Norway General Public Domestic Loan Debt y/y

General Public Domestic Loan Debt y/y reflects household debt to Norwegian credit institutions in Norwegian kroner and in foreign currency. The public here means the institutional sectors of government, non-financial corporations, households, etc. Households also include non-profit organizations serving households.

The statistics cover debt on all loans issued by domestic banks, state credit institutions, financial and non-life insurance companies, mortgage companies, pension funds and others. Also included are debt securities issued in Norway.

Statistics Norway collects debt data from reports submitted by banks, mortgage companies, government credit institutions and financial companies. Additional data is provided by pension funds, the Central Depository and the Central Financial Supervision Authority.

The loan debt indicator directly reflects private sector lending in Norway. The amount of credit loans issued to households and private businesses characterizes the level of the country's banking sector development, consumer well-being and, in part, retail sales This indicator is not predictive: people take out more loans when the interest rate decreases or when the labor market rises (households have more confidence in future income). This figure is rarely interpreted as a separate indicator and is analyzed by economists in conjunction with other indicators, such as consumer spending, wages and banking sector state.

In general, Retail Sales growth indicates an increase in consumer activity and can be seen as positive for the Norwegian krone quotes.