Dec 7, 2010
| Last Updated
- Private consumption will be the main source of growth in the Norwegian economy in 2011, as temporary growth drivers fade and export growth moderates.
- Fiscal policy—which was very expansionary in the recession—will become slightly contractionary in 2011. Norway’s fiscal position remains very strong due to the country’s amassed oil wealth.
- We expect the central bank to stay on hold well into 2011.
Growth Dynamics: Private Spending Is the Main Driver
Norway’s economy is becoming less reliant on temporary growth factors—i.e. inventories and fiscal stimulus—and growth will be[...]
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