Index of industrial production, December 2006

High investments in the oil and gas activity in Norway during 2005 and 2006 and high stocks for building and fitting of supply boats for the Norwegian oil sector have contributed to the significant growth in the capital goods output in 2006. At the same time there has been an increased demand from abroad for Norwegian engineering products. Together these factors have effected a record-high production of capital goods in 2006. Oil platforms and modules have seen a 19.2 per cent growth in the output and fabricated metal products had an 11.9 per cent increase. Transport equipment and machinery and equipment have also experienced significant growth rates in 2006 compared with 2005.

Record-high production in non-ferrous metals in 2006

The intermediate goods output increased by 3.4 per cent in 2006 compared with the previous year, according to figures adjusted to the length of month. Increased demand from abroad has contributed to a growth in basic chemicals and non-ferrous metals. The production in non-ferrous metals was record- high in 2006 and experienced a 3.8 per cent growth compared with 2005. Lower demand from abroad and increased competition still effects part of the intermediate goods industries and the output in pulp, paper and paper products dropped by 8.0 per cent in 2006.

The output in consumer goods experienced a 0.6 per cent growth in 2006 compared with 2005. Non-durable consumer goods had a 0.8 per cent increase, while the production of durable consumer goods dropped by 1.8 per cent. Food products and publishing, printing and reproduction had an increase in the output.

The output in manufacturing experienced a 4.4 per cent growth in 2006 compared with 2005, according to figures adjusted to the length of month.

Significant growth in the fourth quarter of 2006

According to seasonally adjusted figures the output in manufacturing increased by 2.7 per cent in the fourth quarter of 2006 compared with the previous quarter. The growth in transport equipment and fabricated metal products has continued as well an increase in basic chemicals and non-ferrous metals.

The output in food products has also experienced a growth in the fourth quarter of 2006 compared with the third quarter of 2006.

Norway and the euro-zone

According to figures adjusted to length of month, there was a 4.7 per cent growth in the Norwegian manufacturing output from November 2005 to November 2006. The industrial production in the Euro zone increased by 2.5 per cent in the same period, according to figures from published by Eurostat.

Tables

Published tables