Norway Economic Outlook
January 29, 2019There were two sides to the economic narrative in the closing months on 2018. On the one hand, total economic growth in the September–November period slowed slightly in quarter-on-quarter terms compared to August–October. This was primarily due to weaker private consumption and falling exports, although increased government spending and fixed investment provided some support. On the other hand, mainland economic growth—which excludes hydrocarbon extraction activity and related transport—fared better and accelerated compared to August–October. In the political arena, meanwhile, the three-party centre-right coalition government announced on 17 January that the Christian Democratic Party would be joining its ranks, transforming it into the first non-socialist majority government since 1985. This should ease the passage of legislation through the Storting until the next elections in 2021, supporting business confidence in turn.
Norway Economic GrowthIncreased investment in the hydrocarbon industry should boost economic growth in 2019. In addition, the mainland economy is likely to benefit from a tightening labor market, and slightly lower income and corporate tax rates. Met the why particular Consensus Forecast panelists expect total GDP to expand 2.1% in 2019, which is unchanged from last month’s forecast, and 1.9% in 2020. Mainland GDP is expected to grow 2.2% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.9% in 2020.
Norway Economy Data
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|Bond Yield||1.63||-0.65 %||Feb 14|
|Exchange Rate||8.65||-0.38 %||Feb 14|
|Stock Market||853||-0.08 %||Feb 14|
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Norway Economic News
February 11, 2019
Consumer prices fell 0.5% in January compared to the previous month, contrasting the steady reading in December.
February 8, 2019
The economy grew a seasonally-adjusted 0.5% in the fourth quarter, down from 0.6% in the third quarter and hampered by the large fall in oil prices observed in the period.
February 7, 2019
According to Statistics Norway, industrial production fell a seasonally-adjusted 1.0% in December compared to the previous month, less than the 1.5% contraction in November.
January 24, 2019
In line with market analysts’ expectations, Norges Bank announced on 24 January that it was keeping the sight deposit rate unchanged at 0.75% amid high but controlled inflation and robust economic activity.
January 11, 2019
Consumer prices were unchanged in December compared to the previous month, contrasting the 0.5% rise in November.