INDUSTRIAL_PRODUCTION
Industrial Production
The Federal Reserve’s G.17 release measures output of factories, mines and utilities — the physical-economy scorecard.
| Published by | Federal Reserve Board |
|---|---|
| Frequency | Monthly, around mid-month |
| Release time | 9:15 AM ET |
What it measures
Industrial production indexes real output in manufacturing, mining and utilities; capacity utilization shows how much of potential output is in use.
Why traders watch it
- It is a physical-volume measure, immune to price illusion — a clean cyclical read.
- Capacity utilization historically flags overheating and investment cycles.
How to read it
- Manufacturing output ex utilities is the core signal — weather distorts utilities.
- Capacity utilization near long-run averages (~80%) historically marks tightness.
FAQ
Why 9:15 AM instead of 8:30?
The G.17 is a Federal Reserve statistical release with its own traditional schedule — 9:15 AM ET, after the market’s early data window.
Manufacturing is small now — why care?
It is still the cycle’s most volatile part and where recessions show first in physical volume. Markets read it as the cyclical canary.
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The official source of each release is authoritative. Not investment advice.