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Financial News: Norway Manufacturing Grows Further

Norway Manufacturing Grows Further

01/02/2020 - 09:29:00 (RTTNews)

(RTTNews) - Norway's manufacturing growth strengthened in December, amid gains in output, new orders and employment, survey data from the DNB bank showed on Thursday. The DNB Purchasing Managers' Index climbed to 55.5 from 53.8 in November. A reading above 50 signals growth in the sector. Economists had forecast a score of 53.4.

"We believe today's index reading is unlikely to affect Norges Bank's assessment of the economy," DNB Senior Economist Kyrre Aamdal said.

In December, the sub-indexes for production, new orders, employment and inventory rose, while that for suppliers' delivery times declined.

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