Scandinavia’s Richest Economy Stumbles as Euro Area Rebounds

Norway, western Europe’s biggest oil and gas producer and home to a $760 billion wealth fund, is struggling to spur demand just as the rest of Europe surfaces from half a decade of economic pain.

According to DNB ASA, the country’s biggest bank, Norway will be the only European nation of the 15 it tracks whose economic growth won’t accelerate next year. The biggest drag comes from consumers, who have hesitated to spend as house price gains peter out and private debt mounts.