2025.08.2106:12:22UTC+00Norway Personal Spending Growth at 5-Month High

In June 2025, household consumption of goods in Norway increased by 1.3% compared to the previous month, accelerating from a 0.5% rise in May. This marks the third consecutive month of growth, with the fastest pace recorded since January. The increase was primarily driven by a significant boost in spending on electricity and heating fuels, which surged by 8.9% compared to a 4.0% increase in May. There was also a notable rise in expenditures on vehicles and petrol, up by 3.6% from 1.7% previously. In contrast, spending on other goods showed a slight decline, dipping by 0.1% compared to a 0.3% fall in the previous month. The decrease in consumption of food, beverages, and tobacco also intensified, recording a 0.7% drop from May's 0.2% decline. On an annual basis, with adjustments for seasonal variations not accounted for, household consumption registered a growth of 3.8% in June. This represents a slowdown from the 6.6% increase noted in May, which had been the strongest performance in four months.