June 6, 2014 / 8:12 AM / 3 years ago

Norway c.bank survey sees moderate but stable growth ahead

OSLO, June 6 (Reuters) - Norway’s output growth will remain moderate but stable over the next six months, even as growth in the oil sector continues to weaken, the central bank said on Friday, based on a survey of 313 companies.

“Manufacturing for the domestic market and retail trade expected that growth might edge down, while construction contacts expected somewhat higher growth ahead, led by higher public investment and increased housing construction,” the bank said in a statement.

“Contacts expected that growth impulses from the Norwegian petroleum industry will continue to weaken.”

The survey is the central bank’s key sentiment survey. It is expected to form the backbone of the bank’s next rate decision on June 19.

Although the bank is expected to keep rates on hold, some analysts expect it to make slight adjustments to its interest rate forecasts. (Reporting by Balazs Koranyi, editing by Gwladys Fouche)

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