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FEDERAL RESERVE statistical release For immediate release November 17, 1980 G.3 (402) CAPACITY UTILIZATION: MANUFACTURING AND MATERIALS October 1980 Capacity utilization in manufacturing increased 1.1 percentage points in October to 77.6 percent. The utilization rate for producers of industrial materials was 77.9 percent in October, up 1.8 percentage points from the September rate. Despite substantial gains since July, the October operating rates for both manufacturing and materials were almost 10 percentage points below their last cyclical highs in 1979. The utilization rate for the primary processing industries rose 1.9 percentage points in October to 76.5 percent, and the rate for the advanced processing industries climbed 0.6 of a percentage point to 78.2 percent. Among the primary processing industries, the operating rate for the iron and steel industry, which has increased more than 16 percentage points from its very low level in July, continued its rapid rise in October. Large increases also occurred in utilization rates for producers of nonferrous metals, fabricated metal products, chemicals, rubber and plastics, textiles, and stone, clay, and glass. The operating rate for the petroleum industry declined. Among the advanced processing industries, capacity utilization for motor vehicles and parts producers increased sharply in October for the second consecutive month. Sizable increases also occurred in the operating rates for electrical machinery producers for the aerospace and miscellaneous transportation equipment industries. Producers of durable goods materials utilized 72.1 percent of their capacity in October, 2.4 percentage points above the September rate, and the operating rate for nondurable goods materials rose 1.8 percentage points to 84.1 percent. The utilization rate for energy materials producers remained unchanged at 85.0 percent. MANUFACTURING PERCENT INDUSTRIAL MATERIALS 100 ENERGY TOTAL 80 60 100 NONDURABLE GOODS PRIMARY PROCESSING 80 ADVANCED PROCESSING 60 1968 1971 1fi7< 1877 1980 1871 1974 1677 1980 OUTPUT, CAPACITY AND CAPACITY UTILIZATION Output and Capacity are Percentages of 1967 Output; Capacity Utilization is a Par Cent of Capacity. Seasonally Adjusted Manufacturing 19731 L JJISHJ. SERIES 88.01 1 1 93.8| 1 85.5| 1 HANUFACTUBING, TOTAL PBIdARY FBOCESSING ADVANCED PROCESSING 1979 III J 153.7 HANUFACTOBING, TOTAL 148.3 ADVANCED PBCCBSSIHG 69.0 84.8 68.2 87.5 69.4 83.4 J OUTPUT 1980 I? I 153.41 1 1 162.5| 1 148.51 1 163.9 PRIflABY EROCESSING 1975 1S79 1QH 1 OCJa. MONTHLY CAPACITY UTILIZATION | 1980 DEC. 1 JAM. FEB. HAB. 1 84. 4 84.1| 83.9 83.5 82.8 1 NOV. 86.9 82.9 II 152.8 143.9 160.5 145.0 148.8 143.3 86.3| 1 82.8| 86.4 82.7 1 1 1979 Sill III 1 140.8| 180.1 1 1 139.11 185.6 1 141. 7J 177.3 APB. HAY JUNE JOLT AOG. SEP. OCT. 80.3 77.6 75.7 74.9 75.4 76.5 77.6 83.8 82.6 80.5 75.8 72.7 70.9 72.3 74.6 76.5 82.2 95.2 80.1 78.6 77.4 77.1 77.1 77.6 78.2 1979 III UTILIZATION 1980 I? I CAPACITY 1980 I I 181.7| 183.3 1 1 187.1| 188.5 1 178.9| 180.5 IT II 184.8 190.0 182.0 1 I IIII 186.3| 1 1 191.51 1 183.5| 1 85.3 88.3 83.7 8.| 44 1 1 86.91 1 83.0| 1 83.4 II III 77.9 75.6 85.1 76.3 72.6 82.5 78.7 77.2 Industrial Materials HONTHLY CAPACITY UTILIZATION 1973J HIGHI SEBIES 1975 LOB DURABLE GOODS HATEBIALS 86.2 84.8 83.9 68.6 85.4 85.1 67.2 98.3J -ETA!. MATERIALS NOV. 86.6 | 92.61 69.4 1 1 91.5| 63.6 1 HATEBIA1S, TOTAL | 1980 1S79 OC1. 90.7 90.3 90.9 1 1 94.5| NONDURABLE GOODS HATERIALS 1 95.1| TEX., PAPER, ft CHER. HAT. 1 92.6| 99.4| 95. 5J 1 1 94.6| 1 TEXTILE MATERIALS PAPER HATEBIALS CHEHICAL HATBBIALS ENERGY RATBBIALS 65.3 91. u 57.9 72.4 64.2 90.0 96.9 90.4 89.0 96.9 89. 8 84.8 85.5 86.1 OUTPUT L_ 1979 III 1980 _JL IY II DEC.I IIII 139.0| 155.0 140.6 131.11 117.1 100.6 86.8| 179.3 166.0 161.5| 187.5 171.9 165.0| 203.7 116.4 142.1 208.3 113.3| 137.9 141.9) 151.9 197.21 253.6 130.0 130.3| 156.51 156.3 158.6 156.3| 126.3 119.6| 176.8 179.2| 185.0 187.9| 122.7 146.8 227.7 123.8J 120.6 148.9| 146.1 231.8| 233.6 128.2 129.0J 1 1 1 1 NONDUBAB11 GOODS BATBBIALS HIT. 1 , BOTE: 130.8 JUNE JULY AUG. SEP. OCT. 78.3 75.7 73.7 74.6 76.1 77.9 72.1 82.7 82.2 78.8 74.1 70.8 68.0 69.1 69.7 82.0 83.6 77.2 70.0 67.0 58.4 62.3 64.0 90.3 88.3 86.1 81.8 78.7 76.8 78.0 82.3 8*, 1 90.3 88.5 86.0 81.3 77.1 74.5 76.1 81.1 83.7 87.2 94.4 90.1 86.8 93.0 87.9 84.6 90.7 85.2 84.5 90.8 78.3 81.8 91.6 72.7 82.0 88.1 69.6 79.5 89.6 72.2 82.0 92.7 78.2 87.0 86.5 85.8 85.3 85.8 85.6 85.7 85.0 CAPACITY 1980 I If 185.7| 140.3 140.6J 195.6 197.6| 1 182.8 184.3 1 5 8 8 . | 187.2 188.6 100 9.| 140.7 140.8 140.91 199.8 202.0 204.31 211.0 2 3 7 1 . | 86.0 90.0 90.4 I 1 90.8 1 138.4| 138.8 153.3| 154.7 256.8| 260.4 139.2 156.0 264.6 196 3.| 157.4| 268.7| 151.8 152.61 1 1 i 87.2 1 1 1 89.0 96.7 89.8 1 I 151.1 1 1980 I iy iH III 1 1 205.8J 208.3 150.3| 1979 III 1 1 I I 149.2 1 1 IIII 85.0 UTILIZATION 1 I 1 1 i II 1 1 1 1 | ENERGY HATBBIALS HAY 82.1 184.3 1 1 TEXTILE HATBBIALS PAPER HAT1BIALS CHEHICAL HATEBIALS APB. 84.7 181.2| 1 1 1 TEX., PAP1B, 6 CHBH. HAR. 85.6 179.8 I 1 1 HETAL HAJEBIALS FEB. 1 145.1 156.9 DURABLE GOODS HATBBIALS III 1 1 HATEBIALS, TOTAL JAN. 1 86.11 86.1 1 1 83.6| 83.6 1 84.8| 84.1 1 1 90.8| SO. 9 1 91.4| 91.2 1 89.3| 86.6 97.6| 96.0 90.5| 91.2 1 1 86.0| 86.2 1 1 | 1979 85.9 74.8 05.5 73. •» 82.8 74.6 69.0 83.2 71.4 61.6 9 . | 89.7 06 | 9. 00 I 89.4| 86.9 97.1| 94.5 89.7 90.2| 1 82.2 79.0 81.5 77.2 83.7 91.0 78.7 81.2 90.1 73.3 85.91 1 85.6 85.4 86.3| I 1 84.11 1 85.1| 1 91.2| 86.6 ESTIHATBS OP ACTUAL OUTPUT A M D CAPACITY OUTPUT ABB BOTH BXPBBSSED AS PBBCBITAGBS CF 1967 ACTUAL OUtFOT. BSTIHAT1S OF CAPACITY UTILIZATION III PEBCEIT A B B CALCULATED AS RATIOS OF (1) THE F E D E R A L EBSBBVB'S SEASONALLY ADJOSTBD IIDBIBS OF INDUST R I A L P B O D U C T I O N TO (2) TUB COBBBSPONDING INDEXES OF C A P A C I T Y . I N D U S T R I A L HATBBIALS IBB ITBHS BOTH MODICBD AND OSBD AS INPUTS BY H A N U F A C T U R I N G PLAHTS, HIKES AND UTILITIES; I N D U S T R I A L H A T B R I A L S C07BR H A N Y OF THE ITBflS R B P B B S B N T B D IN TIB FBIHARY PROCESSING G R O U P I N G OF H A N U F A C T U B I N G AS W E L L AS SORB OF THE OUTPUT OF H I N h l S AND UTILITIES — SUCH AS IBON OBB, C10DB OIL, ABD ELECTRICITY SOLD TC I N D U S T R Y . THE 1973 HIGHS AND 1975 LOWS IN CAPACITY UTILIZATION, SHOWN IN THE TABLES ABOfB, ABB SPECIFIC TO BACH SBBIBS ABD RAT OCCOV IN D I F F E R E N T HONTHS. I N D U S T R I A L P L A N T S U S U A L L Y O P E R A T E AT C A P A C I T Y UTILIZATION B A T E S THAT ABE NBLL DBLOI 100 PBBCENT; NONE OF THE B B O A C A G G B E G A T E SEBIES HAS E V E R I N D I C A T E D A 100 P E R C E N T USB OF CAPACITY. CAPACITY U T I L I B A T I O N BATES A V E R A G E D ABOUT 83 P E R C E N T FOR H A N f J F A C T U H I N G FBOH 1955 T H R O U G H 1979, AND A B O U T 85 PERCENT FOR I N D D S T B 1 A L H A T B N I A L S FOB 1967 T H B O O G H 1979. IN H A N U F A C T U R I N G AS A WHOLE, UTILIZATION R A T E S AS HIGH AS 90 P E B C B N T H A V E B E E N E X C E B C B D O N L Y IN NARTIflB. THB PBAK R A T E S OF UTIL I Z A T I O N IN 1973 H E R E A S S O C I A T E D W I T H S I G N I F I C A N T U P H R R I 5 P « " S S O R K ON PRICES. THE HETHCDOLOGY AND THB U B B I E S ARE D E S C R I B E D IN F.ME.flAlt R.E.SJUUIflBlSJJfiE.2Qf CAPACITY AJUl CAf Ay. HI 8T1LIIATIQN. BITI5BI) D A T A ABB F O U N D IN - C A P A C I T Y U T I L I Z A T I O N : H A N U F A C T U H I NO AND flATF.HlALS, J A N U A B T 1967— DICBHBBB 1978." BOTH "OBI. ICATI-, *" RAT PI OPT A I N I D FBOH P U B L I C A T I O N S S E R V I C E S , B O A R D OF G O V E R N O R S OP THE F E D E R A L R E S B H V E SISflH. NASH1HGTON. D.C.
