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FEDERAL RESERVE statistical release For immediate release December 16, 1982 G-3 (402) CAPACITY UTILIZATION: MANUFACTURING AND MATERIALS November 1982 Capacity utilization in manufacturing fell 0.5 of a percentage point in November to a postwar low of 67.8 percent,, Producers of industrial materials operated at 66.7 percent of capacity, down Q«5 of a percentage point from the October rate to another series low* Within manufacturing operating rates declined 0.5 of a percentage point in both the primary processing and the advanced processing industries, to 65.4 percent and 69.1 percent, respectively. After a relatively flat period during the summer, total manufacturing utilization has declined somewhat faster in recent months, mainly as a result of sizable production cutbacks by industries manufacturing business equipment, and autos and trucks. Capacity utilization in the iron and steel industry has continued to decline markedly in recent months, at about the same pace as in the summer. The November operating rate for total materials was more than 2-1/2 percentage points below its low in March 1975. Producers of durable goods materials operated at 59.8 percent of capacity in November, down 0.8 of a percentage point since October, and 4.3 percentage points below the rate in March 1975. Although the operating rate for-nondurable goods materials production decreased 0.3 of a percentage point in November to 72.5 percent, it remained well above its March 1975 cyclical low. The rate for energy materials production dropped 0.6 of a.percentage point in November to 77.3 percent. 1970 INDUSTRIAL MATERIALS MANUFACTURING PERCENT 1.00 ENERGY TOTAL 80 60 100 NONDURABLE GOODS PRIMARY PROCESSING 80 60 1973 1976 1979 1982 1973 1976 1979 1982 OUTPUT, CAPACITY AND CAPACITY UTILIZATION Output and Capacity are Percentages of 1967 Output; Capacity Utilization is a Per Cent of Capacity. Seasonally Adjusted Manufacturing aOHTHLX CA&ACI2I OTIXIZAIIOM 1982 SERIES -mi^-kMs~ 73.1J 71.1 72.*2 71.6 ,70.8 70.2 70.0 P 1 I M B X PJCCgSSIHG 69.61 68.5 70.Q 68.6 67.2 66.1 ADVABCBD PBOCISSIBG 75.0! 72.8 73.6 73.2 72.6 72.5 BABOFACXOBIBG,-- SQTML MAMOPICTOSIMG, TQSAL 1981 O02P0X 1982 152.5 I 145.01 139.8 1 155.8 SBXBABI P1CC1SSXBG 143.5| 137.1 1 145.81 141.6 150.7 AJWABCBD PBOCESSXIG 1 1 1981 70.0 69.8 65.7 65.7 72.3 72.3 I 1 1981 C&PACXXX 1982 1 ~~~ 1 I 137.71 1S2.4 193.9} 195.2 196.4 197.71 7.9.3 I I 1 1 8 1 132.5! 196.3 I91*5| 198.6 199.5 200.41 79.4 138.1 132.3 1 141.2 I 140.51 490.4 69.2 68*3 66.1 66.5 65.9 65.4 71.7 70.7 69.6 6S.1 70«3 69.7 66*3 66«! flSXLIZAIIGH 1962 £2— -JL- 1 74.8J 71.6 I ! 72.71 69.1 1 192.0J 193.5 194.9 196.21 I 73.2 75.91 73.2 72.5 71.£ Industrial Materials S1BISS 1973! i H l - I l i X l L S , TOTAL 92.6| BBTIL iATifilALS MOIDHBABLE GOODS HAI1BI1XS 2 £ X « , P A P I B , & CHB1. HAT. BIBBSX MATERIALS I ! I 92.61 99.41 95.51 J 57.9 | 75.5 72.0! 72.4 | 92.3 86.5| 64*2 | 72.4 69.0! 1 1 84.8 ) 82.2 81.6! ., , 1 i 1 I 94.6| 198! . 154.3 144.01 138.7 1 152.8 HOTls 72.21 OUTPUT 1982 IV I 140.2! 130.9 ! 114.2 99.5| 1 8 HOHDOBABLB GOODS HATEBIALS 1 175.8 164.51 XBX«, PAPEB, S CBBH» MAI. i 182.8 169.41 • E 115.5 106.81 TEXTILE flAIBBIALS } 152.2 147.0} I 224.9 206.2J CHSBICIX BATEBIAXS 1 1 I 131.6 !27.9« m%hL HATEBIALS 72.4! 65.3 \ 75.9 j DOBABLE GOODS MA2BBIALS 1 95.1! J H1SBBIALS, TOTAL 69.4 ; 75.5 AOG SIP OCi. 71.8 70.5 69.4 68.8 66.5 6S.2 67.8 67.2 67.4 66.4 65.0 64.2 64.0 63.7 63. 1 62. I 60.4 64.7 61.1 56.2 53.9 52.2 50.7 51.2 51.$ 5H.4 76.5 75.3 74.4 72.5 70.S 70.2 1 71.0 72.7 72.8 72.5 70.7 74.4 73.7 72.5 70.6 63. S 63.0 70.5 70.9 70.7 68.6 87.6 67.4 71.9 90.7 71.3 73.5 89.4 70.2 73.4 87.4 69.0 71.5 84. 1 66.9 69.6 85.3 65.0 69*8 72.6 63^7 65® 9 74.3 89.7 66.0 83.2 81.8 80.2 79. 9 79.8 80.0 77. 0 77.9 77.3 69.6 68.2 72.9 71.4 1 1 91.5| 63*6 1 72.2 68.5J 66.2 1 68» 6 ! 70.8 65.51 65.8 98*31 1 ! 11 i 94.5! 67.2 [ 77.3 74.!| 73.2 DOUBLE GCODS HIXEJXILS XBXTXIB BA2EBIALS PIPES MAT BHALS CHUSICAL HATEBIALS flOMTHXX C^PACIXX 0SILIZAIIO3 1975 I 1981 1 1982 t>BCvJ JAH. FEB. SUu APB» 134.7 83.7 1981 CAPACI2X 1982 IV I 1 132.71 190.3 1 192.6 1 1 1 124.8! 194.2 1 73.01 141,9 1 193.7 194.6! 1 197.3 1 j 195.31 196.4 1 142. 1! 142.3 8 1981 III 81.1 63.0 51.3 77.21 75.0 72.6 71*3 82.5 75.71 72.9 7©.6 63,2 81.8 94.1 60.0 75.4| 71.3 90.3| 89.2 72.5{ 6S.6 1 1 82. IJ 82.9 8ol3 71.5 88.0 64.5 79.9 7J.J 161.0 156.8 155.0| 211.2 213.11 214.6 216.1 164.5 160.5 158.21 221.7 223.91 225.6 227.3 228.81 141.61 162.8| 284.4| 1 1 155.8! 142*1 163.8 287.3 142.4 164.6 289.6 156.5 157.0 142.81 165.4! 291.9! 1 1 157.61 • 129.8 125.5 102.2! 145.61 188.31• 1 1 124.0! 14.1.0 161.9 281.0 155.0 IV I 1 75.21 72.0 1 54.1 198.3! 78»7 1 142.3! 00.5 1 1 217.4| 83.3 101.3 101.8 146. 1 142.0 200.0 194.0 UTIXIZAZIOli 64.4 77.0 142.4 79.0 71.8! 66.7 1 70..IJ 63.9 1 1 90.9 127.1 72.3 66.7 84.9 —L, ESXXHATES OF ACTUAL OOTPQS &HD CAPACISX OUTBUI ABE BOTH BXPBSSSSD AS PBBCEHSAGES OF 1967 ACTOAX OGSPOT. 1S2IHAT1S Of C&FACXT? UTJLIZATIOH IK PESCSMT AfiE CALCULATED AS BATIOS OF |l$ THE FSDEIAL JSSE£?EaS SIASOMAXXX ADJUSTED INDEXES QI I1DQSTB1AX P10D6CSI0H £0 £2) THI COfiBESPOMAIliG IHDEXES OF CAPACITX. IHDUS1BIAX HASEfilAXS M E ITBflS ECTH 2RQLUC2V AHD GS2D IS I!PQ2S Bl HAHOFACT0BIMG PLAMTS^ HIHES AKD UTILITIES; I8D0STBIAL eATBBIikXS CCVEB MA8X OF THE ITEHS 5EPJ3ESEBTE11 IH TfiE P R X M ¥ P1OCBSSIHG GJOOPIHG OF IA£l@flCT0fiII}G AS ^ELL AS SONS OF THE OOTFOT QI HIHES ABD 0TILISI1S -* SOCB AS 1MQU GfiB, CBODS OIL, IBS BLECTBICI3X SOLD 10 IHDOST.BX* THE 1973 HIGHS hEQ 1975 LOMS IH CAP£CIT¥ 0TI1IZATIOH* SHQUM IH TEE TIBXiS ABOVS« ABE SPECIFIC XO EACH SKSIES AHD MAX OCCOB IH DIFFE11HT HQMHS. IHDUSTBI&X PXAHTS GS01X.L? 0PBB1T1 IT CAPACITX 91IXI2A2I0H BATES THAT A&S KEXX BIXOH 100 PEfiCEBT; HCBS Cf THE BROAD AG61BG&T1 SMI1S dhS BVE£ IMSIC1T1D & 100 PEBCBHT 0S£ OF CAPACISX. GAPACI2X 0TILI2AZIOH BA1ES AVE5AGED ABOOT 83 P1BCEHT FOB H1N0FACS OHIHS I BOH 1955 THBOOaM 1973., I9D 1BO0T 85 PS£CES1 fOS IKDOSTfilAX MATSSIAXS SCM 1S67 THBGOGH 1S7S. Jl HAS0F&C3UBIIG IS k MBOLE* 0TILIZA1IOH H I E S AS H!€B AS 90 PEBCEHS HAVE BEEM EXCEEDED O!iXX IH HABTIBE. THE PEAK £AXBS Of 0TI~ LIIM30M IM 1973 WEHE ASSOCIATED «ITH SI@HIFICAH!I OPiiABIi PBSSSOBE CH PJICES. l THE MESiC!ISOL43Sf AMD THI SEBIBS ASE DESCRIBED XM _ Sf filiACJESI IMU CAfAciai iZQi> REVISED DAIA Afil FOOMD IN ^CAPICITX OTILI^ADIOH: MAHOfACTOBISg AHD HAXBBIALS, JAKOAkiX 1967—DECESBEB 1978." BC2H PUfiLICASIOHS HA1 BE C5~ TMHEB FSOI POBLICAflOMI? SI1VICBS« BOASD QF G07EBH0BS OF THE FSDESAL £2JE£VB SiSTBB, HAJHIHGTON, D.C. 20551