Norway's industrial confidence indicator rose to -10.1 in the second quarter of 2020 from a revised -17.4 in the previous period. Still, industrial morale remained in negative territory, as output, total new orders and employment declined due to the impact of the coronavirus pandemic. The general outlook for the third quarter of 2020 is still being affected by measures to combat the spread of COVID-19, with producers of capital and intermediate goods being the most pessimistic. The industry leaders report that future investment plans are adjusted downwards and new orders from both the domestic and the export market are expected to decrease sharply. The same applies to employment, which is expected to decline significantly in the third quarter of 2020 for manufacturing as a whole.
Business Confidence in Norway averaged 2.65 points from 1988 until 2020, 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 August of 2020. source: Statistics Norway
Business Confidence in Norway is expected to be -16.00 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 -4.00 in 12 months time. In the long-term, the Norway Industry Confidence is projected to trend around -4.00 points in 2021 and -1.00 points in 2022, according to our econometric models.