Industry in Norway

Norway Industry | Economic News & Forecasts

Norway - Industry

Industrial production drops in August

Industrial production decreased a seasonally-adjusted 2.1% in August from the previous month, contrasting July’s 0.6% rise. August’s decrease was driven by a contraction in extraction and related services, which accounts for around 65% of industry in Norway. The sector continued its recent decline, dropping 3.0% month-on-month. The electricity, gas and steam, manufacturing and mining and quarrying subsectors also helped push the index lower.

In annual working day adjusted terms, industrial output dropped 9.2% in August, a harder fall than the 5.7% decrease seen in July. The annual average change in industrial production slipped to minus 3.1% in August, down from minus 2.1% in July.

FocusEconomics Consensus Forecast panelists project that industrial production will contract 4.3% in 2019, which is down 2.6 percentage points from last month’s projection, and expand 2.6% in 2020, which is up 0.3 percentage points from last month’s estimate.

Norway - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-5.0  3.6  0.6  -1.5  2.1  

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Norway Industry Chart

Norway Industry
Note: Annual variation of industrial production in %.
Source: Statistics Norway and FocusEconomics calculations.

Norway Facts

Bond Yield1.13-0.65 %Sep 04
Exchange Rate9.03-0.38 %Sep 04
Stock Market859-0.08 %Sep 04

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