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243881
Continued fall in manufacturing turnover
statistikk
2016-06-07T10:00:00.000Z
Energy and manufacturing;Energy and manufacturing
en
ogibkoms, Turnover in oil and gas, manufacturing, mining and electricity supply, industrial turnover, domestic market, export market, valueEnergy , Oil and gas , Manufacturing, mining and quarrying , Energy and manufacturing
false
Index of industrial turnover monitors sales in oil and gas, manufacturing, mining & electricity. Turnover in manufacturing decreased by 1.9 per cent in the last three months.

Turnover in oil and gas, manufacturing, mining and electricity supply, April 2016

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Continued fall in manufacturing turnover

Seasonally-adjusted figures show that the total turnover in Norwegian manufacturing decreased by 1.9 per cent from February to April 2016 compared to the previous three-month period. Meanwhile, a 0.4 per cent decline was recorded from March to April 2016.

Turnover. Percentage change and NOK millionPublished 7 June 2016
Seasonally adjustedCalendar adjusted1Unadjusted
Monthly changeThree-month changeTwelve-month changeNOK million
April 2016 / March 2016February 2016 - April 2016 / November 2015 - January 2016April 2016 / April 2015April 2016
1Adjusted for working-days and for public holidays in Norway.
Extraction, mining, manufacturing and elec3.5-5.4-12.3116 118
Extraction and related services14.4-13.7-18.440 040
Mining and quarrying23.49.9-4.9995
Manufacturing-0.4-1.9-8.664 752
Food, beverages and tobacco-0.33.87.218 087
Refined petro., chemicals, pharmac.-1.4-10.7-14.08 784
Basic metals-1.30.8-12.45 087
Machinery and equipment-9.5-8.4-31.55 454
Ships, boats and oil platforms8.5-13.3-29.54 899
Electricity, gas and steam-9.37.1-7.910 332

Source: Statistics Norway

The index value for turnover in manufacturing is 138.6 (2005=100) in the period February to April 2016, compared to 141.3 in the previous three-month period, according to seasonally-adjusted figures.

Three-month change: refined petroleum, chemical and pharmaceutical industries down

Seasonally-adjusted figures show that the total turnover in Norwegian manufacturing decreased by 1.9 per cent from February to April 2016 compared to the previous three-month period.

Like the first quarter of 2016, a significant part of the total decline is due to a strong reduction in the turnover for the grouping refined petroleum, chemical and pharmaceutical, which fell 11 per cent. The decrease within these industries was mainly due to a decline in prices of refined petroleum products in February 2016.

Lower investment activities in the oil and gas sector led to the decline in machinery and equipment and the building of ships, boats and oil platforms, which fell 8.4 and 13 per cent respectively.

Although the total turnover in Norwegian manufacturing went down in this period, food products showed a prominent growth of 3.5 per cent. The growth in food products was particularly strong within fish and fish products.

Monthly change: notable decline in machinery and equipment

Total Norwegian manufacturing turnover went down 0.4 per cent from March to April 2016, according to seasonally-adjusted figures. Machinery and equipment showed a strong decline of 9.5 per cent, and was followed by a decrease in the grouping refined petroleum, chemical and pharmaceutical industries with 1.4 per cent.

On the contrary, building of ships, boats and oil platforms industry showed a growth of 8.5 per cent. In addition to fabricated metal products which increased 7.0 per cent, these industries curbed the reduction in total turnover in this period.

Twelve-month change: strong fall in turnover from April 2015

Calendar-adjusted figures showed that the total turnover edged down 8.6 per cent in April 2016 compared to April 2015. Both the domestic and the export market faced a negative trend, 5.2 and 13 per cent respectively.

The biggest contributor to pulling down total manufacturing turnover was machinery and equipment, which decreased by 32 per cent. Food products had the largest share, curbing the fall with a 6.6 per cent increase.

Monthly change: slight rise in the euro area and Norway in March 2016

Norwegian manufacturing turnover went up 1.3 per cent from February to March 201, according to seasonally-adjusted figures. Manufacturing turnover in the euro area faced a slight decline of 1.0 per cent. In the Nordic countries, Denmark and Sweden also showed a decrease of 5.7 and 2.6 per cent respectively from February to March 2015, according to Eurostat.

On the effect of EasterOpen and readClose

It is important to be aware that the uncertainty for the calendar-adjusted and seasonally-adjusted indices for March and April is greater than normal due to the changed placing of Easter. This effect will also affect the seasonally-adjusted figures for the 1st and 2nd quarters. This is accounted for when adjusting for seasonal variations. However, it can still be difficult to adjust for all impacts.