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Norway Industrial Production Growth Quickens In August

Norway's industrial production growth accelerated sharply in August, figures from Statistics Norway showed Friday.

Industrial production climbed a calendar-adjusted 6.7 percent year-over-year in August, much faster than the 0.5 percent gain in July. The measure has been rising since January.

Output of extraction and related services grew 7.3 percent annually in August and manufacturing production rose slightly by 0.2 percent.

At the same time, mining and quarrying output registered a decline of 4.0 percent.

On a monthly basis, industrial production edged down a seasonally adjusted 0.1 percent from July, when it rose by 1.1 percent.

Manufacturing production contracted 5.7 percent in August, well above the 0.7 percent fall economists had forecast.

by RTTNews Staff Writer

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