Index remains stable
The Plant Engineering Cost Index (PECI) edged up by just 0.1% in February, marking the fourth consecutive month that the Index stayed in the 149-150 range.
The Plant Engineering Cost Index (PECI) edged up by just 0.1% in February, marking the fourth consecutive month that the Index stayed in the 149-150 range. Plant operating costs are nearly 2% higher than a year ago, and costs appear to be on a steady, but mild, incline since the third quarter of 1996. Some equipment components with noticeable changes are costs of wire and cable (nonferrous), dropping 1.1% in February, which is down 4.4 % from year-earlier level; and metal costs down 6.4% from a year ago.
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Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.