Norway: Unemployment report and results of Q3 oil investment survey released - BBH

Research Team at BBH, notes that the Norway reported June unemployment and released the results of its Q3 oil investment survey. 

Key Quotes

“The unemployment rate rose to 4.8% vs. 4.7% expected and was the highest since at least 2004.  Elsewhere, Norwegian oil and gas companies now expect investment of NOK163 bln this year, down from NOK166 bln forecast in May.  For 2017, the forecast fell to NOK151 bln from NOK153 bln in May.  The forecast cuts come despite a rebound in oil prices in August, and underscores further headwinds for the economy.”