Increase in manufacturing turnover
The turnover in Norwegian manufacturing increased by 2.1 percent from November 2009 to January 2010 compared to the previous three-month period, according to seasonally adjusted figures. Turnover within the export market increased by 4.3 percent, and the home market by 1.7 percent in the same period.
The industry related to building of ships, boats and oil platforms contributed with a 14.7 percent increase. Several deliveries of large projects from November 2009 to January 2010 ensured an increase in turnover despite the strong drop in both stocks and new orders in manufacturing (see Statistics of new orders). Refined petroleum, chemicals and pharmaceuticals went up by 9.2 percent, while basic metals increased by 2.1 percent. The increase within these industries can be explained by the increase in production volume in the last three-month period (see the index of production).
Conversely, industries that had a fall in turnover included machinery and equipment and repair and installation of machinery, down 2.8 and 2.3 respectively. Computer and electrical equipment also went down, showing a 4.5 percent decrease.
Moderate decrease in turnover from December 2009 to January 2010
The total turnover in Norwegian manufacturing dropped 0.6 percent from December 2009 to January 2010, according to seasonally adjusted figures. The largest fall was within repair and installation of machinery, down 18.4 percent. Rubber, plastics and mineral products, which produce mainly for the building and construction industry, showed a reduction in production volume of 9.5 per cent (see producer price index). This reduction is mainly due to the particularly cold weather in January. As a result, the turnover for this group fell to 8.0 per cent. In addition, fabricated metal products had a drop of 5.8 per cent in turnover last month.
Decrease in turnover compared to January 2009
Unadjusted figures show a 4.2 percent fall in total turnover in January 2010 compared to January 2009. Repair and installation of machinery had the strongest drop of 21.0 percent, followed by machinery and equipment with a fall of 18.6 percent. Both industrial groupings are strongly influenced by the decreased in new orders as a consequence of the falling demand within their markets.
Among industrial groupings that buffered the fall, were refined petroleum, chemicals and pharmaceuticals and basic metals with a rise of 5.4 and 6.4 percent respectively. An increase in production volume can partially explain the result within these industries.
Norway and the Euro area
Unadjusted figures show that there was a 0.3 percent increase in Norwegian manufacturing turnover from December 2008 to December 2009. Manufacturing turnover in the Euro area dropped 3.0 percent in the same period, according to figures published by Eurostat.