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Norway's industrial confidence indicator declined to 2.5 in the third quarter of 2019 from a downwardly revised 5.1 in the previous period. It was the weakest reading since the second quarter of 2017, as producers of consumer goods reported a flat activity while output of both intermediate and capital goods continued to rise. Additionally, employment growth moderated, with producers of consumer goods reporting decreased employment, while those of intermediate goods and capital recorded growth. Meanwhile, total new orders were flat as demand from foreign market was sluggish, in particular for intermediate goods, and despite of a weak Norwegian currency. The general outlook for the fourth quarter is positive, but the the numbers of leaders that looks optimistic about the coming quarter is lower than in the previous survey. Still, the industry leaders report upward adjusted future investment plans, and it is expected new orders from both the domestic and the export market.

Norway's industrial confidence indicator fell to 5.6 in the second quarter of 2019 from a downwardly revised 6.8 in the previous period. This was the weakest industrial confidence since the third quarter 2016. Manufacturers reported an increase in total production of consumer, capital,with intermediate goods reporting moderate growth; and the overall employment rose, with oil investment reporting strong growth. Still, new orders from both the domestic and export market increased. The general outlook for the third quarter of 2019 is clearly positive for manufacturing, but the numbers of leaders with an optimistic view of the coming quarter is somewhat lower than in the previous survey. Industry leaders report that growth rate for new order and total stocks of order are expected to increase further. Meantime, the growth rate in exports market prices is expected to fall in the third quarter.

Norway's industrial confidence indicator fell to 6.9 in the fourth quarter of 2018 from a downwardly revised 8.7. It was the weakest industrial confidence since the first quarter last year. Manufacturers reported an increase in total production of intermediate, capital, consumer goods; and the overall employment rose, with both oil investment and contract volume reporting strong growth. Still, new orders from both the domestic and export market increased. The general outlook for the second quarter of 2019 is clearly positive for manufacturing. Industry leaders report that growth rate for employment, new order and total stocks of order are expected to increase further. Also, optimism is also reflected in the indicator for future investment, where it is reported that approved investment plans are adjusted upwards.

Norway's industrial confidence indicator edged up to 9 in the fourth quarter of 2018 from 8.9 in the previous period and little-changed from the second quarter's near seven-year high. Manufacturers reported an increase in total production of intermediate, capital, and consumer goods; and the overall employment rose, with producers of capital reporting strong growth, due to higher workloads and large projects among petroleum-related producers. Still, new orders from both the domestic and export market increased at a slower pace. The index for the general outlook for the first quarter of 2019 is now over 60 and is at its highest level since the fourth quarter of 2010. Industry leaders report that investment plans are slightly adjusted upwards and the growth rate for employment is expected to increase further. New orders from both the home and export market are also expected to increase further. The same is expected for the total stocks of orders.