Markets Actual Q1/23 Q2/23 Q3/23 Q4/23
Currency 10.34 10.48 10.76 11.04 11.34
Stock Market (points) 1365.78 1332 1287 1243 1202
Government Bond 10Y (%) 3.00 2.98 3.07 3.17 3.27

Overview Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 1.50 0.6 0.5 0.4 0.5
GDP Annual Growth Rate (%) 2.50 2.5 2.3 1.9 2
Unemployment Rate (%) 3.10 3.4 3.6 3.5 3.8
Inflation Rate (%) 5.90 5.5 4 2.8 1.7
Interest Rate (%) 2.75 3 3.25 3.25 3.25
Balance of Trade (NOK Million) 148775.27 176500 120900 172400 197800
Current Account (NOK Million) 570571.00 386000 251000 277000 198200
Current Account to GDP (% of GDP) 15.00 19
Government Debt to GDP (% of GDP) 43.20 38
Government Budget (% of GDP) 9.10 17
Business Confidence (points) -3.90 -6 -12 -7 -8
Manufacturing PMI (points) 50.00 46.5 48.3 47.8 50.2
Consumer Confidence (points) -38.00 -12 -18 -10 -8
Retail Sales MoM (%) -3.60 -0.6 0.4 -0.8 -0.7
Corporate Tax Rate (%) 22.00 22
Personal Income Tax Rate (%) 38.20 38.2

GDP Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 1.50 0.6 0.5 0.4 0.5
GDP Annual Growth Rate (%) 2.50 2.5 2.3 1.9 2
GDP (USD Billion) 482.17 550
GDP Constant Prices (NOK Million) 937065.00 934085 944100 954869 955806
Gross National Product (NOK Million) 1552142.00 1368420 1356936 1581633 1583185
Gross Fixed Capital Formation (NOK Million) 245884.00 250387 250486 250556 250802
GDP per Capita (USD) 77512.90 82300
GDP per Capita PPP (USD) 65662.17 70100
Full Year GDP Growth (%) 3.90 2.4
GDP from Agriculture (NOK Million) 6048.00 5997 5935 6163 6169
GDP from Construction (NOK Million) 56889.00 58707 58418 57970 58027
GDP from Manufacturing (NOK Million) 60814.00 61770 61357 61969 62030
GDP from Mining (NOK Million) 1656.00 1729 1664 1687 1689
GDP from Public Administration (NOK Million) 59850.00 60529 60707 60987 61047
GDP from Utilities (NOK Million) 6417.00 6210 6257 6539 6545

Labour Actual Q1/23 Q2/23 Q3/23 Q4/23
Unemployment Rate (%) 3.10 3.4 3.6 3.5 3.8
Unemployed Persons 59400.00 65100 69800 72600 75500
Labor Force Participation Rate (%) 72.40 72.6 72.8 72.7 72.3
Long Term Unemployment Rate (%) 0.60 0.9 1.1 1 1.3
Youth Unemployment Rate (%) 10.00 10.3 10.5 10.4 10.7
Labour Costs (points) 137.22 139 158 142 141
Wages in Manufacturing (points) 118.00 121 123 118 121
Wage Growth (%) 5.17 3.8 3.6 3.2 2.9
Population (Million) 5.43 5.51
Retirement Age Women (Years) 62.00 62
Retirement Age Men (Years) 62.00 62
Wages (NOK/Month) 50550.00 54163 54431 52168 52016

Prices Actual Q1/23 Q2/23 Q3/23 Q4/23
Inflation Rate (%) 5.90 5.5 4 2.8 1.7
Consumer Price Index CPI (points) 125.90 126 128 129 128
Harmonised Consumer Prices (points) 128.10 128 129 132 130
Core Consumer Prices (points) 121.00 122 123 124 125
Core Inflation Rate (%) 5.80 5.2 4.4 3.4 3.2
GDP Deflator (points) 167.14 154 157 172 170
Producer Prices (points) 213.90 244 236 244 221
Producer Prices Change (%) 18.70 15 10 5 3.5
Food Inflation (%) 11.45 8 5 5 3
Inflation Rate MoM (%) 0.10 0.3 0.5 0.2
CPI Housing Utilities (points) 134.20 134 134 138 136

Money Actual Q1/23 Q2/23 Q3/23 Q4/23
Interest Rate (%) 2.75 3 3.25 3.25 3.25
Interbank Rate (%) 3.19 3.44 3.69 3.69 3.69
Loans to Private Sector (NOK Million) 2173149.00 2091286 2171308 2192960 2216612
Deposit Interest Rate (%) 1.75 2 2.25 2.25 2.25
Lending Rate (%) 3.75 4 4.25 4.25 4.25
Loan Growth (%) 5.50 5.1 4.5 3.2 2.3
Private Debt to GDP (%) 287.54 291

Trade Actual Q1/23 Q2/23 Q3/23 Q4/23
Balance of Trade (NOK Million) 148775.27 176500 120900 172400 197800
Current Account (NOK Million) 570571.00 386000 251000 277000 198200
Current Account to GDP (% of GDP) 15.00 19
Imports (NOK Million) 90974.00 101500 115100 112600 122200
Exports (NOK Million) 239749.27 278000 236000 285000 320000
Crude Oil Production (BBL/D/1K) 1775.00 1740 1790 1810 1850

Government Actual Q1/23 Q2/23 Q3/23 Q4/23
Government Debt to GDP (% of GDP) 43.20 38
Government Budget (% of GDP) 9.10 17
Government Budget Value (NOK Million) 343418.00 205000 169000 163000 76000
Government Spending (NOK Million) 236532.00 242410 242164 241026 241263
Government Spending to GDP (% of GDP) 49.20 54
Government Revenues (NOK Million) 718838.00 654000 631000 552000 542000
Fiscal Expenditure (NOK Million) 375420.00 449000 462000 389000 466000

Taxes Actual Q1/23 Q2/23 Q3/23 Q4/23
Corporate Tax Rate (%) 22.00 22
Personal Income Tax Rate (%) 38.20 38.2
Sales Tax Rate (%) 25.00 25
Social Security Rate (%) 22.10 22.1
Social Security Rate For Companies (%) 14.10 14.1
Social Security Rate For Employees (%) 8.00 8

Business Actual Q1/23 Q2/23 Q3/23 Q4/23
Business Confidence (points) -3.90 -6 -12 -7 -8
Manufacturing PMI (points) 50.00 46.5 48.3 47.8 50.2
Industrial Production (%) 4.50 -0.3 -2.6 -1.4 -2.2
Industrial Production Mom (%) -0.90 -0.7 0.5 -0.6 0.4
Manufacturing Production (%) 0.20 -0.6 -3.2 -1.8 -2.8
Leading Economic Index (%) 0.20 -1.2 -0.4 0.2 0.5

Consumer Actual Q1/23 Q2/23 Q3/23 Q4/23
Consumer Confidence (points) -38.00 -12 -18 -10 -8
Retail Sales MoM (%) -3.60 -0.6 0.4 -0.8 -0.7
Retail Sales YoY (%) -7.70 -6.2 -4.4 -3.8 -2.8
Consumer Spending (NOK Million) 422949.00 416182 430703 430985 431408
Disposable Personal Income (NOK Million) 350060.00 380277 374031 356711 357061
Personal Savings (%) 2.50 7.8 7.2 6.9 6.6
Consumer Credit (NOK Million) 4158867.00 4125494 4175233 4198875 4242044
Household Spending (%) 4.30 -4.4 -2.3 -1.8 -1.2
Gasoline Prices (USD/Liter) 1.97 2.05 2.12 2.21 2.29

Housing Actual Q1/23 Q2/23 Q3/23 Q4/23
Housing Index (points) 313.77 327 331 325 308
House Price Index MoM (%) 0.00 -0.6 -0.3 -0.8 -0.6
House Price Index YoY (%) -0.30 1.2 1.5 1.4 1.1