Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks to Households for Norway
NORFCSODCHGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.53
Year-over-Year Change
-23.11%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks the outstanding loans from commercial banks to households in Norway as a percentage of GDP. It provides insights into household borrowing and financial health.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks to Households for Norway series measures the ratio of outstanding loans from commercial banks to Norwegian households relative to the country's gross domestic product. This metric is a key indicator of household indebtedness and can inform assessments of financial stability and consumer credit conditions.
Methodology
The data is collected and calculated by the Norwegian central bank based on reports from commercial banks.
Historical Context
This trend is closely monitored by policymakers, regulators, and economists to evaluate household leverage and potential risks to the financial system.
Key Facts
- Outstanding household loans were 92.7% of GDP in Norway as of the latest data.
- Household debt levels in Norway are among the highest in Europe.
- Rapid growth in household borrowing has been a concern for Norwegian policymakers.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the outstanding loans from commercial banks to Norwegian households as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into household indebtedness and financial stability, which are important considerations for policymakers, regulators, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Norwegian central bank based on reports from commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and regulators closely monitor this indicator to assess household leverage and potential risks to the financial system, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Norwegian central bank, with a typical update lag of several months.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks to Households for Norway (NORFCSODCHGGDPPT), retrieved from FRED.