Price index for cargo handling services

Traditionally more reliance was put on index of industrial production to gauge the performance of an economy. The decline of industrial production on the one hand and the rise of the service sector on the other in recent decades made it clear that producer price indices have to be complemented by price indices for services to accurately be able to measure the performance of a given economy. As manifestation of this realisation, Eurostat, through the regulation on short term statistics obliges member states and the EEA countries to implement a set of service price indices within stated time frame. The National Accounts Division at Statistics Norway also demands the development of service price indices for more accurate price measurements.

The price index for cargo handling services, NACE Rev. 2-code 52.240, was developed in compliance with the requirement set by the Statistical Office of the European Community (Eurostat), regulation (EC) No 1158/2005 and amending Council Regulation (EC) No 1165/98 concerning short-term statistics.

The objective of the project has been to develop a service price index for the industry that corresponds methodologically to international recommendations, and meet the National Accounts’ needs for detailed price data at product level. Moreover, the index will provide important information about market trends to market agents in the industry.

To meet the aforementioned objectives, the development process was reliant on international documents on the subject and recommendations in conjunction with studying local markets. A close interaction with major participants in the Norwegian goods handling industry has been important through out the process. Efforts were also made to tap in to international experiences.

Quarterly survey is carried out on a sample of respondents. The survey data goes back to the first quarter of 2008 and the sampling frame is limited to enterprises operating in harbours which deliver stevedoring services to external customers.

The index for cargo handling services was publishes for the first time during the first quarter of 2011 with indices going back to the first quarter of 2006. Indices for 2006 and 2007 were estimated based on the wages index for the industry. Quarterly publication for this index is available at Statistics Norway’s website under the umbrella for indices with in transport and storage at http://www.ssb.no/tpitralag_en/