Industry in Norway

Norway Industry | Economic News & Forecasts

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

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

ValueChangeDate
Bond Yield1.64-0.65 %Feb 20
Exchange Rate8.59-0.38 %Feb 20
Stock Market862-0.08 %Feb 20

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