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Industrial production (IP) edged down 0.1 percent in July. Manufacturing output was unchanged after increasing 0.3 percent in June. In July, the index for mining declined 0.4 percent, and the index for utilities decreased 0.2 percent. At 104.0 percent of its 2017 average, total IP in July was 1.4 percent above its year-earlier level. Capacity utilization moved down to 77.5 percent in July, a rate that is 2.1 percentage points below its long-run (1972–2024) average.

Industrial Production and Capacity Utilization: Summary

Market Groups

The major market groups posted mixed results in July. The index of durable consumer goods ticked up 0.1 percent; among consumer durable goods, the production of automotive products increased 0.7 percent, and the index for appliances, furniture, and carpeting decreased 1.5 percent. The index of nondurable consumer goods edged up 0.1 percent, supported by increases in the index for chemical products and the index for nondurable energy consumer goods. The indexes for business equipment and for defense and space equipment both increased, while the indexes for construction supplies and for business supplies both decreased. The output of non-energy materials moved down by 0.2 percent, with most categories posting declines. The index for energy materials decreased 0.4 percent.

Industry Groups

Manufacturing output was unchanged in July but was 1.4 percent above its year-earlier level. In July, the production of durables increased 0.3 percent. Within durables, the indexes for electrical equipment, appliances, and components, for aerospace and miscellaneous transportation equipment, for furniture and related products, and for other miscellaneous manufacturing each rose 1.0 percent or more. In contrast, the indexes for primary metals, for machinery, and for motor vehicles and parts each declined 0.3 percent. The production of nondurables decreased 0.4 percent, with output declining in all nondurables categories.

Mining output decreased 0.4 percent in July but was 1.9 percent above its year-earlier level. In July, the index for utilities decreased 0.2 percent, with a decline in electric utilities output more than offsetting an increase in the output of natural gas utilities.

Capacity utilization for manufacturing edged down 0.1 percent in July to 76.8 percent, a rate that is 1.4 percentage points below its long-run (1972–2024) average. In July, the operating rate for mining moved down 0.5 percentage point to 90.3 percent, and the operating rate for utilities decreased 0.4 percentage point to 70.0 percent. The rate for mining was 3.8 percentage points above its long-run average, while the rate for utilities remained substantially below its long-run average.

Release Dates for 2026

In 2026, the G.17 release on Industrial Production and Capacity Utilization will be published at 9:15 a.m. on January 16, February 18, March 16, April 16, May 15, June 15, July 17, August 18, September 18, October 16, November 17, and December 16.

Revision of Industrial Production and Capacity Utilization

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

Capacity and capacity utilization will be revised to incorporate data for manufacturing through the fourth quarter of 2024 from the U.S. Census Bureau's Quarterly Survey of Plant Capacity Utilization, along with new data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations.

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.

G.17 Release Tables:

• Summary: Industrial Production and Capacity Utilization
• Chart 1: Industrial Production, Capacity, and Capacity Utilization
• Chart 2: Industrial Production and Capacity Utilization
• Chart 3: Industrial Production of Selected Industries
• Table 1: Industrial Production: Market and Industry Groups (percent change)
• Table 2: Industrial Production: Special Aggregates and Selected Detail (percent change)
• Table 3: Motor Vehicle Assemblies
• Table 4: Industrial Production Indexes: Market and Industry Group Summary
• Table 5: Industrial Production Indexes: Special Aggregates
• Table 6: Diffusion Indexes of Industrial Production
• Table 7: Capacity Utilization: Manufacturing, Mining, and Utilities
• Table 8: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change)
• Table 9: Industrial Production: Gross Value of Products and Nonindustrial Supplies
• Table 10: Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
• Table 11: Historical Statistics for IP, Capacity, and Utilization: Total Industry
• Table 12: Historical Statistics for IP, Capacity, and Utilization: Manufacturing
• Table 13: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries
• Table 14: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries
• Table 15: Industrial Production: Reliability Estimates

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