Public Debt in Norway
Norway - Public DebtThe economy shrank at the fastest pace since Q3 2010 in the first quarter, as a preliminary GDP reading projected an unprecedented contraction in March. Containment measures weighed heavily on domestic demand in the quarterâ€”private consumption was estimated to have plunged at the steepest pace on recordâ€”while frail global demand for oil and gas weighed heavily on energy exports. The economy should remain depressed in the second quarter as the energy sector reels from Norway's first mandated cuts to crude oil production in 18 years, which is expected to begin in June. Moreover, household spending should continue to decrease as newly registered unemployed has surged in recent months. That said, the government is gradually loosening lockdown measures and roughly 90% of those newly unemployed workers are considered to be temporarily laid-off, which could spark a strong rebound as the economy reopens.
Norway - Public Debt Data
|Public Debt (% of GDP)||27.2||33.4||37.2||37.8||39.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.58||-0.65 %||Jan 01|
|Exchange Rate||8.78||-0.38 %||Jan 01|
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May 11, 2020
Consumer prices increased 0.45% in April, following March’s flat reading.
April 8, 2020
Consumer prices flat in March, following February’s 0.1% dip.
April 7, 2020
Industrial production increased a seasonally-adjusted 2.6% in February over the previous month, which was down from January’s upwardly revised 2.2% decline (previously reported: -2.3% month-on-month). February’s rise was driven by a strong rebound in the extraction and related services sector, which accounts for around 65% of industrial production in Norway.
April 7, 2020
Economic output expanded 0.6% over the prior month in February, accounting for seasonality, contrasting the 0.5% contraction in January.
March 27, 2020
On 20 March, after Norges Bank cut rates by an unprecedented 75 basis points, the krone ended the day at 12.57 per EUR, marking a record low.