Macroeconomics
Norwegian companies waiting a little bit higher production growth the next half year.
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the Participants in Norges Bank’s regional network reported somewhat higher production in the last three months. The companies await a little bit higher production growth the next half year, informs the central Bank of a press release on Tuesday.
Nettverksindikatoren for the last three months was 0,60. In the previous survey was the indicator of 0,49 for produksjonsutviklingen the last three months leading up to august.
the Expectations for the increase in production next six months go a little bit down to 0,73 from 0,75 in the previous report.
the Scale for the indicator ranges from -5 to +5. The lowest value indicates a large fall, while the highest value indicates strong growth.
Weaker growth than expected
According to the Norges Bank shows the answers from the network that the growth has increased a little since summer, but has been somewhat weaker than businesses expected in august.
– Increased public demand and continued strong competitiveness contributes to the growth. As august is the household sector services, construction and traditional industry reporting the strongest growth. Oil suppliers sign still if the fall in production, while the other sectors have had growth, writes the central Bank of the message on Tuesday.
According to the network’s prospects changed little compared with the survey from august.
– Businesses expecting increased demand from the public sector and the private sector that is not oil-related, writes the central bank.
There are slightly more businesses reporting capacity constraints compared with august.
Companies report continued good access to labour. Contacts report that employment has increased slightly, and they expect continued weak growth for the next three months. Overall, the contacts a wage growth has been 2.4 per cent this year and 2.5 percent for 2017, writes the central Bank of the message.
Minor fall for oil suppliers
Norges Bank summarizes developments in the various industries as follows:
Contracts in traditional eksportindustri reporting a moderate growth in production. The growth is somewhat lower than in august, but higher than in may. Firms in the sector expecting about the same growth in the next half year.
In the hjemmemarkedsindustrien has the production increased moderately, and businesses see the small changes going forward. In the sector there are reports of a growing demand from the building and construction industry and the maritime industries that are not oil-related.
oil suppliers is still experiencing a decline in production, but the decline is less than in august. The decline was still bigger than the companies expected in august. The companies expect that the decline will be reduced further in the next six months.
In the construction, there are reports of moderate output growth, but growth has slowed somewhat from august. Residential construction and public investment contribute in the greatest degree to the growth, but there are regional differences. The companies expect that the growth will increase going forward, but the prospect is still slightly weaker than in august.
In the retail theft has the sales volume increased moderately, and firms are waiting approximately unchanged growth ahead.
Both the household sector activities and industrial activities reporting a moderate growth in the last three months, and the growth has increased from the previous survey. Demand from households is still stronger than from the business community. Both industries look for continued moderate growth the next six months.
Comprehensive examination
Norges Bank conducts its comprehensive survey on the state of the Norwegian economy among participants, the bank’s regional network. Every year participate about 1,500 business and community leaders the country over in the survey. The results are presented in four hovedrapporter each year and shows including the managers ‘ assessment of developments in the last three months and expectations for the next six months.
Nettverksundersøkelsen has previously been shown to be a very good indicator for the actual aktivitetsutviklingen in the Norwegian economy. The two previous reports have indicated that growth has been in the process of taking up again after the almost complete standstill in the beginning of the year.
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