Small increase in manufacturing output in the second quarter

The Index of industrial production in the second quarter of 2017 amounted to 114.3 (2005=100). The corresponding figure for the first quarter was 113.5. Smoothed seasonally-adjusted figures show a turning point for manufacturing output in September 2016, and that since then the activity has risen somewhat.

Three-month change: growth within ships, boats and oil platforms

According to seasonally-adjusted figures, manufacturing output saw a minor increase of 0.7 per cent in the second quarter of 2017 compared to the previous quarter. Ships, boats and oil platforms contributed most to the overall growth, with an increase of 5.4 per cent. This increase is related to a particularly high activity level in April among some leading suppliers. Repair and installation of machinery also experienced an increase in the same period of 3.6 per cent.

Petroleum-related manufacturing saw an overall growth of 2.2 per cent in the second quarter compared to the first quarter. For more details about how petroleum-related manufacturing affects the overall development in manufacturing, see the article Norwegian Manufacturing 2016 – a tough year for manufacturing.

On the contrary, refined petroleum, chemicals and pharmaceuticals together with food products contributed to dampen the overall increase in manufacturing output.

Monthly change: small decline in manufacturing from May to June 2017

According to seasonally-adjusted figures, manufacturing output saw a small decline of 0.6 per cent from May to June 2017. Ships, boats and oil platforms together with non-ferrous metals contributed most to this decline. At the same time, the industry grouping food, beverages and tobacco, together with basic chemicals, saw an increase in output which contributed to dampen the overall decline in manufacturing output.

Twelve-month change: steady development in Norway, clear growth in the Euro area in May 2017

According to calendar-adjusted figures, Norwegian manufacturing was unchanged from May 2016 to May 2017. Output in machinery and equipment fell the most in this period, while refined petroleum, chemicals and pharmaceuticals contributed the most to pull up the overall manufacturing output. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area increased by 4.3 per cent in the same period.

Three-month change: the total industrial production (PII) was unchanged

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, was unchanged in the second quarter of 2017 compared with the first quarter. Extraction of crude petroleum went up 2.2 per cent, while extraction of natural gas saw a decrease of 0.4 per cent. For more details about oil and gas extraction for June 2017, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, output saw an increase equivalent to 2.3 per cent in the second quarter compared with the previous quarter. Suppliers within this industry have long been negatively affected by a lower investment level in the Norwegian oil and gas industry, however there are now some indications of improvement.

In the same period mining and quarrying saw a clear decline of 5.7 per cent, while production within Norwegian electricity supply went slightly up by 2.1 per cent.