Industrial Production and Capacity Utilization: The 2008 Annual Revision.

The article reports on the move of the U.S. Federal Reserve to publish revisions to its index of industrial production (IP) and the related measures of capacity utilization. The revision shows that IP have increased more slowly in 2006, but changes to output gains in other years since 2003 were more modest. It also illustrates that the rates of capacity utilization for total industry in the fourth quarters of 2006 and 2007 were lower than previously estimated.