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Industrial Production and Capacity Utilization (Annual Revision) – G.17

Industrial Production and Capacity Utilization (Annual Revision) – G.17: “The Federal Reserve has revised its index of industrial production (IP) and the related measures of capacity and capacity utilization. Although the revisions affect these data for January 1972 through February 2011, the most significant effects are for the period from 2008 through 2010. Measured from fourth quarter to fourth quarter, total IP is now reported to have declined 1.4 percentage points and 1.7 percentage points more sharply in 2008 and in 2009, respectively, and to have risen 0.5 percentage point more rapidly in 2010. That said, the broad contour of total IP in recent years is similar to previous estimates, and the dates of the recent peak (September 2007) and the recent trough (June 2009) are unchanged from the earlier estimates. However, the peak-to-trough decline in total IP, at 17.1 percent, is 2.0 percentage points larger than previously estimated. As of February 2011, total IP is now shown to have reversed about 55 percent of its peak-to-trough decline, somewhat less than previously reported.”

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