Norway's GDP Growth Slows Down

The Central Bank of Norway‘s contact enterprises in the regional network report that output has risen through winter, albeit at a slower pace than in autumn 2009. In addition employment has edged down over the past three months.

“Slowest growth was reported by suppliers to the oil industry and contacts in building and construction.”

Norges Bank

The regional network report that output has risen through winter, albeit at a slower pace than in autumn 2009. Output growth is expected to pick up somewhat over the next six months, the Central Bank of Norway says in a press release.

“Over the past three months, output growth has been strongest in the export industry and corporate services. Slowest growth was reported by suppliers to the oil industry and contacts in building and construction,” the Central Bank writes.

For the first time since spring 2008, contacts expect investment spending to pick up over the next 12 months.

“Employment has edged down over the past three months. Building and construction contacts are still planning some cuts in staff numbers, while the other private sector industries expect to keep numbers unchanged through spring.”


The rise in prices has been modest over the past 12 months and a more rapid rise in prices is anticipated by a majority of contacts in the year ahead.

As in the previous survey, annual wage growth in 2010 is expected to be 3½ per cent.

285 contact enterprises enterprises reported in this round.

The interviews were conducted in February.

Press release.

Full report from the Central Bank of Norway’s regional network (In English).

Additional charts.

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Terra-Yara Deal In Jeopardy

Norway: A Mutated Dutch Disease

Norwegian Oil Explorer Files For Bankruptcy

Consumer Confusion Index At Record High

Evaluation Of Norwegian Monetary Policy

Wars Filling Norwegian Order Books

Norway’s GDP Fall For First Time In 20 Years

Norway Economic Update – “Partly Grim”

Fighting The Reality

European Markets Snap Shots

In Norway both stocks and NOK is down, while the rest of Europe is mostly ending the day on an upbeat because of the latest U.S. labor figures.

OSEBX:

USD/NOK:

DAX:

EUR/USD:

GOLD:

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