The money supply M2, February 2007

The broad monetary aggregate M2 amounted to NOK 1 246 billion at end-February, of which more than half referred to household money supply (NOK 674 billion). Twelve-month growth in household money supply increased from 6.1 per cent to 6.5 per cent in February. Despite the increase, the growth in household money supply is still considerably lower than the growth in household gross domestic debt (12.1 per cent), as shown by the C2 statistics, see http://www.ssb.no/english/subjects/11/01/k2_en/

For more information about the financial position of households, see http://www.ssb.no/finsek_en/

High , but decreasing growth in non - financial enterprises

Non-financial enterprise money supply amounted to NOK 433 billion at end-February. Twelve-month growth was 31.4 per cent, down from 31.9 per cent in the previous month.

Despite the decline, the growth is still at a high level. Since the beginning of 2006, non-financial enterprises are the (institutional) sector with the highest contribution to the growth in money supply, representing about 2/3 of this growth at end-February. The high growth may be connected with high turnover and profitability in business and industry. As shown by the C2 statistics, the growth in enterprise gross debt was also high (21.2 per cent).