Norway: Industrial production falls in February for fourth consecutive month
April 5, 2019
Industrial production fell a seasonally-adjusted 1.8% in February compared to the previous month, slightly less than the 2.2% fall in January, according to Statistics Norway. The latest decrease was primarily due to lower output in the extraction and related services sector, which is the largest industrial sector in Norway. In addition, the electricity, gas and steam, and manufacturing sectors both recorded lower production levels.
In annual terms when adjusted for working days, industrial production fell 5.7% in February, representing a larger fall than January’s 3.4% decline. Annual average growth in industrial production slowed to 0.1%, down from 0.7% in January.
Author: Edward Gardner, Economist