Norway: Industrial production falls at a softer clip in November
Latest reading: Industrial production was down 2.2% on a seasonally adjusted month-on-month basis in November, following a 3.1% decline in the previous month.
Relative to the prior month’s figures, readings in November improved for extraction and related services—which account for over 80% of industrial output in Norway (-3.3% on a seasonally adjusted month-on-month basis vs -3.9% in October) and manufacturing (+2.4% vs -1.3% in October). In contrast, the reading for electricity, gas and steam softened in November (+0.5% vs +1.5% in October).
On a working day adjusted year-on-year basis, industrial production rose 2.0% in November, following a 5.1% increase in the prior month.