Norway GDP September 2018

Norway

Norway: The economy wobbles in September

November 13, 2018

According to monthly GDP data released by Statistics Norway, the total economy contracted a seasonally-adjusted 0.5% in September over the previous month, down from the revised 0.2% fall in August (previously reported: -0.1% month-on-month). Mainland GDP—which excludes hydrocarbon extraction activity and related transport—fell a seasonally-adjusted 0.3% in September, matching the revised fall in August (previously reported: -0.2% mom).

The expenditure-based breakdown was mixed in September: Private consumption declined from the previous month, largely due to less spending on goods, contrasting the increase in August. Government consumption increased slightly, in contrast to a modest rise in August. Meanwhile, fixed investment surged—primarily due to higher investment spending in the mainland economy—, contrasting the small decline in August.

FocusEconomics Consensus Forecast panelists see total GDP expanding 2.1% in 2019, which is unchanged from last month’s forecast. For 2020, our panelists expect growth of 2.0%. In terms of mainland GDP, our panelists foresee growth of 2.1% in 2019, which is also unchanged from last month, and 1.9% in 2020.


Author:, Economist

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Norway GDP Monthly September 2018

Note: Month-on-month changes of seasonally adjusted GDP in %.
Source: Statistics Norway.


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