Household consumption of goods in Norway fell 3.8 percent month-over-month in August 2020, after an upwardly revised 2.0 percent gain in the previous month. It was the first decline in consumption since March, due to a drop in spending on food, beverages and tobacco (-2.9 percent vs 2.2 percent in July), electricity and heating fuels (-5.4 percent vs 9.1 percent) and other goods (-5.8 percent vs 0.1 percent). In addition, purchases of vehicles and petrol rose at slower pace (0.6 percent vs 4.3 percent).
Household Spending in Norway averaged 0.22 percent from 1979 until 2020, reaching an all time high of 16.10 percent in January of 2000 and a record low of -10.90 percent in January of 1995. This page provides - Norway Household Consumption- actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Household Consumption MoM - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistics Norway
Household Spending in Norway is expected to be -1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Household Spending in Norway to stand at 0.30 in 12 months time. In the long-term, the Norway Household Consumption MoM is projected to trend around 0.40 percent in 2021 and 0.50 percent in 2022, according to our econometric models.