Higher new orders in industry

Total stocks in industry were 33 per cent higher in the second quarter of 2010 than in the corresponding quarter last year. Meanwhile, the fall in the stocks of new orders has levelled out.

After reporting falling new orders since the peak in the fourth quarter of 2007, the industry is now experiencing a climb. New orders received in industry were 33 per cent higher in the second quarter of 2010 than in the second quarter of 2009. Compared to the previous quarter, new orders received in industry were up by 28 per cent. A general improvement in the global market and increased new orders from the oil and gas sector has contributed to this. Simultaneously, the stock of orders is beginning to show signs of levelling out. Stocks of orders in industry were 21 per cent lower in the second quarter of 2010 than in the second quarter of 2009, but only 2 per cent lower than in the previous quarter. The rise in new orders in industry bears signs of future growth in the production in industry.

Most of the industries reported a growth in the new orders from the second quarter of 2009 to the second quarter of 2010. The development was especially positive within the industries basic metals, building of ships, boats and oil platforms and repair, installation and machinery. However, in the industry for fabricated metal products, there were a decline in both new orders and stocks of orders.

Change in value for new orders received and unfilled orders. Per cent
Industrial Classification New orders received (trend)1 Unfilled orders (original series)

Q2 2009-Q2 2010

Q4 2009-Q1 2010 Q1 2010-Q2 2010
Total 6,3 7.3 -20.8
Basic Chemicals 20.9 13.8 28.0
Basic Metals 28.8 21.2 8.3
Machinery and Equipment 23.1 22.5 -45.2
Ships, boats and oil plattforms 16.2 18.5 -19.7
1 Estimated annual changes in trend series, based on change in percentage from previous quarter,

converted to annual growth.

Source: Statistics Norway

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