Norway Dec Manufacturing Activity Growth Slows

(RTTNews) - Norway's manufacturing activity expanded in December, but at a slower pace, survey results from Fokus Bank and the Norwegian Association for Purchasing and Logistics, or NIMA, showed Tuesday.

The seasonally adjusted Purchasing Managers' Index fell to 54.4 from 55.7 in November. A reading above 50 suggests expansion in the sector. Growth in industrial activity was slightly slower than in November which was largely due to decreases in orders and production indexes.
The new orders index slipped to 54.2 from 56.3 and production to 53.5 from 56.6. At the same time, the indicator for employment fell slightly to 51.7 from 51.9. Developments in recent months suggests that manufacturing employment has bottomed out and will rise towards the end of the year, the report said.