Chemical Engineering August 2023 - 52

Economic Indicators
2021
950
CHEMICAL ENGINEERING PLANT COST INDEX (CEPCI)
(1957-59 = 100)
May '23
Prelim.
CE Index ______________________________________________
Equipment ____________________________________________
Heat exchangers & tanks _________________________________
Process machinery _____________________________________
Pipe, valves & fittings ____________________________________
Process instruments ____________________________________
Pumps & compressors ___________________________________
Electrical equipment ____________________________________
Structural supports & misc. ________________________________
Construction labor _______________________________________
Buildings _____________________________________________
Engineering & supervision _________________________________
809.4
1,022.0
841.6
1,033.8
1,400.7
564.9
1,448.0
796.7
1,147.6
365.6
817.9
313.9
Apr. '23
Final
803.3
1,014.3
832.8
1,041.8
1,397.5
567.2
1,387.9
796.5
1,128.3
362.9
808.5
313.8
900
May '22
Final
831.1
1,056.4
898.9
1,075.3
1,494.7
575.0
1,273.3
756.6
1,177.7
354.3
847.4
311.5
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.)
CURRENT BUSINESS INDICATORS
CPI output index (2017 = 100) ____________________________________________________
CPI value of output, $ billions _____________________________________________________
CPI operating rate, % __________________________________________________________
Producer prices, industrial chemicals (1982 = 100) ____________________________________
Industrial Production in Manufacturing (2017 =100)* ___________________________________
Hourly earnings index, chemical & allied products (1992 = 100) ____________________________
Productivity index, chemicals & allied products (1992 = 100) ______________________________
CPI OUTPUT INDEX (2000 = 100)†
(2017 = 100)
100
105
110
75
80
85
90
95
J F M A M J J A S O N D
2400
2300
1800
1900
2000
2100
2200
J F M A M J J A S O N D
LATEST
May '23 = 99.8
Apr. '23 = 2,361.3
May '23 = 79.7
May '23 = 323.2
May '23 = 100.1
Apr. '23 = 219.8
May '23 = 91.7
Annual Index:
2015 = 556.8
2016 = 541.7
2017 = 567.5
2018 = 603.1
2019 = 607.5
2020 = 596.2
2021 = 708.8
2022 = 816.0
850
800
750
700
650
600
550
500
J F M A M J J A S O N D
PREVIOUS
Apr. '23 = 99.8
Mar. '23 = 2,360.3
Apr. '23 = 79.8
Apr. '23 = 328.6
Apr. '23 = 100.0
Mar. '23 = 216.9
Apr. '23 = 91.6
CPI OUTPUT VALUE ($ BILLIONS)
60
65
70
75
80
85
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 Global Insight, Inc., Lexington, Mass.
CURRENT TRENDS
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he preliminary value for the CE Plant
Cost Index (CEPCI; top) for May
2023 (most recent available) is higher
than the previous month's value. The
rise is the second consecutive inccrease.
In May, upticks were observed
in all four subindices - Equipment,
Buildings, Construction Labor and Engineering
& Supervision. The current
CEPCI value now sits at 2.6% lower
than the corresponding value from May
2022. Meanwhile, the Current Business
Indicators (middle) show no change
in the CPI output index for May, and
a slight decrease in the CPI operating
rate for May, as well as a small increase
in the CPI value of output for April 2023.
Also, producer prices for industrial
chemicals fell in May.
AUGUST 2023
T
Mar. '23 = 99.4
Feb. '23 = 2,421.0
Mar. '23 = 79.5
Mar. '23 = 326.7
Mar. '23 = 99.1
Feb. '23 = 210.7
Mar. '23 = 92.5
YEAR AGO
Apr. '22 = 101.2
Mar. '22 = 2,478.1
Apr. '22 = 81.8
Apr. '22 = 374.2
Apr. '22 = 100.4
Mar. '22 = 200.6
Apr. '22 = 91.6
CPI OPERATING RATE (%)
2022
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2023
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Chemical Engineering August 2023

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