140232
statistikk
2014-11-07T10:00:00.000Z
Energy and manufacturing;National accounts and business cycles;Energy and manufacturing
en
pii, Index of industrial production, industrial production, volume indicator, intermediate goods, capital goods, consumer goods, energy goodsBusiness cycles , Manufacturing, mining and quarrying , Electricity and other energy , Oil and gas , National accounts and business cycles, Energy and manufacturing
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Index of industrial productionSeptember 2014

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Oil-driven growth in the third quarter

Production in Norwegian manufacturing increased by 1.1 per cent from the second to the third quarter of 2014, according to seasonally-adjusted figures. The quarterly growth was, however, partly offset by a 2.1 per cent output decline from August to September 2014.

Index of production. Changes in per cent and weights
Seasonally adjusted Calendar adjusted1 Weights2
Monthly change Three-month change Twelve-month change
September 2014 / August 2014 July 2014 - September 2014 / April 2014 - June 2014 September 2014 / September 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 4.4 2.4 7.7 100.0
Extraction and related services 7.8 4.3 7.8 71.9
Mining and quarrying -1.4 4.4 11.6 0.6
 
Manufacturing -2.1 1.1 2.1 22.7
Food, beverage and tobacco -1.0 -0.9 2.0 4.1
Refined petro., chemicals, pharmac. -8.6 -2.0 -9.1 2.0
Basic metals 0.7 -0.4 4.6 1.1
Machinery and equipment 1.1 4.1 10.5 3.2
Ships, boats and oil plattforms -11.2 4.7 1.0 2.4
 
Electricity, gas and steam 5.5 -10.4 7.0 4.8
Figure 1. Production development. Seasonally adjusted. Three-month moving average1. 2005=100
Figure 2. Production development in manufacturing. Seasonally adjusted and smoothed seasonally adjusted figures. 2005=100
Figure 3. Selected industries in manufacturing. Seasonally adjusted. Three-month moving average1. 2005=100
Figure 4. Selected industries in manufacturing. Seasonally adjusted, 3-month percentage change. 3. quarter / 2. quarter 2014
Figure 5. Index of production for manufacturing. Euro area and Norway (2010=100). Seasonally adjusted
Figure 1. Production development. Seasonally adjusted. Three-month moving average1. 2005=100Figure 2. Production development in manufacturing. Seasonally adjusted and smoothed seasonally adjusted figures. 2005=100Figure 3. Selected industries in manufacturing. Seasonally adjusted. Three-month moving average1. 2005=100Figure 4. Selected industries in manufacturing. Seasonally adjusted, 3-month percentage change. 3. quarter / 2. quarter 2014Figure 5. Index of production for manufacturing. Euro area and Norway (2010=100). Seasonally adjusted

The index level for Norwegian manufacturing amounted to 124.6 (2005= 100) in the third quarter of 2014. The corresponding figure for the previous quarter was 123.3.

Three-month change: high summer-activity for producers who deliver to the oil and gas sector

There was a 1.1 per cent increase in manufacturing from the second to the third quarter of 2014, according to seasonally-adjusted figures . The growth was particularly related to high activity in July and August among producers who deliver to the petroleum sector. Industries such as ships, boats and oil platforms and repair and installation of machinery had high activity levels in these two months due to a high work load among leading producers. For ships, boats and oil platforms, the growth in output was particularly related to oil platforms and modules. In addition, stable growth within machinery and equipment also contributed positively to the overall manufacturing output from the second to the third quarter. Since 2005, the industry has seen an output increase equivalent to 125 per cent. Due to a high level of order stocks the production was positive in these petroleum-related industries, despite a notable fall in new orders from the second to the third quarter. For more information, see the index of orders for manufacturing for Q3 2014 .

On the other hand, rubber, plastic and mineral products together with refined petroleum, basic chemicals and the pharmaceutical industry had a decline in production from the second to the third quarter of 2014, according to seasonally-adjusted figures.

Monthly change: clear fall in production from August to September 2014

Ships, boats and oil platforms together with refined petroleum, basic chemicals and the pharmaceutical industry saw a clear output decrease from August to September 2014, according to seasonally-adjusted figures. Completion of large projects within ships, boats and oil platforms in August is one of the factors that contribute to the negative figures for September. The downturn in refined petroleum, basic chemicals and the pharmaceutical industry was partly due to shutdowns for planned maintenance work among main producers in September 2014.

On the other hand, machinery and equipment and non-ferrous metals had a minor increase in production from August to September 2014, according to seasonally-adjusted figures.

Twelve-month change: stronger growth in Norway than in the euro area in August 2014

Production in Norwegian manufacturing went up by 5.2 per cent from August 2013 to August 2014, according to calendar-adjusted figures . The growth can particularly be related to an output increase in industries such as machinery and equipment and ships, boats and oil platforms. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in the manufacturing industries in the euro area declined by 1.5 per cent in this period.

Three-month change: solid increase in total industrial production (PII)

The overall production index (PII) covering extraction, mining, manufacturing and electricity supply increased by 2.4 per cent from the second to the third quarter of 2014, according to seasonally-adjusted figures. In this period, extraction of crude petroleum increased by 8.2 per cent, while extraction of natural gas went up by 1.0 per cent. On a month to month basis, from August to September 2014, extraction of crude petroleum and extraction of natural gas increased by 4.8 and 7.1 per cent respectively, according to seasonally-adjusted figures. For more details about oil and gas extraction for September 2014, see the press release from The Norwegian Petroleum Directorate .

Production within Norwegian electricity supply decreased by 10.4 per cent from the second to the third quarter of 2014, according to seasonally-adjusted figures.