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Financial News: Norway Industrial Production Declines In October

Norway Industrial Production Declines In October

12/07/2017 - 02:20:00 (RTTNews)

(RTTNews) - Norway's industrial production decreased for the first time in ten months in October, figures from Statistics Norway showed Thursday.

Industrial production declined a calendar-adjusted 2.0 percent year-over-year in October, reversing a 12.3 percent surge in September.

Output of extraction and related services contracted 7.9 percent from last year and mining and quarrying production plunged by 11.3 percent.

Meanwhile, manufacturing production registered an increase of 1.9 percent.

On a monthly basis, industrial production dropped a seasonally adjusted 1.4 percent from September, when it fell by 1.7 percent. Manufacturing output grew 0.7 percent, in line with expectations.

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