Last year demand from the state and municipalities, high petroleum investments and growth in mainland exports boosted the mainland economy. A decline in investments in housing and commercial buildings, as well as subdued growth in private consumption, pulled in the opposite direction. The prospects for the current year indicate that a higher real wage level, lower interest rates and further growth in public demand will boost activity in the economy somewhat. The Krone is still weak after falling somewhat throughout 2024 but stabilized towards the end of the year and strengthened slightly into 2025, where a relatively stable Krone exchange rate is expected for the time to come.

In Møre og Romsdal, production growth in primary industries is expected to be moderate this year and next year. Manufacturing production may develop somewhat stronger this year than last year, and moderately better than the national average given the industrial structure. Production in construction is expected to decline slightly this year, but expected increased housing investments and decreasing interest rates may increase production next year. Production in market-oriented services is still expected to increase slightly, and somewhat stronger than last year, while production in public administration is still expected to increase, becoming slightly lower this year than last year, but somewhat stronger again next year. The projections also show production growth in industries such as electricity production. Growth in gross product is expected for all industries in Møre og Romsdal this year and next year, and slightly stronger than in the last two years, much like in the rest of the country. Møre og Romsdal had an increase in total employment in 2024, with increased employment in primary industries, manufacturing, market-oriented and public services, but also in services related to oil and gas extraction. The projections indicate employment growth in 2025 as last year, with continued estimated employment growth in, e.g. primary industries, manufacturing and market-oriented and public services. Employment growth in Møre og Romsdal is expected to be slightly more moderate next year. Overall, production is estimated to increase more than employ­ment, which may indicate a gradual increase in productivity.

Preliminary figures show a continued clear increase in the population of Møre og Romsdal in 2024, albeit somewhat lower than in 2022 and 2023. This is still due to large refugee flows from Ukraine, while a birth surplus and relatively low domestic net outmigration also contribute slightly. There was growth in the number of people of working age in the county in 2024, and the estimates for the current year show a further increase, but slightly lower than last year. More immigrants contribute to growth in younger and middle-aged people of working age, where there was a decline until 2022. Increased aging contributes to dampening labor force participation somewhat. However, increased educational levels in the population and continued growth in employment lead to some increase in the labor force, which appears to increase slightly more than employment in the current year, so that a moderate increase in unemployment is expected. Estimated development in employment and labor force indicates a moderate increase in unemployment also in 2026.

The economic perspectives in Møre og Romsdal is also characterized by the fact that Norway is facing uncertain economic situations internationally. After the change of president in the USA, increased tariffs have been announced on much of what is exported to the USA. So far, tariffs of 25 percent have been introduced on steel and aluminum, as well as 25 percent tariffs on goods from Mexico and Canada and an additional 10 percent tariff on goods from China. A tariff of 25 percent has also been announced on all goods exported from the EU to the United States. In the report we have made regional impact calculations of four different scenarios for tariffs to the USA. The effects for Møre og Romsdal may be higher than for the national average due to the county's relatively large manufacturing industry.