Strong investment increase in 2019
The companies’ latest investment estimates for 2019 indicate a strong growth within oil and gas, manufacturing, mining and quarrying and electricity supply. For 2020, the estimates suggest a more moderate increase.
The investment survey conducted in August suggest that total investments within oil and gas, manufacturing, mining and quarrying and electricity supply in 2019 will amount to NOK 257 billion. This is a strong increase equivalent to 15 per cent compared with the corresponding figure for 2018, given in August last year. The growth is particularly due to a strong investment upturn in the oil and gas industry. In addition, manufacturing investments are also contributing positively. For more details about investments within the oil and gas industry, please see the following article.
The companies’ newest estimates for 2020 suggest a moderate investment increase compared with the corresponding estimates for 2019. The increase in 2020 is driven by positive investment forecasts within the oil and gas industry. On the other hand, the overall increase is dampened by a clear decline within electricity supply.
Figure 1. Estimated investments collected in 3rd quarter same year
|Extraction and pipeline transport||Manufacturing, mining and quarrying||Electricity supply, gas and steam|
According to seasonally-adjusted figures, quarterly final investments had the following development from the first to the second quarter of 2019:
- Oil and gas: 4.6 %
- Manufacturing : 3.6 %
- Electricity supply: 2.3 %
Figure 2. Final investments per quarter. Seasonally adjusted. 2005=100
|Manufacturing||Electricity supply, gas and steam||Extraction and pipeline transport|