Norway's general public’s domestic loan debt rose 5.6 percent year-on-year to NOK 5,634 billion in September 2018, easing from an upwardly revised 5.9 percent advance in the prior month and below market expectations of 5.7 percent. It was the smallest increase in domestic loan debt since August 2017, as non-financial corporations' debt rose at a softer 5.2 percent to NOK 1,720 billion (vs 6.6 percent in August). Meanwhile, households' domestic debt went up 5.9 percent to NOK 3,416 billion (vs 5.8 percent in August) and municipal government's debt increased 4.6 percent to NOK 498 billion (vs 4.5 percent in August). Loan Growth in Norway averaged 7.35 percent from 1986 until 2018, 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 5.36 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 4.78 in 12 months time. In the long-term, the Norway Credit Indicator is projected to trend around 4.19 percent in 2020, according to our econometric models.
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