the economic situation in norway first quarter 2010
TRANSCRIPT
THE ECONOMIC SITUATION IN NORWAYFIRST QUARTER 2010
The last outlook from Finance Norway gives you information from many economic indicators.
GDP – Mainland Norway(annual change, per cent)
-2,0
-1,0
0,0
1,0
2,0
3,0
4,0
5,0
6,0
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Current account balance (in per cent of GDP)
02468101214161820
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Deviation from the fiscal rule - billion NOK(more(+),less(-) than 4 percent rule)
-20
-10
0
10
20
30
40
50
2002 2003 2004 2005 2006 2007 2008 2009 2010
Monetary policy rates, per cent
Source: Reuters EcoWin
99 00 01 02 03 04 05 06 07 08 09
0
1
2
3
4
5
6
7
8
0
1
2
3
4
5
6
7
8
Norway
UK
USA
Euro
Sweden
Labour market indicators
Employment, Total, SA Norway, Unemployment, Rate, Total
Source: Reuters EcoWin
90 92 94 96 98 00 02 04 06 08
1,5
2,0
2,5
3,0
3,5
4,0
4,5
5,0
5,5
6,0
6,5
mill
ion
s
1,8
1,9
2,0
2,1
2,2
2,3
2,4
2,5
2,6
Employment millions(left scale)
Unemployment-percent
Building work started (1000 m2, monthly, trend)
Housing Starts, Total, m2 Buildings Started, Non-residential, m2
Source: Reuters EcoWin
84 86 88 90 92 94 96 98 00 02 04 06 08 10
tho
us
an
ds
100
150
200
250
300
350
400
450
500
Sq
ua
re m
etr
e (
tho
us
an
ds
)
100
150
200
250
300
350
400
450
500
Non-residentalResidentalincl. holiday houses etc.
Housing
Non-residental
Housing market
ar 12 months
Source: Reuters EcoWin
02 03 04 05 06 07 08 09
Per
cen
t
-10
-7
-4
-1
2
5
8
11
14
17
20
NO
K
10000
12000
14000
16000
18000
20000
22000
24000
26000
28000
30000
32000
34000
Price change per cent last 12 m. (right)
Price per m2 (left)
Domestic credit (C2) (12-month change in percent)
Source: Reuters EcoWin
99 00 01 02 03 04 05 06 07 08 09
Pe
rce
nt
-2,5
0,0
2,5
5,0
7,5
10,0
12,5
15,0
17,5
20,0
22,5
Domesticcredit (C2)
Households
Non-financialenterprises
TWI - Trade-weighted exchange rate (1990=100)
trend
Source: Reuters EcoWin
00 01 02 03 04 05 06 07 08 09
90
92
94
96
98
100
102
104
106
108
110
112
90
92
94
96
98
100
102
104
106
108
110
112
Trend
Consumer prices(change per cent last 12 months)
Norway, Consumer Prices, By Commodity, All Items, Total, Chg Y/Y
Source: Reuters EcoWin
00 01 02 03 04 05 06 07 08 09
-1
0
1
2
3
4
5
6
-1
0
1
2
3
4
5
6
Importvarer
Consumer prices
excl. taxes and energy prices
Consumer prices
Consumerprices
Inflation target 2,5 per cent