Norway Manufacturing Output Unexpectedly Drops In September
(RTTNews) - Norway's manufacturing output decreased in September, defying expectations for a gain, mainly due to a decline in the production of food, figures from Statistics Norway showed on Wednesday.
Manufacturing output fell 0.3 percent from August. Economists were looking for a 0.4 percent increase.
Product ion of food, beverages and tobacco registered a 4.2 percent fall.
In contrast, manufacture of ships, boats and oil platforms increased 4.3 percent.
Overall industrial production decreased 1.5 percent monthly in September.
On a year-on-year basis, manufacturing output grew 1.5 percent and industrial production rose 0.7 percent.
In the third quarter, manufacturing output rose 0.6 percent from the previous three months and industrial production increased 1.4 percent.SEE ALSO: The loonie is climbing after the Bank of Canada raised its benchmark rate to 1.5% ÃÂ» READ NOW: Facebook says Russia may have been behind a fresh plot to contaminate US democracy during the midterms ÃÂ» SUBSCRIBE NOW:
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