Industry in Norway
Norway - Industry
Industrial production growth rebounds in October
According to Statistics Norway, industrial production rose a seasonally-adjusted 2.3% in October compared to the previous month, contrasting the revised 2.0% fall in September (previously reported: -1.5% month-on-month).
The rebound in October was due to a broad-based improvement across industrial sectors. Notably, the mining and quarrying sector led the way with a surge in output compared to the previous month. Moreover, the extraction and related services sector—the largest industrial sector in Norway—observed higher output, as did the manufacturing, and electricity, gas and steam sectors.
In annual terms when adjusted for working days, industrial production increased 4.5% in October, up from 0.7% in September. Annual average growth in industrial production accelerated to 0.8% in October from 0.2% in September.
Norway Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will grow 2.8% in 2019, which is up 0.6 percentage points from last month’s projection, and 2.5% in 2020.
Norway - Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | -5.0 | 3.6 | 0.6 | -1.5 | 2.1 |
Norway Industry Chart
Source: Statistics Norway and FocusEconomics calculations.
Norway Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.85 | -0.65 % | Dec 11 |
| Exchange Rate | 8.58 | -0.38 % | Dec 11 |
| Stock Market | 835 | -0.08 % | Dec 11 |
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Economic News
Norway: Inflation accelerates in November
December 10, 2018
Consumer prices rose 0.5% in November compared to the previous month, contrasting the 0.2% fall in October.
Norway: Industrial production growth rebounds in October
December 7, 2018
According to Statistics Norway, industrial production rose a seasonally-adjusted 2.3% in October compared to the previous month, contrasting the revised 2.0% fall in September (previously reported: -1.5% month-on-month). The rebound in October was due to a broad-based improvement across industrial sectors.
Norway: The economy wobbles in September
November 13, 2018
According to monthly GDP data released by Statistics Norway, the total economy contracted a seasonally-adjusted 0.5% in September over the previous month, down from the revised 0.2% fall in August (previously reported: -0.1% month-on-month).
Norway: Inflation moderates in October
November 9, 2018
Consumer prices fell 0.2% month-on-month in October, contrasting the 0.6% gain in September.
Norway: Industrial production growth slows in September
November 7, 2018
According to Statistics Norway, industrial production fell a seasonally-adjusted 1.5% in September compared to the previous month, contrasting the revised 1.6% growth registered in August (previously reported: +1.8% month-on-month). The fall in September was due to a near-broad-based decline across industrial sectors: The extraction and related services sector—the largest industrial sector in Norway—observed a 3.5% fall in output.
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