Norway - Kiwango cha ukuaji wa Pato la Taifa

The Norwegian economy grew by 0.3 percent on quarter in the three months to June 2019, after showing no growth in the previous period while markets had forecast a 0.5 percent expansion. Fixed investment rebounded firmly (2.8 percent vs -2.3 percent in Q1) and household consumption growth was little-changed (0.4 percent vs 0.5 percent). In addition, government spending increased 1 percent, the same pace as in the previous period; while petroleum activities and ocean transport contracted at a softer pace (-2.3 percent vs -3.1 percent). Net external demand contributed negatively to the GDP as imports rose 0.4 percent (vs 3.3 percent in Q1) while exports fell 0.3 percent (vs 2 percent in Q1). Mainland GDP, which excludes the largely petroleum-based offshore sector, expanded 0.7 percent in the second quarter, also below market expectation of 0.8 percent.

The Norwegian economy shrank unexpectedly by 0.1 percent on quarter in the first three months of 2019, reversing an upwardly revised 0.6 percent growth in the previous period and missing market expectations of a 0.6 percent expansion. This marked the first quarterly GDP contraction since the third quarter of 2016, due to declines in both fixed investment (-1.2 percent vs 2.3 percent), and petroleum activities and ocean transport (-2.9 percent, the same as in Q4), while net external demand contributed negatively to GDP. Imports rose 2.4 percent (vs 1.8 percent in Q4), faster than an increase of 2.2 percent in exports (vs -0.7 percent in Q4). Meantime, household consumption growth was unchanged (at 0.5 percent) and government spending advanced firmly (1 percent vs 0.2 percent). Mainland GDP, which excludes the largely petroleum-based offshore sector, expanded 0.3 percent in the first quarter, much slower than a 1.1 percent growth in Q4.

The Norwegian economy advanced 0.5 percent on quarter in the three months to December 2018, slightly below the previous period's 0.6 percent growth and market consensus of 0.6 percent. Household spending rose 0.4 percent, reversing a 0.1 percent contraction in Q3; and government spending growth was unchanged at 0.1 percent. Meanwhile, fixed investment shrank 0.8 percent (vs 1.4 percent in Q3); petroleum activities and ocean transport dropped 2.7 percent (vs 2 percent in Q3); and net external demand contributed negatively to the growth as exports slumped 1.9 percent (vs 0.7 percent in Q3) and imports declined at a softer 1 percent (vs -0.4 percent in Q3). Mainland GDP, which excludes the largely petroleum-based offshore sector, expanded 0.9 percent in the fourth quarter, much faster than a 0.4 percent growth in Q3.