Clear decline in manufacturing output

The index level for Norwegian manufacturing from August to October 2017 amounted to 112.6 (2005=100). The corresponding figure for the previous three-month period was 115.2. Smoothed seasonally-adjusted figures indicate a falling trend for the last 4 months (see figure 1).

Three-month change: decrease in several manufacturing industries

According to seasonally-adjusted figures, manufacturing output saw a clear decrease of 2.3 per cent from August to October 2017 compared with the previous three-month period. This notable decline is particularly related to low production activity in August.

The overall manufacturing decrease is due to low production within both petroleum-related manufacturing and other branches of Norwegian manufacturing. The following industries contributed most to the total decline:

• basic metals: -1,1
• computer and electrical equipment: -1,9
• ships, boats and oil platforms: -1,8
• repair and installation of machinery: -1,7

The decline was partly dampened by growth within food products due to high activity within processing and preserving of fish.

Monthly change: increase in manufacturing from September to October 2017

According to seasonally-adjusted figures, manufacturing output increased by 0.7 per cent from September to October 2017. The industry grouping refined petroleum, chemicals and pharmaceuticals together with ships, boats and oil platforms contributed most to this growth. The increase within ships, boats and oil platforms in October is related to large projects among some leading suppliers.

Twelve-month change: stronger output growth in the Euro area than in Norway in September 2017

According to calendar-adjusted figures, Norwegian manufacturing output saw an increase of 1.2 per cent from September 2016 to September 2017. Computer and electrical equipment together with the industry grouping refined petroleum, chemicals and pharmaceuticals had the largest positive contribution. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area increased strongly by 3.9 per cent in the same period.

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, had a decline of 0.9 per cent from August to October 2017 compared with the previous three-month period. In this period, extraction of crude petroleum had a notable downturn of 8.3 per cent, while extraction of natural gas increased strongly by 5.2 per cent. For more details about oil and gas extraction for October 2017, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, output saw a clear decrease of 3.7 per cent from August to October 2017 compared with the previous three-month period. The decline is related to completion of some large projects in the previous months.

In the same period, mining and quarrying saw a decrease of 2.0 per cent, while production within Norwegian electricity supply went up by 2.7 per cent.