After eighteen years of moderate growth, gross domestic product (GDP) for mainland Norway with the full 1.2 per cent in Q2. Power pulled up growth by almost 0.3 percentage points, type SSB.
The expectation was 0.7 percent, according to TDN Finans.
Overall, GDP rose 0.9 percent.
“Overall industrial production rose 2.5 percent in Q2, following a clear growth in the previous quarter. Almost half of the increase came from the food industry, which had a small production decline over the previous two quarters. Otherwise, shipbuilding and machinery and metal products had good growth throughout the 1st half, “said SSB.
Total household consumption increased by 0.8 per cent in the 2nd quarter, following growth of 0 , 9 percent in the previous quarter.
Consumption of goods increased by 1.0 percent. There was growth in most product groups, especially food and clothing pushed up. Decrease in the purchase of vehicles subdued growth. This decline, however, came after strong growth in car purchases in Q1.
Increased employment growth
After adjusting for seasonal fluctuations, the number of employed persons by 0.3 percent in Q2 , which is equivalent to over 7 000. This is a slightly stronger growth than in the previous quarter. Growth in hours worked is estimated at 0.6 percent.
In conjunction with the release of figures for Q2 2014 Q1 also revised. Picture of GDP for mainland Norway and is unchanged.
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