Regional Network: Higher output growth
Norges Bank's Regional Network contacts report that output growth over the past three months was moderate. Growth is a little stronger than in the preceding period, and contacts expect some pick-up in output growth over the next half-year.
Contacts as a whole report that output growth is a little stronger than in November. Growth has been slightly higher than enterprises expected in the previous survey. Contacts report solid growth in public sector demand and improved export markets. A number of enterprises also refer to higher demand from the oil sector. Contacts as a whole expect somewhat stronger output growth over the next six months.
The share of enterprises reporting capacity constraints has increased, but the share of contacts reporting labour shortages remains small. Contacts report a moderate increase in employment, and they expect employment growth to remain moderate over the next three months. Contacts as a whole estimate annual wage growth of 2.7 percent for 2018.
Information in this survey was provided by 338 Regional Network contacts. The interviews were primarily conducted in January.
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