Industry in Norway
Norway - Industry
Industrial production falls in December for second consecutive month
According to Statistics Norway, industrial production fell a seasonally-adjusted 1.0% in December compared to the previous month, less than the 1.5% contraction in November. The decrease in December was due to another output fall in the extraction and related services sector, the largest industrial sector in Norway. Moreover, the electricity, gas and steam sector recorded lower production in December, although manufacturing output returned to growth, contrasting a contraction in November.
In annual terms when adjusted for working days, industrial production expanded 1.2% in December, down from 2.6% in November. Annual average growth in industrial production, however, accelerated to 1.2% in December from 1.1% in November.
Norway Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will grow 1.7% in 2019, which is down 0.2 percentage points from last month’s projection, and 2.4% in 2020.
Norway - Industry Data
|Industrial Production (annual variation in %)||-5.0||3.6||0.6||-1.5||2.1|
5 years of economic forecasts for more than 30 economic indicators.
Norway Industry Chart
Source: Statistics Norway and FocusEconomics calculations.
|Bond Yield||1.64||-0.65 %||Feb 20|
|Exchange Rate||8.59||-0.38 %||Feb 20|
|Stock Market||862||-0.08 %||Feb 20|
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February 11, 2019
Consumer prices fell 0.5% in January compared to the previous month, contrasting the steady reading in December.
February 8, 2019
The economy grew a seasonally-adjusted 0.5% in the fourth quarter, down from 0.6% in the third quarter and hampered by the large fall in oil prices observed in the period.
February 7, 2019
According to Statistics Norway, industrial production fell a seasonally-adjusted 1.0% in December compared to the previous month, less than the 1.5% contraction in November.
January 24, 2019
In line with market analysts’ expectations, Norges Bank announced on 24 January that it was keeping the sight deposit rate unchanged at 0.75% amid high but controlled inflation and robust economic activity.
January 10, 2019
Consumer prices were unchanged in December compared to the previous month, contrasting the 0.5% rise in November.