Norwegian economy just keeps growing Published: 07 December, 2005
THE Norwegian economy continued to chart robust growth in the last quarter, also in its non-oil sector, according to Norwegian website Aftenposten.no. Figures released by Statistics Norway on Tuesday reportedly suggest that strong demand from both investors and consumers is fuelling the growth. The countrys gross national product was up 3.8 percent by the end of the third quarter, and grew 0.8 percent month to month. The growth calculated by the statistics agency applied to Norway’s mainland economy, and therefore excluded the offshore oil and gas investments that have been boosted this year by high oil prices. The growth reportedly came as no surprise and economists didn’t think it would prompt Norway’s central bank to raise interest rates again at the bank board’s next meeting. Many economists do believe the Bank of Norway will boost rates, likely by a quarter-percentage point, at the bank board meeting in January, the website reported.
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