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117331
Increase in debt growth
statistikk
2013-11-01T10:00:00.000Z
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, September 2013

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Increase in debt growth

The twelve-month growth in the credit indicator C2 was 6.2 per cent to end-September, up from 6.1 per cent the previous month.

The general public’s gross domestic debt (C2). Percentage changePublished 1 November 2013
April 2013May 2013June 2013July 2013August 2013September 2013
1Annualised figure
12-month growth, total6.56.46.36.26.16.2
3-month moving average, total17.27.16.46.16.0..
12-month growth, households7.77.37.37.17.27.3
12-month growth, non-financial corporations4.14.34.24.03.84.0

Source: Statistics Norway

Figure 1. Credit indicator C2. Percentage change

The general public’s gross domestic debt C2 amounted to NOK 4 300 billion at end-September, up from NOK 4 275 billion the previous month.

Increased debt growth for households

Households’ gross domestic debt totalled NOK 2 502 billion at end-September, up from NOK 2 484 billion the previous month. The twelve-month growth was 7.3 per cent to end-September, up from 7.2 per cent to end-August.

Increasing debt growth for non-financial corporations

Non-financial corporations’ gross domestic debt amounted to NOK 1 434 billion at end-September, up from NOK 1 427 billion at end-August. The twelve-month growth was 4.0 per cent to end-September, up from 3.8 per cent the month before.

Increased debt growth for municipal government

Municipal government’s gross domestic debt totalled NOK 364 billion at end-September, nearly unchanged compared to end-August. The twelve-month growth was 8.2 per cent to end-September, up from 7.8 per cent the previous month.

Growth rates affected by portfolio shifts

Of the general public’s gross domestic debt, nearly half consisted of bank loans at end-September. This amounted to NOK 2 060 billion. The twelve-month growth in bank loans was 3.1 per cent to end-September, up from 2.5 per cent the previous month. Mortgage companies’ loans amounted to NOK 1 420 billion at end-September, up from NOK 1 407 billion at end-August. The twelve-month growth in mortgage company loans was 5.5 per cent to end-September, down from 5.8 per cent the month before.

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 4.0 per cent to end-September, up from 3.8 per cent to end-August.

High activity in the bond market

The twelve-month growth rate in bond debt was 31.6 per cent to end-September, up from 31.2 per cent to end-August. The twelve-month growth rate in certificate debt was -6.3 per cent to end-September, down from 1.0 per cent the previous month.