Minor changes in manufacturing output

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Norwegian manufacturing output saw a minor increase of 0.4 per cent from March to May 2017 compared to the previous three-month period, according to seasonally-adjusted figures. On a month to month basis, from April to May 2017, manufacturing output went down 0.3 per cent.

The Index of industrial production from March to May 2017 amounted to 114.1 (2005=100). The corresponding figure for the previous three-month period was 113.7. Smoothed seasonally-adjusted figures show a turning point for manufacturing output in September 2016, and since then the activity has risen somewhat.

Figure 1. Production development in manufacturing. Seasonally adjusted and smoothed seasonally adjusted figures. 2005=100

Smoothed seasonally adjusted Seasonally adjusted
Jan. 2012 113.89 114.6
Feb. 2012 113.98 113.9
Mar. 2012 114.09 113.51
Apr. 2012 114.34 113.74
May 2012 114.74 115.89
June 2012 115.25 114.82
July 2012 115.77 115.09
Aug. 2012 116.19 117.09
Sep. 2012 116.48 116.56
Oct. 2012 116.69 116.75
Nov. 2012 116.96 117.06
Dec. 2012 117.3 116.29
Jan. 2013 117.83 118.08
Feb. 2013 118.43 118.83
Mar. 2013 119.15 117.1
Apr. 2013 119.85 120.49
May. 2013 120.42 119.44
June 2013 120.75 121.23
July 2013 120.82 121.83
Aug. 2013 120.69 120.44
Sep. 2013 120.5 120.28
Oct. 2013 120.36 120.19
Nov. 2013 120.39 119.65
Dec. 2013 120.56 120.76
Jan. 2014 120.89 121.52
Feb. 2014 121.25 121.48
Mar. 2014 121.72 121.54
Apr. 2014 122.36 121.76
May 2014 123.19 122.42
June 2014 124.13 124.84
July 2014 125.03 124.98
Aug. 2014 125.71 126.66
Sep. 2014 126.03 122.71
Oct. 2014 125.92 126.36
Nov. 2014 125.5 124.86
Dec. 2014 124.82 125.71
Jan. 2015 123.99 122.03
Feb. 2015 123.03 122.55
Mar. 2015 121.96 125.89
Apr. 2015 120.89 121.45
May 2015 119.9 118.89
June 2015 119.04 119.96
July 2015 118.36 117.26
Aug. 2015 117.79 117.74
Sep. 2015 117.27 118.44
Oct. 2015 116.79 115.89
Nov. 2015 116.32 117.07
Dec. 2015 115.92 115.87
Jan. 2016 115.62 114.54
Feb. 2016 115.34 115.34
Mar. 2016 115.07 116.84
Apr. 2016 114.7 114.57
May 2016 114.17 114.75
June 2016 113.54 112.13
July 2016 112.88 116.46
Aug. 2016 112.4 109.32
Sep. 2016 112.25 111.89
Oct. 2016 112.34 112.2
Nov. 2016 112.61 112.18
Dec. 2016 112.98 113.5
Jan. 2017 113.35 113.81
Feb. 2017 113.71 113.73
Mar. 2017 113.97 112.93
Apr. 2017 114.09 114.75
May 2017 114.06 114.46

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

According to seasonally-adjusted figures, manufacturing output saw a minor increase of 0.4 per cent from March to May 2017 compared to the previous three-month period. Ships, boats and oil platforms contributed most to the overall growth, with an increase of 2.8 per cent. This increase is related to a particularly high activity level in April among some leading suppliers. There was also some growth within repair and installation of machinery.

At the same time, other petroleum-related industries like machinery and equipment and computer and electrical equipment, contributed to dampen the overall increase in manufacturing output. Petroleum-related manufacturing experienced an overall decline of 0.9 per cent. 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.

Figure 2. Selected industries in manufacturing. Seasonally adjusted, 3-month percentage change. March 2017- May 2017/December 2016-February 2017

3-month percentage change
Machinery and equipment -3.1
Computer and electrical equipment -2.9
Repair, installation of machinery 1.6
Ships, boats and oil platforms 2.8

Figure 3. Indicator for petroleum-related industries. Seasonally adjusted.

Petroleum-related manufacturing and support activities Petroleum-related manufacturing Manufacturing ex. petroleum-related industries
Jan. 2007 124.1 105.3
Feb. 2007 124.7 105.8
Mar. 2007 124.9 105.7
Apr. 2007 126.5 105.5
May 2007 130 106.7
June 2007 132.5 106.2
July 2007 132.9 106.5
Aug. 2007 132.8 105.3
Sep. 2007 133 105.5
Oct. 2007 134.6 105.2
Nov. 2007 135.7 104.9
Dec. 2007 137.7 104.7
Jan. 2008 139.9 104.8
Feb. 2008 142.1 105.6
Mar. 2008 141.8 105.1
Apr. 2008 144.5 106.1
May 2008 148.4 105.9
June 2008 152.9 106.2
July 2008 156.2 104.1
Aug. 2008 156.3 103.4
Sep. 2008 156.7 102.1
Oct. 2008 155.8 101.3
Nov. 2008 155.7 99.8
Dec. 2008 156.1 98.5
Jan. 2009 156.2 96.7
Feb. 2009 157 94.9
Mar. 2009 157.5 93.3
Apr. 2009 157.1 92.1
May 2009 156.6 91
June 2009 154.8 90.3
July 2009 153.5 90.2
Aug. 2009 152.8 90.7
Sep. 2009 153.5 92
Oct. 2009 153.8 92.9
Nov. 2009 153.2 93.8
Dec. 2009 151.7 94.3
Jan. 2010 143.9 151 94.7
Feb. 2010 143.2 150.6 95.3
Mar. 2010 144.9 151.4 95.9
Apr. 2010 145.8 151.9 96.5
May 2010 143.4 151.6 96
June 2010 143.1 152.3 96.7
July 2010 142.3 152.3 98.2
Aug. 2010 142.2 152 98.6
Sep. 2010 143 151.4 98.5
Oct. 2010 144.8 151.2 97.7
Nov. 2010 148.2 152.6 99
Dec. 2010 151 152.7 99
Jan. 2011 149.9 153 99
Feb. 2011 149.5 153.1 98.8
Mar. 2011 147.3 153.3 99.6
Apr. 2011 148.9 151.8 99.6
May 2011 150.6 152.7 99.4
June 2011 152.3 151.9 97.8
July 2011 154.2 153 95.7
Aug. 2011 155.9 154.5 94.2
Sep. 2011 159.1 158.7 94.5
Oct. 2011 161.2 163.3 95.6
Nov. 2011 162.8 164.7 96.3
Dec. 2011 164.7 166.6 95.3
Jan. 2012 167.1 167.9 95.3
Feb. 2012 169.5 168.4 95.2
Mar. 2012 167.6 168 95.5
Apr. 2012 164.7 166.2 95.6
May 2012 164.7 167.9 95.9
June 2012 168.2 169.3 95.9
July 2012 170.5 172.3 95.6
Aug. 2012 172.8 174.4 95.4
Sep. 2012 173.5 177 95.4
Oct. 2012 177.6 179.7 95
Nov. 2012 178.1 180.9 94.6
Dec. 2012 179.1 181.6 94.4
Jan. 2013 180.3 183.2 94.5
Feb. 2013 182.5 186.1 94.2
Mar. 2013 186.7 188.2 93.8
Apr. 2013 187.8 191.5 93.4
May 2013 189.3 193.5 93
June 2013 190.8 197.6 93.4
July 2013 193.8 198.7 93.9
Aug. 2013 194.1 198.2 94.6
Sep. 2013 193.8 196.9 94.6
Oct. 2013 191.5 195 94.6
Nov. 2013 193 195.2 94.1
Dec. 2013 194 195.2 94.2
Jan. 2014 196.1 196.8 94.1
Feb. 2014 196.4 198.7 94.2
Mar. 2014 195.8 200.9 93.9
Apr. 2014 195.6 200.9 94.1
May 2014 197.1 201.3 94.4
June 2014 199.6 203.1 95.2
July 2014 199.6 207 95.1
Aug. 2014 201.7 211.7 95.2
Sep. 2014 201.6 212.3 94.2
Oct. 2014 205.9 213.5 94.4
Nov. 2014 204.2 212.7 94
Dec. 2014 203.4 215.2 94.5
Jan. 2015 199.7 213.4 93.5
Feb. 2015 196.6 210.7 93.4
Mar. 2015 194.9 208.9 94
Apr. 2015 193.5 206.1 94.5
May 2015 188.6 202.7 94.1
June 2015 184.2 195.6 93.8
July 2015 181.3 191.3 92.9
Aug. 2015 180.1 187.4 93.3
Sep. 2015 178.4 186.2 93.1
Oct. 2015 173.4 184.2 93.9
Nov. 2015 171.8 182.7 94.2
Dec. 2015 168 178.7 94.2
Jan. 2016 165.1 177.2 94.1
Feb. 2016 164.2 174.9 94.2
Mar. 2016 164.7 175.7 94.5
Apr. 2016 163.9 174.3 94.9
May 2016 160.5 172.7 95.1
June 2016 156.8 167.5 94.7
July 2016 158.4 166 95.2
Aug. 2016 153.9 158 95
Sep. 2016 152.7 157.3 95.2
Oct. 2016 148.8 155.5 94.8
Nov. 2016 151.1 160.1 95
Dec. 2016 151.5 161.5 95.3
Jan. 2017 151 159.9 96.5
Feb. 2017 149.2 159.4 97.5
Mar. 2017 145.7 155.6 98.1
Apr. 2017 147 157.5 98.1
May 2017 147.9 157.9 98.1

Monthly change: small decrease in manufacturing from April to May 2017

According to seasonally-adjusted figures, manufacturing output saw a small decline of 0.3 per cent from April to May 2017. Ships, boats and oil platforms, together with food products contributed most to the overall decrease. Within the first mentioned industry, the decline is related to a high level of production in April despite of Easter, while in the latter, the fall is due to low production within processing and preservation of fish. At the same time, the industry grouping refined petroleum, chemicals and pharmaceuticals experienced a clear growth, related to high production of pharmaceutical products.

Twelve-month change: minor increase in Norway, clear growth in the Euro area in April 2017

According to calendar-adjusted figures, Norwegian manufacturing had a minor increase of 0.4 per cent from April 2016 to April 2017. The industry grouping refined petroleum, chemicals and pharmaceuticals contributed most to this growth, with an increase of 10.1 per cent. Estimated figures from Eurostat, the EU’s statistical office, indicate that output in manufacturing in the Euro area increased by 1.7 per cent in the same period.

Figure 4. Index of production for manufacturing. Euro area and Norway (2010=100). Seasonally adjusted

Euro area Norway
Jan. 2012 103.00 102.90
Feb. 2012 102.30 102.20
Mar. 2012 103.80 101.90
Apr. 2012 101.80 102.10
May. 2012 103.10 104.00
June. 2012 102.10 103.10
July. 2012 102.90 103.30
Aug. 2012 103.80 105.10
Sep. 2012 101.80 104.60
Oct. 2012 100.90 104.80
Nov. 2012 100.00 105.10
Dec. 2012 100.60 104.40
Jan. 2013 100.20 106.00
Feb. 2013 100.00 106.70
Mar. 2013 100.70 105.10
Apr. 2013 101.20 108.20
May. 2013 101.40 107.20
June. 2013 101.90 108.80
July. 2013 101.10 109.40
Aug. 2013 101.90 108.10
Sep. 2013 102.10 108.00
Oct. 2013 101.70 107.90
Nov. 2013 103.00 107.40
Dec. 2013 102.80 108.40
Jan. 2014 103.10 109.10
Feb. 2014 103.50 109.10
Mar. 2014 103.00 109.10
Apr. 2014 104.10 109.30
May. 2014 102.90 110.00
June. 2014 102.60 112.10
July. 2014 103.70 112.20
Aug. 2014 101.80 113.70
Sep. 2014 103.10 110.20
Oct. 2014 103.20 113.40
Nov. 2014 103.20 112.10
Dec. 2014 104.40 112.90
Jan. 2015 103.90 109.50
Feb. 2015 105.20 110.00
Mar. 2015 105.90 112.90
Apr. 2015 105.30 109.00
May. 2015 105.80 106.90
June. 2015 105.80 107.70
July. 2015 106.20 105.30
Aug. 2015 105.40 105.70
Sep. 2015 105.80 106.30
Oct. 2015 106.60 104.10
Nov. 2015 105.90 105.10
Dec. 2015 106.00 104.00
Jan. 2016 108.40 102.80
Feb. 2016 107.00 103.50
Mar. 2016 105.80 104.80
Apr. 2016 107.40 102.80
May. 2016 106.30 103.30
June. 2016 107.00 100.70
July. 2016 106.30 104.60
Aug. 2016 108.10 98.20
Sep. 2016 107.30 100.50
Oct. 2016 107.20 100.70
Nov. 2016 109.00 100.70
Dec. 2016 108.00 101.80
Jan. 2017 107.80 102.10
Feb. 2017 108.30 102.00
Mar. 2017 109.10 101.20
Apr. 2017 109.20 102.90
May. 2017

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

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply, increased by 0.9 per cent from March to May 2017 compared with the previous three-month period. Extraction of crude petroleum went up 1.5 per cent, while extraction of natural gas saw an increase of 1.2 per cent. For more details about oil and gas extraction for May 2017, see the press release from The Norwegian Petroleum Directorate.

Within support activities for petroleum and natural gas extraction, output saw a decline equivalent to 1.0 per cent from March to May 2017 compared with the previous three-month period. Suppliers within this industry are negatively affected by a lower investment level in the Norwegian oil and gas industry. In spite of a continuing downturn in this industry, there are indications that the decline is starting to level off.

In the same period mining and quarrying saw a clear decline of 6.9 per cent, while production within Norwegian electricity supply went up 0.4 per cent.

Figure 5. Production development. Seasonally adjusted. Three-month moving average¹. 2005=100

Manufacturing Extraction, mining, manufacturing and elec. Extraction and related services
Jan. 2007 110.3 96.9 92.6
Feb. 2007 110.8 97.3 92.9
Mar. 2007 110.6 96.3 91.6
Apr. 2007 111 97.8 93.3
May. 2007 112.9 97.6 92.2
June. 2007 113.2 96.5 90.1
July. 2007 113.6 95.4 88
Aug. 2007 112.6 96 88.9
Sep. 2007 112.8 98.2 91.7
Oct. 2007 112.9 98.3 91.9
Nov. 2007 113 97.9 91.7
Dec. 2007 113.5 96.5 90.2
Jan. 2008 114.1 95.9 89.4
Feb. 2008 115.3 95.5 88.4
Mar. 2008 114.6 96.1 89.3
Apr. 2008 116.1 96.7 89.2
May. 2008 117.1 97.9 90.4
June. 2008 118.7 98.5 90.4
July. 2008 117.6 98.8 91.4
Aug. 2008 117 96.8 88.9
Sep. 2008 116.2 95.8 88.2
Oct. 2008 115.6 95.4 88
Nov. 2008 114.4 97 90.6
Dec. 2008 113.5 97.7 91.8
Jan. 2009 112.1 96.9 91.1
Feb. 2009 110.9 97.3 92.1
Mar. 2009 109.8 96.5 91.3
Apr. 2009 108.9 96 90.9
May. 2009 107.6 93.4 87.7
June. 2009 106.7 92.2 86.6
July. 2009 106.1 91.5 86.1
Aug. 2009 106.6 92.2 86.9
Sep. 2009 107.7 93.2 87.6
Oct. 2009 108.5 93.3 87
Nov. 2009 109.2 93.4 86.8
Dec. 2009 109.3 92.5 85.4
Jan. 2010 109.4 92.3 85.1
Feb. 2010 109.7 92 84.7
Mar. 2010 110.1 91.6 84.4
Apr. 2010 110.8 90.9 83.8
May. 2010 110.3 90.3 83.6
June. 2010 111.1 89.3 82.2
July. 2010 111.8 88.1 80.4
Aug. 2010 112 84.9 75.7
Sep. 2010 111.7 83.6 73.7
Oct. 2010 111.4 84.8 75.3
Nov. 2010 112.6 87.4 77.9
Dec. 2010 112.6 89.1 80
Jan. 2011 112.7 87.7 78.4
Feb. 2011 112.6 87 77.9
Mar. 2011 113.1 85.8 76.5
Apr. 2011 112.9 84.7 74.9
May. 2011 113 82.3 71.1
June. 2011 111.7 81.7 70
July. 2011 110.2 81.9 69.7
Aug. 2011 109.6 84.3 72.6
Sep. 2011 110.9 85.6 74.2
Oct. 2011 112.9 86.1 74.5
Nov. 2011 113.8 86.4 74.7
Dec. 2011 113.5 85.3 73.6
Jan. 2012 113.9 86.6 74.8
Feb. 2012 113.9 87.3 75.1
Mar. 2012 114 88.4 75.8
Apr. 2012 113.7 88.4 75.5
May. 2012 114.4 88.5 75.5
June. 2012 114.8 88.9 76
July. 2012 115.3 88 75.1
Aug. 2012 115.7 87.3 74
Sep. 2012 116.3 85 70.4
Oct. 2012 116.8 85.2 70.4
Nov. 2012 116.8 84.3 69.3
Dec. 2012 116.7 85.3 70.9
Jan. 2013 117.2 83.8 70.1
Feb. 2013 117.7 82.4 69.3
Mar. 2013 118 80.7 68.4
Apr. 2013 118.8 81.1 68.9
May. 2013 119 82.8 71.1
June. 2013 120.4 84 72.4
July. 2013 120.8 85.1 73.6
Aug. 2013 121.1 84.5 72.8
Sep. 2013 120.8 83.9 72.1
Oct. 2013 120.3 81.6 69.4
Nov. 2013 120.1 81.5 69.3
Dec. 2013 120.2 82 69.9
Jan. 2014 120.7 83.7 71.5
Feb. 2014 121.3 84.3 71.8
Mar. 2014 121.5 85.2 72.3
Apr. 2014 121.6 85.3 72.2
May. 2014 121.9 84.1 70.2
June. 2014 123 84 69.4
July. 2014 124.1 83.8 69
Aug. 2014 125.5 85 70.5
Sep. 2014 124.8 85.8 71.8
Oct. 2014 125.3 87 73.3
Nov. 2014 124.7 87.5 74.1
Dec. 2014 125.7 87.3 73.5
Jan. 2015 124.2 86.2 72.4
Feb. 2015 123.4 86.1 72.7
Mar. 2015 123.5 86.2 72.9
Apr. 2015 123.3 85.3 71.6
May. 2015 122.1 84.8 71.2
June. 2015 120.1 85 72.1
July. 2015 118.7 86.4 74.4
Aug. 2015 118.3 87.4 76
Sep. 2015 117.8 88 77
Oct. 2015 117.3 87.9 76.9
Nov. 2015 117.1 87 75.7
Dec. 2015 116.3 85.3 73.8
Jan. 2016 115.8 85.4 73.8
Feb. 2016 115.2 85.5 74
Mar. 2016 115.5 85.8 73.8
Apr. 2016 115.6 85.9 74.1
May. 2016 115.4 86.1 74.5
June. 2016 113.8 85.2 73.9
July. 2016 114.5 85.2 73.8
Aug. 2016 112.6 83.9 72.6
Sep. 2016 112.6 82.3 70.4
Oct. 2016 111.1 82.2 70.7
Nov. 2016 112.1 83.6 72.3
Dec. 2016 112.6 85.6 74.9
Jan. 2017 113.2 85.9 74.5
Feb. 2017 113.7 86 73.6
Mar. 2017 113.5 86.8 74.1
Apr. 2017 113.8 86.9 74.1
May. 2017 114.1 86.8 73.9

On the effect of Easter

It is important to be aware that the uncertainty for the calendar-adjusted and seasonally-adjusted indices for March and April is greater than normal due to the changed placing of Easter. This effect will also affect the seasonally-adjusted figures for the 1st and 2nd quarters. This is accounted for when adjusting for seasonal variations. However, it can still be difficult to adjust for all impacts.