In the fourth quarter, Norway's industrial confidence reached its highest point in nearly three years, according to survey findings released by Statistics Norway. The industrial sentiment index increased to 5.5, up from 1.8 in the third quarter of 2024, marking the highest level since the first quarter of 2022.
Manufacturing leaders noted that production volume stabilized once more during the fourth quarter, with the related index decreasing to 49.6 from 51.5. Industrial leaders also observed growth in overall industrial employment, as reflected by the corresponding index rising slightly to 54.0 compared to 53.9 in the previous quarter.
Regarding new orders from the domestic market, industrial leaders reported little change in the fourth quarter, with the indicator registering at 49.5. Meanwhile, the index for new orders from export markets declined slightly to 49.6 from 50.3.
Looking ahead to the first quarter of 2025, the overall outlook for manufacturing appeared positive. The production outlook index rose to 56.3 from 55.8, and the average employment indicator increased to 53.8 from 53.1.
Expectations are also set for continued increases in both cost prices and product prices in both domestic and export markets in the upcoming quarter. The index for domestic market orders edged up to 54.0 from 53.9, though the index for foreign orders dropped to 54.2 from 55.1.
