Industrial Production and Capacity Utilization - G.17
Revision of Industrial Production and Capacity Utilization
The Federal Reserve Board tentatively plans to issue its annual revision to the indexes of industrial production (IP) and the related measures of capacity utilization in the fourth quarter of 2025. Series will be newly benchmarked using information from the 2022 Economic Census. The weights for market-group splits of the industry-level indexes will be updated with information from the 2017 benchmark input-output accounts from the U.S. Bureau of Economic Analysis. Other annual data, including information on the mining of metallic and nonmetallic minerals (except fuels), will be incorporated. The updated IP indexes will include revisions to the monthly indicator (either product data or input data) and to seasonal factors for each industry. In addition, the estimation methods for some series may be changed. Any modifications to the methods for estimating the output of an industry will affect the index from 1972 to the present.
Capacity and capacity utilization will be revised to incorporate data for manufacturing through the fourth quarter of 2024 from the U.S. Census Bureau's Quarterly Survey of Plant Capacity Utilization, along with new data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations.