Norway’s manufacturing sector expanded in April after contracting in prior month, survey data from the Norwegian Association of Purchasing and Logistics showed Monday.
The Purchasing Managers’ Index rose to 50.5 in April from 48.6 in March. A reading above 50 indicates expansion and a score below 50 signals contraction.
Economists had expected the sector to remain in negative zone in April as the reading was seen at 49.5.
The production sub-index rose to 54.4 in April from 49.3. The indicator for orders climbed to 51 from 50.8 a month ago.
The employment sub-index rose to 48.1 in April from 43.8 in March. The reading suggests further fall in employment but the decline was significantly lower than in previous month.
The material has been provided by InstaForex Company – www.instaforex.com