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Financial News: Norway's Manufacturing Sector Contracts At Slower Pace

Norway's Manufacturing Sector Contracts At Slower Pace

06/02/2020 - 08:50:00 (RTTNews)

(RTTNews) - Norway's manufacturing sector contracted at a slower pace in May driven by a gradual reopening of the economy, survey data from the DNB bank showed on Tuesday.

The factory Purchasing Managers' Index rose to 45.9 in May from revised 43.0 in April. However, a score below 50 indicates contraction.

The sub-indices for production rose four points to 40.8. Likewise, the new orders index gained 6.3 points to 41.0 and the employment index climbed 6.7 points to 40.6.

Meanwhile, the sub-index for delivery times fell sharply by 10.9 points to 64.9 in May, the survey showed.

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