Norway: Industrial output growth eases in April
Industrial production increased 0.8% month on month in seasonally adjusted terms in April (March: +2.3% mom). April’s moderation was partly due to a deteriorating output growth in the extraction and related services sectors—which account for around 65% of industrial output in Norway. In addition, manufacturing, mining and quarrying production fell.
On an annual basis, factory output decreased 4.7% in April, improving somewhat from March’s 5.4% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.1%, contrasting March’s plus 0.5%.