Industrial Production and Capacity Utilization for December 2000.Released for publication January January: see month. 17 Industrial production fell 0.6 percent in December December: see month. after two months of smaller losses. After having slowed in the third quarter, industrial output contracted at an annual rate of 1.1 percent in the fourth quarter, the first negative quarterly reading since 1991. Manufacturing output declined 1.1 percent in December, with cutbacks in many industries. Output at utilities surged 6.5 percent in response to extremely cold weather, and production in mining edged up 0.3 percent. At 147.3 percent of its 1992 average, industrial production was 3.1 percent higher than in December 1999. The rate of capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. for total industry fell to 80.6 percent in December, a level 1 1/2 percentage points below its 1967-99 average. [Graphs This partial list of graphs contains definitions of graphs and graph families which are known by particular names, but do not have a Wikipedia article of their own. For collected definitions of graph theory terms that do not refer to individual graph types, such as omitted]
Industrial production and capacity utilization, December 2000
Industrial production, index, 1992 = 100
Percent
change
Category 2000
2000(1)
Sept.(r) Oct.(r) Nov.(r) Dec.(p) Sept.(r)
Total 149.0 148.5 148.1 147.3 .2
Previous
estimate 149.1 148.9 148.6 ... .3
Major market
groups
Products,
total(2) 136.7 136.3 136.4 136.1 .0
Consumer
goods 123.8 122.7 122.8 122.9 .0
Business
equipment 199.5 200.2 200.3 199.4 .9
Construction
supplies 143.1 142.2 140.7 137.7 .3
Materials 171.3 170.8 169.3 167.6 .5
Major industry
groups
Manufacturing 155.1 154.8 153.9 152.2 .3
Durable 198.4 197.2 196.0 193.5 .8
Nondurable 116.0 116.4 115.8 114.7 -.3
Mining 100.4 100.4 100.3 100.6 -.6
Utilities 121.7 119.4 123.9 132.0 -.3
Capacity utilization, percent
1999 2000
Average, Low, High,
1967-99 1982 1988-89 Dec. Sept.(r)
Total 82.1 71.1 85.4 81.7 82.4
Previous
estimate ... ... ... ... 82.5
Manufacturing 81.1 69.0 85.7 81.0 81.7
Advanced
processing 80.5 70.4 84.2 79.8 81.6
Primary
processing 82.5 66.2 88.9 85.0 83.0
Mining 87.4 80.3 88.0 84.5 86.4
Utilities 87.5 75.9 92.6 90.0 91.0
Industrial production, index, 1992 = 100
Percent change
Category
2000(1) Dec. 1999
to
Oct.(r) Nov.(r) Dec.(p) Dec. 2000
Total -.3 -.3 -.6 3.1
Previous
estimate -.1 -.2 ... ...
Major market
groups
Products,
total(2) -.3 .1 -.2 2.6
Consumer
goods -.8 .1 .0 .4
Business
equipment .3 .1 -.4 10.5
Construction
supplies -.7 -1.1 -2.1 -3.1
Materials -.3 -.9 -1.0 4.1
Major industry
groups
Manufacturing -.2 -.6 -1.1 2.6
Durable -.6 -.6 -1.2 6.0
Nondurable .3 -.5 -.9 -1.6
Mining .0 -.1 .3 1.9
Utilities -1.9 3.8 6.5 12.4
Capacity utilization, MEMO
percent Capacity,
percent
2000 change,
Dec. 1999
to
Oct.(r) Nov.(r) Dec.(p) Dec. 2000
Total 81.9 81.4 80.6 4.6
Previous
estimate 82.1 81.6 ... ...
Manufacturing 81.2 80.4 79.1 5.0
Advanced
processing 81.0 80.4 79.6 6.7
Primary
processing 82.6 81.5 79.2 1.6
Mining 86.5 86.5 86.9 -.9
Utilities 89.0 92.1 97.9 3.3
NOTE. Data seasonally adjusted or calculated from seasonally
adjusted monthly data.
(1.) Change from preceding month.
(2.) Contains components in addition to those shown.
(r) Revised.
(p) Preliminary.
MARKET GROUPS The index for consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and was unchanged in December, with decreases in many categories offset by a surge See power surge. SURGE - Sorter, Updater, Report Generator, Etc. IBM 704, 1959. Sammet 1969, p.8. in the output of consumer energy products. The production of durable consumer goods fell 1.5 percent and was pulled down for a third month by a drop in the production of automotive products. The output of other durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. also fell for a third month and was down at an annual rate of 4.0 percent in the fourth quarter. The production of nondurable non·du·ra·ble adj. Not enduring; being in a state of constant consumption: nondurable items such as paper products. n. A consumable item: nondurables such as food. consumer goods other than energy products ticked down 0.1 percent in December. The output of business equipment fell 0.4 percent in December but increased at an annual rate of 5.2 percent in the fourth quarter. The production of both industrial and transit equipment fell about 1 1/2 percent in December. The output of transit equipment, particularly motor vehicles, dropped again and posted a substantial loss for the quarter. The output of computer and office equipment grew 0.6 percent in December, but growth during the quarter was noticeably no·tice·a·ble adj. 1. Evident; observable: noticeable changes in temperature; a noticeable lack of friendliness. 2. Worthy of notice; significant. slower than earlier in the year. Production of other business equipment increased 1.4 percent in December, lifted by a rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective in farm machinery. The production of construction supplies fell sharply in December and was down at an annual rate of 8.2 percent in the fourth quarter. The output of materials contracted 1.0 percent in December following a similar decline in November November: see month. . The indexes for durable and nondurable materials were down sharply and were offset only partly by an increase in the output of energy materials. Among durable materials industries, the consumer parts group was hit by another decline in the production of original equipment parts for motor vehicles. The output of semiconductors, printed circuit boards, and other electronic components increased 2.5 percent in December. Nonetheless, the fourth-quarter increase in this category was at an annual rate of 24.0 percent, a pace significantly below the average over the past two years. The 1.6 percent drop in the index for nondurable materials mainly reflected declines in the output of paper and chemicals. INDUSTRY GROUPS Manufacturing output dropped 1.1 percent in December, with a 1.2 percent decrease in the production of durable goods and a 0.9 percent decrease in nondurable goods. Among durable goods, the losses were widespread, with the largest declines in primary metals, fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: metal products, and transportation equipment. The output of nondurables has declined, on balance, over the last six months, and losses in December were widespread. The petroleum products and paper and products industries suffered the largest drops. The factory operating rate Operating rate The percentage of total production capacity of a company, industry, or country that is being used. operating rate The portion of capacity at which a business operates. declined to 79.1 percent in December, 2 1/2 percentage points below its September September: see month. level and the lowest level since 1993. In recent months, capacity utilization has fallen significantly in the transportation equipment and primary metals industries. The operating rate at electric utilities surged to 97.8 percent in December, a level 8.2 percentage points above its 1967-99 average. The operating rate for mining was 86.9 percent, a reading at the high end of its range for the year. REVISION (programming) revision - A release of a piece of software which is not a major release or a bugfix, but only introduces small changes or new features. OF INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION On December 5, the Federal Reserve Board published revisions ReVisions is a 2004 anthology of alternate history short-stories. It is edited by Julie E. Czerneda and Isaac Szpindel. Contents Title Author The Resonance of Light James Alan Gardner Out of China Julie E. to the index of industrial production (IP), to the related measures of capacity and capacity utilization, and to the index of industrial use of electric power. The updated measures reflect both the incorporation of newly available, more comprehensive source data typical of annual revisions and, for some series, the introduction of improved compilation Compiling a program. See compiler. methods. The revision also included a refinement of the method used to aggregate the individual series in the production and capacity indexes. The new source data are for recent years, primarily 1997 through 1999, and the modified mod·i·fy v. mod·i·fied, mod·i·fy·ing, mod·i·fies v.tr. 1. To change in form or character; alter. 2. methods affect data from 1992 onward on·ward adj. Moving or tending forward. adv. also on·wards In a direction or toward a position that is ahead in space or time; forward. . The updating of source data for IP included annual data from the following reports of the Bureau of the Census Noun 1. Bureau of the Census - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Census Bureau : the 1997 Census census, periodic official count of the number of persons and their condition and of the resources of a country. In ancient times, among the Jews and Romans, such enumeration was mainly for taxation and conscription purposes. of Manufactures, the 1998 Annual Survey of Manufactures, and selected editions of its 1998 and 1999 Current Industrial Reports. Annual data from the U.S. Geological Survey The term geological survey can be used to describe both the conduct of a survey for geological purposes and an institution holding geological information. A geological survey regarding metallic and nonmetallic non·me·tal·lic adj. 1. Not metallic. 2. Chemistry Of, relating to, or being a nonmetal. Adj. 1. minerals (except fuels) for 1998 and 1999 also were introduced. The updating included revisions to the monthly indicator Indicator Anything used to predict future financial or economic trends. Notes: In the context of technical analysis, an indicator is a mathematical calculation based on a securities price and/or volume. The result is used to predict future prices. for each industry (either physical product data, production-worker hours, or electric power usage) and revised seasonal factors. The revision to capacity and capacity utilization incorporated preliminary data from the 1999 Survey of Plant Capacity of the Bureau of the Census, which covers manufacturing, along with other new data on capacity from the U.S. Geological Survey, the Department of Energy, and other organizations. The statistics on the industrial use of electric power incorporated additional information received from utilities for the past few years as well as data from the 1997 Census of Manufactures and 1998 Annual Survey of Manufactures. Aggregate IP indexes are built as annually weighted chain-type indexes, beginning with data for 1977. Previously, the weights changed at the middle of every year; with the revision, the weights change every month beginning with data for 1992. The revision is available on the Board's web site (www.federalreserve.gov/releases/g17). The revised data are also available through the web site of the Department of Commerce. Further information on these revisions is available from the Board's Industrial Output Section (telephone 202-452-3197). The G.17 statistical release will be redesigned beginning with the issue covering data for January 2001. Special aggregates will be added; although some detailed industry data will no longer be listed in the regular release, these series will continue to be available on the Federal Reserve Board's public web site, along with a template (1) A pre-designed document or data file formatted for common purposes such as a fax, invoice or business letter. If the document contains an automated process, such as a word processing macro or spreadsheet formula, then the programming is already written and embedded in the of the redesigned tables. |
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