In the second quarter, Norway’s manufacturing output dropped 1.1 percent seasonally adjusted basis quarter-on-quarter, according to Statistics Norway. Industries that are closely linked to the petroleum industry in particular added to the drop in manufacturing output. On a month-on-month basis, manufacturing output fell 2.9 percent in June.
Statistics Norway stated that machinery and equipment mainly drove the decline in manufacturing output by declining 5.5 percent. Industries closely linked to the oil and gas industry continue to be impacted by the subdued investment activity in the oil and gas sector.
On the other hand, chemical, refined petroleum and pharmaceutical products registered a rise of 4 percent in the second quarter of 2016. Moreover, construction of ships and oil platforms rose 2.8 percent in the same quarter, while wood and wood products grew 4.4 percent. This hurt the overall drop in the second quarter.
According to seasonally adjusted figures, manufacturing output dropped 2.9 percent in June from May this year. All manufacturing industries saw a drop with the exception of wood and wood products. Machinery and equipment mainly contributed to the drop that declined by 5.2 percent, said Statistics Norway.
