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Industrial Production: Difference between revisions
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The production index measures real output and is expressed as a percentage of real output in a base year, currently 2017. The capacity index, which is an estimate of sustainable potential output, is also expressed as a percentage of actual output in 2017. The production indexes are computed as Fisher indexes since 1972; the weights are based on annual estimates of value added. The rate of capacity utilization equals the seasonally adjusted output index expressed as a percentage of the related capacity index. | The production index measures real output and is expressed as a percentage of real output in a base year, currently 2017. The capacity index, which is an estimate of sustainable potential output, is also expressed as a percentage of actual output in 2017. The production indexes are computed as Fisher indexes since 1972; the weights are based on annual estimates of value added. The rate of capacity utilization equals the seasonally adjusted output index expressed as a percentage of the related capacity index. | ||
The main industries that contribute to industrial production are: | |||
'''Manufacturing''' | |||
Manufacturing is the largest component of industrial production, encompassing the production of durable and nondurable goods. This includes industries like: | |||
* Automotive | |||
* Aerospace | |||
* Electronics | |||
* Machinery | |||
* Chemicals | |||
* Food processing | |||
'''Mining''' | |||
The mining industry extracts raw materials like coal, oil, gas, and minerals that are essential inputs for industrial production. Key mining sectors include: | |||
* Oil and gas extraction | |||
* Coal mining | |||
* Metal ore mining | |||
'''Utilities''' | |||
The utilities industry, which includes electricity, gas, and water supply, is also part of industrial production. Utilities provide the energy and water needed to power industrial processes. | |||
The Industrial Production and Capacity Utilization statistical release is published around the middle of the month. More detailed descriptions of industrial production and capacity utilization are available. <ref>https://www.federalreserve.gov/releases/G17/About.htm</ref><ref>https://www.federalreserve.gov/releases/g17/ipnotes.htm#:~:text=On%20a%20monthly%20basis%2C%20the,from%20which%20output%20is%20inferred.</ref> | The Industrial Production and Capacity Utilization statistical release is published around the middle of the month. More detailed descriptions of industrial production and capacity utilization are available. <ref>https://www.federalreserve.gov/releases/G17/About.htm</ref><ref>https://www.federalreserve.gov/releases/g17/ipnotes.htm#:~:text=On%20a%20monthly%20basis%2C%20the,from%20which%20output%20is%20inferred.</ref> | ||