Tuesday, a report from the Statistics Norway showed that the twelve-month growth in the C2 credit indicator slowed to 9.4% at the end of February from 9.9% at the end of January. The C2 indicator's growth in February was in line with economists' expectations. Both household debt as also non-financial enterprise debt contributed to the fall in the indicator's growth.
The C2 indicator is an approximate measure of the size of the gross domestic debt of the general public, that is, the debt of households, non-financial enterprises and municipalities.
At the end of February, the twelve-month growth in the gross domestic debt of households decreased to 6.7% from 6.8% at the end of January. This is the lowest 12-month growth since August 1999.
At the same time, the twelve-month growth in the gross domestic debt of non-financial enterprises eased to 13.2% from 14.6%.
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