The European economy was weak in 2023, but a broad-based recession was ultimately avoided. While inflation is on its way down and interest rates will eventually start to fall, 2024 won’t bring a significant pickup in growth. Economies such as Germany and Austria are in a particularly dire state given broad-based industrial weakness. By contrast, a relentless inflow of tourists will support the tourism-dependent southern European economies. The...
GDP | Reference | Last | Previous | Units | Frequency |
---|---|---|---|---|---|
Real Private Consumption | 2023 Q4 | 406,199 | 403,359 | Mil. 2021 NOK, CDASA | Quarterly |
Private Consumption | 2023 Q4 | 465,920 | 455,586 | Mil. NOK, CDASA | Quarterly |
Nominal Gross Domestic Product | 2023 Q4 | 1,285,776 | 1,236,288 | Mil. NOK, CDASA | Quarterly |
Real Investment | 2023 Q4 | 273,663 | 280,988 | Mil. 2021 NOK, CDASA | Quarterly |
Real Fixed Investment (gross fixed capital formation) | 2023 Q4 | 265,575 | 260,974 | Mil. 2021 NOK, CDASA | Quarterly |
Real Gross Domestic Product | 2023 Q4 | 1,129,013 | 1,112,148 | Mil. 2021 NOK, CDASA | Quarterly |
Nominal Fixed Investment (gross fixed capital formation) | 2023 Q4 | 311,031 | 299,492 | Mil. NOK, CDASA | Quarterly |
Government Consumption | 2023 Q4 | 494,529 | 483,510 | Mil. NOK, CDASA | Quarterly |
Real Government Consumption | 2023 Q4 | 258,309 | 255,742 | Mil. 2021 NOK, CDASA | Quarterly |
Investment | 2023 Q4 | 339,142 | 356,630 | Mil. NOK, CDASA | Quarterly |
Price | Reference | Last | Previous | Units | Frequency |
Consumer Price Index (CPI) | Feb 2024 | 133 | 132.8 | Index 2015=100, SA | Monthly |
Producer Price Index (PPI) | Feb 2024 | 108.28 | 112.12 | Index 2021=100, SA | Monthly |
Wholesale Price Index | 2016 | 100.22 | 108.93 | Index 2010 = 100 | Annual |
Labor | Reference | Last | Previous | Units | Frequency |
Unemployment | Dec 2023 | 118 | 110 | Ths. 3-mo MA, SA | Monthly |
Unemployment Rate | Dec 2023 | 3.9 | 3.7 | % 3-mo MA, SA | Monthly |
Labor Force | Dec 2023 | 2,997 | 2,991 | Ths. # 3-mo MA, SA | Monthly |
Labor Force Employment | Dec 2023 | 2,879 | 2,882 | Ths. # 3-mo MA, SA | Monthly |
Agriculture Employment | 2017 | 57,611 | 57,869 | # | Annual |
Trade | Reference | Last | Previous | Units | Frequency |
Balance of Goods | Feb 2024 | 51,796,059 | 65,264,413 | Ths. NOK, NSA | Monthly |
Imports of Goods | Feb 2024 | 77,812,115 | 81,572,381 | Ths. NOK, NSA | Monthly |
Exports of Goods | Feb 2024 | 129,608,174 | 146,836,794 | Ths. NOK, NSA | Monthly |
Real Exports of Goods and Services | 2023 Q4 | 503,874 | 487,874 | Mil. 2021 NOK, CDASA | Quarterly |
Real Imports of Goods and Services | 2023 Q4 | 339,224 | 341,761 | Mil. 2021 NOK, CDASA | Quarterly |
Real Net Exports | 2023 Q4 | 164,650 | 146,113 | Mil. 2021 NOK, CDASA | Quarterly |
Imports of Goods and Services | 2023 Q4 | 417,381 | 409,341 | Mil. NOK, CDASA | Quarterly |
Net Exports | 2023 Q4 | 158,412 | 112,142 | Mil. NOK, CDASA | Quarterly |
Exports of Goods and Services | 2023 Q4 | 575,793 | 521,483 | Mil. NOK, CDASA | Quarterly |
Current Account Balance | 2023 Q4 | 235,311 | 193,131 | Mil. NOK, NSA | Quarterly |
Government | Reference | Last | Previous | Units | Frequency |
Outstanding Public Debt | 2023 Q4 | 708,529 | 796,757 | Mil. NOK, NSA | Quarterly |
Government Revenues | 2023 Q3 | 448,244 | 765,719 | Mil. NOK, NSA | Quarterly |
Government Expenditures | 2023 Q3 | 398,217 | 469,781 | Mil. NOK, NSA | Quarterly |
Government Budget Balance | 2023 Q3 | 50,027 | 295,938 | Mil. NOK, NSA | Quarterly |
Gross External Debt | 2023 Q3 | 0 | 0 | USD, NSA | Quarterly |
Markets | Reference | Last | Previous | Units | Frequency |
Lending Rate | 15 Mar 2024 | 4.5 | 4.5 | % p.a., NSA | Business Daily |
Stock Market Index | 15 Mar 2024 | 1,499 | 1,495 | Index, NSA | Daily |
Average Long-term Government Bond | 15 Mar 2024 | 3.64 | 3.59 | % p.a., NSA | Business Daily |
Money Market Rate | Dec 2016 | 1.16 | 1.1 | % | Monthly |
Real Estate | Reference | Last | Previous | Units | Frequency |
Dwelling Stocks | 2024 | 1,599,112 | 1,592,339 | # | Annual |
Residential Housing Starts | Jan 2024 | 2,008 | 1,886 | #, NSA | Monthly |
Residential Building Completions | Jan 2024 | 2,371 | 1,842 | #, NSA | Monthly |
House Price Index | 2023 Q4 | 136.4 | 141.3 | Index 2015=100, NSA | Quarterly |
Non-residential Building Permits | 2023 Q4 | 189 | 73 | #, NSA | Quarterly |
Housing Starts | 2023 Q4 | 6,578 | 5,410 | #, NSA | Quarterly |
Building Completions | 2023 Q4 | 7,457 | 5,826 | #, NSA | Quarterly |
Non-residential Housing Starts | 2023 Q4 | 36 | 64 | #, NSA | Quarterly |
Building Permits | 2023 Q4 | 7,215 | 6,864 | #, NSA | Quarterly |
Non-residential Building Completions | 2023 Q4 | 167 | 52 | #, NSA | Quarterly |
Consumer | Reference | Last | Previous | Units | Frequency |
Retail Sales | Dec 2023 | 156 | 147.5 | Index 2015=100, NSA | Monthly |
Personal Income | 2022 | 2,471,410 | 2,421,121 | Mil. NOK, NSA | Annual |
Business | Reference | Last | Previous | Units | Frequency |
Real Change in Inventories | 2023 Q4 | 8,033 | 19,954 | Mil. 2021 NOK, CDASA | Quarterly |
Change in Inventories | 2023 Q4 | 28,042 | 57,066 | Mil. NOK, CDASA | Quarterly |
Industrial Production | Dec 2023 | 87.4 | 86.5 | Index 2005=100, SA | Monthly |
Business Confidence | 2023 Q4 | -4.9 | -2.3 | Balance of opinion, SA | Quarterly |
Capacity Utilization | 2023 Q4 | 77.8 | 78.3 | % WA, SA | Quarterly |
Demographics | Reference | Last | Previous | Units | Frequency |
Births | 2023 Q4 | 11,909 | 14,070 | #, NSA | Quarterly |
Deaths | 2023 Q4 | 11,752 | 10,209 | #, NSA | Quarterly |
Population | 2020 | 5,421,242 | 5,378,859 | # | Annual |
Net Migration | 2017 | 140,000 | # | Annual | |
Birth Rate | 2016 | 11.2 | 11.3 | # per Ths. pop. | Annual |
Death Rate | 2015 | 7.8 | 7.9 | # per Ths. pop. | Annual |