挪威10年期国债 (Norway10Y) 加自选

挪威DNB制造业采购经理人指数从上个月的51.2降至2025年6月的49.3。生产指数从53.3降至48.6，而新订单（44.5对5月的48.1）和库存水平（48.5对49）继续恶化。此外，交货时间延长（53.5比52.5）。与此同时，就业率（52.9比52.4）和库存水平（54.9比52.6）有所上升。6月份投入价格指数下跌0.5点，至60点。

Norway’s DNB Manufacturing PMI dropped to 49.3 in June 2025 from 51.2 in the previous month. The production index declined to 48.6 from 53.3, while it continued to worsen for new orders (44.5 vs 48.1 in May) and inventory levels (48.5 vs 49). In addition, delivery times lengthened (53.5 vs 52.5). Meanwhile, increases were seen in employment (52.9 vs 52.4) and inventory levels (54.9 vs 52.6). The index for input prices fell by 0.5 points to 60 in June.

挪威的零售销售在2025年5月环比停滞，而前一个月下调后的增长率为0.6%。停滞主要是由于ICT设备（-6.2%对4月份的12.8%）、其他家用设备（-3%对1.8%）、不在商店/摊位的设备（-2.4%对0.5%）和汽车燃料（-1.7%对-1.1%）的销售大幅下降。此外，食品、饮料等（1%对2.5%）和其他商品（0.2%对1.5%）的贸易增长放缓。与去年同期相比，5月份零售活动小幅增长0.1%，为七个月来的最低水平，与前一时期向上修正的4.3%增长相比大幅放缓。

Retail sales in Norway stalled month-on-month in May 2025 from a downwardly revised 0.6% rise in the previous month. The stagnation was mainly due to significant declines seen in sales of ICT equipment (-6.2% vs 12.8% in April), other household equipment (-3% vs 1.8%), those not in stores/stalls (-2.4% vs 0.5%), and automotive fuel (-1.7% vs -1.1%). Additionally, trade growth moderated for food, beverages etc (1% vs 2.5%) and other goods (0.2% vs 1.5%). On a year-on-year basis, retail activity rose marginally by 0.1% in May, the lowest in seven months and slowing sharply from an upwardly revised 4.3% increase in the preceding period.

挪威经季节性调整的失业率从上个月略微修正的4.4%上升到2025年5月的4.6%。这是自2021年7月以来的最高读数，失业人数增加了7000人，达到14.1万人。与此同时，就业率从上月的69.3%上升到三个月来的最高点69.8%，就业人数增加了1.8万人，达到290.6万人。5月份劳动力参与率从4月份的72.6%攀升至73.1%，为2023年8月以来的最高水平。与此同时，衡量15至24岁求职者人数的青年失业率从13.5%上升至14.1%。

Norway’s seasonally adjusted unemployment rate rose to 4.6% in May 2025 from a marginally revised 4.4% in the previous month. This marked the highest reading since July 2021, as the number of unemployed persons increased by 7 thousand to 141 thousand. Meanwhile, the employment rate went up to a three-month high of 69.8% from 69.3% in the prior month, with the number of employed individuals rising by 18 thousand to 2.906 million. The labor force participation rate climbed to 73.1% in May, the highest level since August 2023, from 72.6% in April. In the meantime, the youth unemployment rate, which measures the number of job-seekers between 15 to 24 years old, increased to 14.1% from 13.5%.

截至2025年5月底，挪威公众的国内贷款债务同比增长4.1%，达到76.4亿挪威克朗，与上月持平。这仍然是2023年9月以来国内贷款债务的最高增长率，因为市政府的贷款债务增加了（7.6%对4月份的7.4%），而家庭（4.2%）和非金融公司（2.7%）的贷款债务保持不变。

The general public’s domestic loan debt in Norway rose by 4.1% year-on-year to NOK 7.64 billion at the end of May 2025, the same pace as in the previous month. This remained the highest growth in domestic loan debt since September 2023, as loan debt of municipal government increased (7.6% vs 7.4% in April), while that of households (at 4.2%) and non-financial corporations (at 2.7%) remained unchanged.