Industry in Norway
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 |
Norway Industry Chart
Source: Statistics Norway and FocusEconomics calculations.
Norway Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.13 | -0.65 % | Sep 04 |
| Exchange Rate | 9.03 | -0.38 % | Sep 04 |
| Stock Market | 859 | -0.08 % | Sep 04 |
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Economic News
Norway: Industrial production drops in August
October 7, 2019
Industrial production decreased a seasonally-adjusted 2.1% in August from the previous month, contrasting July’s 0.6% rise.
Norway: Norges Bank goes against the tide to raise rates in September
September 19, 2019
The executive board of Norges Bank unanimously decided to raise the sight deposit rate to 1.50% from 1.25% at its monetary policy meeting on 18 September.
Norway: Inflation softens in August
September 10, 2019
Consumer prices fell 0.7% in August, contrasting July’s 0.7% increase.
Norway: Industrial production rebounds in July
September 6, 2019
Industrial production increased a seasonally-adjusted 0.5% in July from the previous month, contrasting June’s 1.3% decline.
Norway: The economy picks up pace in Q2 as investment flourishes
August 29, 2019
The economy expanded 0.3% in the second quarter of 2019 in quarter-on-quarter seasonally-adjusted terms, after flatlining in Q1 (previously reported: -0.1% quarter-on-quarter).
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