FX.co ★ Norway Industrial Production Rebounds 3.8%

Statistics Norway recently reported that the country's industrial production witnessed growth in March, a significant recovery from a drop experienced in the prior month.

March saw a seasonally adjusted increase of 3.8% in industrial production, overturning a 4.2% decline in February. This February drop marked the first time in five months that such a dip was noticed.

Evidence highlighted a significant bounce back in manufacturing output, which grew by a considerable 5.4% in March, compared to a decrease of 1.0% in the previous month.

Additional data revealed advancements in certain sectors- extraction and associated services rose by 3.8%, while mining and quarrying output saw a remarkable 21.7% surge.

Year-over-year data showed an acceleration of growth in industrial production in March to 4.6%, an increase from 2.0% in the preceding month.