2010.11.2304:09:00UTC+00Mainland Norway GDP Growth Improves In Q3

Mainland Norway's gross domestic product grew 0.9% sequentially in the third quarter, following an increase of 0.5% in the two previous quarters, Statistics Norway said Tuesday. The growth rate matched economists' expectations.

The expansion was led by increased final consumption expenditure by households and general government as well as increased exports excluding crude oil and natural gas.

The total GDP for Norway showed a sequential fall of 1.6% in the third quarter, after recording a 0.2% drop in the prior quarter. The drop stems from a substantial slowdown in oil and gas extraction due to planned maintenance on several oil fields in the third quarter, the statistical office said.

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