95 percent of businesses in Western Norway reveal that they have not completed their investments as planned in the past year. The rest of 2016 does not look promising either.
This becomes apparent from the Western Index, a report compiled every quarter by Sparebanken Vest in collaboration with Response Analysis. 700 business leaders in four western counties were interviewed for the survey.
The second report this year also shows that the negative trend for the business sector in Western Norway will continue. Although the companies overall have slightly increased optimism for the future, they report a record low economic climate.
43 percent of business leaders responded that 2016 will not be a good year to make major investments. Moreover, one in five companies said that over the past year they have decided to postpone, reduce or cancel planned investments.
Source: NTB scanpix / Norway Today