Norway Industry May 2016


Norway: Industrial production growth slows in May

July 7, 2016

In May, industrial production expanded 0.12% over the previous month in seasonally-adjusted terms, coming down from the 0.83% increase recorded in April. May’s reading was boosted by an increase in extraction and extraction-related services, while manufacturing saw a more moderate increase.

In annual terms, industrial production contracted 0.6%, which contrasted the 3.2% growth recorded in April. Meanwhile, annual average growth in industrial production slowed from 0.4% in April to 0.1% in May.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 0.7% in 2016, which is unchanged over the previous month’s forecast. For 2017, the panel expects that industrial production will increase 2.2%.

Author:, Economist

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Norway Industry Chart

Norway Industry May 2016 0

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

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