Advisories decline from Oslo Aker Brygge – Aftenposten

Advisories decline from Oslo Aker Brygge – Aftenposten

– Europe’s economy still reeling. What does Governor Mario Draghi to turn the situation?

– Last week, he convinced the majority of the European Central Bank if it was necessary to pouring money into the economy. There is a more drastic measure than before, and are going to be that which has the greatest impact on the economy forward.

– Why is this so important?

– Europe needs out of the bad trend as the second quarter indicated, and I think they are now. The Governor came late, but good. Aside from that, the prices of food and electricity in Europe has fallen, inflation is not particularly low. But the economy is obviously not fit. These measures will probably improve access to loans for businesses. At the long-term interest rates have risen, an indication that more think this will work.

– And how are you with Norway?

– From Rogaland, around the coast and into Aker Brygge, we noticed a clear decline in oil companies’ investments, after years of recovery. Oil companies announced last week lower estimate for investment next year than most expected. We must expect a significant decline on the Norwegian shelf, probably over 10 percent.

– It is perhaps businesses and jobs to highlight?

– Yes, even now are there reports of layoffs and downsizing in companies, and more will come. NHO’s business barometer, which was published this week, shows that it is inferior in companies supplying the oil sector. Companies not related to the oil, however, looks brighter at the situation now than three months ago.

– Are we talking about a sudden stop in the Norwegian economy

– No. There is only a moderate decline after years of recovery. We have been accustomed to large fluctuations in the oil sector, so this is nothing new. I’m surprised it has not happened before. I believe in a soft landing. We have been accustomed to be special and to have much higher growth than other countries. The period is probably behind us. But do not forget that we have a far better position than the rest of Europe, with an unemployment rate of 3 percent. In Europe, unemployment is over 11 percent.

– What does this decline mean for us consumers?

– Although many Norwegian households with large loans also have many saved a lot. We have much to go on. Overall, we expect lower growth in Norway, but I would not say that this is a serious downturn in the economy.

Published: 13.sep. 2,014 9:41 p.m.