Norwegian GDP expected down

The GDP for mainland Norway fell from the third quarter of 2008 to the first quarter of 2009 by 1.7 percent, reports Statistics Norway in their latest edition of Economic Survey, presented on Monday.

According to the survey, the activity in Norwegian economy could increase again in the second half of 2009, whereby the GDP for mainland Norway for 2009 as a whole would be expected to fall by 1.4 percent in relation to 2008.

The growth in Norwegian activity is expected to slowly increase, with the next upswing in the economy starting in 2011.

The unemployment in Norway is expected to continue to rise for the next two years. The June unemployment is 3,2 percent, an increase of 0,3 percent since December 2008, reports Statistics Norway.