Norway Industry Confidence2022 Data - 2023 Forecast - 1988-2021 Historical

Norway's industrial confidence indicator slightly rose to -3.9 in Q4 of 2022 from -4.4 in Q3. Nevertheless, industrial morale remained in negative territory as total new orders fell. Production in intermediate goods declined, while growth was recorded among producers of capital goods. Some of the industrial leaders reported limited production, reflecting a lack of raw materials, and input factors, due to corona shutdowns in China, Ukraine war and the energy crisis in Europe. Meanwhile, employment rose slightly compared to the 3rd quarter, while prices increased significantly for all types of goods both at home and export market. The general outlook for Q1 of 2023 is negative among the majority of businesses. Only producers of capital goods were optimistic. The industry leaders expect a moderate decrease in total production volume and a moderate increase in average employment.

Norway's industrial confidence indicator slumped to -4.4 in Q3 of 2022 from a downwardly revised 2.3 in Q2, pointing to the weakest business confidence since Q2 of 2020, due to falls in new orders. The production in intermediate goods declined for the first time since Q2 of 2020, while the growth recorded among producers of both consumers and capital goods. Some of the industrial leaders still experienced limited production, reflecting a lack of raw materials, and input factors, due to lockdown measures in China and Ukraine war. New orders shrank from both foreign and domestic markets. Meantime, employment rose at a softer pace, while prices rose significantly for all types of goods in both markets. The general outlook for Q4 of 2022 is negative. Only producers of capital goods showed optimism. The industrial leaders expect zero growth in total production and a moderate increase in employment. New orders are expected to grow at a softer rate, and a decline in total stock orders.

Norway's industrial confidence indicator plunged to 3.2 in Q2 of 2022 from a downwardly revised 8.2 in Q1, pointing to the weakest business confidence since Q3 of 2020, due to a softer rise in production. The production in consumer goods moderated while the growth among producers of both intermediate and capital goods grew accelerated. Some of the industrial leaders still experienced limited production, reflecting a lack of raw materials, and input factors, due to lockdown measures in China and Ukraine war. New orders showed no growth from foreign markets, while there was still a small growth from domestic markets. Meantime, employment climbed solidly, while prices rose significantly for all types of goods. The general outlook for Q3 of 2022 remained positive. But the proportion with an optimistic view is lower than in the previous survey. The total production volume is estimated to grow further, along with new orders, employment, and total stock orders.