Mixed Signals In Manufacturing Output

Norwegian manufacturing production rose 2.0% m/m in March (0.6% q/q), but total industrial production was offset by a 5.5% q/q drop in electricity production. These mixed signals will influence the upcoming Q1 GDP report, with electricity acting as a major drag.

Key Takeaways

• 1.Manufacturing production grew 2.0% m/m in March, leading to a 0.6% quarterly increase in Q1 2026.
• 2.Output from electricity production will significantly drag on Q1 GDP growth, declining by 5.5% q/q.
• 3.Industrial production fell 1.0% m/m in March, with Q1 growth dampened by weak gas extraction.

Table of Contents

• Manufacturing Production
• Industrial Production
• Marthe Eide

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