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Global Macro-Market Outlook

Norway: September 2010 Outlook Update

Global Economics Outlook, GDP and CPI data for Norway

  • Private consumption is slowing, but will nevertheless be the main growth driver in 2010 and 2011.
  • Weak competitiveness and frail external demand will mean sluggish growth for exports of traditional goods (i.e. excluding oil, gas, oil platforms and ships).
  • We do not expect further rate hikes in 2010 due to slow growth, low inflation and concerns about currency appreciation.

Outlook Update: Growth Is Moderating

Data was on the weak side in H1 2010 and indicators imply modest growth in the coming months. Mainland GDP (which excludes the offshore oil, gas and shipping sectors) grew by[...]

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