Norway Economic Outlook
August 27, 2019
The economy is expected to gain momentum in the second quarter, as GDP data for April and May posted firm month-on-month expansions, driven mainly by strong fixed investment. Furthermore, the external sector was robust, thanks to stronger exports of goods and services. Although private consumption declined on a tough base of comparison, underlying labor market conditions were healthy as reflected by the low unemployment rate and brisk year-on-year wage growth in Q2. Less positively, a weak June reading saw industrial production decline quarter-on-quarter in Q2, driven by a sharp contraction in extraction and related services output, which was only partially offset by a rebound in manufacturing. Looking at the third quarter, growth is likely faster than regional peers, aided by the strong labor market. That said, DNB’s July manufacturing PMI fell into contractionary territory on lower demand and output.Norway Economic Growth
The economy will likely accelerate this year, as a healthy labor market and fixed investment—particularly in the petroleum sector—power domestic demand. That said, uncertainty over Brexit, volatile commodity prices and elevated household debt pose downside risks. FocusEconomics Consensus Forecast panelists see total GDP expanding 1.8% in 2019, which is unchanged from last month’s forecast, and 2.0% in 2020. In terms of mainland GDP, our panelists see growth of 2.4% in 2019, which is unchanged from last month’s projection, and 1.8% in 2020.Norway Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Norway Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.13 | -0.65 % | Sep 04 |
| Exchange Rate | 9.03 | -0.38 % | Sep 04 |
| Stock Market | 859 | -0.08 % | Sep 04 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Norway Economic News
Norway: Norges Bank keeps rates unchanged in August but expects further tightening before year-end
August 15, 2019
The executive board of Norges Bank unanimously decided to keep the sight deposit rate unchanged at 1.25% at its monetary policy meeting on 15 August.
Norway: Inflation holds steady in July at close to the Central Bank’s target
August 9, 2019
Consumer prices jumped 0.7% in July, up from June’s 0.1% increase.
Norway: Industrial production contracts in June
August 8, 2019
Industrial production declined a seasonally-adjusted 1.4% in June from the previous month, contrasting May’s 0.6% increase.
Norway: Inflation dips below the Central Bank’s target in June
July 10, 2019
Consumer prices ticked up 0.1% in June, contrasting the 0.3% decrease posted in May.
Norway: The economy expands at an accelerated pace in May
July 9, 2019
Economic output increased 0.4% in May compared to the previous month in seasonally-adjusted terms, up from April’s revised 0.3% increase (previously reported: +0.2% month-on-month).
© Copyright: 2019 | Norway Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
