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Financial News: Norway Industrial Production Falls For Second Month

Norway Industrial Production Falls For Second Month

07/06/2018 - 02:39:00 (RTTNews)

(RTTNews) - Norway's industrial production declined for the second straight month in May, figures from Statistics Norway showed Friday.

Industrial production fell a calendar-adjusted 1.6 percent year-over-year in May, following a 1.9 percent drop in April.

Among sectors, output of extraction and related services contracted notably by 7.0 percent annually in May and mining and quarrying output slid by 1.3 percent.

At the same time, manufacturing production registered an increase of 0.5 percent.

On a monthly basis, industrial production slipped 0.9 percent from April, when it fell by 1.4 percent.

Manufacturing output declined 0.7 percent over the month versus the expected increase of 0.3 percent.

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