Industrial Production and Capacity Utilization: Annual Revision and 1997 Developments

Richard D. Raddock

Federal Reserve Bulletin, 1998, vol. 84, issue 2, pp. 77-91

Abstract: In December 1997, the Board of Governors published the results of an annual revision of its measures of industrial production and capacity utilization, which cover the nation's manufacturing, mining, and electric and gas utilities industries. The revision entailed primarily the incorporation of new and more comprehensive source data, the most important of which were annual figures on industry real output in 1995 and survey information on industry utilization rates for the fourth quarters of 1995 and 1996. The revised measures show stronger growth of production and capacity and lower rates of capacity utilization since 1992 than did earlier estimates. The revised production indexes and the new source data on utilization rates implied that manufacturing capacity growth was stronger than previously estimated.

JEL-codes: E66 L60 L70 L90 (search for similar items in EconPapers)
Date: 1998
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DOI: 10.17016/bulletin.1998.84-2

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