United States - Industrial Production: Durable consumer goods

For the U.S., the FRB G.17 statistical release includes an industrial production index (IP), which measures the change in real output in U.S. manufacturing, mining, and electric and gas utilities industries. Output refers to the physical quantity of items produced, as distinct from sales value, which combines quantity and price. The index covers the production of goods and power for domestic sales and exports. It excludes production in agriculture, communication, construction, finance, government, imports, services, trade and transportation.

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. 

Active:

• Industry classification: NAICS 2022
• Measurements:
  • Billions of U.S. dollars at chained year-2017 prices (Bil. Ch. 2017 USD)
  • Fixed-base index relative to 2017 (Index 2017=100)
  • Percentage (%)
• Adjustments:
  • Not seasonally adjusted (NSA)
  • Seasonally adjusted (SA)
• Native frequencies:
  • Monthly
  • Quarterly
  • Annual
• Start date: As early as 1919m1

Predecessors:

• NAICS 2017 and 2017=100 - 1919m1 to 2025m8 ("_I2017")
• NAICS 2012 and 2012=100 - 1919m1 to 2021m4 ("_12")
• NAICS 2007 and 2007=100 - 1919m1 to 2015m6 ("_07")
• NAICS 2002 and 2002=100 - 1919m1 to 2010m5 ("_02")
• SIC

Predecessors for gross value (Table 9):

• At 2009 prices - 1972m1 to 2019m2 ("_09")
• At 2009 prices - 1972m1 to 2015m6 ("_07")
• At 2005 prices - 1972m1 to 2013m8 ("_05")
• At 1997 prices - 1972m1 to 2010m5 ("_02")

Global concept alias(es):

• IP

Industries are classified by NAICS 2017 and SIC.

The IP is developed by weighting each component according to its relative importance in the base period. The information for weights is obtained from the value added measures of production in the economic censuses of manufacturer and minerals industries and from value added information for the utility industries in Internal Revenue Service statistics of income data. The weights are updated at five-year intervals to coincide with the economic censuses.

Data are available for electric power use. Data on electric power are collected by the Federal Reserve District Banks from electric utilities and also from manufacturing and mining establishments that generate power for their own use. The indexes of power use are sums of kilowatt-hours used by an industry or industry group expressed as a percentage of that industry’s or industry group’s usage in 1987.

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 25 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 70 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 5 percent of total industry capacity).  

Capacity Indexes have a unit descriptor Index. The series are defined this way because actual IP output is defined as 2017=100 however the capacity series are indexed to 2017 but represent the max capacity of which could have been outputted at that time.

Moody's Analytics supplements

We compute select series.

Series IPPB.IUSA is a Moody's Analytics supplement for "printing and newspaper, periodical, book and database publishers." We compute this as the sum of two reported series. The component industries have changed from 323 and 5111 (NAICS 2017) to 323 and 5131 (NAICS 2022).

Yes. Initial monthly figures are revised in each of the subsequent three months. Annual revisions, released each spring, revise the previous two years of data. A benchmark revision is performed every fifth year.

The currency reference year for the gross value added measures is advanced in response to changes in NIPA.

Identities

Capacity utilization rate = 100 * Industrial production / Capacity

CU<ind>.IUSA = (100 * IP<ind>.IUSA / CAP<ind>.IUSA)

Federal shutdown 2025

The joint and delayed release of estimates of October and November industrial production and capacity utilization (IP/CU) and the earlier delayed release of IP/CU for September led to unusual patterns of data availability and revision timing for recent months.

Further reading

At the source:

• About
• Documentation for the revision history of Industrial Production
• 2025 annual revision (24 Nov 2025)
• Technical Q&A (23 Dec 2025)

Keywords

"Capacity utilization for manufacturing," "factory operating rate," CUMANU.US, FRB DDP ID CAPUTL.B00004.S, UTLB00004

• Apr 2005 - Initial version.
• Jun 2010 - Rebased from 2002 to 2007.
• Nov 2013 - Table 9 currency reference year advanced from 2005 to 2009.
• Apr 2019 - Table 9 advanced from 2009 to 2012.
• Jun 2021 - Reclassified to NAICS 2017.
• 6 Jan 2025, Phillip Thorne - Classification advanced to NAICS 2022: Properties.
• 20 Jan 2025, Phillip Thorne - Identities.