Content
Published:
This is an archived release.
Decreased money supply growth
The twelve-month growth in total money supply (M2) was 4.0 per cent to end-September, down from 6.2 per cent the previous month.
April 2013 | May 2013 | June 2013 | July 2013 | August 2013 | September 2013 | |
---|---|---|---|---|---|---|
12-month growth, M0 | -9.8 | 8.0 | -10.8 | 12.4 | 51.3 | -6.8 |
12-month growth, M1 | 2.6 | 4.0 | 3.5 | 4.3 | 6.3 | 2.3 |
12-month growth, M2 | 4.1 | 6.2 | 4.6 | 4.6 | 6.2 | 4.0 |
3-month moving average, M2 | 4.9 | 4.9 | 5.7 | 6.8 | 5.8 | .. |
1-month growth, M2 | 0.8 | 10.3 | 2.9 | 4.5 | 23.6 | -18.9 |
12-month growth, households, M2 | 5.7 | 5.8 | 5.7 | 4.9 | 5.5 | 4.7 |
12-month growth, non-financial corporations, M2 | 2.0 | 6.3 | 3.3 | 5.8 | 9.7 | 5.9 |
![Figure 1. Money supply M2 - growth Figure 1. Money supply M2 - growth](/en/bank-og-finansmarked/statistikker/m2/maaned/_image/146342.png?_encoded=2f66666666666678302f35382f&_ts=1420e4e8058)
The total money supply amounted to NOK 1 810 billion at end-September, down from NOK 1 834 billion at end-August.
Lower growth in money supply for households
Households’ money supply constitutes more than half of the total money supply. At end-September it accounted for NOK 1 004 billion, down from NOK 1 013 billion at end-August. The twelve-month growth in households’ money supply was 4.7 per cent to end-September, down from 5.5 per cent the previous month.
The growth in households’ money supply was lower than the growth in households’ gross domestic debt, which amounted to 7.3 per cent to end-September, according to the credit indicator C2.
Decreasing growth of money supply for non-financial enterprises
Non-financial enterprises’ money supply amounted to NOK 565 billion at end-September, down from NOK 580 billion at end-August. The twelve-month growth was 5.9 per cent to end-September, down from 9.7 per cent the previous month. Non-financial enterprises’ money supply constituted 31 per cent of the total money supply at end-September.
Declining money supply growth for municipal government
Municipal government’s money supply amounted to NOK 74 billion at end-September, up from NOK 66 billion the previous month. The twelve-month growth rate was -3.7 per cent to end-September, down from -1.4 per cent to end-August.
Fall in money supply growth for other financial enterprises
Other financial enterprises’ money supply amounted to NOK 167 billion at end-September, down from NOK 174 billion at end-August. The twelve-month growth was -2.1 per cent to end-September, down from 2.3 per cent the previous month.
Steady composition of money supply
The composition of the money supply remains steady. The broad monetary aggregate M2 amounted to NOK 1 810 billion at end-September, of which the major part, 93.5 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 3.8 and 0.2 per cent respectively.
Decreasing growth in base money
Base money (M0) amounted to NOK 92 billion at end-September, down from NOK 122 billion the previous month. The twelve-month growth in M0 decreased from 51.3 per cent by the end of August to -6.8 per cent at the end of September.
The statistics is published with Monetary aggregates.
Contact
-
Statistics Norway's Information Centre
E-mail: informasjon@ssb.no
tel.: (+47) 21 09 46 42