FX.co ★ Norway Manufacturing Activity Recovers in May

In May 2025, Norway's DNB Manufacturing Purchasing Managers' Index (PMI) experienced an increase, reaching 51.2 after nearly hitting a five-year low of 41.2 the previous month, which was subsequently revised upward. The production index notably rose by 7 points to 53.4. The new orders index also saw a significant leap, moving from 38.5 to 48.2, with domestic orders at 48.7 and export orders at 47.9. Conversely, the inventory index fell by 5.4 points to 49.2, which positively influenced the overall PMI reading. However, there was a slight decline in the employment index, down to 52.3, while supplier delivery times improved modestly as the corresponding index decreased by 0.3 points to 52.3. Input prices saw a sharp increase, reflected in the purchase price index which rose by 3.1 points to 60.5. This paints a mixed picture of the manufacturing sector's current dynamics.