FX.co ★ Norway Manufacturing Growth Slows in March

In March 2025, Norway's DNB Manufacturing PMI experienced a decline, reaching 50.6, compared to 51.9 in February, marking its lowest point in three months. The production index saw a decrease to 51.5 from 52.4, and new orders fell to 48.4 from 50.4, indicating a dip in demand. This was particularly evident as domestic orders plummeted to 44.8 and export orders decreased to 49.4. Despite these challenges, employment figures rose to 54.3, the highest level since mid-2024, signaling robust hiring activity. Supplier delivery times decreased to 50.4, reflecting reduced activity, while inventories of purchased goods increased to 52.3. In terms of pricing, input price inflation showed a significant decline, with the purchase price index dropping to 61.6 from February's 66.1. While respondents observed price reductions for some goods, there were noted increases in timber, steel, and general materials. Looking forward, businesses are maintaining a cautious outlook in light of unpredictable market conditions.