Norwegian Household Consumption m/m reflects a change in durable and non-durable goods consumed by Norwegian households in the reported month compared to the previous month. The indicator covers the consumption of food, beverages, tobacco, electricity, heating fuel, automobiles, motor fuel and other goods.
Household consumption is a part of expenditure-based GDP and is a power that pushes economic growth. Furthermore, the index serves as an indicator of economic growth and consumer optimism. Therefore, higher than expected readings can be seen as positive for NOK quotes.