Norway: Industrial production recovers in April
Latest reading: Industrial production increased 0.6% in seasonally adjusted month-on-month terms in April, following a 1.1% drop in the previous month.
Relative to the prior month’s data, readings in April improved for extraction and related services—which account for nearly 75% of industrial output in Norway (+0.9% in seasonally adjusted month-on-month terms vs -1.4% in March) and electricity, gas and steam (+2.4% vs -7.1% in March). In contrast, the reading for manufacturing softened in April (-0.9% vs +2.0% in March).
On a working-day adjusted year-on-year basis, industrial production rose 1.2% in April, following a 2.3% increase in the prior month.