Flat trend in manufacturing output

The index level for Norwegian manufacturing in the period September-November 2019 amounted to 119.5 (2005=100). The corresponding figure for the previous three-month period was 119.4. After steady growth since May 2018, the long term trend for the recent months shows that the output increase has leveled out (see figure 1).

Three-month change: Ships, boats and oil platforms continue production increase

According to seasonally-adjusted figures, manufacturing output was nearly unchanged in the period September-November 2019 compared with the previous three-month period. The industry ships, boats and oil platforms contributed the most to pull up the overall manufacturing output, with an increase of 3.9 per cent. Thus, this industry continued the almost uninterrupted increase it has experienced since the beginning of 2018. The industry food products also experienced production growth from September to November compared to the last three-month period.

On the other hand, basic metals as well as the industry grouping rubber, plastic and mineral products contributed to dampen the overall production development with a decline of 2.3 and 2.4 per cent respectively. 

Monthly change: marginal decline in output from October to November

According to seasonally-adjusted figures, manufacturing output saw a marginal decline of 0.4 per cent from October to November 2019. Food products contributed the most to this decline, while ships, boats and oil platforms experienced an increase and thus contributed to dampen the overall decrease. 

Small production decrease in the Euro area in October 

Estimated figures from Eurostat, the EU’s statistical office, indicate that manufacturing output in the Euro area declined by 0.5 per cent from September to October 2019. In the same period, Norwegian manufacturing was almost unchanged. Both Sweden and Denmark experienced a decline in output in the same period, by 1.9 and 0.6 per cent respectively.

For more key figures about the European business sector, see Eurostat’s newly published information page about European economic statistics. 

Three-month change: Production from a new oil field contributed to increase in overall production index

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply saw an increase of 2.5 per cent in the period September-November 2019 compared with the previous three-month period. Extraction of crude petroleum increased with around 18 per cent, which can partly be explained by production from a new oil field that opened in this period. On the other side, extraction of natural gas decreased by almost 16 per cent. For more details about oil and gas extraction in this three-month period, see the press release from The Norwegian Petroleum Directorate. 

Within support activities for petroleum and natural gas extraction, there was a clear output increase equivalent to 4 per cent in the period September-November 2019 compared with the previous three-month period. This growth is partly related to an investment increase in the Norwegian oil and gas sector.

In the same period, mining and quarrying saw a decline of 2.3 per cent, while Norwegian electricity supply increased by 2.2 per cent.