Nordea Questions Norway's Data on Faltering Home Construction
Norway's official data showing sluggish housing construction may skew the real picture, according to analysts with Nordea Bank Abp, who cited competing evidence of a rise in housing starts.
A 'nosedive' in the number of building permits toward the end of last year isn't reflecting what's actually happening on building sites, Nordea's economists Kjetil Olsen and Sara Midtgaard said in the bank's new economic outlook published Wednesday. The data is used by Statistics Norway to calculate a housing investment estimate.
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