Strong decline in total investments for 2021

Thursday the 12^th of March 2020 the Norwegian government introduced actions against the spreading of the Corona-virus in Norway. Several establishments within oil and gas, manufacturing, mining & quarrying and electricity supply have been affected by these measures. This has led to a change in the investment pattern compared to what we usually observe. Hence, the seasonal adjustment routine during the Corona- crisis is done in such a way that the figures during the crisis (the 1^st quarter), are not included in the basis for the calculation of the seasonal pattern. Technically, in the seasonal adjustment routine this is done by specifying the 1^st quarter as an outlier. The seasonal adjustment routine of Statics Norway is in line with the recommendations of Eurostat.

The trend figure for the 1^st quarter which is calculated in the seasonal adjustment routine, will only be a projected value, and is therefore difficult to interpret in the 1^st quarter.]

Due to the Corona-situation and lay- offs the response rate for the 2nd quarter is lower than usual. The response rate for the parts of the survey covering manufacturing, mining & quarrying and electricity supply is 93 per cent. The corresponding figure for the same quarter last year was 97 per cent. Hence, this leads to somewhat more uncertainty in the figures.

The oil and gas industry has a separate data collection, and the response rate for this part of the survey is 94 per cent. The response rate for the corresponding quarter last year was 96 per cent.