FX.co ★ Norway Household Consumption Rises For Second Month

Household consumption in Norway grew for the second successive month in November, though at a slower pace, preliminary data from Statistics Norway showed on Thursday.

Household spending rose 1.3 percent month-on-month in November, following a 2.2 percent gain in October, which was the first increase in five months.

The overall growth in November was largely attributed to higher consumption of electricity and heating fuels, with a 2.8 percent increase, followed by other goods by 2.1 percent. Meanwhile, purchases of food, beverages, and tobacco dropped slightly by 0.1 percent.

On a yearly basis, household consumption declined at a faster pace of 5.4 percent in November versus a 3.4 percent fall in the prior month.