Fall in manufacturing turnover
Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing decreased by 1 per cent from the fourth quarter of 2012 to the first quarter of 2013. This was partly due to the development in the export market.
|Monthly change||Three-month change||Twelve-month change||NOK million|
|March 2013 / February 2013||January 2013 - March 2013 / October 2012 - December 2012||March 2013 / March 2012||March 2013|
|Extraction, mining, manufacturing and elec||0.6||-3.9||-7.2||141 688|
|Extraction and related services||-0.4||-8.7||-15.3||60 422|
|Mining and quarrying||8.3||7.6||-16.5||932|
|Food, beverages and tobacco||1.2||-0.8||-9.0||14 999|
|Refined petro., chemicals, pharmac.||-2.0||3.1||-1.5||12 755|
|Basic metals||-5.1||-4.4||-21.5||4 514|
|Machinery and equipment||-9.7||-5.3||-6.5||6 042|
|Ships, boats and oil plattforms||6.3||-6.7||18.1||6 467|
|Electricity, gas and steam||1.3||-4.5||37.8||12 842|
The domestic market showed a stable development. This is the second quarter in a row with a negative development in the total turnover. The decrease was biggest within the industries building of ships and platforms and the machine and equipment industry, where the decrease was 6.7 and 5.3 per cent respectively. The turnover in these industries lies at a high level and is at a considerably higher level than after the finance crisis. These industries also have considerable unfilled orders. Basic metals reports reduced turnover in the same period. The fall here was 4.3 per cent. Falling prices and weaker market conditions can explain this.
The grouping refined petroleum, chemicals and pharmaceuticals curbed the decline in the total turnover, with an increase of 3.1 per cent in the same period. Other industries that did the same were fabricated metal products and repair, installation of machinery.
Machinery and equipment drags turnover down in March
Seasonally-adjusted figures showed that total Norwegian manufacturing turnover fell by 1.3 per cent from February to March 2013. Machinery and equipment was the biggest contributor to the development, with a decline of 9.7 per cent. A pronounced fall in turnover was also registered within wood and wood products, which had a decrease of 17.4 per cent. Other industries contributing to this decreased turnover were basic metals and chemical products, where the decrease in turnover was 5.1 and 6.4 per cent respectively.
Industries that curbed the decline in the total turnover were fabricated metal products and building of ships and oil platforms, which fell by 19.7 and 6.3 per cent respectively from February to March.
Manufacturing turnover down from March 2012 to March 2013
Unadjusted figures showed a decrease of 4.9 per cent in total manufacturing turnover in March 2013 compared to March 2012. Turnover in the export market was reduced by 13.6 per cent. Within the domestic market, turnover was up 1.2 per cent. The biggest contribution to the decline in turnover was in food products, with a decrease of 9.5 per cent. Basic metals was also a big contributor to this decrease, with a decrease of 21.6 per cent.
Conversely, industries with an increased turnover from March 2012 to March 2013 were building of ships and platforms and repair, installation of machinery, with an increase of 18.1 and 15.2 per cent respectively.
Norway and the euro area
Seasonally-adjusted figures show that Norwegian manufacturing turnover went down 0.3 per cent from December to January 2013. Manufacturing turnover in the euro area went down 0.1 per cent in the same period, according to figures published by Eurostat.
In order to facilitate the interpretation of the short-term development, statistics on turnover publishes three-month moving averages of the seasonally-adjusted figures. We normally compare the latest non-overlapping three-month periods, for instance January to March 2013 compared with October to December 2012. Seasonally-adjusted monthly changes must be interpreted with caution.