Norway: Industrial production drops in December
February 7, 2012
In December, industrial output contracted a seasonally adjusted 2.2% over the previous month, which contrasted the 0.9% expansion tallied in November (previously reported: +1.2% month-on-month). According to the statistical institute, production of paper goods as well as of basic chemical products were the main drivers behind the monthly deterioration. On an annual basis, industrial activity fell 4.9% in working-day adjusted terms, following on from a 1.2% drop in November. In the full year 2011, industrial production dropped for a third consecutive year and declined 4.4% (2010: -5.4% year-on-year).