May 20, 2020 / 8:52 AM / 7 days ago

More than 50% of Norwegian business leaders predict declining profit -survey

OSLO, May 20 (Reuters) - More than half of all Norwegian business leaders now believe their companies will see declining profits in the next 12 months, a central bank survey showed on Wednesday.

A total of 51.6% predicted profitability would weaken, an increase of 29.9 percentage points from three months ago, while only 17.6% expect profits to rise, a decline of 13.2 percentage points.

Expectations for wage growth have also declined sharply, the survey showed. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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