Norway's industrial confidence indicator fell to 8.8 in Q3 of 2021 from a downwardly revised 11.0 in Q2, which was the highest reading since Q4 2010. Growth among producers of capital goods moderated while the output of intermediate and consumer goods rose further. Some of the industrial leaders still experienced limited production, reflecting a lack of raw materials and logistics issues. New orders grew both in domestic and foreign markets. Meantime, price growth is reported for all types of goods. The general outlook for the 4th quarter of 2021 is clearly positive, but the proportion with an optimistic view is somehow lower. The total production volume is expected to rise further, along with new orders, employment, and total stock orders. The strongest growth is expected for producers of intermediate goods and capital goods, while the expected growth is somehow weaker for producers of consumer goods. The historical average of the index is 3.1. source: Statistics Norway

Business Confidence in Norway averaged 2.81 points from 1988 until 2021, 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 2021.

Business Confidence in Norway is expected to be 9.00 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 4.00 points in 2022 and 2.00 points in 2023, according to our econometric models.

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Norway Industry Confidence


Calendar GMT Actual Previous Consensus TEForecast
2021-07-22 06:00 AM Q2 11.3 8.6 10
2021-10-22 06:00 AM Q3 8.8 11.0 7.5
2022-01-21 07:00 AM Q4


Related Last Previous Unit Reference
Business Confidence 8.80 11.00 points Sep/21
Industrial Production Mom 3.30 2.70 percent Sep/21
Industrial Production 7.90 2.70 percent Sep/21
Manufacturing Production 3.60 2.20 percent Sep/21
Capacity Utilization 80.00 79.80 percent Sep/21
New Orders 146.10 97.80 points Dec/17
Changes in Inventories 22636.00 17822.00 NOK Million Sep/21
Bankruptcies 324.00 180.00 Companies and Individuals Sep/21
Car Registrations 14687.00 19948.00 Oct/21
Leading Economic Index 0.60 1.00 percent Sep/21
Mining Production -18.10 -19.50 percent Jun/21

News Stream
Norway Business Morale Weakens in Q3
Norway's industrial confidence indicator fell to 8.8 in Q3 of 2021 from a downwardly revised 11.0 in Q2, which was the highest reading since Q4 2010. Growth among producers of capital goods moderated while the output of intermediate and consumer goods rose further. Some of the industrial leaders still experienced limited production, reflecting a lack of raw materials and logistics issues. New orders grew both in domestic and foreign markets. Meantime, price growth is reported for all types of goods. The general outlook for the 4th quarter of 2021 is clearly positive, but the proportion with an optimistic view is somehow lower. The total production volume is expected to rise further, along with new orders, employment, and total stock orders. The strongest growth is expected for producers of intermediate goods and capital goods, while the expected growth is somehow weaker for producers of consumer goods. The historical average of the index is 3.1.
2021-10-22
Norway Business Confidence Strongest Since 2007
Norway's industrial confidence indicator increased to 11.3 in Q2 of 2021 from an upwardly revised 8.6 in the previous period. It was the highest reading since the first quarter 2007, as production, new orders and stock of orders increased. Manufacturers reported an increase in production of intermediate and consumer goods, with capital goods reporting moderate growth. The general outlook for Q3 of 2021 is overall positive, and the proportion with an optimistic view for the coming quarter is higher than in the previous survey. Although producers of all good types have positive expectations, it is producers of intermediate goods who have the most optimistic view related to the third quarter. Industry leaders report that growth rate for production, new orders and employment are expected to increase further.
2021-07-22
Norway Business Confidence Strongest in Over 2 Years
Norway's industrial confidence indicator increased to a 9-quarter high of 8.2 in Q1 of 2021 from an upwardly revised 3.8 in the previous period. The industrial morale indicator was positive for producers of intermediate goods, while the production volume in consumer goods was approximately unchanged from Q4 2020. By contrast, producers of capital good continued to report a decline in production volume. The general outlook for Q2 of 2021 is overall somewhat positive, and the proportion with an optimistic view for the coming quarter is higher than in the previous survey. The producers of all goods types have positive expectations, with the producers of intermediate goods and consumer goods who have the most optimistic. The industry leaders report that total production volume is expected to grow compared with Q1, while total industry employment is expected to moderate in the coming quarter and new orders from both the domestic and the export market are expected to increase further.
2021-04-22

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.