New Country Reports market report from Business Monitor International: "Norway Business Forecast Report Q3 2013"
Boston, MA -- (SBWIRE) -- 07/09/2013 -- We are forecasting real GDP growth of 2.5% in 2013, down from 3.1% in 2012. The export sector in particular is likely to be subdued, due in large part to sustained weakness in the eurozone.
The Norwegian economy has enjoyed the tailwind of a debt-driven property boom over the past two decades - a fact we suspect will soon prove a serious macroeconomic weakness. Household debt and property prices appear to have reached unsustainable levels.
Norway's next parliamentary election will be held in September 2013, with Prime Minister Jens Stoltenberg's Labour Party attempting to retain its ruling coalition. At this point, the opposition coalition led by the Conservative Party looks most likely to take over the reins of government.
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