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FEDERAL RESERVE statistical release G.3 (402) For immediate release August 18, 1980 CAPACITY UTILIZATION: MANUFACTURING AND MATERIALS July 1980 Capacity utilization in manufacturing declined Io6 percentage points in July to 74.2 percent. The utilization rate for producers of industrial materials dropped 1.7 percentage points to 74.0 percent. Both rates remained above their 1975 cyclical lows of about 69 percent. For manufacturing industries, the drop in operating rates continued to be widespread in July. The utilization rate for primary processing industries fell 1.8 percentage points in July to 70.8 percent, and the rate for advanced processing industries declined 1.3 percentage points to 76.3 percent. Part of a sharp drop in the monthly utilization rate for nonferrous metals production was due to a strike in the copper industry. Large drops in utilization rates also occurred for industries producing food, chemicals, instruments, textiles, paper, electrical machinery, nonelectrical machinery, fabricated metals, and iron and steel. For iron and steel, capacity utilization in July was about 55 percent, the lowest rate since August 1971. The July rate for motor vehicles and parts remained at about 53 percent, only slightly above its cyclical low in February 1975. Producers of durable goods materials operated at 68.8 percent of capacity in July, 2.2 percentage points below the June rate. Nondurable goods materials utilization declined 2.5 percentage points to 76.3 percent. The utilization rate for energy materials producers increased from 85.2 percent in June to 86.0 percent in July, reflecting increased electricity generation because of the severe heat wave over a large part of the country. MANUFACTURING PERCENT INDUSTRIAL MATERIALS 100 ENERGY TOTAL 80 TOTAL 60 100 NONDURABLE GOODS PRIMARY PROCESSING 80 ADVANCED PROCESSING DURABLE GOODS i ri i i i i 60 1968 1971 1974 1977 1980 1971 1974 1977 1980 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 U T I L I Z A T I O N SERIES M A N U F A C T U R I N G , TOTAL 69.0 86.1 84.9 68.2 38.9 1 85.51 69.4 84.6 PI M A R Y PROCESSING DVANCED PROCESSING 1975 1979 LOH I JULY 19731 HI^Hl 1 38.0| 1 1 AUG. SEP. OCT. J N O V . DEC. 1 85.3 84.9 34.6 87.7 87.3 86.3 36.7 83.3 84.2 83.9 83.4 1 84.11 1 I 85. P| 1 83.3| 19RO JAN. P4.4 ?PL*. SAB.'" 33.H J.UL1 APR. MAV 80.7 78.1 75. P 74.2 R*.3 04 . <- R3.6 80.5 75.9 72.6 70.3 83.4 83.3 82.8 80.8 79.2 77.6 76.3 J OUTPUT 1979 ___ _ TT •*-•*• III 153.1 153.3 • I T M A R Y PROC'SSTNG 161.9 163.4 .DVANC5D PROCESSING 148.5 148.1 M A N U F A C T U R I N G , TOTAL IV 1980 J I 153.0J 152.7 1 1 161.81 160.1 1 1«!S.^! 148.7 ! 1 1979 J ii III 1 143.71 178.2 1 145.21 184.2 1 142.81 175.0 CAPACITY TV IT; 179.5 135.7 176.2 1930 1 i 180.81 1P2..T I I 187.21 188.7 I 177.4J 178.8 L 1 1 II i 1 133. R j 1 1 190.2| 1 180.4) 1 UT/LI7ATTOK -ji - III 85.4 87.9 88.0 84.8 84.0 IV 1 84.6J 1 1 86.41 1 83.6) 1 1930 T II 83.8 78.2 84.9 76.4 83.1 79.2 industrial Materials aONTPLY CAPACITY UTILIZATION SERIES M A T E R I A L S , TOTAL 5URABL* GOODS BATERIALS METAL M A T E R I A L S 'ONDUPABLE GOODS MATERIALS TEX., P A P F R , C CHES. MAT. T5TTILE M A T E R I A L S PAPER BATFRIALS CHEHICAL M A T E R I A L S ENEPGY MATERIALS 1973| HIGHI I 92.6| 1 J 91.5| 1979 1975 LOB | JULY 98.21 1 1 94.5J 1 95.11 J 92. 6J 99.4| 95.51 1 1 94.61 1 1979 II "ATERIALS, TOTAL DUPABLE GOn^S M A T E R I A L ? METAL MAT^PIALS N O N D U R A B L E GOO!>S -ATEP.IALS TF.X., PAPSR, F- CHE-. M A T . TEXTILE M A T E R I A L S PAPER M A T E R I A L S CPEHICAL M A T E R I A L S E N E R G Y MATEPHLS NOTE: A.UG. SB. P. OCT. NOV. | DEC. 1 1 86.0| 1 1 83.41 69.4 87.9 86.9 86.8 86.6 86.4 63.6 37.3 85.5 85.2 84.7 83.9 68.6 92.4 89.3 88.4 85.1 67.2 39.6 90.0 90.1 90.1 65.3 90.2 90.7 91.1 91.0 57.9 72.4 64.2 88.8 97.3 88.8 87.5 97.4 89.8 90.3 98.1 89.7 90.0 98.2 89.5 87.1 _J OUTPUT 86.1 86.2 36.3 84.2J 1 1 90.4 90.7| I 91.0 91. 1J 1 R9.5| 89.2 97.51 97.9 89.8 90.1| 1 1 87.2 86.2| ! CAPACITY 84.8 II? 155.6 156.6 157.7 158.7 124.3 126.9 173.4 175.7 181.3 184.3 119.6 140.7 224.8 122.4 147.0 226.6 128.1 128.3 IV I 156.31 1 1 156.31 I 119.5» 1 1 178. 3| 1 136. 9| I 123.7J 148. 4| 230.2[ 1 ! 129.1J 1 1980 I 156.0 155.2 117.2 178,5 186.2 121.5 142.7 232.1 129.9 84.7 1980 JAN.. FSP« MIR. APR. M.flY JUNE JUT I 86.0 85.4 84.9 82.3 78.7 75. 7 ^4.0 83.6 82.5 82.1 78.7 74. B 71.0 68.8 33.7 81.6 83.3 76.7 70.6 *6.0 91.0 89.5 80.3 86.6 81.8 73.3 76.3 91.2 R9.6 88.6 86.6 81.6 73.0 75.4 88.4 96.0 90.8 38. 4 91.5 89.4 86.4 92.4 8fl.2 84.9 91.7 86.2 82.4 89.6 79.6 80.0 81.7 74.8 85.4 87.1 87.7 86.1 85.4 35.2 1 1 1979 19RO -111 IJ „ III IV I 1 1 145.31 178.1 179.5 181.01 182.5 I I 1 I 141.7| 183.0 184.5 186. O J 187.7 1 1 100.41 140.3 140.7 141.11 141.5 1 1 1 1 165.8J 193.5 195.3 197.3! 199.1 1 1 172.11 201.3 203.2 2 0 5 . 3 J 207.3 I 1 114.61 137.3 137.7 133.11 133.5 139.5| 149.6 150,6 151.6J 152.9 2 1 0 . 4 J 250.3 2 *; 3 . 1 256. 3J 259.4 1 1 I 1 128.8J 147.5 148.3 149.21 149.8 __ _ J _1 1 1 III. 1 184.11 1 1 189.31 1 141.31 1 1 201.3J I 209.61 1 139.1 | 154.5) 262.6] 1 1 150.51 i flf.O UTILIZATION 1979 II 87.3 III R7,2 86.2 86.0 33.5 90.2 89.6 89.9 90.0 90.7 87.1 94.0 89.8 88.9 97.6 R9.5 86.9 86.5 IV 1 36.3| 1 1 34.01 1 84.7| 1 1 90.4| 1 91.0J 1 89.61 97.9| P9. 8| 1 1 86.61 1 1980 T_ TI 35.4 78.9 °2.7 74.3 32.9 71. 1 99.6 R2.4 39.3 R2. 1 87.7 93.3 P9.5 R2.4 "0.1 R0.2 86.7 85. f ESTIMATES OF ACTUAL OUTPUT AND CAPACITY OUTPUT ARE BOTH EXPRESSED AS P E R C E N T A G E S OF 1967 ACTUAL OUTPUT. E S T I M A T E S OF CAPACITY U T I L I Z A T I O N IS PERCENT A R E CALCULATED AS RATIC3 OT (1) THE F E D E R A L R E S E R V E ' S S E A S O N A L L Y A D J U S T E D I N D E T E S OF T P I A L PRODUCTION TO (2) THE CORRESPONDING INDEXES OF C A P A C I T Y . I N P U S T P I A L !mE?!A7.S AI?* IT'IS BOTH ^CniJCSD Al»n U S E D »S i\PUTS 3 Y M A N U F A C T U R I N G P L A N T S , SINES A N D UTILITIES; I N D U S T R I A L M A T E R I A L S COVER M A N Y O F THE ITEMS R E P R E S E N T E D I N THE P R I M A R Y PROCESSING GP.OUPTNG OF H A N D F A C T U F T N G AS NEIL AS SOME OF THE OUTPUT OF MINES AND U T I L I T I E S — SUCH AS nCM OPE, CRUDE OIL, AN^ ELECTRICITY SOLD TO INDUSTRY. THE 1973 HI^HS AND 1975 LOWS IN CAPACITY UTILIZATION, SHOWN IN THE T A B L E S ABOVE, APE 5??ECTF!C TO T?.\CH S E R I E S AND MAY nCCfTR TH D I F F E R E N T MONTKS. I N D U S T R I A L PLANTS USUALLY O P F R A T E AT C A P A C I T Y ' J T I L I Z A T I O V * A T E S T H A T * P E W?IL T - I?ZLOW 100 P S P f T S N T ; NOTTF OF THE BPOAD AGGP.2GATS SERIES HAS EVER INDICATED A 100 P E R C E N T HSE OF C A P A C I T Y . C A P A C I T Y U T I L I Z A T I O N F A T ^ S A V E R A G E A B O U T R 3 PERCENT FOR M A N U F A C T U R I N G FROM 1955 THROUGH 1978, AND ABOUT 85 PERCENT FOR I N D U S T R I A L 1ATERHLS FOR 1<>67 T H ? c m H 1973. I" M A N U F A C T U R I N G A3 A HHOLE, UTILIZATION RATES AS H I G H i? 90 PERCENT H A V E B E E N EXCFEDFD OSLY TN W A P T I 1 E . THE P E A K R A T E S OF M T T _ LIZATION IN 1973 H E P E ASSOCIATED IITH SIGNIFICANT D P R A R D PP.2SSJRE ON PRIG'S. THE METHODOLOGY ftND THE SERIES ARE DESCRIBED IN FED?P.AT, SESEDVE HEASUPES OF CA.PACIT* A»?n C A P A C I T Y U T I L I Z A T I O N . pi-VTSFD ARE FOUND IN "CAPACITY U T I L I Z A T I O N : M A N U F A C T U R I N G AND M A T E R I A L S , J A N U A R Y 1967—DRCEH3F.I? 1 7 - . : i T " h O l i f T n i j y . T C A T I O N ' S «!AY TATNE^ FROM PUBLICATIONS SERVICES, BOARD OP GOVERNORS OF THE F E D E R A L R E S E R V E SYSTEM, W A S H I N G T O N , D . C . 205 C .1
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