Norway's general public’s domestic loan debt increased 5.6 percent year-on-year to NOK 5,864 billion in May 2019, following a 5.7 percent rise in the prior month and missing market consensus of 5.7 percent. This was the weakest growth rate in domestic loan debt since December, amid a slowdown in both non-financial corporations domestic loan debt (5.4 percent vs 5.5 percent in April) and municipal government loan debt (6.8 percent vs 7.0 percent). Meantime, households domestic loan debt growth was unchanged at 5.6 percent. Loan Growth in Norway averaged 7.31 percent from 1986 until 2019, 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 5.60 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 5.60 in 12 months time. In the long-term, the Norway Credit Indicator is projected to trend around 7.00 percent in 2020, according to our econometric models.