Norway's NIMA Manufacturing PMI rose to a seasonally adjusted 58.3 in January 2019 from 55.9 in the previous month, easily beating market expectations of 55.1. This was the highest reading since August boosted by new orders (60.5 vs 57.6 in December), production (61.2 vs 59.3) and employment (56.3 vs 52.4). Meanwhile, softer increases were recorded for suppliers' delivery time (58.2 vs 60.0) and inventory (51.6 vs 57.4). Manufacturing PMI in Norway averaged 53.18 from 2004 until 2019, reaching an all time high of 64.10 in November of 2006 and a record low of 36.90 in February of 2009.
Manufacturing PMI in Norway is expected to be 54.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Norway to stand at 53.20 in 12 months time. In the long-term, the Norway Manufacturing PMI is projected to trend around 52.50 in 2020, according to our econometric models.