First Quarter 2007 Industrial Project Activity Tops 2006 Levels

Project spending has increased 30 percent over 2006 levels for each month in the first quarter, according to Industrial Info Resources.

According to research by Industrial Info Resources, industrial project activity is higher for the first quarter of 2007 than the same period in 2006.

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Industrial project spending increased 30 percent for each month in the first quarter 2007 over 2006 levels, the research showed.

By sector, those showing the largest growth over 2006 include: Alternative Fuels, which increased 1,145 percent; Oil & Gas Transmission, which rose 212 percent; and Petroleum Refining, which increased 120 percent, the report said.

Those sectors showing negative growth over 2006 include: Oil & Gas Production, which dropped 31 percent and Chemical Processing, which slipped 22 percent, according to Industrial Info.