Norway non-oil GDP grows in Q2, exits recession

OSLO, Aug 20 (Reuters) – Norway’s non-oil economy unexpectedly grew 0.3 percent in the second quarter following two quarters of recession, raising pressure on the central bank to raise interest rates from record lows and lifting the crown.

Analysts surveyed by Reuters expected non-oil gross domestic product to shrink by 0.2 percent during the April-June period and extend a mild recession that has hit the world’s No. 5 oil exporter and western Europe’s biggest producer of natural gas.

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