Markets Actual Q2/23 Q3/23 Q4/23 Q1/24
Currency 11.00 11.42 11.7 12 12.3
Stock Market (points) 1386.24 1335 1292 1250 1210
Government Bond 10Y (%) 3.40 3.49 3.59 3.7 3.81

Overview Actual Q2/23 Q3/23 Q4/23 Q1/24
GDP Growth Rate (%) 0.20 0.5 0.4 0.5 0.7
GDP Annual Growth Rate (%) 3.00 2.3 1.9 2 1.7
Unemployment Rate (%) 3.50 3.6 3.5 3.8 3.6
Inflation Rate (%) 6.40 4 2.8 1.7 1.8
Interest Rate (%) 3.25 3.25 3.5 3.5 3.25
Balance of Trade (NOK Million) 76100.00 120900 172400 197800 162600
Current Account (NOK Million) 361204.00 251000 277000 198200 369000
Business Confidence (points) -0.40 -12 -7 -8 -6
Manufacturing PMI (points) 47.40 52 47.8 50.2 51.5
Consumer Confidence (points) -34.40 -28 -17 -12 -14
Retail Sales MoM (%) -1.20 0.4 -0.8 -0.7 -0.2
Current Account to GDP (% of GDP) 30.30 28.8
Government Debt to GDP (% of GDP) 37.40 38
Government Budget (% of GDP) 9.10 25

GDP Actual Q2/23 Q3/23 Q4/23 Q1/24
GDP Growth Rate (%) 0.20 0.5 0.4 0.5 0.7
GDP Annual Growth Rate (%) 3.00 2.3 1.9 2 1.7
GDP Constant Prices (NOK Million) 935941.00 943994 951640 952367 951852
Gross National Product (NOK Million) 1284032.00 1339862 1567196 1429138 1305861
Gross Fixed Capital Formation (NOK Million) 248013.00 250496 249926 253340 252229
GDP from Agriculture (NOK Million) 5769.00 5945 5784 5866 5867
GDP from Construction (NOK Million) 57414.00 58457 58038 58300 58390
GDP from Manufacturing (NOK Million) 60141.00 60996 61319 61107 61163
GDP from Mining (NOK Million) 1682.00 1662 1688 1660 1711
GDP from Public Administration (NOK Million) 60284.00 60942 61091 61470 61309
GDP from Utilities (NOK Million) 6530.00 6533 6531 6627 6641
GDP (USD Billion) 482.17 550
GDP per Capita (USD) 77512.90 82300
GDP per Capita PPP (USD) 65662.17 70100
Full Year GDP Growth (%) 3.30 2.4

Labour Actual Q2/23 Q3/23 Q4/23 Q1/24
Unemployment Rate (%) 3.50 3.6 3.5 3.8 3.6
Unemployed Persons 61426.00 62800 65100 69800 71500
Labor Force Participation Rate (%) 72.80 72.8 72.7 72.3 72.4
Long Term Unemployment Rate (%) 0.60 0.7 0.6 0.9 0.7
Youth Unemployment Rate (%) 10.70 10.8 10.7 11 10.8
Labour Costs (points) 139.79 158 142 142 143
Wages in Manufacturing (points) 121.70 123 118 121 124
Wage Growth (%) 4.46 3.6 3.2 2.9 2.3
Wages (NOK/Month) 54360.00 54431 52168 53848 55610
Population (Million) 5.43 5.51

Prices Actual Q2/23 Q3/23 Q4/23 Q1/24
Inflation Rate (%) 6.40 4 2.8 1.7 1.8
Consumer Price Index CPI (points) 129.00 128 129 128 130
Harmonised Consumer Prices (points) 131.20 129 132 130 132
Core Consumer Prices (points) 124.10 123 124 125 126
Core Inflation Rate (%) 6.30 4.4 3.4 3.2 2.6
GDP Deflator (points) 140.73 154 163 145 143
Producer Prices (points) 167.10 138 190 188 170
Producer Prices Change (%) -15.30 -36 -18 -12 2.5
Food Inflation (%) 10.55 6 5 3 2.6
Core Inflation Rate MoM (%) 1.00 0.4 0.7 0.3 0.5
Inflation Rate MoM (%) 1.10 0.5 0.2 0.2 0.3
CPI Housing Utilities (points) 134.70 134 138 136 136
CPI Transportation (points) 135.40 136 136 137 137

Money Actual Q2/23 Q3/23 Q4/23 Q1/24
Interest Rate (%) 3.25 3.25 3.5 3.5 3.25
Interbank Rate (%) 3.94 3.94 4.19 4.19 3.94
Loans to Private Sector (NOK Million) 2235211.00 2169187 2192720 2218529 2249149
Deposit Interest Rate (%) 2.25 2.25 2.5 2.5 2.25
Lending Rate (%) 4.25 4.25 4.5 4.5 4.25
Loan Growth (%) 5.30 4.5 3.2 2.3 2.5
Private Debt to GDP (%) 239.24 285

Trade Actual Q2/23 Q3/23 Q4/23 Q1/24
Balance of Trade (NOK Million) 76100.00 120900 172400 197800 162600
Current Account (NOK Million) 361204.00 251000 277000 198200 369000
Imports (NOK Million) 77509.00 115100 112600 122200 112400
Exports (NOK Million) 153587.00 236000 285000 320000 275000
Crude Oil Production (BBL/D/1K) 1790.00 1790 1810 1850 1800
Current Account to GDP (% of GDP) 30.30 28.8

Government Actual Q2/23 Q3/23 Q4/23 Q1/24
Government Budget Value (NOK Million) 161996.00 169000 163000 76000 210000
Government Spending (NOK Million) 241523.00 242444 241973 245155 245629
Government Revenues (NOK Million) 643162.00 631000 552000 542000 662000
Fiscal Expenditure (NOK Million) 481166.00 462000 389000 466000 452000
Government Debt to GDP (% of GDP) 37.40 38
Government Budget (% of GDP) 9.10 25
Government Spending to GDP (% of GDP) 49.20 49.1

Business Actual Q2/23 Q3/23 Q4/23 Q1/24
Business Confidence (points) -0.40 -12 -7 -8 -6
Manufacturing PMI (points) 47.40 52 47.8 50.2 51.5
Industrial Production (%) -5.40 -2.6 -1.4 -2.2 -0.6
Industrial Production Mom (%) 2.10 0.5 -0.6 0.4 -0.3
Manufacturing Production (%) -0.30 -3.2 -1.8 -2.8 -0.7
Manufacturing Production MoM (%) -0.40 0.4 -0.7 0.5 -0.4
Leading Economic Index (%) 0.50 0.3 -0.2 0.3 0.2

Consumer Actual Q2/23 Q3/23 Q4/23 Q1/24
Consumer Confidence (points) -34.40 -28 -17 -12 -14
Retail Sales MoM (%) -1.20 0.4 -0.8 -0.7 -0.2
Retail Sales YoY (%) -6.40 -4.4 -3.8 -2.8 -1.2
Consumer Spending (NOK Million) 417228.00 425719 425913 448615 424321
Disposable Personal Income (NOK Million) 338307.00 374031 356711 345073 344058
Consumer Credit (NOK Million) 4204509.00 4178012 4201328 4243394 4266325
Household Spending (%) 0.10 -2.3 -1.8 -1.2 -0.4
Gasoline Prices (USD/Liter) 2.13 2.29 2.37 2.44 2.52

Housing Actual Q2/23 Q3/23 Q4/23 Q1/24
Housing Index (points) 325.44 315 307 295 317
House Price Index MoM (%) 0.70 -0.3 -0.8 -0.6 0.3
House Price Index YoY (%) 0.40 -3.6 -4 -3.2 -1.7