Norwegian PMI falls – HegnarOnline

Norwegian PMI falls – HegnarOnline

Norwegian PMI corresponded well with the gloomy picture of Norwegian employment currently. While Hordaland County Council fears NAV queue for oil fall, reports Norwegian purchasing managers about a sharp drop from 52.2 in November to 45.5 in December 2014.

Not since June 2012, the figures for employment in Norwegian industry has been lower.

This comes as no surprise to NIMA and Danske Bank. Together prepares the monthly purchasing manager index, Norwegian PMI, as on a par with other indexes have become an important thermometer in Norwegian industry.

All PMI numbers worldwide are available here.

Every 5 workplace bust?
– Norwegian purchasing managers confirms what we have seen through autumn. All indices pointing in the negative direction, but it is mainly employment index that represents the sharpest decline.

– This tendency is not unexpected and explained enough mainly to the decline in oil and gas sector, says Svein-Egil Hoberg in NIMA.

SSB economic barometer and manpower survey supports the Norwegian PMI data. In addition, Hordaland County according NIMA released a new report that every fifth job in Hordaland may disappear as a result of cuts in the oil industry.

Continued production growth
The decline in actual main index, however, was more modest, with his fall from 51.4 to 49.8 in December. The production index experienced a moderate decline from 51.5 to 51.4.

– This shows continued growth in production, albeit somewhat lower than in the previous month. There is no doubt that the growth in industrial production has slowed, but it is still stronger than the end of 2012 and into 2013, says Hoberg.

– No basis to say crisis
Line index for both domestic and export over several months have shown a lack of growth, with the exception of export index in November.

– Order index fell last month from 50.4 to 49.8. This gives an indication of the challenges that exist in the production sector. However, it is important to point out that the figures generally are stable, so there is no basis for describing the situation as crisis, says Hoberg.