Norway January Economic Growth Surprise Cools Rate-Cut Bets
- Mainland GDP expands 0.4% on month, above all forecasts
- Data is likely to delay expectations of rate cuts to late 2024
Norway's mainland gross domestic product increased 0.4% from December.
Photographer: Kyrre Lien/BloombergThis article is for subscribers only.
Norway’s economy grew in January at a much faster pace than anticipated, cooling pressure on policymakers to begin monetary easing as the Nordic nation weathers the fallout from a higher cost of living.
Mainland gross domestic product, which excludes the country’s offshore oil and gas industry, increased 0.4% from December, when it declined a revised 0.3%, according to data from Statistics Norway on Monday. That beat the highest estimate of economists surveyed by Bloomberg, as well as the central bank’s estimate of a 0.2% drop.