Norway's general public’s domestic loan debt increased 5.6 percent year-on-year to NOK 5,906 billion in July 2019, easing from a 5.7 percent growth in the previous month and missing market consensus of 5.8 percent. Households domestic loan rose at a softer pace (5.3 percent vs 5.5 percent in June) while non-financial corporations domestic loan debt growth was unchanged at 5.8 percent. On the other hand, government loan debt advanced 7.0 percent in July, faster than 6.8 percent in June. Loan Growth in Norway averaged 7.30 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.