Minor fall in manufacturing output
Production in Norwegian manufacturing decreased by 0.4 per cent from September to November 2014 compared with the previous three-month period, according to seasonally-adjusted figures. On a month to month basis, from October to November 2014, the output in manufacturing also declined by 0.4 per cent.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|November 2014 / October 2014||September 2014 - November 2014 / June 2014 - August 2014||November 2014 / November 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||-1.9||3.2||4.2||100.0|
|Extraction and related services||-3.2||5.4||1.9||71.9|
|Mining and quarrying||0.7||0.9||18.7||0.6|
|Food, beverage and tobacco||-0.5||-1.1||2.9||4.1|
|Refined petro., chemicals, pharmac.||-1.8||-6.9||-2.2||2.0|
|Machinery and equipment||0.6||2.2||10.0||3.2|
|Ships, boats and oil plattforms||0.2||-4.1||9.2||2.4|
|Electricity, gas and steam||2.8||0.1||7.0||4.8|
The index level for Norwegian manufacturing for the period September to November 2014 amounted to 124.5(2005= 100). The corresponding figure for the previous three-month period was 125.0.
Three-month change: minor decrease in manufacturing
There was a 0.4 per cent decrease in manufacturing from September to November 2014 compared with the previous three-month period, according to seasonally-adjusted figures. The industry grouping refined petroleum, basic chemicals and the pharmaceutical industry together with rubber, plastic and mineral products had a production decline in this period. The downturn in refined petroleum, basic chemicals and the pharmaceutical industry was partly due to shutdowns for planned maintenance work among main producers. In addition, ships, boats and oil platforms also saw an output decline compared with the previous three-month period. However the production level in the industry still remains high and the decline must thus be seen in context with extraordinary activity in the previous three-month period.
On the other hand, an increase in machinery and equipment, and fabricated metal products from September to November 2014, mitigated the decline in the overall manufacturing output. Machinery and equipment continues to have a high level of activity, and the industry has since 2005 seen a production increase equivalent to 127 per cent
Monthly change: fall in manufacturing from October to November 2014
Refined petroleum, basic chemicals and the pharmaceutical industry as well as rubber, plastic and mineral products faced a production decrease from October to November 2014, according to seasonally-adjusted figures. Within basic chemicals - a part of the industry grouping refined petroleum, basic chemicals and the pharmaceutical industry- the decline is related to shutdown for maintenance work among leading producers. Moreover, non –ferrous metals also had a decrease in production, partly due to weaker demand abroad.
On the other hand, industries such as repair and installation of machinery, and furniture and manufacturing n.e.c had an increase in production in the same period.
Twelve-month change: stronger growth in Norway than in the euro area in October 2014
Production in Norwegian manufacturing went up by 4.6 per cent from October 2013 to October 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 increased by 1.3 per cent in the same period.
Three-month change: growth in total industrial production (PII)
The overall production index (PII) covering extraction, mining, manufacturing and electricity supply increased by 3.2 per cent from September to November 2014 compared with the previous three-month period, according to seasonally-adjusted figures. In this period, extraction of crude petroleum and extraction of natural gas increased by 1.7 and 10.6 per cent respectively. For more details about oil and gas extraction for November 2014, see the press release from The Norwegian Petroleum Directorate.
Production within Norwegian electricity supply increased 0.1 per cent from September to November 2014 compared with the previous three-month period, according to seasonally-adjusted figures.