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Weekly Bulletin is. 36, 1996

Quarterly national accounts, 2nd quarter 1996:

Strong growth in offshore oil activities

Norway's gross domestic product (GDP) increased by NOK 10.8 billion at constant 1993 prices, or by 5 per cent from second quarter 1995 to second quarter 1996. GDP growth in the first half of the year was 5.2 per cent compared to the same period last year, according to new figures from Statistics Norway's quarterly national accounts.

About half of the increase in the GDP can be explained by the strong growth in offshore oil activities. On the mainland, GDP growth has been fuelled in particular by the private services sector.

In second quarter 1996 household spending was 3.8 per cent higher than in second quarter 1995, calculated at constant prices. Household spending on goods increased by 4.8 per cent. Most of the increase in consumer spending is attributed to the surge in new car sales. If cars are excluded, spending on goods increased by 1.7 per cent in the second quarter compared to the same quarter last year. Spending on services increased by 2.4 per cent during the same period.

New Statistics

Quarterly national accounts, 2nd quarter 1996.
National accounts statistics are published in the Weekly Bulletin of Statistics, Economic Analyses and in Official Statistics of Norway (NOS). More information: Ann Lisbet Brathaug, tel. +47 21 09 48 52, e-mail: abr@ssb.no, Pia Tønjum, tel. +47 21 09 48 34, e-mail: pet@ssb.no or Tore Halvorsen (balance of payments), tel. +47 21 09 48 48, e-mail: toh@ssb.no.

Weekly Bulletin is. 36, 1996