Norway's industrial confidence indicator stood at 8.9 in the third quarter of 2018, unchanged from a downwardly revised figure in the previous period. It remained at its highest reading since the first quarter 2012, as manufacturers reported an increase in total production of intermediate, capital, and consumers goods. The overall employment showed a rise, with producers of capital and intermediate goods reporting strong growth while those of consumer goods seeing a slight decrease. Meantime, the general outlook for the fourth quarter of 2018 was clearly positive for the different industrial groupings. Industry leaders reported that investment plans are adjusted upwards and employment is expected to increase further. Also, new orders from both the domestic and export market were projected to grow and the total stock of orders is set to rise. Business Confidence in Norway averaged 2.78 Index Points from 1988 until 2018, reaching an all time high of 20.10 Index Points in the fourth quarter of 2006 and a record low of -22.90 Index Points in the fourth quarter of 2008.
Business Confidence in Norway is expected to be 9.50 Index 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 9.10 in 12 months time. In the long-term, the Norway Industry Confidence is projected to trend around 5.10 Index Points in 2020, according to our econometric models.