Norway: Industrial production rebounds robustly in April
June 7, 2012
In April, industrial output expanded a seasonally adjusted 2.4% over the previous month, which contrasted the 0.2% drop tallied in March (previously reported: -0.7% month-on-month). According to Statistics Norway, the improvement was broad-based, albeit particularly due to a hefty rise in electricity, gas and steam output. On an annual basis, industrial activity grew 7.5% in working-day adjusted terms, which was up from the 2.4% rise observed in March and marked, in fact, the strongest reading since August 2005. Owing to the healthy April figure, annual average variation in industrial production improved from minus 1.9% in March to minus 0.6% in April.