Norway: Industrial output growth deteriorates in November
Industrial output rose 2.4% in month-on-month seasonally adjusted terms in November, which was a deterioration from October’s 8.1% increase. Looking at the details of the release, the moderation was largely due to weaker extraction and related services—which account for around 75% of industrial output in Norway—output growth. In addition, electricity, gas and steam output contracted.
On an annual basis, industrial output dove 6.2% in calendar-adjusted terms in November, moderating notably from October’s 9.1% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.6% in November, down from October’s minus 6.7% reading.