OSLO, May 16 (Reuters) - The Norwegian mainland economy grew in line with expectations in the first quarter of 2024, Statistics Norway (SSB) data showed on Thursday.
The January-March period saw a rise in mainland GDP of 0.2% compared with the October-December period, as expected by economists polled by Reuters.
"This is lower than the usual growth in the Norwegian economy," SSB said in a statement.
"During the last year, price and interest rate increases have led to weak development in household consumption, a fall in investments in dwellings, and a slowdown in the Norwegian economy," it added.
Mainland GDP, which excludes the often volatile impact of Norway's oil and gas production, is the most commonly watched measure of how the Norwegian economy is performing. (Reporting by Terje Solsvik, editing by Louise Rasmussen)
