MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

MNI: UK JAN-MAR MEDIAN PAY AWARDS +4.8% :XpertHR/Brightmine

Brightmine (XpertHR): Pay Deals Fall to 4.8%; Expected 5% for 2024 Overall

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Norges Bank Likely To Revise Q1 Mainland GDP Projection Higher

NORWAY
DataHomepageData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

The Norwegian monthly mainland GDP indicator was stronger than expected in January, at 0.4% M/M (vs 0.0% cons). The Norges Bank's December MPR expected a weaker -0.2% M/M, but this forecast is stale and will be updated at Thursday's March meeting.

  • The Norges Bank's -0.3% Q/Q mainland GDP expectation for Q1 2024 is expected to be revised higher somewhat, and the January data strengthens this case.
  • However, December's -0.1% M/M was revised to -0.3% M/M, tempering the January beat somewhat.
  • The monthly indicator is volatile though, and Statistics Norway notes rolling three-month growth for GDP Mainland Norway was 0.2 percent (vs 0.3%prior).
  • Wholesale and retail trade contributed the most to the January print, though household consumption fell 0.4% due to a drop in household car purchases.

134 words

To read the full story

Close

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.

The Norwegian monthly mainland GDP indicator was stronger than expected in January, at 0.4% M/M (vs 0.0% cons). The Norges Bank's December MPR expected a weaker -0.2% M/M, but this forecast is stale and will be updated at Thursday's March meeting.

  • The Norges Bank's -0.3% Q/Q mainland GDP expectation for Q1 2024 is expected to be revised higher somewhat, and the January data strengthens this case.
  • However, December's -0.1% M/M was revised to -0.3% M/M, tempering the January beat somewhat.
  • The monthly indicator is volatile though, and Statistics Norway notes rolling three-month growth for GDP Mainland Norway was 0.2 percent (vs 0.3%prior).
  • Wholesale and retail trade contributed the most to the January print, though household consumption fell 0.4% due to a drop in household car purchases.