Norway's industrial confidence indicator declined to 0.7 in the fourth quarter of 2019 from a downwardly revised 2.3 in the previous period. It was the weakest reading since the fourth quarter of 2016, mainly because the total stock of orders has flattened out and because of diminishing expected growth in production activity in the fourth quarter. Producers within intermediate goods and capital goods are contributing to the decrease in the industrial confidence indicator. The general outlook for the first quarter of 2020 is positive for overall manufacturing, but the numbers of leaders that looks optimistic about the coming quarter is lower than in the previous survey. Still, the industry leaders report upward adjusted future investment plans, and it is expected an increase in new orders from both the domestic and the export market.

Business Confidence in Norway averaged 2.91 points from 1988 until 2019, 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. source: Statistics Norway

Business Confidence in Norway is expected to be 4.00 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 6.50 in 12 months time. In the long-term, the Norway Industry Confidence is projected to trend around 5.10 points in 2020, according to our econometric models.

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Norway Industry Confidence

Actual Previous Highest Lowest Dates Unit Frequency
0.70 2.30 20.10 -22.90 1988 - 2019 points Quarterly
SA

Calendar GMT Actual Previous Consensus TEForecast
2019-04-25 06:00 AM Q1 6.9 8.7 9.5
2019-07-23 06:00 AM Q2 5.6 6.8 5.1
2019-10-21 06:00 AM Q3 2.5 5.1 3.9 5.1
2020-01-20 07:00 AM Q4 0.7 2.3 5
2020-04-23 06:00 AM Q1 0.7 4


News Stream
2019-10-21
Norway Q3 Business Confidence at Over 2-Year Low
Norway's industrial confidence indicator declined to 2.5 in the third quarter of 2019 from a downwardly revised 5.1 in the previous period. It was the weakest reading since the second quarter of 2017, as producers of consumer goods reported a flat activity while output of both intermediate and capital goods continued to rise. Additionally, employment growth moderated, with producers of consumer goods reporting decreased employment, while those of intermediate goods and capital recorded growth. Meanwhile, total new orders were flat as demand from foreign market was sluggish, in particular for intermediate goods, and despite of a weak Norwegian currency. The general outlook for the fourth quarter is positive, but the the numbers of leaders that looks optimistic about the coming quarter is lower than in the previous survey. Still, the industry leaders report upward adjusted future investment plans, and it is expected new orders from both the domestic and the export market.

2019-07-23
Norway Industrial Confidence Weakest in Near 2 Years
Norway's industrial confidence indicator fell to 5.6 in the second quarter of 2019 from a downwardly revised 6.8 in the previous period. This was the weakest industrial confidence since the third quarter 2016. Manufacturers reported an increase in total production of consumer, capital,with intermediate goods reporting moderate growth; and the overall employment rose, with oil investment reporting strong growth. Still, new orders from both the domestic and export market increased. The general outlook for the third quarter of 2019 is clearly positive for manufacturing, but the numbers of leaders with an optimistic view of the coming quarter is somewhat lower than in the previous survey. Industry leaders report that growth rate for new order and total stocks of order are expected to increase further. Meantime, the growth rate in exports market prices is expected to fall in the third quarter.

2019-04-25
Norway Industry Morale Weakest in A Year
Norway's industrial confidence indicator fell to 6.9 in the fourth quarter of 2018 from a downwardly revised 8.7. It was the weakest industrial confidence since the first quarter last year. Manufacturers reported an increase in total production of intermediate, capital, consumer goods; and the overall employment rose, with both oil investment and contract volume reporting strong growth. Still, new orders from both the domestic and export market increased. The general outlook for the second quarter of 2019 is clearly positive for manufacturing. Industry leaders report that growth rate for employment, new order and total stocks of order are expected to increase further. Also, optimism is also reflected in the indicator for future investment, where it is reported that approved investment plans are adjusted upwards.


Norway Industry Confidence
In Norway, Industrial confidence indicator (ICI) Business tendency survey is the arithmetic average of the responses (balances) to the questions on production expectations, total stock of orders and inventories of own products. The indicator is a guide to the level of industrial production since: an expected rise in the level of output gives signals of increased production in the forthcoming quarter; an increase in the total stock of orders indicates a higher level of production due to the future fulfillment of these orders; an increase in the inventories of own products indicates slow sales and reduced activity.