Table 5. Manufacturing; tendencies. Diffusionindex, trend series (1, 2)

Business Tendency Survey, 4. Qrt. 2012

5 Manufacturing; tendencies. Diffusionindex, trend series (1, 2)
	3:09	4:09	1:10	2:10	3:10	4:10	1:11	2:11	3:11	4:11	1:12	2:12	3:12	4:12



TENDENCIES IN CURRENT QUARTER COMPARED TO PREVIOUS QUARTER

Total volume of production	44.6	47.9	50.0	51.3	52.0	53.4	55.4	55.9	55.0	54.2	52.9	52.3	51.9	51.3
Capacity utilization, average	45.8	49.1	50.8	51.4	51.8	53.3	55.8	56.8	55.4	53.9	52.9	52.3	51.3	50.4
Employment, average	39.4	42.4	44.6	45.5	46.9	50.5	53.9	54.8	54.1	53.7	53.7	54.0	54.1	52.5

New orders received from:
home markets	42.4	44.6	47.0	50.8	53.3	55.6	57.5	57.0	54.7	54.5	53.9	51.6	50.1	49.9
export markets	41.2	44.1	47.5	51.5	53.5	54.5	53.9	51.4	48.8	47.6	47.9	48.4	46.9	45.0
Total stock of orders	40.7	43.4	45.6	49.4	52.8	54.9	55.8	55.2	53.3	52.7	52.9	51.4	49.2	48.9

Producer prices at the:
home market	46.1	46.3	46.8	49.1	51.3	53.5	55.8	55.1	53.1	52.4	51.9	51.4	51.7	52.2
export market	44.2	43.9	45.5	49.2	51.5	52.8	53.0	49.8	46.4	45.4	45.7	45.8	45.4	44.5

EXPECTED CHANGES FOR NEXT QUARTER COMPARED TO CURRENT QUARTER

Total volume of production	47.1	50.4	53.5	56.3	59.4	60.9	59.9	58.6	58.1	57.6	58.3	58.1	57.5	58.4
Capacity utilization, average	47.8	50.6	53.0	55.6	58.5	60.0	58.4	56.1	55.5	55.6	56.6	57.0	56.8	56.9
Employment, average	39.6	41.9	44.3	47.1	50.9	53.4	53.7	53.2	52.9	52.4	52.5	52.0	51.3	51.9

New orders received from:
home markets	48.0	51.4	54.5	56.5	58.9	60.3	59.2	57.2	57.6	58.3	58.4	57.5	55.6	54.2
export markets	50.0	50.6	52.5	55.9	58.3	58.3	56.4	54.5	52.9	52.3	52.7	53.1	53.6	54.1
Total stock of orders	46.1	49.7	52.2	54.9	58.4	59.7	58.8	56.8	55.8	56.6	57.3	56.3	54.6	53.8

Producer prices at the:
home market	46.7	47.4	48.6	51.4	53.8	56.1	57.4	56.2	54.3	55.0	55.5	54.5	54.7	55.1
export market	44.1	45.2	46.8	49.4	51.3	53.3	54.1	51.2	47.3	46.6	47.6	48.4	49.7	49.8

JUDGEMENTS OF THE CURRENT SITUATION BY END OF QUARTER

Stocks of orders compared to current production	26.6	27.0	26.9	27.9	30.4	33.2	34.6	34.5	33.8	33.8	34.2	34.1	33.2	32.2
Inventories of raw materials	41.8	42.3	44.5	47.2	48.3	49.3	51.3	53.0	53.2	..	..	..	..	..
Inventories of own products	42.9	43.7	45.7	47.1	47.9	49.1	50.9	51.9	51.5	50.3	50.0	51.4	52.2	52.2
Inventories of raw materials etc. compared to current production	58.9	57.0	56.3	55.6	54.9	54.5	54.7	55.1	55.8	..	..	..	..	..

Inventories of own products compared to value of sales	57.2	55.5	54.5	53.7	53.3	53.0	53.3	54.5	55.5	..	..	..	..	..

Changes in plans for investment	42.8	44.5	45.6	47.1	49.3	50.7	51.1	50.9	50.7	51.0	51.6	51.8	51.3	51.3

General judgement of the outlooks for next quarter	47.5	50.3	53.2	56.0	59.1	61.1	60.1	57.4	56.2	56.2	56.3	56.0	55.7	55.5

The utilization of capacity at current level of production unadjusted series, per cent
65 - 80 per cent	32	33	34	30	31	31	30	29	28	29	32	34	31	28
80 - 95 prosent	32	31	30	33	35	35	38	39	41	40	40	37	39	40
Full capacity, above 95 per cent	16	14	15	19	18	17	15	20	18	15	14	17	17	16

Weigthed average, trend serie	76.4	76.8	77.1	77.8	78.4	78.9	79.5	79.8	79.5	79.5	79.7	79.6	79.7	79.8

Indicator on resource shortage	18.2	19.5	21.6	23.8	24.0	23.7	25.1	26.4	26.6	26.4	26.7	27.2	27.5	27.3

¹ Results within a stratum are estimated by attaching to each answer of an enterprise a weight equal to its employment. For the estimation of a stratum response distribution the weights for each response alternative are summed and the distribution computed by dividing each sum with the total sum of weights. For further aggregation the stratum results are given weights equal to population employment of the stratum. ² For the interpretation of the results - see notes 2 and 3 in tab 1, and note 2 in tab 2.
Source: Statistics Norway