This is an archived release.
Stable industrial turnover
The total turnover in Norwegian manufacturing increased by 2.7 per cent from the fourth quarter of 2011 to the first quarter of 2012, according to seasonally-adjusted figures.
Growth in industrial turnover in 1st quarter 2012
Changes in industrial turnover are a result of changes in production volume and prices. In addition, sales from stocks and delivery schedules could influence turnover. Within industries where large projects are completed, it is usual that these are registered when they are delivered. En example of this is the industry of building ship and oil platforms. In the first quarter of 2012, several large deliveries were registered, which have been produced over a longer period of time. This contributed to a disparity between turnover and the industrial production index.
Meanwhile, seasonally-adjusted figures showed an increase in turnover within food products by 4.2 per cent from the fourth quarter of 2011 to the first quarter of 2012. This was due to higher production volume and prices. Wood and wood products went up 8.2 per cent due to increased production volume, see the Index of production . Building of ship and oil platforms showed a 4.8 per cent increase, as mentioned before, due to several large deliveries in the first quarter of 2012.
Turnover up from February to March
Seasonally-adjusted figures showed that total Norwegian manufacturing turnover went up by 1.8 per cent from February to March. Machinery and equipment increased by 7.4 per cent, while basic metal grew 5.0 per cent. Food products rose by 5.8 per cent and this was the largest contributor to the monthly change.
Increase from March 2011 to March 2012
Unadjusted figures showed an increase of 7.0 per cent in total manufacturing turnover in March 2012 compared to March 2011. The domestic market grew in turnover by 10.3 per cent, while the corresponding figure within the export market was 2.2 per cent. Machinery and equipment showed a solid increase, up 23 per cent. Fabricated metal products went up 16 per cent and food products grew by 13 per cent.
Industries with reduced turnover were non-ferrous metals with a fall of 10.7 per cent, while paper and paper products fell by 11.6 per cent.
|Original series.1January-March 2012||Changes in per cent. January-March 2011-January-March 2012||Original series.1March 2012||Changes in per cent. March 2011-March 2012||Changes in per cent. Seasonally adjusted. October 2011-December 2011- January 2012-March 2012|
|The overall turnover||439 870||9.6||152 425||6.9||4.2|
|Extraction and related services||204 962||22.6||70 814||19.8||9.2|
|Manufacturing, mining and quarrying||200 002||8.1||72 289||7.4||3.0|
|Domestic market||118 753||9.4||43 503||10.7||4.1|
|Export market||81 249||6.3||28 786||2.8||1.1|
|Electricity, Gas and Steam Supply||34 906||-29.2||9 322||-42.5||0.1|
|Main industrial groupings|
|Intermediate goods||93 304||8.1||33 866||7.9||3.2|
|Capital goods||55 531||13.3||20 358||9.9||2.4|
|Consumer goods||49 124||5.6||18 044||8.5||2.3|
|Energy goods||241 913||10.1||80 158||5.4||8.7|
Interpretation of seasonally-adjusted figures
In order to facilitate the interpretation of the short-term development, statistics on turnover publishes three-month moving averages of the seasonally-adjusted figures. We normally compare the latest non-overlapping three-month periods (for instance October to December compared with January to March).
The relationship between production and turnover
The development in the turnover can be related to changes in both volume and prices in the different industries. Production to stocks and sales from stocks can also happen. Reporting of large deliveries of capital goods can contribute to differences in the development in the index of production and the statistics on turnover.
Find detailed figures from Turnover in oil and gas, manufacturing, mining and electricity supply