Regional Network: Solid growth prospects
Norges Bank's Regional Network contacts report that output growth has been solid over the past three months. Enterprises expect output growth to remain robust over the next half year.
Contacts report overall output growth of 0.7 percent over the past three months. Output growth has edged up from May, and enterprises expect growth to remain robust over the next six months. Growth prospects are little changed from the previous survey. Network contacts point in particular to increasing activity in the oil sector, large-scale infrastructure projects and an expected rise in housing starts.
The share of enterprises reporting capacity constraints is close to its historical average and unchanged from May. The share of enterprises reporting labour shortages also shows little change. Contacts report that employment has risen by 0.4 percent over the past three months, and is expected to increase at about the same rate over the next three months. Overall, contacts expect annual wage growth of 2.8 percent in 2018.
Information in this survey was provided by 324 Regional Network contacts. The interviews were conducted in August.
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