Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NORWAY
Norwegian industrial production saw a sizeable monthly and annual fall in August, driven by a the "extraction and related services" component. September featured large gas maintenance outages in Norway, which meant gas production fell to its lowest level since September 2019 (see chart) - this is the driver of the weak headline print.
- The Y/Y WDA print was -20.1% Y/Y (vs -8.7% prior), with the extraction component (which holds a 75.3% weight in the index) falling -19.6% on the year. In SA monthly terms, industrial production fell -8.6% M/M (vs a revised -1.0% prior).
- The manufacturing component (which excludes extraction and related services) fell -1.3% M/M (vs +1.4% prior) and -1.5% Y/Y (vs +1.4% prior), indicating a broad-based fall across industry.
- Elsewhere the turnover index for services activities rose +5.7% Y/Y (vs +6.2% prior) and +0.7% M/M (vs -0.4% prior).
- EURNOK saw a 33 pip drop just prior to release but this immediately corrected back, with the cross now flat vs just prior (at +0.2% on the day).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok