   93.7   95.0 |     93.6 
  2005           |  95.9   96.6   96.5   96.7   96.8   97.2   96.9   97.2   95.3   96.5   97.6   98.0 |  96.3   96.9   96.5   97.4 |     96.8 
  2006           |  98.2   98.2   98.5   98.8   98.8   99.1   99.0   99.5   99.3   99.2   99.1  100.1 |  98.3   98.9   99.2   99.5 |     99.0 
  2007           |  99.7  100.7  100.9  101.6  101.6  101.7  101.6  101.8  102.0  101.7  102.3  102.3 | 100.4  101.6  101.8  102.1 |    101.5 
  2008           | 102.2  101.8  101.4  100.7  100.1   99.9   99.5   97.9   93.7   94.6   93.3   90.7 | 101.8  100.3   97.0   92.9 |     98.0 
                 |                                                                                    |                            |
  2009           |  88.5   87.9   86.6   85.9   85.0   84.7   85.7   86.6   87.4   87.5   87.9   88.2 |  87.7   85.2   86.6   87.9 |     86.8 
  2010           |  89.2   89.5   90.1   90.5   91.7   91.9   92.3   92.6   92.9   92.6   92.7   93.6 |  89.6   91.4   92.6   93.0 |     91.6 
  2011           |  93.4   93.0   94.0   93.7   93.8   94.0   94.5   95.1   95.1   95.7   95.7   96.2 |  93.5   93.8   94.9   95.9 |     94.5 
  2012           |  96.8   97.1   96.6   97.3   97.5   97.5   97.7   97.3   97.2   97.6   98.0   98.2 |  96.8   97.4   97.4   97.9 |     97.4 
  2013           |  98.2   98.7   99.1   99.0   99.1   99.2   98.9   99.5  100.0   99.9  100.1  100.4 |  98.7   99.1   99.5  100.1 |     99.3 
                 |                                                                                    |                            |
  2014           | 100.0  100.7  101.7  101.8  102.2  102.6  102.8  102.6  103.0  103.0  103.6  103.6 | 100.8  102.2  102.8  103.4 |    102.3 
  2015           | 102.8  102.2  101.8  101.2  100.8  100.5  101.1  100.9  100.6  100.2   99.4   98.9 | 102.3  100.8  100.9   99.5 |    100.8 
  2016           |  99.4   98.9   98.1   98.4   98.2   98.7   98.8   98.7   98.6   98.7   98.3   98.9 |  98.8   98.4   98.7   98.6 |     98.7 
  2017           |  98.7   98.4   99.1  100.1  100.1  100.3  100.1   99.7   99.8  101.0  101.2  101.4 |  98.7  100.2   99.9  101.2 |    100.0 
  2018           | 101.3  101.7  102.3  103.4  102.5  103.3  103.5  104.2  104.2  104.0  104.0  103.9 | 101.8  103.1  103.9  104.0 |    103.2 
                 |                                                                                    |                            |
  2019           | 103.3  102.8  102.9  102.4  102.6  102.6  102.2  102.9  102.6  101.8  102.1  101.8 | 103.0  102.5  102.6  101.9 |    102.5 
  2020           | 101.3  101.7   97.9   85.0   86.3   91.8   95.2   96.1   96.1   96.8   97.1   98.1 | 100.3   87.7   95.8   97.4 |     95.3 
  2021           |  99.3   96.2   98.9   99.0   99.8  100.2  100.9  100.8   99.8  101.4  102.0  101.8 |  98.1   99.7  100.5  101.7 |    100.0 
  2022           | 102.2  103.0  103.7  105.1  105.2                                                  | 103.0                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from January 2022 through May 2022 are subject to further revision in the upcoming monthly releases.
 <1> Annual averages of industrial production are calculated from not seasonally adjusted indexes.
 
 
 

 Table 1B
 Capacity and Utilization: Total
 Seasonally adjusted
 
 
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
                 |   Jan.   Feb.   Mar.   Apr.    May   June   July   Aug.  Sept.   Oct.   Nov.   Dec.|     Q1     Q2     Q3     Q4|    Annual
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
 Capacity        |                                                                                    |                            |
 (percent of     |                                                                                    |                            |
 2017 output)    |                                                                                    |                            |
  1992           |  77.6   77.8   77.9   78.1   78.2   78.4   78.6   78.8   78.9   79.1   79.2   79.4 |  77.8   78.2   78.8   79.2 |     78.5 
  1993           |  79.5   79.6   79.8   79.9   80.0   80.1   80.2   80.4   80.5   80.6   80.8   81.0 |  79.6   80.0   80.4   80.8 |     80.2 
                 |                                                                                    |                            |
  1994           |  81.1   81.3   81.5   81.8   82.0   82.2   82.5   82.8   83.0   83.3   83.6   83.9 |  81.3   82.0   82.8   83.6 |     82.4 
  1995           |  84.1   84.4   84.7   85.0   85.3   85.7   86.0   86.3   86.7   87.0   87.4   87.8 |  84.4   85.3   86.3   87.4 |     85.9 
  1996           |  88.2   88.6   89.0   89.4   89.8   90.2   90.6   91.1   91.5   91.9   92.4   92.8 |  88.6   89.8   91.1   92.4 |     90.4 
  1997           |  93.2   93.7   94.2   94.7   95.2   95.7   96.2   96.8   97.4   98.0   98.6   99.3 |  93.7   95.2   96.8   98.6 |     96.1 
  1998           |  99.9  100.6  101.2  101.9  102.5  103.1  103.7  104.3  104.8  105.3  105.8  106.3 | 100.6  102.5  104.3  105.8 |    103.3 
                 |                                                                                    |                            |
  1999           | 106.8  107.2  107.7  108.1  108.5  108.9  109.3  109.7  110.1  110.5  110.9  111.3 | 107.2  108.5  109.7  110.9 |    109.1 
  2000           | 111.7  112.0  112.4  112.8  113.2  113.6  113.9  114.3  114.7  115.1  115.4  115.8 | 112.0  113.2  114.3  115.4 |    113.7 
  2001           | 116.2  116.6  116.9  117.3  117.6  117.9  118.2  118.5  118.8  119.0  119.3  119.5 | 116.5  117.6  118.5  119.3 |    118.0 
  2002           | 119.7  119.8  120.0  120.1  120.2  120.3  120.3  120.3  120.3  120.3  120.3  120.2 | 119.8  120.2  120.3  120.3 |    120.2 
  2003           | 120.2  120.1  120.1  120.0  120.0  120.0  119.9  119.9  119.9  119.9  119.8  119.8 | 120.1  120.0  119.9  119.8 |    120.0 
                 |                                                                                    |                            |
  2004           | 119.8  119.8  119.8  119.7  119.7  119.7  119.7  119.7  119.7  119.7  119.8  119.8 | 119.8  119.7  119.7  119.8 |    119.7 
  2005           | 119.9  120.0  120.1  120.3  120.4  120.6  120.7  120.9  121.1  121.2  121.4  121.6 | 120.0  120.4  120.9  121.4 |    120.7 
  2006           | 121.7  121.9  122.1  122.3  122.5  122.7  122.9  123.2  123.4  123.7  124.0  124.3 | 121.9  122.5  123.2  124.0 |    122.9 
  2007           | 124.6  124.9  125.2  125.4  125.7  125.9  126.1  126.2  126.3  126.3  126.3  126.3 | 124.9  125.7  126.2  126.3 |    125.8 
  2008           | 126.2  126.1  126.0  126.0  125.9  125.9  125.9  126.0  126.1  126.2  126.4  126.5 | 126.1  125.9  126.0  126.4 |    126.1 
                 |                                                                                    |                            |
  2009           | 126.7  126.9  127.0  127.1  127.2  127.3  127.3  127.2  127.1  127.0  126.8  126.6 | 126.9  127.2  127.2  126.8 |    127.0 
  2010           | 126.3  126.1  125.8  125.5  125.3  125.0  124.8  124.5  124.4  124.2  124.1  124.0 | 126.1  125.3  124.6  124.1 |    125.0 
  2011           | 123.9  123.9  123.9  124.0  124.1  124.2  124.3  124.5  124.7  124.9  125.1  125.3 | 123.9  124.1  124.5  125.1 |    124.4 
  2012           | 125.6  125.8  126.0  126.3  126.5  126.7  126.9  127.2  127.4  127.6  127.7  127.9 | 125.8  126.5  127.2  127.7 |    126.8 
  2013           | 128.1  128.3  128.4  128.6  128.7  128.8  128.9  129.0  129.1  129.2  129.3  129.3 | 128.3  128.7  129.0  129.3 |    128.8 
                 |                                                                                    |                            |
  2014           | 129.4  129.5  129.6  129.7  129.8  129.9  130.0  130.2  130.3  130.4  130.5  130.6 | 129.5  129.8  130.2  130.5 |    130.0 
  2015           | 130.7  130.8  130.8  130.9  130.9  130.9  130.9  130.9  130.9  130.9  130.9  130.9 | 130.8  130.9  130.9  130.9 |    130.9 
  2016           | 130.9  130.9  130.9  130.9  131.0  131.0  131.0  131.1  131.1  131.2  131.2  131.2 | 130.9  131.0  131.1  131.2 |    131.0 
  2017           | 131.2  131.2  131.1  131.0  130.9  130.8  130.7  130.6  130.4  130.3  130.2  130.0 | 131.2  130.9  130.6  130.2 |    130.7 
  2018           | 129.9  129.8  129.8  129.7  129.7  129.7  129.7  129.7  129.8  129.8  129.9  130.0 | 129.8  129.7  129.7  129.9 |    129.8 
                 |                                                                                    |                            |
  2019           | 130.1  130.2  130.4  130.5  130.6  130.7  130.9  131.0  131.2  131.3  131.4  131.5 | 130.2  130.6  131.0  131.4 |    130.8 
  2020           | 131.6  131.7  131.7  131.7  131.6  131.5  131.4  131.2  131.0  130.8  130.5  130.2 | 131.6  131.6  131.2  130.5 |    131.2 
  2021           | 130.0  129.7  129.5  129.3  129.1  129.0  128.9  128.9  128.9  129.0  129.1  129.2 | 129.8  129.2  128.9  129.1 |    129.2 
  2022           | 129.4  129.6  129.8  130.0  130.2                                                  | 129.6                      |          
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1992           |  79.4   79.8   80.3   80.8   80.9   80.7   81.3   80.7   80.7   81.1   81.3   81.3 |  79.9   80.8   80.9   81.2 |     80.7 
  1993           |  81.5   81.7   81.5   81.6   81.2   81.3   81.3   81.1   81.4   81.9   82.1   82.4 |  81.6   81.4   81.3   82.1 |     81.6 
                 |                                                                                    |                            |
  1994           |  82.5   82.3   82.9   83.2   83.4   83.7   83.5   83.8   83.8   84.2   84.5   85.0 |  82.6   83.4   83.7   84.5 |     83.6 
  1995           |  84.9   84.5   84.3   83.9   84.0   83.9   83.3   84.0   84.0   83.6   83.4   83.3 |  84.6   83.9   83.8   83.4 |     83.9 
  1996           |  82.5   83.3   82.8   83.3   83.5   83.7   83.3   83.4   83.5   83.1   83.4   83.6 |  82.9   83.5   83.4   83.4 |     83.3 
  1997           |  83.3   83.9   84.0   83.6   83.7   83.6   83.8   84.2   84.4   84.6   84.8   84.6 |  83.7   83.6   84.1   84.7 |     84.0 
  1998           |  84.4   84.0   83.5   83.3   83.3   82.3   81.5   82.7   82.2   82.4   81.9   81.9 |  84.0   82.9   82.1   82.1 |     82.8 
                 |                                                                                    |                            |
  1999           |  81.9   82.0   81.8   81.7   81.9   81.5   81.7   81.8   81.1   81.9   82.0   82.4 |  81.9   81.7   81.5   82.1 |     81.8 
  2000           |  82.1   82.1   82.1   82.3   82.3   82.1   81.7   81.2   81.2   80.7   80.4   79.9 |  82.1   82.2   81.3   80.3 |     81.5 
  2001           |  79.2   78.4   78.0   77.5   76.9   76.2   75.6   75.3   74.7   74.3   73.8   73.6 |  78.5   76.9   75.2   73.9 |     76.1 
  2002           |  74.0   73.9   74.3   74.6   74.9   75.5   75.4   75.3   75.4   75.2   75.6   75.3 |  74.1   75.0   75.4   75.4 |     75.0 
  2003           |  75.9   76.0   75.8   75.4   75.4   75.5   75.9   75.8   76.3   76.4   76.9   77.0 |  75.9   75.4   76.0   76.8 |     76.0 
                 |                                                                                    |                            |
  2004           |  77.1   77.6   77.3   77.7   78.2   77.6   78.2   78.3   78.4   79.0   79.2   79.8 |  77.4   77.8   78.3   79.3 |     78.2 
  2005           |  80.0   80.5   80.3   80.4   80.4   80.6   80.3   80.4   78.8   79.6   80.4   80.6 |  80.3   80.5   79.8   80.2 |     80.2 
  2006           |  80.7   80.6   80.7   80.8   80.7   80.8   80.6   80.8   80.4   80.1   79.9   80.5 |  80.6   80.7   80.6   80.2 |     80.5 
  2007           |  80.0   80.6   80.6   81.0   80.9   80.8   80.6   80.7   80.8   80.5   81.0   81.0 |  80.4   80.9   80.7   80.9 |     80.7 
  2008           |  81.0   80.7   80.5   80.0   79.5   79.4   79.0   77.7   74.3   74.9   73.9   71.7 |  80.7   79.6   77.0   73.5 |     77.7 
                 |                                                                                    |                            |
  2009           |  69.8   69.3   68.1   67.5   66.8   66.6   67.3   68.1   68.7   69.0   69.3   69.7 |  69.1   67.0   68.1   69.3 |     68.4 
  2010           |  70.6   71.0   71.7   72.1   73.2   73.5   74.0   74.4   74.7   74.6   74.7   75.5 |  71.1   72.9   74.3   74.9 |     73.3 
  2011           |  75.3   75.0   75.8   75.5   75.6   75.7   76.0   76.4   76.3   76.7   76.5   76.8 |  75.4   75.6   76.2   76.7 |     76.0 
  2012           |  77.1   77.2   76.6   77.1   77.1   76.9   77.0   76.5   76.4   76.5   76.7   76.8 |  77.0   77.0   76.6   76.6 |     76.8 
  2013           |  76.7   76.9   77.2   77.0   77.0   77.0   76.7   77.1   77.5   77.3   77.5   77.6 |  76.9   77.0   77.1   77.5 |     77.1 
                 |                                                                                    |                            |
  2014           |  77.3   77.8   78.5   78.5   78.7   79.0   79.1   78.9   79.0   79.0   79.4   79.3 |  77.9   78.7   79.0   79.2 |     78.7 
  2015           |  78.6   78.1   77.8   77.3   77.0   76.7   77.2   77.1   76.9   76.5   75.9   75.5 |  78.2   77.0   77.0   76.0 |     77.1 
  2016           |  76.0   75.6   75.0   75.2   75.0   75.3   75.4   75.3   75.2   75.3   74.9   75.4 |  75.5   75.2   75.3   75.2 |     75.3 
  2017           |  75.3   75.0   75.6   76.4   76.5   76.7   76.6   76.3   76.5   77.5   77.8   78.0 |  75.3   76.5   76.5   77.8 |     76.5 
  2018           |  78.0   78.3   78.8   79.7   79.0   79.6   79.8   80.3   80.3   80.1   80.0   79.9 |  78.4   79.5   80.1   80.0 |     79.5 
                 |                                                                                    |                            |
  2019           |  79.4   78.9   78.9   78.5   78.5   78.5   78.1   78.5   78.2   77.5   77.7   77.4 |  79.1   78.5   78.3   77.5 |     78.3 
  2020           |  77.0   77.3   74.3   64.5   65.6   69.8   72.5   73.3   73.3   74.0   74.4   75.3 |  76.2   66.6   73.0   74.6 |     72.6 
  2021           |  76.4   74.2   76.3   76.6   77.3   77.7   78.2   78.2   77.4   78.6   79.0   78.7 |  75.6   77.2   78.0   78.8 |     77.4 
  2022           |  79.0   79.5   79.9   80.9   80.8                                                  |  79.5                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from January 2022 through May 2022 are subject to further revision in the upcoming monthly releases.
 
 
 
 
 
 
 

 Table 2
 Rates of Change in Industrial Production, Market and Industry Group Summary: 2017-2021 <1>
 
 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          |               |                                              |              Difference between
                                                          |               |                Revised change                |         revised and earlier changes
                                                          |               |                  (percent)                   |             (percentage points)
 Item                                                     |         NAICS |     2017     2018     2019     2020     2021 |     2017     2018     2019     2020     2021
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          |               |                                              |
  Total IP                                                |               |     2.6      2.7     -2.0     -4.4      4.5  |      .0       .0       .1      -.2       .0 
                                                          |               |                                              |
  MARKET GROUP                                            |               |                                              |
  Final products and nonindustrial supplies               |               |     1.9      1.0     -1.9     -2.5      3.9  |      .1      -.3       .0       .9       .0 
     Consumer goods                                       |               |     -.6       .9      -.5       .6      1.4  |     -.1       .2       .7      1.4       .0 
        Durable                                           |               |     -.9      4.2     -2.1      8.2      -.1  |     -.3      -.3      2.1      4.1       .2 
           Automotive products                            |               |     1.1      4.3     -1.3     12.6     -5.5  |     -.4      -.7      3.9      7.5       .3 
           Home electronics                               |               |     5.5     19.0      2.2     14.1     12.3  |      .1      -.7     -1.2     -2.0      6.3 
           Appliances, furniture, carpeting               |               |    -2.3      -.8     -4.5      2.7      4.5  |     -.3       .9     -1.6     -2.5      3.8 
           Miscellaneous goods                            |               |    -4.8      5.3     -3.0      1.3      8.8  |      .0      -.1      1.0       .6     -1.6 
        Nondurable                                        |               |     -.5      -.1      -.1     -1.6      2.0  |     -.1       .3       .3       .6       .1 
           Non-energy                                     |               |    -1.2     -1.4      1.6       .1      1.9  |      .0       .0      1.2       .9      -.6 
              Foods and tobacco                           |               |      .4     -2.0      2.5       .5      -.1  |      .0      -.2      1.1       .9      -.5 
              Clothing                                    |               |    -8.2     -1.1      -.7     -9.7      6.0  |     -.4      1.6     -2.6     -8.4      1.4 
              Chemical products                           |               |    -3.4      -.7      2.1       .7      6.4  |     -.1       .4      2.1      1.5     -1.2 
              Paper products                              |               |    -3.8     -2.9     -7.2     -5.2     -4.4  |      .7      -.2     -1.2      -.9     -1.2 
           Energy                                         |               |     2.0      4.0     -4.9     -8.0      3.1  |     -.4      1.2     -2.4     -1.4      2.5 
                                                          |               |                                              |
     Business equipment                                   |               |     8.1     -1.1     -7.9     -7.6      7.7  |     1.0     -2.5     -3.7       .8      2.5 
        Transit                                           |               |    13.0    -12.5    -18.8    -12.0      2.2  |     4.0     -8.5    -12.7     11.7      4.4 
        Information processing                            |               |     4.3      5.6       .3     -3.9     10.1  |     -.5      1.4     -1.3     -7.5      2.0 
        Industrial and other                              |               |     6.9      3.2     -5.6     -7.2      8.9  |     -.1      -.4      -.3     -2.7      1.3 
     Defense and space equipment                          |               |     1.0      7.3     11.4     -2.9     10.0  |     -.7      2.4       .5     -4.8     -5.4 
                                                          |               |                                              |
     Construction supplies                                |               |     2.0       .9     -2.1     -1.1      5.9  |     -.2       .2       .3      -.7       .8 
     Business supplies                                    |               |     1.1       .7     -1.6     -3.6      3.2  |      .0      -.2      1.4      1.4      -.9 
                                                          |               |                                              |
  Materials                                               |               |     3.6      4.8     -2.1     -7.0      5.2  |     -.2       .4       .4     -1.5       .2 
     Non-energy                                           |               |     1.0      1.3     -4.3     -3.7      4.3  |     -.3       .5       .0     -2.0       .5 
        Durable                                           |               |     1.7      2.3     -5.6     -5.5      4.5  |     -.4       .3      -.5     -2.6       .3 
           Consumer parts                                 |               |    -3.1      3.1    -12.8     -3.1      1.3  |     -.6       .6     -2.2     -4.2       .9 
           Equipment parts                                |               |     3.7      2.5     -3.2     -7.4      8.6  |     -.5       .5     -1.5     -5.8      1.2 
           Other                                          |               |     2.3      2.0     -4.5     -5.2      3.4  |     -.2       .1       .7      -.4      -.4 
        Nondurable                                        |               |     -.2      -.4     -2.3      -.8      4.0  |     -.3      1.0       .7     -1.0       .9 
           Textile                                        |               |    -6.0      -.1     -4.6     -3.8      4.7  |     -.1      -.6      -.8      1.0     -1.1 
           Paper                                          |               |    -5.3      1.6      -.5     -8.2      2.0  |      .0       .3       .9      -.7       .5 
           Chemical                                       |               |     1.7     -1.7     -5.1       .3      6.2  |     -.5      1.7       .5     -2.7      1.8 
     Energy                                               |               |     8.6     10.4      1.5    -12.7      7.0  |      .1       .0       .9      -.5       .0 
                                                          |               |                                              |
                                                          |               |                                              |
  INDUSTRY GROUP                                          |               |                                              |
  Manufacturing<2>                                        |               |     1.3       .6     -2.6     -2.6      4.2  |      .0       .0       .0       .0       .0 
     Manufacturing (NAICS)                                |        31-33  |     1.3       .8     -2.6     -2.6      4.5  |      .0       .0      -.1      -.2       .0 
                                                          |               |                                              |
        Durable manufacturing                             |               |     2.8      2.0     -4.3     -3.1      5.1  |      .0      -.4     -1.0      -.5       .2 
           Wood products                                  |          321  |      .9     -3.7      -.2      3.0      1.6  |      .1      -.3       .9      2.8      -.9 
           Nonmetallic mineral products                   |          327  |      .2       .3      -.3     -1.0      -.1  |     -.5      1.2      1.9     -2.0      -.8 
           Primary metals                                 |          331  |     3.0      3.0     -7.6     -4.6      7.8  |      .5     -1.1      -.1      2.1     -2.1 
           Fabricated metal products                      |          332  |     2.8      3.9     -4.7     -7.8      5.9  |     -.2       .4      -.7     -1.9       .3 
           Machinery                                      |          333  |     8.3      3.5     -7.4     -6.7     10.3  |      .0      -.3      -.7     -6.5      2.9 
           Computer and electronic products               |          334  |     5.8      3.3      1.3     -1.0      9.0  |     -.5      1.1     -1.0     -5.1       .7 
           Electrical equip., appliances,                 |               |                                              |
              and components                              |          335  |    -1.3      3.7     -3.2      -.5      5.8  |      .1      -.3       .0      1.5       .7 
           Motor vehicles and parts                       |       3361-3  |    -1.4      5.5     -6.0      3.9     -4.0  |     -.2      -.3      2.3      1.1      1.6 
           Aerospace and miscellaneous                    |               |                                              |
              transportation equipment                    |       3364-9  |     6.3     -6.4     -4.0     -7.8      7.0  |     1.0     -3.6     -7.8      5.7     -2.4 
           Furniture and related products                 |          337  |    -1.1       .1     -6.6     -8.3      4.8  |     -.2       .4     -2.7     -2.8      1.6 
           Miscellaneous                                  |          339  |    -2.4      4.0     -5.2      -.1      7.5  |      .1      -.4      -.5      1.3       .2 
                                                          |               |                                              |
        Nondurable manufacturing                          |               |     -.3      -.5      -.7     -2.0      3.9  |     -.1       .5       .8       .1      -.2 
           Food, beverage, and tobacco products           |        311,2  |      .3     -1.3      2.6       .7       .0  |      .0      -.2      1.2       .9      -.5 
           Textile and product mills                      |        313,4  |    -7.7       .8     -4.0     -3.6      4.8  |      .0      -.6      -.2      2.1       .1 
           Apparel and leather                            |        315,6  |    -7.9     -1.2     -1.3     -9.4      6.7  |     -.5      1.7     -2.8     -8.6      2.2 
           Paper                                          |          322  |    -3.7      2.5     -1.1     -4.6       .5  |     -.1       .5       .3     -1.0      1.5 
           Printing and support                           |          323  |     -.8     -1.2     -2.0     -8.1      3.4  |      .3      -.9      1.7       .2     -4.5 
           Petroleum and coal products                    |          324  |     3.0       .7     -4.5    -16.4     18.7  |     -.5      1.8     -3.4     -4.3      7.5 
           Chemicals                                      |          325  |     -.7     -1.7     -1.5      -.1      5.9  |     -.2      1.0      1.6      -.1      -.2 
           Plastics and rubber products                   |          326  |      .9      2.4     -3.3     -1.3      2.3  |     -.1       .1      1.8       .9     -1.6 
                                                          |               |                                              |
     Other manufacturing (non-NAICS)                      |    1133,5111  |     -.2     -5.2     -3.5     -2.9     -5.6  |      .5     -1.3      4.1      6.2     -1.5 
                                                          |               |                                              |
  Mining                                                  |           21  |    12.6     14.6      1.7    -18.0     10.9  |      .3       .5      1.2     -1.4      1.0 
  Utilities                                               |       2211,2  |     2.6      3.0     -1.7     -2.5      -.3  |     -.1       .0       .0       .7      -.1 
     Electric                                             |         2211  |     1.7      1.5     -1.2     -1.6       .4  |      .0       .0       .0       .5      -.4 
     Natural gas                                          |         2212  |     8.8     12.7     -4.7     -8.5     -4.6  |     -.6      -.2      -.5      1.4      1.9 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
 
 <1>  Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the
      previous year to the fourth quarter of the year specified in the column heading.
 <2>  Manufacturing consists of those industries included in the North American Industry Classification System, or NAICS,
      definition of manufacturing plus those industries--logging and newspaper, periodical, book, and directory publishing
      --that have traditionally been considered to be a part of manufacturing and are included in the industrial sector.
 


 Table 3
 Rates of Change in Industrial Production, Special Aggregates and Selected Detail: 2017-2021 <1>
 
 
 ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |              |                                         |           Difference between
                                                   |              |             Revised change              |       revised and earlier changes
                                                   |              |                (percent)                |           (percentage points)
 Item                                              |        NAICS |    2017    2018    2019    2020    2021 |    2017    2018    2019    2020    2021
 ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |              |                                         |
  Total industry                                   |              |    2.6     2.7    -2.0    -4.4     4.5  |     .0      .0      .1     -.2      .0 
                                                   |              |                                         |
  Energy                                           |              |    7.1     8.7     -.2   -12.3     7.2  |     .0      .3      .2     -.5      .7 
     Consumer products                             |              |    2.0     4.0    -4.9    -8.0     3.1  |    -.4     1.2    -2.4    -1.4     2.5 
     Commercial products                           |              |    1.8     2.5      .7    -7.7     7.0  |     .0      .0      .4     1.8     -.3 
     Oil and gas well drilling                     |      213111  |   44.2    30.7   -11.5   -50.2    73.1  |    2.0     2.8     -.4    -1.9     9.4 
     Converted fuel                                |              |    2.9     4.9    -2.5    -3.9     3.1  |     .0      .1      .1      .6      .0 
     Primary energy                                |              |   11.4    12.6     3.2   -16.5     8.8  |     .2     -.1     1.1     -.6      .0 
                                                   |              |                                         |
  Non-energy                                       |              |    1.3      .6    -2.6    -2.0     3.8  |    -.1     -.1      .1     -.1      .0 
     Selected high-technology industries           |              |    8.2     6.2     5.3     6.3    11.1  |    -.6     1.2     -.8    -2.8     2.4 
        Computers and peripheral equipment         |        3341  |  -13.4    27.2     8.9    13.7    20.8  |     .6    -1.9    -3.2    -5.3    12.6 
        Communications equipment                   |        3342  |   11.3    14.4     2.1     6.2    14.1  |    -.7     2.2    -2.2    -6.8     8.2 
        Semiconductors and related                 |              |                                         |
           electronic components                   |        3344  |   11.2      .5     5.9     5.1     8.6  |    -.7     1.2      .3     -.8    -1.5 
                                                   |              |                                         |
     Excluding selected high-technology            |              |                                         |
           industries                              |              |    1.1      .5    -2.8    -2.2     3.6  |     .0     -.1      .2      .0     -.1 
                                                   |              |                                         |
        Motor vehicles and parts                   |      3361-3  |   -1.4     5.5    -6.0     3.9    -4.0  |    -.2     -.3     2.3     1.1     1.6 
           Motor vehicles                          |        3361  |   -4.7     9.9    -4.0     9.2    -8.8  |     .0    -1.1     4.5     5.9     2.7 
           Motor vehicle parts                     |        3363  |    -.7     3.2    -9.2    -2.3    -1.0  |    -.5      .3    -1.1    -2.9      .4 
                                                   |              |                                         |
        Excluding motor vehicles and parts         |              |    1.3      .0    -2.5    -2.8     4.3  |     .0     -.1      .0     -.1     -.2 
           Consumer goods                          |              |   -1.2     -.7      .6      .4     2.6  |     .0      .0     1.1      .7     -.5 
           Business equipment                      |              |    9.4    -3.7    -8.5    -7.8     7.7  |    1.0    -2.9    -4.5     3.0     1.2 
           Construction supplies                   |              |    2.0      .9    -2.1    -1.2     5.9  |    -.2      .2      .3     -.7      .8 
           Business supplies                       |              |     .4      .1    -2.9    -2.7     1.6  |     .0     -.3     1.8     1.4    -1.1 
           Materials                               |              |     .9     1.2    -4.1    -4.0     4.6  |    -.3      .5      .1    -1.9      .6 
                                                   |              |                                         |
  Measures excluding selected high-technology      |              |                                         |
        industries                                 |              |                                         |
  Total industry                                   |              |    2.5     2.6    -2.2    -4.7     4.3  |     .0      .0      .2     -.1      .0 
     Manufacturing<2>                              |              |    1.1      .5    -2.9    -2.8     4.0  |     .0     -.1      .0      .1     -.1 
        Durable                                    |              |    2.5     1.7    -4.8    -3.6     4.7  |     .1     -.5    -1.0     -.3      .0 
                                                   |              |                                         |
  Measures excluding motor vehicles and parts      |              |                                         |
  Total industry                                   |              |    2.9     2.5    -1.7    -5.0     5.1  |     .0      .0      .0     -.3      .0 
     Manufacturing<2>                              |              |    1.5      .2    -2.3    -3.1     5.0  |     .0      .0     -.2     -.2     -.1 
        Durable                                    |              |    3.6     1.4    -3.9    -4.3     6.8  |     .1     -.4    -1.5     -.8      .2 
                                                   |              |                                         |
  Measures excluding selected high-technology      |              |                                         |
        industries and motor vehicles and parts    |              |                                         |
  Total industry                                   |              |    2.7     2.4    -1.9    -5.2     4.9  |     .0      .0      .0     -.2      .0 
     Manufacturing<2>                              |              |    1.3      .0    -2.6    -3.4     4.7  |     .0      .0     -.2     -.1     -.2 
                                                   |              |                                         |
  Stage-of-process components                      |              |                                         |
        of non-energy materials,                   |              |                                         |
        measures of the input to                   |              |                                         |
  Finished processors                              |              |    -.3     2.4    -5.6    -6.2     5.3  |    -.4      .5    -1.3    -4.2      .9 
  Primary and semifinished processors              |              |    1.7      .6    -3.6    -2.2     3.8  |    -.3      .6      .7     -.7      .3 
                                                   |              |                                         |
  Stage-of-process groups                          |              |                                         |
  Crude                                            |              |    6.4     9.7      .3   -12.1     5.8  |     .0      .4     1.1    -1.5      .5 
  Primary and semifinished                         |              |    1.9     1.6    -3.7    -4.3     3.8  |    -.2      .3     -.1     -.5      .3 
  Finished                                         |              |    2.0      .9     -.8    -1.4     4.8  |     .1     -.4      .0     1.0     -.2 
 ----------------------------------------------------------------------------------------------------------------------------------------------------
 <1> See footnote 1 to table 2.
 <2> See footnote 2 to table 2.
 
 
 

 Table 4
 Annual Rates of Change for Industrial Production <1>
 
 
 --------------------------------------------------------------------------------------------------------------------------------------------
                                                          |                                         |           Difference between
                                                          |          Revised Growth Rates           |        revised and earlier rates
                                                          |                                         |           (percentage points)
 Item                                                     |    2017    2018    2019    2020    2021 |    2017    2018    2019    2020    2021
 --------------------------------------------------------------------------------------------------------------------------------------------
                                                          |                                         |
  Total IP                                                |    1.4     3.2     -.7    -7.0     4.9  |     .0      .0      .1      .2     -.6 
                                                          |                                         |
  MARKET GROUP                                            |                                         |
  Consumer goods                                          |   -1.1      .8     -.3    -2.6     4.4  |     .0      .0      .5     1.3      .0 
     Durable                                              |    -.3     3.2    -1.0    -3.4    10.1  |    -.2      .0      .6     3.9      .6 
     Nondurable                                           |   -1.3      .1      .0    -2.3     2.8  |     .0      .0      .5      .6     -.3 
                                                          |                                         |
  Business equipment                                      |    4.7     3.9    -7.8   -13.0     9.7  |     .1      .0    -3.8      .6      .0 
  Defense and space equipment                             |    2.3     2.3    13.0    -2.1    10.4  |     .0      .0     3.2    -3.9    -5.1 
                                                          |                                         |
  Construction supplies                                   |    1.3     1.7    -1.3    -3.9     4.7  |     .0     -.1      .6     -.2     -.3 
  Business supplies                                       |     .1     2.0    -1.8    -5.8     3.8  |     .0     -.1      .4     2.4    -1.0 
                                                          |                                         |
  Materials                                               |    2.1     4.7      .4    -8.9     4.2  |     .1      .0      .5     -.9     -.6 
     Non-energy                                           |     .5     1.4    -2.4    -7.8     5.2  |     .1      .0      .6    -1.5     -.6 
     Energy                                               |    5.1    10.3     4.8   -10.9     2.5  |     .0      .0      .4      .1     -.2 
                                                          |                                         |
                                                          |                                         |
  INDUSTRY GROUP                                          |                                         |
  Manufacturing<2>                                        |     .6     1.3    -2.0    -6.3     5.7  |     .0      .0      .0      .3     -.7 
     Manufacturing (NAICS)                                |     .7     1.5    -1.9    -6.3     5.8  |     .0      .0      .0      .1     -.8 
        Durable manufacturing                             |    1.7     3.1    -2.8    -8.7     7.8  |     .0      .0     -.8     -.4     -.9 
        Nondurable manufacturing                          |    -.4     -.3     -.8    -3.7     3.8  |     .0      .0      .9      .7     -.7 
     Other manufacturing (non-NAICS)                      |   -1.0    -3.3    -4.3    -7.9     -.2  |    -.1      .1      .2     6.8     2.4 
                                                          |                                         |
  Mining                                                  |    9.2    13.3     6.7   -15.0     3.2  |     .5      .3      .8     -.9      .7 
  Utilities                                               |    -.8     4.9     -.8    -2.9     1.9  |     .0      .0      .0      .5     -.3 
 --------------------------------------------------------------------------------------------------------------------------------------------
 
 <1> The rates of change are calculated as the percent change in the annual averages of not seasonally adjusted industrial production indexes
     rather than as the percent change between the fourth quarter of one year and the fourth quarter of the next.
 <2> See footnote 2 to table 2.
 
 
 

 Table 5
 Rates of Change in Capacity, by Industry Groups: 2018-2022 <1>
 
 
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |                                                   |                Difference between
                                                   |                  Revised change                   |            revised and earlier changes
                                                   |                     (percent)                     |                (percentage points)
 Item                                              |      2018      2019      2020      2021      2022 |      2018      2019      2020      2021      2022
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
  Total industry                                   |      -.2       1.1       -.7      -1.1       1.6  |      -.7       -.2       -.6      -1.5        .7 
                                                   |                                                   |
  Manufacturing<2>                                 |      -.7       -.4       -.8       -.5       1.0  |      -.8       -.5       -.1       -.6        .7 
     Manufacturing (NAICS)                         |      -.5       -.2       -.6       -.3       1.1  |      -.8       -.5       -.1       -.6        .6 
        Durable manufacturing                      |      -.4        .1       -.2        .0       1.5  |     -1.2       -.4        .2       -.3        .3 
        Nondurable manufacturing                   |      -.6       -.6      -1.2       -.5        .7  |      -.3       -.7       -.5       -.8        .9 
     Other manufacturing (non-NAICS)               |     -4.4      -5.7      -4.9      -6.3      -6.4  |      -.1       -.4        .9       -.8        .5 
                                                   |                                                   |
  Mining                                           |      2.4       8.9      -3.3      -7.3       3.5  |      -.5       1.5      -3.6      -6.2       1.5 
  Utilities                                        |       .5       1.5       2.5       2.4       2.6  |       .0       -.3       -.4       -.2        .2 
                                                   |                                                   |
                                                   |                                                   |
  Selected high-technology industries              |      6.8       8.0       2.3       7.7      11.5  |       .4      -2.4       -.8       -.5       3.3 
  Manufacturing<2> ex. selected                    |                                                   |
        high-technology industries                 |      -.9       -.6       -.9       -.7        .7  |      -.8       -.5       -.1       -.6        .6 
                                                   |                                                   |
  Stage-of-process groups                          |                                                   |
  Crude                                            |       .4       5.7      -2.8      -6.0       2.6  |      -.9        .5      -2.9      -5.5       1.0 
  Primary and semifinished                         |      -.8       -.3       -.1       -.3       1.0  |      -.5       -.6       -.1      -1.0        .3 
  Finished                                         |       .4        .3       -.5        .4       1.6  |      -.8       -.2       -.1        .4       1.1 
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
 <1> Rates of change are calculated as the percent change in the seasonally adjusted index from the fourth quarter of the
     previous year to the fourth quarter of the year specified in the column heading.
 <2> See footnote 2 to table 2.
 
 
 

 Table 6
 Revised and Earlier Capacity Utilization Rates, by Industry Groups
 
   Percent of capacity, seasonally adjusted
 
 
 --------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          |               |                                         |         Difference between
                                                          |               |              Revised rate               |      revised and earlier rates
                                                          |               |                                         |         (percentage points)
                                                          |               |   1972-                                 |                                    
 Item                                                     |     NAICS     |    2021    2018    2019    2020    2021 |     2018     2019     2020     2021
                                                          |               |    Ave.      Q4      Q4      Q4      Q4 |       Q4       Q4       Q4       Q4
 --------------------------------------------------------------------------------------------------------------------------------------------------------
  Total industry                                          |               |   79.6    80.0    77.5    74.6    78.8  |      .6       .9      1.2      2.4 
                                                          |               |                                         |
  Manufacturing<1>                                        |               |   78.2    78.2    76.4    75.0    78.6  |      .7      1.0      1.0      1.5 
     Manufacturing (NAICS)                                |        31-33  |   78.1    78.4    76.5    75.0    78.7  |      .7      1.0       .9      1.4 
                                                          |               |                                         |
        Durable manufacturing                             |               |   76.8    78.4    75.0    72.8    76.5  |      .8       .3      -.3       .1 
           Wood products                                  |          321  |   76.7    77.6    79.6    81.7    81.2  |    -2.1       .5      2.9       .7 
           Nonmetallic mineral products                   |          327  |   73.4    71.2    74.1    75.1    77.0  |     2.5      5.1      3.0      3.5 
           Primary metals                                 |          331  |   77.9    74.3    71.3    66.4    75.2  |     2.3      2.6      1.0      2.6 
           Fabricated metal products                      |          332  |   77.6    82.0    78.2    72.6    77.7  |     1.4       .4     -1.4      -.8 
           Machinery                                      |          333  |   77.8    82.5    77.7    73.9    82.4  |     2.2      2.2     -2.3      -.1 
           Computer and electronic products               |          334  |   77.3    75.3    73.7    73.3    75.4  |      .7      1.7      -.2      -.9 
           Electrical equip., appliances,                 |               |                                         |
              and components                              |          335  |   81.5    76.3    73.8    75.4    80.9  |     -.3      -.4       .9      1.1 
           Motor vehicles and parts                       |       3361-3  |   75.0    79.0    72.4    73.0    70.3  |     -.1       .0      -.6       .8 
           Aerospace and miscellaneous                    |               |                                         |
              transportation equipment                    |       3364-9  |   73.9    74.5    69.9    63.6    68.2  |    -1.1     -7.2     -2.6     -4.5 
           Furniture and related products                 |          337  |   77.3    88.2    82.5    76.1    79.9  |     5.7      1.2     -3.5     -3.0 
           Miscellaneous                                  |          339  |   76.8    82.9    79.8    82.0    86.2  |     -.3      1.7      4.5      5.8 
                                                          |               |                                         |
        Nondurable manufacturing                          |               |   80.0    78.4    78.3    77.7    81.1  |      .5      1.7      2.2      2.8 
           Food, beverage, and tobacco products           |        311,2  |   80.3    76.1    77.6    80.0    79.3  |     -.3       .8      3.6      3.4 
           Textile and product mills                      |        313,4  |   78.4    73.1    71.5    69.6    73.5  |     1.4      2.4      4.4      4.8 
           Apparel and leather                            |        315,6  |   75.8    70.2    73.2    69.5    74.5  |     1.8       .1     -5.1     -5.4 
           Paper                                          |          322  |   86.6    87.8    87.8    85.6    86.1  |     -.9      1.2      1.6      3.6 
           Printing and support                           |          323  |   79.4    73.9    76.4    72.7    77.6  |    -1.0       .4      1.2       .0 
           Petroleum and coal products                    |          324  |   85.4    90.6    84.7    70.6    86.1  |     7.5      6.2       .6      8.2 
           Chemicals                                      |          325  |   76.6    74.2    75.1    75.0    80.6  |      .0      2.0      1.1      1.3 
           Plastics and rubber products                   |          326  |   82.1    86.5    83.2    83.0    85.5  |      .2       .9      1.6      2.3 
                                                          |               |                                         |
     Other manufacturing (non-NAICS)                      |    1133,5111  |   79.5    70.4    72.1    73.6    74.2  |     -.4      3.0      6.9      6.5 
                                                          |               |                                         |
  Mining                                                  |           21  |   86.3    90.4    84.5    71.7    85.8  |     1.0       .8      2.1      8.4 
  Utilities                                               |       2211,2  |   84.7    80.6    78.1    74.3    72.3  |     -.1       .0       .8       .9 
                                                          |               |                                         |
  Selected high-technology industries                     |               |   77.5    78.2    76.2    79.2    81.7  |     1.6      2.6      1.3      3.5 
     Computers and peripheral equipment                   |         3341  |   77.7    75.6    70.2    77.4    93.3  |     -.2      1.8     -4.5      5.4 
     Communications equipment                             |         3342  |   75.6    69.0    67.5    64.3    65.1  |     5.9      6.0      -.6      -.2 
     Semiconductors and related                           |               |                                         |
           electronic components                          |         3344  |   79.1    82.8    80.9    85.7    86.6  |     -.6       .4      1.3      3.8 
                                                          |               |                                         |
  Measures excluding selected high-technology             |               |                                         |
        industries                                        |               |                                         |
  Total industry                                          |               |   79.7    80.1    77.6    74.5    78.7  |      .6       .9      1.2      2.4 
     Manufacturing<1>                                     |               |   78.2    78.2    76.4    74.9    78.5  |      .6      1.0      1.0      1.5 
                                                          |               |                                         |
  Stage-of-process groups                                 |               |                                         |
  Crude                                                   |               |   85.5    88.7    83.9    74.2    84.8  |      .6      1.1      1.8      7.0 
  Primary and semifinished                                |               |   80.1    80.2    77.4    74.6    77.6  |     1.0      1.4      1.2      2.2 
  Finished                                                |               |   76.7    76.0    75.2    74.7    77.5  |      .1       .2       .8       .4 
 --------------------------------------------------------------------------------------------------------------------------------------------------------
 1.  See footnote 2 to table 2.
 
 
 

 Table 7A
 Industrial Production: Manufacturing <1>
 Seasonally adjusted
 
 
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
                 |   Jan.   Feb.   Mar.   Apr.    May   June   July   Aug.  Sept.   Oct.   Nov.   Dec.|     Q1     Q2     Q3     Q4|Annual <2>
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
 IP (percent     |                                                                                    |                            |
 change)         |                                                                                    |                            |
  1992           |   -.6     .9    1.0     .5     .6     .3     .9    -.5     .1     .6     .4     .0 |    .6    8.3    4.1    3.0 |      3.7 
  1993           |    .9     .3    -.2     .5    -.1    -.1     .2    -.2     .7     .8     .5     .6 |   4.8    1.3     .7    7.3 |      3.5 
                 |                                                                                    |                            |
  1994           |    .1     .2    1.3     .9     .6     .3     .4     .9     .4     .9     .8    1.1 |   4.9    9.5    6.0   10.0 |      5.9 
  1995           |    .2    -.2     .3    -.3     .4     .5    -.7    1.2     .9    -.1     .1     .3 |   4.4     .7    3.3    4.2 |      5.1 
  1996           |   -.6    1.4    -.2    1.2     .8     .9     .4     .4     .8    -.1     .9     .9 |   1.9   10.0    7.8    5.9 |      4.9 
  1997           |    .1    1.4    1.0    -.1     .7     .6     .8    1.2     .9     .9    1.0     .5 |   9.3    7.0   10.7   11.5 |      8.4 
  1998           |    .8     .2    -.2     .5     .5    -.7    -.4    2.4    -.1     .9     .1     .6 |   6.2    2.1    3.3    7.8 |      6.7 
                 |                                                                                    |                            |
  1999           |    .3     .9     .0     .4     .8    -.2     .4     .6    -.4    1.5     .7     .7 |   5.2    4.4    3.3    8.7 |      5.1 
  2000           |    .0     .3     .6     .6     .0     .2     .1    -.7     .5    -.4    -.3    -.6 |   4.5    4.9    -.4   -2.7 |      4.1 
  2001           |   -.5    -.7    -.2    -.4    -.6    -.6    -.5    -.5    -.4    -.4    -.4     .2 |  -5.9   -5.3   -5.9   -4.0 |     -3.7 
  2002           |    .6     .0     .7     .3     .5    1.0    -.1     .1     .1    -.3     .5    -.6 |   3.6    5.8    3.2    -.4 |       .4 
  2003           |    .8    -.1     .1    -.8     .0     .5     .3    -.5     .9     .1     .9     .0 |   2.1   -2.3    2.5    4.4 |      1.3 
                 |                                                                                    |                            |
  2004           |   -.1     .8     .0     .4     .7    -.7     .9     .5     .0     .9     .0     .8 |   2.7    3.3    4.0    5.4 |      3.1 
  2005           |    .6     .9    -.5     .4     .3     .2    -.3     .5   -1.1    1.4     .9     .1 |   6.4    2.6    -.5    6.1 |      4.1 
  2006           |    .8    -.3     .0     .4    -.3     .3    -.3     .7     .0    -.5     .1    1.5 |   4.0     .8     .9    1.5 |      2.6 
  2007           |   -.4     .3     .8     .6     .0     .3     .0    -.3     .3    -.2     .5     .1 |   4.6    5.7     .5    1.3 |      2.8 
  2008           |   -.2    -.7    -.5   -1.0    -.6    -.7   -1.0   -1.3   -3.4    -.7   -2.5   -3.3 |  -2.5   -8.3  -13.7  -22.0 |     -4.8 
                 |                                                                                    |                            |
  2009           |  -3.2    -.1   -1.8    -.7   -1.1    -.2    1.6    1.1    1.0     .0    1.0    -.1 | -24.7  -10.4    8.7    7.0 |    -13.8 
  2010           |   1.0    -.1    1.3     .8    1.3     .0     .5     .1     .1     .1     .1     .5 |   6.9   10.5    4.3    1.5 |      5.9 
  2011           |    .1     .2     .6    -.6     .0     .1     .6     .5     .3     .5    -.2     .6 |   3.0    -.2    4.4    3.9 |      2.9 
  2012           |    .9     .4    -.5     .5    -.3     .2    -.2    -.1    -.2    -.2     .6     .7 |   5.4     .5   -1.2    1.1 |      2.6 
  2013           |   -.3     .4    -.1    -.3     .3     .1    -.8     .9     .1     .1     .0    -.2 |   2.7     .1     .1    1.6 |       .9 
                 |                                                                                    |                            |
  2014           |  -1.1     .9     .9     .0     .3     .3     .5    -.6     .0    -.1     .7    -.2 |  -1.1    4.7    1.7     .1 |      1.1 
  2015           |   -.6    -.7     .4     .0     .0    -.4     .8    -.4    -.3    -.1    -.3    -.3 |  -3.4    -.7     .7   -2.8 |      -.5 
  2016           |    .4    -.3    -.1    -.2    -.1     .2     .1    -.4     .2     .2    -.1     .0 |   -.5   -1.2     .1     .3 |      -.8 
  2017           |    .2     .0    -.3    1.1    -.2     .0    -.3    -.2     .0    1.1     .0    -.3 |    .1    3.2   -1.9    3.8 |       .6 
  2018           |   -.4    1.0     .1     .7    -.9     .6     .1     .3     .0    -.4    -.4     .1 |    .4    2.8    1.6   -2.2 |      1.3 
                 |                                                                                    |                            |
  2019           |   -.8    -.4    -.1    -.6     .1     .3    -.6     .7    -.7    -.8     .7    -.1 |  -4.6   -2.7    -.8   -2.4 |     -2.0 
  2020           |   -.1     .3   -4.3  -15.3    4.3    7.4    3.6    1.6     .1    1.1     .5     .3 |  -4.6  -43.3   53.2    8.7 |     -6.3 
  2021           |   1.6   -3.5    3.1    -.1     .9    -.1    1.1    -.2    -.7    1.7     .5    -.1 |   2.4    5.1    3.6    5.8 |      5.7 
  2022           |   -.2    1.3     .8     .9    -.2                                                  |   4.1                      |          
                 |                                                                                    |                            |
 IP (2017=100)   |                                                                                    |                            |
  1992           |  61.5   62.0   62.7   63.0   63.4   63.6   64.1   63.8   63.9   64.3   64.5   64.5 |  62.1   63.3   64.0   64.4 |     63.4 
  1993           |  65.1   65.3   65.2   65.5   65.4   65.3   65.4   65.3   65.8   66.3   66.6   67.0 |  65.2   65.4   65.5   66.7 |     65.7 
                 |                                                                                    |                            |
  1994           |  67.1   67.2   68.1   68.7   69.1   69.3   69.5   70.1   70.4   71.1   71.7   72.4 |  67.5   69.0   70.0   71.7 |     69.6 
  1995           |  72.6   72.4   72.6   72.4   72.6   73.0   72.5   73.3   74.0   73.9   73.9   74.2 |  72.5   72.6   73.2   74.0 |     73.1 
  1996           |  73.7   74.8   74.6   75.5   76.1   76.8   77.1   77.5   78.1   78.0   78.7   79.4 |  74.4   76.1   77.6   78.7 |     76.7 
  1997           |  79.5   80.6   81.4   81.3   81.9   82.4   83.0   84.0   84.8   85.6   86.4   86.9 |  80.5   81.9   84.0   86.3 |     83.1 
  1998           |  87.5   87.7   87.5   88.0   88.4   87.8   87.4   89.5   89.4   90.2   90.3   90.8 |  87.6   88.0   88.8   90.4 |     88.7 
                 |                                                                                    |                            |
  1999           |  91.1   91.9   91.9   92.2   92.9   92.7   93.1   93.7   93.3   94.7   95.3   96.0 |  91.6   92.6   93.3   95.3 |     93.2 
  2000           |  96.0   96.2   96.9   97.5   97.5   97.6   97.7   97.1   97.5   97.1   96.9   96.3 |  96.4   97.5   97.4   96.8 |     97.0 
  2001           |  95.8   95.2   94.9   94.6   94.0   93.5   93.0   92.6   92.2   91.8   91.5   91.7 |  95.3   94.0   92.6   91.7 |     93.4 
  2002           |  92.3   92.3   92.9   93.2   93.7   94.6   94.5   94.5   94.6   94.3   94.8   94.2 |  92.5   93.8   94.5   94.4 |     93.8 
  2003           |  95.0   94.9   94.9   94.2   94.3   94.7   95.0   94.5   95.3   95.4   96.3   96.2 |  94.9   94.4   95.0   96.0 |     95.1 
                 |                                                                                    |                            |
  2004           |  96.1   96.9   96.8   97.2   97.8   97.2   98.1   98.5   98.5   99.4   99.4  100.2 |  96.6   97.4   98.4   99.7 |     98.0 
  2005           | 100.8  101.7  101.2  101.6  101.9  102.1  101.8  102.3  101.2  102.6  103.5  103.6 | 101.2  101.9  101.7  103.3 |    102.0 
  2006           | 104.5  104.2  104.2  104.6  104.3  104.6  104.2  104.9  105.0  104.5  104.6  106.1 | 104.3  104.5  104.7  105.1 |    104.6 
  2007           | 105.7  106.1  107.0  107.7  107.6  108.0  108.0  107.7  108.0  107.8  108.4  108.5 | 106.3  107.7  107.9  108.2 |    107.5 
  2008           | 108.2  107.5  106.9  105.9  105.3  104.6  103.5  102.2   98.7   98.0   95.6   92.4 | 107.5  105.2  101.4   95.3 |    102.4 
                 |                                                                                    |                            |
  2009           |  89.4   89.3   87.7   87.1   86.2   86.0   87.3   88.2   89.1   89.2   90.1   90.0 |  88.8   86.4   88.2   89.7 |     88.3 
  2010           |  90.9   90.8   92.0   92.7   93.9   93.9   94.4   94.5   94.6   94.6   94.7   95.2 |  91.2   93.5   94.5   94.9 |     93.5 
  2011           |  95.2   95.4   96.0   95.5   95.5   95.6   96.1   96.6   96.9   97.4   97.2   97.8 |  95.6   95.5   96.5   97.5 |     96.3 
  2012           |  98.7   99.1   98.5   99.0   98.7   98.9   98.7   98.6   98.4   98.2   98.8   99.5 |  98.7   98.9   98.6   98.8 |     98.7 
  2013           |  99.2   99.7   99.6   99.3   99.6   99.7   98.9   99.8   99.9  100.0  100.0   99.8 |  99.5   99.5   99.5   99.9 |     99.6 
                 |                                                                                    |                            |
  2014           |  98.8   99.7  100.5  100.5  100.8  101.1  101.6  101.0  101.0  100.9  101.6  101.4 |  99.7  100.8  101.2  101.3 |    100.7 
  2015           | 100.8  100.0  100.4  100.4  100.4  100.0  100.8  100.4  100.1  100.0   99.7   99.4 | 100.4  100.2  100.4   99.7 |    100.2 
  2016           |  99.8   99.5   99.4   99.3   99.2   99.4   99.5   99.1   99.3   99.5   99.4   99.3 |  99.6   99.3   99.3   99.4 |     99.4 
  2017           |  99.5   99.5   99.2  100.3  100.1  100.2   99.9   99.6   99.7  100.8  100.8  100.5 |  99.4  100.2   99.7  100.7 |    100.0 
  2018           | 100.1  101.1  101.1  101.8  101.0  101.5  101.7  102.0  101.9  101.5  101.1  101.2 | 100.8  101.4  101.9  101.3 |    101.3 
                 |                                                                                    |                            |
  2019           | 100.4  100.0   99.9   99.3   99.3   99.7   99.1   99.7   99.0   98.2   98.9   98.8 | 100.1   99.4   99.2   98.6 |     99.4 
  2020           |  98.7   99.0   94.7   80.2   83.7   89.9   93.1   94.6   94.7   95.7   96.2   96.5 |  97.5   84.6   94.1   96.1 |     93.1 
  2021           |  98.0   94.6   97.5   97.3   98.2   98.1   99.2   98.9   98.2   99.8  100.4  100.3 |  96.7   97.9   98.8  100.1 |     98.4 
  2022           | 100.0  101.3  102.1  103.0  102.8                                                  | 101.1                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from January 2022 through May 2022 are subject to further revision in the upcoming monthly releases.
 <1> See footnote 2 to table 2.
 <2> Annual averages of industrial production are calculated from not seasonally adjusted indexes.
 
 
 

 Table 7B
 Capacity and Utilization: Manufacturing <1>
 Seasonally adjusted
 
 
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
                 |   Jan.   Feb.   Mar.   Apr.    May   June   July   Aug.  Sept.   Oct.   Nov.   Dec.|     Q1     Q2     Q3     Q4|    Annual
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
 Capacity        |                                                                                    |                            |
 (percent of     |                                                                                    |                            |
 2017 output)    |                                                                                    |                            |
  1992           |  78.5   78.7   78.9   79.0   79.2   79.4   79.7   79.9   80.1   80.2   80.4   80.6 |  78.7   79.2   79.9   80.4 |     79.6 
  1993           |  80.8   80.9   81.1   81.2   81.3   81.4   81.6   81.7   81.9   82.0   82.2   82.4 |  80.9   81.3   81.7   82.2 |     81.5 
                 |                                                                                    |                            |
  1994           |  82.6   82.8   83.0   83.2   83.5   83.8   84.0   84.3   84.6   84.9   85.3   85.6 |  82.8   83.5   84.3   85.3 |     84.0 
  1995           |  85.9   86.2   86.6   86.9   87.3   87.7   88.0   88.4   88.9   89.3   89.7   90.2 |  86.2   87.3   88.4   89.7 |     87.9 
  1996           |  90.7   91.2   91.7   92.2   92.7   93.2   93.7   94.2   94.7   95.2   95.7   96.3 |  91.2   92.7   94.2   95.8 |     93.4 
  1997           |  96.8   97.4   97.9   98.5   99.1   99.7  100.3  101.0  101.7  102.4  103.2  104.0 |  97.4   99.1  101.0  103.2 |    100.2 
  1998           | 104.7  105.5  106.3  107.1  107.8  108.6  109.2  109.9  110.5  111.2  111.8  112.3 | 105.5  107.8  109.9  111.8 |    108.7 
                 |                                                                                    |                            |
  1999           | 112.9  113.5  114.0  114.5  115.0  115.5  116.0  116.5  117.0  117.5  118.0  118.5 | 113.5  115.0  116.5  118.0 |    115.7 
  2000           | 119.0  119.4  119.9  120.4  120.9  121.4  121.9  122.4  122.8  123.3  123.8  124.2 | 119.4  120.9  122.4  123.8 |    121.6 
  2001           | 124.7  125.1  125.5  125.9  126.3  126.6  126.9  127.2  127.4  127.7  127.8  128.0 | 125.1  126.3  127.2  127.8 |    126.6 
  2002           | 128.1  128.3  128.4  128.4  128.5  128.5  128.5  128.5  128.5  128.5  128.5  128.5 | 128.3  128.5  128.5  128.5 |    128.4 
  2003           | 128.5  128.5  128.5  128.5  128.4  128.4  128.4  128.3  128.3  128.3  128.2  128.2 | 128.5  128.4  128.3  128.2 |    128.4 
                 |                                                                                    |                            |
  2004           | 128.1  128.1  128.0  128.0  127.9  127.9  127.9  128.0  128.0  128.1  128.2  128.3 | 128.1  127.9  128.0  128.2 |    128.0 
  2005           | 128.5  128.7  128.9  129.1  129.4  129.7  129.9  130.2  130.5  130.7  131.0  131.2 | 128.7  129.4  130.2  131.0 |    129.8 
  2006           | 131.4  131.7  131.9  132.1  132.3  132.5  132.8  133.0  133.3  133.6  133.9  134.2 | 131.7  132.3  133.0  133.9 |    132.7 
  2007           | 134.5  134.9  135.2  135.6  135.9  136.3  136.6  136.9  137.2  137.4  137.6  137.7 | 134.9  135.9  136.9  137.6 |    136.3 
  2008           | 137.8  137.8  137.8  137.7  137.6  137.5  137.4  137.2  137.0  136.9  136.7  136.5 | 137.8  137.6  137.2  136.7 |    137.3 
                 |                                                                                    |                            |
  2009           | 136.4  136.2  136.0  135.8  135.6  135.5  135.3  135.1  135.0  134.8  134.6  134.4 | 136.2  135.6  135.1  134.6 |    135.4 
  2010           | 134.3  134.1  133.9  133.7  133.4  133.2  133.0  132.8  132.6  132.3  132.2  132.0 | 134.1  133.4  132.8  132.2 |    133.1 
  2011           | 131.8  131.7  131.6  131.5  131.4  131.4  131.4  131.5  131.6  131.7  131.8  131.9 | 131.7  131.5  131.5  131.8 |    131.6 
  2012           | 132.0  132.2  132.3  132.5  132.6  132.8  132.9  133.1  133.2  133.3  133.4  133.5 | 132.2  132.6  133.1  133.4 |    132.8 
  2013           | 133.6  133.7  133.8  133.8  133.8  133.8  133.8  133.8  133.8  133.7  133.7  133.6 | 133.7  133.8  133.8  133.7 |    133.8 
                 |                                                                                    |                            |
  2014           | 133.6  133.5  133.4  133.3  133.2  133.1  133.0  132.8  132.7  132.6  132.4  132.3 | 133.5  133.2  132.8  132.4 |    133.0 
  2015           | 132.1  132.0  131.8  131.7  131.6  131.5  131.5  131.4  131.4  131.4  131.4  131.5 | 132.0  131.6  131.4  131.4 |    131.6 
  2016           | 131.5  131.6  131.7  131.8  131.8  131.9  132.0  132.0  132.1  132.1  132.0  132.0 | 131.6  131.8  132.0  132.0 |    131.9 
  2017           | 131.9  131.8  131.7  131.6  131.4  131.3  131.1  130.9  130.7  130.6  130.4  130.3 | 131.8  131.4  130.9  130.4 |    131.2 
  2018           | 130.2  130.1  130.0  129.9  129.8  129.8  129.7  129.7  129.6  129.6  129.6  129.5 | 130.1  129.8  129.7  129.6 |    129.8 
                 |                                                                                    |                            |
  2019           | 129.5  129.5  129.4  129.4  129.3  129.3  129.3  129.2  129.2  129.1  129.1  129.0 | 129.5  129.3  129.2  129.1 |    129.3 
  2020           | 129.0  129.0  128.9  128.8  128.8  128.7  128.6  128.5  128.4  128.2  128.1  128.0 | 129.0  128.8  128.5  128.1 |    128.6 
  2021           | 127.9  127.8  127.7  127.6  127.5  127.4  127.4  127.4  127.4  127.4  127.5  127.5 | 127.8  127.5  127.4  127.5 |    127.5 
  2022           | 127.6  127.7  127.8  127.9  128.1                                                  | 127.7                      |          
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1992           |  78.3   78.8   79.5   79.7   80.0   80.0   80.5   79.9   79.8   80.1   80.2   80.0 |  78.9   79.9   80.1   80.1 |     79.7 
  1993           |  80.6   80.7   80.4   80.6   80.4   80.2   80.2   79.9   80.3   80.9   81.1   81.4 |  80.6   80.4   80.2   81.1 |     80.6 
                 |                                                                                    |                            |
  1994           |  81.3   81.2   82.0   82.5   82.8   82.7   82.8   83.2   83.2   83.7   84.1   84.7 |  81.5   82.7   83.1   84.1 |     82.8 
  1995           |  84.5   84.0   83.9   83.2   83.2   83.2   82.3   82.9   83.2   82.7   82.4   82.2 |  84.1   83.2   82.8   82.5 |     83.1 
  1996           |  81.3   82.0   81.4   81.9   82.1   82.4   82.3   82.3   82.5   81.9   82.2   82.5 |  81.6   82.2   82.4   82.2 |     82.1 
  1997           |  82.1   82.8   83.1   82.5   82.6   82.6   82.7   83.2   83.4   83.5   83.7   83.6 |  82.7   82.6   83.1   83.6 |     83.0 
  1998           |  83.6   83.1   82.4   82.2   82.0   80.8   80.0   81.4   80.9   81.1   80.8   80.9 |  83.0   81.7   80.8   80.9 |     81.6 
                 |                                                                                    |                            |
  1999           |  80.7   81.0   80.6   80.5   80.8   80.2   80.2   80.4   79.7   80.6   80.8   81.0 |  80.7   80.5   80.1   80.8 |     80.5 
  2000           |  80.7   80.6   80.8   80.9   80.6   80.4   80.2   79.3   79.4   78.8   78.3   77.5 |  80.7   80.7   79.6   78.2 |     79.8 
  2001           |  76.9   76.1   75.6   75.1   74.5   73.8   73.3   72.8   72.4   71.9   71.6   71.6 |  76.2   74.5   72.8   71.7 |     73.8 
  2002           |  72.0   71.9   72.4   72.6   72.9   73.6   73.5   73.6   73.6   73.4   73.7   73.3 |  72.1   73.0   73.6   73.5 |     73.0 
  2003           |  73.9   73.8   73.9   73.3   73.4   73.7   74.0   73.7   74.3   74.4   75.1   75.1 |  73.9   73.5   74.0   74.9 |     74.1 
                 |                                                                                    |                            |
  2004           |  75.0   75.6   75.6   75.9   76.5   76.0   76.7   77.0   77.0   77.6   77.5   78.0 |  75.4   76.1   76.9   77.7 |     76.5 
  2005           |  78.4   79.0   78.5   78.7   78.8   78.7   78.3   78.6   77.6   78.5   79.0   79.0 |  78.6   78.7   78.1   78.8 |     78.6 
  2006           |  79.5   79.1   79.0   79.2   78.8   78.9   78.5   78.9   78.8   78.2   78.1   79.1 |  79.2   79.0   78.7   78.5 |     78.8 
  2007           |  78.6   78.7   79.1   79.4   79.2   79.2   79.0   78.6   78.7   78.5   78.8   78.8 |  78.8   79.3   78.8   78.7 |     78.9 
  2008           |  78.6   78.0   77.6   76.9   76.5   76.1   75.3   74.5   72.0   71.6   69.9   67.7 |  78.1   76.5   73.9   69.7 |     74.6 
                 |                                                                                    |                            |
  2009           |  65.6   65.6   64.5   64.1   63.5   63.4   64.5   65.3   66.0   66.1   66.9   66.9 |  65.2   63.7   65.3   66.6 |     65.2 
  2010           |  67.7   67.7   68.7   69.4   70.4   70.5   71.0   71.2   71.4   71.5   71.7   72.1 |  68.0   70.1   71.2   71.8 |     70.3 
  2011           |  72.3   72.5   73.0   72.6   72.6   72.7   73.1   73.5   73.6   74.0   73.8   74.2 |  72.6   72.6   73.4   74.0 |     73.1 
  2012           |  74.7   74.9   74.4   74.7   74.4   74.5   74.3   74.1   73.8   73.6   74.0   74.5 |  74.7   74.5   74.1   74.1 |     74.3 
  2013           |  74.3   74.5   74.4   74.2   74.4   74.5   73.9   74.6   74.7   74.8   74.8   74.7 |  74.4   74.4   74.4   74.8 |     74.5 
                 |                                                                                    |                            |
  2014           |  73.9   74.7   75.4   75.4   75.7   76.0   76.4   76.0   76.1   76.1   76.7   76.6 |  74.7   75.7   76.2   76.5 |     75.8 
  2015           |  76.3   75.8   76.1   76.2   76.3   76.0   76.6   76.4   76.2   76.1   75.9   75.6 |  76.1   76.2   76.4   75.9 |     76.1 
  2016           |  75.9   75.6   75.5   75.3   75.2   75.3   75.4   75.1   75.2   75.3   75.2   75.2 |  75.7   75.3   75.2   75.3 |     75.4 
  2017           |  75.4   75.5   75.3   76.2   76.2   76.3   76.2   76.1   76.2   77.2   77.2   77.1 |  75.4   76.2   76.2   77.2 |     76.2 
  2018           |  76.9   77.7   77.8   78.4   77.8   78.3   78.4   78.6   78.6   78.3   78.0   78.1 |  77.5   78.1   78.5   78.2 |     78.1 
                 |                                                                                    |                            |
  2019           |  77.5   77.2   77.2   76.7   76.8   77.1   76.6   77.2   76.6   76.1   76.6   76.5 |  77.3   76.9   76.8   76.4 |     76.9 
  2020           |  76.5   76.8   73.5   62.3   65.0   69.8   72.4   73.6   73.7   74.6   75.1   75.4 |  75.6   65.7   73.3   75.0 |     72.4 
  2021           |  76.6   74.0   76.4   76.3   77.0   77.0   77.8   77.7   77.1   78.3   78.7   78.6 |  75.7   76.8   77.5   78.6 |     77.1 
  2022           |  78.4   79.3   79.9   80.5   80.3                                                  |  79.2                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from January 2022 through May 2022 are subject to further revision in the upcoming monthly releases.
 <1> See footnote 2 to table 2.
 
 
 

 Table 8
 Annual Proportions in Industrial Production, Market and Industry Group Summary
 
 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 Item                                                       |         NAICS |       2014        2015        2016        2017        2018        2019        2020        2021 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                            |               |
  Total IP                                                  |               |      100.0       100.0       100.0       100.0       100.0       100.0       100.0       100.0 
                                                            |               |
  MARKET GROUP                                              |               |
  Final products and nonindustrial supplies                 |               |       52.7        55.9        56.9        56.1        55.4        56.1        56.0        53.2 
     Consumer goods                                         |               |       24.9        27.3        28.4        27.7        27.2        27.8        28.5        26.9 
        Durable                                             |               |        5.5         6.2         6.5         6.2         6.1         6.3         6.4         6.2 
           Automotive products                              |               |        2.9         3.4         3.6         3.5         3.4         3.5         3.5         3.4 
           Home electronics                                 |               |         .2          .2          .2          .1          .1          .1          .2          .1 
           Appliances, furniture, carpeting                 |               |         .8          .9          .9          .9          .9          .9         1.0         1.0 
           Miscellaneous goods                              |               |        1.6         1.7         1.8         1.6         1.6         1.7         1.7         1.7 
        Nondurable                                          |               |       19.5        21.2        21.9        21.5        21.1        21.5        22.1        20.7 
           Non-energy                                       |               |       14.9        16.5        17.0        16.2        15.7        16.7        17.6        15.9 
              Foods and tobacco                             |               |        8.6         9.4         9.8         9.5         9.2         9.7        10.4         9.5 
              Clothing                                      |               |         .2          .2          .2          .2          .2          .2          .2          .2 
              Chemical products                             |               |        4.7         5.4         5.5         5.2         5.0         5.4         5.6         5.1 
              Paper products                                |               |         .9         1.0         1.0          .9          .9          .9          .9          .8 
           Energy                                           |               |        4.6         4.6         4.9         5.3         5.3         4.8         4.6         4.8 
                                                            |               |
     Business equipment                                     |               |        9.9        10.2        10.0        10.1        10.1         9.7         8.8         8.4 
        Transit                                             |               |        2.5         2.8         2.8         3.0         2.9         2.3         1.7         1.8 
        Information processing                              |               |        2.0         2.2         2.1         2.1         2.0         2.1         2.1         1.8 
        Industrial and other                                |               |        5.3         5.3         5.1         5.1         5.1         5.2         5.0         4.8 
     Defense and space equipment                            |               |        2.2         2.2         2.2         2.3         2.1         2.3         2.3         2.1 
                                                            |               |
     Construction supplies                                  |               |        4.0         4.4         4.6         4.6         4.6         4.8         5.1         5.2 
     Business supplies                                      |               |       10.5        10.9        11.1        10.8        10.7        10.8        10.7        10.1 
                                                            |               |
  Materials                                                 |               |       47.3        44.1        43.1        43.9        44.6        43.9        44.0        46.8 
     Non-energy                                             |               |       26.9        28.0        28.3        27.7        27.3        27.7        28.0        27.7 
        Durable                                             |               |       16.6        17.2        17.2        16.9        16.7        17.1        16.8        16.7 
           Consumer parts                                   |               |        3.0         3.2         3.2         3.1         3.0         2.9         2.6         2.7 
           Equipment parts                                  |               |        5.3         5.3         5.1         5.0         4.9         5.1         4.9         4.5 
           Other                                            |               |        8.4         8.7         8.9         8.8         8.8         9.0         9.4         9.4 
        Nondurable                                          |               |       10.3        10.8        11.1        10.8        10.6        10.6        11.1        11.1 
           Textile                                          |               |         .4          .4          .4          .4          .4          .4          .4          .4 
           Paper                                            |               |        1.8         1.9         1.9         1.8         1.7         1.8         1.7         1.6 
           Chemical                                         |               |        5.0         5.2         5.4         5.4         5.3         5.1         5.4         5.6 
     Energy                                                 |               |       20.4        16.0        14.8        16.2        17.3        16.2        16.1        19.0 
                                                            |               |
                                                            |               |
  INDUSTRY GROUP                                            |               |
  Manufacturing                                             |               |       72.6        77.1        78.4        77.0        75.8        76.5        76.7        74.3 
     Manufacturing (NAICS)                                  |        31-33  |       70.3        74.7        76.0        74.7        73.7        74.5        74.7        72.6 
                                                            |               |
        Durable manufacturing                               |               |       37.7        39.6        39.7        39.1        38.7        39.0        38.2        37.3 
           Wood products                                    |          321  |        1.2         1.3         1.4         1.4         1.4         1.5         1.9         2.0 
           Nonmetallic mineral products                     |          327  |        1.9         2.1         2.2         2.1         2.1         2.2         2.3         2.1 
           Primary metals                                   |          331  |        2.6         2.5         2.6         2.6         2.6         2.4         2.6         3.3 
           Fabricated metal products                        |          332  |        5.6         5.8         5.8         5.7         5.8         6.0         6.0         5.8 
           Machinery                                        |          333  |        5.8         5.7         5.4         5.4         5.5         5.6         5.3         5.2 
           Computer and electronic products                 |          334  |        5.1         5.2         5.2         5.1         5.0         5.2         5.3         4.7 
           Electrical equip., appliances,                   |               |
              and components                                |          335  |        1.8         1.9         1.9         1.8         1.8         1.9         2.0         1.9 
           Motor vehicles and parts                         |       3361-3  |        5.1         5.9         6.1         5.8         5.7         5.8         5.3         5.0 
           Aerospace and miscellaneous                      |               |
              transportation equipment                      |       3364-9  |        4.8         5.0         4.8         5.1         4.8         4.4         3.7         3.7 
           Furniture and related products                   |          337  |        1.1         1.2         1.3         1.2         1.2         1.2         1.2         1.1 
           Miscellaneous                                    |          339  |        2.8         3.0         3.1         2.8         2.8         2.8         2.7         2.6 
                                                            |               |
        Nondurable manufacturing                            |               |       32.6        35.1        36.3        35.6        35.0        35.4        36.4        35.3 
           Food, beverage, and tobacco products             |        311,2  |       10.6        11.7        12.1        11.7        11.4        12.1        13.1        12.0 
           Textile and product mills                        |        313,4  |         .7          .7          .7          .7          .6          .7          .7          .6 
           Apparel and leather                              |        315,6  |         .2          .2          .2          .2          .2          .2          .2          .2 
           Paper                                            |          322  |        2.5         2.6         2.6         2.5         2.5         2.5         2.5         2.4 
           Printing and support                             |          323  |        1.4         1.5         1.5         1.5         1.4         1.4         1.3         1.1 
           Petroleum and coal products                      |          324  |        2.9         2.8         2.9         3.7         3.8         3.0         2.4         3.1 
           Chemicals                                        |          325  |       11.1        12.1        12.4        11.9        11.6        11.9        12.6        12.2 
           Plastics and rubber products                     |          326  |        3.2         3.5         3.7         3.5         3.6         3.6         3.7         3.6 
                                                            |               |
     Other manufacturing (non-NAICS)                        |    1133,5111  |        2.3         2.4         2.4         2.2         2.1         2.1         2.0         1.7 
                                                            |               |
  Mining                                                    |           21  |       17.3        12.1        10.4        12.2        13.4        12.4        12.1        15.5 
  Utilities                                                 |       2211,2  |       10.1        10.8        11.2        10.8        10.8        11.0        11.2        10.2 
     Electric                                               |         2211  |        8.9         9.5         9.7         9.3         9.3         9.6         9.7         8.7 
     Natural gas                                            |         2212  |        1.2         1.3         1.5         1.5         1.4         1.4         1.5         1.5 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 Note. The IP proportion data are estimates of the industries' relative contributions to the overall change in IP between the reference
       year and the following year.  For example, a 1 percent increase in durable goods manufacturing between 2021 and 2022 would
       account for a .373 percent increase in total IP.
 
 
 

 Table 9
 Industrial Production and Capacity Utilization:  SUMMARY
 Seasonally adjusted
 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |                             2017=100                              |                                   Percent change
                                    | ----------------------------------------------------------------- | -----------------------------------------------------------------------------------
                                    |      2021       2022                                              |      2021       2022                                              |     May '21 to 
 Industrial production              |   Dec.[r]    Jan.[r]    Feb.[r]    Mar.[r]    Apr.[r]     May[r]  |   Dec.[r]    Jan.[r]    Feb.[r]    Mar.[r]    Apr.[r]     May[r]  |      May '22 
 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |                                                                   |                                                                   |
  Total index                       |     101.8      102.2      103.0      103.7      105.1      105.2  |       -.2         .4         .8         .7        1.3         .1  |            5.4 
     Previous estimates             |     101.7      102.5      103.6      104.1      105.5      105.7  |       -.2         .8        1.0         .5        1.4         .2  |            5.8 
                                    |                                                                   |                                                                   |
  Major market groups               |                                                                   |                                                                   |
  Final Products                    |     101.8      102.8      103.6      104.0      105.4      105.5  |       -.1         .9         .7         .4        1.3         .1  |            5.2 
     Consumer goods                 |     102.6      104.2      104.4      104.5      105.9      105.8  |       -.3        1.5         .2         .2        1.3        -.1  |            3.5 
     Business equipment             |      94.2       93.6       95.5       96.7       97.7       97.9  |        .9        -.7        2.0        1.2        1.1         .2  |            7.7 
  Nonindustrial supplies            |     101.0      101.3      102.8      102.8      103.8      104.0  |       -.5         .3        1.4         .1         .9         .2  |            6.1 
     Construction                   |     105.0      103.7      105.8      105.1      105.6      105.6  |        .1       -1.2        2.0        -.6         .5         .0  |            6.2 
  Materials                         |     101.9      101.9      102.6      103.7      105.2      105.3  |       -.2         .0         .7        1.1        1.4         .1  |            5.4 
                                    |                                                                   |                                                                   |
  Major industry groups             |                                                                   |                                                                   |
  Manufacturing (see note below)    |     100.3      100.0      101.3      102.1      103.0      102.8  |       -.1        -.2        1.3         .8         .9        -.2  |            4.7 
     Previous estimates             |     100.4      100.3      101.6      102.4      103.2      103.1  |        .0        -.1        1.3         .8         .8        -.1  |            4.8 
                                    |                                                                   |                                                                   |
  Mining                            |     110.3      109.1      108.9      112.3      113.5      114.6  |        .1       -1.1        -.2        3.1        1.1         .9  |            7.6 
  Utilities                         |     100.4      108.3      107.5      103.1      108.3      109.3  |      -1.4        7.9        -.8       -4.1        5.1         .9  |            7.6 
 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  |                                                                                                                                             |    Capacity
                                  |                                                             Percent of capacity                                                             |     growth
                                  | ------------------------------------------------------------------------------------------------------------------------------------------- | ---------------
                                  |     Average       1988-       1990-       1994-       2008-             |                                                                   |                
                                  |       1972-          89          91          95          09       2021  |      2021       2022                                              |     May '21 to 
 Capacity utilization             |       2021         high         low        high         low        May  |   Dec.[r]    Jan.[r]    Feb.[r]    Mar.[r]    Apr.[r]     May[r]  |      May '22 
 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  |                                                                         |                                                                   |
  Total industry                  |       79.6        85.2        78.8        85.0        66.6        77.3  |      78.7       79.0       79.5       79.9       80.9       80.8  |             .8 
     Previous estimates           |       79.5        85.2        78.8        85.1        66.6        75.3  |      76.4       76.9       77.6       77.9       78.9       79.0  |             .8 
                                  |                                                                         |                                                                   |
  Manufacturing (see note below)  |       78.2        85.6        77.3        84.7        63.4        77.0  |      78.6       78.4       79.3       79.9       80.5       80.3  |             .4 
     Previous estimates           |       78.1        85.6        77.3        84.7        63.5        75.7  |      77.1       77.0       78.0       78.6       79.2       79.1  |             .3 
  Mining                          |       86.3        86.2        84.3        88.6        78.9        81.7  |      85.8       84.6       84.1       86.4       87.0       87.5  |             .6 
  Utilities                       |       84.7        92.9        84.5        92.9        78.0        73.7  |      71.8       77.3       76.5       73.2       76.7       77.3  |            2.6 
                                  |                                                                         |                                                                   |
  Stage-of-process groups         |                                                                         |                                                                   |
  Crude                           |       85.5        87.9        84.8        90.0        76.9        82.3  |      84.7       83.8       83.8       85.8       86.2       86.4  |             .2 
  Primary and semifinished        |       80.1        86.5        78.0        87.8        63.5        76.1  |      77.5       78.4       79.4       78.9       80.3       80.2  |             .5 
  Finished                        |       76.7        83.3        77.5        80.7        66.4        76.4  |      77.7       77.7       78.0       78.7       79.3       79.2  |            1.3 
 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 r  Revised.
 
 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 of its industrial output data from the SIC system to NAICS.
 
 
 
1
 Explanatory Note

 
 The Industrial Production and Capacity Utilization statistical
 release, which is published around the middle of the month, reports
 measures of output, capacity, and capacity utilization in
 manufacturing, mining, and the electric and gas utilities industries.
 More detailed descriptions of industrial production and capacity
 utilization are available on the Board's website at  www.federalreserve.gov/releases/G17. In addition, files containing
 data shown in the release, more detailed series that were published in
 the G.17 prior to December 2000, and historical data are available
 from the Data Download Program on the Board's website.  Instructions
 for searching for and downloading specific series are provided as
 well.
 
 Industrial Production
 
 Coverage. The industrial production (IP) index measures the real
 output of the manufacturing, mining, and electric and gas utilities
 industries; the reference period for the index is 2017.  Manufacturing
 consists of those industries included in the North American Industry
 Classification System, or NAICS, definition of manufacturing plus
 those industries-logging and newspaper, periodical, book, and
 directory publishing-that have traditionally been considered to be
 manufacturing and included in the industrial sector.  For the period
 since 2012, the total IP index has been constructed from 296
 individual series based on the 2017 NAICS codes. These individual
 series are classified in two ways: (1) market groups, and (2) industry
 groups.  Market groups consist of products and materials.  Total
 products are the aggregate of final products, such as consumer goods
 and equipment, and nonindustrial supplies (which are inputs to
 nonindustrial sectors).  Materials are inputs in the manufacture of
 products.  Major industry groups include three-digit NAICS industries
 and aggregates of these industries-for example, durable and
 nondurable manufacturing, mining, and utilities.  A complete
 description of the market and industry structures, including details
 regarding series classification, relative importance weights, and data
 sources, is available on the Board's website at 
 www.federalreserve.gov/releases/G17/About.htm.
 
 Source Data. On a monthly basis, the individual indexes of
 industrial production are constructed from two main types of source
 data: (1) output measured in physical units and (2) data on inputs to
 the production process, from which output is inferred.  Data on
 physical products, such as tons of steel or barrels of oil, are
 typically obtained from private trade associations and from government
 agencies; data of this type are used to estimate monthly IP wherever
 possible and appropriate.  Production indexes for a few industries are
 derived by dividing estimated nominal output (calculated using unit
 production and unit values or sales) by a corresponding Fisher price
 index; the most notable of these fall within the high-technology
 grouping and include semiconductors.  When suitable data on physical
 product are not available, estimates of output are based on
 production-worker hours by industry.  Data on hours worked by
 production workers are collected in the monthly establishment survey
 conducted by the Bureau of Labor Statistics.  The factors used to
 convert inputs into estimates of production are based on historical
 relationships between the inputs and the comprehensive annual data
 used to benchmark the IP indexes; these factors also may be influenced
 by technological or cyclical developments.  The annual data used in
 benchmarking the individual IP indexes are constructed from a variety
 of source data, such as the quinquennial Censuses of Manufactures
   and Mineral Industries and the Annual Survey of Manufactures,
 prepared by the Bureau of the Census; the Minerals Yearbook,
 prepared by the U.S. Geological Survey of the Department of the
 Interior; and publications of the Department of Energy.
 
 Aggregation Methodology and Weights.  The aggregation method for
 the IP index is a version of the Fisher-ideal index formula.  (For a detailed
 discussion of the aggregation method, see the Federal Reserve Bulletin
 February 1997 and March 2001.)  In the IP index, series that measure the
 output of an individual industry are combined using weights derived from
 their proportion in the total value-added output of all industries.  The IP
 index, which extends back to 1919, is built as a chain-type index since
 1972.  The current formula for the growth in monthly IP (or any of the
 sub-aggregates) since 1972 is the geometric mean of the change in output
 (I), and, as can be seen below, is computed using the unit value added
 estimate for the current month (p_m) and the estimate for previous month:
 
 %     Equation not available in ascii file.
 
 The IP proportions (typically shown in the first column of the relevant
 tables in the monthly G.17 release) are estimates of the industries' relative
 contributions to overall growth in the following year.  For example, the
 relative importance weight of the motor vehicles and parts industry is
 about 5 percent.  If output in this industry increased 10 percent in a month,
 then this gain would boost growth in total IP by 5/10 percentage point
 (0.05 x 10% = 0.5%).  To assist users with calculations, the Federal
 Reserve's website provides supplemental monthly statistics that represent
 the exact proportionate contribution of a monthly change in a component
 index to the monthly change in the total index (www.federalreserve.gov/
 releases/G17/ipdisk/ipweightssa.txt).
 
 Timing. The first estimate of output for a month is published
 around the 15th of the following month. The estimate is preliminary
 (denoted by the superscript "p" in tables) and subject to revision
 in each of the subsequent five months as new source data become
 available. (Revised estimates are denoted by the superscript "r" in
 tables.)  For the first estimate of output for a given month, about 74
 percent of the source data (in value-added terms) are available; the
 fraction of available source data increases to 83 percent for
 estimates in the second month that the estimate is published, 92
 percent in the third month, 94 percent in the fourth month, 96 percent
 in the fifth month, and 97 percent in the sixth month. Data
 availability by data type in 2021 is summarized in the table
 below:
 
   Availability of Monthly IP Data in Publication Window
   (Percent of value added in 2021; the numbers may not sum because of rounding.) 
     Type of data                1st  2nd  3rd  4th  5th  6th 
       Physical product            31   40   49   51   53   54
       Production-worker hours     43   43   43   43   43   43
       IP data received            74   83   92   94   96   97
       IP data estimated           26   17   8    6    4    3
 
 The physical product group includes series based on either monthly or
 quarterly data.  As can be seen in the first row of the table, in the
 first month, a physical product indicator is available for more than one-half
 of the series (in terms of value added) that ultimately are based on
 physical product data (31 percent out of a total of 54 percent).  Of
 the 31 percent, about three-quarters (26 percent of total IP) include
 series that are derived from weekly physical product data and for
 which actual monthly data may lag up to several months.  On average,
 quarterly product data are received for the fourth estimate of
 industrial production.  Specifically, quarterly data are available for
 the third estimate of the last month of a quarter, the fourth estimate
 of the second month of a quarter, and the fifth estimate of the first
 month of a quarter.
 
 Seasonal adjustment. Individual series are seasonally adjusted using
 Census X-13 ARIMA. For series based on production-worker hours, the
 current seasonal factors were estimated with data through January 2022;
 for other series, the factors were estimated with data through at least
 December 2021.  Series are pre-adjusted for the effects of holidays or the
 business cycle when appropriate.  For the data since 1972, all seasonally
 adjusted aggregate indexes are calculated by aggregating the seasonally
 adjusted indexes of the individual series.  Additional documentation and 
 X-13 specifications can be found on the Board's website at
 www.federalreserve.gov/releases/G17/About.htm.
 
 Reliability.  The average revision to the level of the
 total IP index, without regard to sign, between the first and the
 fourth estimates was 0.29 percent during the 1987-2021 period.  The
 average revision to the percent change in total IP, without
 regard to sign, from the first to the fourth estimates was 0.23
 percentage point during the 1987-2021 period.  In most cases (about
 86 percent), the direction of the change in output indicated by the
 first estimate for a given month is the same as that shown by the
 fourth estimate.
 
 Rounding.  The published percent changes are calculated from unrounded
 indexes, and may not be the same as percent changes calculated from the
 rounded indexes shown in the release.
 
 Capacity Utilization
 
 Overview.  The Federal Reserve Board constructs estimates of capacity
 and capacity utilization for industries in manufacturing, mining, and
 electric and gas utilities.  For a given industry, the capacity utilization rate
 is equal to an output index (seasonally adjusted) divided by a capacity
 index.  The Federal Reserve Board's capacity indexes attempt to capture
 the concept of sustainable maximum output-the greatest level of output a
 plant can maintain within the framework of a realistic work schedule, after
 factoring in normal downtime and assuming sufficient availability of
 inputs to operate the capital in place.
 
 Coverage.  Capacity indexes are constructed for 89 detailed industries
 (71 in manufacturing, 16 in mining, and 2 in utilities), which mostly
 correspond to industries at the three- and four-digit North American
 Industry Classification System, or NAICS level.
 Estimates of capacity and utilization are available for a variety of groups,
 including durable and nondurable manufacturing, total manufacturing,
 mining, utilities, and total industry.  Manufacturing consists of those
 industries included in the NAICS definition of manufacturing plus
 those industries-logging and newspaper, periodical, book, and directory publishing
 -that have traditionally been considered to be manufacturing and included in the
 industrial sector.  Also, special aggregates are available, such as high-technology
 industries and manufacturing excluding high-technology industries.
 
 Source Data.  The monthly rates of capacity utilization are designed to be
 consistent with both the monthly data on production and the periodically
 available data on capacity and utilization.  Because there is no direct
 monthly information on overall industrial capacity or utilization rates, the
 Federal Reserve first estimates annual capacity indexes from the source
 data.  Capacity data reported in physical units from government sources
 (primarily from the U.S. Geological Survey and the Department of
 Energy's Energy Information Administration) and trade sources are
 available for portions of several industries in manufacturing (for example, paper,
 industrial chemicals, petroleum refining, motor vehicles), as well as for
 electric utilities and mining; these industries represent about 24 percent of
 total industrial capacity.  When physical product data are unavailable for
 manufacturing industries, capacity indexes are based on responses to the
 Bureau of the Census's Quarterly Survey of Plant Capacity (QSPC); these
 industries account for about 67 percent of total industry capacity.
 In the absence of utilization data for a few mining and petroleum series, capacity
 is based on trends through peaks in production (roughly 9 percent of total
 industry capacity).  A detailed description of the methodology used to
 construct the capacity indexes is available on the Board's website
 (www.federalreserve.gov/releases/G17/Meth/MethCap.htm).
 
 Aggregation Methodology.  Monthly capacity aggregates are calculated
 in three steps: (1) utilization aggregates are calculated on an annual basis
 through the most recent full year as capacity-weighted aggregates of
 individual utilization rates; (2) the annual aggregate capacity is derived
 from the corresponding production and utilization aggregates; (3) the
 monthly capacity aggregate is obtained by interpolating with a Fisher
 index of its constituent monthly capacity series.  Utilization rates for the
 individual series and aggregates are calculated by dividing the pertinent
 monthly production index by the related capacity index.
 
 Consistency.  A major aim is that the Federal Reserve
 utilization rates be consistent over time so that, for example, a rate
 of 85 percent means about the same degree of tightness that it meant
 in the past.  A major task for the Federal Reserve in developing
 reasonable and consistent time series of capacity and utilization is
 dealing with inconsistencies between the movements of the industrial
 production index and the survey-based utilization rates.  The
 McGraw-Hill/DRI Survey, now discontinued, was the primary source of
 manufacturing utilization rates for many years.  This survey of large
 companies reported, on average, higher utilization rates than those
 reported by establishments covered by the annual Survey of Plant
 Capacity (the primary source of factory operating rates through 2006,
 after which it was discontinued) for the fourteen years they
 overlapped.  Adjustments have been made to keep the industry
 utilization rates currently reported by the Federal Reserve (now based
 on the QSPC) roughly in line with rates formerly reported by
 McGraw-Hill.  As a consequence, the rates reported by the Federal
 Reserve tend to be higher than the rates reported in the Census
 utilization surveys.
 
 Perspective.  Over the 1972-2021 period, the average total industry
 utilization rate was 79.6 percent; for manufacturing, the average factory
 operating rate was 78.2 percent.  Industrial plants usually operate at
 capacity utilization rates that are well below 100 percent: none of the
 broad aggregates has ever reached 100 percent.  For total manufacturing, 
 utilization rates have exceeded 90 percent only in wartime.  The highs 
 and lows in capacity utilization are specific to each series and do not 
 all occur in the same month.
 
 References and Release Dates
 
 References.  The release for the annual revision that was published
 on June 28, 2022, is available on the Board's website (www.federal
 reserve.gov/releases/g17/revisions/Current/DefaultRev.htm).
 A summary of the annual revision that incorporated back to 1972 production and capacity
 indexes reclassified according to the North American Industry
 Classification System is available in an article in the Federal
 Reserve Bulletin, vol. 89 (April 2003), pp.151-176.  A description
 of the aggregation methods for industrial production and capacity
 utilization is included in an article in the Federal Reserve
 Bulletin, vol. 83 (February 1997), pp. 67-92.  The Federal Reserve
 methodology for constructing industry-level measures of capital is
 detailed in "Capital Stock Estimates for Manufacturing Industries:
 Methods and Data" by Mike Mohr and Charles Gilbert (1996), which can
 be obtained at www.federalreserve.gov/releases/g17/CapitalStockDocLatest.pdf.
 
 Industrial Production-1986 Edition contains a more detailed description
 of the other methods used to compile the industrial production index, plus
 a history of its development, a glossary of terms, and a bibliography.  The
 major revisions to the IP indexes and capacity utilization since 1990 have
 been described in the Federal Reserve Bulletin (April 1990, June 1990,
 June 1993, March 1994, January 1995, January 1996, February 1997,
 February 1998, January 1999, March 2000, March 2001, March 2002,
 April 2003, Winter 2004, Winter 2005, March 2006, May 2007, August 2008, August 2009) or
 in online staff studies
 (www.federalreserve.gov/releases/g17/articles/rev2010/industrial10.pdf, 
 www.federalreserve.gov/releases/g17/articles/rev2012/industrial12.pdf,
 www.federalreserve.gov/releases/g17/articles/rev2013/industrial13.pdf).
 
 Release Schedule
 
 In 2022, the G.17 will be published at 9:15 a.m. on:
 
 January 14, February 16, March 17, April 15, May 17, June 17,
 July 15, August 16, September 15, October 18, November 16, and December 15.
 
 This release schedule is available on the Board's website at
 http://www.federalreserve.gov/releases/g17.