Current Account in Norway
Norway - Current AccountQuarter-on-quarter economic growth appears to have decelerated in the first quarter of this year. New GDP estimates show both the total economy and mainland economy—which excludes hydrocarbon extraction activity and related transport—shrank in February from the previous month. This comes after modest growth for both economic groupings in January. Weighing on the economy was a wobbly industrial sector: Industrial output declined month-on-month in February for the fourth consecutive month. In addition, customs data reveals the merchandise trade deficit widened in Q1 over the previous quarter. More positively, the unemployment rate remained low in January, meaning household incomes likely continued to benefit from a tight labor market in Q1.
Norway - Current Account Data
|Current Account (% of GDP)||10.7||10.3||7.9||3.8||5.5|
5 years of economic forecasts for more than 30 economic indicators.
Norway Current Account Chart
Source: Statistics Norway and FocusEconomics calculations.
|Bond Yield||1.65||-0.65 %||May 13|
|Exchange Rate||8.77||-0.38 %||May 13|
|Stock Market||861||-0.08 %||May 13|
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May 13, 2019
The economy shrank 0.1% in the first quarter of 2019 in seasonally-adjusted terms, contrasting the 0.6% growth in the fourth quarter of 2018.
May 10, 2019
Consumer prices rose 0.4% in April compared to the previous month, up from 0.2% in March.
May 9, 2019
Norges Bank kept the sight deposit rate unchanged at 1.00% at its monetary policy meeting on 9 May, as overwhelmingly expected by market analysts.
May 8, 2019
Industrial production fell a seasonally-adjusted 1.4% in March compared to the previous month, less than the 1.8% fall in February, according to Statistics Norway.
April 10, 2019
Consumer prices rose 0.2% in March compared to the previous month, down from the 0.8% increase in February.