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.

Consumer Confidence in Norway averaged 17.23 Index Points from 1992 until 2019, reaching an all time high of 34.90 Index Points in the first quarter of 1997 and a record low of -17.40 Index Points in the third quarter of 1992. This page provides - Norway Consumer Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Finans Norge & Kantar TNS

Consumer Confidence in Norway is expected to be 15.00 Index 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 10.50 in 12 months time. In the long-term, the Norway Consumer Confidence is projected to trend around 7.00 Index Points in 2020, according to our econometric models.

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Norway Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
13.40 15.00 34.90 -17.40 1992 - 2019 points Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-02-26 05:30 AM Q1 12.70 14.20 14
2019-05-28 04:30 AM Q2 12.8 13.3 9
2019-08-15 05:45 AM Q3 17.1 13.9 10
2019-11-19 05:30 AM Q4 13.40 15.0 15
2020-02-20 05:30 AM Q1 13.4 7


News Stream
2019-08-15
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).

2019-05-28
Norway Q2 Consumer Sentiment Weakest in 2 Years
Norway's consumer confidence dropped to 12.8 in the three months to June 2019 from an upwardly revised 13.3 in the previous period. This was the weakest figure since the second quarter 2017 when the reading was at 12.5, with consumers' willingness to make larger purchases softening markedly (12.5 vs 14.1 in Q1), following an increase in the Norwegian central bank's interest rates. Meanwhile, households' expectations towards the country's economy last year surged (16.2 vs 7.1) and those over the country's economy over the next 12 months strengthened (1.0 vs 0.3). At the same time, consumers' expectations regarding their own financial conditions next year (23.3 vs 19.9) and those of last year (19.5 vs 18.1) improved. The country's consumer confidence hit a 24-year low of -15.4 in the first quarter of 2016, due to a plunge in crude oil prices.

2019-02-26
Norway Consumer Morale Weakest in Nearly 2 Years
Norway's consumer confidence declined to 12.7 in the first quarter of 2019 from a downwardly revised 14.2 in the previous period. It was the lowest reading since the second quarter of 2017, as households' expectations towards the country's economy last year weakened sharply (7.1 vs 18.2), as well as those towards the country's economy over the next 12 months (0.3 vs 2.9). Meanwhile, consumers' expectations regarding their own financial conditions next year improved (19.9 vs 18.8 in Q3) and their willingness to make large purchases strengthened (14.1 vs 10.4). "It may seem that we are experiencing an increased polarization in Norwegian society, where the belief in the future is linked to how people seem to vote", the CEO of Finance Norway Idar Kreutzer said. The country's consumer confidence hit a 24-year low of -15.2 in the first quarter of 2016, due to a plunge in crude oil prices.


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.