Norges Bank

Press release

Somewhat weaker growth and lower capacity utilisation

Contact enterprises in Norges Bank's regional network reported that output growth over the past 3 months had slowed slightly since the May survey. Growth had been weaker than envisaged by contacts in May.

Growth picked up in domestically oriented manufacturing and the export industry. Oil industry suppliers and household services reported lower growth, while the other sectors reported relatively stable growth since the previous survey.

Overall, network enterprises expected continued moderate output growth over the next 6 months.

The share of network contacts reporting capacity pressures had fallen in all sectors and contacts reported a more ample supply of labour. Employment growth over the past 3 months had slowed since the May survey. Contacts expected employment growth to slow slightly ahead.

Contacts estimated annual wage growth in 2013 at slightly above 3½ percent, with relatively small variations across sectors.

Information was provided by 317 regional network enterprises in this round. The interviews were conducted in August.

Contact:

Press telephone: +47 21 49 09 30
Email: presse@norges-bank.no

Published 13 September 2013 10:00
Published 13 September 2013 10:00