A monthly statistical report, released around the 15th of each month at 9:15 a.m. Eastern Time by the Federal Reserve Board, that measures the production of goods and power for domestic sales in the United States and for export. It excludes production in the agricultural, construction, transportation, communication, trade, finance, and service industries, as well as government output and imports. The industrial production index is developed by weighting each component according to its relative importance in the base period.
This data gives insight into the performance of the economy. Capacity utilization, which measures the extent to which U.S. factories are busy producing goods, also is an important indicator. The industrial production data that is released is preliminary and may be revised during the successive three months as new sources of data become available. At the fourth month, the indexes are not revised until the data is revised annually.