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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NORWAY
Norway mainland GDP for August was -0.2% M/M (vs 0.0% cons; +0.2% prior). GDP including the offshore sector was also -0.2% M/M (vs +0.3% prior).
- Statistics Norway note that wholesale and retail trade contributed most to the fall. The latter is consistent with the negative monthly retail sales figures released during July and August and negative expectations from the retail sector in the Regional Network Survey.
- Consumption fell -0.2% M/M, led by a fall in goods consumption (-0.5% M/M), while services consumption increased (+0.5% M/M). Norges Bank expected this divergence in goods and services consumption in the latest Monetary Policy Report.
- In fixed prices, exports fell 2.7% M/M, led by lower crude and natural gas exports as well as exports of traditional goods. Imports fell -2.4% M/M.
- Statistics Norway note that the monthly data contains more uncertainty during Summer, and note that the 3M/3M growth rate shows mainland GDP at +0.2% 3M/3M.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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