Norway Industry November 2016


Norway: Industrial production contraction eases in November

January 8, 2016

In November, industrial output fell 0.8% over the previous month in seasonally-adjusted terms, which was a more mild contraction than the 3.0% decrease tallied in October (previously reported: -2.6% month-on-month). November’s decrease reflected sharp declines in extraction-related services, which offset an increase in the manufacturing component.

On an annual basis, industrial production decreased 1.8% in working-day adjusted terms, which followed the 3.0% contraction tallied in October. Annual average growth in industrial production slowed in November, sliding from October’s 1.7% increase to a 1.2% rise.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 0.1% in 2016, which is unchanged over the previous month’s estimate. In 2017, the panel sees industrial production climbing 0.6%.

Author:, Economist

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Norway Industry Chart

Norway Industry November 2015 2

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Norway (SN).

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