Norges Bank

Press release

Somewhat higher output growth, prospects have improved

Norges Bank’s regional network contacts reported that output growth picked up somewhat this winter. Contacts expect growth to be slightly lower over the next 6 months, but are more optimistic than in the previous round.

Growth in activity was highest in the service industry, while other industries showed more moderate growth. The share of enterprises reporting capacity problems was somewhat smaller than in November. In the oil supplier industry and building and construction, increased order intake has contributed to expectations of stronger output growth beyond the coming 6 months. Contacts in the service industry expect output growth to be lower over the next 6 months.

In the past 3 months, employment rose approximately as contacts had expected in November. All industries plan a stronger rise in employment over the next 3 months.

The rise in prices over the past 12 months was reported to have been relatively moderate and is expected to pick up in all industries.

303 contact enterprises reported in this round. Interviews were conducted in January and February.


Press telephone: +47 21 49 09 30

Published 2 March 2011 10:00