Worrying news from Norway yesterday as its consumer confidence to a 24-year low. Norway’s economy grew by only 0.1% in the fourth quarter as the plunge in oil prices took hold, with consumer spending just holding up in the midst of the falling crude prices. Senior economists at Nordea Bank have stated that the Norwegian economy is currently at risk from recession but despite this the Norwegian krone actually gained on most world currencies today – gains which saw the Krone reach a nine-month high against sterling!
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