Norway Industry December 2016

Norway

Norway: Industrial production contracts in December

February 6, 2017

Norwegian industrial production in December decreased 2.7% from the previous month in seasonally adjusted terms, contrasting the 0.7% rise recorded in November. The oil and gas extraction sector contracted sharply, dragging on the overall result. Industrial production in Norway is highly affected by oil and gas extraction and related services, which account for around 72.0% of the index. The electricity, gas and steam sector also slipped, while the manufacturing sector increased compared to November.

In annual terms, industrial production dropped 1.4% in December (November: +1.3% year-on-year). Annual average growth in industrial production was steady at minus 1.5% in December.

FocusEconomics Consensus Forecast panelists project that industrial production will contract 0.3% in 2017, which is down 0.1 percentage points from the previous month’s forecast. For 2018, the panel expects industrial production to expand 1.6%.


Author: Marlène Rump, Senior Data Analyst

Sample Report

Looking for forecasts related to Industry in Norway? Download a sample report now.

Download

Norway Industry Chart


Norway Industry December 2016

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Norway (SSB).


Norway Economic News

  • Norway: Inflation remains steady in January

    February 9, 2018

    Consumer prices decreased 0.1% in January from the previous month—below market expectations of no change and representing the first month-on-month decline since August last year.

    Read more

  • Norway: Economy contracts in the fourth quarter on lower oil and gas output

    February 9, 2018

    In the fourth quarter of 2017, the economy shrank a seasonally-adjusted 0.3% from the previous quarter, below both market analysts’ expectations of a 0.6% quarter-on-quarter expansion and the third quarter’s revised growth of 0.8% (previously reported: +0.7% quarter-on-quarter).

    Read more

  • Norway: Industrial production decreases in December

    February 7, 2018

    According to Statistics Norway, industrial production fell a seasonally-adjusted 0.4% from the previous month in December, a swing from November’s revised increase of 0.4% (previously reported: +0.6% month-on-month). A contraction in the extraction and related services sector—the largest industrial sector in Norway—spurred the decrease.

    Read more

  • Norway: Inflation accelerates in December

    January 10, 2018

    Consumer prices were unchanged in December last year from the previous month, marking a slowdown compared to the modest increases seen in the prior months.

    Read more

  • Norway: Industrial production expands in November

    January 8, 2018

    According to Statistics Norway, industrial production rose by a seasonally-adjusted 0.6% from the previous month in November, contrasting October’s revised 1.3% decrease (previously reported: -1.4% month-on-month). The expansion in the extraction and related services sector—the largest industrial sector in Norway—drove the increase.

    Read more

More news

Search form