08.08.201903:47:00UTC+00Norway Industrial Production Drops Further

Norway's industrial production declined at the fastest rate in June, figures from Statistics Norway showed on Thursday.

Industrial production declined 8.6 percent year-on-year in June, following a 2.5 percent fall in May.

The manufacturing output rose 3.0 percent annually in June.

Among sectors, output of extraction and related services fell by 15.2 percent annually in June. Output in mining and quarrying dropped by 11.1 percent and that of electricity, gas and decreased by 2.7 percent.

On a monthly basis, industrial production fell 1.4 percent in May, after a 0.6 percent increase in the previous month.

Manufacturing output fell 1.0 percent month-on-month in June. Economists had expected a 0.3 percent rise.

In the second quarter, industrial production fell to 1.2 percent from the previous quarter.