Economic Outlook
Here you will find the archive of DNB Carnegie's (formerly DNB Markets) biannual forecasts "Economic Outlook".
Revision of growth estimates for 2026
We have revised our growth estimates down across the board, says Chief Economist Kjersti Haugland (Photo: DNB).
(5 May 2026) Our macroeconomists have published an update to the Economic Outlook report.
The background is a need to revise down growth estimates for 2026. This is driven by heightened geopolitical uncertainty and the energy shock currently affecting the global economy. Inflation also appears to be entrenched above target levels, while central banks are moving in different directions. The interest rate outlook is highly divergent, but the forecast for Norway still points to two rate hikes during the year, albeit possibly later than initially anticipated.
Economic Outlook
The year has started dramatically, write the macroeconomists in January 2026. They believe that the turbulence paradoxically strengthens the outlook for economic recovery going forward.
Biannual forecasts and updates
The biannual forecast "Economic Outlook" is presented by our macroeconomists in January and August respectively. Short updates may also be published throughout the year.
The full report is only available in English; the Norwegian version is an executive summary.
Economic Outlook Update May 2026 (PDF)Open the file in a new tab
Economic Outlook January 2026 (PDF)Open the file in a new tabEconomic outlook, Norwegian executive summary 01-26 (PDF)Open the file in a new tab
The report is also published on DNB Carnegie's research portal DNB Carnegie Research Portal
Economic Outlook from previous years
Disclaimer
The views expressed in reports available on this website reflect the macroeconomists' views on the various markets and conditions. Opinions in the forecasts represent the macroeconomists' current opinion – at the time the reports are prepared – and may change without notice.
The reports are prepared for informational purposes only by DNB Carnegie. The reports are the property of DNB Carnegie.
The note (the "Note") must be seen as marketing material and not as an investment recommendation within the meaning of Regulation (EU) NO 596/2014 on market abuse (Market Abuse Regulation) and associated rules, implemented in the relevant jurisdiction.