Manufacturing turnover back at top level in the third quarter

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Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing increased by 1.9 per cent from the second to the third quarter of 2018. A 2.2 per cent increase was recorded from August to September.

Written by: Robert Skotvold

The index value for turnover in manufacturing was 154.1 (2005=100) in the third quarter of 2018, compared to 151.3 in the previous three-month period, according to seasonally-adjusted figures. Since bottoming out in the fourth quarter of 2016, manufacturing turnover has recovered slowly but surely, and is now marginally higher than in the third quarter of 2013.

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 151.2
Mar. 2014 150.1
Apr. 2014 151.8
May 2014 150.2
June 2014 149.5
July 2014 148.5
Aug. 2014 151.2
Sep. 2014 151.3
Okt. 2014 151.7
Nov. 2014 150.6
Dec. 2014 152
Jan. 2015 150
Feb. 2015 150
Mar. 2015 151.1
Apr. 2015 153.4
May 2015 152
June 2015 150.4
July 2015 148.9
Aug. 2015 148.7
Sep. 2015 147.9
Okt. 2015 147.6
Nov. 2015 144.8
Dec. 2015 143.5
Jan. 2016 141.3
Feb. 2016 140
Mar. 2016 138.9
Apr. 2016 138.2
May 2016 139.4
June 2016 139.2
July 2016 138.9
Aug. 2016 137.4
Sep. 2016 136.5
Okt. 2016 135.1
Nov. 2016 134.6
Dec. 2016 133.5
Jan. 2017 135.6
Feb. 2017 137.7
Mar. 2017 140
Apr. 2017 140.2
May 2017 138.1
June 2017 137.3
July 2017 137.2
Aug. 2017 139.7
Sep. 2017 140.7
Okt. 2017 141.8
Nov. 2017 143
Dec. 2017 145.6
Jan. 2018 145.9
Feb. 2018 145.6
Mar. 2018 144.6
Apr. 2018 145.8
May 2018 148.2
June 2018 151.3
July 2018 152.6
Aug. 2018 153.2
Sep. 2018 154.1

Three-month change: increased turnover in refined petroleum products, chemicals and pharmaceutical products

Seasonally-adjusted figures showed that the turnover in Norwegian manufacturing increased by 1.9 per cent from the second to the third quarter of 2018. The majority of the increase stemmed from the export market. The biggest contribution to the positive development was from the industry grouping oil refined petroleum, chemical and pharmaceutical products, with an increase of 12 per cent. A growth in prices for refined petroleum products (see producer price index) was the main cause for the rise in turnover in this industry grouping.

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 168.1 152.5 172.3 144.0 274.3
Feb. 2014 168.3 152.7 172.1 157.8 265.3
Mar. 2014 165.9 148.9 173.9 162.5 258.8
Apr. 2014 170.4 146.8 173.0 167.5 266.1
May 2014 171.6 144.4 169.7 155.1 261.9
June 2014 172.9 142.3 168.1 150.0 266.9
July 2014 170.7 140.0 171.5 143.0 274.6
Aug. 2014 171.9 136.6 171.2 151.0 306.0
Sep. 2014 173.0 134.5 171.5 149.8 307.2
Okt. 2014 173.2 132.5 169.1 161.1 304.9
Nov. 2014 174.1 135.7 169.3 157.6 290.5
Dec. 2014 175.6 134.4 171.9 155.9 297.2
Jan.2015 177.7 128.9 160.0 139.8 305.7
Feb. 2015 177.4 123.0 158.0 144.4 307.8
Mar. 2015 177.1 126.9 157.3 142.8 319.0
Apr. 2015 177.9 129.9 165.6 157.5 308.1
May 2015 178.5 130.5 167.5 148.0 302.2
June 2015 179.1 131.6 163.0 142.0 279.2
July 2015 178.9 132.6 158.4 135.3 271.4
Aug. 2015 180.2 129.7 157.8 133.9 260.0
Sep. 2015 180.0 132.1 152.2 132.9 256.1
Okt. 2015 181.4 134.8 152.4 121.3 254.8
Nov. 2015 183.0 138.3 146.2 109.4 242.4
Dec. 2015 185.3 132.7 150.8 113.3 236.5
Jan. 2016 186.7 124.9 150.2 120.9 223.2
Feb. 2016 190.6 115.9 149.9 120.8 211.9
Mar. 2016 193.2 110.7 145.3 113.3 204.1
Apr. 2016 194.1 109.0 143.3 106.9 196.7
May 2016 192.8 113.0 141.3 113.0 189.8
June 2016 194.0 114.3 143.8 114.0 168.8
July 2016 194.0 114.5 153.3 111.1 165.7
Aug. 2016 193.7 113.2 155.4 102.6 160.6
Sep. 2016 193.4 106.3 156.3 100.2 170.4
Okt. 2016 194.7 101.9 145.9 101.0 160.5
Nov. 2016 195.8 97.4 146.1 104.9 148.1
Dec. 2016 195.5 101.9 142.1 101.1 131.8
Jan. 2017 196.4 118.7 142.2 98.1 127.5
Feb. 2017 197.3 132.3 141.0 91.7 131.6
Mar. 2017 198.3 139.9 149.5 97.9 127.9
Apr. 2017 195.9 135.3 147.7 97.4 127.3
May 2017 190.0 131.8 145.2 91.0 121.2
June 2017 186.3 130.1 144.1 82.9 124.4
July 2017 187.6 127.7 142.8 90.6 114.3
Aug. 2017 192.3 130.5 136.7 101.8 116.9
Sep. 2017 194.8 133.8 133.4 102.5 116.8
Okt. 2017 194.8 137.2 142.9 95.9 123.3
Nov. 2017 195.0 140.9 145.5 94.1 127.0
Dec. 2017 197.6 149.8 145.2 97.2 141.5
Jan. 2018 195.6 154.8 139.4 96.4 144.1
Feb. 2018 194.8 151.8 145.0 97.3 143.9
Mar. 2018 192.4 144.7 143.5 97.4 136.5
Apr. 2018 197.3 141.1 149.9 99.7 139.6
May 2018 201.1 145.2 157.1 101.6 149.1
June 2018 202.5 148.5 160.8 108.2 153.5
July 2018 202.3 154.8 154.4 105.9 154.8
Aug. 2018 201.9 153.3 154.2 101.9 151.4
Sep. 2018 201.9 166.4 155.4 101.3 147.3

Monthly change: further increase in manufacturing turnover

Total Norwegian manufacturing turnover showed an increase of 2.2 per cent from August to September 2018, according to seasonally-adjusted figures. The industry grouping oil refined petroleum, chemical and pharmaceutical products was the biggest contributor to the increase in manufacturing turnover. Ships, boats and oil platforms also contributed to the positive development in manufacturing turnover in the period August to September.

On the other hand, food products had the greatest impact on curbing the positive development in total turnover in the period August to September.

Monthly change: higher turnover in manufacturing in the euro area in August 2018

Manufacturing in the euro area was up 1.2 per cent from July 2018 to August 2018, according to seasonally-adjusted figures. Total turnover in Norwegian manufacturing went up 1.0 per cent in the same period. In the Nordic countries, the turnover in Denmark was up 3.8 per cent, while Sweden was down 0.3 per cent, according to Eurostat.

 

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