NORWEGIAN ECONOMY

Economic Survey 4/2022

Prior to the outbreak of the Covid pandemic in 2020, the Norwegian economy was close to cyclically neutral. The entire downturn following the pandemic in 2020 was recouped in the autumn of 2021, but the omicron variant and subsequent infection control measures resulted in a new fall in mainland GDP in December 2021 and January 2022. The reopening of society in late January and early February this year boosted activity sharply in March.