Increase in manufacturing output
Norwegian manufacturing output went up 1.8 per cent from November 2016 to January 2017 compared to the previous three-month period, according to seasonally-adjusted figures. On a monthly basis, from December 2016 to January 2017, manufacturing output saw a small growth of 0.2 per cent.
|Index of production. Seasonally adjusted||Index of production. Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|January 2017 / December 2016||November 2016 - January 2017 / August 2016 - October 2016||January 2017 / January 2016|
|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||3.4||4.6||1.3||100.0|
|Extraction and related services||2.1||5.4||-0.1||67.1|
|Mining and quarrying||5.4||-2.3||32.9||0.7|
|Food, beverage and tobacco||3.4||-1.2||-1.0||5.4|
|Refined petro., chemicals, pharmac.||5.3||0.6||15.1||3.7|
|Machinery and equipment||-3.1||0.0||-19.2||2.7|
|Ships, boats and oil platforms||-3.2||4.8||-6.4||2.0|
|Electricity, gas and steam||0.4||1.5||-6.8||5.7|
The index level for Norwegian manufacturing from November 2016 to January 2017 amounted to 113 (2005=100). The corresponding figure for the previous three-month period was 111.
Three-month change: increased output in computer and electrical equipment
According to seasonally-adjusted figures, manufacturing output saw an increase of 1.8 per cent from November 2016 to January 2017, compared to the previous three-month period. Computer and electrical equipment contributed most to the overall increase, with a clear growth of 9.4 per cent. There was also an increase within basic chemicals, due to maintenance shutdown among some leading suppliers in the previous three-month period. Ships, boats and oil platforms also experienced growth, in particular related to increased activity among producers of oil platforms and modules.
On the other hand, some industries experienced a decline in the same period, like food products and beverages, as well as paper and paper products.
Output in petroleum-related manufacturing had an overall increase in this three-month period, compared to the previous one, mainly due to a low level of output in August for this analytical grouping.
Monthly change: growth in manufacturing output from December 2016 to January 2017
According to seasonally-adjusted figures, manufacturing output went up 0.2 per cent from December 2016 to January 2017. Food products, as well as the industry grouping refined petroleum, chemicals and pharmaceuticals contributed most to the overall growth. On the other hand, there was a decline in machinery and equipment as well as in ships, boats and oil platforms in the same period. For more information about production in Norwegian manufacturing in 2016, please see Statistics Norway’s article about the oil-driven decline in manufacturing in 2016 (in Norwegian).
Twelve-month change: decline in Norway, increase in the Euro area in December 2017
According to calendar-adjusted figures, Norwegian manufacturing output went down 1.9 per cent from December 2015 to December 2016. Machinery and equipment contributed most to this decline. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area had an increase of 1.3 per cent in the same period.
Three-month change: growth in total industrial production (PII)
According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, increased by 4.6 per cent from November 2016 to January 2017 compared to the previous three-month period. Extraction of crude petroleum and extraction of natural gas both saw an increase: 3.7 and 10.1 per cent respectively. For more details about oil and gas extraction for January 2017, see the press release from The Norwegian Petroleum Directorate.
Support activities for petroleum and natural gas extraction decreased by 1.8 per cent in the period November 2016 to January 2017 compared to the previous three-month period. Suppliers within this industry are negatively affected by a low investment level in the oil and gas industry. Production within Norwegian electricity supply increased by 1.5 per cent in the same period, while mining and quarrying had a decline of 2.3 per cent.
The weights in the index of industrial production (PII) are updated by the transition to a new year. The basis for the weights in the index of industrial production (PII) is value added at factor prices from the annual structure statistics for oil and gas, manufacturing, electricity and district heating for 2015. The value added figures are updated to the situation at the end of 2016 with rates of change from the quarterly national accounts, and volume figures from the Norwegian Petroleum Directorate.
Industries such as the industry group refined petroleum, basic chemicals and the pharmaceutical industry along with fabricated metal products were among the industries that had the largest increase in weights from 2016 to 2017. On the other hand, weights for machinery and equipment and repair, installation of machinery had the largest drop from 2016 to 2017. The weights for services in oil and gas extraction went up from 2016 to 2017, while the weights for crude petroleum decreased and natural gas increased.
As of January 2017, updated productivity factors will be included in the calculation of the index of industrial production (PII) covering extraction, mining, manufacturing and electricity supply. The factors are based on annual volume change in GDP per hour worked for the relevant industries and are an average from the last five years. This information is collected from the annual national accounts.
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