Industry in Norway

Norway Industry | Economic News & Forecasts

Norway - Industry

Industrial production contracts in June

Industrial production declined a seasonally-adjusted 1.4% in June from the previous month, contrasting May’s 0.6% increase. June’s decrease was driven by a sharp fall in output from the extraction and related services sector, which accounts for over half of industry in Norway. Moreover, the mining and quarrying, manufacturing, and electricity, gas and steam sectors also fell in June over the month prior.

Looking at industrial production in annual terms when adjusted for working days, output dropped 8.6% in June, down from the 2.5% fall in May. The annual average change in industrial production slipped to -1.7% in June, down from the 0.7% fall in May.

FocusEconomics Consensus Forecast panelists project that industrial production will contract 1.5% in 2019, which is down 1.9 percentage points from last month’s projection, and expand 2.3% 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  

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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 Yield1.35-0.65 %Jul 31
Exchange Rate8.86-0.38 %Jul 31
Stock Market859-0.08 %Jul 31

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