Norway Infrastructure Report - Business Monitor International - Industry Reports

Norway Infrastructure Report

Norway Infrastructure Report - Business Monitor International - Industry Reports
Norway Infrastructure Report
Published Aug 27, 2016
36 pages — Published Aug 27, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Will economic restructuring benefit infrastructure? In theory it should and there are plenty of large-scale projects already in the pipeline, supported by announcements such as the government s NOK---bn (USD--bn) investment over -- years into transport infrastructure. ...The infrastructure sector will be a key beneficiary, with higher spending part of the road to diversification and long-term economic growth, including NOK-.-bn on roads and a proposal for a NOK--bn contribution to the national infrastructure fund. Furthermore, as we had noted (see Five Factors Constraining Consumption , - May ----), public spending will need to pick up the considerable slack left from constrained private consumption, which is being driven by a weak labour market, a weak currency, weak sentiment, tighter credit conditions and household financial constraints. Public spending will contribute -.- percentage points (pp) to headline real GDP growth on average in -------, up from -.-pp in -------. The ---- budget is expansionary and we expect more of the same in ----, particularly given national elections that year. Although the sovereign wealth fund (the Government Pension Fund Global, or GPFG) has suffered drawdowns recently due to weak oil prices, the fund still holds over USD---bn (equivalent to more than double Norwegian GDP) in rainy day

...This transformation, ultimately, should be a boon to an industry highly susceptible to slowing investment in the hydrocarbons sector. The current growth levels are healthy for a mature economy experiencing such economic headwinds. ...Firstly, the housing market is overheating, with house prices showing little sign of easing, while sentiment among constructors grows. Secondly, and most importantly, the government, with substantial spending power, including an USD---bn sovereign wealth fund at its disposal, has been able to maintain and even increase investment in major projects, including the USD-.-bn Follo Rail tunnel awarding several contracts in ----. Despite the healthy growth of ---------, a combination of strained economic activity, weak fixed investment and a transitioning economy will restrain long-term sector growth potential. ...Despite the healthy growth of ---------, a combination of strained economic activity, weak fixed investment and a transitioning economy will restrain long-term sector growth potential. Nevertheless, the project pipeline is strong, particularly in transport infrastructure, supported by long-term government investment and a desire for public-private partnerships (PPPs).

...BMI View: Norway s construction sector is supported by a solid major project pipeline, government commitment to infrastructure spending and a strong investment environment. However, a long-term picture of slowing hydrocarbons revenues and a transitioning economy will pose limitations to construction industry performance. ...

  
Source:
Document ID
2055-4656
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Norway Infrastructure Report" Aug 27, 2016. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Norway-Infrastructure-Report-2026-1591>
  
APA:
Business Monitor International - Industry Reports. (2016). Norway Infrastructure Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Norway-Infrastructure-Report-2026-1591>
  
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