21.10.201909:22:00UTC+00Norway Industrial Confidence Fell In Q3

Norway industrial confidence halved in the third quarter, mainly due to weaker stock of order and lackluster production growth expectations, data from Statistics Norway showed on Monday.

Industrial confidence fell to 2.5 percent in the third quarter from 5.1 percent in the second quarter.

The index reading went below its historical mean pf 3.2 for the first time since the second quarter of 2017.

A decrease for production of intermediate goods was the main cause of the fall of the industrial confidence indicator, but also capital goods showed a decrease, the agency said.

The confidence index for the total volume of production rose slightly to 54.9 in third quarter from 54.3 in the previous quarter.

The confidence indicator for the average employment fell to 52.4 in third quarter from 54.0 in the preceding quarter.

The measure of confidence for the orders received from the domestic market decreased to 52.8 in third quarter and that for orders received from the foreign market fell to 50.3.