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Gap widens within manufacturing
Production in manufacturing went down by 0.5 per cent from September to November 2012 compared with the previous three-month period, according to seasonally-adjusted figures. The gap between the industries has been increasing.
Industries such as machinery and equipment, and ships, boats and oil platforms had a continued high activity and production growth in the period. This was related to the strong growth in investments within the Norwegian petroleum sector (see investments in oil and gas activity ). There was a clear decline in production in industries such as paper and paper products, basic chemicals and basic metals. The low production of non-ferrous metals has been influenced by a weak international market and a high stock of goods. The differences between industries linked to the Norwegian oil and gas industries and more traditional Norwegian export industries have thereby continued to increase (see Economic trends for Norway and abroad ). There has also been a decline in the production of food products and wood and wood products from September to November 2012 compared with the previous three-month period, according to seasonally-adjusted figures.
From November 2011 to November 2012
The output in manufacturing saw a growth of 2.4 per cent from November 2011 to November 2012, according to working-day adjusted figures. Industries like machinery and equipment, together with ships, boats and oil platforms had a strong production growth, while basic chemicals and basic metals had a drop in production in the same period.
From October to November 2012
The production in Norwegian manufacturing went down by 0.1 per cent from October to November 2012, according to seasonally-adjusted figures. There has been continued growth in machinery and equipment and in ships, boats and oil platforms, while basic chemicals and basic metals saw a decrease in production.
Norway and the euro area
There was a 2.7 per cent increase in Norwegian manufacturing output from October 2011 to October 2012, according to working-day adjusted figures. Industrial production in the euro area decreased by 3.8 per cent in the same period according to figures published by Eurostat .
| Adjusted for working-days 1 | Seasonally adjusted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2011- November 2012 | January 2011-November 2011- January 2012-November 2012 | October 2012- November 2012 | June 2012-August 2012- September 2012-November 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The overall index | -3.5 | 3.1 | -3.6 | -4.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Oil and Gas Extraction | -7.8 | - | -5.9 | -7.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Manufacturing | 2.4 | 2.6 | -0.1 | -0.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Electricity, Gas and Steam Supply | -5.5 | 16.1 | -2.8 | -7.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Main industrial groupings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intermediate goods | -0.8 | 2.0 | -2.7 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital goods | 9.1 | 9.6 | 0.4 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer goods | 5.0 | 1.6 | 1.5 | -2.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Energy goods | -9.1 | 0.6 | -4.6 | -8.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1 | Adjusted for working-days and for moving holidays. |
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 September to November 2012 compared with June to August 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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