Recovering manufacturing output

The index level for Norwegian manufacturing from December 2016 to February 2017 amounted to 113.5 (2005=100). The corresponding figure for the previous three-month period was 112.1. 

• See more figures in the statistics Index of industrial production

Three-month change: increase in the industry grouping refined petroleum, chemicals and pharmaceuticals

According to seasonally-adjusted figures, manufacturing output went up 1.2 per cent from December 2016 to February 2017, compared to the previous three-month period. The industry grouping refined petroleum, chemicals and pharmaceuticals contributed most to the overall growth, with an increase of 6.1 per cent. This increase can be explained by high level of production of pharmaceutical products, as well as maintenance shutdown among some leading suppliers during the previous three-month period. There was also a clear growth within computer and electrical equipment due to high production of electrical equipment.

At the same time, petroleum-related industries like machinery and equipment, as well as fabricated metal products, contributed to dampen the increase in the overall manufacturing output. For more details about the development in petroleum-related manufacturing over the last years, see the article about the effects of oil and gas investments on industrial production (only in Norwegian).

Monthly change: unchanged manufacturing output from January to February 2017

According to seasonally-adjusted figures, manufacturing output was unchanged from January to February 2017. During this period, food products and basic metals experienced an increase. On the other hand, computer and electrical equipment together with furniture production saw a decline from January to February.

Twelve-month change: small decline in Norway and the Euro area in January 2017

According to calendar-adjusted figures, Norwegian manufacturing output went down 0.8 per cent from January 2016 to January 2017. Machinery and equipment contributed most to this decline, with a fall of as much as 19 per cent. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area fell by 0.3 per cent in the same period.

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, increased by 3.1 per cent in the period December 2016 to February 2017, compared to the previous three-month period. Extraction of crude petroleum went down 1.6 per cent, while extraction of natural gas saw a pronounced increase of 9.6 per cent. For more details about oil and gas extraction for February 2017, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, output had a clear decline of 3.4 per cent in the period December 2016 to February 2017 compared to the previous three-month period. Suppliers within this industry are negatively affected by a lower investment level in the Norwegian oil and gas industry. Lower investments within the investment category exploration in particular contributed to reduce the production activity within this industry.

Mining and quarrying saw an increase of 1.6 per cent in the same period, while production within Norwegian electricity supply remained unchanged.