Index of industrial production, December 2007

High investments in the oil and gas activity in Norway the last years and the favourable order situation for building and fitting of supply boats for the Norwegian oil sector contributed to a record level of capital goods output in 2007. Oil platforms and modules and transport equipment experienced a 9.0 and 7.5 per cent growth respectively from 2006 to 2007. Furthermore, output in machinery and equipment rose by 12.0 per cent. This development is a result of increased demand from abroad for Norwegian engineering products.

Record high level of manufacturing output in 2007

The significant growth in capital goods production in 2006 and 2007 contributed to the record high level of manufacturing output in 2007, according to working-day adjusted figures.

The output in intermediate goods rose by 3.0 per cent in 2007 compared to 2006. Basic chemicals rose by 4.0 per cent and other non-metallic mineral products increased by 3.9 per cent. Wood and wood products also experienced a growth in output. The output in pulp, paper and paper products, on the other hand, decreased by 4.4 per cent. This was due to lower demand from abroad and increased competition.

Increased output in food products

The production of consumer goods rose by 1.5 per cent in 2007 compared to 2006, according to working-day adjusted figures. Output in food products rose by 2.0 per cent. There were only small changes in output in publishing, printing and reproduction.

Decreasing output in the fourth quarter of 2007

According to seasonally adjusted figures, the manufacturing output decreased by 0.5 per cent in the fourth quarter of 2007 compared to the previous quarter. Output in capital and intermediate goods also fell, while there was a modest increase in the production of consumer goods.

Seasonally adjusted figures for December 2007

Seasonally adjusted figures for December 2007 must be interpreted with caution. Christmas and New Year have an impact on production levels, especially in oil platform and ship building and in engineering industries. These effects were more difficult to predict in December 2007 than in previous years.

Norway and the euro-zone

There was a 2.9 per cent growth in the Norwegian manufacturing output from November 2006 to November 2007, according to working-day adjusted figures. Manufacturing production in the euro-zone increased by 2.3 per cent in the same period, according to figures from published by Eurostat.

Tables

Published tables