High production in manufacturing continues
Production in Norwegian manufacturing increased by 0.9 per cent from March to May 2014 compared with the previous three-month period, according to seasonally-adjusted figures. On a month to month basis, from April to May 2014, the output in manufacturing decreased by 0.3 per cent.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|May 2014 / April 2014||March 2014 - May 2014 / December 2013 - February 2014||May 2014 / May 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||-5.9||0.7||-4.0||100.0|
|Extraction and related services||-9.7||-1.4||-11.4||71.9|
|Mining and quarrying||2.6||10.5||-3.1||0.6|
|Food, beverage and tobacco||-2.2||4.2||4.7||4.1|
|Refined petro., chemicals, pharmac.||1.7||0.9||2.9||2.0|
|Machinery and equipment||1.9||1.8||9.1||3.2|
|Ships, boats and oil plattforms||1.5||2.7||3.7||2.4|
|Electricity, gas and steam||1.3||13.9||15.9||4.8|
The index level for Norwegian manufacturing for the period March to May 2014 amounted to 122.2 (2005= 100). The corresponding figure for the previous three-month period was 121.1.
Three-month change: increase in manufacturing
There was a production increase in industries such as machinery and equipment and ships, boats and oil platforms from March to May 2014 compared with the previous three-month period, according to seasonally-adjusted figures . Since 2005, production in these two industries has increased by 114 and 110 per cent respectively. Furthermore, food and food products also saw a solid output increase, particularly due to high production of fish and fish products. This growth can partly be related to high demand abroad for salmon products.
Moreover, basic metals also had a production growth in this three-month period due to increased production of ferrous metals. On the other hand, basic chemicals saw a decline in production in the same period. The downturn in basic chemicals was partly due to shutdowns for planned maintenance work among main producers in April 2014.
Monthly change: decrease in production from April to May 2014
Rubber, plastic and mineral products, together with fabricated metal products, and repair and installation of machinery had an output decrease from April to May 2014, according to seasonally-adjusted figures. In addition, food and food products and wood and wood products also saw a decline in production. On the other hand, machinery and equipment, and ships, boats and oil platforms had an increase in production in the same period.
Twelve-month change: stronger growth in euro area than in Norway in April 2014
Production in Norwegian manufacturing went up by 1.7 per cent from April 2013 to April 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 2.4 per cent in this period.
Three-month change: increase in total industrial production (PII)
The overall production index (PII) covering extraction, mining, manufacturing and electricity supply increased by 0.7 per cent from March to May 2014 compared with the previous three-month period, according to seasonally-adjusted figures. Extraction of crude petroleum decreased by 5.8 per cent, while extraction of natural gas went up by 4.4 per cent in this period. On a month to month basis, from April to May 2014, extraction of crude petroleum and extraction of natural gas went down by 12.4 and 5.6 per cent respectively. Several fields on the Norwegian continental shelf experienced a fall in production due to planned maintenance work in May 2014, according to The Norwegian Petroleum Directorate .
Production within Norwegian electricity supply increased by 13.9 per cent from March to May 2014 compared with the previous three-month period, according to seasonally-adjusted figures.