Small output decline in manufacturing

The index level for Norwegian manufacturing from February to April 2018 amounted to 114.5 (2005=100). The corresponding figure for the previous three-month period was 114.9.

Three-month change: refined petroleum, chemicals and pharmaceuticals contributed to decline

According to seasonally-adjusted figures, manufacturing output went down 0.3 per cent from February to April 2018 compared to the previous three-month period. The industry grouping refined petroleum, chemicals and pharmaceuticals decreased by 3.4 per cent and contributed the most to the overall decline in manufacturing output. Several other industries also contributed to the decline, amongst others, wood and wood products as well as basic metals, which went down 5.4 and 3.1 per cent respectively.

On the opposite side, petroleum-related industries such as machinery and equipment, together with ships, boats and oil platforms contributed to dampen the overall decline in manufacturing output. Machinery and equipment went up 3.5 per cent, while ships, boats and oil platforms saw a strong output increase of 7.4 per cent. The analytical grouping petroleum-related manufacturing had an overall growth of 1.3 per cent from February to April 2018 compared with the previous three-month period (see figure 3).

 

Monthly change: increase in manufacturing output from March to April 2018

According to seasonally-adjusted figures, manufacturing output went up 1.1 per cent from March to April. In contrast to the three-month change, the industry grouping refined petroleum, chemicals and pharmaceuticals contributed most to the overall manufacturing increase on a monthly basis, followed by wood and wood products.

Repair and installation of machinery saw a decline in activity level and contributed the most to dampen the overall increase from March to April. The decline in this industry was partly related to the completion of some large projects.

Small increase in output in the Euro area in March 2018

Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the euro area  increased by 0.4 per cent from February to March 2018. Manufacturing output in Norway was more or less unchanged in the same period.

In two of our neighboring countries, Sweden and Denmark, the development in manufacturing output pointed in opposite directions from February to March. Sweden saw an increase of 0.5 per cent, while Denmark had a decline of 0.4 per cent.

Three-month change: growth in total industrial production (PII)

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply increased by 0.7 per cent from February to April 2018 compared with the previous three-month period. Extraction of crude petroleum saw a decline of 0.8 per cent, and extraction of natural gas decreased by 1.5 per cent. For more details about oil and gas extraction for April 2018, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, there was a decline of 0.4 per cent from February to April 2018 compared with the previous three-month period. In the same period, mining and quarrying, as well as production within Norwegian electricity supply was almost unchanged.