Aircraft, commercial shipping watercraft, and rail equipment usually already have a buyer before fabrication starts. Buyers of high-cost transportation equipment generally base the amount of their order on the level of expected demand for transportation services.
|Industrial Production Index (Jan-92=100)||Apr-02||May-02|
|Ships and boats||102.83||107.39|
|Percent change from previous month||0.24||4.43|
|Railroad and other transportation equipment||93.43||93.94|
|Percent change from previous month||0.32||0.55|
|Aircraft and parts||73.96||71.50|
|Percent change from previous month||-3.40||-3.33|
NOTES: These numbers represent the following Standard Industrial Classification groupings: Aircraft and parts (372), Ships and boats (373), and Rail and other transportation equipment (374-6,9). Automotive industries (371) are on the page entitled "Industry Production Indices for Automotive Transportation Equipment."
Data from February to May 2002 are preliminary.
The base period of the original index is the 1992 annual index. The month of January 1992 is set to be the new reference point (=100) by dividing the values of the original index by the value of January 1992 in the original index. It is important to point out that this process changes only the reference point, and not the base period of the index because the weight structure of the index did not change.
SOURCE: Federal Reserve, "Industrial Production and Capacity Utilization" Statistical Release; July 16, 2002; available at: http://www.federalreserve.gov/releases/g17/download.htm.