Norway: Industrial production decelerates in June
August 7, 2015
In June, industrial output grew 3.5% over the previous month in seasonally-adjusted terms, which was an improvement over the 2.1% increase tallied in May (previously reported: +0.7% month-on-month) and marked the highest figure in a year. June’s expansion came amid the strongest expansion in nine months for both the oil and gas extraction, and electricity, gas and steam components. Manufacturing rebounded and recorded its first expansion in two months.
On an annual basis, industrial production in June grew 2.8% in working-day adjusted terms. The reading marked a decrease from the 4.1% expansion tallied in the previous month. Annual average growth in industrial production inched down in June, slipping from May’s 2.8% increase to 2.7%.
Author: Robert Hill, Economist