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This is an archived release.
Continued growth in manufacturing
Production in manufacturing increased by 2.5 per cent from June to August 2012 compared with the previous three-month period, according to seasonally-adjusted figures.
Industries like machinery and equipment, and ships, boats and oil platforms had a continued production growth in this period. This can be related to a strong increase in new orders for these industries (see statistics for new orders) , due to a very high level of investments within the Norwegian petroleum sector (see investments oil and gas activity ). The activity within machinery and equipment, and ships, boats and oil platforms is now at a record high level, with a volume growth of 80 and 77 per cent respectively since 2005. Furthermore, production in food products also went up in this period, due to a solid increase in dairy products. Production of basic chemicals increased from June to August 2012 after extensive revision stop at several installations in the preceding months. On the other hand, industries such as basic metals had a downturn in production from June to August 2012 compared with the previous three-month period as a result of a weaker international market and lower prices (see producer price index ).
From August 2011 to August 2012
Manufacturing saw growth of 5.6 per cent from August 2011 to August 2012 according to working-day adjusted figures. Industries like food products, machinery and equipment, and ships, boats and oil platforms had strong production growth. Basic chemicals, paper and paper products, and basic metals had a substantial drop in production in the same period.
From July to August 2012
The production in Norwegian manufacturing went up by 0.9 per cent from July to August 2012, according to seasonally-adjusted figures. Food products, basic chemicals together with ships, boats and oil platforms had a growth in production, while paper and paper products and basic metals had a decrease in production.
Norway and the euro area
There was a 7.6 per cent increase in Norwegian manufacturing output from July 2011 to July 2012, according to working-day adjusted figures. Industrial production in the euro area decreased by 2.3 per cent in the same period, according to figures published by Eurostat .
| Adjusted for working-days 1 | Seasonally adjusted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2011- August 2012 | January 2011-August 2011- January 2012-August 2012 | July 2012- August 2012 | March 2012-May 2012- June 2012-August 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The overall index | 1.9 | 5.1 | 0.3 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Oil and Gas Extraction | -2.2 | 2.5 | -0.5 | -0.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Manufacturing | 5.6 | 2.6 | 0.9 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Electricity, Gas and Steam Supply | 6.2 | 23.0 | 3.7 | -3.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Main industrial groupings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intermediate goods | 4.1 | 2.5 | 2.4 | 1.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital goods | 9.1 | 9.7 | 1.8 | 4.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer goods | 8.1 | 0.7 | 0.5 | 3.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Energy goods | -2.6 | 3.8 | 1.1 | -0.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1 | Adjusted for working-days and for public holidays in Norway. |
Interpretation of seasonally-adjusted figuresIn order to facilitate the interpretation of the short-term development, the index of production publishes three-month moving averages of the seasonally-adjusted figures. We normally compare the latest non-overlapping three-month periods, for instance June to August 2012 compared with March 2012 to May 2012. Seasonally-adjusted monthly changes must be interpreted with caution. |
Number of hours workedThe numbers of hours worked by contracted workers is included in the calculation of the Index of production for the first time from January 2012 onwards. These numbers are collected from January 2011. The inclusion of numbers of hours worked by contracted workers may lead to somewhat larger short-term fluctuations for some industries. At the same time, the development will be more accurately measured for industries where hours worked are used as an indicator. Industries like ships, boats and oil platforms and repair and installation of machinery typically use contracted workers in periods with high activity. |
New projectsNew projects in industries with hours worked as an indicator are intercepted at start-up, as long as the project is carried out by establishments covered by the sample. It is the total number of hours carried out in the survey period that is reported, regardless of which project the hours are spent on. |
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