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Norway sees steady growth in mainland GDP

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Christian Fernsby ▼ | July 9, 2019
Norwegian manufacturing
European economies   Norwegian manufacturing

Growth in gross domestic product (GDP) for mainland Norway was 0.7 percent in March to May compared with December to February.

GDP for mainland Norway grew by 0.3 percent from April to May.

The development of the service industries was central to the growth in mainland GDP.

The three-month growth for March-May continued a stable growth of 0.8 percent.

Growth was broadly composed, with particularly large contributions by business services and technical consultancy.

Other commodity production, which consists of primary industries, electricity production and construction, also had a three-month growth of 0.8 percent.

Construction contributed positively as it has done for a longer period.

The same was true for fishing and fish farming, while electricity production dragged growth down.

For the manufacturing industry, the figures show a growth in the three-month period in line with the other areas.

The growth from April to May was also broadly composed, with particularly fishing and fish farming making significant contributions.

Household consumption increased by 0.8 percent for the period March-May compared with December-February.

The consumption of goods had a growth of 1.2 percent, where vehicles and furniture were among the consumer groups that contributed the most.

Service consumption grew by 0.8 percent for the three-month period.

Foreigners’ purchases in Norway increased by 3.2 percent in the same three-month period, while Norwegian households’ purchases abroad fell by 0.4 percent.

Public consumption was virtually unchanged during the period, with a growth of 0.1 percent.

Household consumption increased by 0.8 percent for the period March-May compared with December-February.

The consumption of goods had a growth of 1.2 percent, where vehicles and furniture were among the consumer groups that contributed the most.

Service consumption grew by 0.8 percent for the three-month period.

Foreigners’ purchases in Norway increased by 3.2 percent in the same three-month period, while Norwegian households’ purchases abroad fell by 0.4 percent.

Public consumption was virtually unchanged during the period, with a growth of 0.1 percent.

Household consumption increased by 0.8 percent for the period March-May compared with December-February.

The consumption of goods had a growth of 1.2 percent, where vehicles and furniture were among the consumer groups that contributed the most.

Service consumption grew by 0.8 percent for the three-month period.

Foreigners’ purchases in Norway increased by 3.2 percent in the same three-month period, while Norwegian households’ purchases abroad fell by 0.4 percent.

Public consumption was virtually unchanged during the period, with a growth of 0.1 percent.

With new monthly figures comes revisions.

The statistics used will not normally be subject to a revision, but seasonally adjusted series may, however, be changed.

This is a consequence of new information being incorporated into the seasonal adjustment.

As additional months are included in the data, the effect of new observations will become ever smaller.

Compared to what was published in April, GDP growth in mainland Norway has been revised upwards by 0.1 percentage points for April.


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