Full text of G.3 Capacity Utilization, Manufacturing, Mining, Utilities and Industrial Materials : June 17, 1981

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FEDERAL RESERVE statistical release
For immediate release
June 17, 1981

G.3 (402)

CAPACITY UTILIZATION: MANUFACTURING AND MATERIALS
May 1981

Capacity utilization rates for manufacturers and for producers of
industrial materials changed little in May, Both rates rose 0,1 percentage
point from April, to 80.1 percent for manufacturing and to 81.0 percent for
industrial materials production. In May, the rate for manufacturers was about
the same as in January, while the rate for materials producers was somewhat
lower because of a sizable decline in April.
Among manufacturers, the rate for primary processing industries
declined 0.1 percentage point in May to 80.5 percent, and the rate for advanced
processing industries rose 0.2 percentage point to 79.9 percent. For the third
consecutive month the utilization rate for the motor vehicles and parts industry
increased sharply, although it is still much below its average over the 1976-79
period. More moderate increases occurred in the operating rates for producers
of textile mill products and rubber and plastics products. Operating rates
declined substantially for producers of primary metals and petroleum products;
moderate declines occurred for producers of stone, clay, and glass, and foods.
The rate for petroleum refineries has fallen about 6-1/2 percentage points since
last December,
Producers of durable goods materials utilized 78.8 percent of their
capacity in May — up 0.1 percentage point from April. Production of parts for
consumer durable goods and business and defense equipment increased, whiJe metals
mining and raw steel output declined. The nondurable goods materials utilization
rate rose 0.3 percentage point to 85.7 percent, reflecting strength in output of
some textiles and chemicals. Energy materials utilization dropped 0.6 percentage
point to 79.7 percent, largely because of strike-related decreases in coal output.




MANUFACTURING

INDUSTRIAL MATERIALS
PERCENT
100

60
100
NONDURABLE GOODS

1969

1972

1975

1978

1981

1972

1975

1978

1981

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 UTILIZATION
SERIES

PRIMARY PROCESSING

19731
HIGHI
1
88.0|
1
1
93.81

ADVANCED PROCESSING

85.5}

MANUFACTURING, TOTAL

1975

I

SEP.

OCT.

NOV.

DSC

1981
JAN.

FE.B.

MAR.

APR.

HAY

75.5

76.7

78-2

79-4

1
79. 91

80.0

79.8

79.9

80.0

80.1

70.9

72.5

75.2

77.6

79.6

1
80. 8|

81.2

81.2

80-5

80.6

80.5

77.1

77.1

77.7

78.5

79.2

79.

79.5

79-1

79.6

7917

79.9

1980
MAY

JUNE

JULY

AUG.

69.0

77.6

75.7

74.9

68.2

75.8

72.7

69.4

78.6

77.4

OUTPUT
1 1980
j1
I
MANUFACTURING, TOTAL

152.8

143.9

HI
141.0

145.0

139.6

i 148.8 143.3

141.8

PRIMARY PROCESSING
ADVANCED PROCESSING

11

160.5

CAPACITY
19811
ij

JV

1980
I

148.71 151.31 183.3
1
I
1
1
153.11 157.31 188.5
1
1
146.4| 148.21 180.5

II
184.8

III
186.3

190.0

191.5

182.0

183.5

"I

1
19811
11
IV
1
187.8| 189. 31
1
1
1
193.01 194. 31
1
1
185.01 186. 61
I

UTILIZATION
1980
I

T£

83.4

77.9

III

1981
I

IV

1
75.7

79.2|

79.9

1
1
85.1

76.3

72.9

79.4|

82.5

78.7

77.3

79.11 79.4
1

1 1981
DEC! JAN.

PEB.

HAS.

81.3!
1

81.7

81.7

81.7

80.9

81.®
78.8

81.0

1

Industrial Materials
SERIES

1980
HAY

JUNE

JULY

AUG.

SEP.

OCT.

NOV t

69.4

78.3

75.7

73.7

74*6

76-4

78.4

80.4

91.5J

63.6

74.1

70.8

68.0

69.1

70.4

73.5

76.5

77.3J

78.0

78.2

78.9

78.7

98.31

68.6

70.0

67.0

58.4

62.2

63.9

71-5

81.4

81. 0| 82.0

83.2

84.1

81-1

67.2

81.8

78.7

76.8

78.2

82.7

84.4

81.3

!
86.3!

86.7

86.1

84.9

85.*

85.7
85.4

1
MATERIALS, TOTAL

MONTHLY CAPACITY UTILIZATION

1975
LOW

19731
HIGHI
92.6|

1
1
DURABLE GOODS MATERIALS
HITAL SATEBIALS

1
1

BAY

HONOURABLE GOODS MATERIALS

94.51

TEI.* PAPER, & CHEM. MAT.

95.11

65.3

81.3

77.1

74.5

76.4

81.6

83.8

83.7

85.9|

86.2

85.8

84.5

85.1

92.61
99.41
95.5|

57.9
72.4
64.2

84.5
90.8
78*3

81.8
91.6
72.7

82.0
88.1
69.6

79,. 5
90.2
72.5

82.0
93.9
78.7

82.1
93.0
82.1

80.7
94-1
82.0

79.84
94.2|
85.4|

79.8
93.7
85.9

79.2
94.8
85.2

78.2
94.9
83.6

79.193.8
8««4

94. 6 S 84.8

85-3

65.8

85.6

85,2

84.1

83.1

85.5

84* 6

85.2

84.8

80.3

TSITILE MATERIALS
PAPER MATERIALS
CHEMICAL MATERIALS

1
1
ENERGY MATERIALS

.1
1
?9»7

HONOURABLE GOODS MATERIALS

179-3

166.0

161.9

175.51 179.11 199.8

202.0

204.3

85.01
1
1
1981|
II
IV
1
J
187.21 188.71
«
1
I
191.5J 192-81
1
141.01 141.18
1
I
1
1
206.51 208.51

89.7

82.2

79.2

85-0|

TEX., PAPE1* 6 CHES* MAT.

187.5

17U9

165.6

182-7J 186.81 208.3

211.0

213.7

216.21 218.51

90.0

81.5

77.5

8«-5j

85.5

120.6
I 146.1
233»6

116.4
142.1
208.3

113.4
142.9
197.9

113.21 111.01 138.8
148.9§ 151.21 154.7
226.9j 234.61 260-4

139.2
156.0
264.6

139.6
157.4
268.7

140.01 140.31
158.8| 160.OS
272.98 276.4!

86.9
94.5
89^7

83.7
91.0
78.7

81-2
90*7
73.6

80.9J
93.8|
83.21

79.1
94.5
84.9

1

L
1980
I

MATERIALS, TOTAL
DURABLE GOODS MATERIALS
METAL MATERIALS

TEXTILE MATERIALS
PAPER MATERIALS
CHEMICAL MATERIALS
ENERGY MATERIALS
MOTE;

156.3

I

OUTPUT

1981|
II
145.1

III
139.2

155.0

140.6

131.5

117.1

100.6

86.6

| 130.8 130.0

IV

I

1980
I

149.81 154.1| 182.8
1
1
1
145.11 151.11 187.2
1
1
109.91 117.21 140.7
1
1

I
I
129.6

l\
1

CAPACITY
II
184.3

III
185.8

188.6

190.0

140-8

140.9

1
1

129.5J 130*8| 151.1

151.8

152.6

1
!

UTILIUTX®!
1980
I
85.5

IJ.

Ill

1

78.7

74.9

80.0}

1981
I
81.7

1
82.8

74.6

69.2

75-8J

78.4

83.2

71.4

61.5

78.Of

83.1

s
85.9

I
S

JI

153.11 154.11

.11—

86.6

85.6

85.0

84. 61

84.9

ESTIMATES OF ACTUAL OUTPUT AND CAPACITY OUTPUT ARE BOTH EXPRESSED AS PERCENTAGES OF 1967 ACTUAL OUTPUT- ESTIMATES OF
CAPACITY UTILIZATION IN PERCENT ARE CALCULATED AS RATIOS OF (1) THE FEDESAL IESIRVE«S SEASONALLY ADJUSTED INDEXES OF INDUSTRIAL PRODUCTION TO (2) THE CORRESPONDING INDEXES OF CAPACITY. INDUSTRIAL MATERIALS ARE ITEMS BOTH PRODUCED AMD USED AS INPUTS BI MANUFACTURING PLANTS, SINES AND UTILITIES! INDUSTRIAL MATERIALS COVEB MINI OF THE ITEMS REPRESENTED IN THE PRIHARY
PROCESSING GROUPING OF MANUFACTURING AS HELL AS SOME OF THE OUTPUT OF HIKES AND UTILITIES — SUCH KS IfiON QBE* CBUDE OIL* AMD
ELECTRICITY SOLD TO INDUSTRY.
THE 1973 HIGHS AND 1975 LOIS IN CAPACITY UTILIZATION, SHOWN IN THE TABLES &8OVE, ARE SPECIFIC TO EACH SERIES AND HAY QCC0H IN
DIFFERENT MONTHS. INDUSTRIAL PLANTS USUALLY OPERATE AT CAPACITY UTILIZATION SATES THAT ARE BELL BELOW 100 PERCENT? NONE OF
THE BROAD AGGREGATE SERIES HAS EVER INDICATED A 100 PERCENT USE OF CAPACITY™ CAPACITY UTILIZATION HAT2S AVERAGED ABOUT 8 3
PERCENT FOR MANUFACTURING FROM 1955 TH100GH 1979, AND ABOUT 85 PERCENT FOB INDUSTRIAL MATERIALS FOR 1967 THROUGH 1979. IN
H&NUFACTUBIHG AS A WHOLE, UTILIZATION RA1ES AS HIGH AS 90 PERCENT HAVE BEEN EXCEEDED ONLY IN WARTIME. THE PEAK RATES OF UTILIZATION IN 1973 WERE ASSOCIATED WITH SIGNIFICANT UPWARD PRESSURE ON PRICES.
<
THE HETHQDOLOGI AND THE S H I E S ARE DESCRIBED IN fJDBRIL H E S E g H MEASUfiJS OF CA£ACi£Y AND CA£ACITY UTILIZATION. REVISED DATA
ABB FOUND 18 "CAPACITY UTILIZATION: MAOTFICTURING ABD MATERIALS* JANUARY 1967—DECEMBER 1978." BOTH PUBLICATIONS MAY BE OBTAINED FEOM PUBLICATIONS SERVICES, BOABD OF GOVERNORS OF THE FEDERAL RESEfiVE SYSTEM, SASHINGTOH, D.C. 20551