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Financial News: Statistical Office Raises Norway Growth Forecasts

Statistical Office Raises Norway Growth Forecasts

12/05/2019 - 08:40:00 (RTTNews)

(RTTNews) - Statistics Norway raised the growth forecasts for Mainland Norway, which excludes the largely petroleum-based offshore sector, on Thursday. Mainland gross domestic product is now forecast to grow 2.4 percent next year, which is faster than the 2.2 percent expansion predicted in September. The growth forecast for this year was raised to 2.5 percent from 2.4 percent. "The Norwegian economy is facing a change of pace. Over the next 12 months, the cyclical upturn that began in early 2017 is likely to come to an end," the statistical office said.

"The slowdown in the international economy and the markedly lower growth in petroleum investments are contributing to the change of pace."

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