93444_not-searchable
/en/bank-og-finansmarked/statistikker/m2/maaned
93444
Further increase in money supply growth
statistikk
2013-05-31T10:00:00.000Z
Banking and financial markets
en
m2, The money supply M2, money, notes and coins, assetsFinancial indicators, Banking and financial markets
false

The money supply M2, April 2013

Content

Published:

This is an archived release.

Go to latest release

Further increase in money supply growth

The twelve-month growth in total money supply (M2) was 4.0 per cent to end-April, up from 3.9 per cent to end-March. The increase stems from non-financial enterprises.

Monetary aggregates. Percentage changePublished 31 May 2013
November 2012December 2012January 2013February 2013March 2013April 2013
12-month growth, M0-26.7-39.4-40.5-3.0-2.5-9.8
12-month growth, M14.42.71.92.11.92.8
12-month growth, M25.75.44.23.43.94.0
3-month moving average, M26.06.83.62.71.9..
1-month growth, M220.6-4.12.20.17.32.9
12-month growth, households, M26.76.76.56.36.25.8
12-month growth, non-financial corporations, M23.51.71.9-0.6-0.61.2

Source: Statistics Norway

Money supply M2 – growth. Per cent

The total money supply amounted to NOK 1 769 billion at end-April, marginally down from NOK 1 771 billion at end-March.

Decreased growth in money supply for households

Households’ money supply constitutes more than half of the total money supply. At end-April it accounted for NOK 977 billion, down from NOK 979 billion at end-March. The twelve-month growth in households’ money supply was 5.8 per cent to end-April, down from 6.2 per cent the previous month.

The growth in households’ money supply was lower than the growth in households’ gross domestic debt, which amounted to 7.7 per cent to end-April, according to the credit indicator C2.

Increasing growth of money supply for non-financial enterprises

Non-financial enterprises’ money supply amounted to NOK 540 billion at end-April, marginally down from NOK 540 billion at end-March. The twelve-month growth was 1.2 per cent to end-April, up from -0.6 per cent the previous month. Non-financial enterprises’ money supply constituted 30.5 per cent of the total money supply at end-April.

Decrease in money supply growth for municipal government

Municipal government’s money supply amounted to NOK 79 billion at end-April, up from NOK 78 billion the previous month. The twelve-month growth rate was 8.7 per cent to end-April, down from 10.1 per cent to end-March.

Decrease in twelve-month growth for other financial enterprises

Other financial enterprises’ money supply amounted to NOK 173 billion at end-April, down from NOK 174 billion at end-March. The twelve-month growth was 1.6 per cent to end-April, down from 2.6 per cent the previous month.

Steady composition of money supply

The composition of the money supply has been steady. The broad monetary aggregate M2 amounted to NOK 1 769 billion at end-April, of which the major part, 93 per cent, consisted of bank deposits. In comparison, notes and coins accounted for 2.5 per cent. The rest of the broad monetary aggregate consisted of shares in money market funds and certificates of deposits, which accounted for 4.3 and 0.2 per cent respectively.

Decreasing growth in base money

Base money (M0) amounted to NOK 77 billion at end-April, down from NOK 90 billion the previous month. The twelve-month growth in M0 decreased from -2.5 per cent by the end of March to -9.8 per cent at the end of April.