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Financial News: Norway Industrial Production Decline Slows In February

Norway Industrial Production Decline Slows In February

04/05/2019 - 09:46:00 (RTTNews)

(RTTNews) - 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.

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