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.