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32. 1997 Economic Census
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1239. Index of Manufacturing Capacity
[1992 output=100. Annual figures are averages of quarterly data. Capacity represents estimated quantity of output relative to output in1992 which the current stock of plant and
equipment in manufacturingindustries was capable of producing. Primary processing industriescomprise textiles, lumber, paper and pulp, petroleum, rubber, stone,clay, glass, primary
metals, fabricated metals and a portion of chemicals. Advanced processing industries comprise chemical products, food, beverages, tobacco, apparel, furniture, printing and
publishing,leather, machinery, transportation equipment, instruments, ordnance, andmiscellaneous industry groups]
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Relation of output to
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Index of
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capacity (percent)
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Year
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capacity
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All manu-
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Primary
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Advanced
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facturing
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processing
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processing
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1970
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69
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79
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80
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79
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1971
|
71
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78
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79
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77
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1972
|
74
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83
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85
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82
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1973
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76
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88
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91
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86
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1974
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79
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83
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85
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83
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1975
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81
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73
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72
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73
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1976
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84
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78
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79
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78
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1977
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86
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83
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84
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82
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1978
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89
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85
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86
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85
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1979
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92
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85
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86
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85
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1980
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95
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79
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77
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81
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1981
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98
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78
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77
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79
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1982
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100
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72
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69
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73
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1983
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102
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74
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74
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74
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1984
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105
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80
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80
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80
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1985
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109
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79
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79
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79
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1986
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112
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79
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80
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78
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1987
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114
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81
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84
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80
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1988
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116
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84
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87
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82
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1989
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118
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84
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86
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82
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1990
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121
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81
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84
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80
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1991
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123
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78
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80
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77
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1992
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126
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79
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82
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78
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1993
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129
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80
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84
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79
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1994
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133
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83
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87
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80
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1995
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140
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83
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87
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81
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1996
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149
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82
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85
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80
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1997
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158
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82
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86
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81
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1998
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168
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81
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84
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80
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1999
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178
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80
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83
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79
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Source: Board of Governors of the Federal Reserve System, Capacity Utilization In Manufacturing, Mining, Utilities, and IndustrialMaterials, G.3., monthly. (Based on data from Federal
Reserve Board,Commerce, U.S. Bureau of Labor Statistics, and McGraw-Hill InformationSystems Company, New York, NY; and other sources.)
http://www.federalreserve.gov/releases/*
Industrial Production
Coverage. The industrial production (IP) index measures output in themanufacturing, mining, and electric and gas utilities industries; the reference periodfor the index is 1992. For the
period since 1992, the total IP index has beenconstructed from 264 individual series based on the 1987 Standard IndustrialClassification (SIC). These individual series are classified in
two ways: (1) marketgroups (shown in table 1), such as consumer goods, equipment, intermediateproducts, and materials; and (2) industry groups (shown in tables 2 and 6), such
astwo-digit SIC industries and major aggregates of these industries-for example,durable and nondurable manufacturing, mining, and utilities.
Market groups. For purposes of analysis, the individual IP series are grouped intofinal products, intermediate products, and materials. Final products are assumed to bepurchased by
consumers, businesses, or government for final use. Intermediateproducts are expected to become inputs in nonindustrial sectors, such asconstruction, agriculture, and services.
Materials are industrial output requiringfurther processing within the industrial sector. Total products comprise final andintermediate products, and final products are divided into
consumer goods andequipment.
Timing. The first estimate of output for a month is published around the 15th of thefollowing month. The estimate is preliminary (denoted by the superscript "p" intables) and subject to
revision in each of the subsequent three months as new sourcedata become available. (Revised estimates are denoted by the superscript "r" intables.) After the fourth month, indexes are
not revised further until the time of anannual revision or a benchmark revision. The last three benchmark revisions werepublished in 1990, 1985, and 1976.
Source data. In annual or benchmark revisions, the individual IP indexes areconstructed from a variety of source data, such as the quinquennial Censuses ofManufactures and Mineral
Industries and the Annual Survey of Manufactures,prepared by the Bureau of the Census; the Minerals Yearbook, prepared by theDepartment of the Interior; and publications of the
Department of Energy. On amonthly basis, the individual indexes of industrial production are constructed fromtwo main types of source data: (1) output measured in physical units and (2)
data oninputs to the production process, from which output is inferred. Data on physicalproducts, such as tons of steel or barrels of oil, are obtained from private tradeassociations as
well as from government agencies including those listed above; dataof this type are used to estimate monthly IP where possible and appropriate. Whensuitable data on physical product are
unavailable, estimates of output are based oneither production-worker hours or electric power use by industry. Data on hoursworked by production workers are collected in the monthly
establishment surveyconducted by the Bureau of Labor Statistics. The data on electric power use aredescribed below. The factors used to convert inputs into estimates of production
arebased on historical relationships between the inputs and the comprehensive data usedto benchmark the IP indexes; these factors also may be influenced by technologicalor cyclical
developments. Especially for the first and second estimates for a givenmonth, the available source data are limited and subject to revision.
Weights. In the index, series that measure the output of an individual industry areweighted according to their proportion in the total value-added output of allindustries. The
industrial production index, which extends back to 1919, is built as anannually weighted chain-type index since 1977. The components of IP are combinedusing estimates of value added per
unit of output. For months from January to June,the weights are drawn from the year containing the month being estimated and thepreceding year; for months from July to December, the
weights are drawn from thecurrent and following year. The IP proportions shown in column 1 of tables 1A, 2A,and 6 are estimates of the industries' relative contributions to overall
growth in thefollowing year. For example, a 1 percent increase in durable goods manufacturing in1997 would account for an increase in total IP of nearly 1/2 percent.
Seasonal adjustment. Individual series are seasonally adjusted by the X-11 ARIMAmethod, developed at Statistics Canada. For series based on production-workerhours, the current seasonal
factors were estimated with data through October 1996;for other series, the factors were estimated with data through at least June 1996. Insome cases, series were preadjusted for the
effects of holidays or the business cyclebefore using X-11 ARIMA. For the data since 1977, all seasonally adjustedaggregate indexes are calculated by aggregating the seasonally adjusted
indexes ofthe individual series.
Reliability. The average revision to the level of the total IP index, without regard tosign, between the first and the fourth estimates was 0.28 percent during the 1987-96period. The
average revision to the percent change in total IP, without regard to sign,from the first to the fourth estimates was 0.21 percentage point during the 1987-96period. In most cases
(about 81 percent), the direction of change in output indicatedby the first estimate for a given month is the same as that shown by the fourth estimate.
Rounding. The published percent changes are calculated from unrounded indexes,and may not be the same as percent changes calculated from the rounded indexesshown in the release.
Capacity Utilization
Definition. Capacity utilization is calculated for the manufacturing, mining, andelectric and gas utilities industries. For a given industry, the utilization rate is equal toan output
index divided by a capacity index. Output is measured by seasonallyadjusted indexes of industrial production. The capacity indexes attempt to capturethe concept of sustainable practical
capacity, which is defined as the greatest level ofoutput that a plant can maintain within the framework of a realistic work schedule,taking account of normal downtime, and assuming
sufficient availability of inputs tooperate the machinery and equipment in place. The 76 individual capacity indexesare based on a variety of data, including capacity data measured in
physical unitscompiled by trade associations, surveys of utilization rates and investment, andestimates of growth of the capital input.
Groups. Estimates of capacity and utilization are available for a variety of groups,including primary and advanced processing industries within manufacturing,durable and nondurable
manufacturing, total manufacturing, mining, utilities, andtotal industry. Component industries of the primary and advanced processing groupswithin manufacturing are listed in the note
on tables 2 and 3 of the release.
Weights. Although each utilization rate is the result of dividing an IP series by acorresponding capacity index, aggregate utilization rates are equivalent tocombinations of individual
utilization rates aggregated with proportions that reflectcurrent capacity levels of output valued in current-period value added per unit ofactual output. The implied proportions of
individual industry operating rates in therate for total industry for the most recent year are shown in the first column of table 3.
Perspective. The historical highs and lows in capacity utilization shown in the tablesabove are specific to each series and did not all occur in the same month. Industrialplants usually
operate at capacity utilization rates that are well below 100 percent:none of the broad aggregates has ever reached 100 percent. For total industry andtotal manufacturing, utilization
rates have exceeded 90 percent only
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https://allcountries.org/uscensus/1239_index_of_manufacturing_capacity.html
These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.
Copyright © 2019 Photius Coutsoukis and Information Technology Associates, all rights reserved.
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