RTTNews - Tuesday, a report from Statistics Norway said the twelve-month growth in the C2 credit indicator was 8% in April, down from 8.8% in March.
The C2 is an approximate measure of the size of the gross domestic debt of the general public (households, non-financial enterprises and municipalities) in the local and foreign currency.
The twelve-month growth for household debt was 6.6% in April, down from 6.7% in March. This was the lowest twelve-month growth since August 1999. Moreover the twelve-month growth of non-financial enterprises debt decreased to 9.2% in April from 11% in the preceding month.
Separately, the statistical office said the twelve-month growth in the M2 money supply decreased sharply to 1.9% in April from 3.1% in March. At the same time, the M1 money supply fell 4.5% year-on-year in April compared a 4% drop in the preceding month.
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