Norway's consumer confidence indicator plunged to -7.6 in the second quarter of 2020, the lowest reading since the second quarter of 2016, as the restriction measures imposed to contain the coronavirus pandemic forced many non-essential businesses to close and consumers to stay at home. Households were less positive about their financial situation in the coming 12 months (15.7 vs 24.0 in Q1) while there was also a deterioration in expectations regarding the economy (-15.8 vs 0.8) and the time for make large purchases (-16.5 vs 16.8).

Consumer Confidence in Norway averaged 16.89 points from 1992 until 2020, reaching an all time high of 34.90 points in the first quarter of 1997 and a record low of -17.40 points in the third quarter of 1992. This page provides - Norway Consumer Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Finans Norge & Kantar TNS

Consumer Confidence in Norway is expected to be -12.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Norway to stand at 6.00 in 12 months time. In the long-term, the Norway Consumer Confidence is projected to trend around 5.00 points in 2021 and 1.00 points in 2022, according to our econometric models.

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Norway Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
-7.60 4.70 34.90 -17.40 1992 - 2020 points Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-08-15 05:45 AM Q3 17.1 13.9 10
2019-11-19 05:30 AM Q4 13.40 15.0 15
2020-02-11 06:30 AM Q1 14.5 14.8 7
2020-05-26 04:30 AM Q2 -7.60 4.7 -40
2020-08-13 04:30 AM Q3 -7.60 -12
2020-11-19 05:30 AM Q4 -7


News Stream
Norway Consumer Morale Weakest in 4 Years
Norway's consumer confidence indicator plunged to -7.6 in the second quarter of 2020, the lowest reading since the second quarter of 2016, as the restriction measures imposed to contain the coronavirus pandemic forced many non-essential businesses to close and consumers to stay at home. Households were less positive about their financial situation in the coming 12 months (15.7 vs 24.0 in Q1) while there was also a deterioration in expectations regarding the economy (-15.8 vs 0.8) and the time for make large purchases (-16.5 vs 16.8).
2020-05-26
Norway Consumer Morale Slightly Weaker in Q1
Norway's consumer confidence indicator fell slightly to 14.5 in the first quarter of 2020 from 14.8 in the previous month, as households were less positive about their financial situation in the coming 12 months (24.0 vs 24.6 in Q4 2019). Meanwhile, there was an improvement in expectations regarding the economy (0.8 vs -3.2) while consumers felt it was the right time for larger purchases (16.8 vs 3.5).
2020-02-11
Norway Consumer Morale Weakest in 2-1/2 Years
Norway's consumer confidence declined to 13.4 in the fourth quarter of 2019 from a downwardly revised 15.0 in the previous three-month period. It was the weakest reading since the second quarter of 2017, due to concerns about a weak Norwegian krone amid trade wars and Brexit uncertainty. Households have become less optimistic about their financial situation over the past 12 months (20.5 vs 24.8) and the country's economy over the same period (6.5 vs 18.4). In addition, expectations regarding the country's outlook over the next year turned negative (-3.2 vs 2.8) while the willingness to make large purchases fell sharply (3.5 vs 24.4). On the other hand, households believe their financial situation will improve over the next 12 months (24.6 vs 22.1) after Norges Bank announced a delay in further interest rate hikes while a very low unemployment and a secure job market supported sentiment.
2019-11-19
Norway Consumer Sentiment Highest in a Year
Norway's consumer confidence rose to 17.1 in the three months to September 2019 from an upwardly revised 13.9 in the previous period. This was the highest reading since the June quarter 2018, despite ongoing global trade dispute, unresolved Brexit, stock exchange and currency turmoil and increased interest rates. Consumers' willingness to make larger purchases strengthened strongly (24.4 vs 12.5 in Q2), while households' expectations towards the country's economy last year (18.4 vs 16.2) and those over the next 12 months (2.8 vs 1.0) picked up. Also, consumers' assessment regarding their own financial conditions last year improved (24.8 vs 19.5), with those of next year easing slightly(22.1 vs 23.3).
2019-08-15

Norway Consumer Confidence
In Norway, the Finance Norway and TNS Gallup consumer confidence survey measures the level of optimism that consumers have about the performance of the economy. Generally consumer confidence is high when the unemployment rate is low and GDP growth is high. Measures of average consumer confidence can be useful indicators of how much consumers are likely to spend.