Norway Manufacturing Activity at 6-Month Low

Norway’s DNB Manufacturing PMI jumped to 53 in November 2025 from 48.2 in October, marking the highest reading since July 2024. The rebound reflected a recovery in the production index, which rose 4.2 points to 53.2, while the new orders index climbed to 54 from 48.3, supported by stronger domestic demand (50.2) and export orders (50.1). Suppliers’ delivery times lengthened to 53.3 from 52.1, indicating increased activity, and the employment index surged to 52.1 from 41.8. In contrast, inventory levels of purchased goods increased to 48.7 from 47, suggesting weaker demand and a slight drag on the overall index. The input price index fell 2.8 points to 54.9 from 57.7, moving below its long-term average. This November reading was the final publication of the DNB Manufacturing PMI, which was officially discontinued by the source, with the last release published on December 1, 2025.

Norway’s DNB Manufacturing PMI dropped to 47.7 in October 2025 from 49.7 in the previous month, marking the third straight month of decline and the lowest reading since April. The production index declined to 47.7 from 51.7 in September, while index for new orders continued to decrease (47.6 vs 49.2 in September), as demand remained subdued in both domestic orders (46.5) and export orders (49.7). At the same time, the employment index weakened, sliding to 42.4 from 46.8. Meanwhile, inventory levels of purchased goods fell further (47.1 vs 48), indicating higher demand and partly supporting the overall index. Delivery times also lengthened (51.8 vs 49.4), signaling higher activity. The index for input prices fell by 1.3 points to 58.2 in October from 59.5 in September, but continued to indicate rising prices.

Norway’s DNB Manufacturing PMI increased to 49.9 in September 2025 from 49.6 in August, marking the second consecutive month of contraction. The production index rose slightly (52.2 vs 52.0 in August), while the employment index also increased (47.3 vs 42.8), marking a sharp improvement after two months of decline. Inventory of purchased goods also fell (48.2 vs 48.8), indicating higher demand and supporting the total index. Meanwhile, new orders weakened (49.5 vs 50.1), with both domestic (47.8) and export orders (47.3) remaining below growth. Supplier delivery times shortened (49.1 vs 52.3), typically reflecting softer activity. The input price index decreased (59.6 vs 61.4), though still pointed to continued rising prices.