Decline in manufacturing output
Norwegian manufacturing output fell by 3.2 per cent from August to October 2016, compared to the previous three-month period, according to seasonally-adjusted figures. Petroleum-related manufacturing remains the main contributor to the decline. From September to October 2016, manufacturing output was unchanged.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|October 2016 / September 2016||August 2016 - October 2016 / May 2016 - July 2016||October 2016 / October 2015|
|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||10.7||-3.5||0.7||100.0|
|Extraction and related services||17.5||-4.1||2.2||71.4|
|Mining and quarrying||-2.5||4.3||8.8||0.5|
|Food, beverage and tobacco||-2.5||-0.6||-3.7||4.7|
|Refined petro., chemicals, pharmac.||-4.2||4.8||7.4||2.4|
|Machinery and equipment||0.3||-7.8||-17.3||3.0|
|Ships, boats and oil platforms||5.7||-12.0||-0.3||1.8|
|Electricity, gas and steam||3.7||-1.8||0.8||4.9|
The index level for Norwegian manufacturing from August to October 2016 amounted to 110.8 (2005=100). The corresponding figure for the previous three-month period was 114.5.
Three-month change: low activity in petroleum-related manufacturing continues
According to seasonally-adjusted figures, manufacturing output saw a decline of 3.2 per cent from August to October 2016, compared to the previous three-month period. This notable decrease is particularly related to low production activity in August. The overall decline in manufacturing is still mainly due to a low level of production in petroleum-related manufacturing. Low levels of investment in the oil and gas industry is still the main reason behind the low activity level and layoffs within this analytical grouping. Ships, boats and oil platforms declined the most, by 12 per cent. Moreover, the following industries showed a strong decrease in this period:
- machinery and equipment
- computer and electrical equipment
- repair and installation of machinery
On the other hand, the decrease was partially dampened by growth within the industry grouping refined petroleum, chemicals and pharmaceutical products, mainly due to a high level of production of pharmaceutical products.
Monthly change: unchanged manufacturing output from September to October 2016
According to seasonally-adjusted figures, manufacturing output remained almost unchanged from September to October 2016. In this period, ships, boats and oil platforms saw a pronounced increase, while food and food products as well as basic chemicals experienced a decline. The decline within food and food products can partly be explained by low production of fish and fish products due to forced production in previous months. Within basic chemicals, the decline was due to planned maintenance shutdowns among some leading suppliers.
Twelve-month change: notable drop in Norway, growth in the Euro area in September 2016
According to calendar-adjusted figures, Norwegian manufacturing output fell by 5.6 per cent from September 2015 to September 2016. Machinery and equipment together with repair and installation of machinery contributed most to this decline. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the euro area increased by 1.3 per cent in the same period.
Three-month change: clear decrease in total industrial production (PII)
According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply fell by 3.5 per cent from August to October 2016 compared to the previous three-month period. Extraction of crude petroleum decreased by 1.6 per cent, while extraction of natural gas saw a notable decline of 9.7 per cent. For more details about oil and gas extraction for October 2016, see the press release from The Norwegian Petroleum Directorate.
Support activities for petroleum and natural gas extraction fell by 5.6 per cent from August to October 2016 compared to the previous three-month period. Suppliers within this industry are also affected negatively by a low level of investment in the oil and gas industry. Production within Norwegian electricity supply fell 1.8 per cent in the same period, while mining and quarrying rose 4.3 per cent.
New indicators for petroleum-related supplier industries are established in StatBank. These indicators are based on the analytical groupings which were presented in the article Strong growth for petroleum-related manufacturing and support activities from 2010 to 2013 (only in Norwegian).
The three groupings that will be published monthly are:
• Petroleum-related manufacturing and support activities
• Petroleum-related manufacturing (only industries covered by section C Manufacturing)
• Manufacturing excluded petroleum-relate industries
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