Norway: Positive macro data continued to stream in - TDS

Analysts at TD Securities note that positive macro data continued to stream in today in Norway after yesterday's decent CPI report, with the inaugural monthly GDP release showing a healthy +0.2% m/m for July Mainland GDP.

Key Quotes

“On a three-month basis, Mainland GDP growth is up 0.8% relative to the prior 3 months, marking an acceleration from Q2 growth of 0.5% q/q.”

“Strong service production drove growth, as did investment. Oil & shipping activity (which is not included in the Mainland GDP figure) fell 3% m/m, leaving headline GDP growth at -0.2% m/m in July.”

“The Norges Bank's Regional Survey was also released today, and pointed to continued momentum in the Norwegian economy, with the output for the next six months largely unchanged at 1.46 (previous: 1.47). This week's healthy macro data will give the Norges Bank everything it needs to hike rates next Thursday.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.