Norway Industry October 2018


Norway: Industrial production growth rebounds in October

December 7, 2018

According to Statistics Norway, industrial production rose a seasonally-adjusted 2.3% in October compared to the previous month, contrasting the revised 2.0% fall in September (previously reported: -1.5% month-on-month).

The rebound in October was due to a broad-based improvement across industrial sectors. Notably, the mining and quarrying sector led the way with a surge in output compared to the previous month. Moreover, the extraction and related services sector—the largest industrial sector in Norway—observed higher output, as did the manufacturing, and electricity, gas and steam sectors.

In annual terms when adjusted for working days, industrial production increased 4.5% in October, up from 0.7% in September. Annual average growth in industrial production accelerated to 0.8% in October from 0.2% in September.

Norway Industrial Production Forecast

FocusEconomics Consensus Forecast panelists project that industrial production will grow 2.8% in 2019, which is up 0.6 percentage points from last month’s projection, and 2.5% in 2020.

Author:, Economist

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Norway Industry Chart

Norway Industry October 2018

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

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