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FEDERAL RESERVE statistical release

For immediate release
November 17, 1982

G.3 (402)

CAPACITY UTILIZATION: MANUFACTURING AND MATERIALS
October 1982
Capacity utilization in manufacturing fell 0.8 of a percentage
point further in October to 68.4 percent, slightly under the previous
low of 69.0 percent which occurred in March 1975. The operating rate
for producers of industrial materials declined 0.5 of a percentage point in
October to 67.2 percent; the materials rate dropped below its March 1975
low last June.
Within manufacturing, the operating rate for the advanced processing
industries fell 1.1 percentage points to 69.8 percent, while the rate for the
primary processing industries decreased 0.3 of a percentage point to 65.8
percent. The operating rate declined sharply for producers of motor vehicles and
parts, and rates also decreased in industries producing nonelectrical machinery,
instruments, iron and steel, fabricated metals, paper, and other products.
The utilization rate for producers of durable goods materials dropped
1.0 percentage point in October to 61.0 percent, as producers of raw steel,
aluminum, parts for consumer durable goods, and parts for equipment curtailed
operations. Producers of nondurable goods materials operated 71.5 percent
of their capacity In October, down 0.3 of a percentage point since September.
The operating rate for energy materials production rose 0.6 of a percentage
point to 78.5 percent.


1970


INDUSTRIAL MATERIALS

MANUFACTURING
PERCENT
100

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
1975
LOB

OCT.

H0NTH1Y CAPACITY UTILIZATION
| '1982
NOV.
DEC- 1 JAS.
FEB. M H
A

88.0!

69.0

76.6

74.8

PJilfiARY PROCESSING

1
93. 81

68.2

75.7

ADVANCED PROCESSING

85.5|

69.4

77.0

SERIES

19731
HIGHl
1

BANOFACTUBING, TOTAL

I

OUTPUT
1982
JV
I
1
145.0J 139.8
1

1981
III
152.5

BANUFACT&RING, TOTAL

1981

72.7

1
73. 1| 71.1
!
!
69.6| 68.5

75.8

75. Of
!
III!

72.8

APB.

Shi

JUNE

JULY

AUG.

SEP.

OCT.

71. 6

70.8

70.2

70 . 0

70 0

69 . 8

65.2

68.4

70 .0

68. 6

67.2

66.1

65 .7

65. 7

66 . 0

66.1

65.8

73 . 6

73. 2

72.6

72.5

72, 3

72. 3

71. 8

70.9

69.8

UTILIZATION
1982
IV
I

II

III

71. 6

70.3

69.7

69 1

66,3

65.9

73. 2

72.5

71.7

7 2 .2

CAPACITY
1982
IV
I

1981
III

JI

2

196.4

I
I 1981
III!
III
!
197.7! 79. 3
»

137.81 192.4
1
1
132.21 196.3

193

1
19* . 5 | 198. 6

199.5

20ft. 41

79. 4

140.6! 190.4
\

192 .OJ 193. 5

194.9

196.2!
i

79. 2

I
7 2 . 7|
i
7 5 . 91

HONTHLT CAPACITY UTILIZATION
1 1982
WOV.
DEC.l JAN.
FEB.
BAB.

&Pfi.

HAY

JOflE

JOXY

138.1

PHIBABY PROCESSING

155. 8

143.5| 137.1

132.3

ADVANCED PROCESSING

150.7

145.8! 141.6

141.2

7 4 . 8)

industrial Materials
sums

1975
LOB

92.6|
J

69.4

1981
per.
77.7

91.5|

63.6

74.7

1973|
L

BATEBIALS, TOT AX
DURABLE GOODS BA1EBJALS

HZ6B1L
1

AUG.

SEP.

OCT.

75.5

72.4|
1

71.4

72.9

71.8

70,5

69.4

68.8

68.5

68.4

67.7

67.2

72.2

68.5|

66.2

67.4

66.4

65.0

64.2

64.0

63.7

63.1

62.0

61.0

t

HST1X MATERIALS
NOHDOBABXf GOODS BAIWUALS
XIX. , PAP I B , & CHEfl.

flA3.

TEXTILE flAJEBIALS
PAPEB HAT1SIA1S
CHEHICA1 HATEHIALS
IBMGY H1TBBIALS

98.3!
1
t
94.5|

68.6

73.9

70.8

65.5|
I

65.8

64,7

61.1

56.2

53.9

52.2

50.7

51.4

51.1

67.2

80.3

77.3

74.1|

73.2

76.5

75.3

74.4

72.5

70.9

70.2

71.1

71.8

71.5

95. 11

65.3

7S.1

75.9

72.2f

70.7

74.4

73.7

72.5

70.6

68.8

68.0

68.8

69.5

69.6

92.6|
99.4|
95.5J
- 1
!
94.61
1
I
J

57.9
72.4
64.2

78.8
92.1
76.2

75.5
92.3
72.4

72.0|
86.5|
69.0|

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
86.1
66.9

69.6
85.3
65.0

69.8
86.0
63.7

71.9
88.0
63.9

72.4
88,9
64.6

84.8

82.5

82.2

81.6|

83.7

83.2

81.8'

80.2

79.9

79.8

80.0

79.5

77.9

1981
I?I

UTILIZATION
1982
IT
I

1981
111
HATEBIALS, TOTAL
DOBABLE GOODS HATEBIALS
HETAL HATERIALS
NOND0BAB1B GOODS BASEitlALS
MX.,

PAPBB, 6 CfiEfl. BAT.

TEXTILE BATEfilALS
PAPEB BATIBIALS
CHEHICAL flATEBIAXS
ENKK3Y MAT2RIALS
HOTS:

•

154.3

OUTPUT
1982
%J
I
1
138.7
144.0J.
I

1
I

1
1
Jill

1981
III

115.5

131.6

69.6

68.2

196.4

197.3

198.31

78.7

J
66,. 7
71.8|

64.4

62.9

142.3

142.4

142.3(
1

80.5

70.1J
I

63.9

54.1

51.1

217.41
1
228.81
1
142.8!
165.4)
291.9!
!
!
157.61
1

83.3

77.2I
•
75.71

75.0

72.6

71.0

82.5

72.9

70.6

68.8

81.8
94.1
80.0

75.4|
90.3 J
72.5J

71.3
89.2
69.6

71.5
86.3
67.0

71.4
87.6
64. 1

84.9

82.11
j

82.9

79.9

79.2

141.0
161.9
281.0

141.61 142.1
162.8) 163.8
284.4| 287.3
!

142.4
164.6
289.6

1
124.8} 155.0

155.8! 156.5

157.0

72.71 141.9
1

224.9

72.0

216.1

77.0

| 152.2

75.2!

227.3

99.51 90.9
1
1
164.51 161.0
164*5

160.5

101.3
146.1
200.0

101.8
142.0
194.0

154.51
1
157.4|
I
101.91
145.0|
187.11

1
127.9* 129.8
1

T25.5

156.8

81.1

214.6

114.2

t

III

!
194.61
1

223.91 225.6

124.81 194.2

16S»4(
1
106.81
147. O|
206.21

II

193.7

211.2

I

127.1

1

78.5

192.6

221.7

132.71 190.3

140.21 130.9

175.8

IJ

1
191.5!
i
I
195.3!
142.11
»
1
213.11

134.7

152. a

182.8

CAPACITY
1982
IT
I

ESTIBATES OF ACTUAL OUTPUT AND CAPACITY OUTPOT ABE BOTH EXPRESS I D AS PERCENTAGES OF 1967 ACTUAL OUTPUT. ESIIBAXES OF
!
CAPACITY UTILIZATION III PEBCEHT ARE CALC0LAT2D AS RATIOS OF (1) THE FEDERAL RESERVE*S SEASONALLY ADJUSTED INDEXES OF INDUSTBIAL PRODUCTION TO (2) THE COBBESPOHDING INDEXES OF CAPACITY. INDUSTRIAL HATERIALS ABE ITEBS BOTH PRODUCED AND USED AS IKPOTS BY HAKOFACTOBIXG PLANTS, BINES AND UTILITIES; IHDUSTRIAL BilTEJIAlS COVER BAN! OF THE ITEflS REPRESENTED IN THE PRIHASY
PROCESSING GSOOPIliG OF BAN0FACTUB1NG A5 HELL AS SOSB OF'THE OOTPUT OF BINES AND UTILITIES "— SUCH AS IilON OBE, CBUDB OIL, AND
E1BCM1CI1Y SOLD TO INDOSISY.
TBS 1973 HIGHS AMD 1975 LOSS IN CAPACITY UTILIZATION, SBOMN IN THE TABLES ABOTS, ABB SPECIFIC TO EACH SERIES AND BAY OCCUR IN
DIFFERENT BOBTHS. IND0ST8IAL PLANTS USUALLY OPERATE AT CAPACITY UTILIZATION BATES THAT A-RE iTSLL BELOW 100 PEBCENT; NONE OF
THE BJOAD AGGREGATE SERIES HAS £7Sfi INDICATED A 100 PSBCSNT USB OF CAPACITY. CAPACITY UTILIZATION BATES AVERAGED ABOUT 83
PBBCEHT FOB HANUFACTOBJNG PBOB 1955 THJOUGH 1979, AND ABOUT 85 PEHCENT FOB INDOSTBIAL BATEBIALS FOB 1967 IHBOUGH 1979. IN
BANUFACTUB1NG AS A I HOLE, OTILIZATIOH BATES AS HIGH AS 90 PEBCEIT HAVE BEEN EXCEEDED ONLY IN VABTIHB. THE PEAK RATES OS UTILIZATION IN 1973 1B&S ASSOCIATED 1ITH SIGNIFICANT UPIA£D PBESSUH2 ON PRICES.
THE J2TH0D0L0GY AND THE SEJUES ABE DESCBIBED IH FEDERAL RESERVE HEAS0B5S Q£ CAPACITY a^D CAPACITY UTILIZATION. BE7ISED DATA
ABE JOUND IN "CAPACITY UTILIZATION: BANUFICTURING AND B1TEB1AL5, JANUABY 1967—DBCSHBSB 1978- M BOTH PUBLICATIONS SAY BE OBTAINED FBOB PUBLICATIONS SERVICES, BOARD OF GOVERNORS OF THE FEJ!)2£AL BESESV2 SYSTEB, WASHINGTON, D.C. • 20551