FX.co ★ Norway Loan Debt Growth Steady in October

Norway's domestic loan debt among the general public witnessed a 3.9% year-on-year rise, totaling NOK 7.76 trillion by the close of October 2025, consistent with the revised figures from the prior month. This represents the slowest loan growth rate since March. The growth rate for credit remained unchanged for non-financial corporations at 1.7% and households at 4.4%. However, loan growth for municipal governments experienced an acceleration, climbing to 7.4% from the previous month's 6.9%. Analyzing the annualized growth for October alone, there was a 4.1% uptick in overall public loans, following a 1.9% increase in September. Specifically, municipal government lending soared by 11.4%, reversing from a previous decline of 5.8%. Non-financial corporations registered a growth of 1.2%, rebounding from a prior decrease of 1.2%. Meanwhile, household lending growth slightly weakened, easing to 4.4% from 5%.