Industrial Production – December 2008

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Industrial Production At a Glance

Industrial Production Index: 103.6
(Base year 2002, Seasonally Adjusted)
Monthly Change: Down 2%
Manufacturing Change: Down 2.3%
Mining Change: Down 1.6%
Utilities Change: No change
Capacity Utilization: 73.6%
Long Run Average Capacity Utilization: 81%

Technorati Tags: industrial, production, capacity, utilization, manufacturing, mining, utilities

FEDERAL RESERVE STATISTICAL RELEASE

G.17 (419) For release at 9:15 a.m. (EST)
January 16, 2009

Industrial Production and Capacity Utilization

Industrial production fell 2.0 percent in December, and declines were again widespread. Output was
revised up in October, but it was revised down in November; for the fourth quarter as a whole, total
industrial production decreased 11.5 percent at an annual rate. At 103.6 percent of its 2002 average,
output in December was 7.8 percent below its year-earlier level. In December, manufacturing production
dropped 2.3 percent. The output of mines moved down 1.6 percent, and the output of electric and gas
utilities was little changed. Capacity utilization for total industry fell to 73.6 percent in December, a
level 7.4 percentage points below its average level from 1972 to 2007.

Market Groups
————-

The production of consumer goods declined 1.7 percent in December and contracted at an annual rate of 2.8
percent in the fourth quarter. In December, the production of consumer durables tumbled 4.7 percent, and
the index for nondurables moved down 1.0 percent. Among durables, the production of automotive products
fell 7.0 percent. Output also dropped in all the other major categories of consumer durable goods: home
electronics; appliances, furniture, and carpeting; and miscellaneous goods. The production of nondurable
non-energy consumer goods fell 1.5 percent in December, its first decrease since August. The indexes for
foods and tobacco, clothing, paper products, and chemical products all moved lower. After a drop in
November, the index for consumer energy goods edged up 0.2 percent in December.

Although the index for business equipment moved up 1.8 percent in December, it fell at an annual rate of
more than 19 percent in the fourth quarter. The output of commercial aircraft, which surged in December to
a bit above its pre-strike level, provided a boost to transit equipment. However, for the fourth quarter
as a whole, the production of transit equipment plunged 33.1 percent at an annual rate primarily because of
cuts in motor vehicle production and the strike in commercial aircraft. In December, the output of
information processing equipment declined for a sixth consecutive month, dropping 1.5 percent, and the
production of industrial and other equipment fell for a fourth month to an index 9.8 percent below its
year-earlier reading.

The output of defense and space equipment declined 0.7 percent and was 3.5 percent below its level 12
months earlier.

Among nonindustrial supplies, the production of construction supplies moved down 3.4 percent. Over the 12
months ending in December, this index declined 14 percent, its third consecutive annual decline. The
output of business supplies fell 2.1 percent in December and was more than 7 percent below its year-earlier
level.

Materials output fell 2.8 percent and was down 14.4 percent at an annual rate in the fourth quarter.
After two months of gains, the production of energy materials decreased 0.6 percent in December. The
production of durable materials fell for the fifth consecutive month, down 4.7 percent. The index for
consumer parts decreased 5.7 percent, in large part because of declines in the output of motor vehicle
parts. The index for equipment parts dropped 4.0 percent, and the output of other durable materials fell
5.0 percent. The production of nondurable materials decreased 3.4 percent; the indexes for textile, paper,
and chemical materials all moved lower.

Industry Groups
—————

Manufacturing output fell 2.3 percent in December to a level almost 10 percent below that of 12 months
earlier. For the fourth quarter as a whole, manufacturing output contracted at an annual rate of more than
16 percent. In December, the factory operating rate moved down 1.7 percentage points, to 70.2 percent, a
level 9.5 percentage points below its 1972 to 2007 average. The production of durable goods industries
declined 2.6 percent in December. Output fell in every major category of durable goods with the exception
of aerospace and miscellaneous transportation equipment. The jump in this index reflected the further
recovery of output from the strike in commercial aircraft. The production of nondurable goods moved down
2.1 percent, and declines were recorded in all the major nondurable goods indexes.

The index for the other manufacturing category, which consists of publishing and logging, decreased 2.1
percent in December and was down 5.0 percent at an annual rate in the fourth quarter.

The output of electric and gas utilities was little changed in December, and the operating rate moved down
0.3 percentage point to 84.0 percent, a rate 2.8 percentage points below its 1972-2007 average. Mining
output declined 1.6 percent in December but rose for the quarter as a whole. The utilization rate in
mining fell 1.5 percentage points, to 89.3 percent, a rate 1.8 percentage points above its 1972-2007
average.

Capacity utilization rates in December at industries grouped by stage of process were as follows: At the
crude stage, utilization decreased 1.8 percentage points to 83.9 percent, a rate 2.7 percentage points
below its 1972-2007 average; at the primary and semifinished stages, utilization moved down 2.0 percentage
points, to 72.1 percent, a rate more than 10 percentage points below its long-run average; and at the
finished stage, utilization declined 1.0 percentage point, to 71.4 percent, a rate 6.3 percentage points
below its long-run average.

Notice

Revision of Industrial Production and Capacity Utilization

The Federal Reserve Board plans to issue its annual revision to the index of industrial production (IP)
and the related measures of capacity utilization on March 27, 2009. The revised IP indexes will
incorporate data from selected editions of the U.S. Census Bureau’s 2007 Current Industrial Reports.
Detailed data from the 2007 Economic Census, however, are not expected to be available. Annual data from
the U.S. Geological Survey regarding metallic and nonmetallic minerals (except fuels) for 2007 will also be
incorporated. The update will include revisions to the monthly indicator (either product data or input
data) and to seasonal factors for each industry as well as changes in the estimation methods for some
series. Any changes to the methods for estimating the output of an industry will affect the index from
1972 to the present.

Capacity and capacity utilization will be revised to incorporate data from the Census Bureau’s Quarterly
Survey of Plant Capacity, which covers manufacturing, along with new data on capacity from the U.S.
Geological Survey, the Department of Energy, and other organizations.

Once the revision is published, it will be available on the Board’s website at
www.federalreserve.gov/releases/G17. The revised data will also be available through the website of the
Department of Commerce. Further information on the revision can be obtained from the Board’s Industrial
Output Section (telephone number 202-452-3197).

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARY
Seasonally adjusted
——————————————————————————————————————————————————————————————
| 2002=100 | Percent change
| —————————————————————– | ———————————————————————————–
| 2008 | 2008 | Dec. ‘07 to
Industrial production | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p] | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p] | Dec. ‘08
——————————————————————————————————————————————————————————————
| | |
Total index | 111.2 109.8 105.2 107.1 105.7 103.6 | .0 -1.3 -4.2 1.8 -1.3 -2.0 | -7.8
Previous estimates | 111.3 109.8 105.2 106.8 106.1 | .0 -1.3 -4.1 1.5 -.6 |
| | |
Major market groups | | |
Final Products | 112.2 110.5 107.4 108.6 108.4 107.3 | -.3 -1.6 -2.7 1.1 -.2 -1.0 | -5.4
Consumer goods | 106.1 103.8 102.3 104.6 103.6 101.8 | -.1 -2.1 -1.5 2.3 -1.0 -1.7 | -5.2
Business equipment | 129.8 129.3 119.9 116.8 120.2 122.4 | -.4 -.4 -7.3 -2.6 2.9 1.8 | -6.7
Nonindustrial supplies | 105.9 105.0 102.4 102.7 100.2 97.7 | .1 -.8 -2.5 .4 -2.5 -2.5 | -9.2
Construction | 102.0 101.0 98.7 97.3 92.8 89.7 | .7 -.9 -2.2 -1.4 -4.6 -3.4 | -14.0
Materials | 112.2 110.9 104.2 107.3 105.2 102.3 | .1 -1.2 -6.0 3.0 -2.0 -2.8 | -9.6
| | |
Major industry groups | | |
Manufacturing (see note below) | 111.9 110.8 106.4 107.4 105.0 102.5 | -.2 -1.0 -3.9 .9 -2.2 -2.3 | -9.9
Previous estimates | 111.9 110.8 106.3 107.0 105.5 | -.1 -1.1 -4.0 .6 -1.4 |
Mining | 105.8 105.2 95.2 102.3 104.5 102.9 | 1.5 -.5 -9.5 7.4 2.2 -1.6 | -1.0
Utilities | 108.9 103.9 105.5 107.8 108.8 108.7 | -1.0 -4.6 1.6 2.1 1.0 -.1 | .4
——————————————————————————————————————————————————————————————
| | Capacity
| Percent of capacity | growth
| ——————————————————————————————————————————————- | —————
| Average 1988- 1990- 1994- 2001- | |
| 1972- 89 91 95 02 2007 | 2008 | Dec. ‘07 to
Capacity utilization | 2007 high low high low Dec. | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p] | Dec. ‘08
————————————————————————————————————————————————————————————————
| | |
Total industry | 81.0 85.0 78.6 85.1 73.6 81.0 | 79.4 78.3 75.0 76.3 75.2 73.6 | 1.5
Previous estimates | | 79.5 78.3 75.0 76.0 75.4 |
| | |
Manufacturing (see note below) | 79.7 85.4 77.1 84.6 71.5 79.2 | 77.1 76.2 73.1 73.7 71.9 70.2 | 1.7
Previous estimates | | 77.1 76.2 73.1 73.4 72.3 |
Mining | 87.5 86.3 83.6 88.7 84.8 90.9 | 92.1 91.6 82.9 88.9 90.8 89.3 | .7
Utilities | 86.8 92.7 84.1 93.9 84.6 85.5 | 84.9 80.9 82.0 83.6 84.3 84.0 | 2.2
| | |
Stage-of-process groups | | |
Crude | 86.6 88.3 84.4 89.5 81.9 90.2 | 89.8 89.3 79.3 85.7 85.7 83.9 | .5
Primary and semifinished | 82.2 86.4 77.8 88.2 74.6 81.0 | 79.2 77.8 75.3 76.5 74.1 72.1 | 1.8
Finished | 77.7 82.8 77.1 80.4 69.9 77.7 | 75.7 74.7 73.0 72.4 72.4 71.4 | 1.8
————————————————————————————————————————————————————————————————
r Revised. p Preliminary.
Note. The statistics in this release cover output, capacity, and capacity utilization in the
U.S. industrial sector, which is defined by the Federal Reserve to comprise manufacturing,
mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the
North American Industry Classification System (NAICS); electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing industries.
Logging and publishing are classified elsewhere in NAICS (under agriculture and information
respectively), but historically they were considered to be manufacturing and were included in
the industrial sector under the Standard Industrial Classification (SIC) system. In December 2002
the Federal Reserve reclassified all its industrial output data from the SIC system to NAICS.

Table 1
Industrial Production: Market and Industry Group Summary
Percent change, seasonally adjusted
———————————————————————————————————————————————————————————————————————
| | | Fourth quarter to | | |
| | | fourth quarter | Annual rate | Monthly rate |
| | |——————————|——————————|————————————————————| Dec. ‘07
| | 2007 | | 2008 | 2008 | to
Item | NAICS |Proportion<1>| 2006 2007 2008 | Q2 Q3[r] Q4[p] | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p] | Dec. ‘08
———————————————————————————————————————————————————————————————————————
| | | | | |
Total IP | | 100.00 | 1.7 2.1 -6.0 | -3.4 -8.9 -11.5 | .0 -1.3 -4.2 1.8 -1.3 -2.0 | -7.8
| | | | | |
MARKET GROUP | | | | | |
Final products and nonindustrial supplies | | 56.13 | 1.0 1.3 -5.2 | -4.3 -7.5 -9.1 | -.2 -1.4 -2.7 .9 -.8 -1.4 | -6.4
Consumer goods | | 29.33 | .2 1.1 -3.8 | -5.5 -7.3 -2.8 | -.1 -2.1 -1.5 2.3 -1.0 -1.7 | -5.2
Durable | | 6.68 | -3.9 .9 -17.5 | -16.1 -10.1 -30.8 | .5 -6.2 -1.2 -2.4 -3.3 -4.7 | -21.1
Automotive products | | 3.23 | -5.3 3.6 -22.3 | -29.7 -9.8 -33.8 | .9 -10.7 1.4 -3.5 -2.1 -7.0 | -27.1
Home electronics | | .31 | 11.5 14.2 -3.5 | 22.1 -4.8 -30.6 | 3.7 -2.5 -4.4 -1.3 -4.7 -2.1 | -8.9
Appliances, furniture, carpeting | | 1.08 | -6.1 -6.0 -21.1 | -7.5 -20.2 -34.4 | -.5 -4.0 -4.4 -1.5 -5.4 -3.0 | -23.2
Miscellaneous goods | | 2.06 | -2.8 -1.5 -10.4 | -2.1 -6.3 -24.8 | -.1 -1.0 -2.7 -1.5 -3.8 -2.8 | -12.5
Nondurable | | 22.65 | 1.5 1.2 .2 | -2.3 -6.6 5.6 | -.3 -1.0 -1.5 3.5 -.5 -1.0 | -.7
Non-energy | | 16.27 | 2.1 .9 -.7 | -.7 -2.1 -.5 | -.4 -.1 .1 .4 .0 -1.5 | -1.7
Foods and tobacco | | 8.99 | .3 1.5 -.7 | .2 -4.3 1.9 | -.6 -.3 .2 .8 .4 -1.9 | -1.7
Clothing | | .54 | .3 -1.9 -4.6 | -9.1 6.6 -12.0 | .8 1.0 -1.5 -2.5 .4 -.5 | -6.2
Chemical products | | 4.71 | 7.7 .0 .1 | .2 .8 -1.9 | .1 -.3 .5 -.2 -.4 -.8 | -.7
Paper products | | 1.56 | -2.4 1.1 -2.2 | -5.8 -4.0 -3.6 | -1.4 .0 -.6 .3 -.5 -1.6 | -3.7
Energy | | 6.38 | -.2 1.9 2.2 | -6.1 -16.3 21.0 | -.2 -3.0 -5.4 11.1 -1.6 .2 | 2.0
| | | | | |
Business equipment | | 9.38 | 7.8 2.8 -8.2 | -4.0 -11.6 -19.2 | -.4 -.4 -7.3 -2.6 2.9 1.8 | -6.7
Transit | | 1.71 | 9.1 -3.4 -23.9 | -8.0 -42.2 -33.1 | -.1 -4.1 -33.9 -10.9 40.8 23.6 | -4.8
Information processing | | 2.72 | 12.8 8.9 .2 | 12.2 -10.0 -11.3 | -1.5 -1.1 -1.2 -.5 -1.3 -1.5 | -2.5
Industrial and other | | 4.95 | 4.4 1.7 -7.4 | -11.1 .0 -19.1 | .1 1.2 -2.1 -2.0 -2.2 -2.5 | -9.8
Defense and space equipment | | 1.73 | -2.6 5.2 -2.5 | -1.3 -6.6 -3.8 | -1.5 .0 -2.5 1.2 -.4 -.7 | -3.5
| | | | | |
Construction supplies | | 4.21 | -3.5 -1.6 -10.9 | -4.9 -3.6 -25.9 | .7 -.9 -2.2 -1.4 -4.6 -3.4 | -14.0
Business supplies | | 10.64 | -.3 1.1 -5.5 | -3.5 -7.4 -10.8 | -.1 -.8 -2.6 1.0 -1.7 -2.1 | -7.3
| | | | | |
Materials | | 43.87 | 2.5 3.2 -6.9 | -2.2 -10.6 -14.4 | .1 -1.2 -6.0 3.0 -2.0 -2.8 | -9.6
Non-energy | | 29.30 | 1.3 3.5 -10.5 | -3.0 -10.2 -25.1 | -.3 -.9 -5.1 1.0 -4.4 -4.2 | -14.4
Durable | | 17.55 | 1.2 5.4 -9.8 | -2.4 -4.5 -29.4 | .2 -1.0 -2.0 -2.4 -4.5 -4.7 | -14.0
Consumer parts | | 2.92 | -5.8 -2.0 -19.6 | -12.4 -14.2 -36.3 | .2 -6.2 -.7 -3.7 -4.3 -5.7 | -22.7
Equipment parts | | 6.02 | 9.4 12.5 -2.8 | 4.0 1.8 -23.6 | .3 .8 -1.5 -1.7 -4.3 -4.0 | -7.2
Other | | 8.62 | -2.0 3.0 -11.4 | -3.6 -5.8 -31.3 | .1 -.6 -2.7 -2.5 -4.8 -5.0 | -15.8
Nondurable | | 11.75 | 1.6 .6 -11.5 | -4.0 -17.9 -18.3 | -.9 -.7 -9.6 6.3 -4.3 -3.4 | -15.1
Textile | | .52 | -12.2 -9.4 -14.2 | -11.1 -1.8 -28.5 | .5 3.0 -3.9 -1.1 -6.2 -4.2 | -17.9
Paper | | 2.23 | 1.6 -1.3 -8.2 | -2.1 -9.4 -16.3 | -.6 .0 -2.2 -.8 -1.9 -2.8 | -11.9
Chemical | | 5.78 | 4.9 2.1 -16.0 | -4.9 -28.2 -22.6 | -.9 -1.8 -17.5 14.8 -7.1 -4.5 | -20.7
Energy | | 14.58 | 5.2 2.7 -.3 | -.8 -11.3 7.9 | .8 -1.7 -7.7 6.7 2.4 -.6 | -.7
| | | | | |
| | | | | |
INDUSTRY GROUP | | | | | |
Manufacturing | | 78.70 | 1.1 2.3 -7.7 | -4.1 -8.7 -16.2 | -.2 -1.0 -3.9 .9 -2.2 -2.3 | -9.9
Manufacturing (NAICS) | 31-33 | 75.02 | 1.4 2.5 -7.7 | -3.8 -8.7 -16.7 | -.1 -1.0 -4.1 .9 -2.3 -2.3 | -10.0
| | | | | |
Durable manufacturing | | 38.51 | 1.6 3.9 -10.4 | -5.7 -6.9 -26.1 | .1 -1.4 -3.3 -2.3 -2.4 -2.6 | -12.8
Wood products | 321 | 1.19 | -13.3 -6.8 -19.4 | -8.2 -13.6 -38.3 | -1.1 -.8 -4.3 -5.4 -2.4 -5.1 | -22.2
Nonmetallic mineral products | 327 | 2.25 | -3.5 .7 -9.3 | -4.8 -3.8 -19.5 | 1.2 -.9 -2.7 .4 -5.0 -.9 | -9.6
Primary metal | 331 | 2.70 | -4.2 4.1 -22.5 | -11.8 -4.7 -60.9 | 2.0 -1.4 -5.3 -7.7 -11.8 -9.4 | -31.7
Fabricated metal products | 332 | 5.58 | 3.2 3.4 -8.6 | -7.5 -6.2 -20.3 | -.4 .4 -1.1 -1.9 -2.6 -4.1 | -11.8
Machinery | 333 | 4.89 | 2.5 -.7 -9.7 | -9.5 -4.8 -21.7 | -1.1 1.6 -3.2 -1.8 -2.6 -3.0 | -11.6
Computer and electronic products | 334 | 6.85 | 12.2 13.9 .2 | 14.7 -2.1 -21.3 | .1 -.6 -1.3 -1.6 -3.6 -2.7 | -4.0
Electrical equip., appliances, | | | | | |
and components | 335 | 1.93 | -.5 3.7 -5.7 | 3.1 -6.3 -19.4 | -.3 -.9 -3.5 .3 -2.9 -3.3 | -9.5
Motor vehicles and parts | 3361-3 | 5.12 | -5.9 -2.2 -22.2 | -28.5 -7.4 -35.3 | 2.3 -10.7 1.2 -3.6 -2.5 -7.2 | -26.7
Aerospace and miscellaneous | | | | | |
transportation equipment | 3364-9 | 3.50 | 4.5 10.9 -12.2 | -3.9 -24.6 -17.3 | -1.6 -.6 -16.8 -3.1 12.5 9.6 | -3.4
Furniture and related products | 337 | 1.43 | -1.6 -1.7 -19.7 | -10.1 -17.2 -33.5 | -1.0 -3.9 -1.8 -3.3 -4.9 -2.9 | -21.9
Miscellaneous | 339 | 3.09 | 2.7 1.5 -2.2 | -1.4 3.6 -11.0 | .4 1.9 -1.8 -.5 -2.1 -1.3 | -4.2
| | | | | |
Nondurable manufacturing | | 36.50 | 1.3 .9 -5.1 | -1.7 -10.6 -6.5 | -.4 -.6 -4.9 4.2 -2.2 -2.1 | -7.2
Food, beverage, and tobacco products | 311,2 | 10.74 | .3 2.1 -.8 | .3 -4.7 1.3 | -.6 -.3 .0 .9 .3 -2.0 | -1.9
Textile and product mills | 313,4 | .93 | -11.7 -8.1 -12.3 | -10.4 -3.9 -22.7 | .1 1.1 -2.9 -.7 -4.6 -3.4 | -15.6
Apparel and leather | 315,6 | .57 | -.8 -2.0 -4.4 | -8.2 7.1 -12.5 | .9 .8 -1.4 -2.7 .3 -.5 | -6.0
Paper | 322 | 2.54 | .3 -2.2 -8.3 | .0 -7.1 -21.5 | -.8 .7 -3.4 -2.0 -2.0 -2.1 | -11.7
Printing and support | 323 | 1.87 | 1.9 -1.3 -7.8 | -7.4 -11.5 -8.1 | -1.6 1.5 -.9 -.3 -1.1 -2.8 | -9.8
Petroleum and coal products | 324 | 5.24 | 2.2 -.5 .4 | -.2 -17.8 14.8 | .3 -1.5 -10.9 15.2 -3.1 -.7 | -1.1
Chemical | 325 | 11.57 | 5.0 1.4 -8.8 | -2.4 -15.3 -13.5 | -.4 -1.0 -8.2 6.3 -4.1 -2.6 | -11.6
Plastics and rubber products | 326 | 3.04 | -3.6 4.4 -10.6 | -3.4 -3.5 -25.3 | .2 -1.8 -1.9 -2.5 -3.0 -2.7 | -12.9
| | | | | |
Other manufacturing (non-NAICS) | 1133,5111 | 3.68 | -4.5 -1.4 -6.9 | -10.4 -8.6 -5.0 | -1.4 -.7 -.4 .3 -.5 -2.1 | -8.3
| | | | | |
Mining | 21 | 11.62 | 8.2 .2 .5 | 2.0 -7.6 4.5 | 1.5 -.5 -9.5 7.4 2.2 -1.6 | -1.0
Utilities | 2211,2 | 9.68 | -.7 3.1 -.1 | -4.5 -11.6 9.0 | -1.0 -4.6 1.6 2.1 1.0 -.1 | .4
Electric | 2211 | 7.98 | -1.2 3.3 -.8 | -3.5 -9.7 7.2 | -.9 -5.0 2.1 1.1 1.7 -.2 | .8
Natural gas | 2212 | 1.70 | 1.5 2.0 3.0 | -9.1 -20.1 18.2 | -1.3 -2.7 -.9 7.2 -2.0 .2 | -1.6
———————————————————————————————————————————————————————————————————————
[r] Revised. [p] Preliminary.
<1> The proportion data are estimates of the relative contribution of each series to the growth of total industrial production in the following year.
Note. Under industry groups, the figures to the right of the series descriptions are 2002 North American Industry Classification System (NAICS) codes. The abbreviation pt
denotes part of a NAICS code. Additional industry detail is available on the Board’s web site (www.federalreserve.gov/releases/G17). Under market groups, in
the products category, miscellaneous consumer nondurables, oil and gas drilling, and manufactured homes are not shown separately; in the nondurable materials
category, containers and miscellaneous nondurable materials are not shown separately.

Table 2
Industrial Production: Special Aggregates and Selected Detail
Percent change, seasonally adjusted
———————————————————————————————————————————————————————————————————————
| | | Fourth quarter to | | |
| | | fourth quarter | Annual rate | Monthly rate |
| | |——————————|——————————|————————————————————| Dec. ‘07
| | 2007 | | 2008 | 2008 | to
Item | NAICS | Proportion| 2006 2007 2008 | Q2 Q3[r] Q4[p] | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p] | Dec. ‘08
———————————————————————————————————————————————————————————————————————
| | | | | |
Total industry | | 100.00 | 1.7 2.1 -6.0 | -3.4 -8.9 -11.5 | .0 -1.3 -4.2 1.8 -1.3 -2.0 | -7.8
| | | | | |
Energy | | 24.66 | 3.7 2.3 .6 | -1.6 -11.4 9.8 | .5 -2.1 -6.1 7.2 .9 -.6 | .1
Consumer products | | 6.38 | -.2 1.9 2.2 | -6.1 -16.3 21.0 | -.2 -3.0 -5.4 11.1 -1.6 .2 | 2.0
Commercial products | | 2.94 | 1.2 2.0 .2 | -.9 -6.5 1.2 | 1.0 -3.3 -1.8 3.0 .1 -1.1 | .2
Oil and gas well drilling | 213111 | .77 | 14.8 -.8 6.9 | 20.1 16.4 -7.6 | -.4 2.3 3.4 -1.1 -2.9 -5.5 | -1.2
Converted fuel | | 4.15 | 2.5 5.3 -3.2 | -5.6 -19.4 12.4 | -1.0 -3.5 -1.9 5.2 .6 -.2 | -3.1
Primary energy | | 10.42 | 6.4 1.6 .8 | 1.2 -8.2 6.3 | 1.4 -1.1 -9.7 7.3 3.0 -.7 | .3
| | | | | |
Non-energy | | 75.34 | 1.1 2.1 -8.3 | -4.0 -8.0 -18.5 | -.2 -1.0 -3.5 -.1 -2.2 -2.6 | -10.6
Selected high-technology industries | | 4.31 | 17.3 22.3 -.5 | 19.7 -2.1 -29.3 | .4 -.8 -1.2 -2.3 -5.8 -4.1 | -6.5
Computers and peripheral equipment | 3341 | .98 | 18.0 16.7 -6.2 | 9.3 -20.7 -29.4 | -1.6 -2.1 -3.1 -2.6 -2.9 -3.8 | -11.0
Communications equipment | 3342 | 1.28 | 20.6 20.6 3.4 | 25.3 -9.2 -6.5 | -1.9 -1.6 .3 .9 -3.0 -.6 | .1
Semiconductors and related | | | | | |
electronic components | 334412-9 | 2.04 | 15.4 25.9 -.6 | 21.3 13.4 -41.9 | 2.9 .4 -1.2 -4.2 -9.1 -6.9 | -9.4
| | | | | |
Excluding selected high-technology | | | | | |
industries | | 71.03 | .0 .8 -8.8 | -5.5 -8.3 -17.8 | -.3 -1.0 -3.6 .1 -1.9 -2.5 | -10.9
| | | | | |
Motor vehicles and parts | 3361-3 | 5.12 | -5.9 -2.2 -22.2 | -28.5 -7.4 -35.3 | 2.3 -10.7 1.2 -3.6 -2.5 -7.2 | -26.7
Motor vehicles | 3361 | 2.28 | -7.0 -2.7 -28.9 | -40.5 -.5 -48.3 | 4.3 -16.9 3.5 -5.7 -3.3 -12.3 | -36.3
Motor vehicle parts | 3363 | 2.47 | -4.3 .5 -14.0 | -15.5 -5.9 -23.0 | 1.9 -5.7 .0 -2.0 -1.9 -3.8 | -16.2
| | | | | |
Excluding motor vehicles and parts | | 65.91 | .6 1.1 -7.8 | -3.6 -8.4 -16.5 | -.5 -.3 -3.9 .3 -1.9 -2.2 | -9.7
Consumer goods | | 19.88 | 1.0 .3 -3.3 | -1.7 -4.2 -5.6 | -.4 -.5 -.5 .1 -.7 -1.7 | -4.5
Business equipment | | 7.33 | 5.8 2.8 -8.6 | -6.4 -11.0 -18.4 | -.4 .6 -9.0 -2.9 4.5 3.1 | -5.6
Construction supplies | | 4.17 | -3.7 -1.9 -11.2 | -5.3 -3.6 -26.2 | .7 -.9 -2.3 -1.4 -4.6 -3.5 | -14.2
Business supplies | | 7.41 | -1.6 -.1 -8.0 | -5.5 -8.3 -14.4 | -.6 .3 -3.1 .4 -2.2 -2.4 | -10.3
Materials | | 25.38 | .7 1.8 -10.6 | -3.4 -11.6 -23.3 | -.7 -.5 -5.7 1.6 -4.2 -3.9 | -14.3
| | | | | |
Measures excluding selected high-technology | | | | | |
industries | | | | | |
Total industry | | 95.69 | .9 1.2 -6.3 | -4.4 -9.2 -10.7 | -.1 -1.3 -4.3 2.0 -1.1 -1.9 | -7.9
Manufacturing<1> | | 74.39 | .1 1.1 -8.2 | -5.5 -9.1 -15.4 | -.2 -1.0 -4.1 1.1 -2.0 -2.2 | -10.2
Durable | | 34.37 | -.5 1.5 -11.6 | -8.8 -7.6 -25.6 | .1 -1.5 -3.6 -2.3 -1.9 -2.5 | -13.7
| | | | | |
Measures excluding motor vehicles and parts | | | | | |
Total industry | | 94.88 | 2.1 2.4 -5.1 | -2.0 -9.0 -10.3 | -.2 -.8 -4.4 2.1 -1.3 -1.8 | -6.8
Manufacturing<1> | | 73.58 | 1.7 2.6 -6.7 | -2.3 -8.8 -15.0 | -.3 -.4 -4.2 1.2 -2.2 -2.1 | -8.8
Durable | | 33.56 | 2.8 4.8 -8.6 | -2.1 -6.9 -24.7 | -.2 -.1 -3.9 -2.1 -2.4 -2.0 | -10.7
| | | | | |
Measures excluding selected high-technology | | | | | |
industries and motor vehicles and parts | | | | | |
Total industry | | 90.57 | 1.4 1.4 -5.4 | -3.0 -9.3 -9.3 | -.2 -.8 -4.6 2.3 -1.1 -1.7 | -6.9
Manufacturing<1> | | 69.27 | .6 1.3 -7.2 | -3.7 -9.2 -14.1 | -.4 -.4 -4.4 1.4 -2.0 -1.9 | -9.0
| | | | | |
Measures of non-energy materials | | | | | |
inputs to | | | | | |
Finished processors | | 11.68 | 2.8 5.1 -8.4 | -1.8 -4.4 -25.5 | .1 -.9 -1.6 -2.0 -3.9 -4.1 | -12.3
Primary and semifinished processors | | 17.61 | .3 2.4 -11.8 | -3.8 -13.7 -24.8 | -.5 -.9 -7.3 2.9 -4.8 -4.2 | -15.8
———————————————————————————————————————————————————————————————————————
[r] Revised. [p] Preliminary.
<1> See note on cover page.

Table 3
Motor Vehicle Assemblies
Millions of units, seasonally adjusted annual rate
——————————————————————————————————————————————–
| 2008 | 2008 | 2008
Item |Average| Q1 Q2 Q3 Q4 | July Aug. Sept. Oct. Nov. Dec.
——————————————————————————————————————————————–
Total | 8.68 | 9.92 8.77 8.75 7.44 | 9.65 8.20 8.41 8.08 7.60 6.64
Autos | 3.77 | 3.93 3.65 4.21 3.36 | 4.58 4.07 3.99 3.83 3.42 2.84
Trucks | 4.91 | 5.99 5.12 4.54 4.08 | 5.07 4.13 4.42 4.24 4.18 3.81
Light | 4.68 | 5.75 4.88 4.33 3.87 | 4.86 3.92 4.22 4.03 3.98 3.59
Medium and heavy | .22 | .24 .24 .21 .21 | .21 .21 .20 .21 .20 .22
| | |
Memo: | | |
Autos and light trucks | 8.46 | 9.68 8.53 8.55 7.23 | 9.44 7.99 8.21 7.87 7.40 6.43
——————————————————————————————————————————————–
Note. Seasonal factors and underlying data for auto, light truck, and medium and heavy truck production are available on the Board’s web site,
www.federalreserve.gov/releases/G17/mvsf.htm

Table 4
Industrial Production Indexes: Market and Industry Group Summary
2002 = 100, seasonally adjusted
————————————————————————————————————————————————————————-
| | 2007 | 2008
Item | NAICS | Proportion| Apr. May June July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p]
————————————————————————————————————————————————————————-
| | |
Total IP | | 100.00 | 111.4 111.2 111.3 111.2 109.8 105.2 107.1 105.7 103.6
| | |
MARKET GROUP | | |
Final products and nonindustrial supplies | | 56.13 | 110.8 110.5 110.7 110.5 109.0 106.1 107.0 106.1 104.7
Consumer goods | | 29.33 | 106.2 105.8 106.2 106.1 103.8 102.3 104.6 103.6 101.8
Durable | | 6.68 | 94.5 94.9 96.7 97.2 91.2 90.1 88.0 85.1 81.0
Automotive products | | 3.23 | 87.2 87.9 92.3 93.1 83.1 84.3 81.3 79.6 74.1
Home electronics | | .31 | 177.4 179.9 174.2 180.6 176.1 168.2 166.1 158.2 154.9
Appliances, furniture, carpeting | | 1.08 | 86.9 86.3 85.4 84.9 81.5 78.0 76.8 72.7 70.5
Miscellaneous goods | | 2.06 | 100.8 100.9 100.8 100.8 99.8 97.1 95.7 92.1 89.5
Nondurable | | 22.65 | 109.8 109.1 109.1 108.8 107.7 106.0 109.7 109.2 108.1
Non-energy | | 16.27 | 109.1 109.2 109.0 108.6 108.4 108.5 108.9 108.9 107.3
Foods and tobacco | | 8.99 | 109.8 109.9 109.2 108.6 108.3 108.5 109.4 109.8 107.7
Clothing | | .54 | 74.8 73.7 75.0 75.6 76.4 75.2 73.3 73.6 73.2
Chemical products | | 4.71 | 118.7 118.7 119.0 119.1 118.7 119.3 119.1 118.6 117.7
Paper products | | 1.56 | 94.9 95.2 95.8 94.5 94.6 94.0 94.3 93.8 92.4
Energy | | 6.38 | 111.7 109.4 109.8 109.6 106.3 100.6 111.8 110.0 110.2
| | |
Business equipment | | 9.38 | 130.0 130.4 130.4 129.8 129.3 119.9 116.8 120.2 122.4
Transit | | 1.71 | 118.1 118.6 120.1 119.9 115.0 76.1 67.8 95.5 118.0
Information processing | | 2.72 | 172.0 172.8 172.6 169.9 168.0 166.0 165.2 163.1 160.7
Industrial and other | | 4.95 | 113.8 114.0 113.5 113.6 115.0 112.6 110.4 108.0 105.3
Defense and space equipment | | 1.73 | 119.5 119.0 120.3 118.5 118.6 115.6 117.1 116.6 115.8
| | |
Construction supplies | | 4.21 | 101.4 101.7 101.3 102.0 101.0 98.7 97.3 92.8 89.7
Business supplies | | 10.64 | 108.6 107.9 107.5 107.5 106.6 103.8 104.9 103.1 100.9
| | |
Materials | | 43.87 | 112.3 112.2 112.1 112.2 110.9 104.2 107.3 105.2 102.3
Non-energy | | 29.30 | 115.7 115.4 115.4 115.0 114.0 108.2 109.3 104.4 100.1
Durable | | 17.55 | 125.7 125.0 125.4 125.6 124.3 121.9 119.0 113.6 108.2
Consumer parts | | 2.92 | 86.0 85.7 86.4 86.6 81.2 80.6 77.6 74.3 70.0
Equipment parts | | 6.02 | 182.3 181.6 182.4 182.9 184.3 181.5 178.4 170.8 164.0
Other | | 8.62 | 109.2 108.4 108.4 108.4 107.8 104.9 102.3 97.5 92.6
Nondurable | | 11.75 | 101.1 101.2 100.8 99.8 99.1 89.6 95.2 91.1 88.0
Textile | | .52 | 68.9 69.2 67.4 67.8 69.8 67.1 66.3 62.2 59.6
Paper | | 2.23 | 95.8 97.8 95.1 94.5 94.6 92.5 91.8 90.1 87.5
Chemical | | 5.78 | 109.4 109.1 108.9 107.9 106.0 87.5 100.4 93.2 89.1
Energy | | 14.58 | 104.1 104.2 104.1 104.9 103.1 95.1 101.6 104.0 103.4
| | |
| | |
INDUSTRY GROUP | | |
Manufacturing | | 78.70 | 112.3 112.3 112.1 111.9 110.8 106.4 107.4 105.0 102.5
Manufacturing (NAICS) | 31-33 | 75.02 | 113.7 113.7 113.5 113.4 112.2 107.6 108.6 106.1 103.6
| | |
Durable manufacturing | | 38.51 | 120.7 120.6 120.9 121.0 119.3 115.4 112.7 110.0 107.1
Wood products | 321 | 1.19 | 90.2 89.6 89.0 88.1 87.4 83.7 79.1 77.3 73.3
Nonmetallic mineral products | 327 | 2.25 | 104.9 105.0 103.8 105.1 104.2 101.4 101.8 96.7 95.8
Primary metal | 331 | 2.70 | 111.5 109.5 109.9 112.0 110.4 104.6 96.5 85.1 77.1
Fabricated metal products | 332 | 5.58 | 112.4 111.5 110.1 109.7 110.1 108.9 106.8 104.0 99.7
Machinery | 333 | 4.89 | 112.4 112.3 112.1 110.9 112.7 109.1 107.2 104.4 101.3
Computer and electronic products | 334 | 6.85 | 208.9 209.5 209.7 209.9 208.8 206.0 202.8 195.5 190.1
Electrical equip., appliances, | | |
and components | 335 | 1.93 | 105.7 106.6 106.7 106.4 105.5 101.8 102.2 99.2 96.0
Motor vehicles and parts | 3361-3 | 5.12 | 83.1 83.4 86.9 88.9 79.4 80.3 77.4 75.5 70.0
Aerospace and miscellaneous | | |
transportation equipment | 3364-9 | 3.50 | 124.4 124.0 125.6 123.5 122.8 102.2 99.0 111.3 122.0
Furniture and related products | 337 | 1.43 | 94.6 94.4 93.7 92.8 89.2 87.6 84.7 80.6 78.2
Miscellaneous | 339 | 3.09 | 116.3 116.6 116.1 116.6 118.8 116.7 116.1 113.7 112.2
| | |
Nondurable manufacturing | | 36.50 | 106.0 106.2 105.5 105.1 104.4 99.4 103.5 101.2 99.1
Food, beverage, and tobacco products | 311,2 | 10.74 | 110.6 110.4 109.9 109.2 108.9 108.9 109.8 110.2 107.9
Textile and product mills | 313,4 | .93 | 73.3 73.4 72.4 72.5 73.3 71.2 70.7 67.5 65.2
Apparel and leather | 315,6 | .57 | 75.6 74.5 75.9 76.6 77.2 76.1 74.1 74.3 74.0
Paper | 322 | 2.54 | 93.8 96.4 94.6 93.8 94.5 91.3 89.5 87.7 85.9
Printing and support | 323 | 1.87 | 97.4 97.0 94.2 92.6 94.0 93.2 92.9 91.9 89.3
Petroleum and coal products | 324 | 5.24 | 110.6 110.9 110.0 110.3 108.6 96.8 111.5 108.0 107.3
Chemical | 325 | 11.57 | 113.2 113.4 112.7 112.2 111.2 102.0 108.5 104.0 101.3
Plastics and rubber products | 326 | 3.04 | 101.3 101.5 102.4 102.7 100.9 99.0 96.5 93.6 91.1
| | |
Other manufacturing (non-NAICS) | 1133,5111 | 3.68 | 89.1 88.5 88.4 87.2 86.6 86.3 86.5 86.1 84.2
| | |
Mining | 21 | 11.62 | 104.0 104.1 104.2 105.8 105.2 95.2 102.3 104.5 102.9
Utilities | 2211,2 | 9.68 | 110.4 108.0 110.0 108.9 103.9 105.5 107.8 108.8 108.7
Electric | 2211 | 7.98 | 111.8 109.2 112.3 111.3 105.7 107.9 109.1 110.9 110.6
Natural gas | 2212 | 1.70 | 103.4 102.0 99.4 98.1 95.4 94.6 101.4 99.4 99.6
————————————————————————————————————————————————————————-
r Revised. p Preliminary.
Note. See notes to table 1.

Table 5
Industrial Production Indexes: Special Aggregates
2002 = 100, seasonally adjusted
————————————————————————————————————————————————————————-
| | 2007 | 2008
Item | NAICS | Proportion| Apr. May June July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p]
————————————————————————————————————————————————————————-
| | |
Total industry | | 100.00 | 111.4 111.2 111.3 111.2 109.8 105.2 107.1 105.7 103.6
| | |
Energy | | 24.66 | 108.6 107.9 108.1 108.7 106.4 99.9 107.1 108.0 107.4
Consumer products | | 6.38 | 111.7 109.4 109.8 109.6 106.3 100.6 111.8 110.0 110.2
Commercial products | | 2.94 | 117.6 115.3 116.7 117.9 114.0 112.0 115.3 115.4 114.1
Oil and gas well drilling | 213111 | .77 | 174.3 177.3 179.9 179.2 183.3 189.6 187.5 181.9 171.9
Converted fuel | | 4.15 | 109.0 108.5 106.5 105.4 101.7 99.8 105.0 105.6 105.4
Primary energy | | 10.42 | 101.9 102.2 102.8 104.2 103.0 93.1 99.9 102.9 102.2
| | |
Non-energy | | 75.34 | 111.9 111.9 111.9 111.6 110.5 106.7 106.6 104.3 101.6
Selected high-technology industries | | 4.31 | 269.5 269.7 269.4 270.5 268.4 265.3 259.3 244.1 234.2
Computers and peripheral equipment | 3341 | .98 | 216.3 216.7 211.1 207.6 203.2 196.9 191.8 186.2 179.2
Communications equipment | 3342 | 1.28 | 202.7 203.6 204.4 200.6 197.4 198.1 199.8 193.7 192.6
Semiconductors and related | | |
electronic components | 334412-9 | 2.04 | 342.7 342.0 344.6 354.7 356.0 351.6 336.7 305.9 284.9
| | |
Excluding selected high-technology | | |
industries | | 71.03 | 105.1 105.0 105.1 104.7 103.7 100.0 100.0 98.1 95.6
| | |
Motor vehicles and parts | 3361-3 | 5.12 | 83.1 83.4 86.9 88.9 79.4 80.3 77.4 75.5 70.0
Motor vehicles | 3361 | 2.28 | 76.5 78.6 85.6 89.3 74.2 76.8 72.4 70.0 61.4
Motor vehicle parts | 3363 | 2.47 | 87.8 87.4 88.2 89.8 84.7 84.8 83.1 81.5 78.3
| | |
Excluding motor vehicles and parts | | 65.91 | 107.0 106.9 106.6 106.1 105.8 101.7 102.0 100.0 97.8
Consumer goods | | 19.88 | 106.8 106.8 106.5 106.1 105.6 105.1 105.1 104.4 102.7
Business equipment | | 7.33 | 118.8 119.1 119.1 118.6 119.4 108.7 105.6 110.3 113.7
Construction supplies | | 4.17 | 100.5 100.9 100.4 101.1 100.1 97.8 96.4 92.0 88.8
Business supplies | | 7.41 | 100.5 100.4 99.3 98.7 99.0 96.0 96.3 94.2 91.9
Materials | | 25.38 | 106.6 106.4 106.2 105.5 105.0 99.0 100.6 96.4 92.6
| | |
Measures excluding selected high-technology | | |
industries | | |
Total industry | | 95.69 | 106.1 105.9 105.9 105.9 104.5 100.0 102.0 100.8 98.9
Manufacturing<1> | | 74.39 | 105.6 105.6 105.4 105.2 104.1 99.9 100.9 98.9 96.7
Durable | | 34.37 | 107.3 107.0 107.4 107.5 105.9 102.1 99.7 97.8 95.4
| | |
Measures excluding motor vehicles and parts | | |
Total industry | | 94.88 | 113.2 113.0 112.8 112.7 111.7 106.8 109.0 107.6 105.7
Manufacturing<1> | | 73.58 | 114.7 114.7 114.2 113.8 113.4 108.6 109.8 107.4 105.2
Durable | | 33.56 | 128.0 127.7 127.4 127.2 127.1 122.1 119.5 116.7 114.3
| | |
Measures excluding selected high-technology | | |
industries and motor vehicles and parts | | |
Total industry | | 90.57 | 107.5 107.3 107.1 106.9 106.0 101.2 103.5 102.4 100.7
Manufacturing<1> | | 69.27 | 107.5 107.5 107.0 106.6 106.2 101.5 102.9 100.8 98.9
| | |
Measures of non-energy materials | | |
inputs to | | |
Finished processors | | 11.68 | 127.4 127.6 127.3 127.4 126.3 124.3 121.8 117.1 112.3
Primary and semifinished processors | | 17.61 | 107.5 106.8 107.0 106.4 105.5 97.8 100.6 95.8 91.8
————————————————————————————————————————————————————————-
r Revised. p Preliminary.
Note. See notes to table 2.
<1> See note on cover page.

Table 6
Diffusion Indexes of Industrial Production
Percent
——————————————————————————————————-

Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.
——————————————————————————————————-

One Month Earlier
2006 60.9 43.3 52.6 57.4 49.0 52.9 56.1 48.4 44.6 42.0 42.3 59.0
2007 42.9 56.4 58.3 62.2 49.7 57.4 55.6 45.5 53.8 44.6 57.1 50.0
2008 48.1 45.5 53.5 42.6 53.4 51.4 49.4 41.3 27.9 40.1 25.3

Three Months Earlier
2006 58.3 50.6 56.4 51.9 55.1 51.3 52.6 52.6 49.4 41.7 37.5 45.2
2007 46.2 52.9 51.0 62.5 59.6 61.9 59.6 56.7 55.8 43.6 52.9 51.9
2008 48.4 42.6 46.8 45.2 52.9 45.2 48.4 42.9 28.5 26.9 24.7

Six Months Earlier
2006 56.4 54.2 58.0 57.7 52.9 52.2 49.0 53.8 49.0 44.2 44.9 47.1
2007 38.8 43.6 45.5 57.4 58.7 56.4 65.4 57.7 61.2 51.6 53.5 54.8
2008 46.5 43.9 47.1 44.2 44.6 44.9 44.9 43.3 28.8 29.2 19.6
——————————————————————————————————-
Note: The diffusion indexes are calculated as the percentage of series that increased over the indicated
span (one, three, or six months) plus one-half the percentage that were unchanged.

Table 7
Capacity Utilization
Percent of capacity, seasonally adjusted
——————————————————————————————————————————————————————————————————–
| | | 1972- 1994- 2001-| |
| | 2007 | 2007 95 02| 2008 | 2008
Item | NAICS | proportion| ave. high low| Q2 Q3[r] Q4[p] | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p]
——————————————————————————————————————————————————————————————————–
Total industry | | 100.00 | 81.0 85.1 73.6 | 79.7 77.6 75.0 | 79.4 78.3 75.0 76.3 75.2 73.6
| | | | |
Manufacturing<1> | | 80.83 | 79.7 84.6 71.5 | 77.5 75.5 71.9 | 77.1 76.2 73.1 73.7 71.9 70.2
Manufacturing (NAICS) | 31-33 | 77.04 | 79.5 84.7 71.0 | 77.6 75.5 71.9 | 77.2 76.3 73.1 73.6 71.8 70.1
| | | | |
Durable manufacturing | | 41.25 | 78.0 84.2 68.1 | 75.4 73.6 67.7 | 75.2 74.0 71.4 69.6 67.8 65.9
Wood products | 321 | 1.36 | 79.9 87.9 70.7 | 66.3 64.1 56.9 | 65.3 64.8 62.1 58.7 57.4 54.5
Nonmetallic mineral products | 327 | 2.35 | 79.4 84.0 74.9 | 74.9 73.9 69.8 | 75.1 74.3 72.3 72.5 68.8 68.1
Primary metal | 331 | 2.64 | 80.9 95.8 68.5 | 82.6 81.4 64.2 | 83.7 82.5 78.0 71.9 63.4 57.4
Fabricated metal products | 332 | 5.64 | 77.5 85.5 69.5 | 79.6 78.2 73.8 | 78.3 78.6 77.7 76.1 74.1 71.0
Machinery | 333 | 5.15 | 78.7 87.6 63.7 | 74.4 73.2 68.6 | 73.3 74.4 71.9 70.6 68.7 66.6
Computer and electronic products | 334 | 7.82 | 78.3 83.7 58.2 | 78.4 76.0 69.9 | 77.3 76.2 74.6 72.8 69.6 67.2
Electrical equip., appliances, | | | | |
and components | 335 | 1.87 | 83.2 93.1 72.0 | 83.4 81.6 76.9 | 83.2 82.3 79.3 79.4 77.0 74.3
Motor vehicles and parts | 3361-3 | 5.82 | 77.4 89.0 69.7 | 64.1 62.8 56.2 | 67.4 60.1 60.9 58.6 57.1 53.0
Aerospace and miscellaneous | | | | |
transportation equipment | 3364-9 | 3.69 | 72.7 68.8 62.8 | 78.8 73.1 69.3 | 77.8 77.2 64.2 62.1 69.7 76.3
Furniture and related products | 337 | 1.53 | 78.6 83.2 68.2 | 71.7 68.6 62.0 | 70.7 68.0 66.9 64.7 61.5 59.8
Miscellaneous | 339 | 3.38 | 76.6 81.2 70.5 | 73.7 74.1 71.7 | 73.6 75.0 73.5 73.1 71.5 70.4
| | | | |
Nondurable manufacturing | | 35.78 | 81.6 85.4 74.8 | 80.1 77.8 76.4 | 79.4 78.9 75.0 78.1 76.3 74.7
Food, beverage, and tobacco products | 311,2 | 10.68 | 81.5 84.0 75.7 | 80.8 79.6 79.7 | 79.9 79.6 79.5 80.2 80.3 78.7
Textile and product mills | 313,4 | 1.08 | 82.0 91.8 68.9 | 66.0 65.9 62.2 | 65.8 66.7 65.0 64.7 61.9 60.0
Apparel and leather | 315,6 | .66 | 78.4 87.5 60.2 | 72.1 74.0 72.2 | 73.7 74.5 73.7 71.9 72.4 72.2
Paper | 322 | 2.50 | 87.6 92.4 78.5 | 82.2 80.8 76.2 | 81.3 82.0 79.2 77.7 76.2 74.6
Printing and support | 323 | 2.00 | 83.5 86.5 72.6 | 73.7 71.2 69.5 | 70.8 71.8 71.1 70.8 69.9 67.9
Petroleum and coal products | 324 | 4.21 | 85.9 90.5 83.8 | 90.6 86.3 89.4 | 90.4 89.0 79.4 91.4 88.6 88.0
Chemical | 325 | 11.69 | 78.3 81.2 69.4 | 77.3 74.0 71.1 | 76.6 75.8 69.5 73.8 70.7 68.8
Plastics and rubber products | 326 | 2.98 | 83.6 91.8 74.6 | 81.3 80.2 74.2 | 81.8 80.2 78.6 76.6 74.1 72.0
| | | | |
Other manufacturing (non-NAICS) | 1133,5111 | 3.79 | 84.5 83.0 80.3 | 76.2 74.5 73.5 | 74.9 74.4 74.1 74.3 73.9 72.3
| | | | |
Mining | 21 | 9.90 | 87.5 88.7 84.8 | 90.8 88.9 89.7 | 92.1 91.6 82.9 88.9 90.8 89.3
Utilities | 2211,2 | 9.27 | 86.8 93.9 84.6 | 85.6 82.6 84.0 | 84.9 80.9 82.0 83.6 84.3 84.0
| | | | |
Selected high-technology industries | | 4.93 | 78.1 85.6 55.9 | 80.4 77.1 68.2 | 78.7 77.2 75.4 72.8 67.7 64.2
Computers and peripheral equipment | 3341 | 1.13 | 77.9 86.3 66.8 | 80.1 73.7 66.0 | 76.1 73.9 71.1 68.7 66.1 63.1
Communications equipment | 3342 | 1.45 | 75.7 82.8 40.4 | 82.8 78.9 75.7 | 80.3 78.4 78.0 78.0 75.0 74.0
Semiconductors and related | | | | |
electronic components | 334412-9 | 2.35 | 80.8 92.2 57.4 | 79.5 78.1 65.1 | 79.5 78.5 76.3 72.0 64.4 59.0
| | | | |
Measures excluding selected high-technology | | | | |
industries | | | | |
Total industry | | 95.07 | 81.2 85.0 74.8 | 79.7 77.6 75.3 | 79.5 78.4 75.0 76.4 75.5 74.0
Manufacturing<1> | | 75.90 | 79.8 84.5 72.8 | 77.4 75.4 72.1 | 77.0 76.2 73.0 73.7 72.2 70.5
| | | | |
Stage-of-process groups | | | | |
Crude | | 13.93 | 86.6 89.5 81.9 | 89.2 86.2 85.1 | 89.8 89.3 79.3 85.7 85.7 83.9
Primary and semifinished | | 47.15 | 82.2 88.2 74.6 | 79.8 77.4 74.2 | 79.2 77.8 75.3 76.5 74.1 72.1
Finished | | 38.92 | 77.7 80.4 69.9 | 76.0 74.5 72.0 | 75.7 74.7 73.0 72.4 72.4 71.4
——————————————————————————————————————————————————————————————————–
[r] Revised. [p] Preliminary.
<1> See note on cover page
Note. See notes to table 2.

Table 8
Industrial Capacity
Percent change
—————̵ Item —————̵ Total industry | Manufacturing<1> | Mining Utilities | | Selected high-technology industries Manufacturing<1> ex. selected high-technology industries | Stage-of-process groups | Crude Primary and semifinished Finished —————̵ <1> Refer to note on 2;———————————————————————————————————————————–
| Average annual rate | Fourth quarter to fourth quarter | Annual rate | Monthly rate
|—————————-|————————————|—————————-|————–
| 1972- 1980- 1989- 1995-| | 2008 | 2008
| 79 88 94 2008 | 2005 2006 2007 2008 | Q1 Q2 Q3 Q4 | Dec.
2;———————————————————————————————————————————–
| 3.0 2.0 2.2 3.0 | .8 1.3 1.8 1.5 | 1.8 1.6 1.4 1.3 | .1
| | |
| 3.2 2.2 2.5 3.4 | 1.4 1.4 2.0 1.7 | 2.0 1.8 1.6 1.5 | .1
| | |
| .8 .0 -.8 -.4 | -1.1 1.4 1.7 .7 | .9 .7 .6 .7 | .1
| 4.2 2.3 1.5 2.2 | .7 .8 1.2 2.2 | 2.3 2.4 2.2 2.0 | .2
| | |
| | |
| 19.7 17.4 15.6 24.7 | 13.1 10.3 21.4 17.6 | 20.8 18.0 16.1 15.5 | 1.2
| | | |
| 2.6 1.3 1.6 1.5 | .7 .8 .8 .8 | .9 .8 .8 .8 | .1
| | |
| | |
| 1.7 .3 -.4 .0 | -.8 .9 1.4 .5 | .7 .5 .4 .5 | .1
| 3.0 1.4 2.4 3.5 | .8 1.2 2.1 1.9 | 2.3 2.0 1.7 1.5 | .1
| 3.8 3.4 2.6 3.2 | 2.3 1.8 1.7 1.8 | 1.9 1.8 1.8 1.7 | .1
2;———————————————————————————————————————————–
cover page.

Table 9
Gross Value of Final Products and Nonindustrial Supplies
Billions of 2000 dollars at annual rate, seasonally adjusted
—————————————————————————————————————————————————————————–
| | | 2008 | 2008
Item | 2000 | 2008 | Q2 Q3[r] Q4[p] | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p]
—————————————————————————————————————————————————————————–
| | | |
Final products and nonindustrial | | | |
supplies | 2,813.4 | 2,963.7 | 3,002.8 2,936.7 2,878.6 | 3,009.1 2,952.1 2,848.8 2,914.5 2,880.8 2,840.5
| | | |
Final products | 2,114.3 | 2,261.3 | 2,287.9 2,234.1 2,205.9 | 2,294.2 2,243.4 2,164.9 2,224.2 2,208.2 2,185.4
| | | |
Consumer goods | 1,476.4 | 1,568.6 | 1,580.2 1,545.4 1,543.8 | 1,587.0 1,544.1 1,505.1 1,569.1 1,544.3 1,518.0
Durable | 471.7 | 440.5 | 449.9 440.0 397.2 | 465.1 428.6 426.2 413.9 400.5 377.4
Automotive products | 278.6 | 258.7 | 261.9 257.1 229.1 | 277.5 244.8 248.9 239.1 233.4 214.8
Other durable goods | 193.0 | 181.7 | 187.8 182.8 168.0 | 187.6 183.6 177.2 174.7 167.0 162.4
Nondurable | 1,004.8 | 1,109.3 | 1,113.7 1,089.1 1,115.9 | 1,109.4 1,095.5 1,062.2 1,127.5 1,114.2 1,105.9
| | | |
Equipment, total | 637.9 | 702.9 | 720.8 700.6 666.1 | 719.3 714.6 667.9 653.5 668.4 676.5
Business and defense | 621.5 | 684.9 | 702.8 681.1 647.7 | 700.8 695.7 646.9 632.9 649.8 660.5
Business | 561.2 | 607.3 | 624.8 604.1 570.3 | 623.7 618.5 570.1 554.1 572.4 584.3
Defense and space | 60.3 | 77.8 | 78.7 77.4 76.6 | 78.0 78.0 76.0 77.0 76.6 76.1
| | | |
Nonindustrial supplies | 699.1 | 703.9 | 716.3 703.7 674.8 | 716.4 709.7 684.9 691.9 674.8 657.8
Construction supplies | 196.8 | 188.1 | 191.8 190.3 175.2 | 193.1 191.3 186.3 183.0 174.3 168.3
Business supplies | 502.3 | 515.8 | 524.4 513.4 499.4 | 523.3 518.3 498.6 508.8 500.2 489.2
Commercial energy products | 135.7 | 156.5 | 158.5 154.9 154.6 | 160.1 155.5 149.1 155.5 155.3 152.8
—————————————————————————————————————————————————————————–
[r] Revised. [p] Preliminary.

Table 10
Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
Percent change, seasonally adjusted
———————————————————————————————————————————————————————————————————————-
| | Fourth quarter to | | |
| | fourth quarter | Annual rate | Monthly rate |
| |——————————|——————————|————————————————————| Dec. ‘07
| 2007 | | 2008 | 2008 | to
Item | gross value<1>| 2006 2007 2008 | Q2 Q3[r] Q4[p] | July[r] Aug.[r] Sept.[r] Oct.[r] Nov.[r] Dec.[p] | Dec. ‘08
———————————————————————————————————————————————————————————————————————-
| | | | |
Finished | 1996.8 | 2.3 1.4 -7.2 | -6.6 -6.3 -14.3 | .1 -2.2 -2.1 -1.2 .1 -1.6 | -8.5
Semifinished | 1719.2 | -1.6 2.4 -6.7 | -3.2 -5.1 -16.3 | -.1 -1.6 -1.0 -.8 -2.3 -2.4 | -8.5
Primary | 985.6 | -.6 2.0 -6.0 | -4.5 -17.0 -5.5 | -.5 -1.6 -7.5 8.0 -3.8 -2.2 | -9.0
Crude | 426.2 | 7.6 2.3 -7.5 | -2.3 -16.4 -10.7 | 1.1 -.6 -12.7 8.7 -1.4 -2.4 | -10.3
| | | | |
———————————————————————————————————————————————————————————————————————-
[r] Revised. [p] Preliminary.
<1> Billions of 2000 dollars.

Table 11
Historical Statistics for Industrial Production, Capacity, and Utilization: Total Industry
Seasonally adjusted

——————————————————————————————————————————————-
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
——————————————————————————————————————————————-
| | |
IP (percent | | |
change) <1> | | |
1986 | .5 -.7 -.6 .1 .1 -.3 .6 -.2 .2 .5 .5 .9 | 2.3 -2.4 1.7 4.6 | 1.0
1987 | -.3 1.3 .2 .6 .7 .5 .6 .7 .3 1.5 .5 .5 | 5.4 7.2 7.3 10.2 | 5.2
1988 | .0 .4 .3 .6 -.1 .2 .2 .5 -.3 .6 .2 .4 | 3.5 3.5 2.1 3.2 | 5.2
1989 | .2 -.5 .2 .0 -.7 .0 -.9 .9 -.3 -.1 .3 .7 | 1.5 -1.8 -2.5 1.8 | .9
1990 | -.5 .9 .5 -.1 .2 .3 -.1 .2 .2 -.7 -1.2 -.7 | 3.2 2.8 1.4 -6.0 | 1.0
| | |
1991 | -.5 -.7 -.5 .2 1.0 1.0 .0 .1 .8 -.2 -.2 -.3 | -7.5 2.6 5.5 .7 | -1.6
1992 | -.6 .7 .8 .7 .4 .0 .8 -.5 .2 .7 .4 .0 | -.3 7.3 2.9 3.9 | 2.8
1993 | .5 .3 .0 .3 -.4 .2 .3 .0 .4 .7 .4 .5 | 3.5 1.2 2.1 6.0 | 3.3
1994 | .4 .0 1.1 .5 .6 .7 .2 .5 .2 .8 .7 1.1 | 5.2 7.4 5.2 8.2 | 5.3
1995 | .3 .0 .1 -.1 .2 .3 -.4 1.3 .4 -.2 .3 .5 | 5.3 .9 3.8 3.3 | 4.8
| | |
1996 | -.6 1.7 -.2 .7 .6 .9 -.1 .6 .5 .0 .9 .7 | 3.5 7.7 5.1 5.6 | 4.4
1997 | .1 1.2 .8 .0 .6 .5 .6 1.4 .9 .7 .9 .4 | 8.0 6.3 9.7 10.7 | 7.3
1998 | .4 .0 .0 .5 .6 -.5 -.4 2.1 -.3 .7 -.1 .3 | 4.1 3.1 2.9 5.2 | 5.9
1999 | .5 .4 .2 .2 .7 -.2 .6 .5 -.4 1.3 .6 .8 | 4.3 3.8 4.0 8.0 | 4.3
2000 | .1 .4 .4 .6 .2 .1 -.2 -.2 .4 -.4 .0 -.3 | 4.9 5.0 -.3 -1.3 | 4.2
| | |
2001 | -.7 -.6 -.3 -.3 -.7 -.6 -.5 -.4 -.4 -.6 -.5 .0 | -5.5 -5.2 -5.9 -5.2 | -3.4
2002 | .5 .1 .7 .4 .5 1.0 -.3 .1 .0 -.3 .4 -.5 | 2.3 6.3 2.3 -.5 | -.1
2003 | .6 .4 -.2 -.8 .0 .2 .4 -.1 .5 .1 .8 -.1 | 2.7 -2.9 2.8 3.7 | 1.2
2004 | .3 .5 -.5 .5 .7 -.8 .7 .3 -.1 1.0 .3 .6 | 2.6 2.0 2.0 5.8 | 2.5
2005 | .5 .6 .0 -.1 .3 .4 .0 .2 -1.8 1.2 1.1 .5 | 5.4 1.9 -.4 3.7 | 3.3
| | |
2006 | .1 -.1 .2 .4 -.1 .5 .3 .1 -.4 -.1 -.2 .6 | 3.2 2.6 1.9 -.9 | 2.2
2007 | -.4 .7 -.1 .5 .0 .3 .6 .0 .3 -.4 .4 .1 | 1.5 3.2 3.6 .3 | 1.7
2008 | .2 -.3 -.2 -.5 -.2 .1 .0 -1.3 -4.2 1.8 -1.3 -2.0 | .4 -3.4 -8.9 -11.5 | -1.8
| | |
IP | | |
(2002=100) | | |
2006 | 108.8 108.7 109.0 109.4 109.3 109.9 110.1 110.2 109.8 109.7 109.5 110.2 | 108.9 109.5 110.1 109.8 | 109.6
2007 | 109.8 110.5 110.4 111.0 111.0 111.4 112.0 112.0 112.3 111.8 112.3 112.4 | 110.2 111.1 112.1 112.2 | 111.4
2008 | 112.6 112.3 112.0 111.4 111.2 111.3 111.2 109.8 105.2 107.1 105.7 103.6 | 112.3 111.3 108.8 105.5 | 109.4
| | |
Capacity | | |
(percent of | | |
2002 output) | | |
2006 | 134.6 134.7 134.9 135.0 135.2 135.3 135.4 135.6 135.7 135.9 136.0 136.2 | 134.7 135.2 135.6 136.1 | 135.4
2007 | 136.4 136.6 136.8 137.0 137.2 137.4 137.6 137.9 138.1 138.3 138.5 138.7 | 136.6 137.2 137.9 138.5 | 137.5
2008 | 139.0 139.1 139.3 139.5 139.7 139.9 140.0 140.2 140.3 140.5 140.6 140.8 | 139.1 139.7 140.2 140.6 | 139.9
| | |
Utilization | | |
(percent) | | |
1986 | 79.7 79.0 78.4 78.4 78.4 78.1 78.5 78.3 78.3 78.6 78.8 79.4 | 79.0 78.3 78.4 78.9 | 78.7
1987 | 79.0 79.9 79.9 80.2 80.6 80.8 81.2 81.6 81.7 82.8 83.1 83.4 | 79.6 80.5 81.5 83.1 | 81.2
1988 | 83.3 83.5 83.7 84.1 83.9 84.1 84.2 84.5 84.2 84.6 84.6 84.9 | 83.5 84.0 84.3 84.7 | 84.1
1989 | 85.0 84.5 84.6 84.4 83.7 83.6 82.6 83.2 82.8 82.6 82.6 83.1 | 84.7 83.9 82.9 82.8 | 83.6
1990 | 82.5 83.0 83.2 82.9 82.9 83.0 82.7 82.8 82.8 82.1 80.9 80.3 | 82.9 83.0 82.8 81.1 | 82.4
| | |
1991 | 79.8 79.1 78.6 78.6 79.3 80.0 79.9 79.9 80.5 80.2 80.0 79.6 | 79.2 79.3 80.1 79.9 | 79.6
1992 | 79.0 79.5 80.0 80.4 80.5 80.4 80.9 80.3 80.4 80.8 80.9 80.8 | 79.5 80.5 80.5 80.9 | 80.3
1993 | 81.1 81.2 81.1 81.3 80.9 81.1 81.2 81.1 81.4 81.8 82.0 82.3 | 81.2 81.1 81.2 82.1 | 81.4
1994 | 82.5 82.3 83.0 83.2 83.4 83.7 83.7 83.8 83.7 84.2 84.4 85.1 | 82.6 83.4 83.7 84.5 | 83.6
1995 | 85.0 84.7 84.5 84.1 84.0 83.9 83.3 84.1 84.1 83.6 83.5 83.5 | 84.7 84.0 83.8 83.5 | 84.0
| | |
1996 | 82.6 83.6 83.1 83.3 83.4 83.7 83.2 83.4 83.4 83.0 83.4 83.5 | 83.1 83.5 83.3 83.3 | 83.3
1997 | 83.2 83.8 84.0 83.6 83.7 83.6 83.6 84.2 84.5 84.6 84.8 84.6 | 83.7 83.6 84.1 84.7 | 84.0
1998 | 84.4 83.9 83.4 83.3 83.3 82.4 81.6 82.9 82.3 82.5 82.0 82.0 | 83.9 83.0 82.3 82.2 | 82.8
1999 | 82.0 82.0 81.8 81.7 82.0 81.6 81.8 81.9 81.3 82.0 82.2 82.6 | 82.0 81.8 81.6 82.3 | 81.9
2000 | 82.4 82.4 82.4 82.6 82.5 82.4 81.9 81.5 81.6 81.0 80.7 80.2 | 82.4 82.5 81.6 80.6 | 81.8
| | |
2001 | 79.4 78.7 78.2 77.8 77.1 76.4 75.9 75.4 74.9 74.3 73.8 73.6 | 78.8 77.1 75.4 73.9 | 76.3
2002 | 73.8 73.8 74.2 74.4 74.7 75.4 75.1 75.2 75.2 75.0 75.4 75.1 | 73.9 74.8 75.2 75.2 | 74.8
2003 | 75.6 75.9 75.9 75.3 75.4 75.6 75.9 75.9 76.3 76.4 77.0 77.0 | 75.8 75.4 76.1 76.8 | 76.0
2004 | 77.2 77.6 77.1 77.5 78.0 77.4 77.9 78.1 78.0 78.7 79.0 79.4 | 77.3 77.6 78.0 79.1 | 78.0
2005 | 79.8 80.2 80.1 80.0 80.2 80.5 80.4 80.5 79.0 79.8 80.6 80.9 | 80.0 80.3 80.0 80.4 | 80.2
| | |
2006 | 80.9 80.7 80.8 81.1 80.9 81.2 81.3 81.3 80.9 80.8 80.5 80.9 | 80.8 81.0 81.2 80.7 | 80.9
2007 | 80.5 80.9 80.7 81.0 80.9 81.0 81.4 81.2 81.3 80.9 81.1 81.0 | 80.7 81.0 81.3 81.0 | 81.0
2008 | 81.0 80.7 80.4 79.9 79.6 79.6 79.4 78.3 75.0 76.3 75.2 73.6 | 80.7 79.7 77.6 75.0 | 78.2
——————————————————————————————————————————————-
<1> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.

Table 12
Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1>
Seasonally adjusted

——————————————————————————————————————————————-
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
——————————————————————————————————————————————-
| | |
IP (percent | | |
change) <2> | | |
1986 | 1.1 -.6 -.3 .4 .1 -.3 .6 .2 .2 .4 .5 .9 | 4.4 -.1 2.6 5.0 | 2.2
1987 | -.3 1.4 .1 .5 .8 .4 .7 .5 .6 1.6 .6 .6 | 6.0 6.9 7.1 11.7 | 5.7
1988 | -.2 .2 .3 .9 -.1 .1 .1 .1 .3 .6 .3 .4 | 2.5 4.5 1.4 4.9 | 5.4
1989 | .7 -1.0 -.1 .1 -.8 .1 -1.1 .9 -.2 -.2 .2 .2 | 1.7 -3.2 -3.0 .6 | .8
1990 | -.1 1.4 .4 -.3 .1 .2 -.2 .3 .0 -.8 -1.1 -.7 | 4.7 2.6 .7 -6.6 | .8
| | |
1991 | -.8 -.6 -.7 .3 .7 1.1 .2 .3 1.0 -.2 -.3 -.1 | -8.8 2.1 7.1 1.4 | -2.0
1992 | -.6 .9 1.0 .6 .6 .3 .8 -.5 .1 .6 .4 -.2 | .7 8.3 3.9 2.7 | 3.6
1993 | 1.0 .2 -.1 .6 -.1 -.1 .3 -.1 .6 .8 .4 .5 | 4.3 1.8 1.3 6.7 | 3.5
1994 | .2 .1 1.3 .8 .7 .3 .5 .7 .3 1.0 .8 1.2 | 5.0 9.4 6.1 9.9 | 5.9
1995 | .3 -.1 .2 -.2 .0 .4 -.6 1.2 .8 -.2 .1 .5 | 5.6 .3 3.1 4.1 | 5.2
| | |
1996 | -.7 1.7 -.3 1.0 .6 1.1 .3 .6 .6 -.1 .8 .9 | 2.8 8.7 7.5 5.9 | 4.8
1997 | .1 1.4 1.2 -.2 .9 .7 .5 1.7 .9 .7 1.1 .5 | 9.6 7.5 10.9 11.6 | 8.5
1998 | .7 .0 -.2 .7 .5 -.7 -.5 2.5 -.3 .9 .2 .5 | 5.7 2.6 3.1 7.5 | 6.7
1999 | .3 .7 -.1 .4 .9 -.3 .5 .7 -.4 1.6 .8 .7 | 4.8 4.2 3.7 9.6 | 5.0
2000 | .2 .3 .7 .6 -.1 .2 .0 -.5 .4 -.4 -.3 -.6 | 5.4 4.8 -.4 -2.9 | 4.5
| | |
2001 | -.6 -.6 -.3 -.2 -.7 -.7 -.4 -.7 -.4 -.7 -.3 .2 | -6.3 -5.4 -6.4 -5.1 | -4.1
2002 | .4 .1 .7 .1 .7 1.1 -.4 .3 .0 -.5 .4 -.5 | 2.8 5.7 3.1 -1.1 | -.1
2003 | .5 .2 .3 -1.0 .1 .6 .2 -.3 .7 .1 1.0 -.2 | 2.0 -1.9 2.6 4.1 | 1.3
2004 | .0 .6 -.1 .5 .7 -.7 .8 .7 -.2 1.0 .1 .5 | 2.1 3.3 3.9 5.4 | 2.9
2005 | .7 .7 -.3 .0 .6 .2 .0 .3 -1.0 1.5 .8 -.1 | 5.8 2.2 1.0 6.0 | 4.0
| | |
2006 | .7 -.4 .0 .5 -.3 .4 .1 .3 -.2 -.5 -.1 1.0 | 2.7 1.4 1.6 -1.1 | 2.4
2007 | -.6 .1 .7 .4 .2 .5 .8 -.4 .4 -.4 .2 .0 | 1.1 4.7 4.0 -.6 | 1.7
2008 | .0 -.6 .1 -.9 .0 -.2 -.2 -1.0 -3.9 .9 -2.2 -2.3 | -1.0 -4.1 -8.7 -16.2 | -2.6
| | |
IP | | |
(2002 = 100) | | |
2006 | 110.9 110.5 110.5 111.1 110.8 111.2 111.3 111.7 111.5 110.9 110.8 111.8 | 110.6 111.0 111.5 111.2 | 111.1
2007 | 111.1 111.3 112.0 112.4 112.6 113.2 114.1 113.6 114.0 113.5 113.8 113.8 | 111.5 112.8 113.9 113.7 | 112.9
2008 | 113.8 113.1 113.3 112.3 112.3 112.1 111.9 110.8 106.4 107.4 105.0 102.5 | 113.4 112.2 109.7 105.0 | 110.0
| | |
Capacity | | |
(percent of | | |
2002 output) | | |
2006 | 139.1 139.3 139.4 139.6 139.7 139.9 140.0 140.2 140.3 140.5 140.7 140.8 | 139.3 139.7 140.2 140.7 | 140.0
2007 | 141.0 141.2 141.4 141.7 141.9 142.1 142.4 142.7 142.9 143.2 143.4 143.7 | 141.2 141.9 142.7 143.4 | 142.3
2008 | 143.9 144.1 144.4 144.6 144.8 145.0 145.2 145.3 145.5 145.7 145.9 146.1 | 144.1 144.8 145.3 145.9 | 145.0
| | |
Utilization | | |
(percent) | | |
1986 | 78.8 78.2 77.9 78.2 78.2 77.9 78.2 78.3 78.4 78.5 78.8 79.3 | 78.3 78.1 78.3 78.9 | 78.4
1987 | 78.9 79.9 79.7 80.0 80.4 80.5 80.8 81.1 81.4 82.5 82.9 83.3 | 79.5 80.3 81.1 82.9 | 80.9
1988 | 83.0 83.1 83.3 83.9 83.8 83.8 83.9 83.9 84.1 84.5 84.7 84.9 | 83.1 83.8 84.0 84.7 | 83.9
1989 | 85.4 84.5 84.2 84.1 83.2 83.2 82.1 82.6 82.2 81.9 81.9 81.8 | 84.7 83.5 82.3 81.9 | 83.1
1990 | 81.6 82.5 82.6 82.3 82.2 82.2 81.9 81.9 81.8 81.0 79.9 79.2 | 82.2 82.2 81.9 80.0 | 81.6
| | |
1991 | 78.4 77.8 77.1 77.3 77.7 78.5 78.5 78.6 79.3 79.1 78.7 78.6 | 77.8 77.8 78.8 78.8 | 78.3
1992 | 78.0 78.5 79.1 79.4 79.7 79.8 80.2 79.7 79.5 79.8 79.9 79.6 | 78.5 79.6 79.8 79.8 | 79.4
1993 | 80.3 80.3 80.0 80.4 80.2 80.0 80.1 79.9 80.3 80.8 81.0 81.2 | 80.2 80.2 80.1 81.0 | 80.4
1994 | 81.2 81.1 82.0 82.4 82.7 82.7 82.8 83.1 83.1 83.6 83.9 84.6 | 81.4 82.6 83.0 84.0 | 82.8
1995 | 84.5 84.1 83.9 83.5 83.2 83.1 82.3 82.9 83.2 82.7 82.4 82.4 | 84.2 83.3 82.8 82.5 | 83.2
| | |
1996 | 81.4 82.3 81.6 82.0 82.0 82.5 82.3 82.3 82.4 81.9 82.2 82.4 | 81.8 82.2 82.3 82.2 | 82.1
1997 | 82.0 82.7 83.2 82.5 82.7 82.8 82.6 83.4 83.6 83.5 83.9 83.7 | 82.7 82.7 83.2 83.7 | 83.1
1998 | 83.7 83.1 82.4 82.3 82.2 81.1 80.2 81.7 81.0 81.3 81.0 81.1 | 83.1 81.9 81.0 81.1 | 81.8
1999 | 80.9 81.1 80.7 80.6 81.0 80.4 80.4 80.6 80.0 80.9 81.1 81.3 | 80.9 80.7 80.3 81.1 | 80.7
2000 | 81.1 81.0 81.2 81.3 80.9 80.8 80.4 79.7 79.7 79.1 78.5 77.8 | 81.1 81.0 79.9 78.5 | 80.1
| | |
2001 | 77.0 76.4 75.9 75.5 74.7 74.0 73.6 72.9 72.5 71.9 71.5 71.6 | 76.4 74.7 73.0 71.7 | 73.9
2002 | 71.8 71.8 72.2 72.2 72.7 73.5 73.1 73.4 73.4 73.1 73.4 73.0 | 71.9 72.8 73.3 73.2 | 72.8
2003 | 73.4 73.6 73.8 73.2 73.3 73.8 73.9 73.8 74.3 74.4 75.1 75.0 | 73.6 73.4 74.0 74.8 | 74.0
2004 | 75.0 75.5 75.4 75.8 76.3 75.7 76.3 76.8 76.6 77.3 77.4 77.7 | 75.3 75.9 76.6 77.5 | 76.3
2005 | 78.1 78.6 78.3 78.3 78.6 78.7 78.6 78.7 77.8 78.9 79.4 79.3 | 78.4 78.5 78.4 79.2 | 78.6
| | |
2006 | 79.7 79.3 79.2 79.6 79.3 79.5 79.5 79.7 79.4 78.9 78.7 79.4 | 79.4 79.4 79.5 79.0 | 79.4
2007 | 78.8 78.8 79.2 79.4 79.4 79.6 80.1 79.6 79.8 79.3 79.3 79.2 | 78.9 79.5 79.8 79.3 | 79.4
2008 | 79.1 78.5 78.5 77.7 77.6 77.3 77.1 76.2 73.1 73.7 71.9 70.2 | 78.7 77.5 75.5 71.9 | 75.9
——————————————————————————————————————————————-
<1> See note on cover page.
<2> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.

Table 13
Historical Statistics for Industrial Production, Capacity, and Utilization: Total Industry Excluding Selected High-Technology Industries
Seasonally adjusted

——————————————————————————————————————————————-
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
——————————————————————————————————————————————-
| | |
IP (percent | | |
change) <1> | | |
1986 | .5 -.8 -.7 .1 .1 -.2 .4 -.3 .1 .4 .4 .8 | 2.3 -2.6 .6 4.0 | .9
1987 | -.5 1.2 .2 .5 .6 .4 .5 .6 .2 1.4 .5 .4 | 4.4 6.4 6.0 9.2 | 4.3
1988 | .0 .4 .2 .5 -.2 .2 .1 .5 -.4 .5 .2 .4 | 3.0 2.8 1.4 2.9 | 4.4
1989 | .3 -.5 .3 -.1 -.7 .0 -1.1 .9 -.3 -.2 .2 .7 | 1.8 -2.0 -3.3 1.0 | .6
1990 | -.7 .9 .4 -.2 .1 .2 -.2 .2 .1 -.8 -1.3 -.7 | 2.4 2.2 1.0 -6.6 | .3
| | |
1991 | -.5 -.8 -.6 .2 .9 1.0 .0 .1 .9 -.2 -.2 -.5 | -8.0 2.1 5.4 .3 | -2.0
1992 | -.8 .7 .8 .6 .3 -.1 .8 -.6 .1 .6 .3 .0 | -1.8 6.2 1.7 2.8 | 1.9
1993 | .5 .3 -.1 .3 -.4 .2 .3 -.1 .3 .6 .3 .5 | 3.0 .5 1.5 5.1 | 2.5
1994 | .4 -.1 .9 .3 .4 .6 .1 .3 .0 .6 .4 .9 | 4.3 5.5 3.3 5.5 | 4.0
1995 | .2 -.2 -.2 -.3 .1 .1 -.5 1.1 .1 -.5 .1 .2 | 3.1 -1.4 1.4 .3 | 2.5
| | |
1996 | -1.0 1.4 -.4 .7 .5 .7 -.5 .4 .4 -.3 .8 .5 | -.2 6.1 2.2 3.3 | 1.7
1997 | -.1 .9 .5 -.4 .3 .2 .3 1.0 .7 .7 .7 .2 | 5.0 2.2 6.0 8.2 | 4.2
1998 | .2 -.1 -.1 .3 .5 -.9 -.8 2.0 -.6 .5 -.3 .0 | 1.6 1.0 -.4 2.1 | 3.1
1999 | .2 .1 -.1 -.1 .6 -.5 .3 .4 -.5 1.2 .3 .6 | .8 .4 1.0 5.6 | 1.2
2000 | -.3 .0 .1 .4 -.1 .0 -.5 -.4 .4 -.5 -.2 -.5 | .7 1.7 -2.8 -2.8 | 1.1
| | |
2001 | -.7 -.5 -.3 -.1 -.6 -.5 -.3 -.3 -.5 -.6 -.5 -.1 | -6.2 -4.3 -4.6 -5.3 | -4.0
2002 | .7 .0 .7 .3 .4 .9 -.3 .0 .0 -.3 .3 -.6 | 2.7 5.8 1.6 -1.1 | .0
2003 | .6 .2 -.3 -1.0 -.1 .1 .3 -.1 .5 .0 .7 -.1 | 1.3 -4.4 1.6 3.0 | .2
2004 | .2 .5 -.6 .6 .7 -.9 .7 .2 -.2 1.0 .3 .6 | 1.7 2.1 1.8 5.4 | 1.8
2005 | .4 .5 -.1 -.1 .3 .4 -.2 .0 -2.1 1.1 1.0 .5 | 4.8 1.3 -1.8 2.2 | 2.7
| | |
2006 | .0 -.2 .2 .3 -.2 .4 .2 .0 -.5 -.1 -.2 .6 | 2.6 1.7 1.1 -1.7 | 1.3
2007 | -.4 .7 -.2 .4 -.1 .2 .4 -.1 .2 -.6 .4 .0 | 1.4 2.2 2.2 -1.0 | .9
2008 | .2 -.4 -.4 -.6 -.2 .1 -.1 -1.3 -4.3 2.0 -1.1 -1.9 | -.4 -4.4 -9.2 -10.7 | -2.6
| | |
IP | | |
(2002 = 100) | | |
2006 | 105.8 105.6 105.8 106.2 106.0 106.4 106.6 106.6 106.1 106.0 105.7 106.3 | 105.7 106.2 106.5 106.0 | 106.1
2007 | 106.0 106.7 106.5 106.9 106.9 107.1 107.5 107.4 107.6 107.0 107.4 107.4 | 106.4 107.0 107.5 107.3 | 107.0
2008 | 107.6 107.2 106.8 106.1 105.9 105.9 105.9 104.5 100.0 102.0 100.8 98.9 | 107.2 106.0 103.4 100.6 | 104.3
| | |
Capacity | | |
(percent of | | |
2002 output) | | |
2006 | 130.3 130.4 130.5 130.6 130.7 130.8 130.9 131.0 131.1 131.2 131.3 131.4 | 130.4 130.7 131.0 131.3 | 130.9
2007 | 131.5 131.5 131.6 131.7 131.8 131.9 132.0 132.1 132.2 132.3 132.4 132.5 | 131.5 131.8 132.1 132.4 | 132.0
2008 | 132.7 132.8 132.8 132.9 133.0 133.1 133.2 133.3 133.4 133.5 133.5 133.6 | 132.7 133.0 133.3 133.5 | 133.2
| | |
Utilization | | |
(percent) | | |
1986 | 80.2 79.4 78.8 78.8 78.8 78.6 78.8 78.5 78.6 78.8 79.1 79.6 | 79.5 78.7 78.6 79.2 | 79.0
1987 | 79.2 80.1 80.1 80.4 80.8 81.1 81.4 81.8 81.9 83.0 83.3 83.6 | 79.8 80.8 81.7 83.3 | 81.4
1988 | 83.6 83.9 84.0 84.4 84.2 84.3 84.4 84.7 84.4 84.7 84.9 85.2 | 83.8 84.3 84.5 84.9 | 84.4
1989 | 85.3 84.8 85.0 84.8 84.1 84.0 83.0 83.6 83.2 82.9 82.9 83.4 | 85.1 84.3 83.2 83.1 | 83.9
1990 | 82.7 83.3 83.5 83.2 83.2 83.3 83.0 83.1 83.1 82.4 81.2 80.5 | 83.2 83.2 83.1 81.4 | 82.7
| | |
1991 | 80.0 79.3 78.7 78.8 79.4 80.1 80.0 80.0 80.6 80.3 80.1 79.6 | 79.3 79.5 80.2 80.0 | 79.8
1992 | 78.9 79.4 79.9 80.4 80.5 80.3 80.9 80.3 80.4 80.8 81.0 80.9 | 79.4 80.4 80.5 80.9 | 80.3
1993 | 81.2 81.4 81.3 81.5 81.1 81.1 81.3 81.2 81.4 81.9 82.1 82.4 | 81.3 81.2 81.3 82.1 | 81.5
1994 | 82.6 82.5 83.1 83.3 83.5 83.9 83.8 83.9 83.8 84.2 84.4 85.0 | 82.7 83.5 83.8 84.5 | 83.7
1995 | 85.0 84.7 84.4 84.1 83.9 83.9 83.3 84.1 84.0 83.4 83.3 83.3 | 84.7 84.0 83.8 83.4 | 84.0
| | |
1996 | 82.3 83.3 82.8 83.3 83.5 83.9 83.4 83.5 83.6 83.2 83.6 83.8 | 82.8 83.6 83.5 83.6 | 83.4
1997 | 83.5 84.0 84.2 83.6 83.6 83.5 83.4 84.0 84.3 84.5 84.8 84.6 | 83.9 83.5 83.9 84.6 | 84.0
1998 | 84.5 84.1 83.7 83.7 83.9 82.9 82.0 83.4 82.6 82.8 82.3 82.2 | 84.1 83.5 82.7 82.4 | 83.2
1999 | 82.1 82.1 81.8 81.5 81.9 81.3 81.4 81.6 81.0 81.8 82.0 82.3 | 82.0 81.6 81.3 82.0 | 81.7
2000 | 81.9 81.8 81.8 82.0 81.8 81.7 81.2 80.8 81.0 80.4 80.2 79.7 | 81.8 81.8 81.0 80.1 | 81.2
| | |
2001 | 79.1 78.5 78.2 78.0 77.5 77.0 76.7 76.4 75.9 75.4 75.0 74.8 | 78.6 77.5 76.3 75.1 | 76.9
2002 | 75.3 75.2 75.7 76.0 76.3 76.9 76.7 76.7 76.8 76.6 76.9 76.5 | 75.4 76.4 76.7 76.7 | 76.3
2003 | 77.0 77.2 77.1 76.4 76.4 76.5 76.8 76.7 77.1 77.1 77.7 77.6 | 77.1 76.4 76.8 77.4 | 77.0
2004 | 77.7 78.1 77.6 78.0 78.6 77.9 78.5 78.6 78.5 79.3 79.6 80.1 | 77.8 78.2 78.6 79.7 | 78.5
2005 | 80.4 80.8 80.8 80.6 80.9 81.2 81.0 81.0 79.3 80.1 80.9 81.2 | 80.6 80.9 80.4 80.7 | 80.7
| | |
2006 | 81.2 81.0 81.1 81.3 81.0 81.3 81.4 81.4 80.9 80.8 80.5 80.9 | 81.1 81.2 81.2 80.7 | 81.1
2007 | 80.6 81.1 80.9 81.2 81.1 81.2 81.4 81.3 81.4 80.9 81.1 81.0 | 80.9 81.1 81.4 81.0 | 81.1
2008 | 81.1 80.7 80.4 79.8 79.6 79.6 79.5 78.4 75.0 76.4 75.5 74.0 | 80.7 79.7 77.6 75.3 | 78.3
——————————————————————————————————————————————-
<1> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.
Note. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components.

Table 14
Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1> Excluding Selected High-Technology Industries
Seasonally adjusted

——————————————————————————————————————————————-
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
——————————————————————————————————————————————-
| | |
IP (percent | | |
change) <2> | | |
1986 | 1.2 -.7 -.3 .4 .1 -.2 .2 .2 .2 .4 .4 .8 | 4.7 -.2 1.3 4.3 | 2.1
1987 | -.5 1.4 .1 .4 .7 .3 .6 .3 .5 1.5 .6 .5 | 4.7 5.9 5.5 10.5 | 4.6
1988 | -.2 .2 .2 .8 -.2 .0 .0 .1 .3 .5 .3 .4 | 1.8 3.6 .5 4.5 | 4.4
1989 | .8 -1.0 -.1 .0 -.8 .1 -1.3 .9 -.3 -.3 .1 .2 | 2.1 -3.5 -4.1 -.5 | .4
1990 | -.2 1.4 .3 -.3 .1 .2 -.2 .3 -.1 -.9 -1.2 -.8 | 3.8 1.9 .2 -7.4 | .0
| | |
1991 | -.8 -.8 -.8 .4 .6 1.1 .3 .2 1.1 -.2 -.4 -.3 | -9.6 1.5 7.1 .9 | -2.6
1992 | -.8 .9 .9 .4 .5 .1 .8 -.5 -.1 .5 .3 -.3 | -1.1 7.0 2.6 1.3 | 2.6
1993 | 1.1 .1 -.3 .5 -.2 -.2 .3 -.2 .5 .7 .3 .5 | 3.9 .9 .5 5.7 | 2.5
1994 | .1 .0 1.2 .6 .5 .2 .3 .5 .1 .7 .6 1.0 | 3.9 7.2 3.8 6.7 | 4.4
1995 | .2 -.3 -.1 -.4 -.2 .2 -.8 .9 .6 -.5 -.1 .1 | 3.1 -2.5 .2 .6 | 2.5
| | |
1996 | -1.2 1.4 -.5 1.0 .4 .9 -.1 .3 .4 -.4 .7 .7 | -1.7 6.8 4.2 3.1 | 1.5
1997 | -.2 1.0 .9 -.7 .5 .4 .1 1.3 .6 .6 .9 .2 | 6.0 2.6 6.6 8.7 | 4.9
1998 | .5 -.2 -.3 .4 .4 -1.1 -.9 2.4 -.7 .7 -.1 .2 | 2.9 .1 -.8 4.0 | 3.5
1999 | .0 .4 -.4 .0 .8 -.7 .0 .6 -.5 1.4 .4 .4 | .8 .3 .2 7.0 | 1.4
2000 | -.3 -.2 .3 .4 -.5 .1 -.4 -.8 .4 -.5 -.6 -.9 | .4 .9 -3.5 -4.9 | .8
| | |
2001 | -.6 -.5 -.3 -.1 -.7 -.5 -.1 -.7 -.4 -.7 -.2 .1 | -7.3 -4.4 -4.9 -5.1 | -4.9
2002 | .6 .0 .7 .0 .6 1.0 -.5 .3 .0 -.5 .3 -.7 | 3.3 5.0 2.3 -1.9 | .0
2003 | .4 -.1 .1 -1.1 .0 .4 .0 -.4 .7 -.1 .9 -.3 | .4 -3.7 1.2 3.2 | .0
2004 | -.2 .6 -.2 .6 .7 -.8 .9 .6 -.3 1.0 .1 .5 | 1.1 3.5 3.7 4.9 | 2.2
2005 | .6 .6 -.3 .0 .5 .2 -.1 .1 -1.3 1.5 .7 -.1 | 5.0 1.4 -.7 4.3 | 3.3
| | |
2006 | .7 -.5 .0 .5 -.4 .3 .0 .2 -.3 -.6 -.2 1.0 | 1.9 .3 .5 -2.1 | 1.2
2007 | -.6 .1 .6 .3 .1 .4 .5 -.5 .3 -.7 .1 .0 | .9 3.5 2.3 -2.3 | .7
2008 | .0 -.8 -.1 -1.0 .0 -.2 -.2 -1.0 -4.1 1.1 -2.0 -2.2 | -2.1 -5.5 -9.1 -15.4 | -3.7
| | |
IP | | |
(2002 = 100) | | |
2006 | 107.2 106.6 106.6 107.1 106.7 107.0 107.0 107.2 106.9 106.2 106.1 107.1 | 106.8 106.9 107.0 106.5 | 106.8
2007 | 106.4 106.5 107.2 107.5 107.5 107.9 108.5 108.0 108.3 107.5 107.7 107.6 | 106.7 107.6 108.3 107.6 | 107.6
2008 | 107.6 106.8 106.7 105.6 105.6 105.4 105.2 104.1 99.9 100.9 98.9 96.7 | 107.1 105.6 103.1 98.8 | 103.6
| | |
Capacity | | |
(percent of | | |
2002 output) | | |
2006 | 134.0 134.1 134.2 134.3 134.4 134.5 134.6 134.6 134.7 134.8 134.8 134.9 | 134.1 134.4 134.6 134.8 | 134.5
2007 | 135.0 135.1 135.1 135.2 135.3 135.4 135.5 135.6 135.7 135.8 135.9 136.0 | 135.1 135.3 135.6 135.9 | 135.5
2008 | 136.1 136.2 136.3 136.4 136.5 136.6 136.7 136.7 136.8 136.9 137.0 137.1 | 136.2 136.5 136.7 137.0 | 136.6
| | |
Utilization | | |
(percent) | | |
1986 | 79.4 78.8 78.4 78.7 78.7 78.5 78.6 78.6 78.7 78.8 79.1 79.6 | 78.9 78.6 78.6 79.2 | 78.8
1987 | 79.1 80.1 80.1 80.2 80.7 80.8 81.1 81.3 81.6 82.8 83.2 83.6 | 79.8 80.6 81.4 83.2 | 81.2
1988 | 83.3 83.5 83.7 84.3 84.1 84.1 84.1 84.1 84.3 84.7 84.9 85.2 | 83.5 84.2 84.2 85.0 | 84.2
1989 | 85.8 84.9 84.7 84.5 83.7 83.7 82.4 83.0 82.6 82.2 82.1 82.1 | 85.1 84.0 82.7 82.1 | 83.5
1990 | 81.8 82.8 82.9 82.5 82.5 82.5 82.2 82.3 82.1 81.3 80.2 79.4 | 82.5 82.5 82.2 80.3 | 81.9
| | |
1991 | 78.7 77.9 77.2 77.4 77.7 78.5 78.6 78.7 79.4 79.2 78.8 78.5 | 77.9 77.9 78.9 78.8 | 78.4
1992 | 77.8 78.4 79.0 79.3 79.6 79.6 80.1 79.6 79.5 79.8 79.9 79.6 | 78.4 79.5 79.8 79.8 | 79.3
1993 | 80.4 80.4 80.1 80.5 80.3 80.0 80.2 79.9 80.2 80.7 80.9 81.2 | 80.3 80.2 80.1 81.0 | 80.4
1994 | 81.3 81.2 82.0 82.4 82.7 82.7 82.9 83.2 83.1 83.5 83.9 84.5 | 81.5 82.6 83.0 84.0 | 82.8
1995 | 84.5 84.1 83.8 83.3 83.0 83.0 82.2 82.7 83.0 82.4 82.1 82.1 | 84.1 83.1 82.6 82.2 | 83.0
| | |
1996 | 80.9 81.9 81.2 81.8 82.0 82.5 82.3 82.4 82.5 82.0 82.4 82.7 | 81.3 82.1 82.4 82.4 | 82.1
1997 | 82.3 82.9 83.3 82.4 82.5 82.5 82.3 83.0 83.2 83.3 83.7 83.6 | 82.8 82.5 82.8 83.5 | 82.9
1998 | 83.6 83.2 82.6 82.6 82.7 81.5 80.5 82.1 81.3 81.6 81.3 81.2 | 83.1 82.3 81.3 81.3 | 82.0
1999 | 81.0 81.1 80.5 80.3 80.7 80.0 79.8 80.1 79.5 80.5 80.7 80.9 | 80.9 80.3 79.8 80.7 | 80.4
2000 | 80.4 80.2 80.3 80.4 79.9 79.8 79.4 78.7 78.8 78.3 77.7 77.0 | 80.3 80.1 79.0 77.7 | 79.3
| | |
2001 | 76.4 75.9 75.6 75.5 74.9 74.4 74.3 73.8 73.5 72.9 72.8 72.8 | 76.0 74.9 73.9 72.8 | 74.4
2002 | 73.3 73.3 73.8 73.8 74.3 75.1 74.8 75.0 75.1 74.7 75.0 74.5 | 73.4 74.4 74.9 74.7 | 74.4
2003 | 74.9 74.9 75.1 74.3 74.3 74.7 74.7 74.5 75.1 75.1 75.8 75.6 | 75.0 74.4 74.8 75.5 | 74.9
2004 | 75.5 75.9 75.8 76.3 76.8 76.2 76.9 77.4 77.2 77.9 78.0 78.3 | 75.7 76.4 77.2 78.1 | 76.9
2005 | 78.8 79.2 79.0 78.9 79.3 79.3 79.2 79.2 78.1 79.2 79.7 79.5 | 79.0 79.2 78.9 79.5 | 79.1
| | |
2006 | 80.0 79.5 79.4 79.7 79.4 79.5 79.5 79.6 79.4 78.8 78.6 79.4 | 79.7 79.5 79.5 79.0 | 79.4
2007 | 78.8 78.9 79.3 79.5 79.5 79.7 80.1 79.6 79.8 79.2 79.2 79.2 | 79.0 79.6 79.8 79.2 | 79.4
2008 | 79.1 78.4 78.3 77.5 77.4 77.2 77.0 76.2 73.0 73.7 72.2 70.5 | 78.6 77.4 75.4 72.1 | 75.9
——————————————————————————————————————————————-
<1> See note on cover page.
<2> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.
Note. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components.

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 at
www.federalreserve.gov/releases/G17 at the Board’s World Wide Web
site. In addition, files containing data shown in the release, more detailed
series that are published in a monthly supplement to the G.17, and
historical data are available at the Board’s Web site. Instructions for
searching for and downloading specific series are provided as well. For
paid access to the data files through the Department of Commerce’s
Economic Bulletin Board or World Wide Web site, please call STAT-USA
at 1-800-STAT-USA or 202-452-1986. Diskettes containing historical
data and the data published in this release also are available from the
Board of Governors of the Federal Reserve System, Publications Services,
202-452-3245.

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 2002. 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 1997, the total IP index has been
constructed from 312 individual series based on the 2002 North American
Industrial Classification System (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 web site
(www.federalreserve.gov/releases/G17/About.htm). Changes in
output for the market and industry groups are summarized in table 1 and
the levels of output (in index form) are shown in table 4. Special
aggregates, that highlight the relative importance and contributions of
several key industries, such as high-technology and motor vehicles, are
summarized in tables 2 and 5. For a detailed description of the contents of
the statistical tables, see below.

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 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 or sales and unit values) by a
corresponding Fisher price index; the most notable of these fall within the
high-technology grouping and include computers, communications
equipment, and 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 United States 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 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 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 8 percent. If output in this industry increased 10 percent in a month,
then this gain would boost growth in total IP by 8/10 percentage point
(0.08 x 10% = 0.8%). To assist users with calculations, the Federal
Reserve’s web site 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, beginning with the release of March 2008 data,
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 70 percent of the source data (in value-added
terms) are available; the fraction of available source data increases to about
84 percent for estimates in the second month that the estimate is published,
98 percent in the third month, and 98 percent in the fourth month. Data
availability by data type, based on the four-month reporting window used in 2007,
is summarized in the table below:

Availability of Monthly IP Data in Publication Window
(Percent of value added in 2007)
Month of estimate
Type of data 1st 2nd 3rd 4th
Physical product 29 42 56 56
Production-worker hours 42 42 42 42
IP data received 70 84 98 98
IP data estimated 30 16 2 2
The physical product group includes series based on either
monthly or quarterly data. As can be seen in the first line of the table, in
the first month, a physical product indicator is available for about half of
the series (in terms of value added) that ultimately are based on physical
product data (29 percent out of total of 56 percent). Of the 29 percent,
about two-thirds (19 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 third estimate of industrial production. Specifically, quarterly data
are available for the second estimate of the last month of a quarter, the
third estimate of the second month of a quarter, and the fourth estimate of
the first month of a quarter. The incorporation of a six-month window is expected
to allow an additional 3 percent to 4 percent of IP to reflect primary source data.

Seasonal adjustment. Individual series are seasonally adjusted using
Census X-12 ARIMA. For series based on production-worker hours, the
current seasonal factors were estimated with data through January 2008;
for other series, the factors were estimated with data through at least
September 2007. 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.

Reliability. The average revision to the level of the total IP index, without
regard to sign, between the first and the fourth estimates was 0.26 percent
during the 1987-2006 period. The average revision to the percent change
in total IP, without regard to sign, from the first to the fourth estimates was
0.21 percentage point during the 1987-2006 period. In most cases (about
85 percent), the direction of 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 87 detailed industries
(69 in manufacturing, 16 in mining, and 2 in utilities), which mostly
correspond to industries at the three- and four-digit 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 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. Also, special aggregates are available, such as high-tech
industries and manufacturing excluding high-tech 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 (e.g., paper,
industrial chemicals, petroleum refining, motor vehicles), as well as for
electric utilities and mining; these industries represent about 24 percent of
total industrial capacity. When physical product data are unavailable for
manufacturing industries, capacity indexes are based on responses to the
Bureau of the Census’s Survey of Plant Capacity (SPC); these industries
account for a bit less than 72 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 4 percent of total
industry capacity). A detailed description of the methodology used to
construct the capacity indexes is available on the Board’s web site
(www.federalreserve.gov/releases/G17/CapNotes.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
was a survey of large companies that reported, on average, higher
utilization rates than those reported by establishments covered by the SPC
(currently the primary source of factory operating rates) for the fourteen
years they overlapped. Adjustments have been made to keep the industry
utilization rates currently reported by the Federal Reserve 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 SPC.

Perspective. Over the 1972-2007 period, the average total industry
utilization rate is 81.0 percent; for manufacturing, the average factory
operating rate has been 79.7 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 industry and
total manufacturing, utilization rates have exceeded 90 percent only in
wartime. The highs and lows in capacity utilization shown in table 7 are
specific to each series and do not all occur in the same month.

References and Release Dates

References. The annual revision published in March 2008 will be described
in a Federal Reserve Bulletin article to be published in the summer of 2008. The
annual revision published in December 2006 is described in an article published
in the Federal Reserve Bulletin, vol. 93, pp. A39-A58, www.federalreserve.gov/pubs/bulletin.
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, Winter 2006, May 2007).

Release Schedule

At 9:15 a.m. on

2008: January 16, February 15, March 17, April 16, May 15, June 17,
July 16, August 15, September 15, October 16, November 17, and
December 15.

2009: January 16, February 18, March 16, April 15, May 15, June 16,
July 15, August 14, September 16, October 16, November 17, and
December 15.

Source: Federal Reserve Board