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UPDATE 1-Norway labour unions see 2.5 pct wage growth in 2017 -survey
May 24, 2017 / 9:42 AM / 6 months ago

UPDATE 1-Norway labour unions see 2.5 pct wage growth in 2017 -survey

(Updates with more)

OSLO, May 24 (Reuters) - Norway’s labour unions and employers’ organisations expect 2.5 percent wage growth in 2017, a quarterly survey commissioned by the country’s central bank showed on Wednesday.

In February labour unions had expected 2.7 percent, while business lobbyists gave an estimate of 2.3 percent.

For next year, unions expected 2.9 percent wage growth, while employers’ organisations expected 2.7 percent.

Centralised wage negotiations in manufacturing industries have so far resulted in 2.4 percent pay increase for 2017, but could see some adjustment after local wage talks are conducted.

Inflation expectations among households for the next 12 months are up 0.2 percentage points to 2.9 percent, while business leaders have cut their expectations by 0.4 percentage points to 2.4 percent.

The share of business leaders who expect improved profitability the coming year is increasing, but a majority still sees no change in profitability.

The survey is carried out by analysis firm Epinion on behalf of the central bank. (Reporting by Camilla Knudsen, editing by Terje Solsvik)

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