Norway’s manufacturing production rebounds in May

Manufacturing production in Norway was reported to have increased at a monthly rate of 1.3% in May, while rebounding from a revised down 5.5% drop in April.

Production rebounded for most components:

– textiles, wearing apparel & leather (8.4% in May after a 15.4% drop in April);
– printing & reproduction (1.3% in May after a 3.5% decrease in April);
– rubber, plastic & mineral production (4.1% in May after a 7.7% decrease in April);
– basic metals (0.4% in May after a 0.8% drop in April);
– fabricated metal products (5.5% in May after a 7% slump in April);
– computer & electrical equipment (2.2% in May after a 6.8% drop in April);
– machinery & equipment (0.7% in May after a 4.3% decrease in April);
– ships, boats & oil platforms (1.5% in May after a 4.1% decrease in April);
– transport equipment (3% in May after a 4.9% slump in April);
– repair & installation of machinery (4.5% in May after an 8.1% drop in April);
– furniture & manufacturing (9.2% in May after a 2.6% drop in April).

In annual terms, Norway’s manufacturing output shrank 0.9% in May.

The USD/NOK currency pair settled 0.17% lower at 10.5228 on Friday. For the week, the exotic currency pair went down 1.27%.