Norway: Industrial production rebounds in August
October 5, 2012
In August, industrial output expanded a seasonally adjusted 0.3% over the previous month, which contrasted the 3.5% drop tallied in July (previously reported: -4.5% month-on-month). According to Statistics Norway, the improvement seen in August was broad-based, as all the main subcategories gained ground over the previous month. In particular, strong increases were seen in the production of electricity, gas and steam. On an annual basis, industrial production increased 1.9% in working-day adjusted terms, which came in below the 2.6% rise observed in July. As a result of the lower monthly print, the trend points downwards, with annual average growth in industrial production falling from 3.1% in July to 2.8% in August.