Turnover in oil and gas, manufacturing, mining and electricity supply, July 2014

The index value for turnover in manufacturing was 148.6 (2005=100) in the period May to July 2014, compared to 153.0 in the previous three-month period, according to seasonally-adjusted figures .

Three-month change: notable fall in building of ships, boats and oil platforms

Seasonally-adjusted figures showed that the biggest contributor to the decline in manufacturing turnover was the building of ships, boats and oil platforms industry, which has a share of ca. 8.3 per cent of the total turnover. The deliveries of completed ships and large projects from February to April 2014 caused a 13.6 per cent fall in this industry from May to July 2014. Moreover, the rubber, plastic and mineral products industry decreased by 7.7 per cent.

Most of the important industries remained nearly unchanged or showed very slight changes, either negative or positive. However, a 2.5 per cent increase was recorded for basic metals, mainly as a result of a growth in non-ferrous metals. According to the producer price index , these industries also showed a rise in prices.

Monthly change: growth in turnover from June to July

Total Norwegian manufacturing turnover rose 1.5 per cent from June to July 2014, according to seasonally-adjusted figures. Both the domestic and export market enjoyed an increase.

Turnover in most industries increased from June to July. The basic metal industry benefitted from a positive trend in prices in the metal market, which led to a growth of 1.2 per cent. This was followed by the fabricated metal products industry, with a solid growth of 8.8 per cent.

On the other hand, the building of ships, boats and oil platforms, as well as computer and electrical equipment had a decrease in turnover, of 8.4 and 2.2 per cent respectively.

Twelve-month change: lower level of turnover compared to July 2013

Calendar-adjusted figures showed a decrease of 3.6 per cent in total manufacturing turnover from July 2013 to July 2014. Both the domestic and export market showed a downturn in manufacturing turnover, by 5.0 and 1.2 per cent respectively.

The reduced turnover in machine repair and installation, and the building of ships, boats and oil platforms contributed strongly to the overall decline in manufacturing turnover. Moreover, the grouping refined petroleum, chemical and pharmaceutical industries also had a noticeable decline in this period, which edged down total manufacturing turnover. The paper and paper products industry faced a strong decrease of 37.1 per cent.

On the contrary, basic metal and fabricated metal products increased by 8.9 and 3.5 per cent respectively and helped to partially offset the negative trend in the total turnover.

Monthly change: slight growth in the euro area, fall in Norway

Norwegian manufacturing turnover went down by 2.6 per cent from May to June 2014, according to seasonally-adjusted figures, while manufacturing turnover in the euro area showed a slight increase of 0.7 per cent, according to Eurostat .