by Calculated Risk on 12/16/2021 09:22:00 AM
From the Fed: Industrial Production and Capacity Utilization
At 102.3 percent of its 2017 average, total industrial production in November was 5.3 percent above its year-earlier level and at its highest reading since September 2019. Capacity utilization for the industrial sector increased 0.3 percentage point to 76.8 percent; even so, it was 2.8 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 above the level in February 2020 (pre-pandemic).
Capacity utilization at 76.8% is 2.8% below the average from 1972 to 2020. This was at consensus expectations.
Note: y-axis doesn’t start at zero to better show the change.