What Went WRONG? Norway's STRUGGLING Businesses!

Norway's economy unexpectedly shrank by 0.2% in August 2023, defying market expectations of stagnation and reversing a 0.2% growth in July. The contraction, the first after three months of expansion, was primarily due to reduced activity in wholesale and retail trade, along with declines in administrative and support services and agriculture, forestry, and fishing. Household consumption, especially car purchases, also declined. However, a slight uptick in the rolling three-month growth from March to May to June to August offers a glimmer of hope for potential recovery. Monitoring the situation in the coming months is crucial.

#norway #economy #collapse

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