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.
Author: Robert Hill, Economist