Increased domestic debt growth

Published:

The twelve-month growth in the credit indicator C2 was 5.7 per cent to end-June, up from 5.4 per cent the previous month.

Figure 1. Credit indicator (C2)

12-month growth 3-month moving average
Jun. 2014 5.3 5.2
Jul. 2014 5.4 5.0
Aug. 2014 5.3 5.3
Sep. 2014 5.4 5.6
Oct. 2014 5.4 5.9
Nov. 2014 5.2 5.5
Dec. 2014 5.4 5.3
Jan. 2015 5.6 5.2
Feb. 2015 5.5 6.0
Mar. 2015 5.8 6.5
Apr. 2015 5.7 7.1
May 2015 5.9 6.4
Jun. 2015 5.8 5.7
Jul. 2015 5.7 4.7
Aug. 2015 5.8 4.6
Sep. 2015 5.5 4.8
Oct. 2015 5.6 4.7
Nov. 2015 5.2 4.6
Dec.2015 5.4 4.1
Jan. 2016 5.3 4.7
Feb. 2016 5.2 4.9
Mar. 2016 4.9 5.6
Apr. 2016 5.1 5.6
May 2016 4.8 5.6
Jun. 2016 5.0 5.1
Jul. 2016 5.0 4.9
Aug. 2016 5.0 4.9
Sep. 2016 5.1 5.3
Oct. 2016 5.0 5.2
Nov. 2016 5.2 4.6
Dec. 2016 4.8 4.2
Jan. 2017 5.1 4.3
Feb. 2017 5.0 5.4
Mar. 2017 5.2 6.0
Apr. 2017 5.1 6.6
May 2017 5.4 6.7
Jun. 2017 5.7

The general public’s gross domestic debt C2 amounted to NOK 5 329 billion at end-June, according to The credit indicator C2.

Decreased debt growth in households

Households’ gross domestic debt totalled NOK 3 170 billion at end-June. The twelve-month growth was 6.6 per cent to end-June, down from 6.7 per cent the month before.

Increased debt growth for non-financial corporations

Non-financial corporations’ gross domestic debt amounted to NOK 1 688 billion at end-June. The twelve-month growth was 4.0 per cent to end-June, up from 3.1 per cent the previous month.

Increased debt growth for municipal government

Municipal government’s gross domestic debt totalled NOK 470 billion at end-June. The twelve-month growth was 5.3 per cent to end-June, up from 5.2 per cent the month before.

Increased growth in banks and mortgage companies’ loans

Of the general public’s gross domestic debt, 80 per cent consisted of banks and mortgage companies’ loans at end-June. This amounted to NOK 4 266 billion. The twelve-month growth in banks and mortgage companies’ loans was 5.6 per cent to end-June, up from 5.2 per cent the month before.

Decreased growth in bond debt

The twelve-month growth rate in bond debt was 9.7 per cent to end-June, down from 10.8 per cent to end-May. The twelve-month growth rate in certificate debt was -5.2 per cent to end-June, down from -3.8 per cent the previous month.