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-
9 y
% ; -
FEDERAL RESERVE statistical release
G.3 (402)
For Immediate release
CAPACITY UTILIZATION
Manufacturing, Mining, Utilities, and Industrial Materials
April 16, 1984
Capacity utilization in manufacturing> mining and utilities edged
up 0.2 percentage point in March to 80.9 percent•. Manufacturers operated at
81.1 percent of capacity, the highest level for this series in four years.
The utilization rate in manufacturing has risen 12*3 percentage points since
its recession low in 1982 and is nearing its 1967-82 average*
In contrast, mines and utilities continued to operate at rates
substantially below their long-term averages* In March the utilization
rate in mining declined by 0.5' percentage point because of another reduction
in drilling for oil and gas. The rate for utilities rose 0*6 percentage
point following a 2 percentage point drop in February; these movements
reflected changing weather conditions.
Within manufacturing, the largest increases occurred in petroleum
products, which continued to rebound following a sharp dip last December,
Substantial increases also occurred in the electrical machinery and motor
vehicle industries which are operating at relatively high rates of utilization,
Output in the paper industry pressed more closely against capacity as the
utilization rate rose 0*3 percentage point to 98*5 percent* Utilization
rates in the primary and fabricated metals and nonelectrical machinery
industries rose somewhat, while rates were unchanged or declined slightly for
a number of industries.
Producers of industrial materials operated at 81.9 percent of
capacity in March, up 0.3 percentage point from the month before* The
utilization for durable goods materials rose 0*5 percentage point while that
for nondurable goods materials was unchanged* The rate for energy materials
edged up another 0«2 percentage point to 84*6 percent of capacity.
Capacity Utilization: S u m m a r y
Percent of capacity, seasonally adjusted
Series
j
1973
HIGH
1975
LOW
1967
1982
1978
LOW
-80
UBIGjJLj
k¥¥$«
1983
DEC |_
1984
JAK j
BAIT"
88.4
71.1
87.3
69*6
82.4.
79.1
80*0
80«7
'80*9
Manufacturing
Durable
Nondurable
87.9
87.9
89.1
67^6
71.0
87,5
89«4
87.2
68«8
64.8
•81.8.
80 a 5*
83.9.
78.9
11.5
80.7
80«0
79.1
81.2
80.3
81.8
81.1
80.5
81*7
Mining
Utilities
91.8
94*9
86*0
82.0
90.4
86.8
69.6
79*0
86.5.
88.6.
74.7
85.7
75.2
84.8
75.2
82«8
74.7
83.4
92.6
69*3
88.9
66.6
83.3.
79.6
80.5
81.6
81.9
Total Imfystry
Industrial Staff rials
CAPACITY UTILIZATION
MARCH DATA
SEASONALLY ADJUSTED, PERCENT
110
TOTAL INDUSTRY
TOTAL MATERIALS
90
70
50
110
MINING
UTILITIES
90
70
50
110
MANUFACTURING
REFINED PETROLEUM
PRODUCTS
90
NONDURABLE
70
50
110
MOTOR VEHICLES
AND PARTS
90
70
50
30
1969
1972
1975
1978
1981
1984
1969
1972
1975
1978
1981
1984
MANUFACTURING, MINING AND UTILITIES
Table 1
Capacity Utilization
Monthly, seasonally adjusted, percent of capacity
1973
Series
H I G H
1 9 7 5
LOW
Total Industry
8 8 . 4
7 1 . 1
Manufacturing
8 7 . 9
6 9 . 0
Primary processing
Advanced processing
Durable manufacturing
Stone, clay and glass products
Iron and steel, subtotal
Nonferrous metals, subtotal
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Motor vehicles and parts
Autos
Aerospace and misc. trans, eqp.
Instruments
Nondurable manufacturing
Foods
Textile mill products
Paper and products
Chemicals and products
Petroleum products
Rubber and plastics products
9 3 . 7
8 5 . 5
8
8
1 0
9
8
8
8
9
7 . 9
8 . 0
3 . 3
9 . 0
6 . 3
8 . 3
8 . 7
8 . 7
NA
7 6 . 0
8 9 . 6
|
1 9 7 8
\
H I G H
8 7 . 3
|
6 8 . 2
6 9 . 4
I
6 7 . 6
6 4 . 0
i 69.2
60.8
65.7
71.8
6 2 . 3
5 1 . 3
HA
6 8 . 0
7 3 . 7
8 7 . 5
|
|
|
|
|
|
|
8 9 . 4
" 9 0 . 4
|
97.5
|
|
j
9
9
8
9 0
9
9
|
|
|
|
|
|
|
|
|
j
. 2
. 0
. 1
6
. 5
. 6
AUG
77.3
78.2
7 8 . 7
7 9,.
8 0 . 0
8 0.7
8 0 . 9
6 8 . 8
77.3
78.4
7 8 . 9
78.8
78.9|
8 0 . 0
80.9
8 1 . 1
7 2 . 1
7 1 . 5
7 7 . 1
78.1
76.9
79.7
77.8
8 0 . 4
80.0
8 0 . «
7 8 . 0
79.8
81.6
80.5
8 1 . 7
77.9
79.2|
78.61
74.6
73.6
62.5
73.9
70.6
68.5
76.0
75.3
65. 1
76.0
71.3
76.5
75.3
70.2
7 6 . 8
7 5 . 6
6 6 . 0
80.5
77.7
71.7
79. 1
77.5
67.6
77.9
73,4
72.7
8 0.3
78.9
72.4
7
7
6
8
7
77.5|
76.0|
61.9|
80.5|
72.0|
70.9|
R 8 . 4 |
8 3 . 3 |
9 0 . 1
8 6 . 4
7
7
7
9
8
81.7J
71.1!
76.0|
83.6
71.7
76.9
83.7
72.5
77.4
74.5
74.4
92.2
87.1
84.5
72.3
77.4
81.2
78.9
88.1
96.7
70.6
73.9
92.5
81.8
81.7
77.8
91.3
B0.7|
78.0|
88.9|
95.7|
70.6|
71.11
92.6|
88.2
98.2
71.2
78.9
93.3
6
6
3
6
6
6
7
4 6
4
3
8
2
0
1
4
.
.
.
.
.
.
.
.
8
0
8
1
7
6
7
1
7 3 . 1
7 7 . 9
8 0 . 0
7 8 . 6
NA
5 9
7 4 .
6 8 .
6 7
8 3
7 4 .
7 7 .
6 8 .
7 4 .
|
63.7
59.5
68.1
72.2
78.1
83.5
. 7
1
9
. 3
. 6
1
.1
0
2
6 8 . 8
8 6 . 5
7 8 . 9
8 3 . 8
75.3
78.6
68.3
75.1
80.5
68.7
7
1
9
7
9
.
.
.
.
.
5
0
1
5
0
7 0 . 0
8 8 . 0
8 0 . 2
77.1
77.2
69.6
75,5
7 5 . 9
7 0 . 6
7 5 . 4
9
4
4
1
6
.
.
.
.
.
3
2
0
5
5
80.8
80.8
79.6
90.3
95.3
71.2
76.0
90.9
91.2
96.3
72.2
70.2
80.9
80.0
89.9
93.4
7 0.8
76.5
87.8
7 7 . 3
9 2 . 0
7
9
9
7
7
9
86 . 5
68.1
69.5
70.2
7 0 . 8
71.5
73.2
74.7|
75.2
75.2
74.7
88.6
89.8
79.4
78.5
83.5
82.9
85.0
84.8
83.9
83.3
82.1
83.0
81.7
85.7|
84.8
84.0
82.8
8 4 . 5
83.4
82.0
75.8
76.9
86.0
90.4
69.6
9 4 . 9
9 7 . 6
82.0
86.8
8 2 . 1
8 7 . 0
79.0
| 77.9
Utilities
Electric utilities
73.6
72.6
68.3
I 78.4 | 67.8 |
82.3 | 55.7 |
83.8
71.8
79.6
64.3
| 79.8
61.0 |
8 7 . 2
2
3
1
9
6
76.0
8 0 . 5
9 1 . 8
Mining
.
.
.
e
.
MAR
7 6 . 3
62«1
9 7 . 4
7
1
9
5
4
FEB {
7 6 . 4
8 4 . 0
8 0 . 6
7
. 1 9 8 4
J A N
|
7 1 . 8
8 0 . 7
8 8 . 8
6 7 . 4
71.0
7
6
6
6
8
NOV |
|
7 1 . 6
7 3 . 8
83.9
85.2
76.5
83.3
91.3 ! 7 3 . 0 { 86.2
8 4 . 2
95.1
89.6
6 4 . 0
83.6
78.7
8 9 . 6
93.0
71.5
91,5
74.0
88.3
8 9 . 1
O C T
8 1 . 8
S 35.8
i 93.9 I 6 9 . 1
85.7
95.4
96.7
86.2
99.1
SEP 1
|
|
1.
DSC |
!
79.1!
8 2 . 4
6 6 . 2
7 0 . 0
9 2 . 3
YFAE
AGO | 1 9 8 3
MONTH
J U L Y !
6 9 . 6
1
9 1 . 4
8 5 . 9
8
0
3
.
4
1
1 9 6 7
-82
R V F H .
1 9 8 2
LOW
7 9 . 9
81.8
8 1 . 5
7 8 . 8
8
1
6
3
6
1
.
.
.
.
.
.
8
7
8
9
7
3
2
8
4
5
9
1.3
. 9
. 4
. 0
. 3
7
9
7
2
8 4 . 7 |
8 1 . 3
79.9
Output, Capacity, and Capacity Utilization
Quarterly, seasonally adjusted
]
OUTPUT
Series
1 9 8 3
I
I I
Total Industry
1 3 8 . 5
1 4 4 . 5
Manufacturing
1 3 8 . 4
1 4 5 . 2
1 3 7 . 0
1 4 5 . 2
1 4 5 . 1
Primary processing
Advanced processing
139.7
124.2
151.8
I
I
1
155.5! 159.7| 194.6
195.5
196.4
7 3 . 9
77.3
7 8 .
1 5 6 . 5 |
160.9|
195.7
1 9 6 . 6
197.5
197.3| 198.3
1
19 8.4J 199.5
71.2
152.8
70.7
7 3 . 8
77.4
7 8 . 9 |
152.3
152.8
1 5 6 - 4 |
1 5 6 . 1 }
159.9|
161.8J
194.3
196.5
1 9 4 . 8
195.3
198.6
195.81 196.4
199.7| 201.0
70.5
71.1
7 4 . 6
78.3
76.9
7 9 . 9 J
7 8 . 2 |
139. 1
148.5
75.0
110.9
125.4
156.6
191. 1
145.8
132.3
1 5 0 . 1 | 184.7
3 199.6
j 120. 1
148.4
133.11 176.9
171.6! 226.7
2 0 0 . 0 J 2 0 9 . 6 J 222.4
1 5 4 . 2 \ 1 6 5 , 6 | 193.7
132- 1J 141,7| 167.8
103.OS 106.2J 143. 1
1 6 3 . 5 |
1 6 8 . O j
213.0
67.2
70.7
69.7
57.6
74.7
73.8
62.5
74.7
70.3
68.2
84.7
76.1
78.8
68.3
75.1
76.9J
75.7J
66.0!
80.7
7<;.s
81.
71.4
81. 3}
78. 1 S
89. 8 J
96.5|
72.1J
7 6 . 6
9 0 . 2
7 5 . 1 «
9 1 . 9 |
77. 6
97.9
154.0
Nondurable manufacturing
Foods
Textsia mill products
Paper and products
Chemlcais and products
Petroleum products
Rubber and plastics products
159.0
153. 1
129.5
156.9
201.9
113.3
264. 1
165.5
155,7
139.3
160.5
211.4
122.5
288«3
1
1
1
1
2
1
3
116.7
112.3
163.6
185.2
169.6
192.5
Mining
Utilities
Electric
utilities
8
. 4
3
6
6
7
0
4
1 3 1 . 1
1 3 9 . 7
6 9 . 2
1984
I
I?
I I I
111.2
116.4
146.2
179.9
130.7
109.5
98.1
155.7
1 .
3
2 .
0 .
7 .
0 .
0 .
1 .
U T I L I Z A T I O N
1 9 8 3
I
1 9 8 3
Durable manufacturing
Stone, clay and glass products
Iron and steel, subtotal
Nonferrous metals, subtotal
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Motor vehicles and parts
Autos
Aerospace and misc. trans, eqp.
instruments
1 3
6
1 0
1 1
1 3
1 7
1 2
1 0
C A P A C I T Y
1 9 8 4 |
I !
9 9 . 2
1 6 1 . 5
7
5
4
6
2
2
0
2
9
7
8
0
4
4
.
.
.
.
.
.
.
7
1
6
0
9
2
6
7
5
4
7
2
4
7
6
1
5
.
.
.
.
.
8
5
5
2
O
j
j
j
J
j
I I
73.5
IV
I I I
8 [
I
80. 5
80. 7
81.
2
80.1}
a
0
1 8 6 . 8 |
201.9|
179.0|
231.0|
227.4|
190.7J
167.8|
146.3J
216.21
1
2
2
1
2
1
1
1
3
1
3
8
7
4
4
8
0
8
213.9
200.2
163.2
176.9
309.4
162.1
337.7
2
2
1
1
3
2 1 6 . 4
161.3| 1 6 0 . 4
338.51
7
7
7
8
6
6
7
165.2
1 6 5 . 3
165.4
165.5j
7 0 . 6
6 7 - 9
7 0 . 2
7 3 .
1}
75. 1
2 0 8 . 5
2 3 9 . 2
2 0 9 . 8
2 4 1 . 1
211.1
243.0
212o4| 2 1 3 . 8
244.9| 2 4 6 . 9 |
7 8 . 5
7 7 . 4
8 0 . 8
7 9 . 8
8 4 . 4
8 3 . 8
84.OS
8 2 . 81
83. 7
82. 4
1 6 3 . 6
1 1 7 5 , 9
3 1 1 . 4 J
1 1 6 . 1
1 2 1 . 0 |
1 2 4
1 7 8 . 2
2 0 3 . 6
1 7 8 . 4 j
203.0J
1 7 8 . 9 |
2 0 3 . 4 |
4 |
I
201. 1
120.1
148.4
178.3
229.6
225.7
191.7
167.8
145.2
215.1
176.51 2 1 1 . 7
I 1 9 7 . 2
O
197.6
IV
I I I
1 8 6 . 1
J 3 0 4 . 1
124.4J 1 6 3 . 8
i 336.0
121.11
I I
185.4
200.4
120.1
148.4
177.6
228.1
224.1
192.7
167.8
144.2
214.1
1 4 3 . 8 |
1 5 2 «. 8 J
7 9 . 2 }
1 1 6 . 6 |
1 2 8 . 2 8
1 6 1 . 8 |
1
1
1
1
2
1984
1
9
6
7
0
6
3
2
8
3
6
6
3
6
.
.
.
.
.
.
.
1 8 7 . 7
1 2 0 . 1 |
1 4 8 . 4 |
1
0
6
7
1
5
1
3
7
2
.
.
.
.
0 |
7 j
0 J
4 j
1 |
7 9 . 8
3 2 . 7
2 9 . 5
9 0 . 9
168.7
147.2
217.5
1 6 5 . 7
6
5
6
6
6
7
6
6
6
2
8
2
0
6
2
0
.
.
.
.
.
.
.
.
0
8
9
5
7
8
0
4
68.4
7 2 . 3
5
7
9
9
6
9
8
.
.
.
.
.
.
.
1
6
1
2
4
2
6
7
6
6
R
6
6
4
5
4
0
7
5
.
.
.
.
,
.
9
5
1
3
8
2
68.0
72.8
77.8
7
8
9
6
7
8
8
5
1
8
5
5
.
.
.
.
.
.
3
3
0
9
2
6
9 0 . 4
9 5 . 0
7
7
7
8
8
1
0
8
.
.
.
.
6
6
0
0
|
|
|
|
80.81
78.7|
70.4J
75.6|
80.
0
7
3
86.7
83, 9
72. 2
77. 2
74.
73.
91.
6
INDUSTRIAL MATERIALS
Table 3
Capacity Utilization
Monthly, seasonally adjusted, percent of capacity
1973
Series
HIGH
1975
LOW
1978
-80
1 HIGH
198 2
LOM
1967
-82
AVER.
YEAR J
AGO J _ 1983
MONTH
JULY!
AUG J
SEP I
OCT |
NOV J
I
1 _1984
PEC | JAS f
PEB |
MAR
Industrial Materials
92.6
69.3
88.9
66.6
83.3
71.5
76.5
77,4
78.6
79.5
79.6
79.6|
80.5
81.6
81.9
Durable goods materials
91.4
63.5
88.4
59.8
79.7
66.0
7 2. 1
7 3.6
75-2
76.1
76.5
!
77.0J
78.5
80.2
80.7
71,3
Metal materials
Raw steel
Aluminum
Nondurable goods materials
Textile, paper, and chemical materials
Paper materials
Chemical materials
Energy materials
9 7 . ft
68.0
95.4
46.2
82.2
58.8
62.3
64.0
65.5
68.0
66.8
66.8|
67,3
70.6
107.1
96.8
68.0
73.4
102.9
97.9
40.2
57.9
84.8
90.6
55,7
59.8
59.4
68.0
61.0
71.2
63.3
73.6
67.5
75.1
68.6
76.0
73.8|
79.0|
70.0
79.8
74.0
82.2
94.4
67.4
91.7
70.7
86.5
76.8
80,7
81. 1
82.9
84.1
83.8
81.8
82.4
82-4
82.1
95.1
65.4
92.3
68.6
86.5
75.8
t 80.4
80,5
82.6
84.1
83.7
1
81.61
•
81.2J
81.4
82.0
99.4
95.5
72.4
64.2
97.9
91.3
86.3
64.0
93.4
85.1
90.3
71.9
96.7
75.9
96.9
75.5
99.0
77,8
99.4
79.7
101.3
79.0
98.8|
76.2|
99.3
76.5
99. 1
77.4
94.5
84.4
88.9
78.5
88.5
79,2
82.6
82.8
81.6
81.4
81.8
1
83.6J
s
84.2
84.4
84.6
IV
1984
I
1983
I
IV
1984
I
194.0| 194.7
1
i
196.5J 197.1
I
139.61 139.1
70, 1
73.5
77. 5
64.2
68.9
73. 6
56. 1
60.7
63. 9
118.51
167.7!
I
51.9
59.0
57.7
62-7
61. 2
70. 9
Table 4
Output, Capacity, and Capacity Utilization
Quarterly, seasonally adjusted
OOTPUT
Series
1983
T
II
III
IV
Industrial Materials
134. 8
141. 7
149.9
1
154.31
1
Durable goods materials
125. 2
134. 7
144.2
150.3|
Metal materials
78.6
84.9
89,3
Raw steel
Aluminum
61. 9
99. 0
68. 7
105. 1
72.7
119.0
Nondurable goods materials
Textile, paper and chemical materials
Paper materials
Chemical materials
Energy materials
16 3. 7
171. 7
179.1
169. 3
179. 6
188.0
149. 9
204. 7
153. 4
219. 4
162.8
22 7.8
122. 2
121. 5
127.4
CAEACITT
1984| 1983
II
I
1
158.4J 192.3
1
J
157.31 195.2
II
9 7 . 0 | 140.2
1
1
1 119. H
82.8|
1 167.7
128.6|
I1
183.5| 182.31 217.8
t
193.2| 191.8| 229.4
1
167.4J
1 165.3
294.8
235.0|
1
1
1
127.8J 131,5| 153.9
I
93.8|
III
192.9
193,4
195.6
196.0
139.9
139.8
1 19. 1 118.8
167.7 167.7
UTILIZATION
II
III
I
79. 6 | 8 1 . 3
I
!
76.51 7 9 . 8
I
67.2| 69.7
*
69.9|
76.7|
i
t
83.2J 8 2 . 2
1
83.0J 81.9
218.8
219.6
220.6| 221.8
75. 2
78.5
81.5
230.7
231.6
232.7| 234.2
73, 8
77.9
81. 2
166.1
296.6
166.9
298.3
167.7J
300. 11
1
90. 7
69 4
92.3
74.0
97. 5
76. 4
99. 8 J
78,3|
1
154.3
154.7
155.3| 155,8
I
!
79. 5
78.7
82. 3
82. 3f
1
84.4
Deflation. This release contains estimates of output, capacity, and capacity utilization for the
nation's factories, mines, and electric and gas utilities. Estimates of actual output and capacity output are expressed as percentages of 1987 actual output. Estimates of capacity utilization
are calculated as ratios, in percent, of the Federal Reserve's seasonally adjusted indexes of industrial production to the indexes of capacity. The capacity indexes are based on a variety of
data, Including capacity data in physical units, surveys of capacity growth and utilization rates,
and estimates of capital stock growth. Instead of a formal definition of capacity the concept of
practical capacity is applied, which is the greatest level of output that a plant can maintain
within the framework of a realistic work pattern, taking account of normal downtime, and
assuming sufficient availability of inputs to operate machinery and equipment In place. When
the capacity Indexes for individual industries are aggregated—for example to total manufacturing—no explicit account is taken of possible general equilibrium constraints such as emerging
industry bottlenecks.
Per$$»eetive. The historical highs and lows in capacity utilization shown in the tables above are
specific to each series and did not all occur in the same month. Industrial plants usually
operate at capacity utilization rates that are well below 100 percent: none of the broad aggregates has aver reached 100 percent. For mining, manufacturing, and utilities as a whole, and
for total manufacturing, utilization rates as high as 80 percent have been exceeded only in wartime.
Groupings. Estimates of capacity and industrial production for manufacturing industries are
aggregated to primary processing and advanced processing industries, to durable and nondurable manufacturing industries, and to total manufacturing. The mining, manufacturing, and
utilities estimates aggregate to the total index. Industrial materials are items produced and used as inputs by manufacturing plants, mines, and utilities. Industrial materials include many of
the items included in the primary processing grouping of manufacturing, as well as some of the
output of the advanced processing industries, mines, and utilities—such as iron ore, crude oil,
semiconductors, and electricity sold to industry.
Sources. The methodology used to estimate the series is discussed in New Federal Reserve
Measures of Capacity and Capacity Utilization, Federal Reserve Bulletin, July 1983. Revised
data from 1967-82 are included in the statistical supplement to the July 1983 capacity utilization release, which may be obtained from Publications Services, Board of Governors of the
Federal Reserve System, Washington, D.C. 20551.
Rounding. The rounding algorithms applied to the capacity, output, and utilization rate series
are independent. Aggregates are derived from unrounded detailed components.
Release schedule for 1984. Approximately 11 a.m. on February 16, March 16, April 16, May 16,
June 18, July 16, August 16, September 17, October 17, November 16, and December 17.
@FedFRASER