Norwegian manufacturing output rises sequentially in December, falls in Q4 on low production in food products

Norway’s manufacturing output dropped 0.2 percent in the December quarter as compared to the prior quarter, according to Statistics Norway. Low production in food products was mainly responsible for the overall fall. On a month-on-month basis, manufacturing output rose 1.1 percent in December.

The seasonally adjusted figures showed that manufacturing output was nearly unchanged from the third quarter to the fourth quarter of last year, with a small decline of 0.2 percent. The industry food products mainly led to the overall decline, with a fall of 3.4 percent. The decline in output is partially because of a fall in processing and preserving of fish. The industry grouping refined petroleum, pharmaceutical products and chemicals also witnessed a fall in the December quarter.

Meanwhile, the overall fall in the manufacturing output was weakened by a solid rise in computer and electrical equipment and by growth in boats, ships and oil platforms. Within the former, growth can be related to solid activity amongst producers of electrical equipment. Within boats, ships and oil platforms, the growth is related to increased activity amongst producers of oil platforms and modules.

Seasonally adjusted month-on-month rise of 1.1 percent in manufacturing activity was mainly driven by solid activity in computer and electrical equipment along with rise in ships, boats and oil platforms. Conversely, there was a drop in food products in the same period.

Norway’s manufacturing output on a year-on-year basis dropped 4.2 percent in November 2016. Machinery and equipment, along with repair and installation of machinery added mostly to this decline.