The record low interest rate has not, until now, provided Norwegian industry with any really big pay offs, but all the same, the industry leaders are starting to believe again.
Even though the Norwegian central bank has cut the interest rate from 7 per cent to 2.5 per cent in the last year, Norwegian industry is still working hard to keep its head above water. The number of orders is low, and industry still reports a fall in productivity, utilisation of capital, and employment.
According to the latest report from Statistisk sentralbryе, the national survey agency, the utilisation of capital was as low as 78 per cent in the third quarter.
However, the concensus is that change may arrive as soon as in the next quarter.
