Norway: Business confidence moderates in the first quarter
April 29, 2013
In the first quarter, the seasonally adjusted industrial confidence indicator elaborated by Statistics Norway (SN) fell to 1 point from the 5 points observed in the final quarter of 2012. As a result, the index is now just barely above the 0-point threshold that separates optimistic from pessimistic territory. In addition, business confidence is 8 points below the level seen in the same month last year.
According to SN, a reduction in the total stock of orders and a build-up of inventories of finished goods were the main reasons for the decline.
FocusEconomics Consensus Forecast panellists expect gross fixed investment to reach 5.0% in 2013, which is unchanged from last month's forecasts. For 2014, panellists expect an expansion of 4.1%.