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Financial News: Norway Industrial Production Rises In August

Norway Industrial Production Rises In August

10/07/2020 - 06:42:00 (RTTNews)

(RTTNews) - Norway's industrial production increased in August, figures from Statistics Norway showed on Wednesday.

Industrial production increased 8.3 percent year-on-year in August, following a 7.4 percent rise in July.

Manufacturing output fell 2.5 percent annually in August, following a 6.1 percent decrease in the previous month.

Production in electricity, gas and steam grew 14.7 percent, while the mining and quarrying output fell 4.7 percent.

Among the main industrial groupings, production of energy goods grew 20.8 percent yearly in August.

Meanwhile, production of capital goods fell 6.0 percent. Production in intermediate goods and consumer goods declined 2.4 percent and 1.8 percent, respectively.

Durable consumer goods production increased 13.3 percent, while production of non-durable goods fell 2.7 percent.

On a month-on-month basis, industrial production rose 1.1 percent in August, after a 2.5 percent gain in the preceding month.

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