Turnover in oil and gas, manufacturing, mining and electricity supply, July 2003

Turnover in July within Norwegian oil and gas extraction was approximately 9 per cent lower than the same month last year. This is a result of a somewhat lower oil-production in July 2003 compared to July 2002.

2.4 per cent decline for intermediate goods

Turnover within intermediate goods saw a 2.4 per cent fall in the period from May to July 2003 compared with the same period in 2002. The decline is partly caused by a 7 per cent decline for basic chemicals, but also basic metals and pulp, paper and paper products experienced lower turnover in the 3-month-period.

Capital goods down

There has been a marked reduction in turnover for capital goods in the period from May to July compared with the same period in 2002. The 5 per cent decline is a result of lower turnover for all industries within the main industrial grouping with the exception of machinery and equipment n.e.c.

Consumer goods also decline

Consumer goods (food and food products, textiles, wearing apparel, leather and publishing, printing and reproduction) saw a 1.5 per cent fall in turnover from May to July compared with the same period last year. The fall in turnover for consumer goods was somewhat lower than for intermediate and capital goods. A stronger turnover for food and food products in July subdues the fall for consumer goods in the three-month-period.

Changes within electricity, gas and steam supply

Long-term financial contracts had an impact on turnover figures within electricity, gas and steam supply. It is therefore advised to interpret the figures with caution.