Bloomberg News

Norway Companies Expect Growth to Slow, Norges Bank Says

October 05, 2011

(Updates with comment from central bank in third paragraph.)

Oct. 5 (Bloomberg) -- Norwegian companies predict output growth will “slow somewhat” in the coming six months and expressed more “uncertainty,” a Norges Bank survey showed.

“Some contacts reported a more wait-and-see approach among customers and slightly weaker order intake,” the Oslo-based central bank said in its regional network report.

The bank said that output in the past three months had risen “about at the same pace as in the spring,” led by the oil supplier industry and construction, according to the survey of 311 enterprises.

Norges Bank in August postponed plans to raise its benchmark interest rate from 2.25 percent and last month signaled it may not resume tightening until 2012 as a sovereign debt crisis in Europe and slowing U.S. growth threaten exports.

--Editors: Jonas Bergman, Tasneem Brogger

To contact the reporter on this story: Stephen Treloar at streloar1@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net


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