Norway Industry March 2017

Norway

Norway: Industrial production inches down in March

May 8, 2017

In March, industrial output decreased 0.1% from the previous month in seasonally adjusted terms, a softer decline than the 0.6% drop seen in February. The oil and gas extraction sector rebounded and lifted the overall result, while the other subcomponents contracted in March. Industrial production in Norway is highly affected by oil and gas extraction and related services, which account for around 72% of the index.

In annual terms, industrial production grew 1.0% in March (February: 1.2% year-on-year), while annual average growth in industrial production inched up to minus 1.1% (February: -1.3%).

FocusEconomics Consensus Forecast panelists project that industrial production will grow 1.3% in 2017, which is up 0.1 percentage points from the previous month’s forecast. For 2018, the panel expects industrial production to expand 1.5%.


Author: Marlène Rump, Senior Data Analyst

Sample Report

Looking for forecasts related to Industry in Norway? Download a sample report now.

Download

Norway Industry Chart


Norway Industry March 2017

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


Norway Economic News

  • Norway: Inflation accelerates in November

    December 10, 2018

    Consumer prices rose 0.5% in November compared to the previous month, contrasting the 0.2% fall in October.

    Read more

  • 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.

    Read more

  • Norway: The economy wobbles in September

    November 13, 2018

    According to monthly GDP data released by Statistics Norway, the total economy contracted a seasonally-adjusted 0.5% in September over the previous month, down from the revised 0.2% fall in August (previously reported: -0.1% month-on-month).

    Read more

  • Norway: Inflation moderates in October

    November 9, 2018

    Consumer prices fell 0.2% month-on-month in October, contrasting the 0.6% gain in September.

    Read more

  • Norway: Industrial production growth slows in September

    November 7, 2018

    According to Statistics Norway, industrial production fell a seasonally-adjusted 1.5% in September compared to the previous month, contrasting the revised 1.6% growth registered in August (previously reported: +1.8% month-on-month). The fall in September was due to a near-broad-based decline across industrial sectors: The extraction and related services sector—the largest industrial sector in Norway—observed a 3.5% fall in output.

    Read more

More news

Search form