FX.co ★ Norway Business Morale Weakens in Q1

Norway’s industrial confidence index fell to 1.2 in Q1 2026, down from 2.6 in the previous quarter and below its long-term average of 2.9. Sentiment weakened among producers of capital goods, while producers of consumer goods reported stable production. In contrast, producers of intermediate goods made a positive contribution to overall confidence. New orders declined in export markets, whereas domestic orders remained steady. Employment conditions eased: employment fell among producers of consumer goods, while producers of intermediate and capital goods reported unchanged staffing levels. On the price side, industrial managers continued to report rising prices in both domestic and export markets, with stronger increases for consumer goods. Looking ahead, the overall outlook for Q2 2026 remains positive, underpinned by confidence among intermediate goods producers, while capital and consumer goods producers have more subdued expectations.