Phone survey January 2010, summary of findings
- Regional Network report
A survey by phone of a sample of contact enterprises in building and construction and exposed manufacturing was conducted in all the regions in Norges Bank’s regional network in the period 20 - 25 January 2010. The survey focused on output, order intake, investment and employment and encompassed about 60 enterprises. The information provided confirmed the general picture of these industries from the November 2009 regional network report.
The level of activity in the enterprises interviewed is still very low, particularly in some exposed manufacturing sectors. Contacts in the sample reported that employment has fallen further. They expect the decline to continue, although at a somewhat more moderate pace than over the past three months. A clear majority of the contacts reported that order stocks are lower than at the same time last year. In addition, order stocks now comprise a larger share of smallscale projects than previously, which inhibits a longterm focus and reduces predictability and margins.
The majority of contacts in exposed manufacturing sectors plan to reduce investment activity in 2010 compared with 2009. Manufacturing contacts also reported that international competition for new orders is intense and that principals have a strong focus on price.