Hourly rates in two-year slump. (Hourly Rate Survey).* A 1.5% average drop in machine-hour rates in the fourth quarter of 2002 was reported by 183 custom injection molders responding to our latest semiannual Semiannual An event that occurs twice in a calendar year. Notes: A bond with semiannual coupons would issue payment once every six months. See also: Annual, Bond, Coupon Bond survey. This followed a 1.3% drop in the mid-year survey and was the fourth drop in a row over a period of two years. Fourteen percent of molders said their rates had dropped in the fourth quarter, while 6% said they had raised rates, and 80% left their rates unchanged. These percentages are about the same as those obtained at mid-year. The only area of the country where more molders raised rates than dropped them was the North Central region, where 11% charged more and 8.5% charged less. Capacity usage flat Meanwhile, molders reported that their average capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. was unchanged from the mid-year level of 53%. However, more molders (40%) saw their capacity utilization drop than saw it rise (24%) at the end of 2002, while the reverse was true at mid-year. The lowest utilization utilization, n 1. the extent to which a given group uses a particular service in a specified period. Although usually expressed as the number of services used per year per 100 or per 1000 persons eligible for the service, utilization rates may be rates at the end of 2002 occurred in the Southeast Southeast or south east is the ordinal direction halfway between south and east. It the opposite of northwest. Southeast or South East can refer to: The general level of optimism Optimism See also Hope. Bontemps, Roger personification of cheery contentment. [Fr. Lit.: “Roger Bontemps” in Walsh Modern, 66] Candide beset by inconceivable misfortunes, hero indifferently shrugs them off. [Fr. about near-term near-term adj. Of, for, or involving a short period of time in the near future. business conditions also sagged a bit at the end of 2002. Only 50% of molders saw improving conditions ahead (down from 54% at midyear mid·year n. 1. The middle of the calendar or academic year. 2. a. An examination given in the middle of a school year. b. midyears A series of such examinations. ) while 19.5% saw worsening wors·en tr. & intr.v. wors·ened, wors·en·ing, wors·ens To make or become worse. Noun 1. worsening - process of changing to an inferior state decline in quality, deterioration, declension business conditions (up from 14%) and 30% saw no change in the near term. The level of optimism was highest in among Northeastern north·east n. 1. Abbr. NE The direction or point on the mariner's compass halfway between due north and due east, or 45° east of due north. 2. An area or region lying in the northeast. 3. molders and lowest in the Southeast. One final indicator Indicator Anything used to predict future financial or economic trends. Notes: In the context of technical analysis, an indicator is a mathematical calculation based on a securities price and/or volume. The result is used to predict future prices. of the slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. in molding molding, in architecture, furniture, and decorative objects, a surface or group of surfaces of projecting or receding contours. A molding may serve as a defining element, terminating a unit or an entire composition (e.g. is the 9.3% decline in new mold mold, name for certain multicellular organisms of the various classes of the kingdom Fungi, characteristically having bodies composed of a cottony mycelium. The colors of molds are caused by the spores, which are borne on the mycelium. orders reported by 110 mold shops nationwide. Though mold orders have declined over most of the last three years, this was the sharpest decline reported since the end of 2001.
CUSTOM INJECTION CAPACITY UTILIZATION
1st Qtr 2000 66
4th Qtr 2000 60
2nd Qtr 2001 58
4th Qtr 2001 52
2nd Qtr 2002 53
4th Qtr 2002 53
Note: Table made from bar graph
PROFIT & LABOR IN HOURLY RATES
Deduct these amounts (a) from the figures in the larger table to arrive
at rates without profit, operator, or both.
Press Tonnage Without Profit Without Operator Without Either
<100 12.0% 16.8% 30.7%
100-299 8.2% 12.4% 24.5%
300-499 7.1% 10.4% 20.6%
500-749 5.0% 8.5% 17.1%
750-999 5.9% 12.9% 20.9%
1000+ 3.5% 11.9% 16.9%
(a)Cumulative national averages over many surveys.
CUSTOM INJECTION MOLDERS'MACHINE-HOUR RATES WITH OPERATOR, PROFIT MARGIN
INCLUDED (a) (183 PLANTS)
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Dollars Per Hour
(High/Average/Low) 4th
Quarter 2002
Tonnage Range <50
Northeast $80.80
(ME, NH, VT, MA, CT $36.40
RI, NY, NJ, PA) $14.07
Southeast $39.24
(DE, DC, FL, GA, MD $30.02
NC, SC, VA, WV) $20.00
North Central $78.19
(IL, IN, MI, OH, WI, IA, $31.13
KS, MN, MO, NE, ND, SD) $6.70
South Central $45.00
(AL, KY, MS, TN, AR, $28.56
LA, OK, TX) $6.22
West (CA, OR, WA, $65.00
AK, HI, AZ, CO, ID, MT, $40.49
NV, NM, UT, WY) $10.00
National Average (C) $33.70
Average Change in Hourly Rates
In Fourth Quarter 2002: -1.5%
Dollars Per Hour (High/Average/Low)
4th Quarter 2002
Tonnage Range 50-99 100-299
Northeast $95.20 $80.00
(ME, NH, VT, MA, CT $38.00 $43.00
RI, NY, NJ, PA) $14.07 $14.07
Southeast $50.00 $65.94
(DE, DC, FL, GA, MD $38.15 $43.72
NC, SC, VA, WV) $20.77 $30.00
North Central $78.58 $113.90
(IL, IN, MI, OH, WI, IA, $34.85 $40.27
KS, MN, MO, NE, ND, SD) $13.40 $12.09
South Central $54.95 $65.94
(AL, KY, MS, TN, AR, $30.93 $37.24
LA, OK, TX) $8.11 $14.05
West (CA, OR, WA, $75.00 $90.00
AK, HI, AZ, CO, ID, MT, $45.43 $51.76
NV, NM, UT, WY) $26.38 $30.77
National Average (C) $37.40 $42.97
Average Change in Hourly Rates
In Fourth Quarter 2002:
Dollars Per Hour (High/Average/Low) 4th
Quarter 2002
Tonnage Range 300-499 500-749 750-999 1000-1499
Northeast $100.00 $86.55 $93.42
(ME, NH, VT, MA, CT $46.41 $55.25 $53.72
RI, NY, NJ, PA) $11.54 $14.07 $14.07
Southeast $62.00 $65.00 $85.00
(DE, DC, FL, GA, MD $50.54 $60.52 $80.00
NC, SC, VA, WV) $35.00 $45.00 $75.00
North Central $214.40 $268.00 $247.28 $173.53
(IL, IN, MI, OH, WI, IA, $53.01 $67.98 $84.70 $98.55
KS, MN, MO, NE, ND, SD) $13.85 $13.85 $13.85 $13.85
South Central $78.00 $87.92 $139.02 $153.31
(AL, KY, MS, TN, AR, $48.05 $65.56 $78.75 $121.06
LA, OK, TX) $19.46 $37.84 $43.24 $75.00
West (CA, OR, WA, $80.78 $91.12
AK, HI, AZ, CO, ID, MT, $55.14 $78.05
NV, NM, UT, WY) $33.75 $65.00
National Average (C) $50.96 $65.50 $73.96 $103.34
Average Change in Hourly Rates
In Fourth Quarter 2002:
Dollars Per Hour
(High/Average/Low) 4th Quarter
2002
Tonnage Range 1500-1999 2000-2999 3000+
Northeast
(ME, NH, VT, MA, CT
RI, NY, NJ, PA)
Southeast
(DE, DC, FL, GA, MD
NC, SC, VA, WV)
North Central $248.57 $296.73 $313.22
(IL, IN, MI, OH, WI, IA, $136.15 $161.94 $213.15
KS, MN, MO, NE, ND, SD) $54.95 $104.41 $170.35
South Central $195.00 $330.80 $450.00
(AL, KY, MS, TN, AR, $134.52 $255.40 $450.00
LA, OK, TX) $80.00 $180.00 $450.00
West (CA, OR, WA,
AK, HI, AZ, CO, ID, MT,
NV, NM, UT, WY)
National Average (C) $135.80 $181.83 $263.55
Average Change in Hourly Rates
In Fourth Quarter 2002:
Dollars Per
Hour
(High/Avera
ge/Low) 4th
Quarter
2002
Tonnage Range Index (b)
Northeast
(ME, NH, VT, MA, CT 83
RI, NY, NJ, PA)
Southeast
(DE, DC, FL, GA, MD 84
NC, SC, VA, WV)
North Central
(IL, IN, MI, OH, WI, IA, 82
KS, MN, MO, NE, ND, SD)
South Central
(AL, KY, MS, TN, AR, 75
LA, OK, TX)
West (CA, OR, WA,
AK, HI, AZ, CO, ID, MT, 100
NV, NM, UT, WY)
National Average (C)
Average Change in Hourly Rates
In Fourth Quarter 2002:
(a)An adjustment factor is used where data did not already include
profit and labor.
(b)Relative to highest-cost region (which equals 100); value shown is a
weighted average for all size ranges.
(c)Weighted geographically according to PLASTICS TECHNOLOGY'S
Manufacturing Census.
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