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FEDERAL RESERVE statistical release
G.3 (402)
For Immediate release
CAPACITY UTILIZATION
Manufacturing, Mining, Utilities, and Industrial Materials
May 16, 1984
Capacity utilization in manufacturing, mining and utilities rose
0.9 percentage points in April to 81.9 percent, the highest rate since March
1980. The April level was more than 12 percentage points above the low in
the 1982 recession, but it remains significantly below the highs reached in
1973 and 1979.
Capacity utilization in manufacturing rose 1.1 percentage points
to 82.3 percent and the gains were widespread among industries. In contrast,
the rate for mining edged downward in April to 74.3 percent of capacity as
operating rates declined in coal mining and remained low in oil and gas well
drilling and metal mining. Utilities operated at 83.2 percent of capacity,
the same as in March.
Manufacturers of durable goods operated at 81.9 percent of capacity
in April, up 1.3 percent from March, despite a substantial decline in the
rate of auto assemblies. The operating rate for nondurable goods rose 0.7
percentage point to 82.7 percent of capacity as the rate for petroleum products
rose 2 percentage points.
The operating rate for producers of industrial materials rose one
percentage point in April to 83.3 percent, equal to its 1967-1982 average.
Since its low in late 1982, this rate has risen 16.7 percentage points in
part reflecting a 27 percentage point increase in the utilization rate for
metal materials.
Capacity Utilization: S u m m a r y
Percent of capacity, seasonally adjusted
Series
1973
HIGH
1975
LOU
1978
-80
HIGH
1982
LOW
1967
-82
AVEH.
1984
JAN |
FEB
j
NAB
|
APR
63.4
71.1
87.3
69.6
82.4.
80. 1
80.8
81.0
81.9
Manufacturing
Durable
Nondurable
67.9
87.9
89.1
69.0
67.6
71.0
87.5
89.4
87.2
68.8
64.8
73.8
81.8.
80.5.
83.9.
80. 1
79.3
81.1
81.0
80.2
82.0
81.2
80.6
82.0
82.3
81.9
82.7
Mining
Utilities
91.8
94*9
86.0
82,0
90.4
86.8
69.6
79.0
86.5.
88.6.
75.4
84.8
75.1
82.6
74.5
83.2
74.3
83.2
92.6
69.3
88.9
66.6
83.3.
80.6
82.0
82.3
83.3
Total Industry
Industrial Materials
!
CAPACITY UTILIZATION
APRIL DATA
SEASONALLY ADJUSTED, PERCENT
110
TOTAL INDUSTRY
70
50
110
MINING
90
^^^SS^/%VA\
UTILITIES
V
MANUFACTURING
70
i
50
i
! i
MM
''I
110
MANUFACTURING
REFINED PETROLEUM
PRODUCTS
^A.
jv^NONDURABLE
90
Cj
\
/
t
•Jf
\/
^
1
DURABLE
70
V
j
i
•
t
!
i
,
:
,
1
i
i
i
!
i
i
i
1
i
! .
i
i
i
I
50
i
'
i
l
i
l
i
I
I
!
i
!
i
!
I
!
!
110
MOTOR VEHICLES
AND PARTS
50 —
1 1 ! 1i
1969
1972
1975
1978
1981
30
1984
1969
1972
1975
1978
1981
1984
MANUFACTURING, MINING AND UTILITIES
TabS® 1
€ap@©H3f Utilization
Monthly, seasonally adjusted, percent of capacity
1973
Series
HIGH
1975
1S78
1982
1967
LOW
-80
LOS
-82
A? FR_
Tots! Industry
88.4
Manufacturing
87.9
Primary processing
Advanced processing
Durable manufacturing
Stone, clay and glass products
iron and steel, subtotal
Nonferrous metals, subtotal
Fabricgted metal products
Nonelectrical machinery
Electrical machinery
Motor vehicles and parts
Autos
Aerospace and misc. trans, eqp.
Instruments
Nondurable manufacturing
Foods
Textile mill products
Paper and products
Chemicals and products
Petroleum products
Rubber and plastics products
Mining
Utilities
Electric utilities
¥EAR
AGO 1I
MOMTHJ
1983
|
APB
80.1
80.8
81. 9
80.1
81.0
8U2
82.3
80.5
79-9
82.0
80.5
82,3
80.7
83*2
81.7
80.2
79. 1
72.3
81.2
73.7
73.7
91.5
86.5
83.7
73.1
77.5
80.6
79.0
71.5
81.8
74.9
74.2
91.9
86.3
84.5
73.0
78.1
81*9
7eloi
79.3
77.9
67.6
77.8
73.4
73.0
90.1
87.1
83.6
71.7
77.3
76.2
75«6
94.2
84.9
79.2
74.1
79.4
1
80.7|
78.03
88.95
95.7|
70.61
71.1!
92161
81.1
78.7
38. 1
96.8
70.5
73.9
93.2
82.0
78.8
87.1
98.8
71.8
79.5
93,3
82.0
82.7
87.4
97.9
71.8
79.9
94.3
71*1
87.3
69.6 {
82.4
73.1
77.3
78.2
78.7
73. 7
87.5
68.8
81.8
72.9
77.3
78.4
78.9
78.8
78.9J
AUQ
j
SEP i
OCT. |
NOV J
84.0 | 73.4 j
30.6
72.5 !
78.1
76.9
79.7
77.8
80»4
77.9
80.0
78.0
80.5
69.7
89.4 } 6 4 . 8
87.9 § 67.6
78.4
63*0
69.1
88.0 | 6 4 . 0
'90*4
57.0
38.8
82.3
103.3 | 69.2
97.5
73.6
99.0 | 6 0 . 8
98.2 1 6 2 . 1 | 83.8
60.7
65.0
79.6
90.0
86.3 i 6 5 . 7
61.6
79.8
62,9
88.3 | 7 1 . 8
83.1
74.7
80.0
79.3 |
90.6
88.7 i 6 2 . 3
65.0 1
4 6 . 1 | 78.6
98.7 | 51.3 | 94.5
61.2
35.8
NA
91.6
NA I NA
78. 1 j 68.2
93.9
69.1
76.0 i 6 8 . 0
72.6
89.6 | 73.7 | 92.3 I 73. 1 { 83.5
74.6
73.6
62.5
73.9
70.6
68.5
83.8
75.3
78.6
68.3
75.1
76.0
75.3
65.1
76.0
71.3
68.8
86.5
78.9
80.5
68.7
75.9
76.5
75.3
70.2
77.5
71.0
69.1
87.5
79.0
77.2
69.6
75.5
76.8
75.6
66.0
77.7
71.7
70.0
88.0
80.2
77.1
70.6
75.4
66.2
91.4
85.9 | 70.0
68.2
| 69.4
37.2
85.2
91.3
95. 1
83.6
93. 0
91.5
89.1
85.7
95.4
96.7
86.2
99. 1
97.4
|
|
|
|
|
j
|
91.8
I
| 86.0 j 90.4
71.0
77.2
61.3
69. 1
65.9
84.6
62. 1
|
|
!
|
|
79,21
78.61
1
77.5|
76.01
61.9J
80.5|
72-0|
70.9!
88.4 1
83.31
7 ill!
! 73.8
83.9
| 76.5
83.3
73.0 1 86.2
| 84.2 1 89.6
| 6 4 . 0 | 78.7
71.5
89.6
| 74.0
88.3
76.9
77.5 |
83.6 |
89.1
68.2 |
73.9
84.1
80.8
79.6
90.3
95.3
71.2
76.0
90.9
81.5
78.8
91.2
96.3
72.2
77.3
92.0
81.8
78.3
91.2
96.8
73.4
76.5
91.9
81.3
77.9
89.4
97.0
72.3
77.8
91.3
| 69.6
67.5
i
70.2
7C.8
71.5
73.2
74.71
75.4
75.1
74.5
74.3
83.0
81.7
85.71 84.8
84.7 1 84.0
82.6
81.0
83*2
81,7
83.2
81*7
I
1984J
1983
86.5
80.9 I
| 8 2 . 0 ! 86.8 | 7 9 . 0 1 38.6
| 8 2 . 1 | 87.0 | 77.9 I 89.8 l 80.1 |
94.9
97.6
HAH 3
81.0
i 69,0
1
93.7
85.5
1984 „
JAB 8 FEB \
DEC i
I
79. 1J
|
85.0
84.5
84.8
83.9
83.3
82.1
1
81.9
Table 2
Output, Capadty, and Capacity Utilization
Quarterly, seasonally adjusted
Series
O0TPUT
1983
CAPACITY
!
Total Industry
138.5
144.5
151.8
Manufacturing
138.4
145.2
152.8
137.0
139.7
145.2
145.1
152.8
152.8
Durable manufacturing
Stone, clay and glass products
Iron and steel, subtotal
Nonferrous metals, subtotal
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Motor vehicles and parts
Autos
Aerospace and misc. trans, eqp.
Instruments
124.2
131.6
63.4
102.3
110.6
137.6
170.7
120.0
101.4
97.9
154.0
131. 1
139.7
69.2
111-2
116.4
146.2
179.9
130.7
109.5
98.1
155.7
139. 1
148.5
75.0
110.9
125.4
156.6
191.1
145.8
132.3
99.2
161.5
1984|
1983
I
U
J
1
155.5j 159.8| 194.6
•
a
156.5| 161.21 195.7
1
156.4| 160.7| 194.3
156.1| 161.8J 196.5
1
143.81 150.3J 184.7
152.81 159.6| 199.6
79.2|
83.7J 120.1
116.6! 119.11 148.4
128.2) 1 3 3 . 1 | 176.9
161.8| 171.4J 226.7
200.0| 2.09.31 222.4
154.2J 165.81 193.7
132.11 141.7J 167.8
103.01 106.9| 143. 1
163.51 168-91 213.0
i
Nondurable manufacturing
Foods
Textile mill products
Paper and products
Chemicals and products
Petroleum products
Rubber and plastics products
159.0
153. 1
129.5
156.9
201.9
113.3
264.1
165.5
155.7
139.3
160.5
211.4
122.5
288.3
172.7
159.1
147.6
168.0
220.9
124.2
304.6
174.8J
157.51
146.5J
171.2J
225.01
121.1!
311.4|
Mining
116.7
112.3
116. 1
Utilities
Electric utilities
163.6
185.2
169.6
192.5
178.2
203.6
121.01 124.31 165.2
i
1
1 7 8 . 4 | 178.61 208.5
203.01 203.0J 239.2
;
I
Primary ^processing
Advanced processing
II
III
IV
176.8J
159.81
143,0!
174.5!
224.91
124.7|
319.71
211.7
197.2
163.6
175.9
304.1
163.8
336.0
II
III
IV
11
UTILIZATIOH
I
1984
II
I
III
I?
80.6
195.5
196.4
J
1
197.3| 198.31
71.2
73.9
77.3
1
78 . 81
196.6
197.5
198.4} 199.51
7a. 7
73.8
77.4
78.91
80.8
194.8
197.6
195.3
198.6
195.8! 196.4|
199.7J 20U0J
70.5
71.1
74.6
73.5
78.3
76.9
79.91
7.8.21
81.6
80. 3
185.4
200.4
120. 1
148.4
177.6
223.1
224.1
192.7
167.8
144.2
214. 1
186. 1
201.1
120.1
148.4
178.3
229.6
225. 7
191.7
167.8
145.2
2 15. 1
186.8J
201.91
120. 11
148.41
179.0!
231.01
227.41
190.7J
167.8|
146.3!
216.21
187.7|
202.91
119.0J
148.4|
179.8|
232.7J
229.51
190.91
168.7!
147.2|
217.51
67.2
66.0
52.8
68.9
62.5
60.7
76.8
62.0
60.4
68.4
72-3
70.7
69.7
57.6
74.9
65.5
64.1
80.3
67.8
65.2
68.0
72.8
74.7
73.8
62.5
74.7
70.3
68.2
84.7
76.1
78.8
68.3
75.1
76. 91
75. 7 J
66.0|
78.61
71,6!
70-Of
88.01
80.8|
78. 7 j
70.4|
75.61
80.0
78.7
70.5
30.3
74.0
73.6
91.2
86.8
83.9
72.6
77.6
212.8
198.7
163.4
176.4
306.S
163.0
336.8
213.9
200.2
163.2
176.9
309.4
162.1
337.7
215»01
201.7!
163.0!
177.4|
312.11
161.31
338.5J
216.4|
203. 1J
163.3!
178.2!
315.0$
160.4)
34U4J
75.1
77.6
79.1
89.2
66.4
69.2
78.6
77.8
7.8.3
85.3
91.0
68.9
75.2
85.6
80.7
79.5
90.4
95.0
71.4
76.6
90.2
8U31 81.7
7 8 . 1 ! 78^6
89.81 87.5
96.5J 97.9
72. 1 I 71,4
75. 1| 77.8
9 1 . 9 | 93.6
!
75.0
73.1!
1
83..5
0J|
82.2
884.
2-8
165.3
165.4
165.51 165.71
70.6
67.9
70.2
209.8
241. 1
211.1
243. 0
212.4J 213.81
244.9! 246.91
78.5
77.4
80*8
79.8
84.4
83.8
n
INDUSTRIAL MATERIALS
Table 3
Capacity Utilization
Monthly, seasonally adjusted, percent of capacity
1973
Series
HIGH
1978
-80
[ HIGH
1982
LO8
1967
-82
AVER.
TEAfi
AGO J .
flOHTH |
1^83 _
ACJG J SEP |
Industrial Materials
92.6
69.3
88.9
66.6
83.3
72.5
77.4
Durable goods materials
91.4
63.5
! 88.4
59.8
79.7
67.7
73. 6
75.2
76.1
76.5
«
-, JL,
DEC |
1
79.61
1
I
77.01
78 . 5
80.4
80.9
82.2
68.0
67 . 3
70.9
71.7
73.3
70 - 0
79 . 8
74.0
82.0
72.6
84.3
1975
LOW
OCT |
HOT |
78.6
79.5
79.6
1984
JAN 1
FEB 1
HAH |
APS
80 . 6
82.0
82.3
83.3
i
Metal materials
Raw steel
Aluminum
97.8
107.1
96.8 j
Nondurable goods materials
Textile, paper, and chemical materials
Paper materials
Chemical materials
94.4
68.0
95.4
46.2
59.9
64.0
65.5
66.8
6 6 . 81
68.0
73.4
3102.9
S7.9
40.2
57.9
I 84.8
90.6
56.9
60.5
61.0
71.2
63.3
73.6
67.5
75.1
68,6
76.0
67.4
! 91.7 ! 70*7 | 86.5
I
92.3 | 6 8 . 6 , 86.5
77.2
I
81.1
82.9
84.1
83.8
76.4
|
80.5
82.6
84.1
83.7
91.0
72.6
I
|
96.9
75.5
99.0
77.8
99.4
79.7
101.3
79.0
82.8
81.6
81.4
81.8
7 3 . 8)
79.0 8
J
!
81.69
1
81.2|
1
98.8|
76.29
!
1
83.6|
95.1
65.4
99.4
95.5
72.4
64.2
9 4 . 5 ji 8 4 . 4
Energy materials
82.2
93.4
85. 1
I 97.9 } 86*3
64.0
91.3
I
| 88.9
1
78.9
88.5
78-5
1
81 . 9
83.2
83.9
84.7
81 . 5
83.1
83.7
84.4
99 . 3
76 . 7
99.0
79.0
98.3
79.8
84 . 4
34.2
83.7
83.8
1
J
Table 4
Output, Capacity, and Capacity Utilization
Quarterly, seasonally adjusted
Series
OUTPUT
1983
I
I I I
industrial Materials
134.8
141 . 7
149.9
.Durable goods materials
t25.2
134 . 7
144.2
78.6
84.9
89.3
Metal materials
Raw steel
Aluminum
Nondurable goods materials
textile, paper and chemical materials
Paper materials
Chemical materials
Energy materials
61.9
99.0
68.7
105 . 1
72.7
119.0
163. 7
171 . 7
179.1
169.3
179 . 6
188.0
149.9
204.7
153 . 4
219.4
162.8
227.8
122.2
121. 5
127.4
IV
1
154.3J
1
1
150.31
1
1984]
1983
1
11
1
192.3
158.9)
1
1
157.61 195.2
III
t92.9
193.4
195.6
196.0
140.2
139.9
139.a
119.1
167.7
118.8
167.7
217.8
218.8
219.6
193.9) 229.4
230.7
231.6
166.7) 165.3
237.5) 294.8
I
)
131.08 153. 9
ZwStoHKm. 7hi»retoas©o*mtams animate? of output, capacity, and capacity uMKz-atton for the
nylon's fo&torias, min*», and eleotrlc and gas utilities. Estimates of actual output m& ©apacity output »r» »xpr*»»«da® percentages of 1987 actual output. Estimates of capa&hy wtftteation
arc saiouiated as ratios, In percent, of the Federal Reserve's seasonally adjusted indexes of inaj$Wai production to the Indexes of capacity. The capacity Indexes are based on a variety of
data, Including capacity data in physical units, surveys of capacity growth and utilization rates,
and estimates of capital stock growth. Instead of a forme! definition of capacity the ©onoept of
practical capacity Is applied, which is the greatest level of output that a plant can maintain
within the framework of a realistic work pattern, taking account of normal dowsTtirne, and
assuming sufficient availability of inputs to operate machinery and equipment to p5a©e. When
the capacity Indexes for Individual industries are aggregated—for examp»» to total manufacturing— no explicit account is taken of possible general equilibrium constraints sa&h as emerging
industry bottlenecks.
Groupings. Estimates of capacity and industrial production for manwfaetwfr>§ mdustftes are
aggregated to primary processing and advanced processing mdu&trte», to durable and nondurable manufacturing industries, and to total manufacturing. The mining, mamife&tw'mg-, and
utilities estimates aggregate to the total index, industrial materials are items produced and used as inputs by manufacturing plants, mines, and utilities. Industrial materials toetode many of
the Items included in the primary processing grouping of manufacturing, as wet) as some of the
output of the advanced processing Industries, mines, and utMtte»~»ueh as fren ore, crude oH,
semiconductors, and electricity sold to Industry.
II
119.4
167.7
93.8)
97.3j
1
)
84.5)
82.8]
128.6) 137.6r
1
1
1
183.5)
1
193.2)
1
167.4)
235.0)
)
1
127.81
CAPACITY
166. 1
296.6
166.9
298.3
154.3
154.7
1
1984}
II
UTILIZATION
1983
I
II
I I I
70.1
73.5
77.5
64.2
68.9
73.6
139.6! 139.11
1
S
117.11
167l7i 167.7J
I
1
I
220.6) 221.8)
56.1
60.7
63.9
51.9
59.0
57.7
62.7
61.2
70.9
75.2
78.5
81.5
232.7|
J
167.7)
300.1)
1
1
155.3)
I¥
S
194.0| 194.7)
1
\
1
a
196.5) 197.*)
234.2]
I
168.5(
302.31
73.8
77.9
81.2
90.7
69.4
92.3
74.0
97.5
76.4
8
155.8J
79.5
78.7
82.3
IV
I
79.6)
I
1
76.51
67.2)
3
69.9|
76.7|
1
1
83.21
33.0J
i
99.8)
78.3J
1
i
82.3]
1984
I
81,6
80.0
70.0
72.2
62.0
83 .0
82.8
98.9
78.5
84.1
Perspective. The historical h$@Jts and lows in capacity utilization shown in th# tables above are
specific to each series and did not all occur in the same month, industrial plants usually
operate at oapa&fty utftizaticn rates that are well below 100 percent: none of the broad aggregates has ever reached 100 percent. For mining, manufacturing, and utilities as a who!®, and
for total mam*$a&tur»rtg, utilization rates as high as 90 percent have been exceeded only in wartime.
Revisions. The first estimates for a month are published about the 17th of the following month.
These estimates may revise in each of the next three months as new data become available.
After the fourth month no further revisions are undertaken until an annual or benchmark revision. The median of the revisions in the total manufacturing utilization rate between the first
and fourth estimate is 0.3 of a percentage point; that is, in about half of the cases, the absolute
value of the revision from the first to the fourth estimate is less than 0.3 of a percentage point.
Sources. The methodology used to estimate the series is discussed in New Federal Reserve
Measures of Capacity and Capacity Utilization, Federal Reserve Bulletin, July 1983. Revised
data from 1967-82 are included in the statistical supplement to the July 1983 capacity utilization release, which may be obtained from Publications Services, Board of Governors of the
Federal Reserve System, Washington, D.C. 20551.
Rounding. The rounding algorithms applied to the capacity, output, and utilization rate series
are independent. Aggregates are derived from unrounded detailed components.
Release schedule for 1984. Approximately 11 a.m. on February 16, March 16, April 16, May 16,
June 18, July 16, August 16, September 17, October 17, November 16, and December 17.
@FedFRASER