Leaders of companies in the industry are expecting a decline in new orders and even lower employment.
This is according to the trend survey for manufacturing and mining from the central agency of Statistics. This is the sixth consecutive quarter that the general assessment of the outlook for this industry is negative overall.
Industrial leaders report that capital investments have been revised downwards, while the supply of new orders and the stock of goods are expected to fall.
Producers of investment goods, which include machine industry, shipbuilding and oil platforms are mostly negative in their expectations for the second quarter.
Industrial leaders also report that there has been a production decline in the first quarter of this year. The low activity among suppliers in the oil and gas sector in particular have contributed to the decline. In this sector, there has been a significant fall in employment.
Source: NTB scanpix / Norway Today