Continued decline in manufacturing output
Production in Norwegian manufacturing decreased by 0.5 per cent from December 2014 to February 2015 compared with the previous three-month period, according to seasonally-adjusted figures. On a month to month basis, from January to February 2015, the output in manufacturing increased by 1.2 per cent.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|February 2015 / January 2015||December 2014 - February 2015 / September 2014 - November 2014||February 2015 / February 2014|
|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||2.6||-1.9||1.9||100.0|
|Extraction and related services||3.5||-3.0||2.1||71.8|
|Mining and quarrying||-5.9||-3.6||-2.7||0.6|
|Food, beverage and tobacco||0.7||-0.6||1.0||4.3|
|Refined petro., chemicals, pharmac.||5.5||7.7||4.8||2.0|
|Machinery and equipment||-0.3||0.0||3.6||2.9|
|Ships, boats and oil plattforms||-0.4||-4.6||-3.3||2.3|
|Electricity, gas and steam||2.6||-0.1||8.3||5.5|
The index level for Norwegian manufacturing for the period December 2014 to February 2015 amounted to 123.6 (2005= 100). The corresponding figure for the previous three-month period was 124.2.
Three-month change: decrease in ships, boats and oil platforms
There was a 0.5 per cent decrease in manufacturing from December 2014 to February 2015 compared with the previous three-month period, according to seasonally-adjusted figures. The downturn is partly related to a production decline in ships, boats and oil platforms in this period. In addition, food and food products and non-ferrous metals also saw an output decline from December 2014 to February 2015. The decline in non-ferrous metals was partly due to lower demand from abroad.
On the other hand, the industry grouping refined petroleum, basic chemicals and the pharmaceutical industry had a considerable production increase in this period. The increase is partially due to maintenance work stoppages among large manufacturers in the previous three-month period. Repair and installation of machinery also saw a production increase in this period.
Monthly change: increase from January to February 2015
Production in manufacturing increased by 1.2 per cent from January 2015 to February 2015, according to seasonally-adjusted figures. The increase is mainly due to higher activity in the industry grouping refined petroleum, basic chemicals and the pharmaceutical industry and food and food products. Conversely, repair and installation of machinery and basic metals saw a production decline.
Twelve-month change: stronger growth in the euro area than in Norway in January 2015
Production in Norwegian manufacturing saw a slight increase of 0.1 per cent from January 2014 to January 2015, according to calendar-adjusted figures. The decline in growth can be related to an output decrease in industries such as non-ferrous metals and computer and electrical equipment. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in manufacturing in the euro area increased by 1.0 per cent in the same period.
Three-month change: decline in total industrial production (PII)
The overall production index (PII) covering extraction, mining, manufacturing and electricity supply decreased by 1.9 per cent from December 2014 to February 2015 compared with the previous three-month period, according to seasonally-adjusted figures. In this period, extraction of crude petroleum decreased by 1.7 per cent, while extraction of natural gas went down by 3.6 per cent. For more details about oil and gas extraction for February 2015, see the press release from The Norwegian Petroleum Directorate.
Production within Norwegian electricity supply was mainly unchanged, decreasing only 0.1 per cent from December 2014 to January 2015 compared with the previous three-month period, according to seasonally-adjusted figures.
New information from some of the industries measured by hours worked necessitated a recalculation of the index of industrial production for January 2015. The figure for manufacturing in total is more or less unchanged, while there are differences in some of the industries. Information from late received questionnaires was included in the recalculation for January 2015. The general picture that was conveyed in the January release has not changed.