FEDERAL RESERVE STATISTICAL RELEASE                                 
 
 G.17 (419) 2021 Historical and Annual Revision                      For release at 12:00 noon (EDT)
                                                                     May 28, 2021

 Industrial Production and Capacity Utilization: The 2021 Annual Revision


       The Federal Reserve has revised its index of industrial production (IP) and the related measures of
 capacity and capacity utilization.  The most prominent features of the revision are an update of the base
 year to 2017 for the indexes, a conversion of the industry-group indexes to the 2017 North American
 Industry Classification System (NAICS), the incorporation of comprehensive annual production data for 2017
 through 2019, and the incorporation of new survey utilization rate data for 2019 and 2020.1

       On net, the revisions to total IP for recent years are negative.  Notably, the updated rates of
 change are 1 to 1-1/2 percentage points lower per year from 2017 through 2019.2  The cumulative effect of
 these revisions leaves the level of total IP in April 2021 about 3-1/2 percent below its late-2007 peak
 before the Great Recession; previously, total IP in April 2021 was slightly above its peak before the Great
 Recession.  The incorporation of detailed data for manufacturing from the U.S. Census Bureau's 2017
 Economic Census (EC) and the 2018 and 2019 Annual Surveys of Manufactures (ASMs) accounts for the majority
 of the differences between the current and the previously published estimates.  The revisions to the rates
 of change for 2020 are small, and the magnitude of the sharp drop (17 percent) in total IP at the onset of
 the pandemic in early 2020 is very similar to the magnitude reported earlier.

       Annual capacity growth is revised down about 1 percentage point, on average, from 2017 to 2019 and is
 little changed in 2020.  After these revisions, capacity for total industry is estimated to have grown
 about 3 percent less between 2016 and the end of 2020 than previously estimated.

       In the fourth quarter of 2020, capacity utilization for total industry stood at 73.4 percent, about
 1/2 percentage point below its previous estimate and about 6-1/4 percentage points below its long-run
 (1972-2020) average.  The utilization rate for 2019 is also about 1/2 percentage point lower than the
 previous estimate, but revisions to utilization rates for 2017 and 2018 are very small.

       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 2017 EC and
 the 2018 and 2019 ASMs.  For publishing, the IP indexes folded in data for 2017 from the EC and data for
 2018 and 2019 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 2018 and 2019 and revised data for 2016 and 2017.  In addition, the indexes for
 metallic and nonmetallic minerals were updated with revised annual data for 2015 through 2017 and with new
 data for 2018 and 2019 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 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 2019 and 2020 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 2017 EC and the 2018 and
 2019 ASMs.

 RESULTS OF THE REVISION

 Industrial Production

        Manufacturing output is now estimated to have risen about 1-1/4 percent in 2017 and about 3/4 percent in
 2018 before falling back about 2-1/2 percent in 2019 and in 2020.  The gains in factory output for 2017 and
 2018 are now both estimated to be smaller than reported earlier, the fall in 2019 is now reported to be
 steeper, and the net decline over the course of 2020 is about the same as previously estimated.  The
 cumulative effect of these revisions leaves manufacturing IP in April 2021 about 10 percent below its peak
 before the Great Recession, a difference that is about 4 percentage points larger than reported earlier.

       The contour for mining output shows sharp gains in 2017 and 2018, little change in 2019, and a
 precipitous drop in 2020.  Relative to earlier estimates, the rates of change in 2017 and 2018 are a bit
 stronger, whereas the estimates for 2019 and 2020 are lower by about 2 and 3 percentage points,
 respectively.  The rates of change for utilities output are little changed by the revision.

 Production by Industry Group

       The output of durable goods manufacturers is now reported to have increased solidly in 2017 and 2018
 before falling back in 2019 and 2020.  Relative to the previous estimates, the gain in the index in 2017 is
 about the same, and the gain in 2018 is smaller;  the drop in 2019 is now steeper, whereas the decline in
 2020 is more gradual.  The downward revisions for 2018 and 2019 are broadly based across durable goods
 industries, as is the upward revision for 2020.

       The contour of the index for nondurables now shows a notable decline between 2016 and 2020;
 previously the index showed a net gain over this period.  The rates of change are now lower in each year in
 the 2016-2020 period.  In particular, nondurables production is now reported to have edged down in 2017,
 whereas it was estimated earlier to have posted a sizable gain.  Within nondurables, the revisions to the
 rates of change were mixed, but a few indexes--principally food, beverage, and tobacco products and
 chemicals--had large downward revisions.

       The output index for industries in scope for manufacturing IP that are not part of manufacturing
 under the NAICS--that is, logging and publishing--has been recording declines for several years, and it
 continued to fall each year in the 2017-2020 period.  However, the declines are now reported to have
 generally been smaller in each year, particularly in 2018, than previously published.

 Production by Market Group

       The index for consumer goods now shows a modest net decline between 2016 and 2019, whereas it was
 previously reported to have increased somewhat; the index now falls a bit more in 2020 than published
 earlier.  The rate of change for business equipment is revised up in 2017 and then revised down notably for
 2018 through 2020.  There are downward revisions to the rates of change for most recent years in both
 construction supplies and business supplies.  Relative to earlier reports, the index for materials
 increased less in 2017 and 2018, and it decreased more in 2019; the decline in 2020 is little changed.  On
 net, there are downward revisions for both the energy and non-energy components.

 Capacity

       Total industrial capacity rose modestly, on net, between 2017 and 2020, driven by increases in
 capacity for both mining and utilities; the overall gain in this period is significantly smaller than
 published earlier.  Notably, capacity is now reported to have declined about 1 percent in 2017, whereas it
 was previously reported to have increased by about the same amount.  Capacity grew about 1-1/2 percent in
 2019, was unchanged in 2020, and is expected to increase about 1/2 percent in 2021.

       Manufacturing capacity is now reported to have contracted close to 1/2 percent per year, on average,
 from 2017 to 2020, with a particularly sizable contraction in 2017.  The new contour contrasts with the
 previous path, which showed a considerable net gain over the 2017-2020 period.  Downward revisions to
 capacity growth are widespread across durable and nondurable manufacturing industries.  The one exception
 is transportation equipment, for which capacity growth revised upward.

       Capacity at mines rose from 2017 to 2020, though by somewhat less than what was previously published,
 as a result of lower capacity increases in oil and gas mining.  Relative to earlier reports, the growth in
 mining capacity was significantly smaller in 2018 and significantly higher in 2019.  For 2020, capacity at
 mines is now reported to have expanded modestly; previously, it was reported to have contracted.  The
 capacity measures for both electric and gas utilities are now reported to have increased more slowly
 between 2017 and 2020 than stated earlier.

 Capacity Utilization

       Capacity utilization for total industry rose in 2017 and 2018 but decreased in 2019 and 2020.3  The
 recent declines resulted from a substantial reduction in the operating rate for mining and from smaller
 reductions in the rates for both manufacturing and utilities.  Compared with earlier estimates, capacity
 utilization for total industry is now reported to have been about 1/2 percentage point lower for 2019 and
 2020 and little changed in earlier years.

       Utilization at manufacturers rose in 2017 and 2018 and then moved down in 2019 and 2020.  The current
 readings for manufacturing utilization are noticeably higher for 2017 through 2020, as capacity revised
 down by more than output.  Manufacturing utilization moved down 1-1/2 percentage points during 2020,
 leaving the utilization rate for the fourth quarter of 2020 about 4-1/4 percentage points below its
 long-run average.  Within manufacturing, upward revisions to utilization rates are fairly widespread in
 both nondurables and durables, though the operating rate in the motor vehicle industry revised down
 noticeably.

       The utilization rate for durable manufacturing was above its long-run average in 2018 but retreated
 to about 73 percent in the fourth quarter of 2020, 3-1/2 percentage points below its long-run average.  Of
 the 10 major categories of durables, only 3 recorded operating rates in the fourth quarter of 2020 that
 were above their long-run averages.  The utilization rate for nondurable manufacturing was 75.5 percent at
 the end of 2020, almost 4-1/2 percentage points below its long-run average.  As of the fourth quarter of
 2020, the operating rate for each major nondurable manufacturing industry group was below its
 industry-specific long-run average.

       The capacity utilization rate for mining declined sharply in 2019 and 2020 as operating rates moved
 down throughout the sector.  Relative to its previously published rate, utilization at mines for the fourth
 quarter of 2020 is about 9 percentage points lower, reflecting both lower production growth and higher
 capacity growth.  At the end of 2020, the utilization rate for mining was 16.6 percentage points below its
 long-run average of 86.2 percent.  Apart from 2018, the sector has been operating below its long-run
 average utilization since 2014.  The operating rate for utilities has been well below its long-run average
 of 85.0 percent since 2008 and stood at 73.4 percent in the fourth quarter of 2020.

 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.

       The current annual revision includes more innovations and updates than are typical.  In particular,
 the current revision updates the base year of the index from 2012 to 2017, reclassifies the IP and capacity
 indexes from the 2012 North American Industry Classification System (NAICS) to the 2017 NAICS, updates the
 aggregation weights for some IP indexes to incorporate data on product shipments based on the new North
 American Product Classification System (NAPCS), and updates the allocations of IP industry group indexes to
 market groups based on the Bureau of Economic Analysis's (BEA) 2012 input-output (I-O) tables (the previous
 allocations were based on I-O tables through 2007).

 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
 this revision incorporated information for 2017 from the Economic Census and new information for 2018 and
 2019 from the Annual Survey of Manufactures (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 2017 through 2019 from the USGS, and the benchmark indexes for logging and for publishing were
 advanced through 2019 based on data from the U.S. Forest Service and from the U.S. Census Bureau,
 respectively.

 Prices

       To obtain individual benchmarks of real gross output, the measures of nominal gross output are
 deflated by annual price deflators.  In general, the benchmark industry price deflators consist of price
 indexes from the BEA through 2011 that are extended through 2019 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 the individual production indexes are
 combined using a version of the Fisher-ideal index formula to construct broader measures of production.
 The weights that are used to combine individual IP measures into more aggregate measures are based on the
 value added from the industry, calculated as gross output less cost of materials.  For 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.  This annual revision used data on product shipments based on the new
 2017 NAPCS.  Previously, data on product shipments had a classification system based on NAICS and were
 included as part of the Census of Manufactures or Annual Survey of Manufactures.  The new classification
 system is coded independently of NAICS, and a concordance was required to align the recent data with the
 historical data used to allocate weights across IP indexes for the period before 2017.  Missing values for
 specific NAPCS-based products were imputed where necessary.  The incorporation of NAPCS is discussed in
 more detail below.

       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 2019.

 Conversion to the 2017 North American Industry Classification System

       Industrial production and capacity utilization are structured to follow a single-industry
 classification system.  With this revision, the industrial production and capacity indexes were classified
 according to the 2017 NAICS; previously, they were classified according to the 2012 NAICS.  To maintain
 consistent time series, the indexes were converted to 2017 NAICS for the period from 1972 forward.

       For the industrial sector, the differences between the 2012 and the 2017 NAICS were relatively minor.
 A few IP indexes were reclassified to reflect the new NAICS structure, but no individual indexes were
 dropped or added because of the new structure.  The reclassifications within the IP system include the
 following:

 Crude Petroleum and Natural Gas Extraction

       The crude petroleum and natural gas extraction and the natural gas liquid extraction industries were
 reorganized under 2017 NAICS.  In the 2012 system, crude petroleum and natural gas extraction were included
 together in NAICS 211111.  Under the 2017 system, crude petroleum extraction is its own six-digit industry
 (NAICS 211120) and natural gas extraction is combined with natural gas liquid extraction (NAICS 211112 in
 the 2012 system) into NAICS 211130.  This reorganization did not affect the number of individual IP
 indexes.  Under both the 2012 and 2017 NAICS, the IP system included three indexes for different categories
 of crude oil extraction, one index for natural gas extraction, one index for propane, and one index for
 liquefied petroleum gas.

 Lead, Zinc, Copper, and Nickel Ore Mining

       Two 2012 NAICS categories, lead ore and zinc ore mining (NAICS 212231) and copper ore and nickel ore
 mining (NAICS 212234), were combined into a single 2017 NAICS category:  copper, nickel, lead, and zinc
 mining (NAICS 212230).  This consolidation did not affect the number of IP indexes, as the IP system
 maintained one index for copper ore and nickel ore mining and another index for lead ore and zinc ore
 mining under both 2012 NAICS and 2017 NAICS.

 Household Appliance Manufacturing

       A single 2017 NAICS six-digit industry for major household appliance manufacturing (NAICS 335220) was
 formed from four different six-digit industries under  2012 NAICS:  Household cooking appliances
 manufacturing (NAICS 335221), household refrigerator and home freezer manufacturing (NAICS 335222),
 household laundry equipment manufacturing (NAICS 335224), and other major household appliance manufacturing
 (NAICS 335228).  This consolidation did not affect the number of individual IP indexes, as the IP system
 still includes one index for each product type within the affected categories under both 2012 NAICS and
 2017 NAICS.

 Adoption of the North American Product Classification System

       As noted earlier, this annual revision uses data on product shipments classified by NAPCS to
 construct annual benchmarks and value-added weights for those IP indexes that are defined as subsets of a
 given six-digit NAICS industry; previously, the benchmarks and aggregation weights for these indexes were
 based on an industry's NAICS-based product shipments as defined in Census Bureau annual surveys or
 censuses.  The Census Bureau introduced NAPCS with the 2017 Economic Censuses and no longer published data
 on the earlier basis.

       Unlike the previous classification system for product shipments, the NAPCS structure is independent
 from the NAICS structure.  Under the previous system, each industry was associated with a unique set of
 products, and the codes for those products were extensions of the codes for their related six-digit
 industries.

       For IP indexes that are more disaggregate than the six-digit NAICS level, the calculations for the
 benchmarks and value-added weights involve summing product shipments for all products associated with the
 particular IP index.  Under the old system, these calculations were straightforward because the products
 were classified based on the primary producing industry.  Under NAPCS, however, the process is considerably
 more complicated for a few reasons.  First, as noted, the NAPCS structure is independent from NAICS, so a
 NAPCS-NAICS crosswalk was needed.  Second, because NAPCS products may be produced across multiple
 industries and sectors, extra care was required to map the product to the appropriate IP index.  Third, the
 non-nested structure of NAPCS and NAICS combined with numerous instances of nondisclosed data cells
 introduced an additional hurdle for imputations.

 Updating Market Group Allocations

       The IP market groups classify industrial output according to the expected use of the output.  The
 categories of market groups are final products (consumer goods and equipment), intermediate products that
 are used as inputs outside of the industrial sector (construction and business supplies), and materials
 that are used as inputs within the industrial sector (materials).  Most industries in the IP index have
 their output allocated to multiple market groups.  For example, a large share of ice cream production is
 purchased by consumers, but a sizable share is also sold to restaurants and other businesses outside the
 industrial sector, and hence is part of business supplies.  The market group shares for the individual IP
 indexes are derived using relationships in the I-O tables issued by the BEA.

       This revision updates the market group assignments and shares based on the 2012 I-O tables.
 Previously, the market groups and weights had been based on the 1997, 2002, and 2007 versions of the
 tables.  The incorporation of the 2012 I-O tables generally affected the market group shares beginning in
 2008.  The shares are assumed to evolve linearly between each I-O table year and to be constant beginning
 with the last available year for the I-O tables.

       In general, the output of an industry is not split among all of the possible market groups, just
 those to which a significant share (roughly 10 percent or more) of its output is destined.  The I-O tables
 reported that a few industries sent their output to markets in amounts that surpassed that threshold for
 the first time in 2012.  For these industries, output was allocated to the newly important market in 2012
 and later years, and output was also allocated to the market in previous years, with the shares for the
 earlier years reflecting the relatively smaller importance in the 1997, 2002, and 2007 I-O tables.

 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   

       Industrial production 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
 2021.  The updated factors for the physical-product-based indexes used data through December 2020 where
 available.  For IP indexes based on physical product data, the seasonal adjustment procedure treated the
 pandemic-influenced months from March 2020 through August 2020 as additive outliers.  For IP indexes that
 use production-worker hours as their monthly indicator, the months from April 2020 through August 2020 were
 specified as additive outliers.

       Since the last annual revision, the seasonal adjustment process has been updated for indexes based on
 production-worker hours.  Certain calendar configurations relating to the number of weekend days in a month
 and the timing of the BLS's Current Employment Statistics survey (the source for the data on
 production-worker hours) appeared to produce small systematic effects on the estimates of total IP.  As a
 remedy, an adjustment to allow for trading day effects was added to the X-13 models for those indexes based
 on production-worker hours.

       Seasonal factors for unit motor vehicle assemblies have been updated, and projections through June
 2022 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 2021 and were revised back to January 2015.  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 from March through May 2020 as outliers due to the pandemic recession.

 Methodological Changes to Individual Production and Capacity Indexes

 Change in Frequency of Source Data for Mattress Manufacturing and for Glass Container Manufacturing

       The index for mattress manufacturing (NAICS 33791) is based on data on shipments from the
 International Sleep Products Association (ISPA).  For many years, the ISPA reported data at a monthly
 frequency; these reports were converted to a quarterly frequency beginning with data for 2015.  With this
 revision, the IP index for matresses was formally updated to reflect the quarterly data beginning in 2017.

       The index for glass container manufacturing (NAICS 327213) is based on production of glass containers
 from the Glass Packaging Institute (GPI).  The GPI issued data at a monthly frequency before transitioning
 to a quarterly frequency several years ago.  With this revision, the IP index for glass containers was
 formally updated to reflect the quarterly data beginning in 2012.

 Change in Source Data for Electric Lighting Equipment

       With this revision, the index for electric lighting equipment (NAICS 3351) is now based on
 production-worker hours.  For the period from 2002 through 2015, the index was based on physical product
 data from the National Electrical Manufacturers Association that have since been discontinued.

 Consolidation of Individual Indexes for Communications Equipment

       Communications equipment manufacturing (NAICS 3342) is covered by numerous individual IP indexes;
 although the individual indexes are included in the published total for communications equipment, they are
 not published separately.  With this revision, three indexes span NAICS 3342:  One index covers all of
 NAICS 33421, telephone apparatus; one index covers the portion of NAICS 33422 that includes wireless system
 equipment; and one index combines the remaining portion (predominantly radio and television broadcasting
 equipment and satellites) of NAICS 33422 with all of NAICS 33429, other communications equipment
 manufacturing.  Previously, six individual indexes covered NAICS 3342.  The source data for all indexes for
 communications equipment come from the U.S. Census Bureau's Quarterly Survey of Plant Capacity Utilization.
 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).  Updated price indexes for data storage
 devices and for selected components of communications equipment will be available on the Board's website at
 https://www.federalreserve.gov/releases/g17/.
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 Table 1A
 Industrial Production : Total
 Seasonally adjusted
 
 
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                 |                                                                                    |                            |
                 |   Jan.   Feb.   Mar.   Apr.    May   June   July   Aug.  Sept.   Oct.   Nov.   Dec.|     Q1     Q2     Q3     Q4|Annual <1>
 ---------------------------------------------------------------------------------------------------------------------------------------------
                 |                                                                                    |                            |
 IP (percent     |                                                                                    |                            |
 change)         |                                                                                    |                            |
  1991           |   -.4    -.7    -.6     .3    1.0     .8     .3     .0     .9    -.1    -.1    -.4 |  -7.3    2.4    5.8     .8 |     -1.5 
  1992           |   -.5     .7     .8     .8     .3     .1     .9    -.5     .3     .7     .4     .1 |   -.5    7.3    3.2    4.2 |      2.9 
                 |                                                                                    |                            |
  1993           |    .4     .5    -.1     .3    -.4     .2     .2    -.1     .5     .8     .5     .5 |   3.7     .8    1.4    6.5 |      3.3 
  1994           |    .3     .1    1.0     .6     .5     .7     .1     .7     .3     .8     .7    1.0 |   5.0    7.6    5.2    8.3 |      5.3 
  1995           |    .2    -.1     .2    -.1     .5     .3    -.4    1.3     .4    -.2     .2     .4 |   4.2    1.3    3.8    3.4 |      4.6 
  1996           |   -.6    1.4    -.1    1.0     .7     .8     .0     .5     .7     .0     .9     .6 |   2.7    8.9    5.3    5.6 |      4.6 
  1997           |    .2    1.2     .6     .1     .5     .5     .8    1.0    1.0     .9     .8     .5 |   7.8    5.7    9.6   10.5 |      7.2 
                 |                                                                                    |                            |
  1998           |    .4     .2     .0     .4     .6    -.6    -.4    2.1    -.1     .8    -.1     .4 |   4.6    2.7    3.0    5.9 |      5.9 
  1999           |    .4     .6     .2     .2     .6    -.1     .6     .4    -.4    1.3     .5     .8 |   4.6    3.8    3.6    7.3 |      4.4 
  2000           |   -.1     .4     .4     .6     .3     .1    -.2    -.3     .4    -.4     .0    -.3 |   4.1    5.0    -.4   -1.1 |      3.8 
  2001           |   -.6    -.7    -.2    -.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     .6    -.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    2.8    3.9 |      1.3 
  2004           |    .2     .6    -.4     .4     .7    -.8     .7     .1     .1     .9     .2     .7 |   2.8    2.3    2.3    5.8 |      2.7 
  2005           |    .4     .7    -.2     .2     .1     .4    -.3     .4   -1.9    1.2    1.1     .5 |   5.8    2.2   -1.7    3.6 |      3.4 
  2006           |    .1     .0     .3     .3     .0     .3    -.1     .4    -.2    -.1    -.1    1.0 |   3.8    2.4    1.5     .9 |      2.2 
  2007           |   -.4    1.0     .2     .7     .1     .0    -.1     .2     .2    -.3     .6     .0 |   4.0    5.0     .6    1.2 |      2.6 
                 |                                                                                    |                            |
  2008           |   -.1    -.4    -.3    -.7    -.6    -.2    -.5   -1.6   -4.3     .9   -1.3   -2.8 |  -1.3   -5.8  -12.4  -16.1 |     -3.5 
  2009           |  -2.5    -.7   -1.6    -.8   -1.0    -.3    1.1    1.1     .8     .3     .4     .3 | -20.8  -10.8    6.5    6.4 |    -11.5 
  2010           |   1.1     .3     .7     .4    1.4     .2     .4     .3     .2    -.2     .0    1.0 |   8.0    8.2    5.4    1.6 |      5.5 
  2011           |   -.2    -.4    1.0    -.3     .2     .3     .5     .6    -.1     .6     .0     .5 |   2.1    1.5    4.6    4.0 |      3.1 
  2012           |    .6     .3    -.5     .8     .2     .0     .2    -.4    -.1     .3     .5     .2 |   3.9    2.6    -.1    2.1 |      3.0 
                 |                                                                                    |                            |
  2013           |    .0     .5     .4    -.1     .1     .1    -.3     .6     .6    -.1     .3     .2 |   2.9    1.9    1.6    2.7 |      2.0 
  2014           |   -.3     .8    1.0     .1     .4     .3     .3    -.2     .3     .0     .7    -.1 |   2.9    5.4    2.4    2.3 |      3.0 
  2015           |   -.7    -.6    -.3    -.6    -.4    -.3     .7    -.3    -.3    -.4    -.7    -.6 |  -4.2   -5.5     .0   -5.5 |     -1.4 
  2016           |    .7    -.5    -.8     .3    -.2     .4     .2    -.2    -.1     .1    -.4     .7 |  -2.3   -1.6    1.0    -.6 |     -2.2 
  2017           |   -.2    -.4     .8     .9     .1     .2    -.1    -.5     .0    1.2     .3     .1 |    .6    5.9   -1.1    5.4 |      1.3 
                 |                                                                                    |                            |
  2018           |    .0     .3     .6    1.1    -.8     .7     .2     .6     .0    -.1    -.1     .0 |   2.2    5.3    3.4    -.1 |      3.2 
  2019           |   -.5    -.6     .1    -.6     .2    -.1    -.3     .6    -.4    -.8     .5    -.4 |  -3.6   -2.3     .0   -2.6 |      -.8 
  2020           |   -.5     .2   -3.8  -13.6    1.9    6.2    4.1    1.1    -.3    1.1     .5    1.2 |  -6.7  -42.4   44.5    8.3 |     -7.2 
  2021           |   1.0   -2.9    2.2     .5                                                         |   2.8                      |          
                 |                                                                                    |                            |
 IP (2017=100)   |                                                                                    |                            |
  1991           |  61.4   60.9   60.6   60.8   61.4   61.8   62.0   62.0   62.5   62.5   62.4   62.1 |  61.0   61.3   62.2   62.3 |     61.7 
  1992           |  61.8   62.2   62.7   63.2   63.4   63.4   64.0   63.7   63.9   64.3   64.6   64.6 |  62.2   63.3   63.8   64.5 |     63.5 
                 |                                                                                    |                            |
  1993           |  64.9   65.2   65.2   65.4   65.1   65.2   65.4   65.3   65.7   66.2   66.5   66.8 |  65.1   65.2   65.5   66.5 |     65.6 
  1994           |  67.1   67.1   67.8   68.2   68.5   69.0   69.1   69.5   69.7   70.3   70.7   71.5 |  67.3   68.6   69.4   70.8 |     69.0 
  1995           |  71.6   71.5   71.6   71.5   71.8   72.1   71.7   72.7   73.0   72.9   73.0   73.3 |  71.6   71.8   72.5   73.1 |     72.2 
  1996           |  72.9   74.0   73.9   74.6   75.2   75.7   75.7   76.1   76.6   76.6   77.2   77.7 |  73.6   75.2   76.1   77.2 |     75.5 
  1997           |  77.9   78.8   79.3   79.3   79.8   80.1   80.8   81.6   82.4   83.1   83.8   84.1 |  78.6   79.8   81.6   83.7 |     80.9 
                 |                                                                                    |                            |
  1998           |  84.5   84.6   84.7   85.0   85.5   85.0   84.7   86.4   86.3   87.0   86.9   87.3 |  84.6   85.2   85.8   87.0 |     85.7 
  1999           |  87.6   88.1   88.3   88.5   89.0   89.0   89.5   89.9   89.5   90.7   91.1   91.8 |  88.0   88.8   89.6   91.2 |     89.4 
  2000           |  91.8   92.1   92.5   93.1   93.3   93.4   93.2   93.0   93.4   93.0   93.0   92.7 |  92.1   93.3   93.2   92.9 |     92.9 
  2001           |  92.2   91.6   91.4   91.1   90.5   90.0   89.5   89.4   88.9   88.6   88.1   88.1 |  91.7   90.5   89.3   88.3 |     90.0 
  2002           |  88.7   88.7   89.4   89.8   90.2   90.9   90.9   90.8   90.9   90.6   91.1   90.6 |  88.9   90.3   90.9   90.8 |     90.2 
                 |                                                                                    |                            |
  2003           |  91.4   91.5   91.2   90.6   90.6   90.7   91.2   91.0   91.6   91.7   92.4   92.4 |  91.4   90.7   91.3   92.2 |     91.4 
  2004           |  92.6   93.1   92.7   93.1   93.8   93.1   93.8   93.9   93.9   94.8   95.0   95.7 |  92.8   93.3   93.9   95.2 |     93.8 
  2005           |  96.1   96.8   96.7   96.9   97.0   97.4   97.0   97.4   95.5   96.6   97.7   98.2 |  96.5   97.1   96.6   97.5 |     96.9 
  2006           |  98.3   98.3   98.6   98.9   98.9   99.2   99.1   99.6   99.4   99.3   99.2  100.3 |  98.4   99.0   99.4   99.6 |     99.1 
  2007           |  99.9  100.8  101.0  101.7  101.8  101.8  101.7  102.0  102.2  101.9  102.5  102.5 | 100.6  101.8  102.0  102.3 |    101.7 
                 |                                                                                    |                            |
  2008           | 102.3  101.9  101.6  100.9  100.3  100.1   99.6   98.1   93.8   94.7   93.5   90.8 | 101.9  100.4   97.2   93.0 |     98.1 
  2009           |  88.6   88.0   86.6   85.9   85.1   84.8   85.7   86.7   87.4   87.7   88.0   88.3 |  87.7   85.3   86.6   88.0 |     86.9 
  2010           |  89.3   89.6   90.2   90.6   91.8   92.0   92.4   92.7   92.9   92.7   92.8   93.6 |  89.7   91.5   92.7   93.0 |     91.7 
  2011           |  93.5   93.1   94.0   93.7   93.8   94.1   94.6   95.2   95.1   95.7   95.7   96.2 |  93.5   93.9   94.9   95.9 |     94.6 
  2012           |  96.8   97.1   96.6   97.3   97.5   97.5   97.7   97.3   97.2   97.5   98.0   98.2 |  96.8   97.4   97.4   97.9 |     97.4 
                 |                                                                                    |                            |
  2013           |  98.2   98.6   99.1   99.0   99.1   99.2   98.9   99.5  100.1   99.9  100.2  100.4 |  98.6   99.1   99.5  100.2 |     99.3 
  2014           | 100.0  100.8  101.8  101.8  102.2  102.6  102.8  102.6  103.0  103.0  103.7  103.6 | 100.9  102.2  102.8  103.4 |    102.3 
  2015           | 102.8  102.2  101.9  101.3  100.8  100.5  101.2  100.9  100.6  100.2   99.4   98.8 | 102.3  100.9  100.9   99.5 |    100.9 
  2016           |  99.5   99.0   98.2   98.5   98.3   98.7   98.9   98.7   98.6   98.7   98.2   98.9 |  98.9   98.5   98.7   98.6 |     98.7 
  2017           |  98.7   98.4   99.1  100.0  100.1  100.3  100.2   99.7   99.7  101.0  101.3  101.4 |  98.7  100.2   99.9  101.2 |    100.0 
                 |                                                                                    |                            |
  2018           | 101.4  101.6  102.3  103.4  102.5  103.3  103.5  104.2  104.1  104.0  103.9  103.9 | 101.8  103.1  103.9  103.9 |    103.2 
  2019           | 103.3  102.7  102.9  102.3  102.5  102.4  102.1  102.7  102.3  101.5  102.0  101.6 | 103.0  102.4  102.4  101.7 |    102.3 
  2020           | 101.1  101.3   97.4   84.2   85.8   91.2   94.9   95.9   95.6   96.6   97.2   98.3 | 100.0   87.1   95.5   97.4 |     95.0 
  2021           |  99.3   96.4   98.5   99.0                                                         |  98.1                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from December 2020 through April 2021 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)    |                                                                                    |                            |
  1991           |  76.7   76.8   76.9   76.9   77.0   77.1   77.2   77.2   77.3   77.4   77.5   77.7 |  76.8   77.0   77.2   77.5 |     77.1 
  1992           |  77.8   78.0   78.1   78.3   78.4   78.6   78.8   78.9   79.1   79.3   79.4   79.6 |  78.0   78.4   78.9   79.4 |     78.7 
                 |                                                                                    |                            |
  1993           |  79.7   79.8   79.9   80.1   80.2   80.3   80.4   80.5   80.6   80.8   80.9   81.1 |  79.8   80.2   80.5   80.9 |     80.4 
  1994           |  81.3   81.5   81.7   81.9   82.1   82.4   82.6   82.9   83.2   83.5   83.7   84.0 |  81.5   82.1   82.9   83.7 |     82.6 
  1995           |  84.3   84.6   84.9   85.2   85.5   85.8   86.1   86.5   86.8   87.2   87.5   87.9 |  84.6   85.5   86.5   87.5 |     86.0 
  1996           |  88.3   88.7   89.1   89.5   89.9   90.3   90.7   91.2   91.6   92.0   92.5   92.9 |  88.7   89.9   91.2   92.5 |     90.6 
  1997           |  93.3   93.8   94.3   94.8   95.3   95.8   96.3   96.9   97.5   98.1   98.7   99.3 |  93.8   95.3   96.9   98.7 |     96.2 
                 |                                                                                    |                            |
  1998           | 100.0  100.6  101.3  101.9  102.6  103.2  103.8  104.3  104.9  105.4  105.9  106.4 | 100.6  102.6  104.3  105.9 |    103.4 
  1999           | 106.9  107.3  107.8  108.2  108.6  109.0  109.4  109.8  110.2  110.6  111.0  111.4 | 107.3  108.6  109.8  111.0 |    109.2 
  2000           | 111.7  112.1  112.5  112.9  113.3  113.6  114.0  114.4  114.8  115.2  115.5  115.9 | 112.1  113.3  114.4  115.5 |    113.8 
  2001           | 116.3  116.7  117.0  117.4  117.7  118.0  118.3  118.6  118.9  119.1  119.4  119.6 | 116.7  117.7  118.6  119.4 |    118.1 
  2002           | 119.8  119.9  120.1  120.2  120.3  120.3  120.4  120.4  120.4  120.4  120.4  120.4 | 119.9  120.3  120.4  120.4 |    120.3 
                 |                                                                                    |                            |
  2003           | 120.3  120.3  120.3  120.2  120.2  120.1  120.1  120.1  120.1  120.1  120.0  120.0 | 120.3  120.2  120.1  120.0 |    120.2 
  2004           | 120.0  120.0  119.9  119.9  119.9  119.9  119.9  119.9  119.9  119.9  120.0  120.0 | 120.0  119.9  119.9  120.0 |    119.9 
  2005           | 120.1  120.2  120.3  120.5  120.6  120.8  121.0  121.1  121.3  121.5  121.6  121.8 | 120.2  120.6  121.1  121.6 |    120.9 
  2006           | 122.0  122.1  122.3  122.5  122.7  122.9  123.1  123.4  123.6  123.9  124.2  124.5 | 122.1  122.7  123.4  124.2 |    123.1 
  2007           | 124.8  125.1  125.4  125.7  126.0  126.2  126.4  126.5  126.6  126.6  126.6  126.6 | 125.1  126.0  126.5  126.6 |    126.1 
                 |                                                                                    |                            |
  2008           | 126.5  126.4  126.3  126.3  126.2  126.1  126.2  126.2  126.3  126.4  126.6  126.7 | 126.4  126.2  126.2  126.6 |    126.4 
  2009           | 126.9  127.0  127.1  127.3  127.3  127.4  127.4  127.3  127.2  127.0  126.8  126.6 | 127.0  127.3  127.3  126.8 |    127.1 
  2010           | 126.4  126.1  125.8  125.6  125.3  125.0  124.8  124.5  124.3  124.2  124.0  123.9 | 126.1  125.3  124.5  124.1 |    125.0 
  2011           | 123.9  123.9  123.9  123.9  124.0  124.1  124.2  124.3  124.5  124.7  124.9  125.1 | 123.9  124.0  124.4  124.9 |    124.3 
  2012           | 125.4  125.6  125.8  126.1  126.3  126.5  126.7  126.9  127.2  127.4  127.6  127.8 | 125.6  126.3  126.9  127.6 |    126.6 
                 |                                                                                    |                            |
  2013           | 127.9  128.1  128.3  128.4  128.6  128.7  128.9  129.0  129.1  129.2  129.3  129.4 | 128.1  128.6  129.0  129.3 |    128.7 
  2014           | 129.5  129.6  129.7  129.8  129.9  130.1  130.2  130.3  130.5  130.6  130.7  130.8 | 129.6  129.9  130.3  130.7 |    130.1 
  2015           | 130.9  131.0  131.0  131.1  131.1  131.1  131.1  131.1  131.1  131.1  131.1  131.1 | 131.0  131.1  131.1  131.1 |    131.1 
  2016           | 131.1  131.1  131.1  131.1  131.2  131.2  131.2  131.3  131.3  131.3  131.3  131.3 | 131.1  131.2  131.3  131.3 |    131.2 
  2017           | 131.3  131.3  131.2  131.1  131.0  130.9  130.7  130.6  130.5  130.3  130.2  130.1 | 131.3  131.0  130.6  130.2 |    130.8 
                 |                                                                                    |                            |
  2018           | 130.1  130.0  130.0  130.0  130.1  130.1  130.2  130.4  130.6  130.7  130.9  131.1 | 130.0  130.1  130.4  130.9 |    130.4 
  2019           | 131.3  131.5  131.7  131.9  132.1  132.2  132.4  132.5  132.6  132.7  132.7  132.8 | 131.5  132.1  132.5  132.7 |    132.2 
  2020           | 132.8  132.8  132.8  132.8  132.8  132.7  132.7  132.7  132.7  132.6  132.6  132.6 | 132.8  132.8  132.7  132.6 |    132.7 
  2021           | 132.6  132.6  132.7  132.7                                                         | 132.6                      |          
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1991           |  80.0   79.3   78.8   79.0   79.7   80.2   80.4   80.3   80.9   80.7   80.4   80.0 |  79.4   79.6   80.5   80.3 |     80.0 
  1992           |  79.4   79.8   80.3   80.7   80.8   80.7   81.3   80.6   80.7   81.1   81.3   81.3 |  79.8   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   82.4   83.0   83.3   83.4   83.7   83.6   83.8   83.8   84.2   84.5   85.1 |  82.6   83.5   83.7   84.6 |     83.6 
  1995           |  84.9   84.5   84.3   83.9   84.0   84.0   83.3   84.1   84.1   83.6   83.4   83.4 |  84.6   84.0   83.8   83.5 |     84.0 
  1996           |  82.6   83.4   82.9   83.4   83.6   83.8   83.4   83.5   83.6   83.2   83.6   83.7 |  82.9   83.6   83.5   83.5 |     83.4 
  1997           |  83.4   84.0   84.1   83.7   83.7   83.7   83.9   84.2   84.5   84.7   84.9   84.7 |  83.8   83.7   84.2   84.8 |     84.1 
                 |                                                                                    |                            |
  1998           |  84.5   84.1   83.6   83.4   83.4   82.4   81.6   82.8   82.3   82.5   82.1   82.0 |  84.1   83.0   82.2   82.2 |     82.9 
  1999           |  82.0   82.1   81.9   81.8   82.0   81.6   81.8   81.9   81.2   82.0   82.1   82.5 |  82.0   81.8   81.6   82.2 |     81.9 
  2000           |  82.2   82.2   82.2   82.4   82.4   82.2   81.7   81.3   81.3   80.8   80.5   80.0 |  82.2   82.3   81.4   80.4 |     81.6 
  2001           |  79.3   78.5   78.1   77.6   76.9   76.3   75.6   75.3   74.8   74.4   73.8   73.7 |  78.6   76.9   75.3   74.0 |     76.2 
  2002           |  74.0   73.9   74.4   74.7   75.0   75.5   75.5   75.4   75.5   75.3   75.7   75.3 |  74.1   75.1   75.5   75.4 |     75.0 
                 |                                                                                    |                            |
  2003           |  75.9   76.1   75.9   75.4   75.4   75.5   75.9   75.8   76.3   76.4   76.9   77.0 |  76.0   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   79.1   79.2   79.8 |  77.4   77.8   78.3   79.4 |     78.2 
  2005           |  80.0   80.5   80.3   80.4   80.4   80.6   80.2   80.4   78.7   79.6   80.3   80.6 |  80.3   80.5   79.8   80.2 |     80.2 
  2006           |  80.6   80.5   80.6   80.8   80.6   80.7   80.5   80.7   80.4   80.1   79.9   80.5 |  80.6   80.7   80.6   80.2 |     80.5 
  2007           |  80.0   80.6   80.5   80.9   80.8   80.7   80.5   80.6   80.7   80.5   80.9   80.9 |  80.4   80.8   80.6   80.8 |     80.6 
                 |                                                                                    |                            |
  2008           |  80.9   80.6   80.4   79.9   79.5   79.3   79.0   77.7   74.3   74.9   73.9   71.7 |  80.6   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   69.4   69.7 |  69.1   67.0   68.1   69.4 |     68.4 
  2010           |  70.6   71.0   71.7   72.1   73.3   73.6   74.1   74.5   74.7   74.7   74.8   75.6 |  71.1   73.0   74.4   75.0 |     73.4 
  2011           |  75.5   75.1   75.9   75.6   75.7   75.8   76.2   76.5   76.4   76.7   76.6   76.9 |  75.5   75.7   76.4   76.7 |     76.1 
  2012           |  77.2   77.3   76.8   77.2   77.2   77.0   77.1   76.6   76.5   76.6   76.8   76.9 |  77.1   77.1   76.7   76.8 |     76.9 
                 |                                                                                    |                            |
  2013           |  76.7   77.0   77.2   77.1   77.0   77.1   76.8   77.2   77.5   77.3   77.5   77.6 |  77.0   77.1   77.1   77.5 |     77.2 
  2014           |  77.3   77.8   78.5   78.5   78.7   78.9   79.0   78.8   78.9   78.9   79.3   79.2 |  77.8   78.7   78.9   79.1 |     78.6 
  2015           |  78.6   78.0   77.8   77.3   76.9   76.6   77.2   77.0   76.7   76.4   75.8   75.4 |  78.1   76.9   76.9   75.9 |     77.0 
  2016           |  75.9   75.5   74.9   75.1   74.9   75.2   75.4   75.2   75.1   75.1   74.8   75.3 |  75.4   75.1   75.2   75.1 |     75.2 
  2017           |  75.2   74.9   75.5   76.3   76.5   76.6   76.6   76.3   76.5   77.5   77.8   77.9 |  75.2   76.5   76.5   77.7 |     76.5 
                 |                                                                                    |                            |
  2018           |  77.9   78.2   78.7   79.5   78.8   79.4   79.5   79.9   79.8   79.5   79.4   79.2 |  78.3   79.3   79.7   79.4 |     79.2 
  2019           |  78.7   78.1   78.1   77.5   77.6   77.4   77.1   77.5   77.2   76.5   76.8   76.5 |  78.3   77.5   77.2   76.6 |     77.4 
  2020           |  76.1   76.3   73.4   63.4   64.7   68.7   71.5   72.3   72.1   72.9   73.3   74.2 |  75.3   65.6   71.9   73.4 |     71.6 
  2021           |  74.9   72.7   74.2   74.6                                                         |  73.9                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from December 2020 through April 2021 are subject to further revision in the upcoming monthly releases.
 
 
 
 
 
 
 
 Table 2
 Rates of Change in Industrial Production, Market and Industry Group Summary: 2016-2020 <1>
 
 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          |               |                                              |              Difference between
                                                          |               |                Revised change                |         revised and earlier changes
                                                          |               |                  (percent)                   |             (percentage points)
 Item                                                     |         NAICS |     2016     2017     2018     2019     2020 |     2016     2017     2018     2019     2020
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          |               |                                              |
  Total IP                                                |               |     -.9      2.6      2.7     -2.1     -4.2  |     -.6     -1.0     -1.3     -1.5       .0 
                                                          |               |                                              |
  MARKET GROUP                                            |               |                                              |
  Final products and nonindustrial supplies               |               |     -.5      1.8      1.3     -1.9     -3.4  |     -.7      -.9      -.8      -.9      -.3 
     Consumer goods                                       |               |      .6      -.4       .7     -1.3      -.8  |     -.4     -2.1      -.8       .0      -.5 
        Durable                                           |               |     2.5      -.6      4.4     -4.2      4.2  |     -.6     -1.3      1.4      -.6      1.1 
           Automotive products                            |               |     4.9      1.5      5.0     -5.2      5.1  |      .0       .9      1.5      -.2      -.8 
           Home electronics                               |               |     1.2      5.4     19.7      3.4     16.0  |      .4      4.0     14.0     -5.0     14.0 
           Appliances, furniture, carpeting               |               |      .5     -2.0     -1.7     -2.9      5.2  |     -.4     -1.5      -.1       .3      4.7 
           Miscellaneous goods                            |               |     -.9     -4.7      5.4     -3.9       .8  |    -2.3     -6.1      1.4     -1.5      1.0 
        Nondurable                                        |               |      .0      -.4      -.3      -.4     -2.2  |     -.4     -2.3     -1.4       .1     -1.0 
           Non-energy                                     |               |    -1.1     -1.2     -1.4       .3      -.8  |     -.5     -2.8     -1.3       .5     -1.0 
              Foods and tobacco                           |               |      .0       .4     -1.7      1.3      -.4  |     -.3     -2.1     -1.5      -.3     -1.5 
              Clothing                                    |               |      .8     -7.8     -2.7      1.9     -1.2  |     3.0      2.8      2.4     10.4      3.5 
              Chemical products                           |               |    -2.6     -3.3     -1.1       .0      -.8  |    -1.0     -5.4     -2.4      1.5      -.6 
              Paper products                              |               |    -3.7     -4.5     -2.8     -6.0     -4.3  |     -.3       .0      2.7      2.0     -1.3 
           Energy                                         |               |     4.1      2.4      2.8     -2.5     -6.6  |     -.2      -.6     -1.8      -.9      -.9 
                                                          |               |                                              |
     Business equipment                                   |               |    -2.1      7.1      1.4     -4.2     -8.5  |      .0      2.2     -2.5     -2.2      -.9 
        Transit                                           |               |    -3.9      9.0     -4.0     -6.1    -23.9  |     2.5      8.8     -7.6      2.3     -6.3 
        Information processing                            |               |     4.1      4.8      4.1      1.5      3.5  |      .1       .7       .6     -4.1      2.4 
        Industrial and other                              |               |    -3.7      7.0      3.6     -5.3     -4.5  |    -1.4      -.6      -.7     -3.1      2.6 
     Defense and space equipment                          |               |     -.9      1.7      5.0     10.9      1.9  |    -1.6      2.5     -1.7      2.5      3.0 
                                                          |               |                                              |
     Construction supplies                                |               |      .0      2.2       .7     -2.4      -.2  |     -.8     -1.9     -1.8     -2.9      1.3 
     Business supplies                                    |               |     -.1      1.1       .9     -3.0     -5.0  |    -1.5     -1.2       .9     -2.0       .2 
                                                          |               |                                              |
  Materials                                               |               |    -1.4      3.8      4.4     -2.5     -5.5  |     -.4     -1.0     -1.7     -2.2       .3 
     Non-energy                                           |               |     -.5      1.3       .7     -4.3     -1.6  |     -.5     -1.4     -2.5     -2.4      1.1 
        Durable                                           |               |    -1.0      2.1      2.0     -5.1     -2.8  |     -.4      -.6     -1.8     -2.8      1.7 
           Consumer parts                                 |               |     -.9     -2.5      2.5    -10.7      1.1  |     -.7     -3.2     -1.4     -2.0     -1.0 
           Equipment parts                                |               |     1.2      4.2      2.0     -1.6     -1.5  |      .9      2.4     -3.9     -2.3      2.7 
           Other                                          |               |    -2.4      2.5      1.9     -5.2     -4.7  |    -1.0     -1.5      -.8     -3.4      2.0 
        Nondurable                                        |               |      .4       .1     -1.3     -3.0       .3  |     -.7     -2.7     -3.6     -1.6       .5 
           Textile                                        |               |      .1     -5.8       .5     -3.8     -4.9  |    -1.1     -4.5     -4.9     -3.5      2.3 
           Paper                                          |               |      .4     -5.3      1.4     -1.3     -7.4  |      .0     -1.7      1.7      2.3     -1.3 
           Chemical                                       |               |      .3      2.2     -3.4     -5.6      2.9  |     -.3     -2.7     -7.8     -4.0      1.9 
     Energy                                               |               |    -3.3      8.5     10.4       .6    -12.3  |     -.4       .4       .1     -1.7     -2.0 
                                                          |               |                                              |
                                                          |               |                                              |
  INDUSTRY GROUP                                          |               |                                              |
  Manufacturing<2>                                        |               |     -.3      1.3       .7     -2.6     -2.5  |     -.6     -1.2     -1.5     -1.4       .2 
     Manufacturing (NAICS)                                |        31-33  |     -.3      1.4       .8     -2.4     -2.3  |     -.6     -1.3     -1.8     -1.4       .3 
                                                          |               |                                              |
        Durable manufacturing                             |               |     -.5      2.8      2.4     -3.3     -2.5  |     -.4       .2     -1.7     -2.0      1.0 
           Wood products                                  |          321  |     2.8       .8     -3.4     -1.1       .2  |    -1.9     -4.6     -2.4     -4.2      -.3 
           Nonmetallic mineral products                   |          327  |    -1.0       .6      -.9     -2.2       .9  |    -1.0     -4.7     -2.8     -1.7      2.2 
           Primary metals                                 |          331  |    -5.3      2.4      4.1     -7.5     -6.3  |    -1.2     -1.9     -2.0     -3.4      2.9 
           Fabricated metal products                      |          332  |    -1.8      3.1      3.5     -3.9     -5.9  |     -.2       .1     -1.4     -2.7       .3 
           Machinery                                      |          333  |    -3.6      8.3      3.8     -6.7      -.1  |    -1.3     -1.0     -1.9     -2.7      3.3 
           Computer and electronic products               |          334  |     6.4      6.3      2.2      2.3      4.1  |     1.3      2.8     -2.2     -4.0      2.2 
           Electrical equip., appliances,                 |               |                                              |
              and components                              |          335  |     -.5     -1.3      3.9     -3.3     -2.1  |     -.3     -1.3       .4     -1.2      1.5 
           Motor vehicles and parts                       |       3361-3  |     2.2     -1.2      5.9     -8.4      2.8  |     -.3      -.8       .4     -1.6     -1.0 
           Aerospace and miscellaneous                    |               |                                              |
              transportation equipment                    |       3364-9  |    -2.6      5.3     -2.8      3.8    -13.5  |      .6      6.1     -5.5      3.3     -1.7 
           Furniture and related products                 |          337  |    -1.0      -.9      -.2     -3.9     -5.5  |     -.6       .7     -1.8     -3.2      5.5 
           Miscellaneous                                  |          339  |    -3.6     -2.6      4.5     -4.7     -1.4  |    -2.3     -1.4      2.2     -5.3      3.4 
                                                          |               |                                              |
        Nondurable manufacturing                          |               |      .1      -.2     -1.0     -1.5     -2.1  |     -.7     -2.9     -1.8      -.7      -.5 
           Food, beverage, and tobacco products           |        311,2  |      .1       .3     -1.1      1.4      -.2  |     -.6     -2.8     -1.2      -.3     -1.4 
           Textile and product mills                      |        313,4  |    -1.6     -7.7      1.4     -3.8     -5.6  |    -2.5     -7.9       .5      -.2      -.2 
           Apparel and leather                            |        315,6  |      .9     -7.4     -2.9      1.5      -.8  |     2.9      2.7      2.3     10.0      3.3 
           Paper                                          |          322  |     1.1     -3.6      1.9     -1.4     -3.5  |     -.1     -1.1      1.9      1.2     -1.6 
           Printing and support                           |          323  |      .9     -1.0      -.3     -3.7     -8.3  |     -.7       .2      2.4      -.5      1.2 
           Petroleum and coal products                    |          324  |     4.6      3.5     -1.1     -1.2    -12.1  |      .4       .9       .1       .5      -.8 
           Chemicals                                      |          325  |    -1.1      -.5     -2.7     -3.1       .0  |     -.9     -4.8     -5.6     -1.6       .5 
           Plastics and rubber products                   |          326  |     -.4      1.0      2.3     -5.1     -2.2  |    -1.8     -1.8      2.3     -2.5      -.4 
                                                          |               |                                              |
     Other manufacturing (non-NAICS)                      |    1133,5111  |    -2.9      -.7     -3.9     -7.6     -9.1  |    -1.4      2.8      6.1       .5      -.9 
                                                          |               |                                              |
  Mining                                                  |           21  |    -7.4     12.4     14.1       .5    -16.6  |    -1.2      1.0       .2     -1.8     -3.1 
  Utilities                                               |       2211,2  |     1.9      2.7      3.0     -1.7     -3.2  |     -.2      -.4       .4      -.7      -.6 
     Electric                                             |         2211  |     2.1      1.7      1.5     -1.3     -2.1  |      .0      -.4       .7      -.4      -.3 
     Natural gas                                          |         2212  |      .9      9.5     12.9     -4.1     -9.9  |    -1.7      -.6       .1     -2.0     -3.5 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
 
 <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.  For 2015, the rates are calculated
      from the fourth quarter of 2014 to the second quarter 2015 and are annualized.
 <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: 2016-2020 <1>
 
 
 ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |              |                                         |           Difference between
                                                   |              |             Revised change              |       revised and earlier changes
                                                   |              |                (percent)                |           (percentage points)
 Item                                              |        NAICS |    2016    2017    2018    2019    2020 |    2016    2017    2018    2019    2020
 ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |              |                                         |
  Total industry                                   |              |    -.9     2.6     2.7    -2.1    -4.2  |    -.6    -1.0    -1.3    -1.5      .0 
                                                   |              |                                         |
  Energy                                           |              |   -1.9     7.0     8.4     -.4   -11.8  |    -.3      .0     -.4    -1.2    -1.8 
     Consumer products                             |              |    4.1     2.4     2.8    -2.5    -6.6  |    -.2     -.6    -1.8     -.9     -.9 
     Commercial products                           |              |    2.2     1.8     2.5      .3    -9.5  |    -.1     -.3      .0      .3    -2.1 
     Oil and gas well drilling                     |      213111  |  -28.5    42.2    27.8   -11.1   -48.3  |   -2.0     5.0     8.6    11.0    11.8 
     Converted fuel                                |              |     .7     2.9     4.8    -2.7    -4.5  |     .1      .6     1.6    -1.1    -1.0 
     Primary energy                                |              |   -5.1    11.3    12.7     2.1   -15.9  |    -.8      .8     -.1    -1.5    -3.2 
                                                   |              |                                         |
  Non-energy                                       |              |    -.6     1.4      .7    -2.7    -1.9  |    -.7    -1.2    -1.5    -1.5      .3 
     Selected high-technology industries           |              |   10.8     8.8     5.0     6.1     9.1  |    2.9     6.9     -.4     -.8     3.9 
        Computers and peripheral equipment         |        3341  |    -.2   -13.9    29.0    12.2    19.1  |  -12.4   -26.1    27.6    12.3    12.7 
        Communications equipment                   |        3342  |   10.8    12.0    12.2     4.3    12.6  |    5.8    17.2     5.2    -3.8    11.8 
        Semiconductors and related                 |              |                                         |
           electronic components                   |        3344  |   13.4    11.9     -.7     5.6     5.9  |    5.4     9.5    -6.7    -2.8     -.8 
                                                   |              |                                         |
     Excluding selected high-technology            |              |                                         |
           industries                              |              |   -1.0     1.1      .6    -3.0    -2.2  |    -.8    -1.4    -1.5    -1.6      .2 
                                                   |              |                                         |
        Motor vehicles and parts                   |      3361-3  |    2.2    -1.2     5.9    -8.4     2.8  |    -.3     -.8      .4    -1.6    -1.0 
           Motor vehicles                          |        3361  |    1.3    -4.7    11.0    -8.5     3.3  |    -.4      .7     1.6     -.8     -.8 
           Motor vehicle parts                     |        3363  |    3.2     -.2     2.9    -8.1      .5  |    -.6    -2.8    -1.5    -2.5     -.8 
                                                   |              |                                         |
        Excluding motor vehicles and parts         |              |   -1.2     1.3      .1    -2.5    -2.6  |    -.8    -1.5    -1.7    -1.6      .3 
           Consumer goods                          |              |   -1.0    -1.2     -.8     -.4     -.2  |    -.6    -2.9    -1.1      .2     -.4 
           Business equipment                      |              |   -2.4     8.4     -.8    -4.0   -10.9  |     .1     2.6    -3.6    -2.6    -1.6 
           Construction supplies                   |              |     .0     2.2      .7    -2.4     -.3  |    -.9    -2.0    -1.8    -2.9     1.3 
           Business supplies                       |              |   -1.5      .4      .4    -4.7    -4.1  |   -2.0    -2.1     1.7    -2.9      .7 
           Materials                               |              |   -1.2     1.2      .6    -4.2    -2.0  |    -.8    -1.8    -2.3    -2.3     1.3 
                                                   |              |                                         |
  Measures excluding selected high-technology      |              |                                         |
        industries                                 |              |                                         |
  Total industry                                   |              |   -1.2     2.5     2.6    -2.3    -4.6  |    -.6    -1.2    -1.3    -1.5     -.1 
     Manufacturing<2>                              |              |    -.7     1.1      .5    -2.8    -2.9  |    -.7    -1.4    -1.6    -1.4      .1 
        Durable                                    |              |   -1.2     2.4     2.2    -3.8    -3.3  |    -.6     -.3    -1.8    -2.2      .7 
                                                   |              |                                         |
  Measures excluding motor vehicles and parts      |              |                                         |
  Total industry                                   |              |   -1.1     2.9     2.5    -1.8    -4.7  |    -.6    -1.0    -1.4    -1.5      .1 
     Manufacturing<2>                              |              |    -.5     1.5      .2    -2.1    -2.9  |    -.6    -1.2    -1.7    -1.4      .3 
        Durable                                    |              |   -1.0     3.5     1.8    -2.4    -3.4  |    -.4      .3    -2.1    -2.2     1.4 
                                                   |              |                                         |
  Measures excluding selected high-technology      |              |                                         |
        industries and motor vehicles and parts    |              |                                         |
  Total industry                                   |              |   -1.4     2.8     2.4    -2.0    -5.0  |    -.7    -1.2    -1.4    -1.5     -.1 
     Manufacturing<2>                              |              |    -.9     1.3      .1    -2.4    -3.3  |    -.7    -1.5    -1.7    -1.4      .1 
                                                   |              |                                         |
  Stage-of-process components                      |              |                                         |
        of non-energy materials,                   |              |                                         |
        measures of the input to                   |              |                                         |
  Finished processors                              |              |     .4      .1     2.0    -4.4    -1.9  |     .2     -.2    -2.1    -1.4      .9 
  Primary and semifinished processors              |              |   -1.0     2.0      .0    -4.3    -1.5  |    -.9    -2.2    -2.6    -2.9     1.2 
                                                   |              |                                         |
  Stage-of-process groups                          |              |                                         |
  Crude                                            |              |   -4.2     6.3     9.3     -.8   -10.5  |   -1.1    -1.6    -1.5    -2.7    -1.6 
  Primary and semifinished                         |              |     .4     2.1     1.3    -3.6    -3.8  |    -.4     -.5     -.8    -1.9      .4 
  Finished                                         |              |   -1.2     1.9     1.4     -.8    -2.4  |    -.7    -1.1    -1.3     -.1     -.5 
 ----------------------------------------------------------------------------------------------------------------------------------------------------
 <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                                                     |    2016    2017    2018    2019    2020 |    2016    2017    2018    2019    2020
 --------------------------------------------------------------------------------------------------------------------------------------------
                                                          |                                         |
  Total IP                                                |   -2.2     1.3     3.2     -.8    -7.2  |    -.2    -1.0     -.8    -1.6     -.3 
                                                          |                                         |
  MARKET GROUP                                            |                                         |
  Consumer goods                                          |     .6    -1.0      .8     -.8    -3.9  |     .0    -1.6    -1.3      .2      .2 
     Durable                                              |    2.3     -.2     3.2    -1.6    -7.3  |     .2    -1.7     1.0     -.1     1.7 
     Nondurable                                           |     .1    -1.3      .1     -.6    -2.9  |    -.1    -1.5    -2.0      .2     -.3 
                                                          |                                         |
  Business equipment                                      |   -5.3     4.6     3.9    -4.0   -13.7  |     .0     1.0      .7    -4.4     -.8 
  Defense and space equipment                             |   -3.6     2.3     2.2     9.8     1.8  |    -.7      .3     -.2      .6     3.5 
                                                          |                                         |
  Construction supplies                                   |     .9     1.3     1.7    -1.9    -3.6  |     .1    -2.2    -1.0    -3.2      .9 
  Business supplies                                       |     .0      .2     2.0    -2.2    -8.2  |    -.5    -2.1     1.2    -1.2     -.6 
                                                          |                                         |
  Materials                                               |   -3.3     2.0     4.7     -.1    -8.0  |    -.3     -.7    -1.2    -2.1     -.8 
     Non-energy                                           |   -1.0      .5     1.5    -3.0    -6.2  |     .1    -1.5    -1.7    -2.6      .5 
     Energy                                               |   -7.5     5.1    10.2     4.5   -10.9  |   -1.4     1.1      .1     -.9    -3.0 
                                                          |                                         |
                                                          |                                         |
  INDUSTRY GROUP                                          |                                         |
  Manufacturing<2>                                        |    -.8      .6     1.3    -2.0    -6.6  |     .0    -1.3    -1.0    -1.8      .2 
     Manufacturing (NAICS)                                |    -.7      .7     1.5    -1.9    -6.4  |     .0    -1.4    -1.2    -1.9      .2 
        Durable manufacturing                             |   -2.1     1.7     3.1    -2.1    -8.2  |     .0     -.5     -.2    -2.7      .8 
        Nondurable manufacturing                          |     .8     -.4     -.3    -1.8    -4.3  |     .0    -2.3    -2.2    -1.0     -.3 
     Other manufacturing (non-NAICS)                      |   -2.9     -.9    -3.3    -4.5   -14.8  |    -.3     -.3     6.5     2.7    -1.6 
                                                          |                                         |
  Mining                                                  |  -12.3     8.8    13.0     5.9   -14.2  |   -2.3     1.4      .6    -1.3    -3.8 
  Utilities                                               |    -.5     -.8     4.9     -.8    -3.4  |    -.1      .0      .5      .2     -.4 
 --------------------------------------------------------------------------------------------------------------------------------------------
 
 <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: 2017-2021 <1>
 
 
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
                                                   |                                                   |                Difference between
                                                   |                  Revised change                   |            revised and earlier changes
                                                   |                     (percent)                     |                (percentage points)
 Item                                              |      2017      2018      2019      2020      2021 |      2017      2018      2019      2020      2021
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
  Total industry                                   |      -.8        .5       1.4       -.1        .4  |     -1.2      -1.0       -.8       -.1       -.1 
                                                   |                                                   |
  Manufacturing<2>                                 |     -1.3        .1        .2       -.7        .1  |     -1.6       -.5      -1.2       -.5       -.1 
     Manufacturing (NAICS)                         |     -1.1        .3        .3       -.5        .3  |     -1.6       -.5      -1.1       -.5       -.2 
        Durable manufacturing                      |      -.1        .8        .5       -.4        .3  |      -.7       -.1      -1.2       -.5       -.3 
        Nondurable manufacturing                   |     -2.3       -.3        .1       -.7        .3  |     -2.7       -.9      -1.3       -.6        .0 
     Other manufacturing (non-NAICS)               |     -5.0      -4.3      -5.3      -5.8      -5.5  |      -.8       -.7      -4.1      -1.9       1.0 
                                                   |                                                   |
  Mining                                           |       .1       2.9       7.4        .3      -1.1  |      -.3      -4.5       1.6       2.4        .5 
  Utilities                                        |      1.0        .6       1.7       2.9       2.6  |      -.3      -1.1       -.8       -.2       -.1 
                                                   |                                                   |
                                                   |                                                   |
  Selected high-technology industries              |     -1.2       6.4      10.4       3.1       8.2  |     -5.1       3.4       3.3      -1.6       2.1 
  Manufacturing<2> ex. selected                    |                                                   |
        high-technology industries                 |     -1.3       -.1       -.2       -.8       -.1  |     -1.5       -.7      -1.4       -.5       -.2 
                                                   |                                                   |
  Stage-of-process groups                          |                                                   |
  Crude                                            |      -.7       1.3       5.2        .1       -.5  |     -1.3      -4.0        .8       1.8        .5 
  Primary and semifinished                         |      -.9       -.3        .3       -.1        .6  |      -.8      -1.1      -1.4       -.3        .0 
  Finished                                         |      -.8       1.2        .5       -.4        .1  |     -1.9        .2      -1.1       -.8       -.3 
 ---------------------------------------------------------------------------------------------------------------------------------------------------------
 <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     |    2020    2017    2018    2019    2020 |     2017     2018     2019     2020
                                                          |               |    Ave.      Q4      Q4      Q4      Q4 |       Q4       Q4       Q4       Q4
 --------------------------------------------------------------------------------------------------------------------------------------------------------
  Total industry                                          |               |   79.6    77.7    79.4    76.6    73.4  |      .1      -.1      -.6      -.5 
                                                          |               |                                         |
  Manufacturing<1>                                        |               |   78.2    77.1    77.5    75.4    74.0  |     1.3       .5       .4       .9 
     Manufacturing (NAICS)                                |        31-33  |   78.1    77.3    77.7    75.6    74.2  |     1.1       .2       .0       .6 
                                                          |               |                                         |
        Durable manufacturing                             |               |   76.8    76.4    77.6    74.7    73.1  |     1.6       .5      -.2       .9 
           Wood products                                  |          321  |   76.7    81.2    79.8    79.0    78.8  |      .6      2.3      2.3      2.2 
           Nonmetallic mineral products                   |          327  |   73.4    67.9    68.7    69.0    72.1  |      .1       .8      2.3      6.7 
           Primary metals                                 |          331  |   77.7    68.0    72.0    68.7    65.7  |    -1.1     -2.6     -2.5       .0 
           Fabricated metal products                      |          332  |   77.6    78.4    80.6    77.8    74.1  |      .0     -1.0     -2.6     -2.4 
           Machinery                                      |          333  |   77.6    76.5    80.3    75.5    76.3  |     1.9       .3     -1.5      1.4 
           Computer and electronic products               |          334  |   77.4    75.9    74.6    72.0    73.5  |     5.4      2.9      -.5      1.9 
           Electrical equip., appliances,                 |               |                                         |
              and components                              |          335  |   81.6    76.1    76.6    74.3    74.4  |     1.2       .4       .9      2.7 
           Motor vehicles and parts                       |       3361-3  |   75.1    77.0    79.0    72.4    73.6  |      .1      -.8     -1.6     -2.8 
           Aerospace and miscellaneous                    |               |                                         |
              transportation equipment                    |       3364-9  |   74.2    78.9    75.6    77.1    66.1  |     3.5      -.9      1.4      -.8 
           Furniture and related products                 |          337  |   77.1    79.7    82.5    81.3    79.6  |     1.7      4.6      4.9     10.0 
           Miscellaneous                                  |          339  |   76.7    80.1    83.2    78.1    77.4  |      .7      3.7      1.5      5.9 
                                                          |               |                                         |
        Nondurable manufacturing                          |               |   79.9    78.4    77.8    76.6    75.5  |      .7       .0       .4       .4 
           Food, beverage, and tobacco products           |        311,2  |   80.3    78.5    76.5    76.7    76.5  |     1.5       .7      1.3       .6 
           Textile and product mills                      |        313,4  |   78.3    68.7    71.7    69.1    65.3  |    -2.5      -.3       .3       .0 
           Apparel and leather                            |        315,6  |   76.2    66.1    68.4    73.1    74.6  |     1.3      4.2     11.9     13.2 
           Paper                                          |          322  |   86.7    86.1    88.7    86.6    84.1  |     -.5      1.4      1.3      -.2 
           Printing and support                           |          323  |   79.4    75.8    75.0    76.0    71.5  |      .5      2.2      5.6      5.8 
           Petroleum and coal products                    |          324  |   84.7    83.7    83.1    78.5    70.1  |     2.8      2.8      -.5      -.1 
           Chemicals                                      |          325  |   76.6    75.1    74.2    73.1    73.9  |     -.3     -3.7     -3.0     -2.0 
           Plastics and rubber products                   |          326  |   82.0    84.0    86.3    82.3    81.3  |      .3      5.5      6.8      6.6 
                                                          |               |                                         |
     Other manufacturing (non-NAICS)                      |    1133,5111  |   79.5    70.5    70.8    69.1    66.7  |     4.8      9.5     12.0     12.1 
                                                          |               |                                         |
  Mining                                                  |           21  |   86.2    80.7    89.4    83.7    69.6  |    -6.3     -2.8     -5.6     -9.3 
  Utilities                                               |       2211,2  |   85.0    78.8    80.8    78.0    73.4  |     -.4       .8       .8       .5 
                                                          |               |                                         |
  Selected high-technology industries                     |               |   77.4    77.6    76.6    73.6    77.8  |     6.1      3.4       .5      4.5 
     Computers and peripheral equipment                   |         3341  |   78.0    74.3    75.8    68.5    81.9  |      .5      2.6     -4.6      4.5 
     Communications equipment                             |         3342  |   75.5    64.6    63.1    61.5    64.6  |      .4       .0      1.1      7.9 
     Semiconductors and related                           |               |                                         |
           electronic components                          |         3344  |   78.9    84.5    83.4    80.5    84.5  |    10.4      5.3       .7      2.6 
                                                          |               |                                         |
  Measures excluding selected high-technology             |               |                                         |
        industries                                        |               |                                         |
  Total industry                                          |               |   79.7    77.7    79.4    76.7    73.3  |      .0      -.1      -.6      -.6 
     Manufacturing<1>                                     |               |   78.2    77.1    77.5    75.4    73.9  |     1.1       .4       .4       .8 
                                                          |               |                                         |
  Stage-of-process groups                                 |               |                                         |
  Crude                                                   |               |   85.4    81.3    88.1    82.9    72.4  |    -4.7     -2.6     -5.1     -8.0 
  Primary and semifinished                                |               |   80.2    77.9    79.2    76.0    73.4  |     1.0      1.2       .8      1.3 
  Finished                                                |               |   76.8    76.0    75.8    75.0    73.9  |     1.3       .1       .7      1.0 
 --------------------------------------------------------------------------------------------------------------------------------------------------------
 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)         |                                                                                    |                            |
  1991           |   -.7    -.7    -.7     .5     .7     .9     .5     .1    1.0    -.1    -.2    -.2 |  -8.8    1.9    7.4    1.6 |     -1.9 
  1992           |   -.6     .9    1.0     .5     .6     .3     .9    -.5     .1     .6     .4    -.1 |    .5    8.3    4.2    3.1 |      3.7 
                 |                                                                                    |                            |
  1993           |    .9     .3    -.2     .5    -.1    -.1     .2    -.2     .7     .9     .5     .6 |   4.7    1.3     .7    7.2 |      3.5 
  1994           |    .1     .2    1.3     .9     .6     .3     .4     .9     .4     .9     .8    1.1 |   4.9    9.6    6.1   10.0 |      5.9 
  1995           |    .2    -.3     .3    -.3     .3     .5    -.7    1.2     .9    -.1     .1     .4 |   4.4     .8    3.2    4.2 |      5.1 
  1996           |   -.7    1.5    -.2    1.3     .8     .9     .4     .4     .8    -.1     .9     .9 |   1.9   10.1    7.7    5.9 |      4.9 
  1997           |    .1    1.4     .9    -.1     .7     .6     .7    1.2    1.0     .9    1.0     .6 |   9.4    6.9   10.6   11.6 |      8.4 
                 |                                                                                    |                            |
  1998           |    .8     .2    -.2     .5     .5    -.7    -.4    2.4    -.1     .9     .1     .6 |   6.1    2.1    3.3    7.9 |      6.7 
  1999           |    .3     .9     .0     .3     .8    -.2     .4     .6    -.4    1.5     .7     .7 |   5.2    4.3    3.2    8.7 |      5.1 
  2000           |    .0     .3     .6     .6     .0     .2     .1    -.6     .5    -.4    -.3    -.6 |   4.5    4.9    -.4   -2.7 |      4.1 
  2001           |   -.5    -.7    -.2    -.4    -.6    -.6    -.5    -.4    -.4    -.5    -.4     .2 |  -5.9   -5.3   -5.9   -4.0 |     -3.7 
  2002           |    .6     .0     .7     .3     .5    1.0    -.1     .1     .1    -.4     .5    -.6 |   3.5    5.9    3.3    -.5 |       .4 
                 |                                                                                    |                            |
  2003           |    .8    -.1     .1    -.8     .0     .5     .3    -.4     .9     .1     .8     .0 |   2.0   -2.4    2.5    4.4 |      1.3 
  2004           |   -.1     .7     .0     .3     .7    -.7     .9     .5     .0    1.0     .0     .7 |   2.6    3.3    4.0    5.5 |      3.1 
  2005           |    .7     .9    -.5     .4     .3     .1    -.3     .6   -1.1    1.4     .9     .1 |   6.4    2.5    -.6    6.1 |      4.1 
  2006           |    .8    -.3     .0     .4    -.3     .3    -.3     .7     .1    -.5     .1    1.5 |   3.9     .8    1.0    1.5 |      2.6 
  2007           |   -.4     .3     .9     .7    -.1     .3     .0    -.3     .3    -.2     .5     .1 |   4.4    5.8     .4    1.2 |      2.8 
                 |                                                                                    |                            |
  2008           |   -.2    -.7    -.4   -1.0    -.6    -.7   -1.1   -1.2   -3.4    -.7   -2.5   -3.3 |  -2.5   -8.2  -13.7  -21.9 |     -4.8 
  2009           |  -3.2    -.1   -1.9    -.7   -1.1    -.2    1.6    1.1    1.0     .1    1.0    -.2 | -24.7  -10.5    8.6    7.1 |    -13.8 
  2010           |   1.1    -.1    1.3     .8    1.3     .0     .6     .1     .0     .1     .1     .5 |   6.7   10.5    4.3    1.5 |      5.9 
  2011           |    .1     .2     .6    -.5     .0     .1     .6     .5     .3     .5    -.2     .7 |   2.9    -.2    4.4    3.8 |      2.9 
  2012           |    .8     .3    -.5     .5    -.4     .3    -.2    -.1    -.2    -.2     .6     .7 |   5.3     .6   -1.3    1.1 |      2.6 
                 |                                                                                    |                            |
  2013           |   -.3     .4    -.1    -.3     .3     .1    -.8     .9     .1     .1     .0    -.2 |   2.6     .1     .1    1.6 |       .9 
  2014           |  -1.0     .9     .8     .0     .3     .3     .5    -.6     .0    -.1     .7    -.2 |  -1.0    4.6    1.6     .2 |      1.1 
  2015           |   -.5    -.7     .3     .0     .0    -.4     .8    -.5    -.3    -.1    -.3    -.3 |  -3.2    -.7     .6   -2.9 |      -.6 
  2016           |    .5    -.3    -.1    -.2     .0     .2     .2    -.5     .2     .1    -.1     .0 |   -.3   -1.3     .1     .1 |      -.8 
  2017           |    .3    -.1    -.3    1.1    -.1     .0    -.2    -.3     .0    1.0     .0    -.2 |    .3    3.2   -1.8    3.6 |       .6 
                 |                                                                                    |                            |
  2018           |   -.4     .9     .1     .6    -.8     .5     .2     .2     .0    -.5    -.4     .2 |    .5    2.7    1.9   -2.4 |      1.3 
  2019           |   -.7    -.5    -.1    -.8     .1     .2    -.4     .5    -.6    -.7     .7     .0 |  -4.3   -3.5    -.5   -1.9 |     -2.0 
  2020           |   -.2     .0   -4.4  -15.8    4.6    7.3    4.0    1.6     .1    1.5     .6     .7 |  -5.7  -44.7   55.8   11.2 |     -6.6 
  2021           |   1.2   -3.6    3.0     .2                                                         |   1.8                      |          
                 |                                                                                    |                            |
 IP (2017=100)   |                                                                                    |                            |
  1991           |  60.8   60.4   60.0   60.2   60.6   61.2   61.5   61.6   62.2   62.2   62.0   61.9 |  60.4   60.7   61.8   62.0 |     61.2 
  1992           |  61.5   62.1   62.7   63.1   63.4   63.6   64.2   63.9   64.0   64.4   64.6   64.6 |  62.1   63.4   64.0   64.5 |     63.5 
                 |                                                                                    |                            |
  1993           |  65.2   65.4   65.2   65.6   65.5   65.4   65.5   65.4   65.8   66.4   66.7   67.1 |  65.3   65.5   65.6   66.7 |     65.8 
  1994           |  67.2   67.3   68.1   68.8   69.2   69.4   69.6   70.2   70.5   71.2   71.8   72.5 |  67.5   69.1   70.1   71.8 |     69.6 
  1995           |  72.7   72.5   72.7   72.5   72.7   73.0   72.5   73.4   74.1   74.0   74.0   74.3 |  72.6   72.7   73.3   74.1 |     73.2 
  1996           |  73.8   74.8   74.7   75.6   76.2   76.9   77.2   77.6   78.2   78.1   78.8   79.5 |  74.4   76.2   77.7   78.8 |     76.8 
  1997           |  79.6   80.7   81.5   81.4   82.0   82.5   83.1   84.1   84.9   85.7   86.5   87.0 |  80.6   81.9   84.0   86.4 |     83.2 
                 |                                                                                    |                            |
  1998           |  87.6   87.8   87.6   88.0   88.5   87.8   87.4   89.6   89.5   90.3   90.4   90.9 |  87.7   88.1   88.8   90.5 |     88.8 
  1999           |  91.2   92.0   92.0   92.3   93.0   92.8   93.2   93.8   93.3   94.7   95.4   96.0 |  91.7   92.7   93.4   95.4 |     93.3 
  2000           |  96.1   96.3   96.9   97.6   97.6   97.7   97.8   97.1   97.6   97.2   96.9   96.4 |  96.4   97.6   97.5   96.9 |     97.1 
  2001           |  95.9   95.2   95.0   94.7   94.1   93.5   93.0   92.6   92.3   91.9   91.5   91.8 |  95.4   94.1   92.7   91.7 |     93.5 
  2002           |  92.3   92.3   93.0   93.3   93.7   94.6   94.5   94.6   94.7   94.4   94.9   94.3 |  92.5   93.9   94.6   94.5 |     93.9 
                 |                                                                                    |                            |
  2003           |  95.0   94.9   95.0   94.3   94.3   94.7   95.0   94.6   95.4   95.5   96.3   96.3 |  95.0   94.4   95.0   96.0 |     95.1 
  2004           |  96.2   96.9   96.9   97.2   97.9   97.2   98.1   98.6   98.6   99.5   99.5  100.2 |  96.7   97.5   98.4   99.7 |     98.1 
  2005           | 100.9  101.8  101.3  101.7  102.0  102.1  101.8  102.3  101.2  102.7  103.6  103.7 | 101.3  101.9  101.8  103.3 |    102.1 
  2006           | 104.5  104.2  104.2  104.6  104.3  104.6  104.2  105.0  105.1  104.6  104.7  106.2 | 104.3  104.5  104.8  105.2 |    104.7 
  2007           | 105.8  106.1  107.0  107.8  107.7  108.0  108.0  107.7  108.0  107.8  108.4  108.5 | 106.3  107.8  107.9  108.3 |    107.6 
                 |                                                                                    |                            |
  2008           | 108.2  107.5  107.0  106.0  105.3  104.6  103.5  102.2   98.8   98.1   95.7   92.5 | 107.6  105.3  101.5   95.4 |    102.4 
  2009           |  89.5   89.4   87.7   87.1   86.2   86.0   87.3   88.3   89.1   89.2   90.1   90.0 |  88.9   86.4   88.2   89.8 |     88.3 
  2010           |  90.9   90.8   92.0   92.7   93.9   93.9   94.4   94.5   94.6   94.6   94.8   95.2 |  91.2   93.5   94.5   94.9 |     93.5 
  2011           |  95.3   95.4   96.0   95.5   95.5   95.6   96.2   96.6   96.9   97.3   97.2   97.8 |  95.6   95.5   96.5   97.5 |     96.3 
  2012           |  98.7   99.0   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 |     98.8 
                 |                                                                                    |                            |
  2013           |  99.2   99.6   99.6   99.3   99.6   99.7   98.9   99.8   99.9  100.0  100.0   99.8 |  99.5   99.5   99.6   99.9 |     99.6 
  2014           |  98.8   99.7  100.6  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  100.1  100.4  100.4  100.4  100.0  100.8  100.4  100.0  100.0   99.7   99.4 | 100.4  100.3  100.4   99.7 |    100.2 
  2016           |  99.9   99.5   99.4   99.3   99.2   99.4   99.6   99.1   99.3   99.4   99.3   99.3 |  99.6   99.3   99.3   99.3 |     99.4 
  2017           |  99.6   99.5   99.2  100.3  100.2  100.1   99.9   99.6   99.7  100.7  100.7  100.5 |  99.4  100.2   99.7  100.6 |    100.0 
                 |                                                                                    |                            |
  2018           | 100.1  101.0  101.2  101.8  101.0  101.5  101.8  102.0  102.0  101.5  101.1  101.3 | 100.8  101.4  101.9  101.3 |    101.3 
  2019           | 100.6  100.0   99.9   99.2   99.2   99.4   99.0   99.5   98.9   98.2   98.9   98.9 | 100.2   99.3   99.2   98.7 |     99.3 
  2020           |  98.7   98.7   94.3   79.4   83.1   89.1   92.7   94.1   94.2   95.6   96.2   96.8 |  97.2   83.8   93.7   96.2 |     92.7 
  2021           |  98.0   94.5   97.3   97.5                                                         |  96.6                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from December 2020 through April 2021 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)    |                                                                                    |                            |
  1991           |  77.4   77.5   77.6   77.6   77.7   77.8   77.9   78.0   78.1   78.2   78.3   78.4 |  77.5   77.7   78.0   78.3 |     77.9 
  1992           |  78.6   78.8   79.0   79.1   79.3   79.5   79.8   80.0   80.1   80.3   80.5   80.7 |  78.8   79.3   79.9   80.5 |     79.6 
                 |                                                                                    |                            |
  1993           |  80.8   81.0   81.1   81.3   81.4   81.5   81.6   81.8   81.9   82.1   82.2   82.4 |  81.0   81.4   81.8   82.3 |     81.6 
  1994           |  82.6   82.8   83.1   83.3   83.6   83.8   84.1   84.4   84.7   85.0   85.3   85.6 |  82.8   83.6   84.4   85.3 |     84.0 
  1995           |  86.0   86.3   86.7   87.0   87.4   87.7   88.1   88.5   88.9   89.4   89.8   90.3 |  86.3   87.4   88.5   89.8 |     88.0 
  1996           |  90.7   91.2   91.7   92.2   92.7   93.2   93.7   94.2   94.7   95.2   95.8   96.3 |  91.2   92.7   94.2   95.8 |     93.5 
  1997           |  96.8   97.4   97.9   98.5   99.1   99.7  100.4  101.0  101.7  102.4  103.2  103.9 |  97.4   99.1  101.0  103.2 |    100.2 
                 |                                                                                    |                            |
  1998           | 104.7  105.5  106.2  107.0  107.8  108.5  109.2  109.9  110.5  111.1  111.7  112.3 | 105.5  107.8  109.8  111.7 |    108.7 
  1999           | 112.9  113.4  114.0  114.5  115.0  115.5  116.0  116.5  117.0  117.4  117.9  118.4 | 113.4  115.0  116.5  117.9 |    115.7 
  2000           | 118.9  119.4  119.9  120.4  120.9  121.3  121.8  122.3  122.8  123.3  123.7  124.2 | 119.4  120.9  122.3  123.7 |    121.6 
  2001           | 124.6  125.1  125.5  125.9  126.2  126.6  126.9  127.1  127.4  127.6  127.8  128.0 | 125.1  126.2  127.1  127.8 |    126.6 
  2002           | 128.1  128.2  128.3  128.4  128.4  128.5  128.5  128.5  128.5  128.5  128.5  128.5 | 128.2  128.4  128.5  128.5 |    128.4 
                 |                                                                                    |                            |
  2003           | 128.5  128.5  128.5  128.5  128.5  128.4  128.4  128.4  128.4  128.3  128.3  128.2 | 128.5  128.5  128.4  128.3 |    128.4 
  2004           | 128.2  128.2  128.1  128.1  128.0  128.0  128.0  128.0  128.1  128.2  128.3  128.4 | 128.2  128.0  128.1  128.3 |    128.1 
  2005           | 128.6  128.8  129.0  129.3  129.5  129.8  130.0  130.3  130.6  130.8  131.1  131.3 | 128.8  129.5  130.3  131.1 |    129.9 
  2006           | 131.5  131.8  132.0  132.2  132.4  132.6  132.9  133.1  133.4  133.7  134.0  134.3 | 131.8  132.4  133.1  134.0 |    132.8 
  2007           | 134.7  135.0  135.4  135.8  136.2  136.5  136.9  137.2  137.4  137.6  137.8  137.9 | 135.1  136.2  137.2  137.8 |    136.5 
                 |                                                                                    |                            |
  2008           | 138.0  138.0  137.9  137.8  137.7  137.6  137.4  137.2  137.1  136.9  136.7  136.5 | 138.0  137.7  137.2  136.7 |    137.4 
  2009           | 136.3  136.1  135.9  135.7  135.6  135.4  135.2  135.0  134.8  134.7  134.5  134.3 | 136.1  135.6  135.0  134.5 |    135.3 
  2010           | 134.1  133.9  133.7  133.4  133.2  133.0  132.7  132.5  132.3  132.1  131.9  131.7 | 133.9  133.2  132.5  131.9 |    132.9 
  2011           | 131.5  131.4  131.3  131.2  131.1  131.1  131.1  131.2  131.2  131.3  131.5  131.6 | 131.4  131.2  131.2  131.5 |    131.3 
  2012           | 131.7  131.9  132.0  132.2  132.3  132.5  132.6  132.8  132.9  133.1  133.2  133.3 | 131.9  132.3  132.8  133.2 |    132.5 
                 |                                                                                    |                            |
  2013           | 133.4  133.5  133.6  133.6  133.7  133.7  133.7  133.7  133.7  133.7  133.7  133.6 | 133.5  133.7  133.7  133.7 |    133.6 
  2014           | 133.6  133.5  133.5  133.4  133.3  133.2  133.1  133.0  132.9  132.7  132.6  132.4 | 133.5  133.3  133.0  132.6 |    133.1 
  2015           | 132.3  132.2  132.0  131.9  131.8  131.7  131.7  131.7  131.6  131.6  131.7  131.7 | 132.2  131.8  131.7  131.7 |    131.8 
  2016           | 131.8  131.9  131.9  132.0  132.1  132.2  132.2  132.3  132.3  132.3  132.2  132.2 | 131.9  132.1  132.3  132.2 |    132.1 
  2017           | 132.1  131.9  131.8  131.6  131.5  131.3  131.1  130.9  130.8  130.6  130.5  130.4 | 131.9  131.5  131.0  130.5 |    131.2 
                 |                                                                                    |                            |
  2018           | 130.4  130.3  130.3  130.3  130.3  130.3  130.4  130.5  130.5  130.6  130.7  130.8 | 130.3  130.3  130.5  130.7 |    130.4 
  2019           | 130.9  130.9  131.0  131.0  131.0  131.0  131.0  131.0  131.0  131.0  130.9  130.8 | 130.9  131.0  131.0  130.9 |    131.0 
  2020           | 130.8  130.7  130.6  130.5  130.4  130.4  130.3  130.2  130.1  130.1  130.0  130.0 | 130.7  130.4  130.2  130.0 |    130.3 
  2021           | 130.0  129.9  129.9  129.9                                                         | 129.9                      |          
                 |                                                                                    |                            |
 Utilization     |                                                                                    |                            |
 (percent)       |                                                                                    |                            |
  1991           |  78.6   78.0   77.3   77.6   78.0   78.7   79.0   79.0   79.7   79.5   79.2   78.9 |  78.0   78.1   79.2   79.2 |     78.6 
  1992           |  78.3   78.8   79.4   79.7   79.9   80.0   80.5   79.9   79.8   80.1   80.2   80.0 |  78.8   79.9   80.1   80.1 |     79.7 
                 |                                                                                    |                            |
  1993           |  80.6   80.7   80.4   80.7   80.4   80.2   80.3   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   82.1   82.5   82.8   82.7   82.8   83.2   83.3   83.7   84.1   84.7 |  81.5   82.7   83.1   84.2 |     82.9 
  1995           |  84.5   84.0   83.9   83.3   83.2   83.3   82.3   82.9   83.3   82.8   82.4   82.3 |  84.1   83.3   82.8   82.5 |     83.2 
  1996           |  81.3   82.1   81.4   82.0   82.2   82.5   82.4   82.3   82.6   82.0   82.3   82.6 |  81.6   82.2   82.5   82.3 |     82.2 
  1997           |  82.2   82.9   83.2   82.6   82.7   82.7   82.8   83.3   83.5   83.6   83.8   83.7 |  82.8   82.7   83.2   83.7 |     83.1 
                 |                                                                                    |                            |
  1998           |  83.7   83.2   82.5   82.3   82.1   80.9   80.1   81.5   81.0   81.3   80.9   81.0 |  83.1   81.8   80.9   81.1 |     81.7 
  1999           |  80.8   81.1   80.7   80.6   80.9   80.3   80.3   80.5   79.8   80.7   80.9   81.1 |  80.9   80.6   80.2   80.9 |     80.6 
  2000           |  80.8   80.7   80.9   81.0   80.7   80.5   80.3   79.4   79.5   78.9   78.4   77.6 |  80.8   80.8   79.7   78.3 |     79.9 
  2001           |  76.9   76.1   75.7   75.2   74.5   73.9   73.3   72.9   72.5   72.0   71.6   71.7 |  76.3   74.5   72.9   71.8 |     73.9 
  2002           |  72.1   72.0   72.4   72.6   73.0   73.7   73.6   73.6   73.7   73.4   73.8   73.4 |  72.2   73.1   73.6   73.5 |     73.1 
                 |                                                                                    |                            |
  2003           |  74.0   73.9   73.9   73.4   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   76.6   77.0   76.9   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   78.7   78.7   78.3   78.5   77.5   78.5   79.0   78.9 |  78.6   78.7   78.1   78.8 |     78.6 
  2006           |  79.4   79.1   79.0   79.1   78.8   78.9   78.5   78.9   78.8   78.2   78.1   79.1 |  79.2   78.9   78.7   78.5 |     78.8 
  2007           |  78.5   78.6   79.0   79.4   79.1   79.1   78.9   78.5   78.6   78.4   78.7   78.7 |  78.7   79.2   78.7   78.6 |     78.8 
                 |                                                                                    |                            |
  2008           |  78.4   77.9   77.6   76.9   76.5   76.0   75.3   74.5   72.1   71.7   70.0   67.7 |  78.0   76.5   73.9   69.8 |     74.5 
  2009           |  65.7   65.7   64.5   64.2   63.6   63.5   64.6   65.4   66.1   66.2   67.0   67.0 |  65.3   63.8   65.4   66.7 |     65.3 
  2010           |  67.8   67.8   68.8   69.5   70.5   70.6   71.2   71.4   71.5   71.7   71.9   72.3 |  68.1   70.2   71.3   71.9 |     70.4 
  2011           |  72.4   72.6   73.1   72.8   72.8   72.9   73.3   73.6   73.8   74.1   73.9   74.4 |  72.7   72.8   73.6   74.1 |     73.3 
  2012           |  74.9   75.1   74.6   74.9   74.6   74.7   74.4   74.2   74.0   73.8   74.2   74.6 |  74.9   74.7   74.2   74.2 |     74.5 
                 |                                                                                    |                            |
  2013           |  74.4   74.6   74.5   74.3   74.5   74.6   74.0   74.6   74.7   74.8   74.8   74.7 |  74.5   74.5   74.5   74.8 |     74.6 
  2014           |  74.0   74.7   75.4   75.4   75.6   75.9   76.4   76.0   76.0   76.0   76.6   76.5 |  74.7   75.6   76.1   76.4 |     75.7 
  2015           |  76.2   75.7   76.0   76.1   76.2   75.9   76.6   76.2   76.0   75.9   75.7   75.4 |  76.0   76.1   76.3   75.7 |     76.0 
  2016           |  75.8   75.5   75.4   75.2   75.1   75.2   75.3   74.9   75.0   75.1   75.1   75.2 |  75.5   75.2   75.1   75.1 |     75.2 
  2017           |  75.4   75.4   75.3   76.2   76.2   76.3   76.2   76.1   76.2   77.1   77.2   77.0 |  75.4   76.2   76.2   77.1 |     76.2 
                 |                                                                                    |                            |
  2018           |  76.8   77.5   77.6   78.1   77.5   77.9   78.0   78.2   78.1   77.7   77.3   77.5 |  77.3   77.8   78.1   77.5 |     77.7 
  2019           |  76.8   76.4   76.3   75.7   75.7   75.9   75.6   76.0   75.5   75.0   75.6   75.6 |  76.5   75.8   75.7   75.4 |     75.8 
  2020           |  75.5   75.5   72.2   60.8   63.7   68.3   71.2   72.3   72.4   73.5   74.0   74.5 |  74.4   64.3   71.9   74.0 |     71.2 
  2021           |  75.4   72.7   74.9   75.1                                                         |  74.4                      |          
 ---------------------------------------------------------------------------------------------------------------------------------------------
 Note: Estimates from December 2020 through April 2021 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 |       2013        2014        2015        2016        2017        2018        2019        2020 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                            |               |
  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                 |               |       51.3        52.6        55.8        56.7        56.0        55.6        56.7        56.6 
     Consumer goods                                         |               |       24.2        24.8        27.2        28.3        27.6        27.1        27.6        28.4 
        Durable                                             |               |        5.0         5.4         6.1         6.4         6.1         6.0         6.1         6.0 
           Automotive products                              |               |        2.6         2.8         3.3         3.6         3.4         3.4         3.4         3.2 
           Home electronics                                 |               |         .2          .2          .2          .2          .1          .1          .2          .2 
           Appliances, furniture, carpeting                 |               |         .8          .8          .9          .9          .9          .9          .9          .9 
           Miscellaneous goods                              |               |        1.5         1.6         1.7         1.8         1.6         1.6         1.7         1.7 
        Nondurable                                          |               |       19.1        19.4        21.1        21.9        21.5        21.1        21.5        22.4 
           Non-energy                                       |               |       14.4        14.9        16.5        17.0        16.2        15.7        16.3        16.9 
              Foods and tobacco                             |               |        8.4         8.6         9.4         9.8         9.5         9.1         9.5         9.9 
              Clothing                                      |               |         .2          .2          .2          .2          .2          .2          .2          .2 
              Chemical products                             |               |        4.4         4.7         5.4         5.5         5.1         5.0         5.2         5.3 
              Paper products                                |               |         .9          .9         1.0         1.0          .9          .9          .9         1.0 
           Energy                                           |               |        4.8         4.6         4.6         4.9         5.3         5.4         5.1         5.5 
                                                            |               |
     Business equipment                                     |               |        9.6        10.0        10.3        10.0        10.2        10.2        10.2         9.2 
        Transit                                             |               |        2.3         2.6         2.9         2.8         3.1         3.1         3.0         2.1 
        Information processing                              |               |        2.1         2.0         2.2         2.1         2.1         2.0         2.0         2.1 
        Industrial and other                                |               |        5.2         5.3         5.3         5.1         5.0         5.1         5.2         5.0 
     Defense and space equipment                            |               |        2.2         2.2         2.2         2.2         2.2         2.2         2.6         2.8 
                                                            |               |
     Construction supplies                                  |               |        3.8         4.0         4.4         4.6         4.6         4.6         4.7         5.0 
     Business supplies                                      |               |       10.4        10.5        10.9        11.1        10.8        10.7        10.8        10.7 
                                                            |               |
  Materials                                                 |               |       48.7        47.4        44.2        43.3        44.0        44.4        43.3        43.4 
     Non-energy                                             |               |       26.5        27.1        28.3        28.5        27.9        27.5        27.3        27.4 
        Durable                                             |               |       16.2        16.9        17.4        17.5        17.1        17.0        17.0        16.7 
           Consumer parts                                   |               |        2.8         3.0         3.2         3.2         3.1         3.0         2.8         2.5 
           Equipment parts                                  |               |        5.0         5.3         5.3         5.1         5.0         4.9         5.0         4.9 
           Other                                            |               |        8.4         8.6         9.0         9.2         9.1         9.1         9.2         9.4 
        Nondurable                                          |               |       10.2        10.3        10.8        11.0        10.8        10.5        10.3        10.7 
           Textile                                          |               |         .4          .4          .4          .4          .4          .4          .4          .4 
           Paper                                            |               |        1.8         1.8         1.9         1.9         1.8         1.7         1.7         1.6 
           Chemical                                         |               |        5.0         5.0         5.2         5.4         5.4         5.2         4.9         5.3 
     Energy                                                 |               |       22.3        20.3        16.0        14.7        16.1        16.9        16.0        16.0 
                                                            |               |
                                                            |               |
  INDUSTRY GROUP                                            |               |
  Manufacturing                                             |               |       70.8        72.4        76.9        78.1        76.8        75.9        76.4        75.9 
     Manufacturing (NAICS)                                  |        31-33  |       68.5        70.1        74.5        75.8        74.6        73.8        74.3        73.9 
                                                            |               |
        Durable manufacturing                               |               |       36.3        37.7        39.5        39.6        39.0        38.9        39.3        38.1 
           Wood products                                    |          321  |        1.1         1.2         1.3         1.4         1.4         1.4         1.4         1.7 
           Nonmetallic mineral products                     |          327  |        1.7         1.9         2.1         2.2         2.1         2.1         2.2         2.3 
           Primary metals                                   |          331  |        2.6         2.6         2.5         2.6         2.6         2.6         2.4         2.3 
           Fabricated metal products                        |          332  |        5.4         5.6         5.8         5.7         5.7         5.8         6.0         6.0 
           Machinery                                        |          333  |        5.6         5.8         5.7         5.4         5.4         5.5         5.5         5.4 
           Computer and electronic products                 |          334  |        5.2         5.1         5.2         5.2         5.1         5.0         5.0         5.0 
           Electrical equip., appliances,                   |               |
              and components                                |          335  |        1.7         1.8         1.9         1.9         1.8         1.8         1.9         1.9 
           Motor vehicles and parts                         |       3361-3  |        4.6         5.1         5.8         6.1         5.7         5.7         5.6         4.9 
           Aerospace and miscellaneous                      |               |
              transportation equipment                      |       3364-9  |        4.4         4.7         5.0         4.8         5.1         5.0         5.3         4.8 
           Furniture and related products                   |          337  |        1.0         1.1         1.2         1.3         1.2         1.2         1.2         1.2 
           Miscellaneous                                    |          339  |        2.9         2.8         3.0         3.0         2.8         2.8         2.9         2.8 
                                                            |               |
        Nondurable manufacturing                            |               |       32.2        32.5        35.0        36.2        35.6        34.9        35.0        35.7 
           Food, beverage, and tobacco products             |        311,2  |       10.3        10.6        11.6        12.1        11.6        11.4        11.9        12.4 
           Textile and product mills                        |        313,4  |         .7          .7          .7          .7          .7          .6          .7          .6 
           Apparel and leather                              |        315,6  |         .2          .2          .2          .2          .2          .2          .2          .2 
           Paper                                            |          322  |        2.5         2.5         2.6         2.6         2.5         2.4         2.4         2.4 
           Printing and support                             |          323  |        1.4         1.4         1.5         1.5         1.5         1.4         1.4         1.3 
           Petroleum and coal products                      |          324  |        3.2         2.9         2.8         2.9         3.7         3.8         3.4         3.3 
           Chemicals                                        |          325  |       10.9        11.1        12.1        12.4        11.9        11.5        11.4        11.9 
           Plastics and rubber products                     |          326  |        3.0         3.2         3.5         3.7         3.5         3.5         3.6         3.5 
                                                            |               |
     Other manufacturing (non-NAICS)                        |    1133,5111  |        2.3         2.3         2.4         2.4         2.2         2.1         2.1         2.0 
                                                            |               |
  Mining                                                    |           21  |       19.7        17.4        12.3        10.7        12.4        13.4        12.5        12.2 
  Utilities                                                 |       2211,2  |        9.6        10.1        10.8        11.1        10.8        10.7        11.1        11.9 
     Electric                                               |         2211  |        8.5         8.9         9.5         9.7         9.3         9.3         9.7        10.3 
     Natural gas                                            |         2212  |        1.1         1.2         1.3         1.5         1.5         1.4         1.5         1.7 
 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 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 2020 and 2021 would
       account for a .381 percent increase in total IP.
 
 
 
 Table 9
 Industrial Production and Capacity Utilization:  SUMMARY
 Seasonally adjusted
 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |                             2017=100                              |                                   Percent change
                                    | ----------------------------------------------------------------- | -----------------------------------------------------------------------------------
                                    |      2020                  2021                                   |      2020                  2021                                   |    Apr. '20 to 
 Industrial production              |   Nov.[r]    Dec.[r]    Jan.[r]    Feb.[r]    Mar.[r]    Apr.[r]  |   Nov.[r]    Dec.[r]    Jan.[r]    Feb.[r]    Mar.[r]    Apr.[r]  |      Apr. '21 
 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                    |                                                                   |                                                                   |
  Total index                       |      97.2       98.3       99.3       96.4       98.5       99.0  |        .5        1.2        1.0       -2.9        2.2         .5  |           17.6 
     Previous estimates             |     104.8      105.9      106.8      103.1      105.6      106.3  |        .9        1.1         .9       -3.5        2.4         .7  |           16.5 
                                    |                                                                   |                                                                   |
  Major market groups               |                                                                   |                                                                   |
  Final Products                    |      97.2       98.7       99.7       97.8       99.1       99.5  |        .5        1.5        1.0       -2.0        1.4         .4  |           23.8 
     Consumer goods                 |      98.3      100.4      100.8       98.3       99.0       99.5  |        .1        2.2         .4       -2.5         .7         .5  |           18.5 
     Business equipment             |      91.2       91.6       93.4       91.5       94.1       94.1  |       1.1         .4        2.0       -2.0        2.9         .0  |           44.2 
  Nonindustrial supplies            |      95.0       96.1       96.5       94.6       96.2       96.1  |        .1        1.2         .4       -2.0        1.6        -.1  |           14.4 
     Construction                   |      98.7      100.3      101.0       97.5      101.8      100.5  |        .5        1.7         .7       -3.4        4.4       -1.3  |           15.0 
  Materials                         |      97.7       98.6       99.8       95.5       98.5       99.5  |        .8         .9        1.2       -4.2        3.1         .9  |           13.0 
                                    |                                                                   |                                                                   |
  Major industry groups             |                                                                   |                                                                   |
  Manufacturing (see note below)    |      96.2       96.8       98.0       94.5       97.3       97.5  |        .6         .7        1.2       -3.6        3.0         .2  |           22.9 
     Previous estimates             |     101.8      102.6      103.8       99.7      102.8      103.2  |        .9         .7        1.2       -4.0        3.1         .4  |           23.0 
                                    |                                                                   |                                                                   |
  Mining                            |     100.3      100.4      103.6       95.0      103.2      104.2  |       3.5         .1        3.2       -8.3        8.6         .9  |            1.2 
  Utilities                         |      97.8      103.5      100.8      107.7       98.1      100.6  |      -2.5        5.8       -2.6        6.9       -8.9        2.5  |            1.3 
 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  |                                                                                                                                             |    Capacity
                                  |                                                             Percent of capacity                                                             |     growth
                                  | ------------------------------------------------------------------------------------------------------------------------------------------- | ---------------
                                  |     Average       1988-       1990-       1994-       2008-             |                                                                   |                
                                  |       1972-          89          91          95          09       2020  |      2020                  2021                                   |    Apr. '20 to 
 Capacity utilization             |       2020         high         low        high         low       Apr.  |   Nov.[r]    Dec.[r]    Jan.[r]    Feb.[r]    Mar.[r]    Apr.[r]  |      Apr. '21 
 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                  |                                                                         |                                                                   |
  Total industry                  |       79.6        85.2        78.8        85.1        66.6        63.4  |      73.3       74.2       74.9       72.7       74.2       74.6  |            -.1 
     Previous estimates           |       79.6        85.1        78.8        85.0        66.7        64.2  |      73.9       74.7       75.3       72.7       74.4       74.9  |            -.1 
                                  |                                                                         |                                                                   |
  Manufacturing (see note below)  |       78.2        85.6        77.3        84.7        63.5        60.8  |      74.0       74.5       75.4       72.7       74.9       75.1  |            -.5 
     Previous estimates           |       78.1        85.5        77.3        84.6        63.7        60.1  |      73.1       73.7       74.6       71.6       73.8       74.1  |            -.2 
  Mining                          |       86.2        86.0        83.8        88.3        78.3        71.7  |      70.3       70.6       73.0       67.0       72.9       73.7  |           -1.6 
  Utilities                       |       85.0        93.1        84.6        93.2        78.0        73.8  |      71.4       75.4       73.2       78.1       71.0       72.6  |            2.8 
                                  |                                                                         |                                                                   |
  Stage-of-process groups         |                                                                         |                                                                   |
  Crude                           |       85.4        87.7        84.6        89.7        76.5        72.1  |      73.0       73.2       74.7       67.0       72.4       73.9  |           -1.0 
  Primary and semifinished        |       80.2        86.5        78.1        87.9        63.5        64.7  |      72.8       74.2       74.3       73.8       73.7       74.0  |             .2 
  Finished                        |       76.8        83.4        77.5        80.7        66.5        59.1  |      73.9       74.5       75.7       73.7       75.6       75.6  |            -.4 
 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 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 6 percent.  If output in this industry increased 10 percent in a month,
 then this gain would boost growth in total IP by 6/10 percentage point
 (0.06 x 10% = 0.6%).  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, 93
 percent in the third month, 97 percent in the fourth month, 98 percent
 in the fifth month, and 98 percent in the sixth month. Data
 availability by data type in 2020 is summarized in the table
 below:
 
   Availability of Monthly IP Data in Publication Window
   (Percent of value added in 2020; the numbers may not sum because of rounding.) 
     Type of data                1st  2nd  3rd  4th  5th  6th 
       Physical product            31   40   50   54   55   55
       Production-worker hours     43   43   43   43   43   43
       IP data received            74   83   93   97   98   98
       IP data estimated           26   17   7    3    2    2
 
 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 55 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 2021;
 for other series, the factors were estimated with data through at least
 December 2020.  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 1987-2020 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 1987-2020 period.  In most cases (about
 85.57 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 26 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 68 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 6 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 1972-2020 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 May 28, 2021, 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 2021, the G.17 will be published at 9:15 a.m. on:
 
 January 15, February 17, March 16, April 15, May 14, June 15,
 July 15, August 17, September 15, October 18, November 16, and December 16.
 
 This release schedule is available on the Board's website at
 http://www.federalreserve.gov/releases/g17.