Industrial production in Norway increased by 0.7 percent from a year earlier in September 2018, easing from a 2.3 percent rise in the previous month. Manufacturing output growth slowed to 1.5 percent from 5.1 percent in August, mainly due to declines in production of food, beverages & tobacco (-3.6 percent vs 2.9 percent), computer & electrical equipment (-5.6 percent vs 9.7 percent), repair, installation of machinery (-4.5 percent vs -1.8 percent), and rubber, plastic & mineral products (-0.9 percent vs 1.1 percent). In addition, machinery & equipment output went up at softer pace (0.5 percent vs 6.8 percent). Meanwhile, extraction & related services shrank 3.5 percent (vs 2.1 percent in August) and mining & quarrying declined 6.6 percent (vs 0.3 percent) while electricity, gas & steam grew 6.1 percent (vs 5.7 percent). On a monthly basis, industrial production went up by 1.5 percent in September, compared to a 1.6 percent gain in the prior month. Industrial Production in Norway averaged 0.40 percent from 1991 until 2018, reaching an all time high of 15.40 percent in June of 1994 and a record low of -13.10 percent in August of 2010.
Industrial Production in Norway is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Norway to stand at 0.34 in 12 months time. In the long-term, the Norway Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.