Mainland-Norway’s [economy][1] recovered strongly in the third quarter after the easing of infection control measures, Statistics Norway reported Tuesday.
Gross domestic product grew 5.2 percent sequentially, as expected, and in contrast to a revised 6 percent decline in the second quarter. The second quarter GDP was revised from -6.3 percent.
Infection rates increased again in October and infection control measures were tightened, head of the National Accounts at Statistics Norway, Pål Sletten, said. The economy was still far from a normal situation.
Total GDP for Norway, including oil and gas extraction, transport via pipelines and ocean transport, grew 4.6 percent, reversing a 4.7 percent decline in the second quarter.
The expenditure-side breakdown of GDP showed that household expenditure advanced 9.5 percent and government spending rose 3 percent.
Meanwhile, gross fixed capital formation declined 1.1 percent from the previous quarter.
Exports climbed 4.7 percent, while imports registered a much stronger growth of 10.3 percent in the third quarter.
In September, Mainland-Norway GDP as well as overall GDP gained 0.6 percent each from August.
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