Norway's industrial production increased 3.1 percent year-on-year in June 2020, unchanged from a revised figure in the previous month. It was still the least since January. Output grew softer for electricity, gas & steam (11.6 percent vs 23.1 percent in May), while production of extraction & related services expanded more (13.7 percent vs 11.7 percent). On the other hand, manufacturing output contracted 7.2 percent, after decreasing 8.2 percent in the previous month, due to a drop in refined petroleum, chemicals and pharmaceutical products (-1.5 percent vs -11.2 percent), machinery and equipment (-9.1 percent vs -9.1 percent), fabricated metal products (-12.5 percent vs -9.1 percent), ships, boats & oil platforms (-21.3 percent vs -23.4 percent), computer and electrical equipment (-1.5 percent vs -1.9 percent), repair, installation of machinery (-11.0 percent vs -11.1 percent), and rubber, plastic and mineral products (-7.3 percent vs -9.1 percent).
Industrial Production in Norway averaged 0.30 percent from 1991 until 2020, 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. Norway Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Norway
Industrial Production in Norway is expected to be 3.20 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 3.00 in 12 months time. In the long-term, the Norway Industrial Production is projected to trend around 1.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.