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Growth in Norwegian manufacturing

Production in manufacturing increased by 1.7 per cent from the second to the third quarter of 2012, according to fresh figures from Statistics Norway.

Industries such as machinery and equipment, and ships, boats and oil platforms had a continued production growth in this period.

This can be related to a strong increase in new orders in the second quarter for these industries, and a significant growth in employment during the third quarter.

The output within machinery and equipment, and ships, boats and oil platforms was thus at a record high level in the third quarter of 2012, with a volume growth of over 80 per cent since 2005. Furthermore, production in food products also went up by 2.0 per cent from the second to the third quarter of 2012.

There was a 5.5 per cent increase in Norwegian manufacturing output from August 2011 to August 2012, according to working-day adjusted figures. Industrial production in the euro area decreased by 2.9 per cent in the same period, according to figures published by Eurostat.