View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE statistical release
G.3 (402)

For immediate release
March 17, 1980
CAPACITY UTILIZATION: MANUFACTURING AND MATERIALS
February 1980

Manufacturers operated at 84.2 percent of capacity in February, the
same as in the preceding two months and 2-1/2 percentage points below the
rate a year earlier. Producers of industrial materials operated at 86.1
percent of capacity last month, down 0.2 of a percentage point from the rate
in January and 1.7 percentage points from a year earlier.
Within manufacturing, the utilization rate for primary processing
industries declined 0.6 of a percentage point in February, and the rate for
advanced processing industries rose 0.2 percentage point. The increase in
the operating rate for advanced processing industries was accounted for by
a partial rebound in the rate for the motor vehicles and parts industry.
Operating rates for most other manufacturing industries either declined or
changed little in February.
There were widespread declines in the utilization rates for producers
of industrial materials. The operating rate for producers of durable goods
materials remained at 83.6 percent in February due to a further decline in
the output of steel and an increase in the output of parts used to produce
consumer durable goods such as automobiles. The rates for nondurable goods
materials and energy materials declined by about 0.5 percentage point to
.90.0 percent and 87.0 percent of capacity, respectively.

MANUFACTURING

INDUSTRIAL MATERIALS
PERCENT

100
TOTAL

80

60
100
NONDURABLE GOODS

PRIMARY PROCESSING

80

ADVANCED PROCESSING

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

_______

...

HONTHLY CAPACITY UTILIZATION

SERIES

1980

1973)
HIGHI

PSIHABY PROCESSING
A D V A N C E D PROCESSING

1979
FEB.

MAR.

_4£fi.._

fill

ifill

iS_I_

88.0)
1
1
93.8|
1
85.5)
1

H A N U F A C T U R I N G , TOTAL

1975
LOB
69.0

86.7

87.1

85.3

86.3

86.2

86.1

68.2

88.6

88.6

37.8

88.0

87.9

69.4

85.5

83.8

85.5

85.2

86.2

05?.

NOV.

DJC t

JA.HL

FEB.

84.9

85.3

84.9

84.6

84.2

84.2

84.2

88.9

87.7

87.3

86.8

8«5.5

84.6

83.3

84.2

85.9!
86.1
|
83.4
83.2
83.2|
I
UTILIZATION
1979
III
III

151.7

153.4

153.1

153.3

P R I 9 A R Y PROCESSING

162.2

162. 1

161.9

163.4

""" T
CAPACITY
|
1978 1979
JV|
IV
I
II
1
152.91 175.6 176.9 178.2
1
|
161.8) 181.2 182.7 184.2

A D V A N C E D PROCESSING

146. 1

148.7

148.5

148.1

148.1| 172.7 173.8 175.0

OUTPUT
1979
I
II

1978
IV

M A N U F A C T U R I N G , TOTAL

"

SJP.

" ~
J?l

83.9
1

4 II

179.5
185.7
176.2

I

IV!

1978
IV

86.7

83.4

. -II

85.4

84.6

87.9

88.0

86.5

84.8

84.0

83.5

1980
JAN.

FFB.

86.3

86. 1

83.6

83.6

86.4
180.3)
|
I
89.5
187.2)

86.7

85.9

88.7

177.4)
1

84.6

85.6

Industrial Materials
HONTHLY CAPACITY UTILIZATION
SERIES

19731
HIGHI
1
92.61
1
1
91.51
1
98.2)

M A T E R I A L S , TOTAL
D U R A B L E GOODS MATERIALS
HETAL HATERIALS

1975
LOB

197S
?§?•

. MA.H.

69.4

87.8

94.5J
1
95.1|
1
92.61
99.4J
95.5|
1
1
94.6]

TEX., P A P E R , 6 CHBH. HAT.
TEXTILE HATERIALS
PAPER HATERIALS
CHEHICAL HATERIALS
ENERGY HATERIALS

1

_L
1978
IV

HATERIALS, TOTAL

87.0

87.4

87.6

87.9

86.9

86.8

86.6

63.6

87.0

87.5

85.4

86.3

86.9

87.3

85,.5

85.2

84.7

88.2

90.6

88.2

87.0

90.4

92.4

89.8

88.4

85.1

67.2

89.9

90.0

89.6

89.8

89.2

89.6

90.0

90.1

90.1

65.3

90.1

90.0

90.0

90.2

89.9

90.2

90.1

91.1

91.0

57.9
72.4
64.2

85.8
92.5
90.6

86.8
93.9
89.8

85.3
34.3
90.1

86.5
93.6
93.2

89.4
94.1
89.1

88.8
97.3
88.8

87.5
97.4
89.8

90.3
98.1
89.7

90.0
98.2
89.5

84.8

86.7

87.5

87.2

86.6

86.8

87.1

ft6.1

86.2

OU'rPUT
1979
I
II

III

155.5

155.6

156.6

158.4

157.7

158.7

124.7

124.3

126.9

170.3

172.2

173.4

175.7

177.1

179.1

161.3

184.3

119.5
138.1
218.0

118.2
136.9
222.7

119.6
140.7
224.8

122.4
147.0
226.6

128.9

127.9

128. 1

128.3

NOTE:

86.3

88.3

TEX. , P A P E R , £ CHEH. HAT.

1

87.2

OCT.

N O N D U R A B L E GOODS HATERIALS

BNBRGY HATERIALS

87.3

SEP.

132.2

TEXTILE HATERIALS
PAPER MATERIALS
CHEHICAL flATERIALS

88.0

A.U G.

157.3

METAL MATERIALS

88.2

JUL.Y

154.6

DURABLE GOODS HATERIALS

1978
If

1
DEC.!
|
86.4
86.0)
|
1
83.9
83.1)
1
84.7
84.2)
1
1
90.4
90.5|
1
91.0
91.3|
|
89.5|
89.2
97.9
97.5)
89.8
90.3|
|
|
87.01
87.2
1
UTILI ZATIOI
1979
I
II

JUNE

68.6

i
I

N O N D U R A B L E GOODS HATERIALS

,

A P R . HAY

|
|
1978
IVI
JV
I
156.3) 175.4
1
1
156.1) 180.1
1
119.5) 139.6
|
|
178.2) 190.2
1
187.0) 197.9
1
123.7) 136.6
148.41 147.8
230.4) 244.6

CAPACITY
1979
!_
JI

86.3
I
1

III

176.7

178.1

179.5

181.5

163.0

184.5

139.8 140.3

1
181.0)
I
I
186.0|
1

140.7

191.7 193.5

195.3

199.4 201.3

203.2

136.9 137.3
148.6 149.6
247.2 250.3

137.7
150.6
253.3

1
129.5) 145.7 146.7 147.5
I

148.3

NOV.

83.2
90.6

90.0

91.0

90.4

88.8
96.0
90.3
87.5

III

87.0

IV

1
1
197.3)
1
205.3)
|
138.1)
151.6)
256.3|
1
149.2)
j

87.4

87.3

86.2

86.0

83.9

94.7

89.2

88.5

90.2

84.7

89.6

89.8

89.6

89.9

90.3

89.5

89.8

90.0

90.7

91.1

87.5
93.5
89.1

86.3
92.1
90.1

87.1
94.0
89.8

88.9
97.6
89.5

89.6
97.9
89.9

88.5

87.1

86.9

86.5

86.8

ESTI HATES OF ACTUAL OUTPUT AND CAPACITY OUTPUT ARE BOTH EXPRESSED AS PERCENTAGES OP 1967 ACTUAL OUTPUT. ESTIMATES OF
CAPACITY UTILIZATION IN PERCENT ARE CALCULATED AS RATIOS OF (1) THE FEDERAL RESERVE'S SEASONALLY ADJUSTED INDEXES OF INDUSTRIAL PRODUCTION TO (2) THE CORRESPONDING INDEXES OF CAPACITY.
INDUSTRIAL HATERIALS ARE ITEMS BOTH PRODUCED AND USED AS INPUTS BY MANUFACTURING PLANTS, BINES AND UTILITIES; INDUSTRIAL MATERIALS COVER HANY OF THE ITEHS REPRESENTED IN THE PRIMARY
PROCESSING GROUPING OF HANUFACTURING AS BELL AS SORB OF THE OUTPUT OF HINBS AID UTILITIES — SUCH IS IRON OBE, CRUDE OIL, AND
ELECTRICITY SOLD TO INDUSTRY.
THE 1973 HIGHS AND 1975 .LOWS IN CAPACITY UTILIZATION, SHOWN IN THE TABLES ABOVE, ARE SPECIFIC TO BACH SEBIBS AND HAY OCCUR IN
DIFFERENT HONTHS. INDUSTRIAL PLANTS USUALLY OPERATE AT CAPACITY UTILIZATION BATES THAT ABB iBLL BELOW 100 PERCENT; HONE OF
THE BROAD AGGREGATE SERIES HAS EVER INDICATED A 100 PERCENT USB OF CAPACITY.
CAPACITY UTILIZATION BATES AVERAGED ABOUT 83
PERCENT FOR HANUFACTUPING FROM 1955 THROUGH 1978, AND ABOUT 85 PERCENT FOB INDUSTRIAL HATBBIALS FOB 1967 THROUGH 1978. IN
HANUFACTORINS AS A WHOLE, UTILIZATION RATES AS HIGH AS 90 PBHCEIT HAVB BEEN EXCBEDBD ONLY II IARTIHB- THE PEAK RATES OF UTILIZATION IN 1973 HERE ASSOCIATED WITH SIGNIFICANT UPBARD PRESSURE 01 PBICBS.
THE METHODOLOGY AND THE SERIES ARE DESCRIBED IN ESfiSBAt &fi£B.gV2 BBASUBBS OF £AE1£HI AJLB CAPACITY UTILIZATION. REVISED DATA
AR2 FOUND IN "CAPACITY UTILIZATION:
HANUFACTURING AND HATBRIALS, JANUARY 1967--DBCBHBER 1978." BOTH PUBLICATIONS HAY BB OBTAINED FROM PUBLICATIONS SERVICES, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, iASHINSTON, D.C. 20551