Norway manufacturing production rebounds in November

Manufacturing production in Norway was reported to have increased at a monthly rate of 1.1% in November, while recovering after three straight months of declines, data by Statistics Norway showed.

In November, production rebounded for:

– textiles, wearing apparel, leather (5.8% after a 5.6% drop in October);
– paper and paper products (1.2% after a 4.5% decline in October);
– computer and electrical equipment (3.3% after a 2.5% drop in October);
– machinery and equipment (2.9% after a 2.6% decrease in October).

Output shrank at a slower pace for refined petroleum, chemicals and pharmaceuticals, by 1.6% compared to a 3.4% decline in October.

In the meantime, production dropped for:

– basic chemicals (-1.8% after a 4.2% surge in October);
– ships, boats and oil platforms (-0.3% after a 3.5% increase in October).

Manufacturing comprises more than one quarter of Norway’s total production.

The Norwegian Krone was 0.13% weaker on the day against the Euro, with the EUR/NOK currency pair last trading at 11.7435 ahead of Euro Area’s preliminary CPI inflation report for December.