FX.co ★ Norway Q3 Mainland GDP Growth Slows

Norway's mainland GDP, which excludes the petroleum-based offshore sector, grew by a modest 0.1% in the quarter ending September 2025, slightly below the anticipated 0.2% increase. This follows a downward revision of the previous quarter's growth to 0.6%, marking three consecutive quarters of expansion. This recent growth was largely spurred by heightened retail trade activity and robust operations on the Norwegian continental shelf. However, these gains were somewhat counterbalanced by downturns in fishing and aquaculture, alongside industrial shutdowns in certain areas. "Some random variation led to a stagnant Norwegian economy in the third quarter. Yet, we observe a consistent underlying growth pattern akin to the first half of the year," remarked Pål Sletten, Head of the National Accounts Section at Statistics Norway. The mainland economy's year-on-year growth reached 1.4% in Q3, up from 0.5% growth in Q2.