Norway: Industrial production accelerates in August
Latest reading: Industrial production increased 1.3% on a seasonally adjusted month-on-month basis in August, following a 0.4% rise in the prior month.
Relative to the prior month’s data, readings in August improved for extraction and related services—which account for over 80% of industrial output in Norway (+1.9% mom s.a. vs 0.0% in July) and manufacturing (+0.7% vs +0.4% in July). In contrast, the reading for electricity, gas and steam softened in August (-2.9% vs +5.1% in July).
In calendar-adjusted year-on-year terms, industrial production was up 1.7% in August, following a 3.4% fall in the prior month.