Abstract #301547

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JSM 2003 Abstract #301547
Activity Number: 463
Type: Topic Contributed
Date/Time: Thursday, August 7, 2003 : 10:30 AM to 12:20 PM
Sponsor: Business & Economics Statistics Section
Abstract - #301547
Title: Reconstructing Industrial Production: An Historical Review
Author(s): John Stevens*+ and Carol A. Corrado
Companies: Board of Governors of the Federal Reserve System and Federal Reserve Board
Address: 20th & C Streets NW, Washington, DC, 20551,
Keywords: NAICS ; SIC ; industrial production ; iIndexes
Abstract:

The Federal Reserve Board's monthly indexes of industrial production and rate of capacity utilization are principal economic indicators. In December 2002 the Federal Reserve Board issued an historical revision of these indexes going back to 1972. This revision, unprecedented among statistical agencies, is the first significant historical restatement of industrial-level economic time series under the new North American Industrial Classification System (NAICS). This paper reviews the history of the industrial production indexes, including the NAICS revision; the organizing principles underlying NAICS; and the implementation of NAICS at other statistical agencies.

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