Norway’s central bank begins the rate hiking cycle amid strong growth outlook

Our 2021 mainland GDP growth forecast remains unchanged at 4.1%. With all domestic restrictions eased and the pandemic largely under control, the economy will rebound strongly this year.

What you will learn:

• Global supply chain disruptions weighing on manufacturing and elevated inflation hitting consumer purchasing power are headwinds, but the outlook remains broadly positive.
• Growth in 2022 should also come in at 4.1%.
• A remarkable recovery in employment this year has been accompanied by a rising participation rate, disguising the true health of the labour market in the headline unemployment figures.