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Financial News: Norway GDP Remains Flat In Q3

Norway GDP Remains Flat In Q3

11/12/2019 - 02:15:00 (RTTNews)

(RTTNews) - Norway's economy logged nil growth in the third quarter, data from Statistics Norway showed Tuesday.

Gross domestic product remained flat from the previous quarter, following a 0.1 percent rise in three months to August. GDP advanced 0.2 percent in the second quarter. At the same time, the Mainland Norway registered a steady sequential growth of 0.7 percent in the third quarter.

Data showed that household consumption grew 0.4 percent. Excluding car sales, consumption of goods gained 0.7 percent.

Government expenditure increased 0.9 percent and gross fixed capital formation advanced 4.8 percent.

Exports declined 2.2 percent as routine maintenance work weighed on shipment of natural gas shipments. Meanwhile, imports grew 1.2 percent in the third quarter driven by services.

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