Seasonally adjusted figures show that the total turnover in Norwegian manufacturing increased by 3.7 per cent from August to October 2021 compared with the previous three month period.
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However, on a monthly basis from September to October, the manufacturing turnover decreased by 4.5 per cent.
The index value for turnover in manufacturing was 178,1 (2005=100) in the period August to October 2021 compared to 171,8 in the previous three month period, according to seasonally adjusted figures. The increase in manufacturing turnover the last three month period is fueled by higher prices and high demand from both the home and export market.
Total Norwegian manufacturing turnover increased by 3.7 per cent from August to October 2021 compared with the previous three month period.
The increase in turnover in the three month period is mainly due to a broad rise in prices for industrial products, while production volume was stable during the period. A wide rise in prices and a high turnover in both the export and home market was an important factor to this growth.
Food and beverages industry together with refined petroleum, chemicals and pharmaceutical products contributed the most to the increase in manufacturing turnover with an increase of 5.6 and 10 per cent respectively. Metal products also contributed to the positive development in the manufacturing turnover.
Seasonally adjusted figures show that the turnover in Norwegian manufacturing decreased by 4.5 per cent from September to October 2021 according to seasonally adjusted figures.
The industry grouping building of ships and platforms and the industry grouping refined petroleum and fabricated metal products contributed the most to the negative development in manufacturing turnover with its decrease of 35 and 20 per cent respectively. Food and beverages products also contributed to this development.
Manufacturing turnover in the euro area increased by 0.9 percent from August to September 2021, according to seasonally adjusted figures. Total Norwegian manufacturing turnover increased by 5.5 percent in the same period. In the other Scandinavian countries, the turnover in Denmark and Sweden increased by 7.2 and 2.8 per cent respectively, according to Eurostat. ■