Norway: Industrial production contracts in July
Latest reading: Industrial production declined 7.1% in seasonally adjusted month-on-month terms in July, following 7.6% growth in the previous month. July’s reading was the weakest since September 2024.
Relative to the previous month’s figures, readings in July softened for extraction and related services—which account for nearly 75% of industrial output in Norway (-8.8% on a seasonally adjusted month-on-month basis vs +10.2% in June) and electricity, gas and steam (-7.6% vs +3.2% in June). In contrast, the reading for manufacturing improved in July (+0.7% vs -1.0% in June).
In working-day adjusted year-on-year terms, industrial production was down 1.8% in July, following a 9.1% rise in the previous month.