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Financial News: Norway PMI Unexpectedly Climbs In January

Norway PMI Unexpectedly Climbs In January

02/01/2018 - 04:42:00 (RTTNews)

(RTTNews) - Norway's private sector growth sustained its robust momentum into January, buoyed by a solid increase in production, defying expectations for some easing, survey data showed Thursday.

The purchasing managers' index climbed to 59 from 58.1 in December, survey results from the Norwegian Association of Purchasing and Logistics Economists had expected a lower score of 56.6.

A PMI reading above 50 suggests growth in the sector and the latest score was the highest since July.

The production sub-index rose to 64.4, which was the highest reading since July 2011.

The supplier's delivery time sub-index rose to 61.5 from 60.4 in December, marking its highest score since 2007.

However, the indexes for new orders, employment and inventories of purchased goods dropped.

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