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Financial News: Mainland-Norway's GDP Growth Rises In Q2

Mainland-Norway's GDP Growth Rises In Q2

08/23/2018 - 08:48:00 (RTTNews)

(RTTNews) - The Mainland-Norway expanded a slightly faster pace in the second quarter, data from Statistics Norway showed Thursday.

Gross domestic product grew 0.5 percent sequentially, following first quarter's 0.4 percent expansion.

The economy had expanded 2 percent in 2017.

At the same time, overall Norway GDP growth doubled to 0.4 percent from 0.2 percent in the first quarter.

The growth in mainland GDP was mainly due to increased service production, especially retail trade, business services and information technology. Construction also made a positive contribution.

For manufacturing and mining, activity recovered after a fall in the first quarter.

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