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
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