Most people have increased faith in Norway’s economic future

Monthly earnings up 2.6 per cent arrangement bills VirkeMoney. Norwegian kroner.

Norwegian consumers’ confidence in the economy has been considerably strengthened over the past year. In January, for the eighth consecutive month, optimists outnumbered pessimists.

2017 has begun with a Consumer Confidence Index (CCI) rating of 5.9 points, shows a measurement from Opinion polling organization. This is an increase of 1.3 points since December 2016, and 16.1 points higher than a year ago.

Both 2015 and 2016 started with more pessimists polled than optimists, but from June last year the trend reversed after there had been a negative index for 20 consecutive months.

‘The main driver of the strengthened consumer confidence in January is our belief in an improved jobs market. There’s been a considerable fall in the index of unemployment over the past year’, said senior adviser, Henrik Høidahl, of Opinion.

In January, 35% responded that they think unemployment will be higher in a year, while 27% said they believe it will be lower. By comparison, these figures were respectively 79% and 8% a year ago.

CCI shows averages for consumers’ expectations concerning their own, and the country’s economy, unemployment and opportunities for saving over the course of the next 12 months.



Source: NTB scanpix / Norway Today