Norway’s industrial confidence indicator dropped to 0.9 in Q2 2025, from a downwardly revised 3.4 in Q1 and below the historical average of 2.9.
This marked the lowest reading since Q1 2024, amid weaker sentiment among producers of both capital goods and consumer goods, while producers of intermediate goods contributed positively.
New orders from the export markets slightly declined, while those from the domestic markets were unchanged.
Meanwhile, most intermediate goods and consumer goods producers reported a small increase in production, whereas producers of capital goods saw a clear rise.
Many industrial managers noted rising prices in both domestic and export markets, with consumer goods producers experiencing the sharpest growth in cost prices.
On a positive note, overall employment increased, with producers of capital goods responsible for most of the growth.
Looking ahead, the general outlook for Q3 2025 is neutral.