Norway Industry March 2016


Norway: Industrial production falls in March

May 10, 2016

In March, industrial production contracted 1.3% over the previous month in seasonally-adjusted terms, which contrasted the 0.4% increase recorded in February and marked the lowest reading since October. March’s reading was dragged down by a contraction in extraction and extraction related services.

In annual terms, industrial production contracted 4.0%, marking a deterioration compared to the 1.8% drop recorded in February. Moreover, annual average growth in industrial production swung from plus 0.4% in February to minus 0.1% in March.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.0% in 2016, which is down 0.3 percentage points over the previous month’s forecast. For 2017, the panel expects that industrial production will increase 2.4%.

Author:, Economist

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Norway Industry Chart

Norway Industry March 2016

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).

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