Norway: Industrial production rebounds in July
September 7, 2016
In July, industrial production expanded 5.5% over the previous month in seasonally-adjusted terms, which marked a rebound from the 4.7% fall recorded in June and represented the highest reading since October 2012. Industrial output was lifted in July by a sharp upswing in oil and gas extraction and extraction-related services and a remarkable pick up in manufacturing.
In annual terms, industrial production expanded 0.5% in July, which contrasted the 5.8% fall recorded in June. Meanwhile, annual average growth in industrial production dropped from plus 0.1% to minus 0.1% in July, which marked the lowest result in two years.