Financial News: Norway Industrial Confidence Near 3-Year High

Norway Industrial Confidence Near 3-Year High

01/16/2025 - 04:30:00 (RTTNews)

(RTTNews) - Norway's industrial confidence strengthened to the highest level in nearly three years in the fourth quarter, survey results from Statistics Norway showed on Thursday.

The industrial sentiment index registered 5.5, up from 1.8 in the third quarter of 2024. This was the highest since the first quarter of 2022.

Manufacturing leaders said that the production volume leveled off again in the fourth quarter. The index declined to 49.6 from 51.5.

Industrial leaders reported growth in total industrial employment in the fourth quarter. The corresponding index came in at 54.0, slightly up from 53.9 a quarter ago.

Industrial leaders said that new orders from the domestic market were largely unchanged in the fourth quarter. The indicator posted 49.5. The indicator for new orders received from export markets slid to 49.6 from 50.3.

The general outlook for the first quarter of 2025 was positive for manufacturing. The production outlook index improved to 56.3 from 55.8 and the average employment indicator registered 53.8, up from 53.1.

It is also expected that cost prices and prices of products sold to both the domestic market and the export market will continue to increase in the first quarter.

The index measuring the orders from domestic market edged up to 54.0 from 53.9. Meanwhile, the foreign orders index dropped to 54.2 from 55.1.

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