Industrial production refers to the output of the economy’s manufacturing, mining, and utility sectors. Since October 2000, manufacturing output has fallen every month except July 2001 and January 2002, the most recent month for which data are available. Manufacturing accounts for about 87% of total industrial production, so it is not surprising that movements in industrial production match those in manufacturing. Since October 2000, industrial production fell every month except July 2001, when it was essentially flat.
Suggested citation: "Industrial Production," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-03, pp. 11, 03.01.2002.