FX.co ★ Norway’s Manufacturing Slump Deepens in January, Extends Month‑to‑Month Decline

Norway’s manufacturing sector weakened further at the start of 2026, with production falling 0.3% in January compared with the previous month, according to data updated on 06 March 2026. The decline follows a 0.2% month‑over‑month drop in December 2025, signaling a continued soft patch for the country’s industrial base.

The month‑over‑month figures show that the contraction in manufacturing output not only persisted but slightly intensified as the calendar turned to the new year. December’s reading reflected a 0.2% decline versus November 2025, while January’s 0.3% slide marks a second consecutive monthly decrease. The back‑to‑back negative prints highlight ongoing pressure on Norwegian manufacturers, with no clear sign of a rebound yet visible in the latest data.

The comparison basis underscores the short‑term nature of this deterioration: each monthly figure measures the change in output relative to the immediately preceding month. With January’s fall exceeding December’s, concerns may rise that weakness in manufacturing could weigh more heavily on Norway’s broader economic momentum if the trend continues.