Norway Industrial Production Rises 1 Percent in August
Statistics Norway reported a 1.0 percent increase in industrial production for August, reversing a sharp decline seen in July.
Industrial production in Norway rose by a seasonally adjusted 1.0 percent month-over-month in August, according to data released Wednesday by Statistics Norway. This growth marks a recovery from July, which saw a sharp 7.1 percent decline.
The rebound was primarily driven by the mining and quarrying sector, which grew by 16.7 percent, and extraction and related services, which increased by 1.8 percent. These gains offset a 0.4 percent contraction in manufacturing production during the same period.
On an annual basis, the decline in industrial production slowed to 0.6 percent in August, an improvement over the 1.8 percent drop recorded the previous month.
