Spending Index Shows Impact of Chemical Mega Projects
Industrial Info's North American Industrial Project Spending Index, which measures the value of active projects in the pipeline for the year, showed a 23% drop in Chemical Processing Industry spending in October. The index for October showed $16.2 billion in spending, down from nearly $21.1 billion in October 2017. The index has shown a drop in chemical spending since June.
The Project Spending Index is a monthly indicator that compares planned industrial project spending for the current year to the previous year in order to get a measure of growth or contraction in the industrial market. The index provides spending details by industry and market region, including monthly updates that measure the rate of activity from this year to last year during the same month.
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