Norway's industrial confidence indicator increased to 1.7 in Q3 of 2020 from a revised -9.6 in the previous period. Industrial morale returned to positive territory for first time since Q4 of 2019, but in still below the historical average of 2.9. The industrial confidence indicator was positive for both the majority of producers of intermediate goods and consumer goods, while it was still negative for producers of capital goods. The general outlook for Q4 of 2020 is still being affected by measures to against the spread of COVID-19, with producers of capital and intermediate goods being the most pessimistic while producers of consumer goods have a positive view of the outlook for the next quarter. The industry leaders report that future investment plans are adjusted downwards and new orders from both the domestic and the export market are expected to decline sharply. The same applies to employment, which is expected to decrease significantly in Q4 of 2020 for manufacturing as a whole. source: Statistics Norway
Business Confidence in Norway averaged 2.65 points from 1988 until 2020, reaching an all time high of 20.10 points in the fourth quarter of 2006 and a record low of -22.90 points in the fourth quarter of 2008. This page provides - Norway Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Industry Confidence - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Business Confidence in Norway is expected to be -7.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Norway to stand at -6.00 in 12 months time. In the long-term, the Norway Industry Confidence is projected to trend around -4.00 points in 2021 and -1.00 points in 2022, according to our econometric models.