Continued increase in manufacturing output
Production in Norwegian manufacturing increased by 0.7 per cent from March to May 2016 compared with the previous three-month period, according to seasonally-adjusted figures. The production decline that started autumn 2014 has now leveled out. From April to May 2016, the manufacturing output also saw an increase of 0.2 per cent.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|May 2016 / April 2016||March 2016 - May 2016 / December 2015 - February 2016||May 2016 / May 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||0.1||-0.2||-0.6||100.0|
|Extraction and related services||0.4||-1.0||-0.1||71.4|
|Mining and quarrying||-1.5||14.1||-3.5||0.5|
|Food, beverage and tobacco||-0.7||-1.5||-1.5||4.7|
|Refined petro., chemicals, pharmac.||11.0||0.3||16.1||2.4|
|Machinery and equipment||-1.3||-5.0||-18.9||3.0|
|Ships, boats and oil platforms||1.2||6.9||-3.1||1.8|
|Electricity, gas and steam||-2.5||1.3||3.0||4.9|
The index level for Norwegian manufacturing from March to May 2016 amounted to 116.1 (2005=100). The corresponding figure for the previous three-month period was 115.3.
Three-month change: continued increase in production of ships, boats and oil platforms
According to seasonally-adjusted figures, the manufacturing output saw an increase of 0.7 per cent from March to May 2016 compared with the previous three-month period. Building of ships, boats and oil platforms contributed the most to the overall growth, with an increase of 6.9 per cent. The industry wood and wood products, together with non-ferrous metals also contributed to the total output increase in manufacturing. As can be seen in figure 2, the downturn has now levelled off after a considerable decline since the autumn of 2014. A new publication concerning the industry production in 2015 includes an explanation of how less use of contract labour has contributed to the downturn that has now flattened out.
On the other hand, production declined within machinery and equipment by 5.0 per cent, and thereby contributed to dampen the total output increase. There was also a production decline in food and beverages and basic chemicals in this period.
Monthly change: increase in manufacturing production from April to May 2016
According to seasonally-adjusted figures, the manufacturing output saw a minor increase of 0.2 per cent from April to May 2016. This is due to increased output within some central businesses in the refined petroleum, chemicals and the pharmaceutical grouping. At the same time, there was a modest increase amongst several divisions in manufacturing from April to May.
Repair and installation of machinery and equipment saw a decrease in production of 2.7 per cent from April to May. This contributed to dampen the total monthly increase in manufacturing.
Twelve-month change: pronounced drop in Norway, growth in the euro area in April 2016
According to calendar-adjusted figures production in Norwegian manufacturing dropped by 5.2 per cent from April 2015 to April 2016. Machinery and equipment together with repair and installation of machinery contributed the most to the total output decline. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in manufacturing in the euro area increased by 2.2 per cent in the same period.
Three-month change: minor 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 0.2 per cent from March to May 2016 compared with the previous three-month period. Extraction of crude petroleum decreased by 3.2 per cent while extraction of natural gas increased by 2.2 per cent in this period. For more details about oil and gas extraction for May 2016, see the press release from The Norwegian Petroleum Directorate.
Support activities for petroleum and natural gas extraction saw a production decline equivalent to 1.1 per cent from March to May 2016 compared with the previous three-month period. Producers within this industry are strongly related to the oil and gas industry, and the production decline should therefore be seen in conjunction with the declining investment activity within this industry.
Seasonally-adjusted figures also show that production within Norwegian electricity supply increased by 1.3 per cent in the same period. Production within mining and quarrying also increased in the same period, by 14.1 per cent.
From October 2015, figures for Services in oil and gas extraction are published. According to SIC2007, Services in oil and gas extraction is grouped in section B Mining and quarrying. Producers within this industry supply, among other things, services related to drilling in exploration, appraisal and production wells, together with other services related to offshore activities such as installation of floating and fixed structures both above and below the sea floor. The time series is from the year 2010. This industry has always been a part of the aggregate Extraction and related services, but now its time series is also published separately in the data bank and tables.
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