The index level for Norwegian manufacturing in the fourth quarter of 2022 amounted to 118.5 (2005=100). The corresponding figure for the previous quarter was 118.8. The long-term trend has been more stable in the last few months (see figure 1).

Figure 1. Production development in manufacturing. Seasonally adjusted and smoothed seasonally adjusted figures¹. 2005=100

¹ March 2020 to March 2022 are specified as outliers in the seasonal adjustment routine. Hence, this period are not included in the figure.

Three-month change: decrease within the industry for food products

According to In order to facilitate the interpretation of the short-term development, the index of production publishes three-month moving averages of the seasonally-adjusted figures. We normally compare the latest non-overlapping three-month periods. Seasonally-adjusted monthly changes must be interpreted with caution., manufacturing output had a decrease of 0.3 per cent in the fourth quarter of 2022 compared to the previous quarter. The industry for food products contributed the most to overall output with a decrease of 1.8 per cent.

On the other hand, the overall output decrease was dampened by a growth of 5.8 per cent within the industry ships, boats and oil platforms.