Norway skyline at night

Norway Industry October 2019

Norway: Industrial production hits a sixteen-month high in October

Industrial production surged a seasonally-adjusted 3.6% in October from the previous month—the fastest rise since June 2018—contrasting September’s 0.2% dip.

October’s jump was driven by a strong output increase in the extraction and related services sector, which accounts for around 65% of industrial production in Norway, likely as state-owned Equinor’s Johan Sverdrup offshore oil and gas facility came online. Meanwhile, the manufacturing, mining and quarrying sector was flat month-on-month in October.

In annual working-day adjusted terms, industrial output dropped 5.7% in October, improving on the 8.1% plunge in September. Meanwhile, the annual average change in industrial production was minus 4.6% in October, down from September’s minus 3.8%.

Going forward, industrial production will likely continue to strengthen as Equinor’s Johan Sverdrup powers the extraction and related services sector. The mega-project is projected to provide a major boost to Norway’s energy sector in 2020, and will remain a key driver of industrial production over the next couple of years.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest