Solid growth in second quarter
Production in Norwegian manufacturing went up by 1.3 per cent in the second quarter compared with the first quarter of 2014, according to seasonally-adjusted figures. On a month to month basis, from May to June 2014, the output in manufacturing increased by 1.7 per cent.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|June 2014 / May 2014||April 2014 - June 2014 / January 2014 - March 2014||June 2014 / June 2013|
|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||5.7||-1.1||3.2||100.0|
|Extraction and related services||9.0||-3.6||-0.8||71.9|
|Mining and quarrying||-3.3||6.2||-11.7||0.6|
|Food, beverage and tobacco||1.1||4.4||5.6||4.1|
|Refined petro., chemicals, pharmac.||-4.8||-1.9||-4.6||2.0|
|Machinery and equipment||1.2||1.5||8.6||3.2|
|Ships, boats and oil plattforms||1.6||3.9||-0.5||2.4|
|Electricity, gas and steam||-0.9||13.3||11.7||4.8|
The index level for Norwegian manufacturing for the second quarter of 2014 amounted to 123.2 (2005= 100), which is a record high level. The corresponding figure for the previous quarter was 121.6.
Three-month change: high manufacturing output in second quarter of 2014
The output growth from the first to the second quarter of 2014 can particularly be related to a production increase in food and food products. This growth is partly due to high production of fish and fish products as a result of high demand abroad for salmon products.
There was also a production increase in industries such as machinery and equipment and ships, boats and oil platforms in the second quarter compared with the first quarter of 2014, according to seasonally-adjusted figures. Since 2005, production in these two industries has increased by 115 and 114 per cent respectively. Furthermore, repair and installation of machinery also saw an output growth due to an increase in new orders in the first parts of 2014.
On the other hand, basic chemicals and non- ferrous metals had a decline in production in the second quarter of 2014, compared with the previous quarter.
Monthly change: solid production growth from May to June 2014
Repair and installation of machinery had a strong output growth from May to June 2014, according to seasonally-adjusted figures. In addition, rubber, plastic and mineral products, together with fabricated metal products, and ships, boats and oil platforms also saw an increase in production. On the other hand, refined petroleum, chemicals and the pharmaceutical industry had a decrease in production in the same period.
Twelve-month change: stronger growth in Norway than in the euro area in May 2014
Production in Norwegian manufacturing went up by 2.5 per cent from May 2013 to May 2014, according to calendar-adjusted figures . The growth can particularly be related to an output increase in industries such as food and food products and machinery and equipment. Estimated figures from Eurostat indicate that production in the manufacturing industries in the euro area increased by 0.9 per cent in this period.
Three-month change: decrease in total industrial production (PII) in the second quarter
The overall production index (PII) covering extraction, mining, manufacturing and electricity supply decreased by 1.1 per cent in the second quarter compared with the first quarter of 2014, according to seasonally-adjusted figures. Extraction of crude petroleum declined by 6.9 per cent, while extraction of natural gas decreased by 0.2 per cent in this period. On a month to month basis, from May to June 2014, extraction of crude petroleum and extraction of natural gas increased by 14.0 and 0.6 per cent respectively. Some fields on the Norwegian continental shelf experienced a fall in production due to planned maintenance work and technical difficulties in June 2014, according to The Norwegian Petroleum Directorate .
Production within Norwegian electricity supply increased by 13.3 per cent in the second quarter compared with the first quarter of 2014, according to seasonally-adjusted figures.