Power Plant Projects Put on Hold
The number of shelved and canceled generation projects is on the rise, according to data from the Platts NEWGen database, Boulder, Colo. Projects comprising more than 89,000MW were shelved or canceled from January through July of this year. In 2001, developers tabled or canceled more than 60,000MW of capacity, which is twice as much as in 2000.
Orders for Electrical Products on the Rise
American factories enjoyed the biggest jump in orders for costly durable goods in nine months, offering some hope the long-awaited recovery in U.S. capital spending may be on its way. The July durables rise far exceeded Wall Street's expectations of a much weaker 1.2% rise and followed a revised 4.5% drop in June orders that left many analysts worried the economy would double-dip back into recession. Based on data from the Department of Commerce's Monthly Wholesale Trade Survey, Annual Wholesale Trade Survey, and administrative records, total sales and inventory estimates for electrical goods have enjoyed a moderate increase since last year.
