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(a) Federal Nondefense Gross Investment, Billions of Dollars, Seasonally Adjusted Annual Rate (NDGI)
BEA Account Code: A798RC1

A Guide to the National Income and Product Accounts of the United States - http://www.bea.gov/national/pdf/nipaguid.pdf

Federal Nondefense Gross Investment

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(b) Federal Government: Real National Defense Gross Investment, Billions of Dollars, Seasonally Adjusted Annual Rate (DGI)

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(c) State and Local Government Gross Investment, Billions of Dollars, Seasonally Adjusted Annual Rate (SLINV)

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(d) Fixed Private Investment, Billions of Dollars, Seasonally Adjusted Annual Rate (FPI)

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(e) Consumption of Fixed Capital, Billions of Dollars, Seasonally Adjusted Annual Rate (COFC)

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(f) Gross Domestic Product, Billions of Dollars, Seasonally Adjusted Annual Rate (GDP)

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(a) Capacity Utilization: Total Industry, Percent of Capacity, Seasonally Adjusted (TCU)
Capacity Utilization: Total Industry (TCU) is the percentage of resources used by corporations and factories to produce goods in manufacturing, mining, and electric and gas utilities for all facilities located in the United States (excluding those in U.S. territories).(1) We can also think of capacity utilization as how much capacity is being used from the total available capacity to produce demanded finished products.

Capacity utilization indexes are constructed for 71 industries in manufacturing, 16 in mining, and 2 in utilities. (1) Physical data on capacity utilization are primarily compiled from trade sources and government sources, such as the U.S. Geological Survey and the U.S. Energy Information Administration.(1) When physical data are unavailable, capacity utilization data are compiled from the U.S. Census Bureau’s Quarterly Survey of Plant Capacity Utilization, which provides data for almost 70 percent of total industry capacity.(1) Additionally, the capacity index is developed on a monthly basis, designed to be consistent with the production index.(1)
According to the Board of Governors of the Federal Reserve System, the capacity index tries to conceptualize the idea of sustainable maximum output, which is defined as the highest level of output a plant can sustain within the confines of its resources. The Board of Governors defines the seasonally adjusted capacity utilization rate as the output index divided by the capacity index. The capacity utilization rate can also implicitly describe how efficiently the factors of production (inputs in the production process) are being used. (1) It sheds light on how much more firms can produce without additional costs. Additionally, this rate gives manufacturers some idea as to how much consumer demand they will be able to meet in the future.
The Federal Reserve strives to construct a capacity index consistent with time by using different relevant data sources.(1) Developing an index that is reasonable given the time period is the primary aim for this index, but there are still some difficulties. Extensive technological and structural changes have and will continue to occur, affecting the degree of tightness the Federal Reserve index of capacity utilization will represent.(2) In addition, each series of capacity utilization is flawed by commission; therefore, they should be used with caution.(2)
References
(1) Board of Governors of the Federal Reserve System. “Industrial Production and Capacity Utilization.” Statistical release G.17;. May 15, 2013.
(2) Bauer, Paul W. and Deily, Mary E. “A User’s Guide to Capacity- Utilization Measures.” Economic Commentary. Federal Reserve Bank of Cleveland, July 1, 1988; https://www.clevelandfed.org/newsroom-and-events/publications/economic-commentary/economic-commentary-archives/1988-economic-commentaries/ec-19880701-a-users-guide-to-capacity-utilization-measures.aspx.

Capacity Utilization: Total Industry

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NOTES

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A798RC1

A Guide to the National Income and Product Accounts of the United States - http://www.bea.gov/national/pdf/nipaguid.pdf

Suggested Citation:

U.S. Bureau of Economic Analysis, Federal Nondefense Gross Investment [NDGI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NDGI, June 28, 2017.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A788RC1

A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Suggested Citation:

U.S. Bureau of Economic Analysis, Federal Government: Real National Defense Gross Investment [DGI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DGI, June 28, 2017.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A799RC1

A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Suggested Citation:

U.S. Bureau of Economic Analysis, State and Local Government Gross Investment [SLINV], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SLINV, June 28, 2017.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A007RC1

A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Suggested Citation:

U.S. Bureau of Economic Analysis, Fixed Private Investment [FPI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FPI, June 28, 2017.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A262RC1

A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Suggested Citation:

U.S. Bureau of Economic Analysis, Consumption of Fixed Capital [COFC], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/COFC, June 28, 2017.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A191RC1

Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States.

For more information, see the Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Suggested Citation:

U.S. Bureau of Economic Analysis, Gross Domestic Product [GDP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDP, June 28, 2017.

Source: Board of Governors of the Federal Reserve System (US)  

Release: G.17 Industrial Production and Capacity Utilization  

Units:  Percent of Capacity, Seasonally Adjusted

Frequency:  Monthly

Notes:

Capacity Utilization: Total Industry (TCU) is the percentage of resources used by corporations and factories to produce goods in manufacturing, mining, and electric and gas utilities for all facilities located in the United States (excluding those in U.S. territories).(1) We can also think of capacity utilization as how much capacity is being used from the total available capacity to produce demanded finished products.

Capacity utilization indexes are constructed for 71 industries in manufacturing, 16 in mining, and 2 in utilities. (1) Physical data on capacity utilization are primarily compiled from trade sources and government sources, such as the U.S. Geological Survey and the U.S. Energy Information Administration.(1) When physical data are unavailable, capacity utilization data are compiled from the U.S. Census Bureau’s Quarterly Survey of Plant Capacity Utilization, which provides data for almost 70 percent of total industry capacity.(1) Additionally, the capacity index is developed on a monthly basis, designed to be consistent with the production index.(1)
According to the Board of Governors of the Federal Reserve System, the capacity index tries to conceptualize the idea of sustainable maximum output, which is defined as the highest level of output a plant can sustain within the confines of its resources. The Board of Governors defines the seasonally adjusted capacity utilization rate as the output index divided by the capacity index. The capacity utilization rate can also implicitly describe how efficiently the factors of production (inputs in the production process) are being used. (1) It sheds light on how much more firms can produce without additional costs. Additionally, this rate gives manufacturers some idea as to how much consumer demand they will be able to meet in the future.
The Federal Reserve strives to construct a capacity index consistent with time by using different relevant data sources.(1) Developing an index that is reasonable given the time period is the primary aim for this index, but there are still some difficulties. Extensive technological and structural changes have and will continue to occur, affecting the degree of tightness the Federal Reserve index of capacity utilization will represent.(2) In addition, each series of capacity utilization is flawed by commission; therefore, they should be used with caution.(2)
References
(1) Board of Governors of the Federal Reserve System. “Industrial Production and Capacity Utilization.” Statistical release G.17;. May 15, 2013.
(2) Bauer, Paul W. and Deily, Mary E. “A User’s Guide to Capacity- Utilization Measures.” Economic Commentary. Federal Reserve Bank of Cleveland, July 1, 1988; https://www.clevelandfed.org/newsroom-and-events/publications/economic-commentary/economic-commentary-archives/1988-economic-commentaries/ec-19880701-a-users-guide-to-capacity-utilization-measures.aspx.

Suggested Citation:

Board of Governors of the Federal Reserve System (US), Capacity Utilization: Total Industry [TCU], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/TCU, June 28, 2017.

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