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.

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Norway Industry Confidence

Actual Previous Highest Lowest Dates Unit Frequency
-10.10 -17.40 20.10 -22.90 1988 - 2020 points Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-10-21 06:00 AM Q3 2.5 5.1 3.9 5.1
2020-01-20 07:00 AM Q4 0.7 2.3 5
2020-04-23 06:00 AM Q1 -17.5 -0.2 -12
2020-07-23 06:00 AM Q2 -10.1 -17.4 -10
2020-10-22 06:00 AM Q3 -10.1 -16


News Stream
Norway Industrial Sentiment Improves in Q2
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.
2020-07-23
Norway Industry Morale Weakest in 11 Years
Norway's industrial confidence indicator tumbled to -17.5 in the first quarter of 2020 from a revised -0.2 in the previous period. It was the weakest reading since the first quarter of 2009, mainly because the total stock of orders dropped sharply of diminishing expected growth in production activity in the first quarter, as the impact coronavirus pandemic. Producers within consumer goods and capital goods are contributing to the decrease in the industrial confidence indicator. The general outlook for the second quarter of 2020 is strongly affected by Norwegian and global measures against the COVID-19 pandemic and the numbers of leaders that looks pessimistic about the coming quarter is higher than in the previous survey. The industry leaders report downward adjusted future investment plans, and it is expected a sharply decrease in new orders from both the domestic and the export market.
2020-04-23
Norway Industry Morale Weakest in 3 Years
Norway's industrial confidence indicator declined to 0.7 in the fourth quarter of 2019 from a downwardly revised 2.3 in the previous period. It was the weakest reading since the fourth quarter of 2016, mainly because the total stock of orders has flattened out and because of diminishing expected growth in production activity in the fourth quarter. Producers within intermediate goods and capital goods are contributing to the decrease in the industrial confidence indicator. The general outlook for the first quarter of 2020 is positive for overall manufacturing, but the numbers of leaders that looks optimistic about the coming quarter is lower than in the previous survey. Still, the industry leaders report upward adjusted future investment plans, and it is expected an increase in new orders from both the domestic and the export market.
2020-01-20
Norway Q3 Business Confidence at Over 2-Year Low
Norway's industrial confidence indicator declined to 2.5 in the third quarter of 2019 from a downwardly revised 5.1 in the previous period. It was the weakest reading since the second quarter of 2017, as producers of consumer goods reported a flat activity while output of both intermediate and capital goods continued to rise. Additionally, employment growth moderated, with producers of consumer goods reporting decreased employment, while those of intermediate goods and capital recorded growth. Meanwhile, total new orders were flat as demand from foreign market was sluggish, in particular for intermediate goods, and despite of a weak Norwegian currency. The general outlook for the fourth quarter is positive, but the the numbers of leaders that looks optimistic about the coming quarter is lower than in the previous survey. Still, the industry leaders report upward adjusted future investment plans, and it is expected new orders from both the domestic and the export market.
2019-10-21

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.