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Norway sees historical drop in manufacturing output during last quarter

Christian Fernsby ▼ | July 7, 2020
According to seasonally-adjusted figures, manufacturing output saw a clear decline of as much as 5.2 per cent in the period March –May 2020 compared with the previous three-month period.
Norwegian factory
Norwegian fall   Manufacturing
This is the largest output drop registered for a three-month period in this time series which goes back to 1990. The steep fall is due to the fact that all three months in this period have seen low production levels as a result of the Corona-situation.

Topics: norway manufacturing

Ships, boats and oil platforms contributed the most to the decline in this period with a substantial drop of as much as 30 per cent.

On the other hand, food products dampened the overall output decline with a solid production increase in this period. The growth must be seen in context with high demand from the Norwegian grocery sector.


 

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