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Continued decrease in manufacturing output
Norwegian manufacturing output decreased by 1.0 per cent from May to July 2016, compared to the previous three-month period, according to seasonally-adjusted figures. However, manufacturing output increased by 3.7 per cent from June to July.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|July 2016 / June 2016||May 2016 - July 2016 / February 2016 - April 2016||July 2016 / July 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||5.5||-1.0||0.5||100.0|
|Extraction and related services||6.8||-0.5||0.8||71.4|
|Mining and quarrying||16.9||4.0||7.9||0.5|
|Food, beverage and tobacco||1.9||-0.8||1.2||4.7|
|Refined petro., chemicals, pharmac.||-6.4||5.9||4.3||2.4|
|Machinery and equipment||1.4||-5.4||-18.1||3.0|
|Ships, boats and oil platforms||3.5||2.6||4.8||1.8|
|Electricity, gas and steam||-1.3||-5.8||1.0||4.9|
The index level for Norwegian manufacturing from May to July 2016 amounted to 114.7 (2005=100). The corresponding figure for the previous three-month period was 115.9.
Three-month change: machinery and equipment contributes the most to the decline
According to seasonally-adjusted figures, the manufacturing output saw a decrease of 1.0 per cent in the period May to July 2016 compared to the previous three-month period. Machinery and equipment and repair and installation of machinery and equipment contributed the most to this, with a decline of 5.4 and 7.1 per cent respectively. Computer and electrical equipment also experienced a decline in this three-month period, compared to the previous three-month period.
On the other hand, the industry grouping refined petroleum, chemicals and pharmaceutical products increased by 5.9 per cent. Furthermore, ships, boats and oil platforms experienced an increase also in this three-month period, compared to the previous three-month period.
Petroleum-related manufacturing had an overall decrease of 3.7 per cent in the same period. For more information on this aggregate, see the attached information box below and the previously written article on a new grouping of petroleum-related manufacturing and support activities (only in Norwegian).
Monthly change: increased output in several industries
According to seasonally-adjusted figures, the manufacturing output saw an increase of 3.7 per cent from June to July 2016. This increase comes after a significant decrease from May to June. While several industries contributed to the increase, the biggest contributions came from food and beverages, as well as rubber, plastic and mineral products. A high demand facing producers of plastic was the main reason for the increased output within rubber, plastic and mineral products. Ships, boats and oil platforms also saw an increase from June to July. The industry grouping refined petroleum, chemicals and pharmaceutical products on the other hand, saw a production decrease equivalent to 6.4 per cent.
Twelve-month change: drop in Norway, growth in the Euro area in July 2016
According to calendar-adjusted figures production in Norwegian manufacturing dropped by 6.5 per cent from June 2015 to June 2016. Machinery and equipment and repair and installation of machinery contributed the most to this decrease. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in manufacturing in the euro area increased by 0.7 per cent in the same period.
Three-month change: fall in total industrial production (PII)
According to seasonally-adjusted figures, the overall production index (PII) covering extraction, mining, manufacturing and electricity supply decreased by 1.0 per cent in the period May to July 2016, compared to the previous three-month period. Extraction of crude petroleum increased by 1.3 per cent while extraction of natural gas fell by 3.1 per cent. For more details about oil and gas extraction for July 2016, see the press release from The Norwegian Petroleum Directorate.
Support activities for petroleum and natural gas extraction saw an increase of 1.7 per cent in the period May to July 2016, compared to the previous three-month period. Seasonally-adjusted figures also show that production within Norwegian electricity supply fell by 5.8 per cent in the same period, while mining and quarrying saw an increase of 4.0 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
In order to include the production volumes from two oil and gas fields on the Norwegian continental shelf, where production was started in January 2016, it has been necessary to update the indices for extraction of oil and extraction of gas. The indices are updated from January to June 2016. This update has led to an upward adjustment of the production of oil and natural gas in the first two quarters of 2016. The update also affects the overall index (PII) and the main industrial grouping energy goods.
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