Norway Industry

Norway

Norway: Industrial production falls in April

June 5, 2015

In April, industrial output fell 4.9% over the previous month in seasonally-adjusted terms, which contrasted the 1.4% increase tallied in March. April’s contraction was mainly due to the largest deterioration in manufacturing output in three months. Oil and gas extraction also contracted, hitting an 11-month low.

On an annual basis, industrial production in April fell 3.4% in working-day adjusted terms. The reading contrasted the 0.1% increase tallied in the previous month. Annual average growth in industrial production continued to moderate, declining from Mach’s 2.6% increase to 2.1% in April.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.3% in 2015, which is down 0.2 percentage points over the previous month’s estimate. In 2016, the panel sees industrial production climbing 1.0%.


Author:, Economist

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Norway Industry April 2015 1

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


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