Norwegian Industrial Production Growth Slows

Norway’s industrial production increased at a softer pace in March, figures from Statistics Norway showed on Thursday.

Industrial production grew 0.6 year-on-year in March, after a 1.5 percent increase in February.

Manufacturing output rose 4.7 percent annually in March, after a 0.8 percent increase in the previous month.

Production in electricity, gas and steam declined 2.6 percent and mining and quarrying output fell 32.4 percent.

Among the main industrial groupings, production of energy goods decreased 3.1 percent yearly in March and production in intermediate goods fell 1.8 percent.

Meanwhile, production of capital goods gained 4.3 percent and consumer goods surged 5.5 percent.

Durable consumer goods production increased 26.5 percent and production of non-durable goods rose 3.6 percent.

On a month-on-month basis, industrial production increased 0.9 percent in March, after a 1.2 percent growth in the preceding month.

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