Decline in manufacturing turnover in the first quarter

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Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing decreased by 1.4 per cent in the first quarter of 2018 compared to the last quarter of 2017. However, a 0.5 per cent increase was recorded from February 2018 to March 2018.

Written by: Robert Skotvold

The index value for turnover in manufacturing was 143.4 (2005=100) in the period January to March 2018, compared to 145.5 in the previous three-month period, according to seasonally-adjusted figures.

1  The index value for period m is the average of period m, m-1 and m-2.

Figure 1. Index of turnover for manufacturing. Seasonally adjusted. Three-month moving average¹. 2005=100

Index of turnover for manufacturing
Jan. 2008 144.5
Feb. 2008 145.8
Mar. 2008 145.6
Apr. 2008 146.2
May 2008 146.8
June 2008 149.4
July 2008 151.3
Aug. 2008 151.5
Sep. 2008 152.4
Okt. 2008 150.3
Nov. 2008 148.2
Dec. 2008 144
Jan. 2009 142.5
Feb. 2009 141.3
Mar. 2009 142
Apr. 2009 139.5
May 2009 137.2
June 2009 133.5
July 2009 132.8
Aug. 2009 134
Sep. 2009 135.9
Okt. 2009 137
Nov. 2009 137.1
Dec. 2009 137.4
Jan. 2010 137.1
Feb. 2010 136
Mar. 2010 135.1
Apr. 2010 135.5
May 2010 136.3
June 2010 137.5
July 2010 138.2
Aug. 2010 136.8
Sep. 2010 134.5
Okt. 2010 134.7
Nov. 2010 137.3
Dec. 2010 138.3
Jan. 2011 137.4
Feb. 2011 136.6
Mar. 2011 135.4
Apr. 2011 136.7
May 2011 136.4
June 2011 137.9
July 2011 136.7
Aug. 2011 136.2
Sep. 2011 136.1
Okt. 2011 137.1
Nov. 2011 139.1
Dec. 2011 141.6
Jan. 2012 143.4
Feb. 2012 144
Mar. 2012 143.8
Apr. 2012 142.7
May 2012 143.2
June 2012 142.8
July 2012 143.8
Aug. 2012 143.6
Sep. 2012 144.9
Okt. 2012 145
Nov. 2012 145.8
Dec. 2012 145.4
Jan. 2013 146.6
Feb. 2013 145.5
Mar. 2013 146.7
Apr. 2013 146
May 2013 146.2
June 2013 147.5
July 2013 150.9
Aug. 2013 153.6
Sep. 2013 153.9
Okt. 2013 152.1
Nov. 2013 151.7
Dec. 2013 151.2
Jan. 2014 150.2
Feb. 2014 150.9
Mar. 2014 149.8
Apr. 2014 151.5
May 2014 150.5
June 2014 149.8
July 2014 148.9
Aug. 2014 151.4
Sep. 2014 151.5
Okt. 2014 151.8
Nov. 2014 150.7
Dec. 2014 151.9
Jan. 2015 149.8
Feb. 2015 149.5
Mar. 2015 150.6
Apr. 2015 152.9
May 2015 152.3
June 2015 150.9
July 2015 149.5
Aug. 2015 148.9
Sep. 2015 148.1
Okt. 2015 147.9
Nov. 2015 145.1
Dec. 2015 143.5
Jan. 2016 141.1
Feb. 2016 139.5
Mar. 2016 138.2
Apr. 2016 137.5
May 2016 139.6
June 2016 139.9
July 2016 139.7
Aug. 2016 137.5
Sep. 2016 136.6
Okt. 2016 135.4
Nov. 2016 134.9
Dec. 2016 133.5
Jan. 2017 135.4
Feb. 2017 137.1
Mar. 2017 139
Apr. 2017 139.3
May 2017 138.4
June 2017 138.3
July 2017 138.2
Aug. 2017 139.8
Sep. 2017 140.8
Okt. 2017 142.2
Nov. 2017 143.4
Dec. 2017 145.5
Jan. 2018 145.6
Feb. 2018 144.8
Mar. 2018 143.4

Three-month change: decrease in most of the industries

Seasonally-adjusted figures showed that the turnover in Norwegian manufacturing decreased by 1.4 per cent in the first quarter of 2018 compared with fourth quarter 2017. A decrease was recorded for most of the industries.

Much of the decrease in manufacturing turnover stems from food products and beverages and the industry grouping refined petroleum, chemicals and pharmaceutical products. Within food products and beverages there was a decline within the processing and preserving of fish. Meat and meat products also reported lower turnover in the same period.

On the other hand, growth in turnover for rubber, plastic and mineral products and repair and installation of machinery had the greatest impact on curbing the negative development in total turnover.

 

1  The index value for period m is the average of period m, m-1 and m-2.

Figure 2. Selected industries. Seasonally adjusted. Three-month moving average¹

Food, beverages and tobacco Refined petro. chemicals, pharmac. Fabricated metal products Ships, boats and oil platforms Machinery and equipment
Jan. 2012 153.4 152.3 168.1 118.4 197.5
Feb. 2012 154.6 152.6 172.3 120.7 202.5
Mar. 2012 159.9 155.6 173.0 135.0 197.0
Apr. 2012 158.7 155.8 169.8 129.1 202.0
May 2012 158.9 154.1 169.9 137.0 212.5
June 2012 155.2 147.4 171.0 145.5 210.8
July 2012 156.0 146.8 168.7 154.5 210.7
Aug. 2012 155.5 153.1 171.1 140.5 206.5
Sep. 2012 155.3 158.3 172.0 147.3 215.0
Okt. 2012 153.6 156.9 175.7 142.9 227.5
Nov. 2012 154.2 151.1 175.4 153.3 229.4
Dec. 2012 158.1 151.9 166.6 142.9 229.6
Jan. 2013 160.8 154.9 165.0 147.3 236.2
Feb. 2013 160.7 156.8 158.0 134.3 238.7
Mar. 2013 160.1 156.4 180.1 136.3 235.3
Apr. 2013 162.0 153.6 183.3 126.5 233.6
May 2013 165.8 149.4 190.0 134.8 240.2
June 2013 166.4 146.2 179.8 139.8 261.5
July 2013 169.3 147.2 177.7 160.7 271.0
Aug. 2013 170.0 151.1 174.8 161.3 274.6
Sep. 2013 170.5 158.5 170.9 157.3 275.3
Okt. 2013 169.9 157.0 170.8 142.0 264.8
Nov. 2013 168.3 155.9 174.9 142.7 279.0
Dec. 2013 170.2 150.6 170.0 147.1 277.0
Jan. 2014 168.1 152.4 172.3 143.8 273.6
Feb. 2014 168.4 152.4 172.1 157.4 264.7
Mar. 2014 165.9 148.6 173.7 162.1 257.9
Apr. 2014 170.4 146.6 172.7 167.4 266.1
May 2014 171.5 144.3 169.7 156.7 261.7
June 2014 172.8 142.2 168.5 151.9 268.6
July 2014 170.8 140.0 171.2 144.4 275.5
Aug. 2014 172.1 136.4 171.5 151.3 307.2
Sep. 2014 173.2 135.2 172.3 149.8 307.0
Okt. 2014 173.4 133.1 170.8 161.6 305.3
Nov. 2014 174.2 136.3 170.1 158.0 290.7
Dec. 2014 175.7 134.0 172.1 155.9 297.1
Jan.2015 177.7 128.3 159.9 139.8 304.8
Feb. 2015 177.3 122.6 157.7 143.8 306.8
Mar. 2015 176.7 126.5 156.2 141.6 317.4
Apr. 2015 177.8 129.6 164.9 156.4 307.0
May 2015 178.7 130.6 167.1 150.2 301.8
June 2015 179.4 131.8 163.5 145.6 282.5
July 2015 179.2 132.8 157.3 137.4 273.2
Aug. 2015 180.3 129.6 157.9 133.0 261.5
Sep. 2015 180.2 133.1 153.6 132.1 254.7
Okt. 2015 181.6 135.9 155.1 121.6 255.3
Nov. 2015 183.0 139.1 147.4 109.8 242.4
Dec. 2015 185.3 132.2 150.8 112.9 236.1
Jan. 2016 186.6 124.0 149.8 120.6 222.4
Feb. 2016 190.4 115.3 149.4 120.4 211.2
Mar. 2016 192.5 110.1 143.2 112.1 203.0
Apr. 2016 193.8 108.5 142.3 105.8 195.5
May 2016 193.0 113.1 140.9 115.1 189.6
June 2016 194.5 114.6 144.8 118.5 171.6
July 2016 194.3 115.0 151.6 113.9 166.6
Aug. 2016 193.9 113.3 155.3 102.0 160.9
Sep. 2016 193.9 107.1 158.3 99.0 168.5
Okt. 2016 195.1 102.7 149.8 101.2 161.0
Nov. 2016 195.9 98.0 147.8 105.5 148.0
Dec. 2016 195.5 101.4 141.8 100.8 131.5
Jan. 2017 196.3 117.6 141.6 97.6 127.1
Feb. 2017 196.9 131.3 140.0 91.1 131.2
Mar. 2017 197.3 138.8 146.5 96.5 127.0
Apr. 2017 195.3 134.4 145.9 96.3 126.2
May 2017 190.5 131.8 145.1 92.4 121.6
June 2017 187.2 130.5 145.7 86.8 127.9
July 2017 188.3 128.5 141.7 92.1 116.3
Aug. 2017 192.7 130.7 136.4 99.7 118.0
Sep. 2017 195.4 135.1 135.9 100.0 115.4
Okt. 2017 195.2 138.9 147.2 95.7 123.7
Nov. 2017 195.0 142.3 147.6 94.8 126.8
Dec. 2017 197.6 149.5 144.2 96.5 140.9
Jan. 2018 195.4 153.1 137.7 95.5 143.4
Feb. 2018 194.5 150.0 142.9 95.6 143.2
Mar. 2018 191.4 143.0 139.6 94.9 135.6

Monthly change: basic chemicals pulls up turnover

Total Norwegian manufacturing turnover showed an increase of 0.5 per cent from February to March 2018, according to seasonally-adjusted figures. The biggest contribution came from basic chemicals which were up 13 per cent.

On the other hand, reduced turnover for repair and installation of machinery had the greatest impact on curbing the positive development in total turnover.

Monthly change: decrease in Norway and in the euro area in February 2018

Total turnover in Norwegian manufacturing went down 0.6 per cent from January to February 2018, according to seasonally-adjusted figures. Manufacturing in the euro area was down 1.1 per cent in February 2018. In the Nordic countries, the turnover in Denmark and Sweden was down by 2.5 and 1.4 respectively, according to Eurostat.

On the effect of Easter

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.

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