This is an archived release.
Downward revision of growth rate for GDP
The final national account for 2007 confirms historical growth in GDP Mainland Norway at 5.6 per cent in 2007, despite a downward revision of 0.5 percentage points. The preliminary national account for 2008 estimates the growth for GDP Mainland Norway at 2.2 per cent.
Also for 2008, GDP Mainland Norway is adjusted from a growth of 2.8 to 2.2 per cent. The preliminary national account shows that the gross domestic product (GDP) increased by 1.8 per cent in 2008. This is a downward adjustment of 0.3 percentage points compared to earlier published figures. GDP for 2007 shows a growth of 2.7 per cent, which is 0.4 percentage points down from earlier published figures.
The cause of the revision for 2007 can be found in the adjustment of value added for manufacturing industries. Even though the production shows increased growth and is revised up by more than 4 percentage points, intermediate consumption is adjusted even more. This has resulted in a reduction of the growth rate of value added by 2.0 percentage points to a growth of 3.3 per cent. Additionally, the growth of industries in production of other goods is adjusted down in 2007 and contributes to the downward revision of the growth rate for GDP Mainland Norway. For 2008, the change is due to a downward revision of manufacturing industries together with post and telecommunication and business services.
per cent point
per cent point
|Growth in gross domestic product (GDP)||2.7||3.1||-0.4||1.8||2.1||-0.3|
|Gross domestic produkt Mainland Norway||5.6||6.1||-0.5||2.2||2.6||-0.4|
|Petroleum activities and ocean transport||-5.0||-4.9||-0.1||0.6||0.8||-0.2|
|Mainland Norway (basic values)||4.9||4.8||0.1||2.7||3.1||-0.4|
|Manufacturing and mining||3.2||5.4||-2.2||2.3||2.9||-0.6|
|Production of other goods||5.3||7.2||-1.9||3.4||2.1||1.3|
|Final domestic use of goods and services|
|Household final consumption exp||5.6||6.1||-0.5||1.2||1.3||-0.1|
|Final consumption exp. of general government||3.0||3.4||-0.4||4.1||3.8||0.3|
|Gross fixed capital formation.||12.5||8.4||4.1||1.4||3.9||-2.5|
|Growth in employed persons and productivity|
|GDP per hours worked||-1.6||-1.2||-0.4||-1.5||-1.2||-0.3|
|Growth in prices|
|Price deflator for GDP||2.4||2.2||0.2||10.0||9.6||0.4|
|Price deflator for GDP Mainland Norway||3.3||2.8||0.5||3.2||3.5||-0.3|
|Price deflator for Houshold final consumption exp.||1.0||0.6||0.4||3.7||3.8||-0.1|
Statistic Norway's revised national accounts are available as of 24 November. Links include National Accounts :
National accounts, annual, final national accounts 2007 and preliminary national accounts 2008 , National accounts, Institutional Sector Accounts for 2007 and preliminary accounts 2008 , quarterly national accounts.
For more details see StatBank .
The statistics is now published as National accounts.