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Norway Industrial production June 2021

Norway: Industrial output rebounds in June

Industrial production expanded 0.9% month-on-month in seasonally-adjusted terms in June (May: -0.2% s.a. mom). June’s bounce-back was chiefly driven by a rebound in extraction and related services production—which accounts for around 65% of industrial output in Norway. In addition, manufacturing, mining and quarrying production picked up pace.

On an annual basis, factory output grew 4.3% in seasonally- and calendar-adjusted terms in June, which was notably better than May’s 2.1% expansion and marking the best result since January. Meanwhile, the trend pointed up, with annual average industrial production growth clocking in at 3.3% in June (May: +3.2%).

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