Growth in manufacturing output

The index level for Norwegian manufacturing from September to November 2018 amounted to 117.1 (2005=100). The corresponding figure for the previous three-month period was 116. The long term trend now shows growth throughout 2018 (see figure 1).

Three-month change: high activity in ships, boats and oil platforms

According to seasonally-adjusted figures, manufacturing output saw an increase of 0.9 per cent from September to November 2018 compared to the previous three-month period. The growth is particularly related to a significant increase equivalent to 9.0 per cent within ships, boats and oil platforms. High activity within ship building is the main reason behind this upturn. The analytical grouping petroleum-related manufacturing saw an overall increase of 2.8 per cent. In addition, the industry grouping refined petroleum, chemicals and pharmaceuticals also contributed positively with an increase of 1.9 per cent.

On the other hand, the overall output increase was dampened by a production fall in food products. The industry decreased 2.5 per cent due to lower production within processing and preserving of fish. One contributing factor in this three-month period was relative low mackerel output due to reduced fishing quotas.

Monthly change: no changes from October to November

According to seasonally-adjusted figures, overall manufacturing output was unchanged from October to November 2018.

Industries such as ships, boats and oil platforms, and repair and installation of machinery experienced growth in this period. On the other hand, the industry grouping rubber, plastic and mineral products together with basic metals contributed negatively with a production fall.

Marginal increase in the Euro area, clear growth in Norway in October

Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area increased marginally with 0.2 per cent from September to October 2018. In the same period, Norwegian manufacturing saw a clear output growth of 1.5 per cent.

Two of our neighboring countries, Sweden and Denmark, both saw a solid production increase of 3.2 and 1 per cent respectively.

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply had a decrease of 0.7 per cent from September to November 2018 compared to the previous three-month period. Extraction of crude petroleum went down 5 per cent, while extraction of natural gas saw a clear fall equivalent to 11.1 per cent. For more details about oil and gas extraction for November 2018, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, there was a clear output increase equivalent to 2.8 per cent, while mining and quarrying saw an output fall of 1.7 per cent.

In the same period, Norwegian electricity supply had a production rise of 12.7 per cent, and contributed thus to dampen the overall decline in the total industrial production. This increase within electricity supply must be seen in conjunction with low production in the previous three-month period due to a low level of rainfall.