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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Industrial Production YoY fell to -11.1% in June 2023
FMPMonthlyReleased July 2023
Norway Industrial Production YoY fell to -11.1% in June 2023, released July 2023, down 6.2% from May's -4.9% reading.
Latest Release
-11.100000
Actual
—
Consensus
-4.900000
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
Industrial Production YoY (Norway) was reported at -11.1% in July 2023. The reading fell from the previous value of -4.9%.
WHY IT MATTERS
The trailing three releases averaged -7.07%, down from the prior three at -4.2%.
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).
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 July 2023.
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Industrial Production YoY - NO
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About Industrial Production YoY — Norway
DEFINITION
Industrial Production YoY (Year-over-Year) is a key economic indicator that measures the change in the total output of the manufacturing, mining, and utilities sectors over a 12-month period. It provides valuable insights into the health and growth of a country's industrial sector, which is a crucial component of its overall economic performance. This indicator is closely monitored by investors, policymakers, and analysts as it can signal potential shifts in the economy and help inform business and investment decisions. A positive YoY growth in industrial production indicates a strong and expanding industrial sector, while a negative growth may suggest a slowdown or contraction.
WHY THIS INDICATOR MATTERS
Manufacturing and factory-order series capture cyclical inflection earlier than aggregate output, and have outsized influence on industrial-sector equities. 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 (May 2023): actual -11.1 %. Prior reading (Apr 2023): -4.7 %. Before that (Mar 2023): -5.4 %.
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.