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Record high levels in manufacturing
Production in Norwegian manufacturing went up by 2.5 per cent in the second quarter compared with the first quarter of 2013, according to seasonally-adjusted figures. According to seasonally-adjusted figures for the second quarter of 2013, the overall output in Norwegian manufacturing is now above the record levels seen before the financial crisis (June 2008).
| Seasonally adjusted | Calender adjusted1 | Weights2 | ||
|---|---|---|---|---|
| Monthly change | Three-month change | Twelve-month change | ||
| June 2013 / May 2013 | April 2013 - June 2013 / January 2013 - March 2013 | June 2013 / June 2012 | ||
| 1Adjusted for working-days and for public holidays in Norway. | ||||
| 2The weights are updated annually, and are valid for the entire year. | ||||
| Extraction, mining, manufacturing and elec | 0.5 | 5.6 | -5.5 | 100.0 |
| Extraction and related services | -0.8 | 7.5 | -6.2 | 73.5 |
| Mining and quarrying | 6.6 | 9.8 | 33.0 | 0.6 |
| Manufacturing | 3.1 | 2.5 | 6.1 | 20.1 |
| Food, beverage and tobacco | 1.2 | -0.5 | 0.4 | 3.8 |
| Refined petro., chemicals, pharmac. | 1.5 | 1.5 | -3.8 | 2.0 |
| Basic metals | -1.2 | -2.2 | -9.2 | 1.1 |
| Machinery and equipment | 2.3 | 4.4 | 14.5 | 2.8 |
| Ships, boats and oil plattforms | 4.7 | 7.7 | 26.6 | 2.1 |
| Electricity, gas and steam | 1.2 | 0.9 | -4.7 | 5.9 |
The (overall) index of industrial production (PII) also increased by 5.6 per cent due to a rise in the extraction of oil and natural gas in this period. Extraction of crude petroleum increased by 2.9 per cent, while extraction of natural gas went up by 13.1 per cent in the second quarter compared with the first quarter of 2013. This was related to the production start on new fields on the Norwegian continental shelf in 2013. For further details we refer to the press release from The Norwegian Petroleum Directorate.
Seasonally-adjusted figures for the second quarter of 2013 show a further increase in output for industries such as machinery and equipment and ships, boats and oil platforms, compared with the previous quarter of 2013. Since 2005, there has been a production growth of respectively 99 and 112 per cent in these two industries. Large stocks of orders and a continued high workload have formed the basis for the record-high production. There has also been a production growth in fabricated metal products and in repair and installation of machinery in the second quarter of 2013, compared with the previous quarter.
Increasing differences within Norwegian manufacturing
On the other hand, wood and wood products, basic chemicals and basic metals had a decrease in production in the second quarter of 2013, compared with the previous quarter. Compared with figures from 2005, basic metals had a production drop equivalent to over 23 per cent. The differences between industries linked to the Norwegian oil and gas industries and more traditional Norwegian export industries have thereby continued to increase so far in 2013.
Growth in manufacturing from June 2012 to June 2013
The output in manufacturing saw a growth of 6.1 per cent from June 2012 to June 2013, according to calendar-adjusted figures. Industries such as machinery and equipment, ships, boats and oil platforms, together with repair and installation of machinery had a significant production growth since June 2012. Wood and wood products, paper and paper products and basic metals experienced a drop in production in the same period.
Upturn in manufacturing from May to June 2013
Production in Norwegian manufacturing went up by 3.1 per cent from May to June 2013. Industries such as fabricated metal products, machinery and equipment, as well as ships, boats and oil platforms had a significant production growth from May to June 2013. In addition there has also been a solid increase in the production of food and food products. Wood and wood products and basic chemicals had a downturn in production in the same period.
Norway and the euro area
There was a 2.8 per cent increase in Norwegian manufacturing output from May 2012 to May 2013, according to calendar-adjusted figures. Production in manufacturing industries in the euro area decreased by 1.5 per cent in the same period, according to figures published by Eurostat.
Lower production within electricity supply from June 2012 to June 2013
The production within Norwegian electricity supply decreased by 4.7 per cent from June 2012 to June 2013, according to unadjusted figures.
Interpretation of seasonally-adjusted figuresOpen and readClose
In order to facilitate the interpretation of the short-term development, the index of production publishes three-month moving averages of the seasonally-adjusted figures. We normally compare the latest non-overlapping three-month periods, for instance April to June 2013 compared with January to March 2013. Seasonally-adjusted monthly changes must be interpreted with caution.
On the effect of EasterOpen and readClose
It is important to be aware that the uncertainty for the calendar-adjusted and seasonally-adjusted indices for March and April is greater than normal due to the changed placing of Easter. This effect will also affect the seasonally-adjusted figures for the 1st and 2nd quarters. This is accounted for when adjusting for seasonal variations. However, it can still be difficult to adjust for all impacts.
Contact
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Production and turnover
E-mail: prodoms@ssb.no