--- source: Federal Reserve url: https://www.federalreserve.gov/releases/g17/current/default.htm document_type: html date_retrieved: 2026-04-16 period: March 2026 parent_publication: Industrial Production and Capacity Utilization - G.17 indicators_covered: [Manufacturing Production MoM, Manufacturing Production YoY, Industrial Production MoM, Capacity Utilization, Industrial Production YoY] --- 1. [Home](https://www.federalreserve.gov/default.htm) 2. [Data](https://www.federalreserve.gov/data.htm) ## Industrial Production and Capacity Utilization - G.17 - [Current Release](default.htm "Current Release") - [Release Dates](../default.htm "Release Dates") - [Monthly Supplement](default_sup.htm "Monthly Supplement") - [Annual Revision](../revisions/Current/DefaultRev.htm "Annual Revision") - [Data Download](../download.htm "Data Download") - [Other Data](../other_data.htm "Other Data") - [About](../About.htm "About") - [100 Years](../100_years_of_ip_data.htm "100 Years") - [Announcements](/feeds/g17.html "Announcements") - [Technical Q&As](../g17_technical_qa.htm "Technical Q&As") On December 18, the "View chart" feature in the Data Download Program (DDP) was retired. Users seeking interactive charts for Board DDP data releases can access expanded functionality for customizing, sharing, and accessing charts through the Federal Reserve Bank of St. Louis's [Federal Reserve Economic Data (FRED)](https://fred.stlouisfed.org/collection/federal-reserve-board-data), as part of the [DDP and FRED partnership](/data/data-download-fred-information.htm). ### Current Release [PDF](g17.pdf) [ASCII](g17.txt) [RSS](/feeds/g17.html) [Data Download](/datadownload/Choose.aspx?rel=g17 "Data Download Program") [FRED](https://fred.stlouisfed.org/release?rid=13) Release Date: April 16, 2026 Industrial production (IP) dropped 0.5 percent in March but still grew at an annual rate of 2.4 percent in the first quarter. Similarly, manufacturing output ticked down 0.1 percent in March yet grew at a 3.0 percent rate in the first quarter. The indexes for mining and for utilities moved down 1.2 and 2.3 percent, respectively, in March. At 101.8 percent of its 2017 average, total industrial production was 0.7 percent above its year-earlier level. Capacity utilization receded to 75.7 percent, a rate that is 3.7 percentage points below its long-run (1972–2025) average. ##### Industrial Production and Capacity Utilization: Summary Seasonally adjusted | Industrial production | 2017=100 | | | | | | Percent change | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025 | | | 2026 | | | 2025 | | | 2026 | | | Mar. '25 to Mar. '26 | | Oct.[r] | Nov.[r] | Dec.[r] | Jan.[r] | Feb.[r] | Mar.[p] | Oct.[r] | Nov.[r] | Dec.[r] | Jan.[r] | Feb.[r] | Mar.[p] | | | | | | | | | | | | | | | | | Total index | 101.2 | 101.1 | 101.6 | 101.6 | 102.3 | 101.8 | -.4 | -.1 | .5 | .0 | .7 | -.5 | .7 | | Previous estimates | 101.2 | 101.4 | 101.7 | 102.4 | 102.6 | | -.5 | .2 | .3 | .7 | .2 | | | | | | | | | | | | | | | | | | | Major market groups | | | | | | | | | | | | | | | Final Products | 97.4 | 96.9 | 98.0 | 97.6 | 98.3 | 97.5 | -.5 | -.5 | 1.2 | -.4 | .7 | -.7 | .2 | | Consumer goods | 97.6 | 96.9 | 98.2 | 97.2 | 98.0 | 97.1 | -.6 | -.7 | 1.3 | -1.0 | .8 | -1.0 | -1.4 | | Business equipment | 94.1 | 94.3 | 95.1 | 96.0 | 96.4 | 96.1 | -.6 | .2 | .9 | 1.0 | .4 | -.3 | 4.6 | | Nonindustrial supplies | 97.6 | 97.8 | 97.9 | 98.6 | 98.8 | 98.8 | -.4 | .2 | .1 | .7 | .2 | .1 | .6 | | Construction | 99.1 | 99.2 | 98.6 | 99.8 | 99.7 | 100.1 | -1.4 | .1 | -.6 | 1.2 | -.1 | .4 | -.2 | | Materials | 106.1 | 106.1 | 106.3 | 106.4 | 107.4 | 106.8 | -.4 | .1 | .1 | .1 | 1.0 | -.6 | 1.3 | | | | | | | | | | | | | | | | | Major industry groups | | | | | | | | | | | | | | | Manufacturing (see note below) | 96.6 | 96.5 | 96.5 | 97.1 | 97.4 | 97.3 | -.8 | .0 | -.1 | .6 | .4 | -.1 | .5 | | Previous estimates | 96.6 | 96.9 | 96.6 | 97.4 | 97.6 | | -.8 | .3 | -.3 | .8 | .2 | | | | Mining | 120.2 | 121.0 | 119.3 | 119.0 | 121.5 | 120.1 | -.8 | .7 | -1.4 | -.2 | 2.1 | -1.2 | -.2 | | Utilities | 109.9 | 108.4 | 114.8 | 110.9 | 112.9 | 110.3 | 2.0 | -1.4 | 6.0 | -3.5 | 1.8 | -2.3 | 3.1 | ##### | Capacity utilization | Percent of capacity | | | | | | | | | | | | Capacity growth | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | Average 1972- 2025 | 1988- 89 high | 1990- 91 low | 1994- 95 high | 2009 low | 2025 Mar. | | | | | | | | | 2025 | | | 2026 | | | Mar. '25 to Mar. '26 | | Oct.[r] | Nov.[r] | Dec.[r] | Jan.[r] | Feb.[r] | Mar.[p] | | | | | | | | | | | | | | | | | Total industry | 79.4 | 85.2 | 78.8 | 85.0 | 66.5 | 76.1 | 75.6 | 75.4 | 75.7 | 75.7 | 76.1 | 75.7 | 1.4 | | Previous estimates | | | | | | | 75.6 | 75.6 | 75.8 | 76.3 | 76.3 | | | | | | | | | | | | | | | | | | | Manufacturing (see note below) | 78.2 | 85.5 | 77.2 | 84.6 | 63.4 | 75.8 | 75.1 | 75.0 | 74.9 | 75.3 | 75.5 | 75.3 | 1.1 | | Previous estimates | | | | | | | 75.1 | 75.3 | 75.0 | 75.6 | 75.6 | | | | Mining | 85.2 | 86.3 | 84.4 | 88.6 | 78.3 | 84.2 | 84.4 | 85.0 | 83.8 | 83.7 | 85.5 | 84.5 | -.5 | | Utilities | 84.0 | 93.2 | 84.7 | 93.2 | 78.1 | 71.0 | 71.1 | 69.8 | 73.8 | 71.1 | 72.1 | 70.3 | 4.0 | | | | | | | | | | | | | | | | | Stage-of-process groups | | | | | | | | | | | | | | | Crude | 84.5 | 87.9 | 84.9 | 90.0 | 76.5 | 82.4 | 82.6 | 82.9 | 82.1 | 82.4 | 83.9 | 83.4 | -.4 | | Primary and semifinished | 80.1 | 86.4 | 77.9 | 87.7 | 63.5 | 76.0 | 75.4 | 75.3 | 76.0 | 75.6 | 76.1 | 75.5 | 1.8 | | Finished | 76.6 | 83.3 | 77.4 | 80.7 | 66.3 | 73.9 | 73.2 | 72.8 | 73.0 | 73.2 | 73.3 | 72.9 | 1.5 | **[r] Revised. [p] Preliminary.** ##### Market Groups Production slowed in most market groups in March; declines in the indexes for consumer goods, for business equipment and supplies, and for materials were partially offset by growth in the output of construction supplies and of defense and space equipment. Declines were widespread among consumer goods industries. The index for consumer durable goods declined 1.8 percent, led by a decrease of 2.8 percent in the production of automotive products. A 0.8 percent decline in the index for consumer nondurables was led by a 2.1 percent decline in consumer energy production. The index for business equipment stepped down 0.3 percent, with reduced production of transit equipment more than offsetting increased production of information processing equipment and of industrial and other equipment. The output of materials fell 0.6 percent, led by declines in the output of consumer parts and of energy materials. ##### Industry Groups Manufacturing output ticked down 0.1 percent. In March, a decrease of 0.2 percent in the production of durable goods reflected weaker output of motor vehicles and parts, which fell 3.7 percent, as well as declines in the output of primary metals, machinery, and furniture and related products. Nondurable manufacturing output edged down 0.1 percent, with more industry groups posting losses than posting gains. In particular, only the indexes for petroleum and coal products, for plastics and rubber products, and for paper increased, while all other nondurable indexes decreased. Mining output decreased 1.2 percent in March. The index for utilities contracted 2.3 percent, with reductions in the output of both electric and natural gas utilities. Capacity utilization for manufacturing declined 0.2 percentage point to 75.3 percent in March and is now 2.9 percentage points below its long-run (1972–2025) average. The operating rate for mining fell 1.0 percentage point to 84.5 percent, and the operating rate for utilities declined 1.8 percentage points to 70.3 percent. The utilization rates for mining and utilities were 0.7 percentage point and 13.7 percentage points below their long-run averages, respectively. **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 (except exclusive Internet publishing). 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 of its industrial output data from the SIC system to NAICS. ### G.17 Release Tables: - [Summary: Industrial Production and Capacity Utilization](table0.htm) - [Chart 1: Industrial Production, Capacity, and Capacity Utilization](ipg1.svg) - [Chart 2: Industrial Production and Capacity Utilization](ipg2.svg) - [Chart 3: Industrial Production of Selected Industries](ipg3.svg) - [Table 1: Industrial Production: Market and Industry Groups (percent change)](table1.htm) - [Table 2: Industrial Production: Special Aggregates and Selected Detail (percent change)](table2.htm) - [Table 3: Motor Vehicle Assemblies](table3.htm) - [Table 4: Industrial Production Indexes: Market and Industry Group Summary](table4.htm) - [Table 5: Industrial Production Indexes: Special Aggregates](table5.htm) - [Table 6: Diffusion Indexes of Industrial Production](table6.htm) - [Table 7: Capacity Utilization: Manufacturing, Mining, and Utilities](table7.htm) - [Table 8: Industrial Capacity: Manufacturing, Mining, and Utilities (percent change)](table8.htm) - [Table 9: Industrial Production: Gross Value of Products and Nonindustrial Supplies](table9.htm) - [Table 10: Gross-Value-Weighted Industrial Production: Stage-of-Process Groups](table10.htm) - [Table 11: Historical Statistics for IP, Capacity, and Utilization: Total Industry](table11.htm) - [Table 12: Historical Statistics for IP, Capacity, and Utilization: Manufacturing](table12.htm) - [Table 13: Historical Statistics for IP, Capacity, and Utilization: Total Industry excluding Selected High-Technology Industries](table13.htm) - [Table 14: Historical Statistics for IP, Capacity, and Utilization: Manufacturing excluding Selected High-Technology Industries](table14.htm) - [Table 15: Industrial Production: Reliability Estimates](table15.htm)  [Back to Top](# "Scroll To Top") Last Update: April 16, 2026