Norway’s industrial production increased for the second straight month in March, figures from Statistics Norway showed Friday.
Industrial production climbed a calender-adjusted 2.3 percent in March, faster than February’s 1.9 percent increase. In January, production had fallen 0.3 percent.
Production in the manufacturing sector grew 4.1 percent in March from the previous year and that for utility sector advanced by 7.3 percent. At the same time, mining and quarrying output plunged by 8.9 percent.
Month-on-month, industrial production increased at a slower pace of 0.4 percent in March, following a 3.5 percent hike in the prior month.
Manufacturing production expanded 3.2 percent monthly in March, much faster than economists’ expectations for a 0.2 percent slight growth. In February, output had risen 0.6 percent.
In the first quarter of this year, industrial production dipped 1.1 percent from the previous quarter and manufacturing output fell by 1.0 percent.
The material has been provided by InstaForex Company – www.instaforex.com