Growth in manufacturing output

The index level for Norwegian manufacturing from May to July 2017 amounted to 115.1 (2005=100). The corresponding figure for the previous three-month period was 114.0. Smoothed seasonally-adjusted figures show a turning point for manufacturing output in September 2016, and since then the activity has risen somewhat.

Three-month change: growth within rubber, plastic and mineral products

According to seasonally-adjusted figures, manufacturing output saw an increase of 1.0 per cent from May to July 2017 compared to the previous three-month period. The industry grouping rubber, plastic and mineral products contributed most to the overall growth, with an increase of 3.9 per cent. This growth is particularly related to a high level of activity in the Norwegian construction sector, where this industry grouping is a supplier of intermediate goods. In addition, basic chemicals also saw an increase in this period equivalent to 3.3 per cent.

On the other hand, petroleum-related manufacturing saw an overall decrease of 1.0 per cent from May to July 2017 compared to the previous three-month period. Among these industries, machinery and equipment had the largest fall with a decline of 3.2 per cent. For more details about how petroleum-related manufacturing affects the overall development in manufacturing, see the article Norwegian Manufacturing 2016 – a tough year for manufacturing.

Monthly change: clear growth from June to July 2017

According to seasonally-adjusted figures, manufacturing output saw a clear growth of 1.9 per cent from June to July 2017. Food products together with the industry grouping rubber, plastic and mineral products contributed most to this increase. The overall growth was somewhat dampened by lower production within fabricated metal products as well as in the industry grouping furniture and manufacturing n.e.c.

Twelve-month change: growth in Norway and in the Euro area in June 2017

According to calendar-adjusted figures, Norwegian manufacturing saw a 1.1 per cent increase from June 2016 to June 2017. Basic chemicals had a solid growth in this period, while machinery and equipment contributed to dampen the overall manufacturing increase. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area increased by 2.4 per cent in the same period.

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, had a minor increase of 0.3 per cent from May to July 2017 compared to the previous three-month period. Extraction of crude petroleum fell by 0.7 per cent, while extraction of natural gas saw an increase of 2.3 per cent. For more details about oil and gas extraction for July 2017, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, output had a solid increase equivalent to 3.8 per cent from May to July 2017 compared to the previous three-month period. Suppliers within this industry have long been negatively affected by a lower investment level in the Norwegian oil and gas industry. However, latest figures suggest improvements for the industry due to some major projects within the category field development.

In the same period, mining and quarrying saw a minor increase of 0.3 per cent, while production within Norwegian electricity supply went up by 2.1 per cent.