Norges Bank’s regional network
Round 2013 2 - National charts
Interviews carried out 22 April through 15 May, 2013
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -3
-2 -1 0 1 2 3 4 5
-6 -4 -2 0 2 4 6 8 10
Past 3 months Next 6 months
1.1 Output growth. Aggregated
Past 3 months and 6 months ahead. Annualised Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -3
-2 -1 0 1 2 3 4 5
-6 -4 -2 0 2 4 6 8 10
Domestically oriented manufacturing
Export industry² Suppliers to the petroleum industry³ Construction
1.2 Output growth. Manufacturing and construction
Past 3 months and 6 months ahead. Annualised Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh and useful information’ in Economic Bulletin 2/09 for further information.
²) Includes deliveries to the petroleum sector outside the Norwegian continental shelf
³) Deliveries to the petroleum sector on the Norwegian continental shelf Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -3
-2 -1 0 1 2 3 4 5
-6 -4 -2 0 2 4 6 8 10
Retail trade
Corporate services Household services
1.3 Output growth. Retail trade and services
Past 3 months and 6 months ahead. Annualised Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2005 2006 2007 2008 2009 2010 2011 2012 2013 0
20 40 60 80 100
0 20 40 60 80 100
Capacity constraints¹ Labour supply²
1.4 Capacity constraints and labour supply. Aggregated
Per cent
¹) Share of contacts that will have some or considerable problems accommodating an increase in demand.
²) Share of contacts where production is constrained by labour supply.
Source: Norges Bank’s regional network
2005 2006 2007 2008 2009 2010 2011 2012 2013 0
20 40 60 80 100
0 20 40 60 80 100
Manufacturing
Construction Retail trade
Services
1.5 Capacity constraints¹. All sectors
Per cent
¹) Share of contacts that will have some or considerable problems
accommodating an increase in demand. Source: Norges Bank’s regional network
2005 2006 2007 2008 2009 2010 2011 2012 2013 0
20 40 60 80 100
0 20 40 60 80 100
Manufacturing Construction
Local government and hospital sector
Retail trade Services
1.6 Labour supply¹. All sectors
Per cent
¹) Share of contacts where production is constrained by labour supply.
Source: Norges Bank’s regional network
1.7 Capacity constraints. All regions. Aggregated
Share of contacts that will have some or considerable problems accommodating an increase in demand
NORTH
January 2013
SOUTH SOUTH
WEST NORTH
WEST MID- NORWAY
IN- LAND
EAST
1.7a Capacity constraints. All regions. Aggregated. Previous round
Source: Norges Bank’s regional network
NORTH
May 2013
< 15%
15-24%
25-34%
35-44%
45-54%
55-64%
65%
>
SOUTH SOUTH
WEST NORTH
WEST MID- NORWAY
IN- LAND
EAST
1.7b Capacity constraints. All regions. Aggregated. Last round
Source: Norges Bank’s regional network
1.8 Labour supply. All regions. Aggregated
Share of contacts where production is constrained by labour supply
NORTH
January 2013
SOUTH SOUTH
WEST NORTH
WEST MID- NORWAY
IN- LAND
EAST
1.8a Labour supply. All regions. Aggregated. Previous round
Source: Norges Bank’s regional network
NORTH
May 2013
< 5%
5-14%
15-24%
25-34%
35-44%
45-54%
55%
>
SOUTH SOUTH
WEST NORTH
WEST MID- NORWAY
IN- LAND
EAST
1.8b Labour supply. All regions. Aggregated. Last round
Source: Norges Bank’s regional network
2005 2006 2007 2008 2009 2010 2011 2012 2013 -4
-3 -2 -1 0 1 2 3 4
-40 -30 -20 -10
0 10 20 30 40
1.9 Investment growth. Aggregated
Expected change in investments 12 months ahead Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -4
-3 -2 -1 0 1 2 3 4
-40 -30 -20 -10
0 10 20 30 40
Manufacturing
Retail trade Services
Local government and hospital sector
1.10 Investment growth. All sectors
Expected change in investments 12 months ahead Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -4
-3 -2 -1 0 1 2 3 4
-4 -3 -2 -1 0 1 2 3 4
Past 3 months Next 3 months
1.11 Employment growth. Aggregated
Past 3 months and 3 months ahead¹ Per cent
¹) Mixed indicator until 2004. Split in to ’last 3 months’ and
’3 months ahead’ as from 2005. Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -4
-3 -2 -1 0 1 2 3 4
-4 -3 -2 -1 0 1 2 3 4
Manufacturing Construction
Local government and hospital sector
Retail trade Services
1.12 Employment growth. All sectors
Past 3 months and 3 months ahead¹ Per cent
¹) Mixed indicator until 2004. Split in to ’last 3 months’ and
’3 months ahead’ as from 2005. Source: Norges Bank’s regional network
2002 2004 2006 2008 2010 2012 -5
-4 -3 -2 -1 0 1 2 3 4 5
2 3 4 5 6 7
Manufacturing Construction
Local government and hospital sector
Retail trade Services Aggregated
1.13 Annual wage growth. Aggregated and all sectors
Contacts’ estimates for each year¹
Index² - lefthand axis, per cent - righthand axis
¹) Starting in 2010, the first observation for wage growth has been collected in November the previous year.
²) The index ranges from -5 to +5.
See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 0
1 2 3 4 5 6 7
0 1 2 3 4 5 6 7
RN (autumn previous year) RN winter
RN spring
RN summer RN autumn TBU¹
1.14 Annual wage growth. Aggregated
Technical reporting committee on income settlements (TBU) compared to contacts’ estimates (RN). Per cent
¹) For 2010: Wage growth for employees at enterprises affiliated to an employer organisation and in the public administration
including the health trusts. Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -3
-2 -1 0 1 2 3 4 5
-6 -4 -2 0 2 4 6 8 10
1.15 Selling prices. Aggregated
Change past 12 months
Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -3
-2 -1 0 1 2 3 4 5
-6 -4 -2 0 2 4 6 8 10
Domestically oriented manufacturing
Export industry Construction
1.16 Selling prices. Manufacturing and construction
Change past 12 months
Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 -3
-2 -1 0 1 2 3 4 5
-6 -4 -2 0 2 4 6 8 10
Retail trade
Corporate services Household services
1.17 Selling prices. Retail trade and services
Change past 12 months
Index¹, left-hand axis; per cent, right-hand axis
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
2005 2006 2007 2008 2009 2010 2011 2012 2013 20
30 40 50 60 70 80
20 30 40 50 60 70 80
1.18 Selling prices 12 months ahead. Aggregated
Expected change in price growth.
Diffusion index¹
¹) Share that expects higher price growth + (1/2 * share that expects unchanged price growth). Source: Norges Bank’s regional network
2005 2006 2007 2008 2009 2010 2011 2012 2013 20
30 40 50 60 70 80
20 30 40 50 60 70 80
Business sector² Household sector³
1.19 Selling prices 12 months ahead. Business and household sector
Expected change in price growth.
Diffusion index¹
¹) Share that expects higher price growth + (1/2 * share that expects unchanged price growth).
²) Manufacturing, construction, corporate services.
³) Retail trade, household services. Source: Norges Bank’s regional network
2007 2008 2009 2010 2011 2012 2013 -4
-3 -2 -1 0 1 2 3 4
-4 -3 -2 -1 0 1 2 3 4
1.20 Profitability. Aggregated
Change in operating margins past 3 months compared to same period a year earlier.
Index¹
¹) The index ranges from -5 to +5, where -5 indicates a sharp fall and +5 indicates strong growth. See article ’Norges Bank’s regional network: fresh
and useful information’ in Economic Bulletin 2/09 for further information. Source: Norges Bank’s regional network
