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This is an archived release.
Significant decline in manufacturing
Production in Norwegian manufacturing plummeted by 3.8 per cent in the period May-July 2015 compared with the previous three-month period, according to seasonally-adjusted figures. The drop is due to low production within oil and gas-related industries. On a month to month basis, from June to July 2015, the manufacturing output also saw a decrease of 1.6 per cent.
| Seasonally adjusted | Calendar adjusted1 | Weights2 | ||
|---|---|---|---|---|
| Monthly change | Three-month change | Twelve-month change | ||
| July 2015 / June 2015 | May 2015 - July 2015 / February 2015 - April 2015 | July 2015 / July 2014 | ||
| 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 | -1.5 | 0.6 | 2.8 | 100.0 |
| Extraction and related services | -1.2 | 2.8 | 6.6 | 71.8 |
| Mining and quarrying | 4.3 | -1.3 | 3.8 | 0.6 |
| Manufacturing | -1.6 | -3.8 | -6.0 | 22.1 |
| Food, beverage and tobacco | 0.8 | -1.0 | -1.0 | 4.3 |
| Refined petro., chemicals, pharmac. | -7.6 | -0.5 | -4.8 | 2.0 |
| Basic metals | -3.3 | -0.1 | -8.5 | 0.9 |
| Machinery and equipment | -2.9 | -4.5 | -9.1 | 2.9 |
| Ships, boats and oil platforms | -2.6 | -12.9 | -24.8 | 2.3 |
| Electricity, gas and steam | -5.3 | 1.0 | 0.3 | 5.5 |
The index level for Norwegian manufacturing in the period May-July 2015 amounted to 119.2 (2005= 100). The corresponding figure for the previous three-month period was 123.9.
Three-month change: substantial drop in ships, boats and oil platforms
According to seasonally-adjusted figures, the manufacturing output saw a significant decrease of 3.8 per cent in the period May-July 2015 compared with the previous three-month period. The severe downturn relates to low production within oil and gas-related industries, and particularly among producers of ships, boats and oil platforms. Production within ships, boats and oil platforms declined by 12.9 per cent, and the activity level is now at its lowest since the second quarter of 2012. Other oil and gas-related industries also had a substantial decrease in production in the same period:
- Fabricated metal products
- Machinery and equipment
- Computer and electrical equipment
The decline in these industries can particularly be related to lower investment activity in the oil and gas sector, which among other things, has substantially reduced the use of contract workers.
On the other hand, basic chemicals together with non-ferrous metals saw a minor production increase in this period.
Monthly change: output decline from June to July 2015
Manufacturing output decreased by 1.6 per cent from June to July 2015, according to seasonally-adjusted figures. The largest contributions to the decline came from the industry group refined petroleum, basic chemicals and the pharmaceutical industry, and computer and electrical equipment. At the same time there was a production growth within repair and installation of machinery. The increase in this industry can be related to high activity among some leading producers.
Twelve-month change: clear fall in Norway, growth in the euro area in June 2015
From June 2014 to June 2015, production in Norwegian manufacturing saw a decrease equivalent to 3.8 per cent, according to calendar-adjusted figures. Ships, boats and oil platforms together with fabricated metal products contributed the most to the total output decrease. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in manufacturing in the euro area increased by 1.4 per cent in the same period.
Three-month change: minor increase in total industrial production (PII)
The overall production index (PII) covering extraction, mining, manufacturing and electricity supply increased by 0.6 per cent in the period May-July 2015 compared with the previous three-month period, according to seasonally-adjusted figures. In this period, extraction of crude petroleum and extraction of natural gas increased by 2.8 and 5.0 per cent respectively. For more details about oil and gas extraction for July 2015, see the press release from The Norwegian Petroleum Directorate.
Production within Norwegian electricity supply went up slightly by 1.0 per cent in the period May-July 2015 compared with the previous three-month period, according to seasonally-adjusted figures.
Contact
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Production and turnover
E-mail: prodoms@ssb.no