Norway's industrial production surged 1.1 percent year-on-year in December 2019, following a 0.9 percent contraction in the previous month. This was the first increase in industrial production since December 2018, as extraction and related services jumped 6.2 percent, accelerating from a 2.0 percent rise in the previous month. Meantime, manufacturing growth slowed (0.6 percent vs 1.0 percent) due to a softer rise in fabricated metal products (4.5 percent vs 5.5 percent), ships, boats and oil platforms (29.5 percent vs 34.4 percent). In addition, output for machinery and equipment fell (-6.1 percent vs 3.3 percent), while production of food, beverage and tobacco dropped more (-3.3 percent vs -1.3 percent). On the other hand, electricity, gas and steam continued to fall (-9.6 percent vs -4.9 percent).
Industrial Production in Norway averaged 0.24 percent from 1991 until 2019, reaching an all time high of 15.40 percent in June of 1994 and a record low of -13.10 percent in August of 2010. This page provides - Norway Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics Norway
Industrial Production in Norway is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Norway to stand at 2.50 in 12 months time. In the long-term, the Norway Industrial Production is projected to trend around 2.00 percent in 2021, according to our econometric models.