Norway’s central bank the Norges Bank said in a press release yesterday, that its contact enterprises have reported somewhat stronger growth in production within the past three months and foresee improved market prospects for the next six months. There continues to be a wide disparity in between different industries with oil supplier and commercial industries reporting the highest growth.
Activity in manufacturing and exports is expected to improve according to the companies although it was more tempered during the current period while commercial services enterprises now expects somewhat slower growth rate. More contact are now reporting of capacity constrations and thus planned level of investments have ticked up. There are some shortages of labour particularly in the construction industry. The current consensus from the network contracts is for an annual wage growth rate of 4%. The enterprises were contacted in April and May.
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