INDUSTRY & BUSINESS Business C o n s i d e r e d , C a p i t a l S p e n d i n g in Chemicals a n d Allied Products Holds Up W e l l 5Q0
40Q 3G0 209 MB
1st Qtr.
2nd Qtr. 3rd Qtr1956
4th Qtr.
1st Qtr.
2nd Qtr. 3rd Qtr. 1957
4th Qtr.
1st Qtr. 2nd Qtr. 1958
totaled $1.72 billion in capital spend ing—down slightly from t h e level fore cast t h r e e months ago (C&EN, Dec. Over-all 1958 outlays drop some $ 5 billion be 2 3 , 1957, page 17) b u t u p sharply over t h e $1.46 billion of 1956. Current esti low \ 5 7 , but chemicals remain relatively high mates p u t total 1958 spending at $1.62 billion. First quarter chemical outlays are -DITSIXESSMKN ΝΌΤΕ two things from spending rate by 10%—its first decrease n o w pegged at $428 million ($441 mil the latest government reports: in eight years. lion h a d been predicted three months All in all t h e survey shows that de a g o ) , second quarter a t $415 million. » Recent c a p i t a l investment boom is clines in n e w plant a n d equipment out Comparative 1957 figures are $353 a n d over. lays, which began with the fourth quar $435 million. • Chemical firms a r e pushing a h e a d ter of 1957, will continue into 1958's Individual chemical firms' plans for with their high spending programs. second half. These lessened programs t h e year are mixed. For example, Joint Commerce D e p a r t m e n t - S E C toll t h e death knell for t h e 1955-57 American Potash plans $8 million surveys, made Between late January capital investment boom, which lifted spending, against only $6.3 million last industrial expansion spending almost year. On t h e other side of the scale, and early M arch 7 p e g total n e w plant Hooker has tightened somewhat—fore and equipment outlays for 1958 at 1 3 % 4 0 % over 1954. While setting a record in nearly every casting only $10 million for '58 outlays, below last year's level. More specifi cally, a $5 billion drop t o the $32 bil case, final 1957 figures actually proved d o w n from $15.1 million in '57. W . R. slightly disappointing. T h e over-all G r a c e sees over-all corporate spending lion level. x c Xearly even' major industry g r o u p rise of 5 % over 1956 was \ / /o lower a b o u t equaling 1957's record $60 mil expects to reduce its spending from last than that projected a year ago a n d lion; b u t only $20 million is earmarked year. Some sharp examples: nonfer- was d u e to the sluggish final three for domestic chemical spending, down FOUS metals, off 4 0 % ; iron a n d steel, months of the year. T h e seasonally ad $ 5 million from last year. Air Reduc tion spent over $29 million in '57, a n d d o w n 25
