The confidence in the Norwegian economy is reaching a new all-time low, and for the third consecutive quarter, the consumers in the EU are more optimistic than Norwegians.
This is revealed in the survey on the expectations for the economy for the first quarter of 2016 by Finance Norway. The main indicator in the quarterly survey has not been lower since the two first measurements when the barometer was started during the banking and housing crisis in 1992.
The closest we get to this are two quarters in the wake of the financial crisis. In the fourth quarter of 2008 the indicator was at minus 8.5 and in the first quarter of 2009 it was at minus 8.7. In January 2016, the main indicator is at minus 16.2. The main indicator expresses the difference between optimistic and pessimistic responses of the five standard questions in the survey.
Source: NTB scanpix / Norway Today