FX.co ★ Norway Manufacturing Output Drops for 2nd Month

Norway’s manufacturing output declined by 0.3% month-over-month in January 2026, following an upwardly revised 0.2% decrease in December. This marked the second consecutive monthly contraction, driven by weaker production of fabricated metal products (-1.0%, unchanged from December), computer and electrical equipment (-1.9% vs -0.8%), machinery and equipment (-3.8% vs -1.0%), and ships, boats, and oil platforms (-0.8% vs 2.4%).

These declines were partially offset by a rebound in the production of food, beverages, and tobacco (up 1.3% vs -0.7%) and in the repair and installation of machinery (up 1.3% vs -0.1%), while growth strengthened further in refined petroleum, chemicals, and pharmaceuticals (4.3% vs 0.9%). On an annual basis, manufacturing output rose 2.2% in January, after a 1.2% increase in December.