Omicron weighs on near-term growth outlook for Norway
Based on the positive carryover effects from two strong months of GDP growth in August and September, we have raised our mainland GDP forecasts for mainland Norway to 4.1% in 2021 and 4.3% in 2022. Still, we expect the spread of the Omicron coronavirus variant to impact growth towards the end of Q4 and into the start of next year as new restrictions are enacted.
What you will learn:
- High vaccination coverage should preclude the reimposition of strict restrictions, but new limits on hospitality will push back the recovery of services.
- Spending on services surpassed pre-pandemic levels as October marked the first full month without domestic restrictions on activity.
- With energy prices falling in November, the current account should start to decline to an average 10.7% of GDP over 2022.
Maintenance in Australia: 2023 Edition | Executive Summary
Australia’s maintenance market is estimated to have increased to $53.5bn in FY22, driven by road rehabilitation following flooding along the east coast of Australia. Road maintenance expenditure will continue to be supported over the near-term by Federal and State government programs. Mining maintenance spending will be buoyed by elevated commodity prices, and increased maintenance requirements on recently built LNG facilities.Find Out More
Australia: Roadblocks cleared for build-to-rent in Australia
The pipeline of build-to-rent (BTR) developments across Australia continues to swell, with our project tracking currently capturing a pipeline of circa 45,000 announced units. Around 5,900 units have broken ground in FY2023, with a further 15,000 geared to commence across FY2024 and FY2025.Find Out More