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102406
Increase in money supply growth
statistikk
2013-07-01T10:00:00.000Z
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, May 2013

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Increase in money supply growth

The twelve-month growth in total money supply (M2) was 6.6 per cent to end-May, up from 4.3 per cent to end-April. The increase stems from all sectors.

Monetary aggregates. Percentage changePublished 1 July 2013
December 2012January 2013February 2013March 2013April 2013May 2013
12-month growth, M0-39.4-40.5-3.0-2.5-9.88.0
12-month growth, M12.61.82.01.72.53.9
12-month growth, M25.34.23.54.14.36.6
3-month moving average, M26.73.83.53.05.6..
1-month growth, M2-4.53.61.48.73.012.7
12-month growth, households, M26.66.46.26.25.75.8
12-month growth, non-financial corporations, M21.82.20.20.52.47.1

Source: Statistics Norway

Money supply M2 - growth. Per cent

The total money supply amounted to NOK 1 791 billion at end-May, up from NOK 1 772 billion at end-April.

Increasing growth in money supply for households

Households’ money supply constitutes more than half of the total money supply. At end-May it accounted for NOK 970 billion, down from NOK 974 billion at end-April. The twelve-month growth in households’ money supply was 5.8 per cent to end-May, marginally up from 5.7 per cent the previous month.

The growth in households’ money supply was lower than the growth in households’ gross domestic debt, which amounted to 7.4 per cent to end-May, according to the credit indicator C2.

Increasing growth of money supply for non-financial enterprises

Non-financial enterprises’ money supply amounted to NOK 556 billion at end-May, up from NOK 546 billion at end-April. The twelve-month growth was 7.1 per cent to end-May, up from 2.4 per cent the previous month. Non-financial enterprises’ money supply constituted 31 per cent of the total money supply at end-May.

Increase in money supply growth for municipal government

Municipal government’s money supply amounted to NOK 87 billion at end-May, up from NOK 79 billion the previous month. The twelve-month growth rate was 9.8 per cent to end-May, up from 8.3 per cent to end-April.

Increase in money supply growth for other financial enterprises

Other financial enterprises’ money supply amounted to NOK 179 billion at end-May, up from NOK 173 billion at end-April. The twelve-month growth was 7.7 per cent to end-May, up from 1.0 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 1 791 billion at end-May, of which the major part, 92.9 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 4.5 and 0.2 per cent respectively.

Increasing growth in base money

Base money (M0) amounted to NOK 83 billion at end-May, up from NOK 77 billion the previous month. The twelve-month growth in M0 increased from -9.8 per cent by the end of April to 8.0 per cent at the end of May.