Norway Industry

Norway

Norway: Industrial production expands for fourth consecutive month

August 7, 2013

In June, industrial output rose a seasonally adjusted 0.5% over the previous month, which followed the 1.0% increase tallied in May (previously reported: +1.2% year-on-year). The print represents the fourth consecutive month of increase in industrial output. According to Statistics Norway, June's slower growth was mainly driven by a contraction in oil and gas extraction, as well as by a softer rise in electricity, gas and steam. Manufacturing output, however, rebounded compared to the previous month and reached its highest level in nearly two years.

On an annual basis, industrial production declined 5.5% in working-day adjusted terms, which represents a deterioration over the 4.8% drop observed in May. As a result, the trend continues to deteriorate, with annual average growth in industrial production falling from minus 2.6% in May to minus 3.7% in June, the lowest rate in 18 months

FocusEconomics Consensus Forecast panellists expect industrial production to fall 5.1% in 2013. In 2014, the panel sees industrial production contracting 0.7%.


Author:,

Sample Report

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

Download

Norway Industry Chart


Norway Industry June 2013

Note: Month-on-month seasonally adjusted and year-on-year changes of industrial production index in %.
Source: Statistics Norway (SN).


Norway Economic News

  • Norway: Industrial production growth rebounds in October

    December 7, 2018

    According to Statistics Norway, industrial production rose a seasonally-adjusted 2.3% in October compared to the previous month, contrasting the revised 2.0% fall in September (previously reported: -1.5% month-on-month). The rebound in October was due to a broad-based improvement across industrial sectors.

    Read more

  • Norway: The economy wobbles in September

    November 13, 2018

    According to monthly GDP data released by Statistics Norway, the total economy contracted a seasonally-adjusted 0.5% in September over the previous month, down from the revised 0.2% fall in August (previously reported: -0.1% month-on-month).

    Read more

  • Norway: Inflation moderates in October

    November 9, 2018

    Consumer prices fell 0.2% month-on-month in October, contrasting the 0.6% gain in September.

    Read more

  • Norway: Industrial production growth slows in September

    November 7, 2018

    According to Statistics Norway, industrial production fell a seasonally-adjusted 1.5% in September compared to the previous month, contrasting the revised 1.6% growth registered in August (previously reported: +1.8% month-on-month). The fall in September was due to a near-broad-based decline across industrial sectors: The extraction and related services sector—the largest industrial sector in Norway—observed a 3.5% fall in output.

    Read more

  • Norway: Norges Bank keeps rate unchanged in October

    October 24, 2018

    In line with market analysts’ expectations, Norges Bank announced on 24 October that it was keeping the sight deposit rate unchanged at 0.75%.

    Read more

More news

Search form