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FEDERAL
RESERVE
statistical
release
For immediate release
October 17, 1978
G.3
CAPACITY UTILIZATION: MANUFACTURING AND MATERIALS
September 1978
Capacity utilization in manufacturing was about unchanged in
September at 85.0 per cent. The utilization rate for advanced processing
industries edged down .1 percentage point to 83.5 per cent, and the rate
for primary processing industries rose .3 percentage point to 87.7 per
cent. The rebound of paper production after the strike and continuing
gains in production of metals largely accounted for the rise in primary
processing utilization.
Industrial materials capacity utilization rose by an estimated
.4 percentage point to 86*0 per cent. Capacity use increased by about
one-half percentage point in both the durable and nondurable goods
materials sectors. Energy materials capacity utilization was little
unchanged.
The preliminary third quarter rate of manufacturing capacity
utilization rose .9 percentage point to 84.9.
In materials, the second
to third quarter increase was 1.2 percentage points to 85.7.
MANUFACTURING
INDUSTRIAL MATERIALS
PER CENT
100
TOTAL
80
60
100
NONDURABLE GOODS
PRIMARY PROCESSING
80
ADVANCED PROCESSING
1966
1969
60
1972
1975
1978
1969
1972
1975
1978
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 uAPACHY UTILIZATION
SERIES
19731
HIGH!
MANUFACTURING, TOTAL
PRIMARY PROCESSING
ADVANCED PROCESSING
.
1
08.01
1
1
93.61
1
85.41
1
197*
19?7
StP.
LUW
fa^.9
69.0
08. 1
84.4
70.4
82.0
1978
OCT.
NOV.
o2.9
o2.S
84.7
84.7
61.6
bl.9
DtC.
83.0
d4.5|
1
IV
I
13o.7
139. V|
1
11
1
MANUFACTURING* TOTAL
83.6
bO.5
144.4
147.4|
PRIMARY
PROCESSING
JULY
AUG.
SEP.
b4.3
84.7
64.9
85.0
83.6
84.1
b5.7
86. <
b7.1
b7.3
b7.4
b7.7
60. 8
82.0
82.7
82.5
62. b
03.*:
63.0
t>3.5
CAPACITY
1976
11
1
1
167.1
106.71
170.3
1
1
III 1
1
UTILISATION
IV
111
173.71
83 .U
b*.<y|
1
1
84. o|
1
147.3
148.*:
14o.2
154.1
157.61 173.5
175.11
176.8
176.5
134. 2
135.&
135.4
139.3
141.91 i63.6
Io5.3|
166.9
168.5
170.21
1
11
1
1
172.0
1
1
1
1978
1977
1
1
180. i | 64. V
1
1
ADVANCED PROCESSING
JUNE
83.9
IV
1
139.8
MAY
1977
111
1111
APK.
83.7
Ftft.
bl.9
I
1978
111
01.7
b2.2|
OUTPUT
1977
J
MAR.
02.7
JAN.
81. 9
bi.OI
1
04. O
04.9
63. b
06. j>
67.5
ol.l
b2.7
o3.4
01. 1
I
Industrial Materials
MONTHLY CAPACITY UT1L1ZAI1CN
19731
SERIES
HIGHl
MATERIALS, TOTAL
DURABLE GOODS MATERIALS
BASIC M E T A L MATERIALS
NONDURABLE GOODS MATERIALS
TEX., PAPER, fc CHEM.
MAT.
TEXTILE MATERIALS
PAPER MATERIALS
CHEMICAL MATERIALS
ENERGY MATERIALS
93.11
1
1
92.51
1
97.71
1
1
94.61
1
94.51
1
94.4|
100.51
93.81
1
1
94.61
1
1975
1977
1
LOW SEP .
69.7
04.1.
NOV.
02.0
02.4
82.3
64.3
78.9
79.5
79.4
66.1
73.4
75.6
74.2
67.8
65. V
65.6
66.1
65.5
64.7
58. O
80.3
71.8
89.1
04.9
64.3
82.9
82.4
88.3
86.7
04.7
84.6
84.6
64.4
82.7
64.9
85.2
84.4
DfcC.I
1
ol.V|
1
I
80.11
|
75.71
1
1
65. o|
1
64.01
|
82.0|
85.2|
64.3|
1
1
81.4|
1
OUTPUT
1977
111
136.1
111
111
136.0
138.91 139.2
137.71
145.1
148.3
107.8
137.9
144.0
149.5
171.0
109.4
109.41 ilO.5
154.4
155.01
117.5
159.51
112.3
135.1
189.5
117.91 115.3
132.31 136.5
188.91 194.9
121.91
1
NOTE:
80.0
79.6
78.7
7V. 4
61.6
62.1
02*0
64.4
04.0
05.3
75.7
80. 0
60.4
bO.b
83.1
04.1
87.7
66.2
88.6
66.7
07.4
06. V
07.3
b5.6
75.7
76.1
85.3
66.9
04.5
85.3
66.5
86.5
86.9
87.0
86.3
65.1
80.1
60.7
80.1
81.0
81.0
61.7
81.1
80.5
68.1
69.0
69.5
90.2
9O.5
90.2
66.9
02.7
64.0
65.7
67.4
67.2
87.7
87.6
67.7
87.1
60. O
79.7
64.0
04.7
66.1
66.3
05.9
83.1
1
1
1978
IV
11
1
106.91
172.81
Io3.2
162.6
176.6
160.41
163.1
167.7
167.4
170.4
171.7
125.5
175.2
145.8
146.1
162.3
164.4
188.91
190.6
193.1
142.5
151.3
221.2
143.01 143.5
152.51 153.0
223.61 226.6
144.1
154.8
230.1
1
145.7|
1
176.31
1
1
1
1
166.51
79.2
75.3
195.4|
65.1
1
147.2
147.8
t
78.6
1
1
1
1
69.3
148.41
1
I
62.21
1
1
79.71
1
75.21
1
ttl.7
11
111
64.5
65.7
79.3
82.2
64.8
75.6
80.4
06.7
ob. 5
67.2
05.5
OO -ft
o5.7
i
86.3
{
187.1
127.61 145.2
62.3
1
174. O
1
|
119.1
173.01
1976
IV
|
|
1
117.1
139.7
201.4
1977
111
1111
0O.U
UTILIZATION
1
1
159.2
123.4
85.6
1
1
158.0
1
1
ENERGY MATERIALS
SEP.
85.7
145.51
1
TEXTILE MATERIALS
PAPFR MATERIALS
CHEMICAL MATERIALS
AUG.
85.1
145.3
1
TEX., PAPER, 4 CHEM. MAT.
jgLY
84.5
1
1
1
NONDURABLE GOODS MATERIALS
jUtyt
84.0
1
1
1
BASIC METAL MATERIALS
MAY
81.9
Feb.
1
1
|
DURABLE GOODS MATERIALS
APR.
81.3
1977
11
1
I
MATERIALS, TOTAL
MAR.
01.9
CAPACITY
1978
IV
1978
JAN.
85.7
85.0
65.91
1
84.51
1
62.4|
86.7{
84.51
1
1
83.71
1
60.3
bl.2
88.9
90.3
66. O
87.5
80.9
84.9
8fc.l
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 FEDERAL RESERVE'S SEASONALLY ADJUSTED INDEXES OF 1NOUSTRIAL PRODUCTION TO (2) THE CORRESPONDING INDEXES OF CAPACITY.
INDUSTRIAL MATERIALS ARE ITEMS &OTH PRODUCED AND USED AS INPUTS BY MANUFACTURING PLANTS, MINES AND UTILITIES; INDUSTRIAL MATERIALS COVER MANY OF THE ITEMS REPRESENTED IN THt PRIMARY
PROCESSING GROUPING OF MANUFACTURING AS WELL AS SOME OF THE OUTPUT OF MIMES AND UTILITIES — SUCH AS IRON ORE, CRUDE OIL, AND
ELECTRICITY SOLD TO INDUSTRY.
THE 1973 HIGHS AND 1975 LOWS IN CAPACITY UTILIZATION, SHOWN IN THE TABLES ABOVE, ARE SPECIFIC TO EACH SERIES AND MAY OCCUR IN
DIFFERENT MONTHS. INDUSTRIAL PLANTS USUALLY OPERATE AT CAPACITY UTILIZATION RATES THAT ARE WELL bELOW 100- PERCENT; NUNE QF
THE BROAD AGGREGATE SERIES HAS EVER INDICATED A 1OO PERCENT USE OF CAPACITY.
CAPACITY UTILIZATION RATES AVERAGED ABOUT 83
PERCENT FOR MANUFACTURING FROM 1955 THROUGH 1977,
AMD ABOUT 85 PERCENT FOR INDUSTRIAL MATERIALS FOR 1967 THROUGH 1977.
IN
MANUFACTURING AS A WHOLE, UTILIZATION RATES AS HIGH AS 9O PERCENT HAVE BEEN EXCEEDED ONLY IN WARTIME. THE PEAK RATES OF UTILIZATION IN 1973 WERE ASSOCIATED WITH SIGNIFICANT UPWARD PRESSURE ON PRICES.
THE CAPACITY UTILIZATION ESTIMATES ARE DESCRIBED, AND HISTORICAL DATA ARE PROVIDED, IN FEDERAL RfcfrfcRVE f^A^RtS Q£ CAPACITY
AMD. CAPACITY UTILIZATION^ THIS PUBLICATION MAY BE OBTAINED FROM PUBLICATION SERVICES, BOARD OF 6OVERMORS OF THE FEDERAL R f c SERVE SYSTEM, WASHINGTON, D.C. 20551. THE PRICE IS $1.75
PER COPY; FOR TEN OR MORE, S1.5O EACH.
@FedFRASER