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Macro - Country Economic Forecasts - Norway

Publisher Oxford Economics
Published May 26, 2022
Length 9 Pages
SKU # OFE17206740

Description

Macro - Country Economic Forecasts - Norway

Norwegian mainland GDP declined by 0.6% q/q in Q1. Despite strongly growth in both February and March, a low starting point from weaker activity around the turn of the year caused the contraction. With the economy back close to its November 2021 peak in March, positive carryover effects should support a GDP rebound in Q2. In H2, high inflation, renewed supply bottlenecks and rising interest rates are weighing on growth momentum. Our 2022 mainland GDP forecast has been lowered 0.4ppt to a below-consensus 3.2%. Growth will slow next year to around 2.8%.

Table of Contents

9 Pages
Norway: GDP fell in Q1 but should rebound in Q2
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy and politics

Pricing

Currency Rates
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