Minor changes in manufacturing
Production in Norwegian manufacturing had minor changes, and decreased 0.1 per cent from March to May 2015 compared with the previous three-month period, according to seasonally-adjusted figures. However, on a month to month basis, from April to May 2015, the manufacturing output saw a clear decrease of 2.1 per cent.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|May 2015 / April 2015||March 2015 - May 2015 / December 2014 - February 2015||May 2015 / May 2014|
|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||0.7||-1.0||4.2||100.0|
|Extraction and related services||2.6||-1.8||9.8||71.8|
|Mining and quarrying||-16.4||-0.6||-12.2||0.6|
|Food, beverage and tobacco||-0.3||1.6||-0.3||4.3|
|Refined petro., chemicals, pharmac.||-0.9||2.4||-0.8||2.0|
|Machinery and equipment||-0.8||0.8||3.3||2.9|
|Ships, boats and oil platforms||-4.5||-5.5||-16.4||2.3|
|Electricity, gas and steam||0.6||2.3||-3.3||5.5|
The index level for Norwegian manufacturing from March to May 2015 amounted to 123.3 (2005= 100). The corresponding figure for the previous three-month period was 123.4.
Three-month change: decrease in oil and gas-related industries
Norwegian manufacturing output had minor changes, and declined 0.1 per cent from March to May 2015 compared with the previous three-month period, according to seasonally-adjusted figures. There was a production decrease in oil and gas-related industries such as ships, boats and oil platforms and fabricated metal products. The output in ships, boats and oil platforms was record high in August 2014, but is now at its lowest level since the first quarter of 2013. The decline in these industries can be linked to lower investment activity in the oil and gas sector. In addition, basic metals also saw an output decrease in this period.
On the other hand, there was a production increase in industries such as food and food products and basic chemicals. The increase in food and food products is related to higher demand abroad for fish and fish products. For basic chemicals, the growth is partially due to stops for maintenance work among large manufacturers in the previous period. Moreover, computer and electrical equipment also had a production growth in the same period.
Monthly change: clear decline from April to May 2015
Output in manufacturing decreased 2.1 per cent from April to May 2015, according to seasonally-adjusted figures. The largest contribution to the drop came from ships, boats and oil platforms. There was also a production decrease in industries such as wood and wood products, and in computer and electrical equipment. On the other hand, there was an output increase in rubber, plastic and mineral production in the same period.
Twelve-month change: stronger growth in the euro area than in Norway in April 2015
Production in Norwegian manufacturing had minor changes, and saw an increase of 0.1 per cent from April 2014 to April 2015, according to calendar-adjusted figures. Machinery and equipment together with computer and electrical equipment had an output increase in this period. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in manufacturing in the euro area increased by 0.9 per cent in the same period.
Three-month change: decrease in total industrial production (PII)
The overall production index (PII) covering extraction, mining, manufacturing and electricity supply decreased by 1.0 per cent from March to May 2015 compared with the previous three-month period, according to seasonally-adjusted figures. Extraction of crude petroleum increased by 1.8 per cent, while extraction of natural gas declined by 5.9 per cent in this period. For more details about oil and gas extraction for May 2015, see the press release from The Norwegian Petroleum Directorate.
Production within Norwegian electricity supply went up by 2.3 per cent from March to May 2015 compared with the previous three-month period, according to seasonally-adjusted figures.