84546_not-searchable
/en/bank-og-finansmarked/statistikker/k2/arkiv
84546
Decrease in debt growth
statistikk
2012-06-08T10:00:00.000Z
Banking and financial markets
en
k2, The credit indicator C2, general public’s gross domestic debt, credit expansion, credit transactions, liabilities, creditFinancial indicators, Banking and financial markets
false

The credit indicator C2, April 2012

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Decrease in debt growth

The twelve-month growth in the credit indicator C2 was 6.7 per cent to end-April, down from 7 per cent the previous month. The decrease in growth stems from households, non-financial enterprises and municipalities.

Credit indicator C2. Percentage change

The general public’s gross domestic debt C2 amounted to NOK 3 922 billion at end-April, up from NOK 3 907 billion the previous month.

Decrease in debt growth for households

Households’ gross domestic debt totalled NOK 2 256 billion at end-April, up from NOK 2 247 billion the previous month. The twelve-month growth was 6.8 per cent to end-April, down from 7.1 per cent to end-March.

Decrease in debt growth for non-financial enterprises

Non-financial enterprises’ gross domestic debt amounted to NOK 1 335 billion at end-April, up from NOK 1 331 billion at end-March. The twelve-month growth was 6.4 per cent to end-April, down from 6.6 per cent to end-March. The growth based on the three-month moving average (annualised) of the non-financial gross debt was 7.7 per cent for the period February-April.

Decrease in debt growth for municipalities

Municipalities’ gross domestic debt totalled NOK 331 billion at end-April, up from NOK 330 billion at end-March. The twelve-month growth was 7.5 per cent to end-April, down from 8 per cent to the previous month.

Credit indicator C2. Percentage change
  November 2011 December. 2011 January 2012 February 2012 March 2012 April 2012
12 mth. total 6.5 6.7 6.9 7.0 7.0 6.7
3 mth. moving average total1 6.8 6.7 7.0 7.8 7.3  
12 mth. households 7.2 7.3 7.3 7.3 7.1 6.8
12 mth. non-financial enterprises 4.7 5.4 5.8 6.4 6.6 6.4
1  Annualised figure.

Growth rates are affected by portfolio shifts

Of the general public’s gross domestic debt, 50.4 per cent consisted of bank loans. Bank loans amounted to NOK 1 975 billion at end-April, up from NOK 1 973 billion at end-March. The twelve-month growth in bank loans was 0.6 per cent to end-April, down from 1.2 per cent the previous month. Mortgage companies’ loans amounted to NOK 1 289 billion at end-April, up from NOK 1 278 billion at end-March. The twelve-month growth increased from 18.7 per cent to end-March to 19.3 per cent to end-April. The growth rates are affected by transfers of loans from banks to mortgage companies. The growth rate for banks and mortgage companies in total was 7.2 per cent to end-April, down from 7.4 per cent the previous month.

Decrease in bond and certificate debt

The twelve-month growth rate in certificate debt was 14.1 per cent to end-April, down from 25.8 per cent the previous month. The twelve-month growth rate in the bond debt was -3.9 per cent to end-April, down from -2.4 per cent to end-March.

New institutional sector classification

The Norwegian institutional sector classification was revised on 1 January 2012 in line with the international classification. This change entails a break in the statistics for the credit indicator (C2) from March 2012.

As a result of the new classification, some enterprises that were previously classified as non-financial enterprises are now classified as financial enterprises. These enterprises are therefore no longer a part of “the general public”, and as such are not included in C2 as debtors.

In addition, some private quasi-unincorporated enterprises that were previously in the household sector are now classified as non-financial enterprises.

The new sector classification will have a minor impact of the general public’s gross domestic debt, and on the distribution of debt between households and non-financial enterprises. Based on data from the relevant enterprises, Statistics Norway has estimated and corrected transactions and growth rates. However, it should be noted that there is some uncertainty associated with the changes in sector classification between February 2012 and March 2012. For further information, see “ Institutional sector classification 2012 ”