Indicators
Norges Bank Survey Shows Activity Holding Up, Cooling Rate Bets
- Report shows expectations for continued growth through 2024
- Data may reduce likelihood of first rate cut in December
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Norwegian companies expect business activity to increase “somewhat” through the rest of the year, according to a key survey of corporate sentiment that is likely to cool bets that the country’s central bank will embark on monetary easing before year-end.
Output is projected to grow by 0.2% in the third quarter, versus an 0.3% expansion expected in June, as prospects have weakened for the construction and retail sectors, Norges Bank said on Thursday, citing its regional network contacts. With respondents from other industries seeing higher activity, the economy is forecast to keep that pace in the final quarter of the year.