According to an NHO member survey, the war in Ukraine results in higher costs, higher sales prices, lower activity, and poorer earnings among Norwegian companies.
The car industry, in particular, reported weak results for March, linking the situation to supply chain problems in the wake of Russia’s invasion of Ukraine, the NHO wrote in a press release on Thursday.
Just over one in four of the member companies that responded to the survey report lower turnover than normal but only 2% state that turnover has halved compared with expected normal turnover.
Furthermore, Norwegian companies are less optimistic about future prospects. In the survey four weeks ago, 31% of companies answered that they expected an improvement and 14%said they expected the situation to worsen over the next six months. The shares are now 25% and 23%, respectively.
This is especially true in the construction industry, the car industry, and industrial companies.
A total of 1,475 member companies responded to the survey, which makes up around 10% of NHO’s member companies. Still, NHO notes that previous experiences have shown that the survey captures the general trends quite well.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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