Unchanged manufacturing output

The index level for Norwegian manufacturing in the period February-April 2019 amounted to 118.3 (2005=100). The corresponding figure for the previous three-month period was 118.2. Smoothed seasonally-adjusted figures now indicate a slightly increasing trend the last three months (see figure 1).

Three-month change: growth in petroleum-related manufacturing

According to seasonally-adjusted figures, manufacturing output was more or less unchanged in the period February-April 2019, compared with the previous three-month period. Industries such as computer and electrical equipment, as well as ships, boats and oil platforms saw a clear output increase this period, up 2.8 and 7.1 per cent respectively. Overall, petroleum-related manufacturing saw an increase of 3.1 per cent (see figure 2).

On the other hand, food products and the industry grouping refined petroleum, chemicals and pharmaceuticals contributed to pull the overall output in the opposite direction. The two both saw a decline of 2 per cent.

Monthly change: increase in manufacturing output from March to April 2019

According to seasonally-adjusted figures, overall manufacturing output had an increase of 2.2 per cent from March to April 2019. There was growth within several of the industries, and among those who contributed most to the overall increase we find food products, repair and installation of machinery as well as construction of ships, boats and oil platforms.

Flat development in the Euro area, decline in Norway in March 2019

Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area was almost unchanged from February to March 2019. In the same period, Norwegian manufacturing output saw an output decline of 0.7 per cent.

Manufacturing output in Sweden saw a decline of 1.9 per cent in the same period, while there was an increase of 1 per cent in Denmark.

Three-month change: clear decline in extraction of crude petroleum

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply saw a clear drop of 4.4 per cent in the period February-April 2019 compared with the previous three-month period. Extraction of crude petroleum decreased strongly by 6.9 per cent, while extraction of natural gas had a decline of 1.9 per cent. For more details about oil and gas extraction for April 2019, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, there was an output increase equivalent to 3.8 per cent in the period February-April 2019 compared with the previous three-month period. The growth is partly related to an investment increase in the Norwegian oil and gas sector. 

Mining and quarrying also saw a production growth of 3.1 per cent in the same period, while output within Norwegian electricity supply went down with as much as 9.6 per cent. The decline in electricity supply must be seen in context with a relatively mild winter, particularly in February and March.