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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway GDP Mainland MoM climbed to 0.0% in September 2024
FMPQuarterlyReleased November 2024
Norway GDP Mainland MoM climbed to 0.0% in September 2024, released November 2024, up 0.1% from August's -0.1% reading. The reading missed the 0.4% consensus by 0.4%. The print is running well below the 12-month average of 0.08%. The reading is in the 45th percentile of the trailing 24-month range.
Latest Release
0
Actual
0.4
Consensus
-0.1
Previous
Median Absolute Error
±0.29 percentage points
across last 12 releases
Last Call
Nov 2024
Predicted: 0.4
Actual: 0
Error: +0.4
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
GDP Mainland MoM (Norway) was reported at 0% in November 2024. This missed the market consensus of 0.4% by 0.4%. The reading rose from the previous value of -0.1%.
WHY IT MATTERS
The trailing three releases averaged 0.07%, up from the prior three at 0.03%.
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). Over the last 12 releases, the Sigmacast model's median absolute error is 0.29%.
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 November 2024.
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GDP Mainland MoM - NO
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About GDP Mainland MoM — Norway
DEFINITION
GDP Mainland MoM stands for Gross Domestic Product Mainland Month-over-Month and is a key economic indicator that measures the change in the total value of goods and services produced within a country's borders on a monthly basis. This indicator provides valuable insights into the overall health and growth of a country's economy, making it a crucial tool for investors, policymakers, and businesses to track and analyze economic trends.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Sep 2024): actual 0 %, consensus 0.4 %. Prior reading (Sep 2024): -0.1 %. Before that (Sep 2024): 0.4 %.
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.