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

The index value for turnover in manufacturing was 138.7 (2005=100) in the period May to July 2016, compared to 138.3 in the previous three-month period, according to seasonally-adjusted figures.

Three-month change: pronounced fall in machinery and equipment

Although manufacturing turnover was almost unchanged, some of the industrial sectors showed notable changes, both positive and negative.

Several large deliveries within the building of ships, boats and oil platforms and higher prices in the grouping refined petroleum products, and chemical and pharmaceutical products industry accounted these industries for the biggest contributors to the positive trend in the turnover.

However, machinery and equipment which recorded a strong decrease of 23 per cent was the biggest contributor to curb the growth. The falling trend in the investment activities in oil and gas sector is the main cause of the total decline in this industry.

Monthly change: decline in manufacturing turnover from June to July 2016

Total Norwegian manufacturing turnover went down 2.4 per cent from June to July 2016, according to seasonally-adjusted figures. Machinery and equipment had the largest negative share, while basic metals recorded the largest positive share in the total turnover.

Monthly change: decline in Norway and the euro area from May to June 2016

Manufacturing turnover in Norway and the euro area went down 1.4 and 1.5 per cent respectively from May to June 2016 according to seasonally-adjusted figures. In the Nordic countries, Sweden showed an unchanged level of turnover, while Denmark showed a slight increase of 0.3 per cent, according to Eurostat.