National accounts and business cycles: National accounts

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  • First price increase in PPI since December

    Increasing prices within energy goods lead to a 1.2 per cent rise in the overall PPI from July to August 2020. Natural gas had the stongest influence, but higher prices on refined petroleum products and electricity were also important contributors.

  • Slight rise in mainland GDP in July

    GDP for Mainland-Norway rose 1.1 per cent in July, according to seasonally adjusted national accounts figures. Despite growth over the past three months, activity levels were still 4.7 per cent lower in July than in February.

  • Balance of income and current transfers create current account surplus

    Balance of income and current transfers were measured at almost NOK 28 billion in the 2nd quarter of 2020. Both income from- and expenditures to the Rest of the world (ROW) are reduced significantly, with the expenditure falling the most. The curr...

  • The decline in the Norwegian economy in the second quarter was the deepest ever recorded

    Seasonally adjusted figures from the national accounts show that Mainland Norway's GDP rose 3.7 per cent in June, after 2.2 per cent growth in May. The level of activity was still just under 6 per cent lower in June than in February, due to large ...

  • Unchanged PPI from June to July

    The total PPI was unchanged from June to July 2020. Price increases in refined petroleum products and crude oil evened out the downturn in other groups within energy goods and manufacturing industries.

  • Continued downturn in PPI

    The producer price index (PPI) fell in June for the sixth month in a row. The downturn came both outside and inside the energy goods.

  • Increase in Mainland GDP in May

    Mainland Norway's GDP rose 2.4 per cent from April to May, adjusted for normal seasonal fluctuations. The growth came after two months of sharp decline following the outbreak of the Corona pandemic and subsequent infection control measures. Despit...

  • Continued drop in PPI

    Heavy price falls on natural gas and refined petroleum products lead to a decrease of 2.7 percent in the producer price index for May. This comes despite a solid increase in prices on crude oil this month.

  • Mainland Norway's GDP fell 4.7 percent in April

    This follows a 6.9 per cent fall from February to March, and Mainland GDP was thus 11.3 per cent lower in April than in February. The underlying data indicates some increase in economic activity towards the end of the month.

  • Strong balance of income and current transfers

    Balance of income and current transfers were measured at almost NOK 39 billion in the 1st quarter of 2020. This is the highest ever measured in a quarter. Investment income is contributing with net income of NOK 46 billion while net current transf...

  • Mainland GDP fell slightly more in March than first projected

    Seasonally adjusted figures from the National Accounts show a 2.1 per cent decline in mainland-GDP in Q1 and 6.9 per cent from February to March. The development in March, when COVID-19 infection control measures were implemented, pulled down Q1 g...

  • Energy prices continue to drop

    Significant price reductions on most energy goods caused a further decrease in the Producer Price Index in April. Natural gas had a positive price development, but only due to a weak Norwegian krone.

  • Preliminary figures show a 6.4 per cent decline in Mainland GDP for March

    The Norwegian economy came to a halt in the second half of March 2020. Preliminary figures from the National Accounts show a 6.4 per cent fall in mainland GDP in March, adjusted for normal seasonal variations. This translates to a 1.9 per cent dec...

  • An uneasy world made its mark on PPI

    March saw the largest monthly decrease in producer price index (PPI) in over 15 years. Uncertainties relating to the corona pandemic and the petroleum markets' are the main causes of this downturn.

  • Slow growth in the mainland economy continues

    Seasonally adjusted figures from the National accounts show a 0.1 per cent growth in gross domestic product (GDP) for mainland Norway from September-November to December-February. The growth rate is thus unchanged from January. The monthly growth ...