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.