Norway Industry December 2018


Norway: Industrial production falls in December for second consecutive month

February 7, 2019

According to Statistics Norway, industrial production fell a seasonally-adjusted 1.0% in December compared to the previous month, less than the 1.5% contraction in November. The decrease in December was due to another output fall in the extraction and related services sector, the largest industrial sector in Norway. Moreover, the electricity, gas and steam sector recorded lower production in December, although manufacturing output returned to growth, contrasting a contraction in November.

In annual terms when adjusted for working days, industrial production expanded 1.2% in December, down from 2.6% in November. Annual average growth in industrial production, however, accelerated to 1.2% in December from 1.1% in November.

Norway Industrial Production Forecast

FocusEconomics Consensus Forecast panelists project that industrial production will grow 1.7% in 2019, which is down 0.2 percentage points from last month’s projection, and 2.4% in 2020.

Author:, Economist

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Norway Industry Chart

Norway Industry December 2018

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

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