Household consumption of goods in Norway jumped by 1.1 percent month-over-month in November 2019, recovering from a downwardly revised 0.9 percent fall in October, boosted by a rebound in purchases of both food, beverages and tobacco (1.8 percent vs -0.7 percent) and other goods (1.4 percent vs -0.4 percent). In addition, electricity and heating fuels consumption rose faster (1.9 percent vs 0.8 percent), while spending on vehicles and petrol dropped at softer pace (-1.1 percent vs -3.5 percent). Household Spending in Norway averaged 0.21 percent from 1979 until 2019, 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. source: Statistics Norway

Household Spending in Norway is expected to be 0.60 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 0.10 in 12 months time. In the long-term, the Norway Household Consumption MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.

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Norway Household Consumption MoM

Actual Previous Highest Lowest Dates Unit Frequency
1.10 -0.90 16.10 -10.90 1979 - 2019 percent Monthly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 06:00 AM Aug 0.3% -1.5% 0.5%
2019-10-30 07:00 AM Sep 0.3% 0.6% -0.4%
2019-11-29 07:00 AM Oct -1% 0.1% 0.4%
2019-12-30 07:00 AM Nov 1.1% -0.9% 0.6%
2020-01-30 07:00 AM Dec 1.1% 0.6%


News Stream
2019-11-29
Norway Household Consumption Falls in October
Household consumption of goods in Norway declined by 1 percent month-over-month in October 2019, after a downwardly revised 0.1 percent rise in the previous month, as purchases of vehicles and petrol slumped 3.8 percent (vs 0.3 percent in September). Spending also fell for both food, beverages and tobacco (-0.6 percent vs -1 percent) and other goods (-0.4 percent vs 0.2 percent). In addition, electricity and heating fuels consumption rose much less (0.7 percent vs 4.1 percent).

2019-10-30
Norway Personal Spending Growth Slows in September
Household consumption of goods in Norway increased by 0.3 percent month-over-month in September 2019, easing from an upwardly revised 0.6 percent rise in the previous month. Purchases of vehicles and petrol grew much softer (1.1 percent vs 3.9 percent in August) and consumption of food, beverages and tobacco fell (-1 percent vs 1 percent). In contrast, spending rebounded for both electricity and heating fuels (4.1 percent vs -4 percent) and other goods (0.3 percent vs -0.2 percent).

2019-09-30
Norway August Household Consumption Rebounds
Household consumption of goods in Norway increased 0.3 percent month-over-month in August 2019, shifting from a downwardly revised 1.5 percent fall in the previous month, as purchases of vehicles and petrol recovered sharply (3.1 percent vs -11.6 percent in July). Meanwhile, purchases of food, beverages and tobacco rose by 0.7 percent after increasing by 1 percent in July. Conversely, purchases fell for both electricity and heating fuels (-4.0 percent vs 2.0 percent) and other goods (-0.3 percent vs 0.5 percent).

2019-08-30
Norway Household Consumption Falls the Most in 1-1/2 Year
Household consumption of goods in Norway dropped 1.8 percent month-over-month in July 2019, following an upwardly revised 1.4 percent rise in the previous month. It was the steepest decline in household spending since January last year, as purchases of vehicles and petrol tumbled (-13.6 percent vs 7.4 percent in June). Meanwhile, purchases rose faster for both electricity and heating fuels (2.6 percent vs 0.5 percent) and other goods (0.5 percent vs 0.1 percent). Also, purchases of food, beverages and tobacco rose by 1 percent after being unchanged in June.

2019-07-30
Norway Household Consumption Rebounds in June
Household consumption of goods in Norway jumped 1.1 percent month-over-month in June 2019, following a 0.3 percent drop in the previous month, led by purchases of vehicles and petrol (6.0 percent vs 0.3 percent in May) and other goods (0.4 percent vs -0.8 percent). Meantime, purchases of food, beverages and tobacco were flat (vs -1.2 percent in May) while those of electricity and heating fuels declined 0.4 percent (vs 6.9 percent in May).

2019-06-27
Norway Household Consumption Falls in May
Household consumption of goods in Norway declined by 0.3 percent month-over-month in May 2019, following an upwardly revised 1.4 percent drop in the previous month. This was the second straight month decrease in household spending, There were falls in purchases of other goods (-1.1 percent vs 1.0 percent), food, beverages and tobacco (-1.1 percent vs 0.1 percent). Meanwhile, spending rebounded for both electricity and heating fuels (8.1 percent vs -4.5 percent) and vehicles and petrol (0.2 percent vs -8.3 percent).


Norway Household Consumption MoM
In Norway, the index of household consumption of goods measures the development in household consumption of goods (durable and non-durable). The index does not cover household consumption of goods abroad, such as cross-border shopping.

Norway Consumer Last Previous Highest Lowest Unit
Consumer Confidence 13.40 15.00 34.90 -17.40 points [+]
Retail Sales MoM 1.00 -0.70 15.40 -9.00 percent [+]
Retail Sales YoY 0.80 -0.30 8.70 -4.30 percent [+]
Consumer Spending 383592.00 381911.00 383592.00 125359.00 NOK Million [+]
Disposable Personal Income 388871.00 382123.00 388871.00 165112.00 NOK Million [+]
Personal Savings 8.50 7.20 12.90 -2.00 percent [+]
Consumer Credit 3619251.00 3610084.00 3619251.00 448169.00 NOK Million [+]
Household Spending 1.10 -0.90 16.10 -10.90 percent [+]
Households Debt To GDP 101.70 100.30 102.50 40.40 percent of GDP [+]
Households Debt To Income 202.03 197.54 202.03 118.51 percent [+]
Gasoline Prices 1.74 1.70 2.63 1.19 USD/Liter [+]
Consumer Confidence Current Conditions 11.59 0.17 64.60 -65.10 [+]
Consumer Confidence Economic Expectations 12.42 -5.06 38.30 -52.20 [+]
Consumer Confidence Financial Expectations 25.56 21.96 30.40 -2.80 [+]
Consumer Confidence Major Purchases Expectations 13.28 11.64 48.15 -29.69 [+]