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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Business Confidence held to -8 in October 2015
FMPMonthlyReleased January 2016
Norway Business Confidence held to -8 in October 2015, released January 2016. The reading missed the -6 consensus by 2. The print is running well below the 12-month average of 0.97. Business Confidence is now the lowest in 33 months.
Latest Release
-8
Actual
-6
Consensus
-8
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/NOK | ▼ Inverse | −0.50 | FOREX | Bullish NOK | → View |
| EUR/NOK | ▼ Inverse | −0.45 | FOREX | Bullish NOK | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Business Confidence (Norway) was reported at -8.00 in January 2016. This missed the market consensus of -6.00 by 2.00. The reading was unchanged from the previous release.
WHY IT MATTERS
The trailing three releases averaged -8.00, down from the prior three at -1.00.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/NOK (Bullish NOK). A secondary relationship exists with EUR/NOK, negatively correlated (Bullish NOK).
Auto-generated from current model state · Refreshes on each release · Last update January 2016.
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Business Confidence - NO
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About Business Confidence — Norway
DEFINITION
Business Confidence is a financial indicator that measures the level of optimism or pessimism among business owners and managers about the current and future state of the economy. It is often used as a gauge of overall economic health and can impact investment decisions, hiring practices, and consumer spending. A high level of business confidence indicates a positive outlook and potential for growth, while a low level may signal caution and potential economic downturn. This indicator is closely monitored by economists, policymakers, and investors to assess the overall sentiment and potential direction of the business sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2015): actual -8, consensus -6. Prior reading (Jul 2015): -8. Before that (Apr 2015): -8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/NOK (Bullish NOK, r=-0.50) — a useful reference for forex-focused traders.