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Financial News: Norway Industrial Confidence Improves Slightly To -3.9

Norway Industrial Confidence Improves Slightly To -3.9

01/19/2023 - 07:49:00 (RTTNews)

(RTTNews) - Norway's industrial confidence improved marginally in the final quarter of 2022, but still remained in negative territory amid a fall in industrial new orders along with pessimistic general expectations for the first quarter of this year, data from Statistics Norway showed on Thursday.

The industrial confidence index rose to -3.9 in the fourth quarter from -4.4 in the third quarter.The sub-index for the total volume of production was broadly unchanged in the December quarter, falling to 49.7 from 50.9 in the preceding quarter.

The indicator for the average employment also dropped slightly to 52.5 in the fourth quarter from 53.8 in the prior quarter.

The measure of confidence for the orders received in the domestic market declined to 46.3 in the fourth quarter and the index for orders received in the foreign market remained stable at 48.8.

Looking ahead, businesses expect a moderation in production growth in the first quarter and employment expectations weakened. Order expectations for both home and foreign markets decreased.

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