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Mixed trends in manufacturing output
Production in Norwegian manufacturing went up by 0.6 per cent from the second to the third quarter of 2013, according to seasonally-adjusted figures. However, the figures show clear differences between the different industries within Norwegian manufacturing in the third quarter of 2013. The (overall) index of industrial production (PII) also increased in this period, by 0.8 per cent, due to a rise in the extraction of crude petroleum.
| Seasonally adjusted | Calendar adjusted1 | Weights2 | ||
|---|---|---|---|---|
| Monthly change | Three-month change | Twelve-month change | ||
| September 2013 / August 2013 | July 2013 - September 2013 / April 2013 - June 2013 | September 2013 / September 2012 | ||
| 1Adjusted for working-days and for public holidays in Norway. | ||||
| 2The weights are updated annually, and are valid for the entire year. | ||||
| Extraction, mining, manufacturing and elec | 0.7 | 0.8 | -1.4 | 100.0 |
| Extraction and related services | 1.5 | 1.4 | 5.8 | 73.5 |
| Mining and quarrying | -2.6 | -0.6 | 13.0 | 0.6 |
| Manufacturing | -0.2 | 0.6 | 3.2 | 20.1 |
| Food, beverage and tobacco | -1.0 | 3.1 | 0.9 | 3.8 |
| Refined petro., chemicals, pharmac. | -2.2 | -2.7 | -7.1 | 2.0 |
| Basic metals | -0.5 | 1.8 | -2.0 | 1.1 |
| Machinery and equipment | -0.5 | 4.9 | 12.6 | 2.8 |
| Ships, boats and oil plattforms | 6.9 | -4.1 | 12.2 | 2.1 |
| Electricity, gas and steam | -3.2 | -3.2 | -9.5 | 5.9 |
Extraction of crude petroleum went up by 2.8 per cent, while extraction of natural gas decreased by 1.9 per cent from the second to the third quarter of 2013. On a month to month basis, from August to September 2013, the extraction of crude petroleum decreased by 7.8 per cent, according to seasonally-adjusted figures. This was related to planned maintenance work on the Norwegian continental shelf. For further details, refer to the press release from The Norwegian Petroleum Directorate .
Weaker growth in the third quarter for 2013
The 0.6 per cent production growth from the second to the third quarter of 2013 is lower compared with the previous quarter to quarter growth. There was a further increase in output for machinery and equipment, but other large industries such as ships, boats and oil platforms and repair and installation of machinery experienced a clear decline in production. The downturn in repair and installation of machinery can be related to increasing international competition for rig repairs contracts in 2013, and the fact that several large contracts have been allocated to firms abroad. However, improved demand abroad has given basis for new production growth for industries such as basic chemicals and non-ferrous metals. Moreover, production in food and food products also had a solid increase from the second to the third quarter of 2013, due to higher production of fish and fish products, and production of feed.
Increase in manufacturing from September 2012 to September 2013
Production in Norwegian manufacturing went up by 3.2 per cent from September 2012 to September 2013, according to calendar-adjusted figures. Industries such as machinery and equipment and ships, boats and oil platforms have seen a significant production growth in this period. On the other hand, paper and paper products, wood and wood products together with repair and installation of machinery experienced a decline in production.
Minor decline in manufacturing from August to September 2013
According to seasonally-adjusted figures, production in Norwegian manufacturing decreased by 0.2 per cent from August to September 2013 following a 0.8 per cent decline in the previous month to month period. Several industries within manufacturing experienced a production decline from August to September 2013, including food and food products, wood and wood products, fabricated metal products, machinery and equipment, as well as repair and installation of machinery. The downturn in repair and installation of machinery can be related to the completion of several large projects. On the other hand, ships, boats and oil platforms saw a new production growth in September 2013, after two consecutive months with a decline.
Norway and the euro area
There was a 3.0 per cent increase in Norwegian manufacturing output from August 2012 to August 2013, according to calendar-adjusted figures. Production in manufacturing industries in the euro area decreased by 2.3 per cent in the same period, according to calendar-adjusted figures published by Eurostat. However, from July to August 2013, the euro area experienced a production growth equivalent to 1.1 per cent, according to seasonally-adjusted figures.
Lower production within electricity supply from September 2012 to September 2013
Production within Norwegian electricity supply decreased by 9.5 per cent from September 2012 to September 2013, according to unadjusted figures.
Interpretation of seasonally-adjusted figuresOpen and readClose
In 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 July to September 2013 compared with April to June 2013. Seasonally-adjusted monthly changes must be interpreted with caution.
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Production and turnover
E-mail: prodoms@ssb.no