The NIMA Manufacturing PMI for Norway rose to 53.8 in August 2019 from an upwardly revised 48.7 in the previous month. The reading pointed to the fastest expansion in manufacturing since May, as new orders (55.6 from 43.5 in July) and output (55.2 from 44.7) recovered. Meanwhile, slower increases were seen in employment (53.6 from 58.4) and suppliers' delivery time (51.3 from 52.8). At the same time, inventories went up at the same pace (51.0). Manufacturing PMI in Norway averaged 53.18 from 2004 until 2019, reaching an all time high of 64.13 in November of 2006 and a record low of 36.84 in February of 2009.
Manufacturing PMI in Norway is expected to be 53.20 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Norway to stand at 54.20 in 12 months time. In the long-term, the Norway Manufacturing PMI is projected to trend around 54.20 in 2020, according to our econometric models.