Norway's economy weakest in 75 years in 2020 amid Covid-19, but Q4 shines

The Norwegian mainland economy contracted by 2.5 per cent last year in what was probably the weakest development since 1945, Statistics Norway (SSB) said on Friday, although the decline was far less severe than in most other European nations.

 

Norway's fourth-quarter mainland GDP, a measure which excludes oil and gas production, expanded by 1.9 per cent from the preceding three months, SSB said, outpacing a forecast of 1.2 per cent growth in a Reuters poll of 13 economists.