Regional Network: Continued 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.
Overall, contacts report solid output growth over the past three months. Growth is unchanged from August, and enterprises expect a slight pickup in output growth in the next six months. Network contacts point to increasing activity in the oil sector, higher public investment and digitalisation in both the private and public sector.
The share of enterprises reporting full capacity utilisation has risen since August and is now slightly higher than its historical average. The share of enterprises reporting labour shortages has also risen. Contacts report that employment growth has remained solid over the past three months, but lower growth is expected in the next three months. Overall, contacts expect annual wage growth of 2.8 percent in 2018 and 2.9 percent for 2019.
Information in this survey was provided by 330 Regional Network contacts. The interviews were primarily conducted in November.
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