Norway: Industrial production rebounds in December
Latest reading: Industrial production rose 0.8% on a seasonally adjusted month-on-month basis in December, following a 1.9% decline in the prior month.
Relative to the prior month’s data, the reading for extraction and related services—which account for over 80% of industrial output in Norway—improved in December (+1.0% in seasonally adjusted month-on-month terms vs -2.8% in November). In contrast, readings softened for manufacturing (-0.1% vs +2.0% in November) and electricity, gas and steam (0.0% vs +0.6% in November).
On a working day adjusted year-on-year basis, industrial production rose 2.3% in December, following 2.0% growth in the prior month.