Norway Industry


Industrial production rebounds strongly in October

In October, industrial output rose a seasonally adjusted 4.8% over the previous month. The print contrasted the 5.8% contraction tallied in September (previously reported: -5.6% month-on-month) and represented, in fact, the largest increase observed since June 2011. According to Statistics Norway, the improvement was mainly due to a robust increase in oil and gas extraction as well as a softer decline in manufacturing, mining and quarrying.

On the other hand, production of electricity, gas and steam deteriorated. On an annual basis, industrial production rose 2.5% in working-day adjusted terms. The monthly increase contrasted the 5.0% drop observed in September. As a result of the improvement, the trend now points upwards, with annual average growth in industrial production rising from 2.0% in September to 2.7% in October.

Sample Report

Looking for forecasts related to Industry in Norway? Download a sample report now.


Norway Industry Chart

Norway Industry October 2012

Note: Month-on-month seasonally adjusted and year-on-year changes of industrial production index in %.
Source: Statistics Norway (SN).

Norway Economic News

  • Norway: Inflation eases further in September

    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.

    Read more

  • Norway: Industrial production swings to contraction in August

    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.

    Read more

  • Norway: Norges Bank leaves rate unchanged at 0.50%

    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.

    Read more

  • Norway: Inflation eases in August

    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.

    Read more

  • Norway: Industrial production rebounds in July

    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.

    Read more

More news

Search form