Decreased growth in domestic loan debt
The twelve-month growth in the credit indicator C2 was 5.6 per cent to the end of July 2019, down from 5.7 per cent the previous month.
The general public’s domestic loan debt amounted to NOK 5 906 billion at end-July, according to new figures from the Credit indicator statistics.
Figure 1. Credit indicator (C2)
|General public||Households||Non-financial corporations||Municipalities|
Decreased debt growth in households
Households’ domestic loan debt totalled NOK 3 555 billion at end-July. The twelve-month growth was 5.3 per cent to end-July, down from 5.5 per cent the previous month. Some of the decline is due to changed period for converting student loans into scholarships, see explanation below.
Unchanged debt growth in non-financial corporations
Non-financial corporations domestic loan debt amounted to NOK 1 819 billion at end-July. The twelve-month growth was 5.8 per
cent to end-July, unchanged from the previous month.
Increased growth in loans from banks and mortgage companies
Of the general public’s domestic loan debt, 81 per cent consisted of loans from banks and mortgage companies at end-July. This amounted to NOK 4 782 billion. The twelve-month growth in loans from banks and mortgage companies was 5.8 per cent, up from 5.7 per cent the previous month.
Decreased growth in debt securities
The twelve-month growth in the general public’s debt securities was 2.2 per cent to end-July, down from 3.5 per cent the previous month.
External debt fell further in the 2nd quarter of 2019
The general public’s total loan debt (C3) amounted to NOK 7 161 billion at the end of the 2nd quarter of 2019. The external debt constitutes NOK 1 259 billion.
The external loan debt kept on declining to the end of the 2nd quarter. The twelve-month growth in external debt increased from -5.6 per cent to -2.1 per cent from the end of the 1st quarter to the end of the 2nd quarter of 2019.
The external loan debt mainly relates to non-financial corporations.