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Industrial Production and Capacity Utilization: Annual Revision and 1997 Developments

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  • Richard D. Raddock

Abstract

In December 1997, the Board of Governors published the results of an annual revision of its measures of industrial production and capacity utilization, which cover the nation's manufacturing, mining, and electric and gas utilities industries. The revision entailed primarily the incorporation of new and more comprehensive source data, the most important of which were annual figures on industry real output in 1995 and survey information on industry utilization rates for the fourth quarters of 1995 and 1996. The revised measures show stronger growth of production and capacity and lower rates of capacity utilization since 1992 than did earlier estimates. The revised production indexes and the new source data on utilization rates implied that manufacturing capacity growth was stronger than previously estimated.

Suggested Citation

  • Richard D. Raddock, 1998. "Industrial Production and Capacity Utilization: Annual Revision and 1997 Developments," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 84(2), pages .77-91, February.
    • Handle: RePEc:fip:fedgrb:89504
    DOI: 10.17016/bulletin.1998.84-2
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    More about this item

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L70 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - General
    • L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General

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