Markets Actual Q4/24 Q1/25 Q2/25 Q3/25
Stock Market (points) 1689.84 1612 1592 1573 1553
Currency 11.06 11.24 11.38 11.52 11.66
Government Bond 10Y (%) 3.70 3.88 3.83 3.79 3.74

Overview Actual Q4/24 Q1/25 Q2/25 Q3/25
GDP Growth Rate (%) -1.80 0.6 0.5 0.6 0.6
GDP Annual Growth Rate (%) 3.50 3.2 3.6 2.2 1.8
Unemployment Rate (%) 4.00 3.8 4.1 4.3 4.2
Inflation Rate (%) 2.60 1.7 2.6 3.9 3.4
Interest Rate (%) 4.50 4 3.5 3 3
Balance of Trade (NOK Million) 63710.00 58600 59800 57800 45000
Current Account (NOK Million) 231839.00 265000 220000 200000 180000
Manufacturing PMI (points) 52.40 53 52 52
Business Confidence (points) 1.50 0 2.5 5 7
Consumer Confidence (points) -14.40 -14 -10 -6 -1
Retail Sales MoM (%) -0.30 0.15 0 0
Current Account to GDP (% of GDP) 17.50 24.6
Government Debt to GDP (% of GDP) 44.30 42
Government Budget (% of GDP) 16.30 13

GDP Actual Q4/24 Q1/25 Q2/25 Q3/25
GDP Growth Rate (%) -1.80 0.6 0.5 0.6 0.6
GDP Annual Growth Rate (%) 3.50 3.2 3.6 2.2 1.8
GDP Constant Prices (NOK Million) 1459260.00 1564483 1527716 1479925 1443757
Gross National Product (NOK Million) 1425667.00 1408102 1428489 1457032 1451329
Gross Fixed Capital Formation (NOK Million) 268582.00 274324 257143 262565 273416
GDP from Mining (NOK Million) 1575.00 1688 1557 1676 1603
GDP from Agriculture (NOK Million) 6983.00 5897 6156 5953 7109
GDP from Utilities (NOK Million) 8120.00 8091 8265 8135 8266
GDP from Construction (NOK Million) 57948.00 61686 61754 60085 58991
GDP from Public Administration (NOK Million) 67539.00 68587 68938 68581 68755
GDP from Manufacturing (NOK Million) 72890.00 72617 73432 72733 74202
GDP (USD Billion) 485.51 493
GDP per Capita (USD) 78939.40 80123
GDP per Capita PPP (USD) 90500.85 91858
Full Year GDP Growth (%) 0.50 1.5

Labour Actual Q4/24 Q1/25 Q2/25 Q3/25
Unemployment Rate (%) 4.00 3.8 4.1 4.3 4.2
Long Term Unemployment Rate (%) 0.60 0.4 0.7 0.9 0.8
Youth Unemployment Rate (%) 12.40 12.2 12.5 12.7 12.6
Labour Costs (points) 141.38 133 133 147 147
Wages in Manufacturing (NOK/Month) 56550.00 58084 59675 60769 58925
Wage Growth (%) 5.15 4.6 4.4 4.2 4.2
Wages (NOK/Month) 56560.00 58105 60468 60071 58936
Population (Million) 5.49 5.57

Prices Actual Q4/24 Q1/25 Q2/25 Q3/25
Inflation Rate (%) 2.60 1.7 2.6 3.9 3.4
Consumer Price Index CPI (points) 134.50 134 136 139 138
Harmonised Consumer Prices (points) 136.00 136 138 141 140
Core Inflation Rate (%) 2.70 3.8 3.2 3 2.6
Core Consumer Prices (points) 131.20 133 133 134 134
GDP Deflator (points) 116.30 117 116 121 120
Producer Prices (points) 120.90 114 113 113 118
Producer Prices Change (%) -3.50 -1 1 -2.3 2
Food Inflation (%) 3.90 3.4 3.6 3.2 2.8
Core Inflation Rate MoM (%) 0.20 0.5 0.3 0.3
CPI Housing Utilities (points) 137.10 138 141 140 139
CPI Transportation (points) 137.60 137 138 138 138
Inflation Rate MoM (%) 0.60 -0.3 0.3 0.2 -0.2

Money Actual Q4/24 Q1/25 Q2/25 Q3/25
Interest Rate (%) 4.50 4 3.5 3 3
Interbank Rate (%) 4.70 4.2 3.7 3.2 3.2
Loans to Private Sector (NOK Million) 2292784.00 2322299 2349622 2334691 2334054
Deposit Interest Rate (%) 3.50 3 2.5 2 2
Loan Growth (%) 3.70 4 4.2 4.3 4.4
Lending Rate (%) 5.50 5 4.5 4 4
Private Debt to GDP (%) 278.52 230

Trade Actual Q4/24 Q1/25 Q2/25 Q3/25
Balance of Trade (NOK Million) 63710.00 58600 59800 57800 45000
Current Account (NOK Million) 231839.00 265000 220000 200000 180000
Imports (NOK Million) 98864.00 86400 79200 84200 87000
Exports (NOK Million) 162574.00 145000 139000 142000 132000
Crude Oil Production (BBL/D/1K) 1849.00 1770 1770
Current Account to GDP (% of GDP) 17.50 24.6

Business Actual Q4/24 Q1/25 Q2/25 Q3/25
Manufacturing PMI (points) 52.40 53 52 52
Business Confidence (points) 1.50 0 2.5 5 7
Manufacturing Production MoM (%) -0.80 -1.4 0.5 -0.5 0.6
Leading Economic Index (%) 0.00 0.5 0.2 -0.4 0.5

Consumer Actual Q4/24 Q1/25 Q2/25 Q3/25
Consumer Confidence (points) -14.40 -14 -10 -6 -1
Retail Sales MoM (%) -0.30 0.15 0 0
Retail Sales YoY (%) -0.60 1.9 2 2
Consumer Spending (NOK Million) 466696.00 476837 476302 476940 475097
Disposable Personal Income (NOK Million) 359450.00 343585 365538 367358 365920
Consumer Credit (NOK Million) 4407913.00 4437505 4469134 4458934 4487255
Gasoline Prices (USD/Liter) 1.99 2.01 2.03 2.06 2.09
Household Spending (%) 1.10 2.5 2.3 2.3

Housing Actual Q4/24 Q1/25 Q2/25 Q3/25
Housing Index (points) 337.20 320 338 345
House Price Index YoY (%) 4.90 1.5 1.2 1.2
House Price Index MoM (%) 0.40 0.5 0.3 0.3

Government Actual Q4/24 Q1/25 Q2/25 Q3/25
Government Debt to GDP (% of GDP) 44.30 42
Government Budget (% of GDP) 16.30 13
Government Spending to GDP (% of GDP) 46.40 47