Norway’s manufacturing production rebounds in March

Manufacturing production in Norway was reported to have increased at a monthly rate of 5.4% in March, while rebounding from a revised down 1% slump in February.

In March, production rebounded for textiles, wearing apparel & leather (8.7% month-over-month after a 0.5% drop in February), refined petroleum, chemicals & pharmaceuticals (5.8% month-over-month after a 5.2% slump in February), rubber, plastic & mineral products (7.5% month-over-month after a 3.8% decrease in February) and furniture & manufacturing (11.3% month-over-month after a 1.8% slump in February).

Conversely, production shrank for wood & wood products (-0.4% after a 1.3% surge in February), paper & paper products (-1.4% after a 0.4% growth in February), basic chemicals (-0.5% after an 8.3% increase in February) and non-ferrous metals (-3% after a 0.8% growth in the prior month).

In annual terms, Norway’s manufacturing output grew 5.7% in March, while recovering after a 2% decline in February.

The Norwegian Krone was little changed on the day against the Euro, with the EUR/NOK currency pair last trading at 11.7270.