North American Industrial Project Spending at 12.73% Growth for 2010

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Researched by Industrial Info Resources (Sugar Land, Texas)--In September, the North America Industrial Project Spending Index reached its highest growth rate since November 2008. Currently, the North American industrial market is experiencing growth of 12.73% based on industrial projects that are starting construction this year, compared to the same month last year. Advancing industries include Power with 54.1% growth, Oil & Gas Transmission with 109.1% growth, Oil & Gas Production with 155% growth, Chemical Processing with 65.2% growth, Pulp & Paper with 122% growth, and Food & Beverage with 25.7% growth. These industries outpace declines in Terminals, Alternative Fuels, Petroleum Refining, Metals & Minerals, Industrial Manufacturing and Pharma-Biotech.

Click on the image at right to view a chart showing the North America Industrial Project Spending Index since January 2006.

As can be seen from the chart, industrial project spending has been increasing in North America since it bottomed out in November 2009. Positive project spending growth has occurred every month since March 2010, indicating a healthy amount of activity in those industries showing positive 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.