US Industrial Production
Industrial production rose 2.2% over the 12 months ending September 2026, up from 1.6% in August 2026. The industrial production index stood at 103.95 (2017 = 100). A year earlier (Sep 2025), the reading was 1.9%.
Industrial Production Growth: chart
12-month % change in the industrial production index, seasonally adjusted.
Latest readings
Monthly data| Month | 12-month change | Change (pp) | Index level |
|---|---|---|---|
| Sep 2026 | 2.2% | +0.6 | 103.95 |
| Aug 2026 | 1.6% | +0.3 | 103.27 |
| Jul 2026 | 1.3% | -0.2 | 103.20 |
| Jun 2026 | 1.5% | -0.2 | 102.96 |
| May 2026 | 1.7% | +0.3 | 102.72 |
| Apr 2026 | 1.4% | +0.7 | 102.58 |
| Mar 2026 | 0.7% | -0.1 | 101.73 |
| Feb 2026 | 0.8% | -0.2 | 101.91 |
| Jan 2026 | 1.0% | -0.2 | 101.04 |
| Dec 2025 | 1.2% | -0.6 | 101.49 |
| Nov 2025 | 1.8% | 0.0 | 101.03 |
| Oct 2025 | 1.8% | -0.1 | 101.22 |
| Sep 2025 | 1.9% | +0.7 | 101.67 |
| Aug 2025 | 1.2% | -0.7 | 101.62 |
| Jul 2025 | 1.9% | +1.3 | 101.89 |
| Jun 2025 | 0.6% | +0.5 | 101.48 |
| May 2025 | 0.1% | -0.8 | 100.97 |
| Apr 2025 | 0.9% | +0.3 | 101.13 |
| Mar 2025 | 0.6% | -0.2 | 101.04 |
| Feb 2025 | 0.8% | 0.0 | 101.10 |
| Jan 2025 | 0.8% | +1.1 | 100.06 |
| Dec 2024 | -0.3% | +1.3 | 100.33 |
| Nov 2024 | -1.6% | -0.6 | 99.29 |
| Oct 2024 | -1.0% | +0.2 | 99.47 |
pp = percentage points.
Related indicators
All US economy indicators →Frequently asked questions
Is US industrial production growing?
Industrial production rose 2.2% over the 12 months ending September 2026, up from 1.6% in August 2026. The industrial production index stood at 103.95 (2017 = 100). A year earlier (Sep 2025), the reading was 1.9%.
What does industrial production measure?
Physical output — not sales or prices — in manufacturing, mining and utilities. Manufacturing is by far the largest piece. Utility output swings with the weather, so analysts often focus on manufacturing alone.
How is industrial production different from the ISM manufacturing index?
The ISM index is a survey of purchasing managers that shows whether conditions are improving or worsening, and it comes out early in the month. Industrial production measures actual output and arrives later, so the two complement each other.
Source: Federal Reserve Board (G.17), via FRED, Federal Reserve Bank of St. Louis (series INDPRO). Data checked Nov 6, 5:40 PM ET. Not investment advice.