Costs rise moderately at end of 1998
The Plant Engineering Cost Index (PECI) moved up a moderate 0.
The Plant Engineering Cost Index (PECI) moved up a moderate 0.2% during November, as continued declines in some materials prices were more than offset by increases in most labor components and by increases in a larger-than-usual number of materials categories. Labor costs had eased unexpectedly the month before, but the still-tight labor market pushed average hourly earnings higher again in the latest month. The overall Producer Price Index (PPI) fell 0.2% between October and November.
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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