The index value for turnover in manufacturing was 178,1 (2005=100) in the period August-October 2021 compared to 171,8 in the previous three-month period, according to . The increase in manufacturing turnover the last three-month period is fueled by higher prices and high demand from both the home- and export market.

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: food products and refined petroleum, chemicals and pharmaceutical products pulls up

Total Norwegian manufacturing turnover increased by 3.7 per cent from August to October 2021 compared with the previous three-month period.

The increase in turnover in the three-month period is mainly due to a broad rise in prices for industrial products, while production volume was stable during the period. A wide rise in prices and a high turnover in both the export and home market was an important factor to this growth.

Food and beverages industry together with refined petroleum, chemicals and pharmaceutical products contributed the most to the increase in manufacturing turnover with an increase of 5.6 and 10 per cent respectively. Metal products also contributed to the positive development in the manufacturing turnover.

Monthly change: manufacturing turnover decreases in October

Seasonally-adjusted figures show that the turnover in Norwegian manufacturing decreased by 4.5 per cent from September to October 2021 according to seasonally-adjusted figures.

The industry grouping building of ships and platforms and the industry grouping refined petroleum and fabricated metal products contributed the most to the negative development in manufacturing turnover with its decrease of 35 and 20 per cent respectively. Food and beverages products also contributed to this development.

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 September 2021

Manufacturing turnover in the euro area increased by 0.9 percent from August to September 2021, according to seasonally-adjusted figures. Total Norwegian manufacturing turnover increased by 5.5 percent in the same period. In the other Scandinavian countries, the turnover in Denmark and Sweden increased by 7.2 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.