June 10, 2023
Compared to March, Norway’s industrial output decreased by 0.3% less in April 2023 than was anticipated by the market. It was the third consecutive month of fall as output fell for ships, boats, and oil platforms (-0.5% versus 0.9%), refined petroleum, chemicals, and pharmaceuticals (-0.1% vs -0.8%), and food, beverages, and tobacco (-0.8% vs -0.2% in March). While production for machinery and equipment stagnated (vs -0.2%), it increased for basic metals (1.9% vs -0.4%). The industrial sector saw its annual output decline of 2.4%, the most since October 2020.
Source: Trading Economics
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