Goldman Sachs: 81 percent risk of recession in Norway

Supply ship from Farstad Shipping Aalesund.Supply ship from Farstad Shipping Aalesund. Photo: Halvard Alvik / NTB scanpix

The risk of an economic recession in Norway during the year is as high as 81 percent, according to the US financial giant Goldman Sachs.

Over the next two years  the risk  is estimated  to be 88 percent,, the news agency Bloomberg writes. The likelihood that Norway enters a recession in the current quarter is 50 percent.

According to Goldman Sachs, the economy  in Canada and Switzerland is at even greater risk, with the risk of recession during the year likely to be between 84 and 90 percent. While Canada is a major oil exporter, finance is an important industry in Switzerland.

Economic recession means falling gross domestic product for at least two consecutive quarters.


Source: NTB scanpix / Norway Today