Norway's NIMA/DNB Manufacturing PMI rose to 54.4 in May 2019 from a revised 54 in the previous month, as growth accelerated for output (59.6 vs 56.5 in April) and new orders (57.3 vs 54.3). In addition, inventories increased at faster pace (57.5 vs 55.5) and the pace of job creation was unchanged (at 52.6). On the other hand, suppliers' delivery time eased sharply (50.3 vs 57.5). Manufacturing PMI in Norway averaged 53.21 from 2004 until 2019, reaching an all time high of 64.06 in November of 2006 and a record low of 36.90 in February of 2009.
Manufacturing PMI in Norway is expected to be 54.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Norway to stand at 54.00 in 12 months time. In the long-term, the Norway Manufacturing PMI is projected to trend around 54.20 in 2020, according to our econometric models.