Production, Sales, Work Started and Orders: Passenger Car Registrations: Economic Activity: Wholesale and Retail Trade and Repair of Motor Vehicles and Motorcycles for Norway
NORSACRMISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.39
Year-over-Year Change
208.73%
Date Range
1/1/1955 - 1/1/2024
Summary
This economic trend measures passenger car registrations in Norway, which serve as an indicator of economic activity in the wholesale and retail trade and repair of motor vehicles and motorcycles.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Passenger car registrations track new vehicle sales and are a barometer for consumer demand and confidence. This data is used by economists and policymakers to assess the health of the Norwegian automotive and transportation sectors.
Methodology
The data is collected by the national statistical agency based on vehicle registration records.
Historical Context
Trends in passenger car registrations provide insights into consumer spending and investment, influencing analysis of broader economic conditions.
Key Facts
- Norway is a leading automotive market in Scandinavia.
- Passenger car registrations peaked in 2021 after declining in 2020.
- Electric vehicle sales have surged in Norway in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures new passenger car registrations in Norway, which indicate consumer demand and economic activity in the automotive and transportation sectors.
Q: Why is this trend relevant for users or analysts?
A: Trends in passenger car registrations provide insights into consumer spending, business investment, and broader economic conditions in Norway.
Q: How is this data collected or calculated?
A: The data is collected by Norway's national statistical agency based on vehicle registration records.
Q: How is this trend used in economic policy?
A: Passenger car registration data is used by economists, policymakers, and industry analysts to assess the health of the Norwegian automotive market and make informed decisions.
Q: Are there update delays or limitations?
A: This data is published monthly with a lag of several weeks, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Production, Sales, Work Started and Orders: Passenger Car Registrations: Economic Activity: Wholesale and Retail Trade and Repair of Motor Vehicles and Motorcycles for Norway (NORSACRMISMEI), retrieved from FRED.