Norges Bank

Press release

Slower rise in output

Norges Bank’s contact enterprises in the regional network report that output has risen through winter, albeit at a slower pace than in autumn 2009. Output growth is expected to pick up somewhat over the next six months.

Over the past three months, output growth has been strongest in the export industry and corporate services.  Slowest growth was reported by suppliers to the oil industry and contacts in building and construction.

For the first time since spring 2008, contacts expect investment spending to pick up over the next 12 months.

Employment has edged down over the past three months. Building and construction contacts are still planning some cuts in staff numbers, while the other private sector industries expect to keep numbers unchanged through spring.

The rise in prices has been modest over the past 12 months and a more rapid rise in prices is anticipated by a majority of contacts in the year ahead.

As in the previous round, annual wage growth in 2010 is expected to be 3½ per cent.

285 contact enterprises enterprises reported in this round. Interviews were conducted in February.


Press telephone: +47 21 49 09 30

Published 11 March 2010 14:00