Norway: Industrial production falls in February
April 11, 2012
In February, industrial output contracted a seasonally adjusted 0.6% over the previous month, which contrasted the 4.4% rise tallied in January (previously reported: +4.5% month-on-month). According to Statistics Norway, foodstuffs and production of basic chemical were the main drivers behind the monthly deterioration. On an annual basis, industrial activity grew 3.1% in working-day adjusted terms, which was slightly up from the 3.0% rise observed in January. Owing to the February rise, annual average variation in industrial production improved from minus 3.6% in January to minus 2.8% in February.