Norway’s credit indicator data for the twelve-month period from May 2022 to May 2023 has been released, revealing that the loan debt C2 has grown by 5.0 per cent during this time. The report, which provides valuable insights into the country’s financial markets, was published by Statistics Norway (SSB) and sheds light on the borrowing and lending trends in different sectors.
According to the data, the loan debt C2 reflects the general public’s debt, including households, non-financial corporations, and municipal governments. Among these entities, households experienced a growth rate of 3.9 per cent in May 2023, indicating a moderate increase in borrowing activities by Norwegian families.
On the other hand, non-financial corporations saw a slightly higher growth rate in their debt at 6.8 per cent in May 2023. This suggests that businesses in Norway have been actively utilizing credit sources for expansion and investment endeavors.
Municipal governments, responsible for various public projects and initiatives, recorded a growth rate of 6.0 per cent in their debt in May 2023. This indicates their reliance on credit to finance developmental activities.
While the credit indicator shows an overall growth rate of 5.0 per cent, it’s important to note that this rate has been gradually declining since February 2023 when it stood at 5.4 per cent. This trend may indicate a cautious approach to borrowing and lending within the country’s financial markets.
https://www.ssb.no/en/bank-og-finansmarked/finansielle-indikatorer/statistikk/kredittindikator