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.