Moderate increase in manufacturing output

The index level for Norwegian manufacturing from June to August 2018 amounted to 115.9 (2005=100). The corresponding figure for the previous three-month period was 115.2.

Three-month change: high production of fish and pharmaceutical products

According to seasonally-adjusted figures, manufacturing output saw a minor increase of 0.6 per cent from June to August 2018 compared to previous three-month period. The growth is particularly related to high activity within food products and beverages, as well as in the industry grouping refined petroleum, chemicals and pharmaceuticals. The former increased 2.7 per cent, partly due to higher production within processing and preserving of fish. In addition, good summer weather led to higher manufacture of dairy products and ice cream, as well as beer, soft drinks and mineral waters. For the industry grouping refined petroleum, chemicals and pharmaceuticals, the growth was partly related to high output of pharmaceutical products.

On the other hand, the overall output increase was dampened by lower production in industries within the analytical grouping petroleum-related manufacturing, such as machinery and equipment, and reparation and installation of machinery.

Monthly change: unchanged output from July to August

According to seasonally-adjusted figures, manufacturing output was more or less unchanged from July to August 2018, with a minor decrease of 0.1 per cent. Computer and electrical equipment saw a strong output increase in this period, while the industry grouping refined petroleum, chemicals and pharmaceuticals had a clear output fall.

Decline in the Euro area, growth in Norway in July

Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area declined 0.7 per cent from June to July 2018. In the same period, Norwegian manufacturing went up by 1.0 per cent.

In two of our neighboring countries, Sweden and Denmark, the development in manufacturing output pointed in opposite directions from June to July 2018. Sweden saw a clear decline of 2.3 per cent, while Denmark had an output increase of 1.4 per cent.

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply had a clear increase of 2.9 per cent from June to August 2018 compared to the previous three-month period. Extraction of crude petroleum saw a solid growth of 7.0 per cent, while extraction of natural gas increased strongly by 11.1 per cent. For more details about oil and gas extraction for August 2018, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, there was a clear output increase equivalent to 3.3 per cent from June to August 2018 compared to the previous three-month period. In the same period, both mining and quarrying and production within Norwegian electricity supply saw a decrease of 4.5 per cent.