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Financial News: Norway Industrial Production Falls 0.9%

Norway Industrial Production Falls 0.9%

01/06/2023 - 04:45:00 (RTTNews)

(RTTNews) - Norway's industrial production continued to decline in November as a result of a fall in mining and quarrying and manufacturing, data from Statistics Norway showed on Friday.

Industrial production fell a seasonally adjusted 0.9 percent month-on-month in November, following a 1.1 percent decrease in October.

Production in extraction and related services deteriorated by 3.8 percent monthly in November, and output in the mining and quarrying segment declined by 4.2 percent.

Manufacturing output dropped 0.5 percent in November, after a 0.3 percent growth in the previous month.

On a yearly basis, industrial production climbed 4.5 percent in November, following a 3.5 percent rise in the prior month.

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