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

The index value for turnover in manufacturing was 151.1 (2005=100) in the third quarter of 2014, compared to 150.1 in the previous quarter, according to seasonally-adjusted figures . While the export market enjoyed an increase, the domestic market index remained almost unchanged.

Three-month change: machinery and equipment pulling up total manufacturing turnover

Although the overall turnover in manufacturing remained unchanged in the third quarter compared to the second quarter of 2014, some of the industries had significant increases or decreases in turnover. Seasonally-adjusted figures showed that machinery and equipment as one of the biggest suppliers to the oil and gas sector had an increase of 15.3 per cent. This industry also showed growth in production volume during the same period, according to  the index of industrial production . In addition, the basic metal industry edged up 5.5 per cent, mainly as a result of a growth in non-ferrous metals. According to  the producer price index , these industries also benefitted from a significant positive trend in prices in the metal market during this period. Repair, installation of machinery also edged up 2.2 per cent in the third quarter of 2014.

On the contrary, the grouping refined petroleum, chemical and pharmaceutical industries had a decline of 7.6 per cent in this period. A fall in turnover for the building of ships, boats and oil platforms, as well as a slight decrease in food products helped to pull down the total turnover in the third quarter of 2014.

Monthly change: decline in September 2014 after a high growth in August

Turnover in most industries showed a reduction from August to September, which led to a total decrease of 6.8 per cent in Norwegian manufacturing with a negative trend for both the domestic and export market.

The biggest contributors pulling down total manufacturing turnover were building of ships, boats and oil platforms, industry and machinery and equipment, which recorded a decrease of 29.6 and 24 per cent respectively. The high level of activities among a few leading suppliers in August can account for the September decline in turnover.

The reduction in manufacturing was further enhanced by a fall in the basic metal industry and the fabricated metal product industry, by 3.3 and 4.4 per cent respectively. The grouping refined petroleum, chemical and pharmaceutical industries also edged down 8.3 per cent. Food products accounted for about 24 per cent of total industry turnover, and showed a slight increase in this period.

On the contrary, repair, installation of machinery rose 2.4 per cent from August to September 2014.

Twelve-month change: lower¹ level of turnover compared to August 2013

Calendar-adjusted figures showed a decrease of 4.4 per cent in total manufacturing turnover from September 2013 to September 2014. While the domestic market faced a decline of 9.2 per cent, the export market enjoyed a 5.2 per cent growth.

The grouping refined petroleum, chemical and pharmaceutical industries showed a strong decline of 24.9 per cent, which is followed by a fall in computer and electrical equipment (13 per cent) and fabricated metal products (7 per cent).

Moreover, notable decreases in the industry ships, boats and oil platforms, basic metal as well as repair, installation of machinery helped to pull down the total turnover during the last twelve months.

Conversely, food products recorded an increase in the total turnover since September 2013.

Monthly change: fall in the euro area, growth in Norway in August 2014

Norwegian manufacturing turnover went up by 6.3 per cent from July to August 2014, according to seasonally-adjusted figures, while manufacturing turnover in the euro area showed a slight decrease of 1.0 per cent, according to Eurostat .

¹ Changed from higher to lower, 7 November 2014, 10.30 am.