Board of Governors of the Federal Reserve System

months. Declines in the output of clothing and consumer energy products...month, was nearly 3 percent below its level of twelve months earlier.

four-month reporting window. The capacity indexes and capacity utilization

month of increase in that industry group. At 132.6 percent of its 1992...months of one year and the first months of the next. The new procedure

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Strengthening

month for the previous two months; declines in the production of appliances...month during the previous three months, fell back 2.9 percent in May;

months. Production at utilities fell sharply, and mining activity was ...month. The production of nondurable consumer goods edged down; a small

month. The production of nondurable consumer goods increased 0.4 percent...months. The output of business equipment increased 0.4 percent, with the

month, dropped 0.3 percent in September, but the level of output was 2.5...month of broad declines in consumer durable goods helped push the output

months, it has increased 5.3 percent. The index for business supplies,...month and a rebound in coal production from a dip in March. Industry Groups

Testimony of Governor Roger W. Ferguson, Jr. Implications of developments in electronic commerce Before the Subcommittee on Finance and Hazardous