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FEDERAL RESERVE statistical release For immediate release April 16, 1982 G.3 (402) CAPACITY UTILIZATIONS MANUFACTURING AND MATERIALS March 1982 Capacity utilization in manufacturing declined 0.6 of a percentage point in March to 71*4 percent, following an increase of 1.0 percentage point in February when production by manufacturers rebounded from the sharp, partially weatherrelated drop the preceding month• The operating rate for producers of industrial materials fell 1.0 percentage point to 71,0 percent in March, after rising 0«7 of a percentage point in February* Despite its decline in March, the manufacturing operating rate remained somewhat above its January low of 71.0 percent, but the March rate for materials was lower than it has been since May 1975* Within manufacturing, declines in utilization rates were widespread. The rate for the advanced processing industries decreased 0.3 of a percentage point to 73«6 percent, and the rate for the primary processing industries dropped 1.1 percentage points to 67«5 percent• Operating rates declined substantially for producers of primary metals, aerospace and miscellaneous transportation equipment, nonelectrical machinery, and instruments• Capacity utilization rates rose in March for producers of petroleum products and of motor vehicles and parts, although both of those industries still were operating at sharply curtailed levels. The utilization rate for producers of durable goods materials dropped 1.0 percentage point in March to 66.2 percent, reflecting sizable declines in the output of basic metals and the production of parts for equipment. Producers of nondurable goods materials utilized 73.2 percent of their capacity in March, down 0.8 of a percentage point from the February rate; this cutback was associated with reductions in textile and chemical materials production* The operating rate for energy materials producers dropped 0.9 of a percentage point in March to 81.9 percent, as crude petroleum extraction was curtailed. MANUFACTURING INDUSTRIAL MATERIALS i 1 1 I 1 _LJ_L pfmmv PROCESSING 1 60 100 r i i i i i NONDURABLE GOODS DURABLE GOODS till 1970 I i I 1 1973 I 1S79 I I I i i 1Q7S 1Q7Q i i OUTPUT, CAPACITY AND CAPACITY UTILIZATION Output and Capacity are Percentages of 1967 Output; Capacity Utilization is a Per Cent of Capacity. Seasonally Adjusted Manufacturing MONTHLY CAPACITY SERIES MANUFACTUBING, 19731 i TOTAL HA&. .APE, HAY JUNE JULY AOG. 69.0 79.8 79.8 80.0 79.6 79.8 I 88.0§ i UTILIZATION 1981 1975 ™£»9JLJ s8 SE,P^ . occ. -IS!*— 79.6 78-3 76.6 74.8 1982 JAN. FEB. »A8. 73.1 71.0 72.0 71.4 68.1 68.6 £7.5 72.8 73.9 ! PRIMASST PBQCESSING 93.8| 68.2 80.8 80.7 80.6 79.5 80.1 79.9 78.2 75.7 72.7 69.6 ADVANCED PBOCESSING 8 85.51 69.4 79.2 79«4 79.8 79.7 79.8 79.4 78.3 77.0 75.8 75.0 I OOTPOT 1981 151.3 iAHUFACTUBXNG, TOTAL || III 152.4 152.5 8 1981 19828 . I 11 11 8 8 189.4 145.08 139*58 8 8 PBQCISSING ADVANCED PBOCESSING 157.5 156.5 155.8 148.1 150.2 150.7 ^1 III 190.9 192.4 1 i PKJilBI CAPACXTX 143o5| 135.2J 193.8 I 8 145.81 142.18 187.1 195.0 196.3 188.7 190»4 L I? 8 193.98 8 1 197.54 8 192.0J j 8 19828 Ii 8 195.28 8 I 196.68 I 193.58 , f UTILIZATION 1982 I 1981 79.9 U, III 79.8 79.3 IV 74.8J 8 7U5 j 81.3 80.3 79.4 79.1 79.6 79.2 72.7| J 75.9 8 I 68»1 73.4 Industrial Materials HONTHLX CAPACITY 19731 SEEIES LJH£I1* i HATERXALS, TOTAL DUHABlE GOODS HATEBIALS HBTAL JlAiHEBIALS MOMDUBABLE GOODS HATEBIALS TEX., PAPEB, & CHEH. HAT. 1975 UTILIZATION 1981 MAiU AP£ n HAY J0NE JULY 81.3 31.9 81.6 80,0 79.2 78.8 79.3 79.4 77.3 74.7 72.2 80.3 78.7 79.5 83.0 79-1 73.9 70.8 85.6 84.3 83.9 83.0 82-9 80.3 77.3 85.4 83.5 83.2 82.3 82.1 79.1 75.9 81.7 93.9 84.3 80.5 93.0 82.0 82.0 92.9 81.2 82.3 93.6 79.7 81.3 95-7 79.2 78.8 92.1 76.2 75.5 92.3 72.4 79.7 83.7 86.2 85.6 83.0 82.5 92.61 8 i 91.51 69.4 82o1 81.1 81.1 63.6 79.2 78.8 98.3| 1 8 94.51 8 95.18 68.6 83.9 79.9 67.2 85.4 85.9 65.3 85.0 85.5 57.9 72.4 64.2 81.5 95.3 83.4 81.9 94.9 84.1 84.8 85.2 79.9 77.7 75.5 I TEXTILE M T E B I A L S PAPSB HATEBIALS CHEHICAL HITE£XALS SMEBGY I | 1 flATEBXALS J i 92.6| 99.4| 95.51 8 1 94.6| • OUTPUT 1981 I £J XIX 154.2 153.4 154.3 | 150.9 152.3 152.8 Ji HATEBIALS, TOTAL DUBABLS GOODS HATEBIALS 1982 I 1981 144.0| 137.6 i 187.6 4 8 140.21 130.6 191.8 III 189.0 190.3 192.9 194.2 82.2 JI CAPACITY TI 4 Noy. AUG. 1982 I 8 191.54 192.6 8 8 195.31 196.4 1982 JAN. 1 72.4J ' 71.3 4 8 68-51 66*1 • 65.54 65.6 4 8 74.il| 72.7 72.2J1 70; 1 • 72.0J 68.6 87.5 86.5| 69.01 66.6 I 8 84.0 81.6J 1 UTILIZATION HAiB. 72.0 ?1eO 67.. 2 6£C2 64.8 74.0 73*2 71.3 70.8 71.7 87.9 67.5 82.8 .81.9 1981 I *i III 82.2 81.2 81.1 78.7 78.9 78-7 75.28 8 8 71.84 83.0 79.6 80.5 70.1} 86.5 85.3 83.3 4 77. 24 1.982 IV 71.4 66.5 • METAL HATBfflXALS NONDUBABLE GOODS HATEBIALS I 117.5 112.8 114.2 | 179.2 178.4 175.8 99.5! 8 164.51 157.4 I 141.5 141.7 141.9 207.3 209.2 211.2 • TEX., PAPEB, & CHEH. HAT. TEXTILE HATEBIALS PAPER HATEBIALS CHEHICAL HATEBIALS | 186.7 185.9 182.8 | 114.8 8 151.4 I 232.7 114.5 151.0 231.6 115.5 152.2 224.9 I 130.9 125.1 131.6 169-48 159.6 217.1 1 140. 1 106.88 | 159.7 147.01 I 274.1 206.28 1 1 127.91 129.7 ! 153.5 1 219.4 221.7 140*6 160.7 277.5 141.0 161.9 281.0 154.3 155-0 142.11 4 1 213.11 214.6 1 223.98 225.6i 1 141*68 I 162.81 284.48 4 8 155.81 156.5 i 73.3 J 86.0 84.8 82.5 75.78 ?0«7 81.9 94.8 84.9 81.4 93.9 83.5 81.8 94.1 80-0 85.3 81.1 84.9 75.44 90.31 72.58 4 8 82.14 82«£ SNEfiGY HAXEBIALS NOTES SSTIHATES OF ACTUAL OUTPUT AND CAPACITY OUTPUT ABE BOTH EXPRESSED AS PERCENTAGES OF 1967 ACTUAL OUTPUT. ESTIMATES OF CAPACITY UTILIZATION IN PEfiCENT ABE CALCULATED AS RATIOS OF (1) THE FEDERAL BSSEBVSaS SEASONALLY ADJUSTED INDEXES OF INDUSTRIAL PRODUCTION TO (2) THE CORRESPONDING INDEXES OF CAPACITY. INDUSTRIAL MATERIALS ABE XTEHS BOSH PRODUCED AND OSED AS INPUTS BY HANUFACTUBING PLANTS, HINES AND UTILITIES; INDUSTRIAL MATERIALS COVBfl MANY OF THE XTEHS REPRESENTED IN THE PB1HAAY PROCESSING GBOUPING OF HANUFACTUBING AS HELL AS SOHS OF THE OUTPUT OF HINES AND UTILITIES — SUCH AS IBON ORE* CRUDE OIL, AND ELECTRICITY SOLD TO XNDUSTBY. TBS 1973 HIGHS AND 1975 LOHS IN CAPACITY UTILIZATION, SHOHN IN THE TABLES ABOVE, ABE SPECIFIC 10 EACH SERIES AND HAY OCCUR JN DIFFEBENT MONTHS. INDUSTRIAL PLANTS USUALLY OPEBATE AT CAPACITY UTILIZATION BATES THAT ABE HELL BELOB 100 PEfiCENT; NONE Of THE BROAD AGGREGATE SEBIES HAS EVEB INDICATED A 100 PEBCEHT USE OF CAPACITY. CAPACITY UTILIZATION BATES AVEBAGED ABOUT 83 PERCENT FOB HANUFACTUBING FBOH 1955 THBOUGH 1979, AND ABOUT 85 PSBCENT FOB INDUSTRIAL HATEBIALS FOB 1967 THBOUGH 1979. IN HANUFACTUBING AS A WHOLE, UTILIZATION BATES AS HIGH AS 90 PEBCENT HAVE BEEN EXCEEDED ONLY IN HABSIHE. THE PEAK BATES OF UTILIZATION IN 1973 HEBE ASSOCIATED HITH SIGNIFICANT UPiA£O PBESSUBB ON PRICES, THE METHODOLOGY AND THE SEEIES ABE DESCRIBED IN FBQEBAL RESERVE HEASUBBS O£ CAPACITY AND CAPACITY UTILIZATION, REVISED DATA ABE FOUND IN "CAPACITY UTILIZATIONS HANUFACTUBXNG AND HATEBIALS, JANUARY 1967—DECEASES 1978.« BOTH PUBLICATIONS HAY BE -OBTAINED FBOH PUBLICATIONS SERVICES, BOARD OF GOVEBNORS OF THE FEDERAL BiSBlfE SYSTEH, HASfllNGTOM, D.C. 20551