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Financial News: Norway Industrial Production Rises Faster

Norway Industrial Production Rises Faster

05/08/2020 - 07:44:00 (RTTNews)

(RTTNews) - Norway's industrial production grew at a faster pace in March, figures from Statistics Norway showed on Friday.

Industrial production increased 7.6 percent year-on-year in March, following a 5.4 percent rise in February.

Manufacturing output fell 1.3 percent annually in March after a 0.6 percent increase in the previous month.

Production in electricity, gas and steam grew 24.7 percent, and mining and quarrying output rose 11.0 percent.

Among the main industrial groupings, production of energy goods grew 14.0 percent in March and consumer goods gained 2.4 percent.

Durable consumer goods production decreased 13.4 percent, while production of non-durable goods increased 4 percent.

Production of capital goods fell 4.8 percent, while intermediate goods output remained unchanged.

On a month-on-month basis, industrial production increased 1.4 percent in March, after a 2.5 percent rise in the preceding month.

Manufacturing output decreased 3.0 percent in March, following a 0.5 percent fall in the prior month. Economists had expected a 0.2 percent rise.

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