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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
MNI (London)
NORWAY MAINLAND JAN GDP -0.2% M/M (= FCST); DEC +0.3%r M/M
- The Norwegian economy contracted by -0.2% m/m in January, after having grown by +0.3% m/m in December.
- Yet this decline was largely auto-based, driving the marked fall in wholesale and retail trade, which contributed -0.3pp to headline GDP in January.
- Auto sales slumped on the back of new taxation of electric vehicles in 2023. This underpinned the -11.5% m/m fall in household consumption recorded, which rose +0.1% m/m when excluding car purchases.
- Head of National Accounts, Pål Sletten highlighted that "the underlying developments in the mainland economy appear to be positive, but somewhat weak" in January, as both the (non-retail) service and manufacturing sectors grew.
- As this is in line with expectations it shouldn't impact the Norges Bank decision on March 23.
Source: Statistics Norway
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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