Macro - Country Economic Forecasts - Norway

Macro - Country Economic Forecasts - Norway



We kept our 2024 mainland GDP growth forecast for Norway at 0.6%, but lowered our 2025 forecast by 0.3ppts to 1.3%. We are increasingly less sanguine about the pickup in growth next year due to Norges Bank's highly restrictive policy stance. Several factors remain in place for growth to accelerate, but the recovery will be less frontloaded than we expected months ago.


Norway: Rate cuts won't herald a quick rebound
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy and politics

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