Norway: GDP report declined 0.2% m/m for August - TDS

Analysts at TD Securities note that the Norway’s monthly GDP report showed a decline of 0.2% m/m in Mainland GDP for August, close to their forecast of -0.1% m/m, but much weaker than the consensus.

Key Quotes

“It follows an upward-revised 0.3% m/m gain in July. The decline was driven primarily by the agriculture and fisheries sectors, which were a combined 0.5ppt drag on growth in the month, reversing July gains. Today's report leaves the 3m/m growth rate for Mainland GDP at 0.6% to August, and we expect growth to remain strong through the remainder of 2018.”