Household consumption of goods in Norway declined by 22.5 percent month-over-month in January of 2023, the first fall since last July and the steepest pace on record, amid intense cost pressures and rising borrowing costs. The latest result came after a marginally revised 12.7 percent growth in December, due to a tumble in purchases of vehicles and petrol (-74.4 percent vs 68.1 percent in December) and a fall in spending on electricity and heating fuels (-6.7 percent vs 16.5 percent). On the flip side, spending rose for both food, beverages, and tobacco (2.2 percent vs -0.9 percent) and other goods (1.4 percent vs- 4.8 percent). source: Statistics Norway

Household Spending MoM in Norway averaged 0.20 percent from 1979 until 2023, reaching an all time high of 16.10 percent in January of 2000 and a record low of -22.50 percent in January of 2023. This page includes a chart with historical data for Norway Household Consumption MoM. Norway Household Consumption MoM - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

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Norway Household Consumption MoM



Calendar GMT Actual Previous Consensus TEForecast
2023-01-27 07:00 AM Dec 12.8% 2.8% -3%
2023-02-27 07:00 AM Jan -22.5% 12.7% -6.7%
2023-03-29 06:00 AM Feb -22.5%

Norway Household Consumption MoM
In Norway, the index of household consumption of goods measures the development in household consumption of goods (durable and non-durable). The statistics are calculated as an index and are based on the index of retail sales, first-time registered motor vehicles, sales of alcoholic and non-alcoholic beverages and electricity, petrol and fuel statistics. The index does not cover household consumption of goods abroad.
Actual Previous Highest Lowest Dates Unit Frequency
-22.50 12.70 16.10 -22.50 1979 - 2023 percent Monthly
SA

News Stream
Norway Personal Spending Drops at Record Pace
Household consumption of goods in Norway declined by 22.5 percent month-over-month in January of 2023, the first fall since last July and the steepest pace on record, amid intense cost pressures and high borrowing costs. The latest result came after a marginally revised 12.7 percent growth in December, due to a tumble in purchases of vehicles and petrol (-74.4 percent vs 68.1 percent in December) and a fall in spending on electricity and heating fuels (-6.7 percent vs 16.5 percent). On the flip side, spending rose for both food, beverages, and tobacco (2.2 percent vs -0.9 percent) and other goods (1.4 percent vs- 4.8 percent).
2023-02-27
Norway Personal Spending Climbs Sharply
Household consumption of goods in Norway jumped 12.8 percent month-over-month in December 2022, reaching the second fastest growth on record and picking up from an upwardly revised 2.8 percent increase in November. Purchases of vehicles and petrol surged by 67.6 percent, far more than a 12.3 percent gain in the prior month. Also, spending accelerated for electricity and heating fuels (15.5 percent vs 0.9 percent). By contrast, it fell for food, beverages & tobacco (-0.8 percent vs 0.2 percent) and other goods (-4.5 percent vs 0.6 percent).
2023-01-27
Norway Household Spending Rises the Most in 8 Months
Household consumption of goods in Norway advanced by 2.6 percent month-over-month in November 2022, accelerating from an upwardly revised 0.9% gain in the previous month. It was the strongest growth in household spending since March, due to faster rises in purchases of vehicles and petrol (12.1 percent vs 3.6 percent), amid a rebound in food, beverages and tobacco (0,3% vs -0.6%). Meanwhile, spending on other goods grew by 0.5%, after a 0.6% growth in the prior month. By contrast, spending on electricity and heating fuels fell by 1.0%, reversing from a 3.8% increase in October.
2022-12-27