The index value for turnover in manufacturing was 183.4 (2005=100) in the period November 2021 to January 2022 compared to 178.1 in the previous three month period, according to . The increase in turnover in the last three-month period is fueled by higher prices.

Figure 1. Index of turnover for manufacturing. Seasonally adjusted. Three-month moving average¹. 2005=100

¹ The index value for period m is the average of period m, m-1 and m-2.

Three-month change: basic metals pulls up

Total Norwegian manufacturing turnover increased by 4.0 per cent the period December 2021 to February 2022 compared to the previous three-months period.

Basic metals contributed the most to the increase in manufacturing turnover with an increase of 16.5 per cent. The industry grouping refined petroleum, chemicals and pharmaceutical products also contributed to the increase in manufacturing turnover with an increase of 8.8 per cent. Price growth is a an important reason to the growth in turnover in these industries in this three-month period.

Food products contributed the most to curbing the positive development in manufacturing turnover with a decrease of 2.4 per cent.

Monthly change: manufacturing turnover further up in February

Seasonally-adjusted figures show that the turnover in Norwegian manufacturing increased by 4.8 per cent from January to February 2022 according to seasonally-adjusted figures. This increase follows an increase of 4.6 in the previous month. Most of the increase came from the domestic market.

Many industries contributed to the increase, but the industry grouping refined petroleum, chemicals and pharmaceutical products contributed the most to the increase in manufacturing turnover. Price growth for refined petroleum products was an important contributor to the growth in turnover in this industry grouping.

Repair, installation of machinery contributed the most to curbing the increase in manufacturing turnover.

Figure 2. Selected industries. Seasonally adjusted. Three-month moving average¹

¹ The index value for period m is the average of period m, m-1 and m-2.

Monthly change: increase in manufacturing turnover in the euro area in January 2022

Manufacturing turnover in the euro area increased by 2.6 percent from December 2021 to January 2022, according to seasonally-adjusted figures. Total Norwegian manufacturing turnover increased by 4.6 percent in the same period. In the other Scandinavian countries, the turnover in Denmark and Sweden increased by 3.9 and 2.8 per cent respectively, according to Eurostat.

Thursday 12th of March 2020 the Norwegian government introduced actions against the spreading of the Corona-virus in Norway. Several manufacturing establishment have been affected by these measures, and this has led to a change in the activity 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 (from March), are not included in the basis for the calculation of the seasonal pattern. Technically, in the seasonal adjustment routine this is done by specifying March and the following months as outliers.

This implies that normal trend figures will not be calculated, and instead the trend will follow the seasonal adjusted figures. One important exception is the last observation, where the trend will be an extrapolated figure where the last observation is not included. The trend figures from, and including, March 2020 will therefore be difficult to interpret.

The seasonal adjustment routine of Statics Norway is in line with the recommendations of Eurostat.