Fourth quarter holds steady
According to the Plant Engineering Cost Index (PECI), plant operating costs increased by a mere 0.1% in December to 149.1. Compared to a year earlier, costs were 2.2% higher in December. For the year as a whole, costs were 1.
According to the Plant Engineering Cost Index (PECI), plant operating costs increased by a mere 0.1% in December to 149.1. Compared to a year earlier, costs were 2.2% higher in December. For the year as a whole, costs were 1.6% higher in 1997 than in 1996. Competitive pressures from abroad, combined with the strength of the U.S. dollar, have prevented U.S. manufacturers from raising product prices in recent years. Because costs were rising at a faster rate towards the end of the year, however, we may see an upward swing in costs for 1998.
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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