Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Manufacturing Production YoY climbed to 1.5% in June 2023
FMPMonthlyReleased July 2023
Norway Manufacturing Production YoY climbed to 1.5% in June 2023, released July 2023, up 4.5% from May's -3.0% reading.
Latest Release
1.500000
Actual
—
Consensus
-3.000000
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
Manufacturing Production YoY (Norway) was reported at 1.5% in July 2023. The reading rose from the previous value of -3%.
WHY IT MATTERS
The trailing three releases averaged -0.4%, down from the prior three at 0.37%.
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).
Auto-generated from current model state · Refreshes on each release · Last update July 2023.
SHARE
Manufacturing Production YoY - NO
Loading chart data...
About Manufacturing Production YoY — Norway
DEFINITION
Manufacturing Production YoY (Year-over-Year) is a financial indicator that measures the change in the total output of goods produced by the manufacturing sector over a 12-month period. This indicator is used to assess the health and growth of the manufacturing industry, which is a key driver of economic activity. A positive YoY growth indicates an increase in production, while a negative YoY growth suggests a decline. This information is valuable for investors, policymakers, and businesses in making informed decisions about the state of the economy and potential investment opportunities.
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 2023): actual 1.5 %. Prior reading (Apr 2023): -2.4 %. Before that (Mar 2023): -0.3 %.
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 neutral force in the current projection. This indicator correlates most strongly with USD/NOK (Bullish NOK, r=-0.50) — a useful reference for forex-focused traders.