NORWEGIAN ECONOMY

Economic Survey 2/2022

Almost the entire decline in economic activity ­during the pandemic was recouped in 2021. In December last year and January this year infection control measures in connection with the omicron variant of the coronavirus led to a fall in mainland GDP, but no more than 1.5 per cent for the two months combined. The reopening of society in late January and early February caused activity to pick up again, and in March mainland GDP was only slightly lower than what we regard as a trend level for the economy.