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Oil drives Norwegian manufacturing to new peak

SSB reports that Norwegian manufacturing output surged to a record high in the second quarter. 

The new surge moves Norwegian manufacturing well past levels last seen before the global financial crisis. The booming oil industry is given much of the credit for the solid growth. 

Despite of the impressive numbers, experts remain cautious "This was clearly positive... but the month on month figures can be volatile," DNB Markets economist Kjersti Haugland said.

Haugland further states that looking at the industry as a whole there is no sign of crisis, as manufacturing jumped a monthly 3.1 per cent in June.

 

To read more, please visit the 4-traders.com website or reuters.com

 

 

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