FEDERAL RESERVE STATISTICAL RELEASEG.17 (419) For releaseat 9:15 a.m. (EDT)July 14, 2000INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATIONIndustrial production rose 0.2 percent in June, after gains of 0.5 percentin May and 0.8percent in April. At 144.6 percent of its 1992 average, industrial production inJune was 5.8percent higher than in June 1999. For the second quarter as a whole, the totalindex increased atan annual rate of 7.0 percent, up from a first-quarter pace of 6.5 percent. Theoutput of minesand utilities picked up in the second quarter, while the growth of manufacturingoutput remainedclose to an annual rate of 7.0 percent for a third consecutive quarter. Thestrength inmanufacturing this year has principally come from the high-technology industries(computers,semiconductors, and communications equipment); excluding those industries,manufacturing hasincreased at an annual rate of only 1.0 percent since the fourth quarter of lastyear. The rate ofcapacity utilization for total industry edged down in June to 82.1 percent, alevel about even withthe 1967-99 average. Market Groups-------------The output of consumer goods edged down 0.1 percent in June; an increase of0.5 percentin the production of durable consumer goods was more than offset by a decline inthe productionof nondurables. The gain in the production of durable consumer goods was theresult of a 1.7percent rebound in the output of automotive products. In contrast, the output ofother consumerdurable goods decreased 0.5 percent, as the production of goods for the home,such asappliances, furniture, and carpeting, fell again. The decline in nondurableconsumer goods wasconcentrated in energy products; the demand for electricity by households, whichhad shot up inApril and May, fell back. The production of nondurable non-energy consumer goodsedged up0.1 percent, with solid gains in the production of consumer chemicals and paperproducts nearlyoffset by a decline in the output of clothing.The production of business equipment, which had increased more than 1-1/4percent permonth from January to April, increased only 0.4 percent in June after a 0.6percent advance inMay. The production of high-technology equipment continued to rise strongly in
June: Theproduction of information processing and related equipment increased 1.3 percenton thestrength of advances in the output of communications equipment and computers.Theproduction index for the other equipment category also turned up sharply becauseof a jump inthe output of farm machinery and equipment. However, the output of transitequipment fellagain in June because of a continued decline in the production of commercialaircraft and areduction in the production of medium and heavy trucks. In addition, theproduction ofindustrial equipment fell back 0.4 percent, largely reversing the gains in Apriland May; most ofthe decrease reflected a decline in the output of construction machinery.The production index for construction supplies fell 1.0 percent in Juneafter havingdecreased 0.9 percent in May; for both months, declines in underlying industrieswerewidespread. Since peaking in April, the index for construction supplies hasretraced more thanhalf of the increase posted earlier in the year. The output of materials was up0.7 percent inJune, a gain somewhat smaller than the average for the preceding three months.The output ofdurable goods materials rose 1.2 percent, with another strong increase in theproduction of partsfor equipment and for consumer goods; however, the output of basic metals fellagain in June.The production of nondurable goods materials dropped 0.5 percent, and the outputof energymaterials was unchanged. Industry Groups---------------Manufacturing output rose 0.3 percent in June, after having advanced anaverage of 0.6percent per month since the end of last year. The production of durable goodsrose further, andthe production of nondurable goods declined again. Among durable goods,continued increasesin the production of high-technology goods accounted for most of the overallgain; however,output in some industries, such as primary metals and construction-relatedindustries, hasweakened recently. The output of nondurables slipped another 0.2 percent, a moveled bydecreases in petroleum refining and in the production of apparel and paper.The factory operating rate, at 81.3 percent, was unchanged. The utilizationrate forprimary-processing industries decreased, to 82.8 percent, and that for advanced-processingindustries edged up, to 80.9 percent.The output of utilities fell back 2.5 percent following sharp gains in thepreceding twomonths; the operating rate at utilities fell to 88.9 percent. Production at
mines increased 1.1percent after having fallen 0.2 percent in May; the utilization rate at minesrose to 85.9 percent.INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION: SUMMARYSeasonally adjusted| Index, 1992=100 |Percent change| 2000 | 2000| June 99 toIndustrial Production | Mar. Apr. May June | Mar.Apr. May June | June 00------------------------------------------------------------------------------------------------------------------------| ||Total index | 142.4 143.5 144.3 144.6 | .6.8 .5 .2 | 5.8Previous estimates | 142.6 143.6 144.2 | .7.7 .4 || ||Major market groups: | ||Products, total | 130.3 131.1 131.3 131.2 | .2.6 .2 -.1 | 3.5Consumer goods | 118.0 118.6 118.6 118.4 | -.6.5 .0 -.1 | 1.3Business equipment | 183.0 185.1 186.2 187.0 | 1.41.1 .6 .4 | 9.2Construction supplies | 139.0 139.5 138.3 137.0 | 1.0.4 -.9 -1.0 | 3.3Materials | 163.1 164.9 166.6 167.8 | 1.21.1 1.0 .7 | 9.6| ||Major industry groups: | ||Manufacturing | 148.4 149.3 150.0 150.5 | .8.6 .4 .3 | 6.4Durable | 184.6 186.7 188.4 189.7 | 1.51.1 .9 .7 | 10.2Nondurable | 113.6 113.6 113.4 113.2 | -.2.0 -.2 -.2 | 1.6Mining | 101.3 101.5 101.3 102.4 | 1.3.2 -.2 1.1 | 5.5Utilities | 110.8 114.8 117.7 114.7 | -3.93.6 2.5 -2.5 | -2.3------------------------------------------------------------------------------------------------------------------------|| Capacity| Percent of Capacity| Growth| Average 1982 1988-89 1999 | 2000| June 99 toCapacity Utilization | 1967-99 Low High June | Mar.Apr. May June | June 00---------------------------------------------------------------------------------
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US Federal Reserve: g17
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