Industrial Spending Seen Rising 5.5% In '08
Industrial Info Resources is forecasting a 5.55% increase in total investment value (TIV) for North American industrial projects in 2008 when compared with 2007. The forecast is based on research identifying thousands of projects scheduled to begin construction in 2008. These projects are in various stages of development that include pre-planning, design, permitting, funding submittal, capital approval and construction. For North America, more than 5,300 major projects with a TIV of $401 billion have been identified to begin construction in 2008. Industrial Info is forecasting that about $245 billion of that total will actually take place by the end of 2008 after adjustments are made from project fallouts because of cancellations and schedule changes.
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