Norwegian companies lack workers and raw materials, new survey shows

Construction workerPhoto: Greyson Joralemon / Unsplash

A survey among Norwegian companies conducted by Norges Bank reveals high activity but a lack of workers and raw materials.

Leaders in 300 companies and organizations across Norway participated in the Norges Bank survey. 

The new survey was conducted before Russia’s invasion of Ukraine, and at the time, the companies reported high activity. They also expected stronger growth in the next six months.

However, more than half of the companies reported capacity constraints, including, among other things, a shortage of labor, a shortage of raw materials, and challenges related to logistics.

“Capacity restrictions have increased in all industries except in the retail trade,” Norges Bank stated. 

Norwegian companies have also raised their estimates for annual wage growth this year to 3.7%, compared with 3.3% in November. They expect even stronger price growth in the time ahead.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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