Nordic economy cooling

After a period of economic expansion, growth in the Nordic countries will slacken somewhat next year, according to Sweden's Industry Association.

"The most important explanation for the strong growth this year is the general growth in the world economy," said Arvid Böhm, an association economist. "Developments abroad are also what will slow the pace next year." The association's research showed the Norway was the wealthiest Nordic country, with a gross national product per inhabitant of USD 34,100 (NOK 320,500). Norway's economy was described as unique, with a large balance-of-payments surplus from its oil income, slow growth in the industrial sector and fast growth in both public and private services.