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Econom ic Ind icato rs DOWNLOAD THE CEPCI TWO WEEKS SOONER AT

WWW.CHEMENGONLINE.COM/PCI

CHEMICAL ENGINEERING PLANT COST INDEX (CEPCI) (1957-59 = 100)

CE In d e x

O ct. 14 Prelim. 579.8

S e p t.'14 Final 580.1

O c t.'13 Final 567.5

704.1 652.3 666.9 876.4 411.9 941.1 516.0 769.1 324.4 547.2 320.3

704.6 650.9 668.1 877.4 413.4 939.0 515.7 775.1 323.9 546.3 321.4

686.6 620.0 655.7 874.5 411.8 924.7 513.8 744.1 321.6 533.7 324.4

Equipment Heat exchangers & tanks Process machinery Pipes, valves & fittinqs Process instruments Pumps & compressors Electrical equipm ent Structural supports & misc Construction labor Buildinqs Enqineerinq & supervision

LATEST

CURRENT BUSINESS INDICATORS* CPI output index (2007 = 100) CPI value of output. $ billions CPI operating rate. % ______ Producer prices, industrial chem icals (1982 = 100) _________ Industrial Production in M anufacturing (2007 = 100) ________ Hourly earnings index, chem ical & allied products (1992 = 100) Productivity index, chemicals & allied products (1992 = 100)

2300

95

2200

90

2100

85

2000

80

1900

75

Nov.'14 Oct: 14 Nov.'14

= = =

93.9 2,056.1 78.7

Nov.'14 Nov.'14 Nov: 14 Nov.'14

= = = -

283.4 102.2 157.4 107.8

Oct.'14 Sept.'14 Oct: 14

= = =

93.1 2,114.6 78.1

Sept.'14 Aug.'14 Sept.' 14

= = =

92.9 2,123.6 77.9

Nov.'13 Oct.'13 Nov.'13

= = =

89.1 2,137.9 75.5

Sept.'14 = Oct: 14 = Oct: 14 = Oct: 14 =

293.2 101.1 156.2 107.8

Aug.'14 Sept.'14 Sept: 14 Sept.'14

= = = =

296.6 100.7 157.0 107.9

Nov.'13 Nov.'13 Nov.'13 Nov.'13

= = = =

290.0 97.6 157.4

CPI OUTPUT VALUE ($ billions )

CPI OUTPUT INDEX (2007 = 100) 100 _

YEAR AGO

P R E V IO U S

106.8

CPI OPERATING RATE (%) 80

1800

J F M A M J

J A S O N D

J F M A M J

J A S O N D

* Current Business Indicators provided by IHS Global Insight, Inc., Lexington, Mass. —

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CURRENT TRENDS

HIGHLIGHTS FROM RECENT ACC ECONOMIC DATA he Am erican Chemistry Council (ACC; W ashington, D.C.; www.am ericanchem istry.com ) released its "Year-end Chemical Industry Situation and O utlook" report in late December. The report says that despite facing global headwinds, the Am erican chemical industry ex­ panded at a 2.0% growth rate in 2 0 1 4 , and is expected to reach a 3.7% gain in output in 2 0 1 5 , before hitting 3.9% in 2 0 1 6 . The report's consensus is that U.S. chemical output w ill continue to expand well into the second half o f the decade, exceeding that o f the overall U.S. economy. O ther key highlights o f the Situation and O utlook report include the follow ing: • Light vehicle sales ($ 3 ,5 0 0 o f chemistry per unit) g rew 5.2% in 2 0 1 4 • Housing starts ($ 1 5 ,0 0 0 o f chemistry per start) g rew 7.5% in 2 0 1 4 • Basic chemicals were hard hit from recessions in Japan and Brazil • During the second h a lf o f the current decade, U.S. chemical industry grow th is ex­ pected to expand a t a pace o f more than 4% per ye a r on average, exceeding that o f the overall U.S. economy • A trade surplus o f $ 7 7 billio n is expected by 2 0 1 9 • M ore than 2 1 5 new chemical production projects valued at over $ 1 3 5 billio n have been announced in the U.S., helping capital spending to surge nearly 12% in 2 0 1 4 to more than $ 3 3 bill ion G lobally, the AC C reported that the O rg a n iza tio n fo r Economic C ooperation and Develop­ ment's (OECD; Paris; w w w .o e cd .o rg ) composite leading indicator pointed to stable growth momentum for the OECD regions as a whole. □

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CHEMICAL ENGINEERING WWW.CHEMENGONLINE.COM JANUARY 2015

he preliminary value for the October CE Plant Cost Index (CEPCI; top; the most recent avail­ able) declined slightly (0.05%) from the final September value, reversing the increasing trend that has been observed for the past six months. The Equipment subindex saw a very small decline in October, as did the Buildings and Engineering & Supervision subindices, while the Construction & Labor subindex saw a small increase. The overall Octo­ ber PCI value stands at 2.2% higher than its value from October 2013. Meanwhile, updated values for the Current Business Indicators (CBI) from IHS Global Insight (middle) show that the CPI output index was up slightly from the previous month, while the value of output declined. O

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