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Open semiconductor cycle monitor

Pricing pressure, production, and factory loading.

A 26-year public baseline for the U.S. semiconductor cycle. Four official monthly series stay in their native units, preserve revisions and missing observations, and can be rebased only when the comparison explicitly says so.

30-second investor brief

Four signals, four measurement bases

Latest values and year-over-year changes describe the published U.S. industry series. They are not product prices, manufacturer ASPs, shipment volumes, market share, or a forecast.

Checking official source
+26.1%
Producer price index72.656

Index Dec 1984=100 · YoY · latest Jun 2026

+0.0%
Export price index56.5

Index 2000=100 · YoY · latest Jun 2026

+11.5%
Industrial production181.88

Index 2017=100 · YoY · latest Jun 2026

-4.1 pp
Capacity utilization72.2%

Seasonally adjusted · YoY · latest Jun 2026

Cycle workbench

Range and interval stay separate

Monthly source data can be viewed monthly, quarterly, or yearly. Quarterly and yearly views are transparent averages; no daily or weekly observations are fabricated.

Open JSONDownload CSV
Range
Interval
Aggregation: Source observations shown without interpolation. All visible aggregated periods contain their expected monthly observations.

Industry price indexes

Direction is comparable only in the explicit base-100 view

U.S. Bureau of Labor Statistics via FRED · monthly observationsEach series: first visible non-missing observation = 100
View chart data
U.S. semiconductor price indexes
PeriodProducer priceExport priceSource monthsPeriod status
Jul 202154.548611Complete period
Aug 202154.766611Complete period
Sep 202154.87561.41Complete period
Oct 202154.947611Complete period
Nov 202155.25160.91Complete period
Dec 202155.4260.71Complete period
Jan 202256.33660.91Complete period
Feb 202256.36661.21Complete period
Mar 202256.72661.51Complete period
Apr 202256.48861.81Complete period
May 202256.62461.61Complete period
Jun 202256.91661.41Complete period
Jul 202256.80461.41Complete period
Aug 202256.63261.91Complete period
Sep 202256.822621Complete period
Oct 202257.31361.41Complete period
Nov 202257.59160.71Complete period
Dec 202257.60760.31Complete period
Jan 202357.23159.91Complete period
Feb 202357.22760.11Complete period
Mar 202357.29159.51Complete period
Apr 202357.142591Complete period
May 202356.5858.61Complete period
Jun 202356.733581Complete period
Jul 202356.91957.61Complete period
Aug 202357.12557.61Complete period
Sep 202357.36257.81Complete period
Oct 202357.374581Complete period
Nov 202357.59157.81Complete period
Dec 202357.536581Complete period
Jan 202457.87357.81Complete period
Feb 202458.04457.81Complete period
Mar 202458.09458.51Complete period
Apr 202458.24558.71Complete period
May 202458.19558.91Complete period
Jun 202458.05258.41Complete period
Jul 202457.45358.11Complete period
Aug 202457.48456.71Complete period
Sep 202457.53356.61Complete period
Oct 202457.99256.61Complete period
Nov 202458.92556.51Complete period
Dec 202458.817571Complete period
Jan 202558.261571Complete period
Feb 202558.05956.71Complete period
Mar 202558.41456.61Complete period
Apr 202558.31256.81Complete period
May 202558.31856.41Complete period
Jun 202557.59656.51Complete period
Jul 202557.56656.51Complete period
Aug 202559.62656.71Complete period
Sep 202559.754571Complete period
Oct 202560.114—1Complete period
Nov 202560.857571Complete period
Dec 202561.05257.21Complete period
Jan 202661.57256.41Complete period
Feb 202667.00755.51Complete period
Mar 202668.26154.91Complete period
Apr 202673.28156.31Complete period
May 202672.9656.41Complete period
Jun 202672.65656.51Complete period
Latest monthly changeProducer -0.4%

Export +0.2%

Why investors watch itPricing pressure

Separates broad U.S. producer and export price direction from individual product quotes.

Related exposureManufacturers and distributors

Company-level sensitivity is not inferred from an industry index.

What could invalidate itMix and revisions

Product mix, index weights, base years, and source revisions can change interpretation.

Output and factory loading

Industrial production index and capacity utilization remain separate native metrics

Monthly
Federal Reserve Board via FRED · seasonally adjusted monthly observationsProduction: 2017=100 · utilization: percent
View chart data
U.S. semiconductor production and capacity utilization
PeriodIndustrial productionCapacity utilization, %Source monthsPeriod status
Jul 2021117.742386.56251Complete period
Aug 2021117.818286.45361Complete period
Sep 2021118.109586.43261Complete period
Oct 2021119.934587.46631Complete period
Nov 2021122.416888.90921Complete period
Dec 2021124.707490.14731Complete period
Jan 2022125.77390.43981Complete period
Feb 2022128.952192.1951Complete period
Mar 2022129.554292.04531Complete period
Apr 2022127.938490.27491Complete period
May 2022128.7790.18151Complete period
Jun 2022131.249591.16621Complete period
Jul 2022131.706190.67431Complete period
Aug 2022132.833390.57111Complete period
Sep 2022134.056790.45731Complete period
Oct 2022132.925788.69881Complete period
Nov 2022133.448988.00151Complete period
Dec 2022130.848985.23421Complete period
Jan 2023130.040383.64641Complete period
Feb 2023133.5484.80081Complete period
Mar 2023133.533183.70761Complete period
Apr 2023135.839884.07281Complete period
May 2023136.067683.16361Complete period
Jun 2023135.436681.77291Complete period
Jul 2023136.689481.57331Complete period
Aug 2023135.623380.04581Complete period
Sep 2023134.423378.50691Complete period
Oct 2023136.404578.87341Complete period
Nov 2023137.826378.94691Complete period
Dec 2023138.937478.87611Complete period
Jan 2024139.421278.4841Complete period
Feb 2024138.224877.18311Complete period
Mar 2024138.354776.65491Complete period
Apr 2024143.873779.10911Complete period
May 2024144.279278.72691Complete period
Jun 2024143.419277.64081Complete period
Jul 2024143.406876.99371Complete period
Aug 2024148.794679.18121Complete period
Sep 2024146.419577.17571Complete period
Oct 2024148.712577.57631Complete period
Nov 2024148.199276.44621Complete period
Dec 2024150.227576.56791Complete period
Jan 2025158.073279.54241Complete period
Feb 2025159.687679.26981Complete period
Mar 2025159.228177.9161Complete period
Apr 2025162.227178.20491Complete period
May 2025164.352678.011Complete period
Jun 2025163.174176.2241Complete period
Jul 2025171.555578.85731Complete period
Aug 2025169.19776.52331Complete period
Sep 2025165.66773.72321Complete period
Oct 2025169.116374.05241Complete period
Nov 2025169.742473.14441Complete period
Dec 2025170.540272.33771Complete period
Jan 2026176.710474.16441Complete period
Feb 2026176.077972.93621Complete period
Mar 2026173.564871.04361Complete period
Apr 2026176.445271.45241Complete period
May 2026180.922872.50961Complete period
Jun 2026181.882472.15771Complete period
Latest monthly changeOutput +0.5%

Utilization -0.4 pp

Why investors watch itCycle breadth

Output and loading can reveal whether price moves coincide with physical production conditions.

Related exposureIDMs, fabs, equipment

The aggregate series does not identify a node, fab, end market, or company.

What could invalidate itScope and revisions

U.S. industry coverage cannot be treated as global capacity or supplier utilization.

Evidence & method

Exact series identities stay attached

Every observation retains its FRED series ID, source agency, native unit, seasonal-adjustment basis, and revision behavior. The October 2025 export-price gap remains blank.

PCU33443344 · price indexSemiconductor producer price index

Index Dec 1984=100 · Not seasonally adjusted · U.S. Bureau of Labor Statistics

IQ21320 · price indexSemiconductor export price index

Index 2000=100 · Not seasonally adjusted · U.S. Bureau of Labor Statistics

IPG3344S · production indexSemiconductor and electronic-component industrial production

Index 2017=100 · Seasonally adjusted · Board of Governors of the Federal Reserve System

CAPUTLG3344S · utilization rateSemiconductor and electronic-component capacity utilization

Percent · Seasonally adjusted · Board of Governors of the Federal Reserve System

Valid usesLong-cycle context and directional comparison

Use native levels for exact lookup. Use the explicitly rebased view to compare direction across indexes with different bases.

Do not inferGlobal sales, product prices, shares, or forecasts

These series do not reveal GPU, HBM, DRAM, NAND, foundry, vendor, node, customer, or shipment-level economics.

Revision policyRefresh overlap; preserve prior versions

Official observations can be revised. A failed refresh retains the last validated snapshot and never converts a missing value to zero.