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The prices that the Norwegian manufacturing industries received for their goods increased overall by 9.4 percent from May last year to May this year. Export prices continued to rise, but less than in April. For the second month in a row, the price growth was strongest on exported goods, both compared to the previous month and compared to the same month last year.

Commodity price shocks can be a key driver of business cycles in resource-rich small open economies.

In this report, we have estimated the extent to which the petroleum industry's purchases of goods and services generate direct deliveries from various industries in the Norwegian economy, as well as indirect deliveries from domestic subcontractors. We distinguish between goods and services intended for investments and those for ongoing operations (intermediate consumption) within the petroleum industry.

In the period of May 25th – May 31st the export price of fresh salmon came to NOK 76.29 per kilo, up 3.2 per cent compared to the previous seven-day period.

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