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Norway Industrial Production Growth Slows In May

Norway's industrial production grew at a softer pace in May, figures from Statistics Norway showed on Tuesday.

Industrial production increased 3.0 percent year-on-year in May, after a 5.4 percent rise in April.

Manufacturing output fell 8.2 percent annually in May, following a 5.1 percent decrease in the previous month.

Production in electricity, gas and steam grew 23.1 percent, and mining and quarrying output rose 5.8 percent.

Among the main industrial groupings, production of capital goods decreased 11.2 percent in May, while energy goods output rose 20.3 percent.

Production of intermediate goods and consumer goods declined by 9.4 percent and 5.8 percent, respectively.

Durable consumer goods production decreased 29.9 percent, and production of non-durable goods fell 4.1 percent.

On a month-on-month basis, industrial production decreased 1.0 percent in May, following a 0.7 percent fall in the preceding month.

Manufacturing output decreased 3.0 percent in May, following a 1.6 percent fall in the prior month.

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