Table 7. Production of capital goods; tendencies. Diffusionindex, trend series (1, 2)

Business Tendency Survey, 4. Qrt. 2012

7 Production of capital goods; 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	41.2	42.5	43.4	45.3	47.4	48.7	52.9	55.4	54.6	55.5	56.5	56.4	56.9	56.9
Capacity utilization, average	42.7	43.0	43.7	45.2	46.7	49.1	53.8	56.4	55.8	55.6	55.5	54.9	54.4	53.6
Employment, average	37.5	39.0	41.1	42.5	44.3	49.2	56.3	60.1	60.4	60.0	59.8	62.0	65.6	64.4

New orders received from:
home markets	32.0	33.6	38.5	46.7	52.5	55.7	58.4	56.1	52.5	55.3	57.4	55.5	52.5	49.2
export markets	33.6	36.2	39.6	43.6	48.0	51.6	53.4	53.6	52.9	51.6	50.5	50.0	48.4	46.6
Total stock of orders	27.2	28.9	32.2	39.2	47.7	53.6	56.6	56.3	53.8	53.8	55.2	54.5	51.9	49.5

Producer prices at the:
home market	39.7	38.3	38.5	41.4	44.1	46.3	48.2	49.4	50.0	50.8	50.3	49.4	50.0	51.3
export market	38.4	37.2	37.9	40.3	42.7	44.6	45.5	44.8	43.4	43.5	45.0	45.7	45.4	45.0

EXPECTED CHANGES FOR NEXT QUARTER COMPARED TO CURRENT QUARTER

Total volume of production	38.8	39.7	44.3	49.7	55.0	59.2	61.0	61.7	62.7	61.2	59.7	59.2	59.7	61.9
Capacity utilization, average	41.9	42.5	45.4	50.0	54.8	58.2	58.6	58.1	58.5	58.1	57.6	57.8	57.2	57.4
Employment, average	36.2	36.8	39.6	44.5	50.2	55.4	58.5	59.3	60.8	62.1	62.5	62.5	62.2	62.4

New orders received from:
home markets	43.4	46.4	51.8	54.9	56.9	59.9	60.5	58.7	60.2	60.8	59.0	57.6	54.6	51.1
export markets	41.2	43.8	47.4	53.1	58.5	62.0	63.1	60.8	57.2	55.6	54.8	54.3	54.4	54.5
Total stock of orders	37.8	41.3	45.3	49.4	53.9	57.2	58.8	56.8	56.6	58.5	57.3	55.9	54.7	53.9

Producer prices at the:
home market	39.9	39.8	41.0	44.5	47.9	49.7	51.1	51.2	51.0	53.0	54.4	53.2	52.6	53.3
export market	37.4	35.9	38.0	42.6	45.6	47.6	48.9	46.7	44.3	46.1	48.2	48.6	49.4	49.5

JUDGEMENTS OF THE CURRENT SITUATION BY END OF QUARTER

Stocks of orders compared to current production	24.3	21.4	19.6	20.8	24.6	29.0	32.4	33.3	32.5	31.9	32.6	33.7	34.7	35.4
Inventories of raw materials	42.2	40.5	41.5	44.6	46.9	49.3	51.2	51.8	52.1	..	..	..	..	..
Inventories of own products	42.4	41.0	42.2	44.9	46.5	47.4	48.9	50.3	50.7	51.0	51.8	52.7	53.3	54.3
Inventories of raw materials etc. compared to current production	61.2	58.7	56.7	55.3	54.6	54.3	53.7	53.6	54.2	..	..	..	..	..

Inventories of own products compared to value of sales	58.5	56.7	55.1	53.9	53.1	52.6	52.7	53.0	53.4	..	..	..	..	..

Changes in plans for investment	41.1	41.7	42.7	44.9	48.0	50.2	51.5	52.0	52.8	54.1	55.4	56.1	55.6	54.3

General judgement of the outlooks for next quarter	39.3	41.5	46.1	51.4	56.4	60.5	61.1	59.4	59.3	59.6	59.3	59.0	57.8	55.9

The utilization of capacity at current level of production unadjusted series, per cent
65 - 80 per cent	25	32	28	26	28	29	28	24	27	30	31	32	25	23
80 - 95 prosent	31	30	29	30	32	33	36	42	40	39	39	35	42	42
Full capacity, above 95 per cent	26	21	20	23	24	21	21	26	23	20	22	24	23	23

Weigthed average, trend serie	79.6	78.7	78.2	78.5	79.2	80.0	81.0	81.9	81.9	81.8	81.9	82.0	82.2	82.5

Indicator on resource shortage	27.4	25.8	26.7	28.8	29.7	29.9	31.8	34.1	34.1	34.0	35.0	36.2	38.2	39.9

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