OSLO: Norway's output growth has increased in line with previous expectations but the outlook was revised down, the central bank said on Monday in a survey of enterprises that will be key to its rate decision on Thursday.
"Expectations regarding output growth ahead have been revised down somewhat from January," the bank said in a survey of 73 companies.
The phone survey, a smaller version of the bank's quarterly regional network survey, is one of the its key sentiment gauges and is expected to form the backbone of its rate decision.
The bank has already said that a rate cut in May or June is almost certain if the economy continues to weaken as predicted and the only question was the timing.
Seven of 13 analysts surveyed by Reuters saw a rate cut on Thursday after unemployment rose to a 10-year high and both consumer and business sentiment deteriorated.
Norway's growth is slowing as the offshore oil and gas sector, which accounts for a fifth of output, is expected to contract after crude prices crashed.
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