[Economic Indicators January, 1999]
[Page Number 17]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
                    PRODUCTION AND BUSINESS ACTIVITY

INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

Industrial production rose in December; capacity utilization fell.
   _____________________________________________________________________


  ______________________________________________________________________

                                                           [Monthly data seasonally adjusted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                    Total industrial production         Industry production indexes, 1992=100              Capacity
                                                  ----------------------------------------------------------------------------------- utilization  rate,
                                                             Percent change \1\           Manufacturing                                   percent \2\
                                                            ----------------------------------------------------                     -------------------
                      Period                        Index,     From
                                                   1992=100   preced-    From                                     Mining   Utilities    Total   Manufac-
                                                                ing      year      Total    Durable  Nondurable                       industry    turing
                                                               month    earlier
--------------------------------------------------------------------------------------------------------------------------------------------------------
1989.............................................      99.1  ........       1.8      99.0     100.5       97.3      103.2      97.1       84.1      83.6
1990.............................................      98.9  ........       -.2      98.5      99.0       97.9      104.8      98.3       82.3      81.4
1991.............................................      97.0  ........      -2.0      96.2      95.5       97.0      102.6     100.4       79.3      77.9
1992.............................................     100.0  ........       3.1     100.0     100.0      100.0      100.0     100.0       80.3      79.5
1993.............................................     103.5  ........       3.5     103.7     105.4      101.8       99.9     103.9       81.3      80.5
1994.............................................     109.1  ........       5.4     109.9     114.2      105.2      102.4     105.3       83.2      82.5
1995.............................................     114.4  ........       4.9     115.9     124.0      107.1      102.0     109.0       83.4      82.7
1996.............................................     119.5  ........       4.5     121.4     134.1      107.9      103.7     112.6       82.4      81.4
1997.............................................     126.8  ........       6.0     129.7     147.1      111.3      105.8     112.8       82.9      82.0
1998 p...........................................     131.4  ........       3.7     135.1     157.5      112.0      104.1     114.6       81.9      80.9
 
1997:Dec.........................................     130.3       0.3       6.5     133.7     154.0      112.7      106.4     113.1       83.4      82.5
 
1998:Jan.........................................     130.3       -.0       5.9     133.8     153.9      113.1      107.6     109.8       83.0      82.2
      Feb........................................     130.2       -.1       5.0     133.7     154.0      112.8      107.5     109.0       82.6      81.8
      Mar........................................     130.7        .4       5.1     134.1     155.2      112.4      105.8     114.0       82.6      81.6
      Apr........................................     131.3        .5       5.0     134.9     156.2      113.0      105.7     112.8       82.6      81.7
      May........................................     131.9        .4       5.1     135.4     157.2      113.0      105.4     115.2       82.6      81.6
      June.......................................     130.6       -.9       3.6     133.7     154.8      112.0      104.7     118.7       81.5      80.2
      July.......................................     130.5       -.1       2.7     133.6     154.4      112.1      104.6     118.3       81.1      79.8
      Aug........................................     132.4       1.4       3.6     135.7     159.8      111.3      103.7     120.2       82.0      80.7
      Sept r.....................................     131.9       -.4       2.6     135.2     159.6      110.6      102.4     120.3       81.3      80.1
      Oct r......................................     132.6        .5       2.5     136.3     161.1      111.2      101.8     117.4       81.4      80.4
      Nov r......................................     132.5       -.1       2.0     136.5     160.9      111.8      101.4     113.9       81.0      80.1
      Dec p......................................     132.8        .2       1.9     136.7     161.5      111.8      100.8     115.7       80.9      79.9
--------------------------------------------------------------------------------------------------------------------------------------------------------

    \1\ Percent changes based on 
unrounded indexes.
    \2\ Output as percent of 
capacity.

    Source: Board of Governors of 
the Federal Reserve System.