Norway’s manufacturing output falls in November

Norway’s manufacturing output dropped in November. It fell 0.1 percent in sequential terms and 0.6 percent from September to November, according to seasonally-adjusted figures, stated Statistics Norway. Food products and food added most to the decline in the three-month period. Within the industry, grouping refined petroleum, chemicals and pharmaceutical products also fell 2.2 percent and 2.3 percent respectively.

The fall in food and food products is partly attributable to a decline in processing and preserving of fish because of forced production in previous months and also due to reduced fishing quotas. In the industry grouping refined petroleum, pharmaceutical products and chemicals, the fall is related to planned maintenance shutdown among some leading suppliers.

On a month-on-month basis, manufacturing output remained virtually unchanged. Machinery and equipment, along with ships, boats and oil platforms saw a clear fall, while food and food products and basic chemicals saw a rise. Meanwhile, on a year-on-year basis, Norwegian manufacturing output dropped 3.4 percent. Machinery and equipment, along with repair and installation of machinery added most to this fall.

According to seasonally-adjusted figures, the total production index (PII) covering extraction, mining, manufacturing and electricity supply fell by 0.4 per cent from September to November 2016 compared to the previous three-month period, stated Statistics Norway.