Seasonally-adjusted figures show that the total turnover in Norwegian manufacturing increased by 8.4 per cent in the first quarter of 2022 compared to the fourth quarter of 2021.
Article continues below
On a monthly basis, from February to March 2022, the manufacturing turnover increased by 0.4 per cent.
The index value for turnover in manufacturing was 195.2 (2005=100) in the first quarter of 2022 compared to 180.0 in the previous quarter, according to seasonally-adjusted figures. The increase in turnover in the last quarter is fueled by higher prices.
Total Norwegian manufacturing turnover increased by 8.4 per cent in the first quarter of 2022 compared to the fourth quarter of 2021.
Refined petroleum, chemicals and pharmaceutical products contributed the most to the increase in manufacturing turnover with an increase of 12.8 per cent. Basic metals also contributed to the increase in manufacturing turnover with an increase of 14 per cent.
Price growth is a an important reason to the growth in turnover in these industries in this three-month period.
Seasonally-adjusted figures show that the turnover in Norwegian manufacturing increased by 0.4 per cent from February to March 2022 according to seasonally-adjusted figures.
Non-ferrous metals and the industry grouping refined petroleum, chemicals and pharmaceutical products contributed the most to the increase in manufacturing turnover. Price growth on metals and refined petroleum products was an important contributor to the growth in turnover in these industries.
Machinery and equipment and computer and electrical equipment contributed the most to curbing the increase in manufacturing turnover.
Manufacturing turnover in the euro area increased by 2.6 percent from January to February 2022, according to seasonally-adjusted figures. Total Norwegian manufacturing turnover increased by 3.4 percent in the same period.
In the other Scandinavian countries, the turnover in Denmark and Sweden increased by 2.1 and 1.3 per cent respectively, according to Eurostat. ■