Household consumption of goods in Norway increased by 0.1 percent month-over-month in January 2019, following a downwardly revised of flat reading in the previous month. Purchases of vehicles and petrol rose 7.3 percent, reversing from a 6.3 percent fall in January. At the same time, consumption for food beverages and tobacco grew much softer (0.2 percent vs 0.8 percent). Meanwhile, spending declined for both electricity and heating fuels (-5.4 percent vs flat reading) and other goods (-1.8 percent vs 2 percent). Household Spending in Norway averaged 0.20 percent from 1979 until 2019, reaching an all time high of 10.20 percent in January of 2000 and a record low of -10.90 percent in January of 1995.
Household Spending in Norway is expected to be 0.70 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 0.60 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.