GDP components · Norway
Norway Household Consumption MoM
The Norway Household Consumption MoM is one part of the national accounts of Norway: what households spend, what businesses invest, what they earn, or how productive workers are.
- Importance
- Low
- Released
- Quarterly
- Currency
- NOK · Norwegian krone
- Central bank
- Norges Bank
Latest figures
The latest release for MAY, published on 21 August 2025, came in at 0.5%, down from 0.9% the time before.
Over the last 7 releases it ranged from -1.1% to 1.5%, averaging 0.6%; it has been falling for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 21 Aug 2025 | MAY | 0.5% | – | 0.9% |
| 21 Aug 2025 | APR | 0.9% | – | 0.0% ® |
| 21 Aug 2025 | JUN | 1.3% | – | 0.5% |
| 15 May 2025 | MAR | 0.5% | – | 0.4% |
| 15 May 2025 | FEB | 0.4% | – | 2.0% ® |
| 28 Feb 2025 | JAN | 1.5 % | – | -1.1% |
| 28 Jan 2025 | DEC | -1.1% | – | 0.8% ® |
Why it matters
GDP's headline hides its drivers. Household spending is usually the largest part of demand; investment is the most cyclical and tells you about firms' confidence; productivity and labour costs decide whether growth can continue without inflation.
How it is calculated
Statistics Norway (SSB) estimates each component from surveys, tax and trade data, after inflation where noted ("real").
What changes mean
- Strong spending with weak income growth cannot last: watch the savings rate.
- Productivity growth lets wages rise without pushing up prices; unit labour costs show the opposite.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the Norwegian krone and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the Norwegian krone tends to soften and markets price in lower rates.
A short history
The components follow the expenditure approach to GDP set out by Keynesian economics in the 1930s and standardised in the System of National Accounts.
Questions
What is the Norway Household Consumption MoM?
The Norway Household Consumption MoM is one part of the national accounts of Norway: what households spend, what businesses invest, what they earn, or how productive workers are.
What was the latest Norway Household Consumption MoM?
0.5% for MAY, published on 21 August 2025.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.