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Financial News: Norway Industrial Production Decline At Slower Pace

Norway Industrial Production Decline At Slower Pace

11/07/2019 - 02:36:00 (RTTNews)

(RTTNews) - Norway's industrial production declined at a slower pace in September, figures from Statistics Norway showed on Thursday.

Industrial production declined a calendar-adjusted 8.1 percent year-on-year in September, following a 9.2 percent fall in August.

The manufacturing output rose 2.9 percent annually in September and output in mining and quarrying grew by 12.5 percent.

The annual fall was driven by a sharp 14.5 percent decrease in extraction and related services. Moreover, output of electricity, gas and steam fell 2.1 percent.

On a monthly basis, industrial production fell 0.5 percent in September, after a 2.1 percent decrease in the previous month.

Manufacturing output rose 0.8 percent month-on-month in September.

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