Hourly rates slip a little. (Your Business Hourly Rate Survey).* Custom injection molders' machine-hour rates held up surprisingly well during the economic slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. of 2001. Custom molders cut their machine-hour rates by an average of just 1.1% in the fourth quarter of 2001, despite the 6.6-point drop in their machine-capacity 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 in that quarter. In comparison, custom molders held their rates flat in the second quarter of last year, when 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. dropped 2 points. (The average change in hourly rates reported here is a revision of the results we reported last fall, owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de the belated be·lat·ed adj. Having been delayed; done or sent too late: a belated birthday card. [be- + lated. discovery of a computer error. The actual hourly rates reported were unaffected.) In the fourth quarter, just 13.5% of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. cut their rates, while 6% raised them and 80.5% kept them the same. Among those who cut rates, the average reduction was 11.7%. Average fourth-quarter capacity utilization dropped to a meager mea·ger also mea·gre adj. 1. Deficient in quantity, fullness, or extent; scanty. 2. Deficient in richness, fertility, or vigor; feeble: the meager soil of an eroded plain. 3. 51.5%, the lowest since these surveys began in 1983. Almost 57% of the 206 molders responding to this latest survey said their capacity utilization dropped in the fourth quarter, vs. less than 20% reporting an increase and nearly a quarter with no change. 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 were off 7.3% for the quarter, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. data from 124 mold shops. That's a lesser drop than in the second quarter, but mold orders have been down or flat for five quarters in a row. 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. is rising Despite these grim figures, custom molders are growing more and more optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that business conditions will improve soon. More than 53% of respondents expect near-term near-term adj. Of, for, or involving a short period of time in the near future. improvement, the first time that figure has risen above 50% since the end of 1999. Less than 17% see any 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 of business in the near term, and about 30% foresee fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. no change. That's a 3:1 ratio of optimists to pessimists, compared with an even balance in the middle of last year. The level of optimism varied from 36.5% in the Northeast “Northeastern” redirects here. For the Boston college, see Northeastern University, Boston. Northeast or north east is the ordinal direction halfway between north and east. It is the opposite of southwest. See boxing the compass. to 70% in the South Central region.
CUSTOM INJECTION CAPACITY UTILIZATION
1999 64
3rd Qtr
1999 64
4th Qtr
2000 66
1st Qtr
2000 60
4th Qtr
2001 58
2nd Qtr
2001 52
4th Qtr
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% 16.7% 30.0%
100-299 8.2% 12.1% 24.2%
300-499 7.4% 10.2% 20.5%
500-749 5.9% 9.7% 17.7%
750-999 6.5% 12.3% 21.1%
1000+ 3.8% 11.7% 16.0%
(a)Cumulative national averages over many surveys.
CUSTOM INJECTION MOLDERS' MACHINE-HOUR RATES WITH OPERATOR, PROFIT
MARGIN INCLUDED (a) (206 PLANTS)
Dollars Per Hour (High/Average/Low) 4th
Quarter 2001
Tonnage Range <50 50-99 100-299 300-499
Northeast $94.60 $100.10 $100.10 $129.40
(ME, NH, VT, MA, CT, $32.79 $36.15 $40.18 $49.09
RI, NY, NJ, PA) $13.00 $13.34 $19.58 $20.01
Southeast $55.00 $53.36 $76.04 $81.37
(DE, DC, FL, GA, MD, $33.74 $34.05 $41.94 $49.70
NC, SC, VA, WV) $20.01 $22.00 $29.70 $31.90
North Central $100.00 $100.00 $83.60 $100.00
(IL, IN, MI, OH, WI, IA, $33.29 $36.93 $40.88 $49.84
KS, MN, MO, NE, ND, SD) $11.52 $13.82 $14.38 $14.38
South Central $49.50 $56.03 $61.36 $66.00
(AL, KY, MS, TN, AR, $28.53 $32.70 $37.75 $43.69
LA, OK, TX) $6.34 $8.67 $16.01 $22.68
West (CA, OR, WA, $86.71 $93.38 $92.16 $86.71
AK, HI, AZ, CO. ID, MT, $40.76 $43.17 $49.56 $54.54
NV, NM, UT, WY) $12.00 $10.95 $15.73 $22.48
National Average (c) $34.01 $37.09 $41.98 $49.82
Dollars Per Hour (High/Average/Low) 4th
Quarter 2001
Tonnage Range 500-749 750-999 1000-1499 1500-1999
Northeast $69.12 $86.71
(ME, NH, VT, MA, CT, $45.57 $60.86
RI, NY, NJ, PA) $27.65 $35.00
Southeast $80.00 $75.00 $85.00
(DE, DC, FL, GA, MD, $57.83 $60.96 $85.00
NC, SC, VA, WV) $42.90 $53.95 $85.00
North Central $100.00 $125.00 $125.00 $185.83
(IL, IN, MI, OH, WI, IA, $61.72 $70.85 $94.02 $136.57
KS, MN, MO, NE, ND, SD) $14.38 $14.38 $14.38 $14.38
South Central $83.00 $88.00 $151.25 $198.00
(AL, KY, MS, TN, AR, $60.26 $65.25 $107.11 $198.00
LA, OK, TX) $45.36 $53.36 $62.97 $198.00
West (CA, OR, WA, $94.46
AK, HI, AZ, CO. ID, MT, $65.55
NV, NM, UT, WY) $27.85
National Average (c) $57.76 $65.92 $94.73 $149.64
Dollars Per Hour
(High/Average/Low) 4th Quarter
2001
Tonnage Range 2000-2999 3000+ Index (b)
Northeast
(ME, NH, VT, MA, CT, 82
RI, NY, NJ, PA)
Southeast $288.00
(DE, DC, FL, GA, MD, $279.00 85
NC, SC, VA, WV) $270.00
North Central $225.00
(IL, IN, MI, OH, WI, IA, $165.97 86
KS, MN, MO, NE, ND, SD) $97.92
South Central $214.50
(AL, KY, MS, TN, AR, $214.50 78
LA, OK, TX) $214.50
West (CA, OR, WA,
AK, HI, AZ, CO. ID, MT, 100
NV, NM, UT, WY)
National Average (c) $176.30 $279.00
Average Change in Hourly Rates
In Fourth Quarter 2001: -1.1%
(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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