by Calculated Risk on 9/15/2021 09:21:00 AM
From the Fed: Industrial Production and Capacity Utilization
At 101.6 percent of its 2017 average, total industrial production in August was 5.9 percent above its year-earlier level and 0.3 percent above its pre-pandemic (February 2020) level. Capacity utilization for the industrial sector rose 0.2 percentage point in August to 76.4 percent, a rate that is 3.2 percentage points below its long-run (1972-2020) average.
This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and slightly above the level in February 2020.
Capacity utilization at 76.4% is 3.2% below the average from 1972 to 2020.
Note: y-axis doesn’t start at zero to better show the change.
Industrial production increased in August to 101.6. This is 0.3% above the February 2020 level.
The change in industrial production was slightly below consensus expectations.