FX.co ★ Norway Industrial Production Growth Improves

Norway's industrial production increased at a faster pace in February mainly due to mining and quarrying output, figures from Statistics Norway showed on Monday.

Industrial production increased 1.6 percent year-on-year in February, following a 0.2 percent growth in January.

Manufacturing output fell 1.9 percent annually in February, following a 0.2 percent decrease in January.

Production in mining and quarrying rose 25.3 percent, while that in the electricity, gas and steam sector declined 11.0 percent.

Among the main industrial groupings, production of intermediate goods increased 3.6 percent yearly in February.

Meanwhile, production in consumer goods decreased 4.3 percent and energy goods declined 1.4 percent. Production of capital goods fell 2.7 percent.

Durable consumer goods production decreased 7.0 percent and production of non-durable goods fell 4.2 percent.

On a month-on-month basis, industrial production fell 0.8 percent in February, after a 0.9 percent growth in the preceeding month.