g17.pdf

Here are the key points summarized in English:

Industrial Production and Capacity Utilization

• The Federal Reserve releases monthly data on industrial production (IP) and capacity utilization (CU) as part of its G.17 report.
• IP measures the output of all industries, while CU measures the percentage of actual production compared to maximum potential production.

Key Points:

1. Historical Context: Over the 1972-2023 period, the average total industry utilization rate was 79.7%, and for manufacturing, it was 78.3%.
2. Capacity Utilization Rates: Industrial plants usually operate at rates below 100%. Total manufacturing utilization rates have exceeded 90% only in wartime.
3. Revision Schedule: The G.17 release is issued monthly (at 9:15 a.m.) and annually (at noon) on the following dates:
   • 2024: January 17, February 15, March 15, April 16, May 16, June 18, July 17, August 15, September 17, October 17, November 15, December 17
   • 2025: January 17, February 14, March 18, April 16, May 15, June 17, July 16, August 15, September 16, October 17, November 18, and December 16

References and Additional Information:

1. Annual Revision: The annual revision is published on the Federal Reserve's website (www.federalreserve.gov/releases/g17/revisions/current/DefaultRev.htm).
2. Methodology and History: Detailed descriptions of the aggregation methods for IP and CU are available in the Federal Reserve Bulletin (vol. 83, February 1997) and "Capital Stock Estimates for Manufacturing Industries: Methods and Data" by Mike Mohr and Charles Gilbert (1996).
3. Release Schedule: The release schedule is available on the Federal Reserve's website at http://www.federalreserve.gov/releases/g17.