Norges Bank

Press release

Lower output growth, somewhat weaker market prospects

The contact enterprises in Norges Bank’s regional network reported that output over the past 3 months had risen at a somewhat slower pace than earlier this year. Overall, somewhat lower growth was expected over the next 6 months, although growth prospects for the various industries varied widely.

Growth was highest in the oil supplier industry and in construction, while retail trade reported low growth. Only contacts in the oil supplier industry expected higher output growth over the next 6 months. Growth was expected to slow most in the export industry.

The share of enterprises reporting capacity constraints has risen this autumn, particularly in construction and services. Overall, contacts have revised down investment plans for the next 12 months, but still expected employment growth to continue at a solid pace.

Overall, contacts expected annual wage growth of about 3¾ per cent in 2012. Manufacturing reported the lowest estimate, while the highest was reported by the service industry.

In this round, 305 regional network enterprises provided information. Interviews were mainly conducted in November.



Press telephone: +47 21 49 09 30

Published 9 December 2011 10:00