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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Manufacturing PMI climbed to 53 in November 2025
FMPMonthlyReleased December 2025
Norway Manufacturing PMI climbed to 53 in November 2025, released December 2025, up 4.8 from October's 48.2 reading.
Latest Release
53.000000
Actual
—
Consensus
48.200000
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 | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.76 | COMMODITIES | Moves with | → View |
| USD/NOK | ▼ Inverse | −0.41 | FOREX | Moves against | → View |
| EUR/NOK | ▲ Direct | +0.32 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Manufacturing PMI (Norway) was reported at 53.00 in December 2025. 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.
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).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Interest Rate Decision (Aug 13).
Auto-generated from current model state · Refreshes on each release · Last update December 2025.
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Manufacturing PMI - NO
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About Manufacturing PMI — Norway
DEFINITION
Manufacturing PMI (Purchasing Managers' Index) is a key economic indicator that measures the health of the manufacturing sector in a country. It is based on a monthly survey of purchasing managers from various industries, providing valuable insights into production levels, new orders, employment, and supplier deliveries. A PMI reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 suggests contraction. This widely followed indicator is used by investors, businesses, and policymakers to assess the overall economic performance and make informed decisions.
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. 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.
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EXPECTED ZONE
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Economic Calendar - NO Events
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | NO | Unemployed Persons | 62.1 | 61.7 | 61.6 | 61.85 | Low |
| 06:00 | NO | Loan Growth YoY | 4.4 | 4.5 | 4.5 | 4.45 | Low |
| 06:00 | NO | Registered Jobless Rate | 2.1 | 1.9 | 2.1 | 2.10 | Low |
| 06:00 | NO | Unemployment Rate n.s.a | 2.1 | 1.9 | 2.1 | 2.10 | Low |