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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Industrial Confidence fell to 1.2 in January 2026
FMPMonthlyReleased April 2026
Norway Industrial Confidence fell to 1.2 in January 2026, released April 2026, down 1.4 from December's 2.6 reading. The print exceeded the -2 consensus by 3.2. The print is running well above the 12-month average of 0.44.
Latest Release
1.2
Actual
-2
Consensus
2.6
Previous
Median Absolute Error
±3
across last 12 releases
Last Call
Jan 2026
Predicted: 1
Actual: 2.6
Error: -1.6
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
Industrial Confidence (Norway) was reported at 1.20 in April 2026. This beat the market consensus of -2.00 by 3.20. The reading fell from the previous value of 2.60. Trailing 12-month context per ETL data through January 2026.
WHY IT MATTERS
The trailing three releases averaged 1.07, down from the prior three at 3.67. In January readings over the past 3 years, Industrial Confidence has averaged 1.07.
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 3.00.
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 January 2026.
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Industrial Confidence - NO
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About Industrial Confidence — Norway
DEFINITION
Industrial Confidence is a financial indicator that measures the level of optimism or pessimism among businesses in the industrial sector. It provides insight into the overall sentiment and expectations of companies in this sector, which can have a significant impact on economic growth and investment decisions. This indicator is closely monitored by investors, policymakers, and analysts as it reflects the current and future health of the industrial sector and can serve as a leading indicator for the overall economy.
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 (Jan 2026): actual 1.2, consensus -2. Prior reading (Oct 2025): 2.6. Before that (Jul 2025): -0.3.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower 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 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.