US Industrial Production: 2026 Schedule, Dates and What to Expect

US Industrial Production measures the real output of American factories, mines and utilities. It is published every month by the Board of Governors of the Federal Reserve System in the statistical release known as G.17, “Industrial Production and Capacity Utilization”. The next release is on Friday, September 18, 2026 at 9:15 am ET (2:15 pm London) and will cover output during August 2026. This page carries the full 2026 release calendar, the methodology behind the index, the most recent readings and an ICS and Google Calendar feed you can subscribe to so each release date lands in your own diary automatically.

The G.17 report is a medium-impact release for markets. It rarely moves interest rate expectations on its own, because the industrial sector accounts for a relatively small share of US output and employment, but it is closely watched by anyone with exposure to manufacturing, mining, energy, autos, semiconductors and the global goods cycle. Because US factory demand pulls in components from Germany, Japan, South Korea, Taiwan, Mexico and China, a soft or strong G.17 report is read in Europe and Asia as a signal about export orders, not just about America.

2026 schedule

The Federal Reserve publishes G.17 at 9:15 am ET, normally in the middle of the month, covering the previous calendar month. The dates below are the confirmed remaining 2026 release dates. Earlier 2026 releases took place on January 16, February 18, March 16, April 16, May 15, June 15, July 17 and August 18.

Dates in September and October fall under Eastern Daylight Time, so 9:15 am ET equals 2:15 pm in London and 3:15 pm in Frankfurt. The November and December releases fall under Eastern Standard Time, when 9:15 am ET is still 2:15 pm in London because the UK has also moved off summer time.

What is US Industrial Production?

The industrial production index tracks the physical volume of goods and power produced in the United States. It covers three sectors: manufacturing (roughly three quarters of the index by value added), mining (which includes oil and gas extraction) and electric and gas utilities. It deliberately excludes agriculture, construction, transport, trade, finance, government and all services, so it is a measure of the goods-producing economy rather than the whole economy.

The index is expressed relative to a base year, currently 2017 = 100. In July 2026 total industrial production stood at 103.0 percent of its 2017 average, according to the Federal Reserve, meaning industrial output was about 3 percent higher than the 2017 average level. Headlines usually focus on the month-on-month percentage change, which is seasonally adjusted to strip out predictable seasonal patterns such as summer plant shutdowns for retooling in the car industry.

The same release publishes capacity utilisation, which is industrial output divided by an estimate of how much industry could produce at a sustainable maximum. It is quoted as a percentage: 76.3 percent in July 2026, which the Federal Reserve noted was 3.1 percentage points below the long-run 1972 to 2025 average. A low utilisation rate suggests spare capacity and limited pressure on goods prices. A high rate suggests factories are running hot, which can feed into inflation and into capital spending on new plant and machinery.

Industrial production matters beyond the factory floor for three reasons. It is a cyclical bellwether: industry turns down before services in most recessions. It is a global signal, because US manufacturers are large buyers of imported intermediate goods. And it feeds directly into the Federal Reserve’s own read on the economy, since the Fed both compiles the data and sets interest rates.

How is it calculated?

The Federal Reserve builds the index from hundreds of individual series. Where physical output data exist, for example tonnes of steel, barrels of crude oil, kilowatt hours of electricity or units of vehicle assemblies, those quantities are used directly. Where they do not, the Fed estimates output using production-worker hours from the Bureau of Labor Statistics or electric power use by industry, adjusted for productivity trends. The individual industry indexes are then aggregated using value-added weights, so an industry counts in proportion to the value it adds rather than its gross sales.

Two features of the data deserve attention. First, revisions are routine. Early estimates rely on incomplete source data and are revised in each of the following months as fuller information arrives. The June 2026 reading, for instance, was first reported as a gain of 0.1 percent and was later shown as a gain of 0.3 percent. Anyone comparing a headline print with a forecast should check whether prior months moved too, because a revision can matter as much as the new month.

Second, there is an annual revision, in which the Fed incorporates comprehensive data such as the Census Bureau’s Annual Survey of Manufactures and updates seasonal factors, capacity estimates and weights. These revisions can reshape the recent path of output, so a series that looked flat can end up looking mildly positive, or the reverse.

The release also carries preliminary annual capacity estimates. In the February 18, 2026 G.17 release the Fed projected that total industrial capacity would rise 1.1 percent during 2026, measured fourth quarter to fourth quarter, after a 1.5 percent increase in 2025, with manufacturing capacity up 1.0 percent, mining capacity up 0.1 percent and utilities capacity up 2.8 percent. Capacity growth is the denominator of the utilisation rate, so it quietly shapes how tight industry looks.

What time is it released and where?

G.17 is released at 9:15 am Eastern Time, which is 2:15 pm in London, 3:15 pm in Frankfurt and Paris, and 10:15 pm in Tokyo during US daylight saving time. The timing is unusual: most US data land at 8:30 am ET, an hour before the New York equity open, whereas industrial production arrives 15 minutes before the opening bell, when equity index futures, Treasury yields and the dollar are already actively repricing the day.

The release is published on the Federal Reserve Board’s website as a PDF and an HTML summary, with full data tables and the complete historical series. The same numbers are available immediately from the St Louis Fed’s FRED database under the series codes INDPRO for the total index and TCU for total capacity utilisation. There is no pre-release lock-up for journalists in the way there is for some agency data, and the numbers are not distributed in advance, so the first prints hit newswires within seconds of 9:15 am ET.

Full release dates for 2026 are listed on this page and confirmed by the Federal Reserve, which has stated that the 2026 G.17 releases are published at 9:15 am on January 16, February 18, March 16, April 16, May 15, June 15, July 17, August 18, September 18, October 16, November 17 and December 16.

Recent readings

The table below shows the most recent published figures for total industrial production and capacity utilisation. Where a month has been revised, the figure shown is the one the Federal Reserve reported most recently in the source cited.

Source: Federal Reserve Board G.17 releases. In July 2026 manufacturing output also grew 0.2 percent, mining rose 0.2 percent and utilities rose 0.5 percent, while manufacturing capacity utilisation was 76.0 percent and the mining operating rate was 86.1 percent. Total industrial production in July 2026 was 1.1 percent above its year-earlier level, a slower annual pace than the 1.4 percent recorded in April 2026. The complete monthly history back to 1919 is available free from the Federal Reserve and from FRED.

The broad picture through 2026 has been one of modest, uneven growth: monthly changes measured in tenths of a percentage point, an annual rate of increase near 1 percent, and a utilisation rate sitting roughly 3 percentage points below its long-run average. That combination describes an industrial sector that is expanding but with visible slack.

What is the consensus forecast?

For the September 18, 2026 release, covering August 2026 output, a consensus forecast has not yet been published. Surveys of economists from Reuters, Bloomberg, Dow Jones and S&P Global Market Intelligence are normally circulated in the week before the release, so expectations for August generally firm up in the days after the September 2026 jobs and inflation reports.

When the consensus does appear, it is usually expressed as a month-on-month percentage change for total industrial production, with separate forecasts for manufacturing output and for the capacity utilisation rate. Forecasters build those estimates from three inputs published earlier: aggregate weekly hours worked in manufacturing from the monthly jobs report, motor vehicle assembly schedules, and weather-driven swings in electricity and gas demand, which move the utilities component sharply in unusually hot or cold months. Survey evidence such as the ISM manufacturing index and the regional Federal Reserve manufacturing surveys is used as a cross-check on direction rather than as a precise input.

How do markets react?

The typical reaction to G.17 is small. Industrial production is a coincident indicator built largely from data already in the public domain, so much of the information is anticipated. Bond and currency traders usually treat the report as a second-tier confirmation rather than a trigger, and on most release days the move in the 10-year Treasury yield is a basis point or two, if that. A basis point is one hundredth of a percentage point.

There are three situations in which the report matters more. The first is when the economic cycle is in question. If investors are debating whether the US is heading into recession, a run of negative industrial production prints becomes evidence, and a large downside surprise can push Treasury yields lower and increase the pricing of Federal Reserve rate cuts in interest rate futures markets. The second is when the utilisation rate is close to or above its long-run average, because tight capacity implies goods price pressure and can therefore harden the case for higher rates. The third is sector-specific: a big swing in the motor vehicles and parts index moves car makers and their suppliers, and a swing in mining moves energy equipment and service shares.

Equity market reaction tends to be concentrated in cyclical sectors, industrials, materials, semiconductors and transport, rather than in the whole index. Currency reaction runs through the growth channel: a strong US industrial economy alongside firm inflation is generally dollar-supportive, while evidence of an industrial slowdown tends to weaken the dollar against the euro, the yen and the pound if it raises the odds of Fed rate cuts. Because the same data affect expectations for global goods demand, European and Asian exporters, German machinery makers, Japanese and Korean component suppliers and Taiwanese chipmakers, can trade on it in their next session.

One practical note on timing: because the release lands at 9:15 am ET, 15 minutes before the New York equity open, any reaction often shows up first in index futures and then in the opening cash market print rather than in a clean, isolated move.

What It Means for Your Money

Industrial production will not change your mortgage rate on its own, but it is one of the inputs that shapes the interest rate path, and the interest rate path touches almost everything you pay and earn.

• Mortgages and loans. Persistent weakness in industrial output adds to the case for the Federal Reserve to cut rates, which tends to pull down longer-dated bond yields. US 30-year mortgage rates track those yields, and because global bond markets move together, UK gilt yields and therefore fixed mortgage pricing in Britain can follow, though the Bank of England’s own decisions matter far more for UK borrowers.
• Savings rates. The same logic works in reverse for savers. Signs of a stronger, more capacity-constrained industrial economy support expectations of higher-for-longer policy rates, which helps keep savings and money market yields elevated. A run of weak data does the opposite.
• Jobs. Manufacturing, mining and utilities employ a minority of American workers, but industrial jobs are concentrated regionally and pay above-average wages. Falling output usually precedes cuts to overtime hours first and headcount later, so this report can be an early warning for anyone working in or supplying those industries, including in the UK and European supply chains that feed US plants.
• Prices. Capacity utilisation is a rough gauge of goods price pressure. When factories have spare capacity, as they have through 2026 with utilisation about 3 percentage points below its long-run average, competition tends to restrain the prices of manufactured goods. Tighter capacity historically shows up later in goods inflation.
• Pensions and investments. If you hold a global equity fund or a workplace pension, you own industrial and cyclical companies whose earnings track this data. A sustained industrial downturn typically hits industrials, materials, autos and semiconductors hardest, while government bonds in the same portfolio often rise in value as rate cut expectations build. That is diversification doing its job.
• The pound, dollar and euro. Currency moves on this release are usually modest, but the direction is intuitive: evidence of US industrial strength supports the dollar, while weakness tends to lift the euro and the pound against it. That feeds into the cost of holiday money, imported goods and the sterling value of any US assets you hold.

None of these are predictions. They are the channels through which a single monthly statistic on factory, mine and utility output can eventually reach a household budget.

Related economic events

• US CPI Report: the monthly consumer price index, the single most market-moving US inflation release and a direct input into Federal Reserve decisions.
• US Jobs Report: non-farm payrolls, unemployment and average hourly earnings, published on the first Friday of most months, and the source of the manufacturing hours data used to estimate industrial production.
• US GDP Report: the quarterly measure of total US output, which puts monthly industrial data into context.
• US PCE Report: personal income, spending and the Federal Reserve’s preferred inflation gauge.

Frequently Asked Questions

When is the next US industrial production release?

The next G.17 release is on Friday, September 18, 2026, covering output in August 2026. It is followed by releases on October 16, November 17 and December 16, 2026.

What time is industrial production released?

At 9:15 am Eastern Time, which is 2:15 pm in London and 3:15 pm in Frankfurt. That is 15 minutes before the New York stock market opens.

How often is industrial production published?

Monthly, usually in the middle of the month, covering the previous calendar month. There is also an annual revision that updates the whole recent history, plus routine revisions to the two or three months before the latest one.

Where can I find the official release?

On the Federal Reserve Board’s website, in the G.17 “Industrial Production and Capacity Utilization” release. The same series are available from FRED at the Federal Reserve Bank of St Louis, where the total index is INDPRO and total capacity utilisation is TCU.

How does industrial production affect interest rates?

Indirectly. It is one of many inputs into the Federal Reserve’s assessment of growth and spare capacity: weak output and low capacity utilisation strengthen the argument for lower rates, while strong output and tight capacity point the other way. Inflation and labour market data carry considerably more weight in rate decisions.