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Correlations > Industry Statistics > Total Manufacturing > Total cost of materials

DEFINITION: This term refers to direct charges actually paid or payable for items consumed or put into production during the year, including freight charges and other direct charges incurred by the establishment in acquiring these materials. It includes the cost of materials or fuel consumed, whether purchased by the individual establishment from other companies, transferred to it from other establishments of the same company, or withdrawn from inventory during the year.
VIEW DATA:   Totals   Per $ GDP  
Definition     Source      Printable version   
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Showing latest available data.

Correlations between Industry > Total Manufacturing > Total cost of materials ...

Variable Strength
...and  Industry > Total Manufacturing > Total value of shipments 98% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total capital expenditures 94% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added 90% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 85% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Nonmetallic mineral product manufacturing 85% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Nonmetallic mineral product manufacturing 84% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Truck transportation 84% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Truck transportation 84% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Truck transportation 84% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Truck transportation 84% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Value added 83% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 83% [plot | correlate | graph]
...and  Health > Total Hospitals 82% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Nonmetallic mineral product manufacturing 82% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 82% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll 82% [plot | correlate | graph]
...and  Energy > Total Energy Consumption 81% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total cost of materials 81% [plot | correlate | graph]
...and  Health > Number of Nursing Homes 81% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees 80% [plot | correlate | graph]
...and  Education > Elementary & Secondary > Total Number of Schools 80% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers (average per year) 80% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Production workers wages 79% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 79% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 79% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Total value of shipments 79% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Annual payroll 79% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Total cost of materials 79% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Fabricated metal product manufacturing 79% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments 79% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 78% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 78% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Machinery manufacturing 78% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Annual payroll 78% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials 78% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments 77% [plot | correlate | graph]
...and  Health > Number of Infant Deaths 77% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers (average per year) 77% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total capital expenditures 77% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Warehousing and storage 76% [plot | correlate | graph]
...and  Education > Public Libraries > Number of Public Internet Terminals 76% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Production workers wages 76% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers hours 75% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Plastics and rubber products manufacturing 75% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing 75% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing 75% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Machinery manufacturing 75% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Machinery manufacturing 74% [plot | correlate | graph]
...and  Education > Elementary & Secondary > Total Students- White, non-Hispanic 74% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers hours 74% [plot | correlate | graph]
Average: 80%

About Correlations:

A correlation is a statistical measure of similarity between at least two given sets of data. StateMaster's correlations compare two variables from our database and reveal statistical relationships between them. The percentages you see represent the strength (or likelihood) that a change in the topic variable is matched by a change in the listed variables below it. But remember: These correlations do not imply causation, that is, one does not necessarily cause the other. Also, not all variables contain all states, rather subsets of states matched together.

VIEW FOR THIS VARIABLE:

NOTES:

  • Outliers have been removed only where they are outside 3 standard deviations of the mean.
  • Only variable pairs where at least 15 states match for each have been considered.
  • Strength is given by the correlation coefficient (R squared). It is the fraction of variation in Y that can be attributed to the variation in X. 100% signifies a perfect fit (R squared of 1). The top 50 such stats are displayed

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