Economic Indicators

2022 2023 2024

Download the CEPCI two weeks sooner at www.chemengonline.com/pci
950

CHEMICAL ENGINEERING PLANT COST INDEX® (CEPCI) 900

(1957–59 = 100) May ’24 Apr. ’24 May ’23 Annual Index: 850
Prelim. Final Final
2016 = 541.7
CE Index_______________________________________________ 800.0 799.5 808.8 800
Equipment _____________________________________________ 1,005.3 1,005.0 1,021.3 2017 = 567.5
Heat exchangers & tanks __________________________________ 801.6 805.4 841.6
Process machinery ______________________________________ 1,033.0 1,036.5 1,033.8 2018 = 603.1 750

Pipe, valves & fittings _____________________________________ 1,356.2 1,344.7 1,399.8 2019 = 607.5
Process instruments _____________________________________ 580.5 575.4 564.5 700
Pumps & compressors ____________________________________ 1,543.4 1,542.9 1,438.3 2020 = 596.2
Electrical equipment _____________________________________ 827.7 823.2 796.4 2021 = 708.8 650
Structural supports & misc. ________________________________ 1,115.9 1,123.1 1,147.6
Construction labor ________________________________________ 376.6 374.7 364.6 2022 = 816.0
Buildings ______________________________________________ 803.8 804.7 818.2 2023 = 797.9 600
Engineering & supervision __________________________________ 315.7 316.2 314.4
Starting in April 2007, several data series for labor and compressors were converted to accommodate series IDs discontinued by the 550
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.)
500
J F M A M J J A S O N D

CURRENT BUSINESS INDICATORS LATEST PREVIOUS YEAR AGO

CPI output index (2017 = 100)_____________________________________________________ May '24 = 99.7 Apr. '24 = 98.6 Mar. '24 = 99.0 May '23 = 99.7
CPI value of output, $ billions _____________________________________________________ Apr. '24 = 2,473.6 Mar. '24 = 2,445.6 Feb. '24 = 2,423.5 Apr. '23 = 2,354.9
CPI operating rate, % ___________________________________________________________ May '24 = 78.5 Apr. '24 = 77.7 Mar. '24 = 78.2 May '23 = 79.5
Producer prices, industrial chemicals (1982 = 100) _____________________________________ May '24 = 301.2 Apr. '24 = 303.5 Mar. '24 = 297.8 May '23 = 323.3
Industrial Production in Manufacturing (2017 =100)* ____________________________________ May '24 = 99.8 Apr. '24 = 99.0 Mar. '24 = 99.4 May '23 = 99.8
Hourly earnings index, chemical & allied products (1992 = 100) _____________________________ Apr. '24 = 225.0 Mar. '24 = 227.0 Feb. '24 = 226.0 Apr. '23 = 219.5
Productivity index, chemicals & allied products (1992 = 100)_______________________________ May '24 = 92.2 Apr. '24 = 92.7 Mar. '24 = 93.1 May '23 = 93.1

CPI OUTPUT INDEX (2017 = 100)† CPI OUTPUT VALUE ($ BILLIONS) CPI OPERATING RATE (%)
110 2500 85

105
2400 80
100
2300
95 75
2200
90
70
2100
85
65
80 2000

75 1900 60
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D

*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 2012 to 2017
Current business indicators provided by S&P Global Market Intelligence, New York, N.Y.

CURRENT TRENDS

T he preliminary value for the CE

Plant Cost Index (CEPCI; top)
FREE On Demand Webinars for May 2024 (most recent available)
CHEMICAL rose slightly compared to the previous
ENGINEERING
ESSENTIALS FOR THE CPI PROFESSIONAL
month’s value. The final value for April
2024 was itself upwardly revised. The
small uptick in the May CEPCI was a
Learn about the industry’s critical result of increases in the Equipment
topics by viewing the latest and Construction Labor subindices.
The Buildings and Engineering & Su-
On Demand webinars. pervision subindices saw very small
declines. The current CEPCI value now
For a list of FREE sits at 1.1% lower than the correspond-
ing value from May 2023. Meanwhile,
webinars, visit the Current Business Indicators (mid-
chemengonline.com/webcasts dle) show increases in the CPI output
index and the CPI operating rate for
May 2024, and an increase in the CPI
value of output for April 2024.

52
28180 CE Economic indicator On Demand Webinar House Ad.indd 1 CHEMICAL ENGINEERING 5/24/16
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4:43 PM AUGUST 2024
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