In the second quarter of 2010, increases in domestic production for cement, construction sand and gravel, and crushed stone were large compared with those of the first quarter of 2010, but largely seasonal
In the second quarter of 2010, increases in domestic production for cement, construction sand and gravel, and crushed stone were large compared with those of the first quarter of 2010, but largely seasonal. The increase in phosphate rock production partly reflected a seasonal upturn in fertilizer production. Iron ore production increased by 21% in the second quarter of 2010 compared with that of the first quarter of 2010, owing mainly to upward trending raw steel production.
Decreased production for some mineral commodities in the second quarter of 2010 as compared with production in the same period of 2009 may be attributed to declines in construction spending, which dropped 11% for the year to date through June compared with the similar period of 2009, according to the Census Bureau. However, the Census Bureau and Department of Housing and Urban Development reported that privately owned housing starts for the year to date through June 2010 were 14% above those for the first half of 2009.
Mine and plant production data for selected mineral commodities are provided monthly or quarterly by the U.S. Geological Survey to the Board of Governors, Federal Reserve System, for use in preparing its index of industrial production and the related capacity indexes and capacity utilization rates. These measures cover manufacturing, mining, and electric and gas utilities, and are among the key economic indicators monitored by the Federal Reserve in determining monetary policy.