In July, industrial output dropped a seasonally adjusted 4.5% over the previous month, which contrasted the 0.8% rise tallied in June and marked, in fact, the steepest decline since August 2010. According to Statistics Norway, the deterioration seen in July was broad-based, as all the main subcategories retreated over the previous month. In particular, sharp losses were seen in the production of electricity, gas and steam as well as in extraction and related services. On an annual basis, industrial production increased 2.6% in working-day adjusted terms, which came in below the healthy 7.7% rise observed in June. Building on the robust annual readings tallied in recent months, the trend continues pointing upwards, with annual average growth in industrial production rising from 2.6% in June to 3.2%.
Industrial production falls sharply in July
September 10, 2012
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Norway Economic News
October 10, 2016
In September, consumer prices climbed 0.3% from the previous month, which contrasted August’s reading (-0.5% month-on-month) but undershot market expectations of a 0.7% increase.
October 7, 2016
In August, industrial production decreased 4.7% over the previous month in seasonally-adjusted terms, which contrasted the 4.7% expansion recorded in July and marked the lowest reading since April 2015.
September 22, 2016
At its 21 September policy meeting, Norges Bank (NB) decided to leave its key policy rate at the all-time low of 0.50%, as was expected by market participants. Norges Bank noted that global growth was moderate and that in the medium term import demand from its main trading partners will be lower than previously expected.
September 9, 2016
In August, consumer prices dropped 0.5% over the previous month, which contrasted July’s reading (+0.6% month-on-month) and undershot market expectations of a 0.4% drop.
September 7, 2016
In July, industrial production expanded 5.5% over the previous month in seasonally-adjusted terms, which marked a rebound from the 4.7% fall recorded in June and represented the highest reading since October 2012.