US Industrial Production

Data Industry

Source: Federal Reserve
Source Link: https://www.federalreserve.gov/
Frequency: Monthly
Next Release(s): September 16th, 2025 9:15 AM

Latest Updates

US industrial production declined -0.1% MoM in July, the first monthly drop since March. The latest report also revised down May and June numbers such that the former saw no growth (revised down from 0.1% MoM) and the latter saw a smaller 0.3% MoM increase (revised down from 0.4% MoM). Manufacturing production was flat in July, slightly avoiding the decline of -0.1% MoM that was expected. Despite there only being a slight increase on a monthly basis, the annual increase in manufacturing production reached 1.4%, the strongest since October 2022.

The strong annual gain is supported by several key industries seeing their own strong YoY growth: computer & electronics (+5.6% YoY), motor vehicles & parts (+8.3% YoY), and aerospace & other transport equipment (+8.9% YoY). These segments have helped to drive durable goods manufacturing up 2.7% YoY. However, they are weighed down by nondurable manufacturing, which declined -0.4% MoM and is only up 0.6% YoY in July. In fact, last month, there was not a single segment that saw an increase in nondurable manufacturing production. This includes petroleum & coal products, which fell -0.5% MoM and is only up 0.7% MoM.
US industrial production rose 0.3% MoM and 0.7% YoY in June, rebounding from flat readings in April and May. For Q2 overall, production grew at a 1.1% annualized rate.
- Manufacturing output was up just 0.1% MoM, while mining declined -0.3% and utilities surged 2.8%.
- Durable goods output was flat in June, with autos down -2.6% MoM and electrical equipment down -2.5%, offset by gains in primary metals (+3.1%) and aerospace (+1.6%).
- Nondurable production rose 0.3% MoM, led by a 2.9% increase in petroleum and coal products.
- Consumer goods output rose 0.2% MoM, but autos pulled durable production down -1.4%, while energy nondurables jumped 2.7%.
- Capacity utilization increased to 77.6% overall; manufacturing rose to 76.9%, utilities to 70.1%, and mining fell to 90.6%.
- Total industrial production was 0.7% above June 2024 levels, with Q2 mining output up 5.7% annualized despite the June dip.
US industrial production continued to wither into Q2 2025 as the May print came in a -0.2% MoM, below expectations of a slight 0.1% MoM increase. Manufacturing production did see a slight gain of 0.1% MoM, but the annual increase slowed to just 0.5% YoY, matching the slowest growth so far in 2025. The decline came from production in consumer goods (-0.2% MoM), nonindustrial supplies (-0.7% MoM), and materials (-0.2% MoM), while business equipment production expanded 0.8% MoM to offset the weaker categories. The continued deceleration in oil & gas production was a significant factory in industrial softness, causing the index for energy nondurable consumer goods to drop -3.2% MoM. On the other hand, auto & auto parts production was a bright spot, rising 4.9% MoM.

Along with soft production, capacity utilization continued its slide in May, dropping 0.3 ppts to 77.4%, the lowest since November 2024. Manufacturing utilization did hold steady on a monthly basis, but at 76.7%, it remained 1.5 ppts below the long-term average. Once again, we can highlight the weakness in oil & gas utilization as having a major impact since that segment fell -1.4 ppts to 88.5% (which is down -4.5 ppts since December 2024). Like the production figures, auto capacity utilization offset that weakness, jumping 3.2 ppts to 71.6%, the highest since June 2024. This rise is likely a result of Trump’s tariffs on foreign vehicles which are pushing auto manufacturers to ramp up production within the US.
US industrial production was unchanged in April and on an annual basis was up 1.5% YoY.
- Manufacturing production fell -0.4% MoM, below expectations of a -0.2% MoM drop, and was offset by an increase in utilities production of 3.3% MoM.
- Within final product output, consumer goods production fell -0.2% MoM, and business equipment production edged up 0.2% MoM.
- Durable goods production fell -0.2% MoM, with motor vehicle & parts production down -1.9% MoM, and non-durable goods production fell -0.6% MoM.
- Capacity utilization fell -0.1 ppts to 77.1% with manufacturing utilization falling -0.4 ppts to 77.3%.
US industrial production fell -0.3% MoM in March but on an annual basis was up 1.3% YoY.
- February industrial production growth was revised up by 0.1 ppt to 0.8% MoM.
- Manufacturing production was up 0.3% MoM but was offset by utilities production dropping -5.8% MoM.
- Within final product output, consumer goods production fell -1.0% MoM, and business equipment production jumped 1.7% MoM.
- Capacity utilization fell -0.4 ppts to 77.8% with manufacturing utilization edging up 0.2 ppts to 77.3%.
- In Q1, factory output expanded at an 5.1% annual rate.
US industrial production increased 0.7% MoM and 1.4% YoY in February, up from the downwardly revised January increase of 0.3% MoM (vs 0.5% MoM first estimate).
- Manufacturing production jumped 0.9% MoM (vs 0.3% MoM expected) and was up 0.7% YoY, slower than the 1.2% YoY increase in January.
- Business equipment production increased 1.6% MoM while consumer goods production was only up 0.2% MoM.
- Capacity utilization increased 0.5 ppts to 78.2%, above the expectations of a rate of 77.8%.
- The mining capacity utilization rate increased 2.4 ppts to 90.3% which is 3.8 ppts above the long-run average.
Industrial production increased 0.5% MoM (vs 0.3% MoM expected) in January after a strong 1.0% MoM increase in December.
- Manufacturing production fell -0.1% MoM (vs 0.1% MoM expected) and mining production fell -1.2% MoM. Both were offset by utilities up 7.2% MoM as a result of cold weather.
- A decline in motor vehicles & parts production of -5.2% MoM was the main segment dragging overall manufacturing down in January.
- On an annual basis, total industrial production was up 2.0% YoY and manufacturing production up 1.0% YoY.
- Manufacturing capacity utilization saw a slight decline of -0.1 ppts to 76.3% but was up 1.3 ppts from a year ago.
US industrial production jumped 0.9% MoM and 0.5% YoY in December, above expectations of an 0.3% MoM increase. The annual increase of 0.5% YoY is the strongest since June and the first positive reading since August. Manufacturing production also beat expectations, up 0.6% MoM vs 0.2% MoM expected.

Consumer goods production advanced 0.5% MoM, and business equipment production increased 1.4% MoM (though was still down -4.3% YoY). Intermediate goods production was stronger as nonindustrial supplies production grew 0.9% MoM and materials production was up 1.2% MoM. Total capacity utilization improved to 77.6% after weak October and November readings.
US industrial production fell -0.1% MoM and -0.9% YoY in November, the third straight decline in production and below expectations of an 0.3% MoM increase. Manufacturing production, however, was up 0.2% MoM though that was below the 0.5% MoM expected increase. Mining (-0.9% MoM) and utilities (-1.3% MoM) were both weak and dragged the headline reading of production lower. The increase in manufacturing production was spurred on by growth in durable subsectors including motor vehicles & parts (+3.5% MoM) and machinery (+2.1% MoM).

Capacity utilization ticked down -0.2 ppts to 76.8% as a result of a sizeable decline in both mining and utilities capacity. Manufacturing capacity was slightly higher to 76.0% and up 1.3 ppts over a year ago.