US industrial production index · United States · as of 2026-09-01
US industrial production index (United States) rose 0.66% in 2026-09-01
US industrial production index for United States was 103.95 index 2017=100 in 2026-09-01, up 0.6842 index 2017=100 (+0.66%) from 103.27 in 2026-08-01; that change ranks in the 91st percentile of monthly changes recorded since 1919-01-01.
US industrial production index
- Latest
- 103.95 in 2026-09-01 obs 415546
- Previous
- 103.27 in 2026-08-01 obs 415545
- Change
- +0.6842 index 2017=100
- History
- 1293 observations, 1919-01-01 to 2026-09-01
Against its own history
- Robust z
- 1.99
- Change percentile
- 91st of 1291 earlier absolute changes
- Value percentile
- 100th of earlier values
- Median change
- 0.0823 (scale 0.303, mad)
- Second difference
- 0.6184 (z 2.31)
- Slope divergence
- 0.28
- Rarity
- last larger move 5 periods ago (2026-04-01)
Record
- Relevance
- 0.301
- Confidence
- 76%
- Status
- published
- Discovered
- 2026-10-19 00:21 UTC
- Expires
- 2026-11-18 00:21 UTC
- Model
- relevance_v1+insight_text_v1
- Validation
- passed
- Causal level
- candidate
Candidate: no reviewed relationship supports a causal reading. Agreement among metrics is co-movement, not cause.
Relevance components
- Statistical surprise: the latest change of +0.6842 index 2017=100 is 2.0 robust standard deviations from the median monthly change (1291 earlier changes), at the 91st percentile of absolute changes. Component 0.62, weight 0.18, contribution 0.112.
- Acceleration: second-difference z 2.3; short-versus-long slope divergence 0.28. Component 0.38, weight 0.12, contribution 0.046.
- Breadth: 8 of 9 related metrics (same category, Production) moved in the same direction as of their latest periods; 1 moved the other way. Component 0.89, weight 0.16, contribution 0.142.
- Graph centrality: no graph entity carries a centrality value for this metric yet, so it reads 0. Component 0.00, weight 0.18, contribution 0.000.
- Historical rarity: the last larger move was 5 periods ago, in 2026-04-01 (window 20 years). Component 0.01, weight 0.08, contribution 0.001.
- Forecast impact: not wired yet; reads 0. Component 0.00, weight 0.14, contribution 0.000.
- Bottleneck impact: not wired yet; reads 0. Component 0.00, weight 0.10, contribution 0.000.
- Public attention: not wired yet; reads 0. Component 0.00, weight 0.04, contribution 0.000.
Relevance (relevance_v1) is the weighted sum of the components: 0.301, against a candidate threshold of 0.30.
What changed and how unusual it is
What changed. The latest current observation for US industrial production index, United States, is 103.95 index 2017=100 for 2026-09-01 (obs 415546). The previous period, 2026-08-01, recorded 103.27 index 2017=100 (obs 415545). The change is +0.6842 index 2017=100, or +0.66%. Under the metric's direction rule (higher is better) that reads as improving.
How unusual. Against the 1291 earlier monthly changes since 1919-01-01, the median change is +0.0823 index 2017=100 and the robust spread (scaled median absolute deviation) is 0.303, giving a robust z-score of 2.0. The absolute change sits at the 91st percentile of earlier absolute changes; the value itself sits at the 100th percentile of earlier values. The last larger move was +0.8432 index 2017=100 in 2026-04-01 (obs 415541, obs 410403), 5 periods ago.
Acceleration. The change in the change (second difference) is +0.6184 index 2017=100, a robust z of 2.3 against earlier second differences. The slope over the last 3 periods is +0.375 index 2017=100 per period against +0.291 over the last 10, a divergence of 0.28 change-scale units.
Templated from stored numbers, no AI. Citations link to the evidence table below.
Modeled interpretation
Explanation
The data are consistent with a rise in the observed US industrial production index [observation:415546] from the prior month value [observation:415545]. Related observed series include capacity utilization at 76.8504 percent [observation:415537] and manufacturing production at 99.4361 [observation:415558].
Alternative explanation (skeptic pass)
The data are consistent with normal month-to-month variation around the recent level.
Why now
The September 2026 observation for the index became available.
What to watch
Subsequent readings of the US industrial production index [observation:415546], capacity utilization [observation:415537], and manufacturing employment [observation:410821].
Supporting metrics
| Metric | Latest | Change | Evidence |
|---|---|---|---|
| Corporate physical economy pulsecategory | 18.61 percent change yoy (2026-09-03) | +1.73 (+10.25%) | obs 414584, obs 410383 |
| Corporate pulse: ai infrastructure capex growthcategory | 78.55 percent change yoy (2026-09-03) | +3.81 (+5.10%) | obs 420642, obs 410499 |
| Corporate pulse: semiconductor capacity capex growthcategory | 18.2 percent change yoy (2026-09-03) | +5 (+37.88%) | obs 420643, obs 410500 |
| Industrial production index (OECD)category | 102 index 2015=100 (2026-07-01) | +0.2051 (+0.20%) | obs 388399, obs 388398 |
| US capacity utilizationcategory | 76.85 percent of capacity (2026-09-01) | +0.432 (+0.57%) | obs 415537, obs 415536 |
| US manufacturing employmentcategory | 12,652 thousands of persons (2026-09-01) | +9 (+0.07%) | obs 410821, obs 410820 |
| US manufacturing production indexcategory | 99.44 index 2017=100 (2026-09-01) | +0.2585 (+0.26%) | obs 415558, obs 415557 |
| US nonfarm business labor productivitycategory | 120.02 index 2017=100 (2026-04-01) | +0.423 (+0.35%) | obs 240319, obs 240320 |
No graph relationships cited; related metrics were found by shared category.
What points the other way
1 related metric moved the other way as of their latest periods:
- Corporate pulse: grid investment capex growth: -5.19 percent change yoy (-14.74%) to 30.02 percent change yoy in 2026-06-30 (obs 409138, obs 404027)
2 related metrics have no comparable change and did not count either way.
Limits: the score compares period-over-period changes of current rows only; earlier vintages are not compared. Related metrics were found by shared category, not by a tested mechanism, so agreement among them does not establish cause.
- Corporate pulse: grid investment capex growth moved against this insight.
Measurable indicators
- The next US industrial production index observation (2026-10-01): a change no larger than the median monthly change of +0.0823 index 2017=100, or a move back the other way, would mean the latest change has normalised.
- Corporate physical economy pulse, currently 18.61 percent change yoy in 2026-09-03 (obs 414584): a move the other way lowers the breadth component.
- Corporate pulse: ai infrastructure capex growth, currently 78.55 percent change yoy in 2026-09-03 (obs 420642): a move the other way lowers the breadth component.
- Corporate pulse: semiconductor capacity capex growth, currently 18.2 percent change yoy in 2026-09-03 (obs 420643): a move the other way lowers the breadth component.
- Revisions: a revised 2026-09-01 value would arrive as a new observation row (the current row is observation 415546) and trigger a rescore.
- Expiry: this insight expires 30 days after discovery unless a newer period supersedes it, and earlier if the relevance score falls below the threshold.
Every number links here
| Observation | Metric | Period | Value | Role | Series | Ingested |
|---|---|---|---|---|---|---|
| 415546 | US industrial production indexUSA | 2026-09-01 | 103.95 index 2017=100 | primary | INDPRO | 2026-10-19 00:14 UTC |
| 415545 | US industrial production indexUSA | 2026-08-01 | 103.27 index 2017=100 | primary | INDPRO | 2026-10-19 00:14 UTC |
| 415541 | US industrial production indexUSA | 2026-04-01 | 102.58 index 2017=100 | context | INDPRO | 2026-10-19 00:14 UTC |
| 410403 | US industrial production indexUSA | 2026-03-01 | 101.73 index 2017=100 | context | INDPRO | 2026-09-21 00:04 UTC |
| 171080 | US industrial production indexUSA | 2018-09-01 | 104.1 index 2017=100 | context | INDPRO | 2026-09-07 09:53 UTC |
| 170046 | US industrial production indexUSA | 1932-07-01 | 3.69 index 2017=100 | context | INDPRO | 2026-09-07 09:53 UTC |
| 414584 | Corporate physical economy pulseUSA | 2026-09-03 | 18.61 percent change yoy | supporting | corporate-physical-economy-pulse@1.0 | 2026-10-12 00:10 UTC |
| 410383 | Corporate physical economy pulseUSA | 2026-08-02 | 16.88 percent change yoy | supporting | corporate-physical-economy-pulse@1.0 | 2026-09-14 00:11 UTC |
| 420642 | Corporate pulse: ai infrastructure capex growthUSA | 2026-09-03 | 78.55 percent change yoy | supporting | corporate-pulse-ai-infrastructure@1.0 | 2026-10-19 00:20 UTC |
| 410499 | Corporate pulse: ai infrastructure capex growthUSA | 2026-08-02 | 74.74 percent change yoy | supporting | corporate-pulse-ai-infrastructure@1.0 | 2026-09-21 00:10 UTC |
| 409137 | Corporate pulse: global logistics capex growthUSA | 2026-06-30 | -5.28 percent change yoy | context | corporate-pulse-global-logistics@1.0 | 2026-09-13 00:17 UTC |
| 409138 | Corporate pulse: grid investment capex growthUSA | 2026-06-30 | 30.02 percent change yoy | counter | corporate-pulse-grid-investment@1.0 | 2026-09-13 00:17 UTC |
| 404027 | Corporate pulse: grid investment capex growthUSA | 2025-12-31 | 35.21 percent change yoy | counter | corporate-pulse-grid-investment@1.0 | 2026-09-07 22:04 UTC |
| 409139 | Corporate pulse: heavy industry capex growthUSA | 2026-08-02 | -16.5 percent change yoy | context | corporate-pulse-heavy-industry@1.0 | 2026-09-13 00:17 UTC |
| 420643 | Corporate pulse: semiconductor capacity capex growthUSA | 2026-09-03 | 18.2 percent change yoy | supporting | corporate-pulse-semiconductor-capacity@1.0 | 2026-10-19 00:20 UTC |
| 410500 | Corporate pulse: semiconductor capacity capex growthUSA | 2026-08-02 | 13.2 percent change yoy | supporting | corporate-pulse-semiconductor-capacity@1.0 | 2026-09-21 00:10 UTC |
| 388399 | Industrial production index (OECD)USA | 2026-07-01 | 102 index 2015=100 | supporting | OECD.SDD.STES,DSD_STES@DF_INDSERV/.M.PRVM.IX.BTE.Y._Z._Z.N | 2026-09-07 20:00 UTC |
| 388398 | Industrial production index (OECD)USA | 2026-06-01 | 101.8 index 2015=100 | supporting | OECD.SDD.STES,DSD_STES@DF_INDSERV/.M.PRVM.IX.BTE.Y._Z._Z.N | 2026-09-07 20:00 UTC |
| 415537 | US capacity utilizationUSA | 2026-09-01 | 76.85 percent of capacity | supporting | TCU | 2026-10-19 00:14 UTC |
| 415536 | US capacity utilizationUSA | 2026-08-01 | 76.42 percent of capacity | supporting | TCU | 2026-10-19 00:14 UTC |
| 410821 | US manufacturing employmentUSA | 2026-09-01 | 12,652 thousands of persons | supporting | MANEMP | 2026-10-05 00:03 UTC |
| 410820 | US manufacturing employmentUSA | 2026-08-01 | 12,643 thousands of persons | supporting | MANEMP | 2026-10-05 00:03 UTC |
| 415558 | US manufacturing production indexUSA | 2026-09-01 | 99.44 index 2017=100 | supporting | IPMAN | 2026-10-19 00:14 UTC |
| 415557 | US manufacturing production indexUSA | 2026-08-01 | 99.18 index 2017=100 | supporting | IPMAN | 2026-10-19 00:14 UTC |
| 240319 | US nonfarm business labor productivityUSA | 2026-04-01 | 120.02 index 2017=100 | supporting | PRS85006093 | 2026-09-07 09:54 UTC |
| 240320 | US nonfarm business labor productivityUSA | 2026 | 119.59 index 2017=100 | supporting | PRS85006093 | 2026-09-07 09:54 UTC |
Feature packet (full inputs to the score)
{
"as_of": "2026-09-01",
"change": {
"pct": 0.006626,
"value": 0.6842,
"observation_ids": [
415546,
415545
]
},
"latest": {
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},
"metric": {
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"kind": "observed",
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"slug": "us-industrial-production",
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"direction": "higher_better",
"frequency": "monthly",
"category_id": "036431ec-c27f-4b1e-83ee-8cae523e3b0f",
"category_name": "Production",
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},
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},
"abs_change": 0.6842,
"all_time_low": false,
"largest_ever": false,
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},
"largest_in_window": false,
"periods_since_larger_move": 5
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"scores": {
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"breadth": 0.8889,
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"centrality": 0,
"acceleration": 0.3831,
"forecast_impact": 0,
"public_attention": 0,
"bottleneck_impact": 0
},
"breadth": {
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"share": 0.8889,
"related": [
{
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{
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{
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},
{
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"change": -5.19,
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"previous": {
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"value": 35.21,
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"direction": "contextual",
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"metric_id": "50df67cb-1003-412a-b9de-16efe29656d6",
"change_pct": -0.147401,
"consistent": false,
"relationship_ids": []
},
{
"via": "category",
"name": "Corporate pulse: heavy industry capex growth",
"slug": "corporate-pulse-heavy-industry",
"unit": "percent change yoy",
"change": null,
"latest": {
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"relationship_ids": []
},
{
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"name": "Corporate pulse: semiconductor capacity capex growth",
"slug": "corporate-pulse-semiconductor-capacity",
"unit": "percent change yoy",
"change": 5,
"latest": {
"id": 420643,
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},
"previous": {
"id": 410500,
"value": 13.2,
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"consistent": true,
"relationship_ids": []
},
{
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"change": 0.2051,
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"relationship_ids": []
},
{
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"slug": "us-capacity-utilization",
"unit": "percent of capacity",
"change": 0.432,
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"period": "2026-09-01"
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"previous": {
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"consistent": true,
"relationship_ids": []
},
{
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"name": "US manufacturing employment",
"slug": "us-manufacturing-employment",
"unit": "thousands of persons",
"change": 9,
"latest": {
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"consistent": true,
"relationship_ids": []
},
{
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"consistent": true,
"relationship_ids": []
},
{
"via": "category",
"name": "US nonfarm business labor productivity",
"slug": "us-nonfarm-labor-productivity",
"unit": "index 2017=100",
"change": 0.423,
"latest": {
"id": 240319,
"value": 120.017,
"period": "2026-04-01"
},
"previous": {
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"value": 119.594,
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},
"direction": "higher_better",
"frequency": "quarterly",
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"change_pct": 0.003537,
"consistent": true,
"relationship_ids": []
}
],
"opposite": 1,
"comparable": 9,
"consistent": 8
},
"history": {
"count": 1293,
"last_period": "2026-09-01",
"change_count": 1292,
"first_period": "1919-01-01"
},
"version": "features_v1",
"previous": {
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},
"surprise": {
"note": null,
"scale": 0.303043,
"robust_z": 1.9862,
"mad_change": 0.2044,
"change_count": 1291,
"scale_method": "mad",
"median_change": 0.0823,
"value_percentile": 0.9961,
"abs_change_percentile": 0.9125
},
"geography": {
"id": "47c911a6-27c0-47d8-9471-9ac075e5be26",
"code": "USA",
"name": "United States"
},
"centrality": {
"value": 0,
"source": "none",
"entity_ids": [],
"entity_slugs": []
},
"acceleration": {
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"long_slope": 0.29095,
"long_window": 10,
"short_slope": 0.375,
"short_window": 3,
"slope_divergence": 0.2774,
"second_difference": 0.6184,
"second_difference_z": 2.3078,
"long_observation_ids": [
171167,
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410403,
415541,
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415543,
415544,
415545,
415546
],
"short_observation_ids": [
415544,
415545,
415546
]
},
"series_window": [
{
"id": 171137,
"value": 100.1196,
"period": "2023-06-01"
},
{
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{
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{
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},
{
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"value": 100.4689,
"period": "2023-10-01"
},
{
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"value": 100.8639,
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},
{
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"value": 100.6031,
"period": "2023-12-01"
},
{
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"value": 99.2223,
"period": "2024-01-01"
},
{
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"value": 100.285,
"period": "2024-02-01"
},
{
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"value": 100.4575,
"period": "2024-03-01"
},
{
"id": 171147,
"value": 100.2434,
"period": "2024-04-01"
},
{
"id": 171148,
"value": 100.863,
"period": "2024-05-01"
},
{
"id": 171149,
"value": 100.894,
"period": "2024-06-01"
},
{
"id": 171150,
"value": 99.9757,
"period": "2024-07-01"
},
{
"id": 171151,
"value": 100.4309,
"period": "2024-08-01"
},
{
"id": 171152,
"value": 99.8084,
"period": "2024-09-01"
},
{
"id": 171153,
"value": 99.4695,
"period": "2024-10-01"
},
{
"id": 171154,
"value": 99.2925,
"period": "2024-11-01"
},
{
"id": 171155,
"value": 100.3273,
"period": "2024-12-01"
},
{
"id": 171156,
"value": 100.0647,
"period": "2025-01-01"
},
{
"id": 171157,
"value": 101.0993,
"period": "2025-02-01"
},
{
"id": 171158,
"value": 101.0404,
"period": "2025-03-01"
},
{
"id": 171159,
"value": 101.1279,
"period": "2025-04-01"
},
{
"id": 171160,
"value": 100.9655,
"period": "2025-05-01"
},
{
"id": 171161,
"value": 101.4785,
"period": "2025-06-01"
},
{
"id": 171162,
"value": 101.894,
"period": "2025-07-01"
},
{
"id": 171163,
"value": 101.6247,
"period": "2025-08-01"
},
{
"id": 171164,
"value": 101.668,
"period": "2025-09-01"
},
{
"id": 171165,
"value": 101.2195,
"period": "2025-10-01"
},
{
"id": 171166,
"value": 101.0344,
"period": "2025-11-01"
},
{
"id": 171167,
"value": 101.4941,
"period": "2025-12-01"
},
{
"id": 171168,
"value": 101.0388,
"period": "2026-01-01"
},
{
"id": 171169,
"value": 101.9053,
"period": "2026-02-01"
},
{
"id": 410403,
"value": 101.7336,
"period": "2026-03-01"
},
{
"id": 415541,
"value": 102.5768,
"period": "2026-04-01"
},
{
"id": 415542,
"value": 102.7232,
"period": "2026-05-01"
},
{
"id": 415543,
"value": 102.961,
"period": "2026-06-01"
},
{
"id": 415544,
"value": 103.2006,
"period": "2026-07-01"
},
{
"id": 415545,
"value": 103.2664,
"period": "2026-08-01"
},
{
"id": 415546,
"value": 103.9506,
"period": "2026-09-01"
}
],
"forecast_impact": {
"value": 0,
"source": "not_wired"
},
"public_attention": {
"value": 0,
"source": "not_wired"
},
"bottleneck_impact": {
"value": 0,
"source": "not_wired"
}
}Component labels: Statistical surprise, Acceleration, Breadth, Graph centrality, Forecast impact, Bottleneck impact, Historical rarity, Public attention. Each stored score keeps this packet so it can be recomputed without the database.