OSLO (dpa-AFX) - Norway's industrial output declined for the second straight month in May, data from Statistics Norway showed on Tuesday.
Industrial production dropped a seasonally adjusted 2.9 percent month-over-month in May, the same as in the previous month.
The continued decrease was largely due to a 9.2 percent contraction in the extraction and related services segment. Data showed that the manufacturing growth softened to 1.0 percent from 2.1 percent. On a positive note, mining and quarrying production rebounded sharply by 5.3 percent versus a 7.2 percent slump in April.
On an annual basis, industrial production growth eased to 13.8 percent in May from 24.0 percent in the prior month.
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