June 2, 2020 / 8:01 AM / a month ago

Norway's May PMI rises to 45.9 points, in line with forecasts

    OSLO, June 2 (Reuters) - The outlook for Norway's
manufacturing industries improved slightly in May but still
remains in contraction territory, a key business survey showed
on Monday.
    The DNB Purchasing Managers' Index increased to 45.9 points
in May from a revised 43.0 points in April, logistics
association NIMA and brokers DNB Markets said. Analysts polled
by Reuters had on average expected a reading of 46.0 points.
    In March, the index hit an 11-year low amid the coronavirus
outbreak and a sharp drop in the price of crude oil, Norway's
most important export.             
    PMI readings below 50 points indicate a contraction in the
manufacturing sector of the economy.
    The DNB PMI index numbers for Norway were:

                     May       Revised April      April
PMI                 45.9           43.0           42.0
Order intake        41.0           34.7           33.4 
Production          40.8           36.8           34.5
Employment          40.6           33.9           32.9
Suppliers'
delivery time       64.9           75.8           77.4
Inventory           44.8           47.9           48.4

 (Reporting by Terje Solsvik; editing by Victoria Klesty)
  
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