Still declining turnover in industrial production

Oseberg oil platformAn aerial view of the Oseberg oil platform in the Norwegian sea.Photo Helge Hansen/NTB Scanpix

Industrial turnover fell by 3.8 percent in the period May-July 2020 compared with three months before, seasonally adjusted figures from Statistics Norway show.

From June to July, there was a decline of 1 percent for industry as a whole.

The industries oil refinery, chemical, and pharmaceutical are the ones that pulled the turnover down the most, with a decrease of 11 percent, Statistics Norway (SSB) states.

The construction of ships and oil platforms also contributed negatively to lower sales during the period. The decline in this industry was 14 per cent compared with the previous three-month period.

At the same time, the food industry contributed to an increase in industrial production of 1.8 percent from June to July this year, according to seasonally adjusted figures. From May to July, however, total production decreased by 4.2 percent compared with the previous three months.

The decline is seen with respect to the corona pandemic that has influenced industrial activity in the industry since mid-March, Statistics Norway writes.  

© NTB Scanpix / #Norway Today


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