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.
Author: Robert Hill, Economist