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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway DNB Manufacturing PMI climbed to 53 in November 2025
FMPMonthlyReleased December 2025
Norway DNB Manufacturing PMI climbed to 53 in November 2025, released December 2025, up 4.8 from October's 48.2 reading. The print exceeded the 48.5 consensus by 4.5. The print is running well above the 12-month average of 50.21. Over the past 3 months, DNB Manufacturing PMI averaged 48.8, vs 50.25 in the prior 3-month window. DNB Manufacturing PMI is now the highest in 15 months.
Latest Release
53
Actual
48.5
Consensus
48.2
Previous
Median Absolute Error
±1.49
across last 12 releases
Last Call
Dec 2025
Predicted: 47.9
Actual: 53
Error: -5.1
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 |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.76 | COMMODITIES | Bullish XAU | → View |
| USD/NOK | ▼ Inverse | −0.41 | FOREX | Bearish USD | → View |
| EUR/NOK | ▲ Direct | +0.32 | FOREX | Bullish EUR | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
DNB Manufacturing PMI (Norway) was reported at 53.00 in December 2025. This beat the market consensus of 48.50 by 4.50. The reading rose from the previous value of 48.20. Trailing 12-month context per ETL data through December 2025.
WHY IT MATTERS
The trailing three releases averaged 50.20, down from the prior three at 50.57. In December readings over the past 3 years, DNB Manufacturing PMI has averaged 51.20.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with USD/NOK, negatively correlated (Bearish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 1.49.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Norges Bank Interest Rate Decision (Jun 18) and Interest Rate Decision (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update December 2025.
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DNB Manufacturing PMI - NO
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About DNB Manufacturing PMI — Norway
DEFINITION
DNB Manufacturing PMI is a leading financial indicator that measures the performance of the manufacturing sector in a specific country. It is based on a monthly survey of purchasing managers, providing valuable insights into the current economic conditions and future trends. This indicator is widely used by investors, policymakers, and businesses to make informed decisions and assess the overall health of the manufacturing industry. With its timely and accurate data, DNB Manufacturing PMI is a crucial tool for monitoring economic growth and identifying potential risks and opportunities.
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 (Nov 2025): actual 53, consensus 48.5. Prior reading (Oct 2025): 47.7. Before that (Sep 2025): 49.9.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with XAU/USD (Bullish XAU, r=0.76) — a useful reference for commodities-focused traders.