Norway: Industrial production rebounds at the end of 2012
February 8, 2013
In December, industrial output expanded a seasonally adjusted 1.1% over the previous month, which contrasted the 3.5% drop tallied in November (previously reported: -3.6% month-on-month). According to Statistics Norway, the improvement was broad-based as all components of the index rebounded over the previous month. Particularly, electricity, gas and steam recorded the largest gain.
On an annual basis, industrial production remained flat in working-day adjusted terms, which came in above the 3.5% drop observed in November. As a result, in the full year 2012 industrial production expanded 2.7%, contrasting the 4.3% drop witnessed in 2011.