Though lower crude oil prices continue to drag on the Norwegian economy, the government said it expects some form of recovery by late 2016. A publication from Statistics Norway said oil prices are expected to remain low, spelling trouble for an economy that relies heavily on oil and gas for export revenue. The government said the depressed industry should result in a reduction in investment volume by about 30 percent through a five-year period ending in 2018. The statistics office said mainland gross domestic product increased by less than 1 percent between the second quarter of 2014 and the second quarter of 2015. Unemployment, meanwhile, has increased by about 1 percent year-on-year. “The fall in demand from the […]