Norway Industry

Norway

Norway: Industrial production rebounds in August

October 7, 2015

In August, industrial output expanded 1.7% over the previous month in seasonally-adjusted terms, which contrasted the revised 1.3% drop tallied in July (previously reported: -1.5% month-on-month). August’s expansion came amid improvements in all components of the index, with the oil and gas extraction expanding the most and manufacturing contracting at a slower pace compared to last month.

On an annual basis, industrial production in August increased 3.1% in working-day adjusted terms, up from the 2.8% increase registered in July. Annual average growth in industrial production inched up in August, climbing from July’s 3.2% increase to 3.3%.

FocusEconomics Consensus Forecast panelists expect industrial production to drop 0.8% in 2015, which is unchanged over the previous month’s estimate. In 2016, the panel sees industrial production contracting by 2.1% which is down 1 percentage point from last month’s projection.


Author:, Economist

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Norway Industry August 2015

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Norway (SN).


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