Increase in manufacturing output

The index level for Norwegian manufacturing amounted to 118.2 (2005=100) in the period December 2018-February 2019. The corresponding figure for the previous three-month period was 117.3. The long term trend shows growth since early 2018 (see figure 1).

 

Three-month change: growth within several industries

According to seasonally-adjusted figures, manufacturing output saw an increase of 0.8 per cent in the period December 2018-February 2019 compared to the previous three month period. Several of the industries experienced a solid growth. The two industries that contributed the most to the overall increase was fabricated metal products together with ships, boats and oil platforms, with an increase of 5.2 and 9.1 per cent respectively. Petroleum-related manufacturing saw a total increase of 4.3 per cent.  

On the other hand, the overall output increase was dampened by a production fall in the industry grouping refined petroleum, chemical and pharmaceutical products. The industry grouping had a decline in production of 4.7 per cent.

Monthly change: marginal decline in manufacturing output from January to February 2019

According to seasonally-adjusted figures, overall manufacturing output had a small decline of 0.3 per cent from January to February 2019. There were small changes in production within most of the industries. Food products contributed the most to pull the overall manufacturing output down, while fabricated metal products contributed the most in the opposite direction.

Increase in the Euro area, unchanged output in Norway in January 2019

Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area had an increase of 1.1 per cent from December 2018 to January 2019. In the same period, Norwegian manufacturing output was almost unchanged.

Manufacturing output in Sweden saw a marginal increase in the same period, while there was a clear decline in Denmark.

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply saw a clear decrease of 3.2 per cent from December 2018 to February 2019 compared with the previous three-month period. Extraction of crude petroleum went down 1.3 per cent, and extraction of natural gas had a decline of 2 per cent. For more details about oil and gas extraction for February 2019, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, there was a strong output increase equivalent to 4.6 per cent compared to the last three- month period. The growth is partly related to an investment increase in the Norwegian oil and gas sector. 

Mining and quarrying also saw a production growth of 5.7 per cent in the same period, while output within Norwegian electricity supply went down 10.2 per cent.