Norway Industry

Norway

Norway: Industrial production slows in March

May 8, 2015

In March, industrial output increased 1.5% over the previous month in seasonally-adjusted terms, which was a moderation over the previous 2.6% increase tallied in February. March’s expansion was mainly due to strong gains in manufacturing, which saw the largest growth in output since August 2011. However, oil and gas extraction decelerated significantly.

On an annual basis, industrial production in March rose 2.3% in working-day adjusted terms. The reading was an improvement over the 1.9% increase tallied in the previous month and continued the three-month-long upward trend; however, annual average growth in industrial production continued to moderate, declining from February’s 3.1% to 2.7%.

Statistics Norway also reported a 1.1% seasonally-adjusted quarterly contraction over Q1 2015. The decline is attributed to a production slowdown in the oil and gas sector.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.3% in 2015, which is down 0.2 percentage points over the previous month’s estimate. In 2016, the panel sees industrial production climbing 1.0%.


Author:, Economist

Sample Report

Looking for forecasts related to Industry in Norway? Download a sample report now.

Download

Norway Industry Chart


Norway Industry March 2015

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


Norway Economic News

  • Norway: Inflation remains steady in January

    February 9, 2018

    Consumer prices decreased 0.1% in January from the previous month—below market expectations of no change and representing the first month-on-month decline since August last year.

    Read more

  • Norway: Economy contracts in the fourth quarter on lower oil and gas output

    February 9, 2018

    In the fourth quarter of 2017, the economy shrank a seasonally-adjusted 0.3% from the previous quarter, below both market analysts’ expectations of a 0.6% quarter-on-quarter expansion and the third quarter’s revised growth of 0.8% (previously reported: +0.7% quarter-on-quarter).

    Read more

  • Norway: Industrial production decreases in December

    February 7, 2018

    According to Statistics Norway, industrial production fell a seasonally-adjusted 0.4% from the previous month in December, a swing from November’s revised increase of 0.4% (previously reported: +0.6% month-on-month). A contraction in the extraction and related services sector—the largest industrial sector in Norway—spurred the decrease.

    Read more

  • Norway: Inflation accelerates in December

    January 10, 2018

    Consumer prices were unchanged in December last year from the previous month, marking a slowdown compared to the modest increases seen in the prior months.

    Read more

  • Norway: Industrial production expands in November

    January 8, 2018

    According to Statistics Norway, industrial production rose by a seasonally-adjusted 0.6% from the previous month in November, contrasting October’s revised 1.3% decrease (previously reported: -1.4% month-on-month). The expansion in the extraction and related services sector—the largest industrial sector in Norway—drove the increase.

    Read more

More news

Search form