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Norway Industrial Expansion Slows Slightly

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Norway Industrial Expansion Slows Slightly

Norway’s manufacturing sector growth remained broadly unchanged in December, defying expectations for a modest improvement, survey data from the logistics association NIMA showed on Monday.

The DNB/NIMA purchasing manager’s index for the manufacturing sector dropped to 51.9 from 52.0 in November. Economists had expected the index to climb to 52.3.

A reading above 50 signals expansion in the sector.

The underlying trend remained positive, NIMA said.

That said, the sub-indexes for new orders and production declined sharply in December. The index for employment increased.

The material has been provided by InstaForex Company – www.instaforex.com