Norway: Industrial output deteriorates in December
Latest reading: Industrial output slid 0.2% in month-on-month seasonally adjusted terms in December, which contrasted November’s 0.2% increase. Looking at the details of the release, the result largely reflected a drop in extraction and related services—which account for over 80% of industrial output in Norway. In addition, electricity, gas and steam production lost pace.
On an annual basis, industrial output rose 0.3% in calendar-adjusted terms in December, which was below November’s 0.5% expansion. Accordingly, annual average industrial production growth fell to 4.7% in December (November: +5.4%), signaling a worsening trend in the industrial sector.