Norway's general public’s domestic loan debt increased 5.4 percent year-on-year to NOK 5,723.5 billion in December 2018, easing from an upwardly revised 5.6 percent advance in the prior month. It was the smallest gain in domestic loan debt since May 2017, as non-financial corporations' debt rose at a softer 5.1 percent to NOK 1,760.9 billion (vs 5.8 percent in November) while households' domestic debt went up 5.5 percent to NOK 3,449.9 billion, the same as in November. On the other hand, municipal government's debt increased at a faster 6.3 percent to NOK 512.7 billion (vs 5.3 percent in November). Loan Growth in Norway averaged 7.33 percent from 1986 until 2018, reaching an all time high of 24.20 percent in February of 1987 and a record low of -4.40 percent in October of 1992.
Loan Growth in Norway is expected to be 5.42 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Loan Growth in Norway to stand at 5.15 in 12 months time. In the long-term, the Norway Credit Indicator is projected to trend around 4.89 percent in 2020, according to our econometric models.