Norway skyline at night

Norway Industrial production September 2023

Norway: Industrial output contracts at sharpest pace since March 2002 in September

Industrial output dived 8.6% in month-on-month seasonally adjusted terms in September, which was a larger contraction than August’s 1.0% decrease. September’s result marked the worst reading since March 2002. Looking at the details of the release, September’s downturn was largely driven by a fall in extraction and related services—which account for around 75% of industrial output in Norway. In addition, production contracted in both the manufacturing, and electricity, gas and steam sub-sectors.

On an annual basis, industrial production dove 20.1% in calendar-adjusted terms in September, which was notably below August’s 8.7% fall and marked the worst result on record. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.6% in September, down from August’s minus 3.8%.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest