Economic activity report for the Scandinavian countries (September 2012)

Norway

• 3.5% growth in GDP for mainland Norway in 2012 and 3% in 2013

• Low unemployment

• Building and construction investment adjusted upwards to 6% growth this year and 5% next year

• House building increasing, 30,000 starts this year, and house prices increasing by 8%

• Construction investment increasing by 8% this year

Sweden

• GDP growth of 1.5% this year and 2% in 2013.

• Unemployment increasing slowly

• Building and construction investment up 0.5% this year and 1% next year

• The housing market weakened during 2011; 18,000 housing starts this year

• Construction market up 5% this year and 1% in 2013

• Weak growth in non-residential building

Denmark

• Zero growth this year, 1.5% in 2013

• Households affected by the need to reduce debt and the unstable house prices.

• A weakened Danish krone and investment by the government will help encourage growth from autumn 2012.

• Building and construction investment still at a low level.

• No improvement in the housing market 

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