Investments in oil and gas, manufacturing, mining and electricity supply, Q2 2002

Estimates for 2003 covering manufacturing, mining and quarrying and electricity supply are 12 percent lower than the corresponding figures for 2002. Expectations of a lower level of investment within certain industries have a strong influence on the overall picture. However, it is important to keep in mind that there is a great deal of uncertainty attached to estimates for 2003 at this early stage.

Recorded estimates for 2002, reported in the second quarter, seem to confirm the results from the previous survey. Total investments covering manufacturing, mining and quarrying and electricity supply are expected to amount to about NOK 22 billion in current value. This is a 10 per cent increase compared with corresponding figures in 2001, and the highest level recorded in a May-survey since 1998. Large projects within the industries basic metals and electricity supply have a strong influence on the overall picture.

Alteration of series aggregated by main industrial groupings

Some industries are classified under a new industrial group in order to establish accordance between Norwegian and European statistics. Most importantly - this applies to the industries printing (from intermediate goods to consumer goods) and production of weapons and ammunition (from intermediate goods to capital goods). This change leads to an increase in the total level of capital goods and consumer goods - and a decline in the level of intermediate goods, but has no impact on recorded figures for the separate industries. Recorded figures for series aggregated by main industrial groupings are corrected back to the May-survey 2001.