Industrial Market Outlook in Review: Industrial Info Forecasts $206 Billion Project Spending in 2015 as Low Oil & Gas Prices Shake Up Industry
SUGAR LAND--February 2, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Plunging prices for crude oil and other commodities have shaken the global Oil & Gas Industry to its core, causing project developers to reevaluate project timelines, leading to delays. Just since December 2014, the U.S. has seen a $41.74 billion drop in forecasted capital spending for 2015, according to Industrial Info's data. Nonetheless, the U.S. is looking at an estimated $206.45 billion in construction start-ups in 2015, a 2.8% increase from last year, according to presenters at Industrial Info's most recent Industrial Market Outlook, held January 29 in Houston, Texas.
Within this article: Details from Industrial Info's annual global outlook on how the plunging prices are affecting numerous industries worldwide.
