Minor growth in manufacturing output

The index level for Norwegian manufacturing from September to November 2017 amounted to 114.2 (2005=100). The corresponding figure for the previous three-month period was 113.8. Smoothed seasonally-adjusted figures indicate a flat trend the last months (see figure 1).

Three-month change: minor growth in manufacturing output

According to seasonally-adjusted figures, manufacturing output saw an increase of 0.4 per cent from September to November 2017 compared with the previous three-month period. Machinery and equipment together with ships, boats and oil platforms contributed most to the increase, with growth of 2.5 and 3.9 per cent respectively. The increase in ships, boats and oil platforms can be linked to growth within the construction of ships. The petroleum-related manufacturing had an overall increase of 2.8 per cent compared to the previous three-month period.

On the other hand, the aggregate growth in manufacturing was somewhat dampened by a decline in the production of paper and paper products, as well as in rubber, plastics and mineral products.

Monthly change: slight increase in manufacturing from October to November 2017

According to seasonally-adjusted figures, manufacturing output increased by 0.3 per cent from October to November 2017. Basic metals together with computer and electrical equipment contributed most to this growth.

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

According to calendar-adjusted figures, Norwegian manufacturing output saw an increase of 1.9 per cent from October 2016 to October 2017. Food products together with the industry grouping refined petroleum, chemicals and pharmaceuticals had the largest positive contribution.  Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area increased strongly by 4.4 per cent in the same period.

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, had a decline of 2.3 per cent from September to November 2017 compared with the previous three-month period. In this period, extraction of crude petroleum had a notable downturn of 9 per cent, and extraction of natural gas declined by 8.3 per cent. For more details about oil and gas extraction for November 2017, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, output saw a decrease of 2.5 per cent from September to November 2017 compared with the previous three-month period.

In the same period, mining and quarrying saw a decrease of 3.2 per cent, while production within Norwegian electricity supply went up by 1.9 per cent.