Norway's NIMA/DNB Manufacturing PMI rose to 56.8 in March 2019 from 56.3 in the previous month, beating market forecasts of 55.3. Growth was stronger for both production (59.4 from 57.1 in February) and new orders (57.5 from 56.7). Meantime, the rate of job creation remained steady (at 57.8). On the other hand, decreases were seen in suppliers' delivery time (55.5 from 58.2) and inventories (51.6 from 52.6). Manufacturing PMI in Norway averaged 53.20 from 2004 until 2019, reaching an all time high of 64.10 in November of 2006 and a record low of 36.80 in February of 2009.
Manufacturing PMI in Norway is expected to be 54.00 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 54.00 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.