The index value for turnover in manufacturing was 195.2 (2005=100) in the first quarter of 2022 compared to 180.0 in the previous quarter, according to . The increase in turnover in the last quarter 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: refined petroleum, chemicals and pharmaceutical products pulls up

Total Norwegian manufacturing turnover increased by 8.4 per cent in the first quarter of 2022 compared to the fourth quarter of 2021.

Refined petroleum, chemicals and pharmaceutical products contributed the most to the increase in manufacturing turnover with an increase of 12.8 per cent. Basic metals also contributed to the increase in manufacturing turnover with an increase of 14 per cent. Price growth is a an important reason to the growth in turnover in these industries in this three-month period.

Monthly change: manufacturing turnover up in March

Seasonally-adjusted figures show that the turnover in Norwegian manufacturing increased by 0.4 per cent from February to March 2022 according to seasonally-adjusted figures.

Non-ferrous metals and the industry grouping refined petroleum, chemicals and pharmaceutical products contributed the most to the increase in manufacturing turnover. Price growth on metals and refined petroleum products was an important contributor to the growth in turnover in these industries.

Machinery and equipment and computer and electrical equipment 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 February 2022

Manufacturing turnover in the euro area increased by 2.6 percent from January to February 2022, according to seasonally-adjusted figures. Total Norwegian manufacturing turnover increased by 3.4 percent in the same period. In the other Scandinavian countries, the turnover in Denmark and Sweden increased by 2.1 and 1.3 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.