Diverging measures of capacity utilization
Subtitle: an explanation
By: Norman Morin and John J. Stevens.
Contributors: Stevens, John J.
Series: Finance and economics discussion series ;; 2004-58; Finance and economics discussion series (Online) ;; 2004-58.
Publisher: Federal Reserve Board
Published: 2004
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Description: "In the wake of the recent recovery in manufacturing production, the capacity utilization rates published by the Federal Reserve Board (FRB) have rebounded much more slowly than those published by the Institute for Supply Management (ISM).  As a result, some observers have speculated that the manufacturing sector may have considerably less slack than is indicated by the FRB measures.  Our view is that the two characterizations of manufacturing slack are not as incongruent as they first appear.  This paper discusses the practical and conceptual differences between these measures of capacity utilization, and concludes that the recent divergence simply reflects the character of the latest business cycle"--Federal Reserve Board web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 10/21/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.