In the fourth quarter of 2025, Norway's industrial confidence index rose to 2.6, improving from an upwardly revised 0.2 in the previous quarter. Despite this increase, the index still fell short of its long-term average of 2.9. Notably, sentiment among producers of intermediate goods showed improvement, while those manufacturing consumer goods experienced no change in production levels. Conversely, capital goods producers had a negative impact on the overall confidence index.
While both export and domestic markets saw a decline in new orders, the overall outlook remained optimistic. Industrial managers reported ongoing price increases in both domestic and export markets, with consumer goods experiencing more pronounced price rises.
Employment conditions remained challenging, as producers of both capital and intermediate goods reported no changes in employment levels. Looking forward to the first quarter of 2026, the outlook is generally positive. This is largely driven by confidence among intermediate goods producers, while producers of capital and consumer goods maintained a neutral stance regarding future expectations.
