US factory output reaches its highest level since 2019, Federal Reserve data show
US manufacturing output rose 0.3% in September 2026 to 99.4 on the Federal Reserve's index (2017 = 100), its highest level since August 2019 and 1.4% above a year earlier.
The story in focus
The Federal Reserve's index of US manufacturing output rose to 99.44 in September 2026 (2017 = 100), according to the G.17 industrial production release of 16 October, compiled in the BureauLine US manufacturing output tracker. That is the highest reading since August 2019 and 1.4% above September 2025. Output has climbed 2.5% since December 2025 but remains 6.7% below its December 2007 peak.
- The manufacturing output index (NAICS basis, 2017 = 100, seasonally adjusted) was 99.44 in September 2026, up 0.3% from 99.18 in August, the Federal Reserve reported on 16 October.
- September's level is the highest since August 2019 (99.72) and sits above the February 2020 pre-pandemic reading of 98.83.
- Output is up 1.4% from September 2025 and 2.5% from December 2025, after a dip in late 2025 when the index fell from 98.08 in August to 96.99 in December.
- Factory output is still 6.7% below its all-time high of 106.61, set in December 2007.
What the latest data show
The Federal Reserve Board's G.17 release, published on 16 October 2026, put the manufacturing output index at 99.44 for September, up from 99.18 in August. The Fed's own summary said manufacturing output rose 0.3% in September, with gains of 1% or more in primary metals, machinery, and electrical equipment, appliances and components, while output of motor vehicles and parts fell 3.0%.
Compared with September 2025, when the index stood at 98.05, factory output is 1.4% higher. Total industrial production, which also includes mining and utilities, rose 0.7% in September and was 2.2% above its year-earlier level.
Back above pre-pandemic levels
September's reading is the highest since August 2019, when the index was 99.72. It is also above the 98.83 recorded in February 2020, just before the pandemic shutdowns sent the index down to 79.86 in April 2020, its lowest point in the tracker's data since 2000.
The recovery has not been a straight line. After reaching 98.08 in August 2025, output slipped for four months to 96.99 in December 2025. It then rose in eight of the nine months to September 2026, with August the only decline.
Semiconductors lead durable goods
In the third quarter as a whole, the Fed said manufacturing output rose at an annual rate of 0.7%. Durable manufacturing rose at an annual rate of 3.8%, driven in part by a 28.4% gain in the output of semiconductors and related electronic components, while nondurable manufacturing output fell at a 1.6% rate.
Capacity utilization in manufacturing rose 0.1 percentage point to 75.9% in September, which the Fed noted is 2.3 percentage points below its 1972 to 2025 average, meaning factories still have room to expand output.
Still below the 2007 peak
Despite the recent gains, US factory output remains 6.7% below its record of 106.61 in December 2007, on the eve of the financial crisis.
The Fed plans an annual revision of the industrial production indexes on 24 November 2026, which will move the base year to 2022 and incorporate new Census Bureau benchmark data for 2023 and 2024. Past values, including those cited here, may change after that revision.
About the data
The figures come from the Federal Reserve Board's G.17 Industrial Production and Capacity Utilization release, using the manufacturing index on a NAICS basis (FRED series IPMAN), seasonally adjusted, with 2017 equal to 100. The index measures real output, not sales or employment.
The BureauLine US manufacturing output tracker publishes the monthly series since January 2000, updated daily from the official source, with a free CSV download and an embeddable chart. All values cited here matched the Federal Reserve data on FRED when checked on 27 October 2026.
Is US manufacturing output growing in 2026?
Yes. The Federal Reserve's manufacturing output index rose to 99.44 in September 2026 (2017 = 100), up 0.3% on the month, 1.4% on the year and 2.5% since December 2025. It is the highest level since August 2019, though still 6.7% below the December 2007 peak.
Sources & further reading
- Industrial Production and Capacity Utilization, G.17 (Federal Reserve Board) ↗federalreserve.gov
- Industrial Production: Manufacturing (NAICS), IPMAN (FRED, St. Louis Fed) ↗fred.stlouisfed.org
- BureauLine US manufacturing output tracker: monthly Federal Reserve index since 2000 ↗bureauline.com
- Monthly manufacturing output index, spreadsheet file ↗bureauline.com
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