Markets Actual Q4 Q1 Q2 Q3 2023
Currency 9.73 10.12 10.38 10.65 10.92 11.49
Stock Market (points) 1403.55 1348 1301 1256 1212 1130
Government Bond 10Y (%) 3.14 3.28 3.39 3.5 3.61 3.85

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 1.50 0.1 0.6 0.5 0.4 0.5
GDP Annual Growth Rate (%) 2.50 3.2 2.5 2.3 1.9 2
Unemployment Rate (%) 3.20 3.6 3.8 3.9 4 3.8
Inflation Rate (%) 7.50 7.2 6.5 4 2.8 1.7
Interest Rate (%) 2.50 2.75 3 3.25 3.25 3.25
Balance of Trade (NOK Million) 82005.14 204900 176500 120900 172400 197800
Current Account (NOK Million) 276801.00 215600 386000 251000 277000 198200
Current Account to GDP (% of GDP) 15.00 24.5 18.5 18.5 18.5 18.5
Government Debt to GDP (% of GDP) 43.20 41 38 38 38 38
Government Budget (% of GDP) 9.10 10 7.5 7.5 7.5 7.5
Business Confidence (points) -4.40 4 -6 -12 -7 -8
Manufacturing PMI (points) 51.20 48 46.5 48.3 47.8 50.2
Consumer Confidence (points) -38.00 -22 -12 -18 -10 -8
Retail Sales MoM (%) -0.30 -1.2 -0.6 0.4 -0.8 -0.7
Corporate Tax Rate (%) 22.00 22 22 22 22 22
Personal Income Tax Rate (%) 38.20 38.2 38.2 38.2 38.2 38.2

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 1.50 0.1 0.6 0.5 0.4 0.5
GDP Annual Growth Rate (%) 2.50 3.2 2.5 2.3 1.9 2
GDP (USD Billion) 482.44 520 550 550 550 550
GDP Constant Prices (NOK Million) 937065.00 947301 934085 944100 954869 966247
Gross National Product (NOK Million) 1552142.00 1300006 1368420 1356936 1581633 1326006
Gross Fixed Capital Formation (NOK Million) 245884.00 243726 250387 250486 250556 248601
GDP per Capita (USD) 77544.03 79100 82300 82300 82300 82300
GDP per Capita PPP (USD) 65688.55 67800 70100 70100 70100 70100
Full Year GDP Growth (%) 3.90 3.2 0.9 0.9 0.9 0.9
GDP from Agriculture (NOK Million) 6048.00 5652 5997 5935 6163 5765
GDP from Construction (NOK Million) 56889.00 57758 58707 58418 57970 58913
GDP from Manufacturing (NOK Million) 60814.00 61532 61770 61357 61969 62763
GDP from Mining (NOK Million) 1656.00 1699 1729 1664 1687 1733
GDP from Public Administration (NOK Million) 59850.00 61730 60529 60707 60987 62965
GDP from Utilities (NOK Million) 6417.00 6172 6210 6257 6539 6296

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 3.20 3.6 3.8 3.9 4 3.8
Unemployed Persons 58375.00 59000 65100 69800 72600 75500
Labor Force Participation Rate (%) 72.90 72.5 72.6 72.8 72.7 72.3
Labour Costs (points) 152.89 135 135 138 159 140
Wage Growth (%) 3.83 3.4 3.8 4 3.7 3.6
Wages in Manufacturing (points) 113.90 116 121 123 118 120
Population (Million) 5.43 5.46 5.51 5.51 5.51 5.51
Retirement Age Women 62.00 62 62 62 62 62
Retirement Age Men 62.00 62 62 62 62 62
Wages (NOK/Month) 52540.00 50114 52083 54163 54642 53958

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 7.50 7.2 6.5 4 2.8 1.7
Consumer Price Index CPI (points) 126.00 127 128 128 129 130
Harmonised Consumer Prices (points) 128.40 129 129 129 132 131
Core Consumer Prices (points) 120.60 119 120 122 124 123
Core Inflation Rate (%) 5.90 4 3.6 3.8 3.4 3.2
Producer Prices (points) 193.80 252 276 269 274 274
Producer Prices Change (%) 19.80 40 30 25 18 8.5
Food Inflation (%) 13.06 11 8 5 5 3
Inflation Rate MoM (%) 0.30 0.7 0.3 0.5 0.2 0.3
CPI Housing Utilities (points) 134.70 140 135 134 138 143
CPI Transportation (points) 129.70 130 131 131 132 132

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 2.50 2.75 3 3.25 3.25 3.25
Interbank Rate (%) 3.55 3.8 4.05 4.3 4.3 4.3
Deposit Interest Rate (%) 1.50 1.75 2 2.25 2.25 2.25
Lending Rate (%) 3.50 3.75 4 4.25 4.25 4.25
Loan Growth (%) 5.20 4.5 3.8 3.2 2.5 2.3
Private Debt to GDP (%) 287.54 285 291 291 291 291

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (NOK Million) 82005.14 204900 176500 120900 172400 197800
Current Account (NOK Million) 276801.00 215600 386000 251000 277000 198200
Current Account to GDP (% of GDP) 15.00 24.5 18.5 18.5 18.5 18.5
Imports (NOK Million) 91225.60 97100 101500 115100 112600 122200
Exports (NOK Million) 173230.75 302000 278000 236000 285000 320000
Crude Oil Production (BBL/D/1K) 1664.00 1780 1800 1790 1810 1850

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 43.20 41 38 38 38 38
Government Budget (% of GDP) 9.10 10 7.5 7.5 7.5 7.5
Government Budget Value (NOK Million) 343418.00 93000 105000 189000 13000 76000
Government Spending (NOK Million) 236532.00 214600 242410 242164 241026 253853
Government Spending to GDP (% of GDP) 49.20 51 54 54 54 54
Government Revenues (NOK Million) 718838.00 515000 554000 651000 402000 542000
Fiscal Expenditure (NOK Million) 375420.00 422000 449000 462000 389000 466000

Taxes Actual Q4 Q1 Q2 Q3 2023
Corporate Tax Rate (%) 22.00 22 22 22 22 22
Personal Income Tax Rate (%) 38.20 38.2 38.2 38.2 38.2 38.2
Sales Tax Rate (%) 25.00 25 25 25 25 25
Social Security Rate (%) 22.10 22.1 22.1 22.1 22.1 22.1
Social Security Rate For Companies (%) 14.10 14.1 14.1 14.1 14.1 14.1
Social Security Rate For Employees (%) 8.00 8 8 8 8 8

Business Actual Q4 Q1 Q2 Q3 2023
Business Confidence (points) -4.40 4 -6 -12 -7 -8
Manufacturing PMI (points) 51.20 48 46.5 48.3 47.8 50.2
Industrial Production (%) 0.90 0.8 -0.3 -2.6 -1.4 -2.2
Industrial Production Mom (%) -2.40 0.6 -0.7 0.5 -0.6 0.4
Manufacturing Production (%) 0.10 0.6 -0.6 -3.2 -1.8 -2.8
Leading Economic Index (%) 0.40 -0.3 -1.2 -0.4 0.2 0.5

Consumer Actual Q4 Q1 Q2 Q3 2023
Consumer Confidence (points) -38.00 -22 -12 -18 -10 -8
Retail Sales MoM (%) -0.30 -1.2 -0.6 0.4 -0.8 -0.7
Retail Sales YoY (%) -5.00 -4 -6.2 -4.4 -3.8 -2.8
Consumer Spending (NOK Million) 422949.00 437389 416182 430703 430985 446137
Disposable Personal Income (NOK Million) 367073.00 426707 381292 375516 374047 435241
Personal Savings (%) 8.20 7.5 7.8 7.2 6.9 6.6
Consumer Credit (NOK Million) 4134003.00 4121669 4125494 4175233 4198875 4204102
Household Spending (%) -6.00 -6.4 -4.4 -2.3 -1.8 -1.2
Gasoline Prices (USD/Liter) 2.20 2.34 2.43 2.52 2.61 2.81

Housing Actual Q4 Q1 Q2 Q3 2023
Housing Index (points) 314.25 322 338 341 329 330
House Price Index MoM (%) -0.80 -0.4 -0.6 -0.3 -0.8 -0.6
House Price Index YoY (%) 2.80 6.2 4.8 4.5 2.8 1.1