Turnover in oil and gas, manufacturing, mining and electricity supply, November 2010

Among the industries that reported a growth in turnover in this last three-month period was refined petroleum, chemicals and pharmaceutical with a 2.9 per cent increase, partially due to a higher production volume, see Index of production . Machinery and installation went up by 4.5 per cent, completion and delivery of large projects is the major reason behind this development. Both computer and electrical equipment and the grouping building of ships, boats and oil platforms showed an increase in turnover, up 1.7 and 2..2 per cent respectively from September to November 2010 compared to the previous three-month period. Meanwhile, turnover for food products remained unchanged in the same period.

Turnover from October to November 2010

Seasonally-adjusted figures revealed that the turnover in Norwegian manufacturing went up by 0.5 per cent from October to November 2010. The biggest growth in turnover was to be seen within refined petroleum, chemicals and pharmaceutical, up 14.7 per cent. Positive results were also seen in machinery and equipment, with an increased turnover of 8.2 per cent and within repair, installation of machinery with 6.2 per cent. On the other hand, fabricated metal products showed a fall of 11 per cent.

Increased turnover from November 2009

Unadjusted figures showed that the total manufacturing turnover incremented by 4.9 per cent since the same month last year. Industries with increased turnover included refined petroleum, chemicals and pharmaceutical, up 29 per cent, basic metals up 28.3 per cent and computer and electrical equipment up 11.1 per cent. This tendency is explained by a combination of the increased production volume and price that these industries have experienced since November 2009, see the index of production and producer price index .

Industrial groupings with reduced turnover in this period included machinery and equipment, down 12.6 per cent and repair, installation of machinery with an 11.5 per cent fall.

Norway and the euro area

Unadjusted figures show that there was a 0.3 per cent decrease in Norwegian manufacturing turnover from October 2009 to October 2010. Manufacturing turnover in the euro area went up 8.5 per cent in the same period, according to figures published by Eurostat . These figures must be considered in relation to the fact that the decline in Norwegian industry was not as pronounced as in the countries in the EU, and had a different course due to differences in the structure of industry.

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