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. source: Statistics Norway

Business Confidence in Norway averaged 2.83 points from 1988 until 2022, 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 December of 2022.

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. In the long-term, the Norway Industry Confidence is projected to trend around -8.00 points in 2023 and 2.00 points in 2024, according to our econometric models.

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Norway Industry Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-07-21 06:00 AM Q2 3.2 8.2 8.5
2022-10-20 06:00 AM Q3 -4.4 2.3 5


Related Last Previous Unit Reference
Business Confidence -4.40 2.30 points Sep 2022
Industrial Production Mom -2.40 3.10 percent Sep 2022
Industrial Production 0.90 4.70 percent Sep 2022
Manufacturing Production 0.10 -1.10 percent Sep 2022
Capacity Utilization 80.60 80.90 percent Sep 2022
New Orders 146.10 97.80 points Dec 2017
Changes in Inventories 53085.00 49246.00 NOK Million Sep 2022
Bankruptcies 358.00 360.00 Companies and Individuals Oct 2022
Car Registrations 17746.00 13808.00 Nov 2022
Mining Production 3.00 3.00 percent Sep 2022
Leading Economic Index 0.40 0.70 percent Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-4.40 2.30 20.10 -22.90 1988 - 2022 points Quarterly
SA

News Stream
Norway Q3 Business Morale Falls to Over 2-Year Low
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.
2022-10-20
Norway Business Morale Falls to Near 2-Year Low
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.
2022-07-21
Norway Business Confidence Improves Slightly
Norway's industrial confidence indicator inched up to 8.8 in Q1 of 2022 from 8.6 in Q4 2021, amid increasing in production and prices. The production in both intermediate and capital goods grew accelerated while the growth among producers of consumer goods moderated. Some of the industrial leaders still experienced limited production, reflecting a lack of raw materials, skilled labour and input factors. New orders grew accelerated for both domestic and foreign markets. Meantime, price significant growth is reported for all types of goods. The general outlook for the 2nd quarter of 2022 is clearly positive, and the proportion with an optimistic view is slightly higher than in the previous survey. The total production volume is expected to grow further, along with new orders, employment, and total stock orders. The strongest growth is estimated for producers of capital goods, while the expected growth is somehow weaker for producers of and intermediate and consumer goods.
2022-04-21