Norway | Country Economic Forecast April

Norway’s economy is restrained by activity restrictions that aim to maintain 
tight control over the pandemic. However, once containment measures ease, Norway is well placed for a strong rebound, with a large savings buffer, robust goods demand, and firming oil exports supporting the recovery. We see mainland GDP growing 3.6% in 2021, up from our 3.4% forecast in March.

What you will learn about:

• Activity data for February continued to show Norway’s economy struggling
• We estimate Norwegian households built up excess savings
• Inflation dipped in March by 0.2ppts