Turnover in oil and gas, manufacturing, mining and electricity supply, December 2003

Turnover in the November-December period remained more or less flat, according to seasonally adjusted figures. This trend applies to both capital goods and consumer goods, while intermediate goods went down by 1 per cent, mainly due to reduced turnover within manufacturing of basic metals in December.

Intermediate goods down 2 per cent

Total turnover within intermediate goods was affected by the decline in pulp, paper and paper products and basic chemicals, though there were signs of growth within pulp, paper and paper products and basic chemicals in the second half of 2003. Basic metals experienced a slight increase, primarily in the latter part of 2003.

Capital goods down 4 per cent

The decline in capital goods is closely connected to a weak turnover within manufacturing of fabricated metal products, oil platforms and modules and electrical and optical equipment. Although the annual comparison shows a decline in total turnover in oil platforms and modules, there was an evident increase from the second quarter and throughout 2003. Electrical and optical equipment experienced a significant decline of almost 16 per cent compared with 2002, though there were signs of improvement in the last quarter of 2003.

Consumer goods drop 4 per cent

A 5.5 per cent decline in food products is the main reason for the weak turnover in this industrial grouping. In addition a decline in textiles, wearing apparel and leather as well as publishing, printing and reproduction contributes to the decline. Publishing, printing and reproduction, however, shows signs of a weak but positive development in the last three quarters of 2003.