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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Manufacturing Production MoM climbed to 0.7% in May 2026
FMPMonthlyReleased July 2026
Norway Manufacturing Production MoM climbed to 0.7% in May 2026, released July 2026, up 1.3% from April's -0.6% reading. The print exceeded the 0.4% consensus by 0.3%. The print is running well above the 12-month average of 0.29%. Over the past 3 months, Manufacturing Production MoM averaged 0.55%, vs -0.27% in the prior 3-month window. The reading is in the 61st percentile of the trailing 24-month range.
Latest Release
0.7
Actual
0.4
Consensus
-0.6
Previous
Median Absolute Error
±1.14 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 0.35
Actual: 0.7
Error: -0.35
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
THE RELEASE
Manufacturing Production MoM (Norway) was reported at 0.7% in July 2026. This beat the market consensus of 0.4% by 0.3%. The reading rose from the previous value of -0.6%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 0.17%, ranging from -0.9% to 2.4% across 9 releases.
WHY IT MATTERS
The trailing three releases averaged -0.17%, down from the prior three at 0.47%. Volatility over the past year (σ 0.96%) is lower than the prior year (σ 1.7%). In July readings over the past 3 years, Manufacturing Production MoM has averaged 0.1%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 1.14%.
WHAT TO WATCH NEXT
The next release is scheduled for August 7, 2026. 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 July 2026.
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Manufacturing Production MoM - NO
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About Manufacturing Production MoM — Norway
DEFINITION
Manufacturing Production MoM (Month-over-Month) is a key economic indicator that measures the change in the total output of goods produced by the manufacturing sector in a given month. This indicator provides valuable insights into the health and performance of the manufacturing industry, which is a crucial component of a country's overall economic growth. A positive change in Manufacturing Production MoM indicates an increase in production and can be seen as a sign of economic expansion, while a negative change may signal a decline in manufacturing activity. This indicator is closely monitored by investors, policymakers, and analysts to make informed decisions and forecasts about the state of the economy.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. 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 2026): actual 0.7 %, consensus 0.4 %. Prior reading (Apr 2026): -0.9 %. Before that (Mar 2026): 2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher 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.
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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 |