Norway: Industrial production rebounds in January
March 7, 2012
In January, industrial output expanded a seasonally adjusted 4.5% over the previous month, which contrasted the 2.2% drop tallied in December. According to the statistical institute, foodstuffs and production of basic chemical and metal products were the main drivers behind the monthly improvement. On an annual basis, industrial activity grew 3.0% in working-day adjusted terms, contrasting a 4.9% decline in December and thus turning positive for the first time in four months. Owing to January's acceleration, annual average variation in industrial production improved from a 4.5% drop in December to a 3.6% contraction in January.