Household consumption of goods in Norway rose 2.5 percent month-over-month in April of 2020, swinging from an upwardly revised 4.2 percent fall in the previous month. This was the steepest growth in personal spending since January 2017, amid loosening of coronavirus-triggered lockdown. Spending on other goods rebounded sharply (8.0 percent vs -9.2 percent in March), while those on electricity and heating fuels grew faster (2.6 percent vs 1.7 percent). In addition, purchases of vehicles and petrol fell much less (-6.8 percent vs -17.9 percent). Meanwhile, consumption of food, beverages, and tobacco declined for the first time in three months (-0.2 percent vs 8.1 percent).
Household Spending in Norway averaged 0.21 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 May of 2020. source: Statistics Norway
Household Spending in Norway is expected to be 0.40 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 0.40 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.