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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Loan Growth YoY fell to 4.3% in July 2026
FMPMonthlyReleased August 2026
Norway Loan Growth YoY fell to 4.3% in July 2026, released August 2026, down 0.1% from June's 4.4% reading. The reading missed the 4.6% consensus by 0.3%. Loan Growth YoY has now declined for 3 consecutive months. Over the past 3 months, Loan Growth YoY averaged 4.45%, vs 4.47% in the prior 3-month window. Loan Growth YoY is now the lowest in 6 months.
Latest Release
4.3
Actual
4.6
Consensus
4.4
Previous
Median Absolute Error
±0.27 percentage points
across last 12 releases
Last Call
Aug 2026
Predicted: 4.6
Actual: 4.3
Error: +0.3
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| DAX | ▼ Inverse | −0.70 | INDEX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.69 | COMMODITIES | Moves with | → View |
| S&P 500 | ▼ Inverse | −0.49 | INDEX | Moves against | → View |
| Euro STOXX 50 | ▼ Inverse | −0.48 | INDEX | Moves against | → View |
| BTC/USD | ▼ Inverse | −0.41 | CRYPTO | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Loan Growth YoY (Norway) was reported at 4.3% in August 2026. This missed the market consensus of 4.6% by 0.3%. The reading fell from the previous value of 4.4%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 4.24%, ranging from 3.8% to 4.6% across 11 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 4.4%, down from the prior three at 4.47%. Volatility over the past year (σ 0.27%) is comparable than the prior year (σ 0.25%). In August readings over the past 3 years, Loan Growth YoY has averaged 3.96%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with DAX (Bearish DAX). A secondary relationship exists with XAU/USD, positively correlated (Bullish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 0.28%.
WHAT TO WATCH NEXT
The next release is scheduled for September 24, 2026. Same-country events in the next 14 days include Interest Rate Decision (Sep 24).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Loan Growth YoY - NO
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About Loan Growth YoY — Norway
DEFINITION
Loan Growth YoY is a financial indicator that measures the year-over-year change in the amount of loans issued by a company or financial institution. It provides insight into the growth or decline of a company's lending activities and can be used to assess its overall financial health and performance. This indicator is commonly used by investors, analysts, and lenders to evaluate the strength and stability of a company's loan portfolio. A positive Loan Growth YoY indicates an increase in lending, while a negative value suggests a decrease.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 4.3 %, consensus 4.6 %. Prior reading (Jun 2026): 4.4 %. Before that (May 2026): 4.5 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with DAX (Bearish DAX, r=-0.70) — a useful reference for index-focused traders.
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| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | NO | Balance of Trade | 100.4 | 88.8 | 95.1 | 97.75 | Low |