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Moderate increase in manufacturing
Production in Norwegian manufacturing went up by 0.7 per cent from December 2012 to February 2013 compared with the previous three-month period, according to seasonally-adjusted figures. The (overall) index of industrial production (PII) decreased due to a fall in extraction of natural gas in this period.
| Seasonally adjusted | Calender adjusted1 | Weights2 | ||
|---|---|---|---|---|
| Monthly change | Three-month change | Twelve-month change | ||
| February 2013 / January 2013 | December 2012 - February 2013 / September 2012 - November 2012 | February 2013 / February 2012 | ||
| 1Adjusted for working-days and for public holidays in Norway. | ||||
| 2The weights are updated annually, and are valid for the entire year. | ||||
| Extraction, mining, manufacturing and elec | -1.9 | -3.4 | -10.7 | 100.0 |
| Extraction and related services | -3.4 | -2.4 | -12.1 | 73.5 |
| Mining and quarrying | 8.3 | 0.7 | -6.7 | 0.6 |
| Manufacturing | 0.9 | 0.7 | 4.2 | 20.1 |
| Food, beverage and tobacco | -0.3 | 0.9 | 3.1 | 3.8 |
| Refined petro., chemicals, pharmac. | 0.3 | -2.5 | -2.3 | 2.0 |
| Basic metals | -2.1 | -1.5 | -8.1 | 1.1 |
| Machinery and equipment | 1.5 | 3.9 | 16.0 | 2.8 |
| Ships, boats and oil plattforms | 4.0 | 4.3 | 19.0 | 2.1 |
| Electricity, gas and steam | -1.5 | 0.0 | -11.9 | 5.9 |
Extraction of natural gas went down by 4.5 per cent, while extraction of crude oil increased by 1.2 per cent from December 2012 to February 2013 compared with the previous three-month period, according to seasonally-adjusted figures. Several fields on the Norwegian continental shelf experienced technical difficulties in this period. For further details, refer to the press release from The Norwegian Petroleum Directorate.
Seasonally-adjusted figures from December 2012 to February 2013 show a further increase in output for industries such as machinery and equipment, and ships, boats and oil platforms. In addition, repair and installation of machinery also had an increase in production due to a higher workload. On the other hand, industries like basic metals experienced a downturn in production. This can be related to weak demand abroad and high stocks of non-ferrous metals internationally. The differences between industries linked to the Norwegian oil and gas industries and more traditional Norwegian export industries have thereby continued to increase. There has also been an increase in the production of food and food products from December 2012 to February 2013 compared with the previous three-month period, according to seasonally-adjusted figures.
Strong increase in manufacturing from February 2012 to February 2013
The output in manufacturing saw a growth of 4.2 per cent from February 2012 to February 2013, according to calendar-adjusted figures. Industries like machinery and equipment, together with ships, boats and oil platforms had a strong production growth, while wood and wood products and basic metals had a clear drop in production in the same period.
Growth in manufacturing from January 2013 to February 2013
The production in Norwegian manufacturing went up by 0.9 per cent from January 2013 to February 2013 according to seasonally-adjusted figures. There has been a production increase in industries such as machinery and equipment, and ships, boats and oil platforms. On the other hand, paper and paper products together with basic metals saw a decline in production.
Norway and the euro area
There was a 2.5 per cent increase in Norwegian manufacturing output from January 2012 to January 2013, according to calendar-adjusted figures. Industrial production in the euro area decreased by 2.9 per cent in the same period, according to figures published by Eurostat.
Decrease in production within electricity supply from February 2012 to February 2013
The production within Norwegian electricity supply decreased by 13.3 per cent from February 2012 to February 2013, according to unadjusted figures.
Interpretation of seasonally-adjusted figuresOpen and readClose
In order to facilitate the interpretation of the short-term development, the index of production publishes three-month moving averages of the seasonally-adjusted figures. We normally compare the latest non-overlapping three-month periods, for instance December 2012 to February 2013 compared with September to November 2012. Seasonally-adjusted monthly changes must be interpreted with caution.
Recalculation of the Index of industrial production for January 2013Open and readClose
Weights for 2013 which where used in the calculation of the Index of industrial production for January 2013 have been updated in the survey for February. This is due to substantially higher final figures for value added at factor prices linked to extraction of crude oil and natural gas than the preliminary figures used in the survey for January. As a result, the weights for extraction and related services have increased further compared to the other industries. New information has also caused some minor changes in the weights for manufacturing and mining and quarrying. In order to keep the weight basis constant throughout all months in 2013, the index of industrial production has been recalculated. However, the overall figures for Norwegian manufacturing were unchanged. The figures for some industries within manufacturing have altered slightly after the recalculations. Information from questionnaires received after the deadline for the January survey has also been included in the recalculations of January 2013.
Contact
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Production and turnover
E-mail: prodoms@ssb.no