Nelson-Farrar Quarterly: Indexes for selected equipment items

Continuing a trend starting in 1983, the Nelson-Farrar refinery construction index rose slowly from 1,609.5 in January 2002, to 1,742.7 in December 2003. The labor component of the index rose at a rapid rate while the material component rose slowly.The labor index rose from 2,101.9 to 2,263.5 over the 2-year period, while the materials index increased 91 points, from 870.9 to 961.4.The miscellaneous equipment index varied 10 points in the 2-year comparison. The category includes pumps and compressors, electrical equipment, heat exchangers, instrument, and engines. They are thus manufac-tured items, and their costs are a measure of manufacturing efficiency. Click here to enlarge imageT...

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