Turnover in oil and gas, manufacturing, mining and electricity supply, December 2002

Turnover in manufacturing experienced a slight increase from November to December 2002.

According to seasonally adjusted figures, the total turnover for manufacturing was 41 billion NOK in December, a slight increase compared with the month before. Unadjusted figures for December show a decline of 3.9 per cent in turnover within manufacturing when compared with 2001.

The year 2002

According to unadjusted figures, the most substantial decline in turnover in 2002 can be observed within export related industries such as pulp, paper and paper products, refined petroleum products and chemicals and basic metals. In addition, electrical and optical equipment and the production of oil platforms and modules, show a decline, although less significant than the previous mentioned industries. Though for both industries, the negative trend increased towards the end of the year, declining more than ten per cent from the third to the fourth quarter, according to seasonally adjusted figures. The production of transport equipment experienced a minor increase in turnover from 2001 to 2002, though this industry, too, had a negative growth in turnover the last quarter of 2002.

The production of food products, publishing, printing and reproduction and fabricated metal products all experienced an increase in turnover in 2002, and by this reduced the negative trend within manufacturing. Seasonally adjusted figures, though, show a decline in all of the above in the fourth quarter. According to unadjusted figures, machinery and equipment n.e.c experienced an increase of 7.6 per cent in turnover from 2001 to 2002. Seasonally adjusted figures, too, show a continuing positive growth from third to forth quarter within this industry.

Weak figures in manufacturing in December

There has been an evident negative trend in turnover for manufacturing from November to December 2002, where most industries have experienced a decline, according to seasonally adjusted figures. The most negative trends can be seen within industries such as production of basic metals and fabricated metal products, where the turnover fell with 9.9 and 10.9 per cent, respectively. Industries such as the production of refined petroleum products and chemicals and machinery and equipment n.e.c are among the few who experienced a positive growth in December. In addition, the size of these industries contributes to the increase of 0.5 per cent in the total turnover within manufacturing from November to December.

Energy goods

Figures showing total turnover for electricity, gas and steam supply requires careful interpretation. Figures made available from this industry include long-term financial contracts, and these contribute to a major increase within this industry. Due to this element of non - physical turnover, it is advised not to compare these figures with the other figures.

New and more detailed information has made it necessary to revise previous published figures for the period January 2002 to December 2002. For oil and gas extraction this involves changes that are significant.