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Decline in production continues into 2016
Production in Norwegian manufacturing declined by 1.0 per cent in the period November 2015-January 2016 compared with the previous three-month period, according to seasonally-adjusted figures. Much of the decline continues to be due to low production within oil and gas-related industries. From December 2015 to January 2016, manufacturing production decreased by 1.0 per cent.
| Seasonally adjusted | Calendar adjusted1 | Weights2 | ||
|---|---|---|---|---|
| Monthly change | Three-month change | Twelve-month change | ||
| January 2016 / December 2015 | November 2015 - January 2016 / August 2015 - October 2015 | January 2016 / January 2015 | ||
| 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 | 0.0 | -3.2 | -0.2 | 100.0 |
| Extraction and related services | -0.5 | -4.7 | 1.6 | 71.4 |
| Mining and quarrying | -7.2 | -11.4 | -26.6 | 0.5 |
| Manufacturing | -1.0 | -1.0 | -6.3 | 23.1 |
| Food, beverage and tobacco | -0.5 | 1.9 | 3.0 | 4.7 |
| Refined petro., chemicals, pharmac. | -2.1 | 1.5 | 7.3 | 2.4 |
| Basic metals | 2.3 | 0.9 | 0.7 | 1.2 |
| Machinery and equipment | -2.0 | -1.0 | -12.8 | 3.0 |
| Ships, boats and oil platforms | 6.0 | -2.7 | -17.9 | 1.8 |
| Electricity, gas and steam | 9.2 | 0.6 | 11.7 | 4.9 |
The index level for Norwegian manufacturing in the period November 2015-January 2016 amounted to 115.5 (2005= 100). The corresponding figure for the previous three-month period was 116.7.
Three-month change: downturn in repair and installation of machinery
According to seasonally-adjusted figures, the manufacturing output saw a decrease of 1.0 per cent in the period November 2015-January 2016 compared with the previous three-month period. The downturn is still strongly related to low production within oil and gas-related industries and the lower investment activity in the Norwegian oil and gas sector. Repair and installation of machinery contributes most to the overall decline in the industry, with a decline of 9.0 per cent in this period. In addition, there was a decline within building of ships, boats and oil platforms and wood and wood products.
On the other hand, food and beverages together with paper and paper products, and basic chemicals had a production increase in this period.
Monthly change: lower production in January 2016 than in December 2015
According to seasonally-adjusted figures, the manufacturing output saw a minor decrease of 1.0 per cent from December 2015 to January 2016. The downturn comprises several industries, but especially fabricated metal products and machinery and equipment. The production decline that was present in the last six months of 2015 continues into 2016. For more information about production in Norwegian manufacturing, please see Statistics Norway’s article about the oil-related production decline in 2015 (in Norwegian).
In stark contrast to much of 2015, ships, boats and oil platforms saw a production increase of 6.0 per cent from December 2015 to January 2016. The increase is related to construction of ships amongst some leading producers.
Twelve-month change: distinct drop in Norway, unchanged in the euro area in December 2015
According to calendar-adjusted figures, production in Norwegian manufacturing dropped 7.7 per cent from December 2014 to December 2015. Ships, boats and oil platforms together with machinery and equipment contributed the most to the total output downturn. Estimated figures from Eurostat, the EU`s statistical office, indicate that production in manufacturing in the euro area was virtually unchanged with a small increase of 0.4 per cent in the same period.
Three-month change: clear fall in total industrial production (PII)
According to seasonally-adjusted figures, the overall production index (PII) covering extraction, mining, manufacturing and electricity supply decreased by 3.2 per cent in the period November 2015-January 2016 compared with the previous three-month period. Extraction of crude petroleum decreased by 2.2 per cent, while extraction of natural gas dropped 7.6 per cent in this period. For more details about oil and gas extraction for January 2016, see the press release from The Norwegian Petroleum Directorate.
Services in oil and gas extraction saw a production decline equivalent to 6.5 per cent in the period November 2015-January 2016. Producers within this industry have strong ties with the oil and gas industry, and the reduction in production should therefore be seen in conjunction with the declining investment activity within this industry.
Seasonally-adjusted figures also show that production within Norwegian electricity supply decreased by 0.6 per cent in the same period. Seasonally-adjusted figures also show that production within Norwegian electricity supply decreased by 0.6 per cent in the same period, while mining and quarrying fell by 11.4 percent.
Figures for services in oil and gas extraction are now in StatbankOpen and readClose
As from October 2015, figures for Services in oil and gas extraction will be published. According to SIC2007, Services in oil and gas extraction is grouped in section B Mining and quarrying. Producers within this industry supply, among other things, services related to drilling in exploration, appraisal and production wells, together with other services related to offshore activities such as installation of floating and fixed structures both above and below the sea floor. The time series is from the year 2010. This industry has always been a part of the aggregate Extraction and related services, but now its time series is also published separately in Statbank and tables.
Updated weights in the PIIOpen and readClose
The weights in the index of industrial production (PII) are updated by the transition to a new year. The basis for the weights in the index of industrial production (PII) is value added at factor prices from the annual structure statistics for oil and gas, manufacturing, electricity and district heating for 2014. The value added figures are updated to the situation at the end of 2015 with rates of change from the quarterly national account, and volume figures from the Norwegian Petroleum Directorate.
Industries such as food and food products, basic metals, and the industry group refined petroleum, basic chemicals and the pharmaceutical industry were among the industries that had the largest increase in weights from 2015 to 2016. On the other hand, weights for ships, boats and oil platforms and fabricated metal products had the largest drop from 2015 to 2016. The weights for services in oil and gas extraction declined from 2015 to 2016, while the weights for crude petroleum increased and natural gas decreased.
Productivity factorsOpen and readClose
As of January 2016, updated productivity factors will be included in the calculation of the index of industrial production (PII) covering extraction, mining, manufacturing and electricity supply. The factors are based on annual volume change in GDP per hour worked for the relevant industries and are an average from the last five years. This information is collected from the annual national accounts.
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Production and turnover
E-mail: prodoms@ssb.no