Norway's general public’s domestic loan debt increased 5.5 percent year-on-year to NOK 5,932 billion in August 2019, easing from a 5.6 percent growth in the previous month and matching market consensus. This was the smallest growth in general public’s domestic loan debt since September last year, as households domestic loan went up 5.1 percent (vs 5.3 percent in July) and non-financial corporations domestic loan debt rose 5.7 percent (vs 5.8 percent in July). Also, government loan debt advanced 6.9 percent in August, slower than 7.0 percent in July. Loan Growth in Norway averaged 7.29 percent from 1986 until 2019, reaching an all time high of 24.20 percent in February of 1987 and a record low of -4.40 percent in October of 1992.
Loan Growth in Norway is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Loan Growth in Norway to stand at 5.90 in 12 months time. In the long-term, the Norway Credit Indicator is projected to trend around 7.00 percent in 2020, according to our econometric models.