Index of industrial production, December 2003

The capital goods output has dropped by approximately 3 per cent. Transport equipment continues down on a further decline for the building of ships in Norway. Oil and platforms and modules have also experienced a downturn during 2003 and in the last quarter, but not at the same scale. These changes have contributed to the significant drop of 7.5 per cent in the capital goods output for the last quarter of 2003, according to weekly-adjusted figures. These changes from the last quarter of 2002, have contributed to the overall drop of 2 per cent in manufacturing in the same period.

Increase during the last quarter

The basic chemicals output has increased during the last quarter of 2003 compared with the previous one, according to seasonally adjusted figures. This is probably related to a somewhat better situation for the export of basic chemicals. Food products, beverages and tobacco have also recorded a modest upturn. This is probably caused by the situation in the Norwegian market.

Main industrial groupings in 2003

All the main industrial groupings have seen a downturn during 2003 compared with the previous year, according to weekly-adjusted figures. The other groupings have not experienced, however, the same drop as the capital goods. Electrical and optical equipment and the weak performance for transport equipment and oil platform and modules have partly contributed to these changes within capital goods. The manufacturing output dropped by almost 4 per cent during 2003 compared with the previous year.

Intermediate goods in 2003

Pulp, paper and paper products and non-ferrous metals have had a slightly better performance during the year with an increase in the production compared with the previous year. In the last quarter the pulp and paper products have, however, recorded a minor drop compared with the previous quarter, according to seasonally adjusted figures. These changes are probably caused by weak export markets. Non-ferrous metals have increased slightly during the last quarter, in somewhat the same market situation. Drop in the wood and wood products and in the rest of metal productions have contributed to the decrease in the intermediate goods output during 2003.