Norway’s industrial confidence index rose to 3.4 in Q3 2026, up from a downwardly revised 2.5 in the previous quarter and above its long-term average of 2.9. This was the highest level since Q1 2025, reflecting a modest improvement in overall industrial production.
The upturn was driven mainly by a strong increase in output among intermediate goods manufacturers, led by producers of non-ferrous metals. Consumer goods production also posted a moderate rise. By contrast, output of investment goods was unchanged, as continued weakness in oil and gas investment weighed on the segment.
Industrial employment was broadly stable for the fourth consecutive quarter. On the cost side, input prices rose more rapidly than selling prices, indicating some margin pressure.
Looking ahead to the fourth quarter, firms remain optimistic, anticipating higher production, increased employment, and growth in both new orders and order backlogs.
