Norway’s Economy Grows in Third Straight Quarter in 2024

Norway's economy grew for the third straight quarter this year as a rebound in purchasing power boosted consumption and a weaker currency supported exports. The Norwegian Statistics Office said in a statement issued Thursday that the GDP in the mainland, which excludes the energy industry and shipping, increased by 0.1 percent in the second quarter of this year compared to the previous quarter. It did not mention the rate of economic growth in the third quarter. Wage growth remains steady at more than 5 percent, while the Norwegian krone, at a four-year low, is helping demand for Norwegian exports abroad and the tourism sector, the statistics office said, adding that household consumption rose 1.6 percent quarter-on-quarter, driven by a strong increase in car purchases, the statistics office said. Source: Qatar News Agency