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Norway Industrial Production Decline Slows In July

Norway's industrial production declined at the slower rate in July, figures from Statistics Norway showed on Friday.

Industrial production fell a calendar-adjusted 5.7 percent year-on-year in July, following an 8.6 percent decline June.

The manufacturing output rose 3.8 percent annually in July.

Output of extraction and related services fell by 11.1 percent annually in July.

Meanwhile, output in mining and quarrying and electricity, gas and steam grew by 20.0 percent and 3.8 percent, respectively.

On a monthly basis, industrial production rose 0.5 percent in July, after a 1.3 percent fall in the previous month.

Manufacturing output rose 1.0 percent month-on-month in July. Economists had expected a 0.4 percent rise.

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