Norway - Industrial Production

Norway: Industrial Production

Mnemonic	IP.INOR
Unit	Index 2005=100, SA
Adjustments	Seasonally Adjusted
	Monthly	8.33 %
Data	Jan 2023	83.6
	Dec 2022	91.2

Series Information

Source	Statistics Norway
Release	Index of production [Detailed IPI]
Frequency	Monthly
Start Date	1/31/1990
End Date	1/31/2023

Norway: Business

	Reference	Last	Previous	Units	Frequency
Industrial Production	Jan 2023	83.6	91.2	Index 2005=100, SA	Monthly
Business Confidence	2022 Q4	-3.9	-4.8	Balance of opinion, SA	Quarterly
Capacity Utilization	2022 Q4	80	80.6	% WA, SA	Quarterly
Change in Inventories	2022 Q4	-46,572	31,288	Mil. NOK, CDASA	Quarterly
Real Change in Inventories	2019 Q1	31,468	32,631	Mil. Ch. 2016 NOK, CDASA	Quarterly

Release Information

Description

For Norway, the industrial production index (IPI) is a monthly short-term indicator for volume changes in oil and gas extraction, mining and quarrying, manufacturing and power supply. It measures the volume development in value added rather than output, by using input and output data as basic information.

Methodology

The sample includes around 2,100 establishments, including all establishments with 100 employees or more, or with a turnover of at least 10 per cent of the publishing level. The remaining units are drawn based on stratification and optimal allocation, proportional to the size of the unit measured by the number of employees. Establishments with less than ten employees are not included in the sample.

Data is collected via a survey that is based on data collected by questionnaires which are returned electronically via IDUN.

The survey is classified according to the Standard Industrial Classification 2007 (SIC2007), which is a Norwegian adaptation of NACE Rev. 2. SIC2007, and forms the basis for classifying units according to principal activity in the CRE. This standard allows for comparison and analysis of statistical data at national/international level and over time.

The survey is also classified according to EUROSTAT's end-use categories (Main Industrial Groupings, MIG), which are based on the 3-digit level industrial groupings in SIC 2007

Revisions

Disseminated unadjusted data are not revised. Seasonally adjusted data is subject to revision.

Until 2009 the survey was classified by Norway's SIC-2002, an adaptation of NACE Rev. 1.1, and by Eurostat's MIG end-use categories. It was indexed to 1995= 100.

Starting with January 2009 data, the survey was upgraded to SIC-2007 (NACE Rev.2) and re-indexed to 2005=100. The seasonal adjustment method was also improved. The change in classification caused the discontinuance of two indicators and addition of four others.