The broad contours of SEB’s economists’ expectations for the Norwegian economy remain intact. Growth in overall GDP should accelerate to 2.1 per cent in 2012 helped by a very strong investment cycle in the oil sector. However, relative to their outlook in November last year, they have sliced their forecast for growth in mainland GDP – excluding oil/gas and shipping – to 2.4 per cent in 2012, marginally slower than in 2011, but leave the 2013 forecast at 2.9 per cent.