FX.co ★ Norway Manufacturing Output Continues to Fall

Norway’s manufacturing output fell by 0.4% month-over-month in February 2026, following a downwardly revised 0.2% decline in January. This was the third consecutive monthly contraction, driven by renewed drops in the production of refined petroleum, chemicals, and pharmaceuticals (-1.2% vs +4.3% in January) and food, beverages, and tobacco (-2.1% vs +1.2%). The downturn was compounded by steeper declines in the output of ships, boats, and oil platforms (-2.1% vs -1.1%) and rubber, plastic, and mineral products (-2.4% vs -0.2%). Growth also moderated in the repair and installation of machinery segment (0.2% vs 1.3%).

In contrast, production rebounded for fabricated metal products (0.4% vs -1.0%), computer and electrical equipment (0.6% vs -1.9%), and machinery and equipment (0.8% vs -3.3%). On an annual basis, manufacturing output slipped 0.1%, after expanding 2.2% in January.