High inflation and surging borrowing costs in Norway have reduced households’ purchasing power, data shows Norway’s economy saw zero growth in the second quarter of this year due to soaring inflation and rising interest rates that dampened consumer demand, the country’s statistics office reported this week. Mainland gross domestic product (GDP), which excludes Norway’s offshore industry, stagnated compared to the previous quarter and remained at 0.2% following a weak performance in a number of industries, the figures showed. Construction had the largest negative impact on the country’s GDP in the second
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