Norway Economic Update – "Partly Grim"

The Norwegian Bureau of Statistics (SSB) released Thursday their latest update on the nations economy. According to SSB, Norway‘s economic health stabilized in the last three months of 2009, and the development has changed from “negative” to “neutral“. But the bureau states in their “Business tendency survey” that the prospects for producers of capital goods are “grim”.

“Norwegian industrial managers report a mixed development within manufacturing. Some sectors experienced an increase in demand due to higher consumption, while others suffered the consequences of a lack of new orders for ships, boats and oil platforms.”

Statistics Norway


According to the business tendency survey, the Norwegian manufacturing industry experienced a further decline in output and employment in the fourth quarter of 2009. However, the fall was not as strong as recorded in previous surveys. Improved conditions for producers of intermediate goods and consumer goods was the reason for this development. However, the recovery has not been sufficient to increase the demand for labour within these sectors, SSB writes.

The highlights are as follows:

* Expectations of improved demand for intermediate goods

* Grim prospects for producers of capital goods

* Higher production of consumer goods

Here’s a summary of the survey in English.

The Norwegian economic obstacles:

The historic economic barometer:


Reblog this post [with Zemanta]
Advertisements

0 thoughts on “Norway Economic Update – "Partly Grim"

  1. Pingback: Norway’s GDP Fall For First Time In 20 Years « Econotwist's Blog

  2. Pingback: Norway’s GDP Fall For First Time In 20 Years « Econotwist's Blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s