Financial News: Norway's Industrial Output Falls 4.3%

04/08/2024 - 05:07:00 (RTTNews)

(RTTNews) - Norwegian industrial production declined for the first time in five months in February, data from Statistics Norway showed on Monday.

Industrial production fell a seasonally adjusted 4.3 percent month-on-month in February, reversing a 2.2 percent expansion in the previous month.

Data showed that manufacturing output decreased 1.1 percent after remaining flat in January.

Production in extraction and related services contracted 4.8 percent over the month, while mining and quarrying output advanced by 6.6 percent.

On a yearly basis, industrial production growth eased sharply to 1.8 percent in February from 8.3 percent a month ago.

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