Norway Industrial Confidence
| Low | -2.2 | -3.7 |
-5.1
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| Last release | Importance | Actual | Forecast |
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Norwegian Industrial Confidence Index (ICI) reflects the optimism of industrial companies regarding the current economic state. The index is calculated on a quarterly basis, based on the following three questions from the industry-wide business survey conducted by Statistics Norway:
- The actual change in the total orders compared to the previous quarter
- An expected change in production in the next quarter compared to the current one
- Evaluation of own inventories in warehouses, available for sale.
The sample includes about 800 business units with at least 300 employees. The final index is calculated as the arithmetic mean of the answers. A reading above 50 indicates a positive sentiment of the industrial production sector.
The ICI is considered a leading indicator of production in manufacturing sectors. If respondents express an expected production growth, this may indicate an upcoming increase in the production output. If an increase in orders is reported, this may indicate a future growth in production connected with the need to fulfill the received orders. An increase in inventories indicates a decrease in sales activity, and therefore this component is used with an inverted sign when calculating the index.
A higher than expected index growth is seen as positive for the Norwegian krone quotes.
Last values:
actual data
forecast
The chart of the entire available history of the "Norway Industrial Confidence" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
