Economic Indicators

CHEMICAL ENGINEERING WWW.CHEMENGONLINE.COM OCTOBER 2020CHEMICAL ENGINEERING WWW.CHEMENGONLINE.COM OCTOBER 2020 348

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2018 2019 2020

CPI OUTPUT INDEX (2000 = 100)† CPI OUTPUT VALUE ($ BILLIONS) CPI OPERATING RATE (%)

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CURRENT BUSINESS INDICATORS LATEST PREVIOUS YEAR AGOCPI output index (2012 = 100) ____________________________________________________ Aug. '20 = 95.2 Jul. '20 = 94.0 Jun. '20 = 92.2 Aug. '19 = 102.9CPI value of output, $ billions _____________________________________________________ Jul. '20 = 1,810.1 Jun. '20 = 1,768.1 May '20 = 1,637.2 Jul. '19 = 2,032.0CPI operating rate, % __________________________________________________________ Aug. '20 = 70.9 Jul. '20 = 69.9 Jun. '20 = 68.5 Aug. '19 = 76.7Producer prices, industrial chemicals (1982 = 100) ____________________________________ Aug. '20 = 219.5 Jul. '20 = 217.6 Jun. '20 = 211.9 Aug. '19 = 245.8

Industrial Production in Manufacturing (2012 =100)* ___________________________________ Aug. '20 = 97.9 Jul. '20 = 97.0 Jun. '20 = 93.4 Aug. '19 = 105.2Hourly earnings index, chemical & allied products (1992 = 100) ____________________________ Aug. '20 = 189.5 Jul. '20 = 189.8 Jun. '20 = 190.6 Aug. '19 = 185.2Productivity index, chemicals & allied products (1992 = 100) ______________________________ Aug. '20 = 99.7 Jul. '20 = 100.6 Jun. '20 = 99.1 Aug. '19 = 97.7

CURRENT TRENDS

The preliminary value for the CE Plant Cost Index (CEPCI; top) for July

2020 (the most recent data available) increased compared to the previous month’s value, reversing a three-month period of decline. Three of the four major subindices — Equipment, Build-ings and Construction Labor — rose in July, offsetting a small decrease in the value for the July Engineering & Su-pervision subindex. The current CEPCI value sits at 1.8% lower than the cor-responding value from July of last year. Meanwhile, the Current Business Indi-cators (CBI; middle) showed increases for both the CPI Output Index and the CPI Operating Rate for August 2020. In addition, the CPI Value of Output rose in July 2020.

CHEMICAL ENGINEERING PLANT COST INDEX (CEPCI) (1957–59 = 100) July ’20

Prelim.June ’20

FinalJuly ’19

Final CE Index ______________________________________________ 593.5 591.1 604.6Equipment ____________________________________________ 718.8 715.7 735.8 Heat exchangers & tanks _________________________________ 613.0 610.6 646.8 Process machinery _____________________________________ 719.7 719.0 722.2 Pipe, valves & fittings ____________________________________ 945.8 934.2 953.9 Process instruments ____________________________________ 415.9 411.8 415.4 Pumps & compressors ___________________________________ 1083.5 1084.1 1068.2 Electrical equipment ____________________________________ 563.1 561.3 558.3 Structural supports & misc. ________________________________ 760.8 764.7 796.4Construction labor _______________________________________ 337.3 335.5 335.6Buildings _____________________________________________ 594.2 591.3 593.9Engineering & supervision _________________________________ 312.2 313.0 314.3

Annual Index:

2012 = 584.6

2013 = 567.3

2014 = 576.1

2015 = 556.8

2016 = 541.7

2017 = 567.5

2018 = 603.1

2019 = 607.5

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Starting in April 2007, several data series for labor and compressors were converted to accommodate series IDs discontinued by the U.S. Bureau of Labor Statistics (BLS). Starting in March 2018, the data series for chemical industry special machinery was replaced because the series was discontinued by BLS (see Chem. Eng., April 2018, p. 76–77.)

CPI OUTPUT INDEX (2000 = 100)† CPI OUTPUT VALUE ($ BILLIONS) CPI OPERATING RATE (%)

*Due to discontinuance, the Index of Industrial Activity has been replaced by the Industrial Production in Manufacturing index from the U.S. Federal Reserve Board. †For the current month’s CPI output index values, the base year was changed from 2000 to 2012Current business indicators provided by Global Insight, Inc., Lexington, Mass.

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