Increased downturn in the industry

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The purchasing index shows that the level of activity in Norwegian industry has slowed down more than expected.
The index Norwegian PMI, which is an indicator of the  activity in  theNorwegian manufacturing industries continued its decline in March,  the newspaper Dagens Næringsliv writes. The index was published by the Norwegian Association for Purchasing and Logistics (Nima) and Danske Bank  on Friday.
” The activity in the Norwegian industry continues its decline, and at a far faster pace than in February. It is particularly the output and employment index which draws the Norwegian PMI down in March, ” the statement from Nima says.
– The PMI for March declined from 48.3 to 46.8, suggesting that the decline in manufacturing activity is greater than expected from  the signals we have picked up in recent months , Svein-Egil Hoberg in Nima says.
 At the same tide, according to the union, the steepest decline happened in the third quarter last year, and the decline fall in the next two-quarters has been somewhat less. This is also consistent with the actual production figures from Statistics Norway in the same period.
– What influenced the PMI index in March most is the sharp fall in employment, but also the decline in production,  Hoberg said.
Source: NTB scanpix / Norway Today

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