Decline in manufacturing turnover

Industry ProfitsSeasonally-adjusted figures show a fall of 2.1 per cent in turnover in Norwegian manufacturing from February to April 2010 compared to the previous three-month period.

The turnover in Norwegian manufacturing fell by 5.0 per cent within the domestic market, while increasing 2.9 per cent in the export market according to seasonally-adjusted figures. Several industries showed lower results this period. Among these industries were building of ships, boats and oil platforms, down 13.7 per cent. Falls in both stocks and new orders in manufacturing are still affecting this industry. (See Statistics of new orders) Machinery and equipment dropped 4.3 per cent, mainly because of reduced turnover of 7.8 per cent within the export market. Repair, installation of machinery also showed a decline in turnover, down 8.9 per cent in this last three-month period.

Despite a higher production volume, turnover for food products fell by 5.6 per cent. This is partly due to lower turnover in the domestic market of 6.7 per cent.

Conversely, industries with a higher turnover included refined petroleum, chemicals and pharmaceuticals, by 6.8 per cent, mainly due to a boost in production volume. (See the index of production) Basic metals went up 7.7 per cent in total, while exports rose by 10.4 per cent. The positive tendency for this industry is driven by a favourable combination of higher production volume and prices several months in a row. In addition, turnover for wood and wood products went up by 4.6 per cent, which was almost entirely from the domestic market. An increase in production volume contributed to this result.

Fall in turnover from March to April

Seasonally-adjusted figures showed a decrease in Norwegian manufacturing turnover by 2.9 per cent from March to April this year. Turnover within the export market had a strong fall of 11.2 per cent. The major contributors to this result were building of ships, boats and oil platforms, with a fall of 23.3 per cent, and food products by 7.4 per cent. The latter grouping experienced a decrease in producers’ prices in this last month, which can partially explain the negative result. (See producer price index)

Slight increase from April 2010 compared to April 2009

Unadjusted figures showed a small increase of 0.5 per cent in total manufacturing turnover in April 2010 compared to April 2009. Turnover in the export market fell by 4.5 per cent, while increasing 3.6 per cent in the domestic market.

Norway and the Euro area

Unadjusted figures show that there was a 2.2 per cent fall in Norwegian manufacturing turnover from March 2009 to March 2010. Manufacturing turnover in the Euro area went up 10.8 per cent in the same period, according to figures published by Eurostat.

Source: Norway Statistics

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