Norway: Industrial production shrinks in October
Latest reading: Industrial production declined 2.8% in seasonally adjusted month-on-month terms in October, following 3.7% growth in the prior month. October’s reading was the weakest since September 2024.
Relative to the prior month’s figures, the reading for extraction and related services—which account for over 80% of industrial output in Norway—softened in October (-3.5% in seasonally adjusted month-on-month terms vs +4.9% in September). In contrast, readings picked up for manufacturing (-0.9% vs -1.4% in September) and electricity, gas and steam (+1.3% vs +1.2% in September).
In calendar-adjusted year-on-year terms, industrial production was up 5.1% in October, following a 20.7% increase in the prior month.