FX.co ★ Norway Loan Debt Growth Steady at 3.9%

As of the end of November 2025, Norway's domestic loan debt among the general public increased by 3.9% compared to the previous year, reaching NOK 7.79 billion. This growth rate was consistent with that of the prior two months and marked the slowest growth since March. The easing of loan debt growth in municipal government to 6.7%, down from 7.4% in October, played a significant role in this moderation. Despite this, there were slight increases in loan debt among households, rising to 4.5% from 4.4%, and non-financial corporations, which inched up to 1.8% from 1.7%. Analyzing the annualized growth for November alone, there was a 3.3% increase in the general public’s loan debt, a deceleration from October's 4.2% growth.