Norges Bank Inflation Report, November 2004

Norway's central bank, Norges Bank, has published its latest Inflation Report for November 2004. The report said the effects of high oil prices on the Norwegian economy are mixed. Lower external demand will have a negative impact on some Norwegian manufacturing sectors, but at the same time domestic demand is normally stimulated by higher petroleum investment.

"Growth in the Norwegian economy has picked up markedly. It is also assumed that potential output in the Norwegian economy will show a

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