Norway’s mainland economy grew 0.3% in the second quarter, undershooting analyst expectations as the expansion slowed from the first three months of the year.
The quarterly increase, reported by Statistics Norway on Thursday, fell short of the 0.4% median forecast in a Reuters poll. The mainland GDP measure, which excludes volatile oil and gas production, is the primary gauge of the country’s economic performance.
The Norwegian crown held steady at 10.89 per euro shortly after the data release at 06:02 GMT. The mainland GDP figure follows a revised first-quarter expansion of 0.5%, reflecting a gradual moderation in growth momentum.
The Norwegian government’s budget framework relies on mainland GDP as a key indicator, given the volatility inherent in energy-sector output. The latest reading suggests domestic demand remains resilient but is cooling from earlier in the year.
