Norway companies see weaker outlook, central bank survey shows

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FILE PHOTO: A view of Norway’s central bank building in Oslo

OSLO (Reuters) – Norwegian companies see a further deterioration in their outlook for the next six months, a central bank survey showed on Tuesday.

“Looking ahead, contacts expect lower activity owing to rapidly rising prices and costs, higher interest rates and a decline in new public sector orders,” the central bank said in a statement.

“A far smaller share of enterprises now report capacity constraints, and the number of enterprises reporting difficulties in recruiting qualified labour has fallen,” it added.

The quarterly survey provides key input for monetary policy. The central bank has said it would most likely continue to raise rates later this month.

Norges Bank, which since September of last year has raised rates seven times to 2.5%, will announce its next monetary policy decision on Dec. 15.

(Reporting by Terje Solsvik, editing by Stine Jacobsen)

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