Index of industrial production, November 2016

The index level for Norwegian manufacturing from September to November 2016 amounted to 111.7 (2005=100). The corresponding figure for the previous three-month period was 112.4. 

Three-month change: low production within food and food products

According to seasonally-adjusted figures, manufacturing output saw a minor decline of 0.6 per cent from September to November 2016, compared to the previous three-month period. This decrease was mainly due to low production in food and food products, and in the industry grouping refined petroleum, chemicals and pharmaceutical products, which declined 2.2 and 2.3 per cent respectively. The decrease in food and food products can partly be explained by a decline in processing and preserving of fish due to forced production in previous months as well as to reduced fishing quotas. Within the industry grouping refined petroleum, chemicals and pharmaceutical products, the decline is related to planned maintenance shutdown among some leading suppliers. 

On the other hand, fabricated metal products and computer and electrical equipment contributed to curb the overall decline in manufacturing output, with an increase of 2.5 and 1.8 per cent respectively. 

Output in petroleum-related manufacturing also saw an increase in this three-month period, compared to the previous one. This increase is related to low production in august within this analytical grouping. 

Monthly change: unchanged manufacturing output from October to November 2016

According to seasonally-adjusted figures, manufacturing output remained virtually unchanged from October to November 2016. In this period machinery and equipment as well as ships, boats and oil platforms saw a clear decline, while food and food products and basic chemicals experienced an increase. The pronounced growth within basic chemicals must be seen in context with planned maintenance shutdown among some leading suppliers in October. 

Twelve-month change: decline in Norway, minor growth in the Euro area in October 2016

According to calendar-adjusted figures, Norwegian manufacturing output fell by 3.4 per cent from October 2015 to October 2016. Machinery and equipment together with repair and installation of machinery contributed most to this decline. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the euro area, increased by 0.4 per cent in the same period. 

Three-month change: minor fall in total industrial production (PII)

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply fell by 0.4 per cent from September to November 2016 compared to the previous three-month period. Extraction of crude petroleum increased 2.0 per cent, while extraction of natural gas saw a notable decline of 6.9 per cent. For more details about oil and gas extraction for November 2016, see the press release from The Norwegian Petroleum Directorate.

Support activities for petroleum and natural gas extraction fell by 4.3 per cent from September to November 2016 compared to the previous three-month period. Suppliers within this industry are negatively affected by a low investment level in the oil and gas industry. Production within Norwegian electricity supply increased 0.4 per cent in the same period, while mining and quarrying decreased 1.8 per cent.