Manufacturing decline in the second quarter
Production in Norwegian manufacturing decreased by 2.1 per cent in the second quarter of 2015 compared with the first quarter, according to seasonally-adjusted figures. However, on a month to month basis, from May to June 2015, the manufacturing output was more or less unchanged.
|Seasonally adjusted||Calendar adjusted1||Weights2|
|Monthly change||Three-month change||Twelve-month change|
|June 2015 / May 2015||April 2015 - June 2015 / January 2015 - March 2015||June 2015 / June 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||3.5||-1.3||2.8||100.0|
|Extraction and related services||5.2||-1.2||7.5||71.8|
|Mining and quarrying||6.8||3.7||0.1||0.6|
|Food, beverage and tobacco||-1.3||0.0||-3.6||4.3|
|Refined petro., chemicals, pharmac.||6.2||-1.0||13.5||2.0|
|Machinery and equipment||-4.5||-1.4||-3.4||2.9|
|Ships, boats and oil platforms||-3.8||-11.3||-21.2||2.3|
|Electricity, gas and steam||4.6||2.7||3.6||5.5|
The index level for Norwegian manufacturing in the second quarter of 2015 amounted to 121.0 (2005= 100). The corresponding figure for the first quarter of 2015 was 123.6.
Three-month change: declining production within oil and gas-related industries
There was a 2.1 per cent decrease in manufacturing output in the second quarter of 2015 compared with the first quarter of 2015, according to seasonally-adjusted figures. There was a production downturn in oil and gas-related industries, and especially in industries such as ships, boats and oil platforms and fabricated metal products, together with machinery and equipment. Production within ships, boats and oil platforms decreased by 11.3 percent in the second quarter of 2015 compared with the first quarter. The decline in these industries can be linked to lower investment activity in the oil and gas sector.
On the other hand, basic chemicals saw a production increase by 5.2 percent in the second quarter of 2015 compared with the first quarter. Some of the growth in this industry can be linked to planned shut down for maintenance in the first quarter for some significant producers. Non-ferrous metals also saw an increase in production in the same period.
Monthly change: practically unaltered production from May to June 2015
Manufacturing output was more or less unchanged from May to June 2015, with a minor increase by 0.1 percent, according to seasonally-adjusted figures. Machinery and equipment and ships, boats and oil platforms, together with repair and installation of machinery had a clear decline in production. Food, beverages and tobacco also saw a decrease in production in the same period.
At the same time there was a strong production increase within the industry group refined petroleum, basic chemicals and the pharmaceutical industry, which contributed to reduce the overall decline in manufacturing output. Basic metals also saw a production increase from May to June 2015.
Twelve-month change: Growth in the euro area and decline in Norway in May 2015
From May 2014 to May 2015 production in Norwegian manufacturing saw a decrease in production by 2.8 per cent, according to calendar-adjusted figures. Ships, boats and oil platforms and basic metals contributed the most to the total output decrease. Repair and installation of machinery together with machinery and equipment, saw a production upturn in the same period. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in manufacturing in the euro area increased by 2.4 per cent in the same period.
Three-month change: decline in total industrial production (PII)
The overall production index (PII) covering extraction, mining, manufacturing and electricity supply decreased by 1.3 per cent in the second quarter of 2015 compared with the first quarter, according to seasonally-adjusted figures. Extraction of crude petroleum increased by 3.1 per cent, while extraction of natural gas declined by 5.3 per cent in this period. For more details about oil and gas extraction for June 2015, see the press release from The Norwegian Petroleum Directorate.
Production within Norwegian electricity supply went up by 2.7 per cent in the second quarter of 2015 compared with the first quarter, according to seasonally-adjusted figures.