Norway Economic Outlook
December 20, 2018The economy found its feet again in October as month-on-month growth rebounded, contrasting the decline in September, according to fresh GDP data. The improvement in October was primarily due to greater public and private consumption and fewer imports, although fixed investment and exports decreased. Moreover, separate data showed that industrial production increased in October across all sub-sectors compared to the previous month. However, quarter-on-quarter GDP growth slowed in the August-to-October period compared to July–September. Meanwhile, higher oil production appears to be buffering the public finances this year, with the fiscal surplus rising over a third year-on-year in NOK terms in January–September.
Norway Economic GrowthIncreased investment in the hydrocarbon extraction industry should boost economic growth in the new year. Moreover, the mainland economy—which excludes hydrocarbon extraction activity and related ocean transport—is expected to benefit from a tight labor market. Met the why particular Consensus Forecast panelists expect total GDP to expand 2.1% in 2019, which is down 0.1 percentage points from last month’s forecast, and 2.0% in 2020. Mainland GDP is expected to grow 2.3% in 2019, which is up 0.1 percentage points from last month’s forecast, and 1.9% in 2020.
Norway Economy Data
5 years of Norway economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Bond Yield||1.78||-0.65 %||Jan 22|
|Exchange Rate||8.60||-0.38 %||Jan 22|
|Stock Market||847||-0.08 %||Jan 22|
Start Your Free 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
January 11, 2019
Consumer prices were unchanged in December compared to the previous month, contrasting the 0.5% rise in November.
January 9, 2019
According to monthly GDP data released by Statistics Norway, total economic output fell 0.3% in November compared to the previous month in seasonally-adjusted terms, contrasting October’s revised 1.1% increase (previously reported: +0.8% month-on-month).
January 8, 2019
According to Statistics Norway, industrial production fell a seasonally-adjusted 1.5% in November compared to the previous month, contrasting the 2.3% rise in October.
December 13, 2018
In line with market analysts’ expectations, Norges Bank announced on 13 December that it was keeping the sight deposit rate unchanged at 0.75%.
December 11, 2018
According to monthly GDP data released by Statistics Norway, the total economy grew 0.8% in October over the previous month in seasonally-adjusted terms, contrasting September’s revised 0.5% contraction (previously reported: -0.6% month-on-month).