Work: Things are pointing in the right direction for Norwegian industry

Decrease in total taxes Debt trade deficitMoney. Photo: Norway Today Media

Norwegian industry has probably reached the bottom, and from here on in things will improve,  the main organization Work predicts.

– We believe, like so many others that we are at or near a recession,  chief economist Lars Haartveit said when Work held their annual economic seminar on Monday.

Positive signs of the times include oil investment falling less, while export industries and domestic tourism both benefit from a weak crown.

Moreover, the interest rates remain low, while the increase in prices for products is temporary, Haartveit says .

There will also be a better real income growth next year,  Haartveit thinks.
– Confidence in the country’s economy has soared this year, he said.

 

Source: NTB scanpix / Norway Today

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