Norway’s industrial production decline slowed in February, figures from the Statistics Norway showed on Friday.
Industrial production fell 1.8 percent month-on-month in February, after a 2.2 percent decline in January. Economists had expected a 0.3 percent rise in production.
Manufacturing output declined 0.3 percent in February, following a 0.1 percent fall in the previous month.
Electricity, gas and steam production fell the most by 6.5 percent monthly, followed by a 2.3 percent slump in the production of extraction and related services.
Among the main industrial groupings, production of intermediate goods rose by 1.5 percent, while that of consumer goods fell by 0.8 percent in February. Capital goods production grew 0.7 percent.
On a year-on-year basis, industrial production declined 5.7 percent in February, following a 3.4 percent fall in the prior month.
Manufacturing output climbed 3.1 percent annually in February, after a 4.0 percent rise in January.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
