North American Industrial Project Spending to Exceed $400 Billion in 2014

WASHINGTON, D.C.--May 21, 2014--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--North American industrial project spending is forecast to reach about $401 billion this year, about 11% more than was forecast to take place last year, Michael Bergen, Industrial Info's executive vice president, told about 100 attendees at the Industrial Market Outlook 2014 briefing held earlier this month in Washington D.C. A dramatic gain in natural gas production is fueling a U.S. manufacturing renaissance, the impacts of which are evident in seven different industries, including Power, Chemical Processing and Industrial Manufacturing, he said May 7.