Minor increase in manufacturing output

The index level for Norwegian manufacturing in the first quarter of 2017 amounted to 113.1 (2005= 100). The corresponding figure for the last quarter of 2016 was 112.5.

Three-month change: strong growth in the industry grouping refined petroleum, chemicals and pharmaceuticals

According to seasonally-adjusted figures, manufacturing output had a minor increase of 0.5 per cent in the first quarter of 2017 compared with the fourth quarter of 2016. The industry grouping refined petroleum, chemicals and pharmaceuticals contributed most to the overall growth, with a significant production increase equivalent to 8.7 per cent. High production level of pharmaceutical products, as well as maintenance shutdown among some leading suppliers in the previous quarter explains this production growth. In addition, food products also saw a clear growth due to a production increase within processing and preserving of fish compared with the previous quarter.

However, the overall manufacturing growth was substantially dampened by a fall in petroleum-related industries like machinery and equipment, ships, boats and oil platforms as well as fabricated metal products. The analytical grouping petroleum-related manufacturing had an overall decrease of 4.3 per cent in the first quarter of 2017. For more details about the development in petroleum-related manufacturing over the last years, see the article about the effects of oil and gas investments on industrial production (only in Norwegian).

Monthly change: decline in manufacturing output from February to March 2017

According to seasonally-adjusted figures, manufacturing output declined by 1.1 per cent from February to March 2017. Machinery and equipment, together with basic metals contributed most to the overall decrease. On the other hand, the industry grouping refined petroleum, chemicals and pharmaceuticals experienced an increase in the same period. 

Twelve-month change: decline in Norway, increase in the Euro area in February 2017

According to calendar-adjusted figures, Norwegian manufacturing output declined 1.4 per cent from February 2016 to February 2017. Machinery and equipment contributed most to this decline, with a fall of as much as 14 per cent. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area increased by 0.9 per cent in the same period.

Three-month change: growth in total industrial production (PII)

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, increased by 1.4 per cent in the first quarter of 2017 compared with the last quarter of 2016. Extraction of crude petroleum went down 5.1 per cent, while extraction of natural gas saw an increase of 2.8 per cent. For more details about oil and gas extraction for March 2017, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, output saw a clear drop equivalent to 4.6 per cent in the first quarter of 2017 compared with the last quarter of 2016. Suppliers within this industry are negatively affected by a lower investment level in the Norwegian oil and gas industry. Lower investments within the investment category exploration in particular contributed to reduce the production activity within this industry.

In the same period mining and quarrying saw an increase of 2.1 per cent, while production within Norwegian electricity supply declined by 1.8 per cent.

• See more figures in the statistics Index of industrial production