North America Industrial Project Spending Index Indicates 10% Growth for April 2010

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Researched by Industrial Info Resources (Sugar Land, Texas)--The North America Industrial Project Spending Index indicated positive growth in March, ending a 15-month decline in industrial project spending based on scheduled construction starts in North America. March 2010 represents the first month since December 2008 that the index has risen into positive territory. April continued the positive growth trend, as the index is currently showing 10.7% growth in planned construction kickoffs for industrial projects this year when compared to 2009. Active project value of $278 billion represents growth of 10.7% compared to April 2009.

Click on the image at right to view a chart showing the North America Industrial Project Spending Index.

As can be seen from the chart, during the economic downturn and financial crisis, the index experienced a 28-month tumble from 40.45% growth in August 2007 to -35% growth in November 2009. Since that time, the index has trended upward, reaching 10.7% in April.

Industries seeing growth this year include the Power Industry with $139 billion representing 24% growth, Oil & Gas Transmission with $7.7 billion representing 45% growth, Oil & Gas Production with $18 billion representing 83% growth, Petroleum Refining with $13 billion representing 13%, Chemical Processing with $13 billion representing 78% growth, Metals & Minerals with $40 billion representing 11% growth, and Food & Beverage with $6.5 billion representing 20% growth.

The North American Project Spending Index is a monthly indicator comparing the total investment value of the current year to the previous year, based on actual project construction starts, in order to get a measure of growth or contraction in the industrial market. The index takes into consideration project-spending activity in 12 vertical industries: Power; Terminals; Oil & Gas Transmission; Oil & Gas Production; Alternative Fuels; Petroleum Refining; Chemical Processing; Metals & Minerals; Pulp, Paper, & Wood; Food & Beverage; Industrial Manufacturing; and Pharmaceutical & Biotech.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.