Weaker growth in total loan debt
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The twelve-month growth in total gross debt (C3) was 0.8 per cent to end-March 2017, down from 1.8 per cent the previous month. The decrease stemmed from foreign debt sources.
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- The credit indicator C3
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- The credit indicator C3 (archive)
Figure 1. The credit indicator C3. 12-month growth
| Total gross debt (C3) | Domestic gross debt (C2) | Foreign gross loan debt | |
| Mar. 2011 | 10.2 | 6.2 | 26.3 |
| Apr. 2011 | 9.6 | 6.4 | 22.4 |
| May 2011 | 9.3 | 6.4 | 20.6 |
| Jun. 2011 | 7.2 | 6.0 | 11.8 |
| Jul. 2011 | 8.1 | 6.2 | 15.2 |
| Aug. 2011 | 8.1 | 6.5 | 14.2 |
| Sep. 2011 | 7.4 | 6.7 | 10.1 |
| Oct. 2011 | 7.1 | 6.8 | 8.2 |
| Nov. 2011 | 6.4 | 6.5 | 6.0 |
| Dec. 2011 | 4.8 | 6.8 | -2.1 |
| Jan. 2012 | 2.6 | 7.0 | -12.6 |
| Feb. 2012 | 2.6 | 7.2 | -13.2 |
| Mar. 2012 | 6.5 | 7.2 | 4.1 |
| Apr. 2012 | 5.0 | 6.9 | -1.8 |
| May 2012 | 5.0 | 7.0 | -2.1 |
| Jun. 2012 | 6.8 | 7.3 | 4.9 |
| Jul. 2012 | 7.4 | 7.3 | 7.8 |
| Aug. 2012 | 7.1 | 7.2 | 6.8 |
| Sep. 2012 | 6.6 | 6.9 | 5.4 |
| Oct. 2012 | 6.8 | 6.9 | 6.2 |
| Nov. 2012 | 7.6 | 7.1 | 9.6 |
| Dec. 2012 | 8.5 | 6.5 | 16.1 |
| Jan. 2013 | 10.8 | 6.3 | 29.4 |
| Feb. 2013 | 10.6 | 6.3 | 27.8 |
| Mar. 2013 | 6.2 | 6.2 | 5.9 |
| Apr. 2013 | 7.9 | 6.5 | 13.3 |
| May 2013 | 7.8 | 6.4 | 13.1 |
| Jun. 2013 | 7.5 | 6.4 | 11.6 |
| Jul. 2013 | 6.8 | 6.2 | 9.0 |
| Aug. 2013 | 7.6 | 6.2 | 12.7 |
| Sep. 2013 | 7.5 | 6.3 | 11.9 |
| Oct. 2013 | 7.8 | 6.2 | 13.6 |
| Nov. 2013 | 7.4 | 6.0 | 12.3 |
| Dec. 2013 | 6 | 6.0 | 5.8 |
| Jan. 2014 | 5.4 | 5.7 | 4.2 |
| Feb. 2014 | 4.6 | 5.8 | 0.6 |
| Mar. 2014 | 6.4 | 5.7 | 8.7 |
| Apr. 2014 | 6.4 | 5.6 | 9.0 |
| May 2014 | 6 | 5.5 | 7.7 |
| Jun. 2014 | 5.6 | 5.3 | 6.6 |
| Jul. 2014 | 5.5 | 5.4 | 6.0 |
| Aug. 2014 | 5.2 | 5.3 | 4.6 |
| Sep. 2014 | 5.5 | 5.4 | 5.9 |
| Oct. 2014 | 5.2 | 5.4 | 4.9 |
| Nov. 2014 | 7.1 | 5.2 | 13.2 |
| Dec. 2014 | 6.1 | 5.4 | 8.7 |
| Jan. 2015 | 6.8 | 5.6 | 10.8 |
| Feb. 2015 | 7.2 | 5.5 | 13.4 |
| Mar. 2015 | 6.9 | 5.8 | 11.1 |
| Apr. 2015 | 5.9 | 5.7 | 6.6 |
| May 2015 | 7 | 5.9 | 11 |
| Jun. 2015 | 6.9 | 5.8 | 10.7 |
| Jul. 2015 | 6.7 | 5.7 | 10.2 |
| Aug. 2015 | 5.8 | 5.8 | 6 |
| Sep. 2015 | 6.1 | 5.5 | 8.1 |
| Oct. 2015 | 5 | 5.5 | 3.5 |
| Nov. 2015 | 2.8 | 5.4 | -5.2 |
| Dec. 2015 | 4.3 | 5.4 | 1 |
| Jan. 2016 | 3.3 | 5.3 | -2.7 |
| Feb 2016 | 3 | 5.2 | -3.9 |
| Mar. 2016 | 4.4 | 4.9 | 2.8 |
| Apr. 2016 | 4.4 | 5.1 | 2.3 |
| May 2016 | 3.5 | 4.8 | -0.6 |
| Jun. 2016 | 4.3 | 5 | 2.1 |
| Jul. 2016 | 3.7 | 5 | -0.2 |
| Aug. 2016 | 4.6 | 5 | 3.4 |
| Sep. 2016 | 4.4 | 5.1 | 2.2 |
| Oct. 2016 | 2.9 | 5.1 | -4.2 |
| Nov. 2016 | 2.4 | 5 | -5.9 |
| Dec. 2016 | 2.4 | 4.9 | -5.5 |
| Jan. 2017 | 2.2 | 5.1 | -6.9 |
| Feb. 2017 | 1.8 | 5 | -8.8 |
| Mar. 2017 | 0.8 | 5.2 | -13.1 |
Total gross debt amounted to NOK 6 605 billion at end-March, up from NOK 6 535 billion at end-February.
Mainland Norway’s gross debt accounted for 89 per cent of the total gross debt at end-March. This amounted to NOK 5 900 billion.
Decrease in foreign debt growth
The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 389 billion at end-March, up from NOK 1 355 billion the previous month. The twelve-month growth decreased from -8.8 per cent to end-February to -13.1 per cent to end-March.
Mainland Norway accounted for 58 per cent of the public gross foreign debt, which amounted to NOK 800 billion at end-March. The twelve-month growth in mainland Norway’s foreign debt was -3.1 per cent to end-March, up from -4.4 to end-February.
Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 589 billion at end-March. The twelve-month growth was -23.9 per cent to end-March, down from -13.9 per cent to end-February.
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