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Norway's Recovery Is on Track But Inflation Surprisingly Slows

  • Mainland economy expands by 0.6 percent in fourth quarter
  • Norges Bank has signaled a rate incrase at the end of the year
Updated on

Norway’s economic recovery continued in the fourth quarter led by rising consumer spending and investments while a report showed inflation unexpectedly slowed at the start of the year.

Mainland economic growth, which excludes oil and shipping, expanded by 0.6 percent in fourth quarter, down from a revised 0.7 percent in the prior period, Statistics Norway said in a statement on Friday. That matched an average estimate in a Bloomberg survey of 10 economists. Overall, the economy shrank 0.3 percent from the prior three-month period as oil and gas exports declined.