North American Industrial Spending Index Shows 34% Growth in August 2007

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Researched by Industrial Info Resources (Sugar Land, Texas)--In the most recent August 2007 update to the North America Industrial Spending Index, the value of active industrial projects in North America is up 34.5% compared with 2006. While continuing the strong growth trend occurring all year long, the August figure represents the first monthly decrease in growth measured since April 2007 and ends an uptrending period that peaked at more than 40% in June and July.

More than $282.3 billion in active industrial projects have begun construction or are scheduled to begin construction in North America in 2007.

Click on the image at right to view a chart showing the monthly percentage growth of industrial projects in North America.

Looking at vertical markets, the Alternative Fuels Industry continues to experience the largest increase in growth with more than $44 billion in active projects for 2007. Explosive growth is occurring in this industry as hundreds of ethanol and biodiesel plants move forward. An example of one of the many Alternative Fuels Industry projects moving to the construction stage this year is the start of Phase I construction of a $200 million grassroot fuel ethanol plant under construction in Mount Vernon, Illinois. Aventine Renewable Energy Incorporated (Pekin, Illinois) began construction in September of a 226 million gallon-per-year plant.

After the Alternative Fuels Industry, Petroleum Refining is the second largest growth industry in 2007 with 200% growth measured. The industry is planning to begin construction of more than $21 billion in capital and maintenance projects in 2007. Record profit margins and rising demand have domestic refiners ripe for capacity expansion and modernization projects.

Other industries experiencing growth in 2007 include Power (6.66%), Oil & Gas Terminals (50.52%), Oil & Gas Transmission (147.08%), Metals & Minerals (9.25%), Pulp & Paper (31.46%), Food & Beverage (19.93%) and Industrial Manufacturing (4.42%).

Decliners for 2007 include Oil & Gas production (-29.08%), Chemical Processing (-28.29%) and Pharmaceutical-Biotech (-3.79%).

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