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Norway industrial production plunges in June

Staff Writer | August 6, 2016
Norway's industrial production declined for the second straight month in June, and at a steeper pace, figures from Statistics Norway showed.
Norway factory
North of Europe   Industrial production slipped in Norway
Industrial production fell a calendar-adjusted 8.7 percent year-over-year in June, much faster than the 0.7 percent drop in May.

Output of extraction and related services contracted 11.4 percent annually in June and manufacturing production dipped by 6.5 percent. Mining output also logged a fall of 7.2 percent.

On a monthly basis, industrial production slipped 5.1 percent in June, defying economists' forecast for a 0.4 percent gain. In May, production had fallen 0.2 percent.

Manufacturing production decreased 2.9 percent over the month, while it was expected to climb by 0.4 percent.