Costs rise during October
The Plant Engineering Cost Index (PECI) moved up 0.1% during October, as a 0.2% rise in the equipment group sub-index was enough to offset a 0.1% decline in the sub-index for the facilities group.
The Plant Engineering Cost Index (PECI) moved up 0.1% during October, as a 0.2% rise in the equipment group sub-index was enough to offset a 0.1% decline in the sub-index for the facilities group. After several months of escalation, labor cost pressures eased during October. Materials price increases continued to be generally well-contained, although an increasing number of supplies and materials that we track exhibited at least some nominal price rise during the latest month.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey