Economic Impact Group, LLC Economic Data Brief
 
Manufacturing

Industrial Production and Capacity Utilization — September 2026

Released October 16, 2026 · Federal Reserve · full release · charts & history on EconomicsGuru
Industrial production, total index rose 0.7% in September 2026 to 104.0, +2.2% from a year ago. Prior month: 103.3. Prior periods were revised in 35 series — figures below reflect that.
Total IP
104.0
▲ +0.7% m/m
· +2.2% y/y
Manufacturing
99.4
▲ +0.3% m/m
· +1.4% y/y
Cap. utilization
76.9%
▲ +0.4 pp m/m
· +0.8 pp y/y
Cap. util, mfg
75.9%
▲ +0.1 pp m/m
· +0.1 pp y/y

Revision check

REVISIONS DETECTED (35) — since last report. Every change below is calculated on the revised figures.
Mining · August 2026122.7→124.3▲ +1.6
Mining · July 2026122.5→123.7▲ +1.2
Mining · June 2026122.4→123.3▲ +0.9
Mining · May 2026121.9→122.8▲ +0.8
Utilities · July 2026111.1→111.7▲ +0.6
Business equipment · August 2026100.5→101.0▲ +0.5
Consumer goods · July 202697.1→97.5▲ +0.4
Materials · August 2026108.1→108.4▲ +0.3
Utilities · August 2026113.0→113.3▲ +0.3
Consumer goods · August 202697.3→97.5▲ +0.2
Durable manufacturing · August 2026102.7→102.9▲ +0.2
Capacity utilization, total · August 202676.3%→76.4%▲ +0.1 pp
Industrial production, total index · August 2026103.1→103.3▲ +0.2
Materials · May 2026107.3→107.5▲ +0.2
and 21 more smaller revisions (all of them are applied to the figures below).

Key figures

Headline →September 2026August 2026M/M chgM/M %Y/Y chgY/Y %12-period trend
Industrial production, total indexREVISED
2017=100, SA
104.0103.3▲ +0.7▲ +0.7%▲ +2.3▲ +2.2%
 
 
 
 
 
 
 
 
 
 
 
 
 
ManufacturingREVISED99.499.2▲ +0.3▲ +0.3%▲ +1.4▲ +1.4%
 
 
 
 
 
 
 
 
 
 
 
 
 
MiningREVISED124.5124.3▲ +0.2▲ +0.2%▲ +3.4▲ +2.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
UtilitiesREVISED117.3113.3▲ +4.0▲ +3.5%▲ +9.4▲ +8.7%
 
 
 
 
 
 
 
 
 
 
 
 
 
Capacity utilization, totalREVISED
long-run 1972-2025 average 79.4%
76.9%76.4%▲ +0.4 pp—▲ +0.8 pp—
 
 
 
 
 
 
 
 
 
 
 
 
 
Capacity utilization, manufacturingREVISED
long-run average 78.2%
75.9%75.8%▲ +0.1 pp—▲ +0.1 pp—
 
 
 
 
 
 
 
 
 
 
 
 
 
Trend bars show year-over-year % change for index series, the level for rates and survey indexes over the last 13 periods; the latest period is highlighted.

What stood out

  • Mining: highest level on record (data back to January 1919).
  • Utilities: highest level on record (data back to January 1939).
  • Manufacturing: highest since August 2019 (85 months).
  • Industrial production, total index: up 2.2% from a year ago — the fastest pace since September 2022.
  • Materials: up 2.6% from a year ago — the fastest pace since September 2022.
  • Capacity utilization, total: highest since December 2023 (33 months).

Full detail

Show every category and subcategory
Full detail — market groups →September 2026August 2026M/M chgM/M %Y/Y chgY/Y %
Durable manufacturingREVISED103.0102.9▲ +0.1▲ +0.1%▲ +3.7▲ +3.7%
Nondurable manufacturingREVISED95.695.2▲ +0.4▲ +0.4%▼ −1.1▼ −1.1%
Business equipmentREVISED101.0101.0▲ 0.0▲ 0.0%▲ +6.4▲ +6.7%
Consumer goodsREVISED98.197.5▲ +0.7▲ +0.7%▼ −0.1▼ −0.1%
MaterialsREVISED109.2108.4▲ +0.8▲ +0.7%▲ +2.7▲ +2.6%

Sources

Economic Impact Group, LLC
Economic research for developing communities
Prepared 2026-10-16 13:27 UTC. Green marks an increase, red a decrease — direction only, not good or bad.