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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway NIMA Manufacturing PMI fell to 53.7 in November 2019
FMPMonthlyReleased December 2019
Norway NIMA Manufacturing PMI fell to 53.7 in November 2019, released December 2019, down 1.2 from October's 54.9 reading. The print exceeded the 50.2 consensus by 3.5. Year-over-year, the indicator is down 2.4. Over the past 3 months, NIMA Manufacturing PMI averaged 52.65, vs 51.98 in the prior 3-month window. The reading is in the 19th percentile of the trailing 24-month range.
Latest Release
53.7
Actual
50.2
Consensus
54.9
Previous
Median Absolute Error
±3.03
across last 12 releases
Last Call
Dec 2019
Predicted: 50.6
Actual: 53.7
Error: -3.1
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
NIMA Manufacturing PMI (Norway) was reported at 53.70 in December 2019. This beat the market consensus of 50.20 by 3.50. The reading fell from the previous value of 54.90.
WHY IT MATTERS
The trailing three releases averaged 53.00, up from the prior three at 51.37.
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). Over the last 12 releases, the Sigmacast model's median absolute error is 3.03.
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 December 2019.
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NIMA Manufacturing PMI - NO
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About NIMA Manufacturing PMI — Norway
DEFINITION
The NIMA Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in the National Industrial Manufacturing Association (NIMA). It provides valuable insights into the overall health and growth of the manufacturing industry, taking into account factors such as production levels, new orders, employment, and supplier deliveries. This indicator is closely monitored by investors, policymakers, and economists as it can indicate potential changes in the economy and overall market conditions.
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 2019): actual 53.7, consensus 50.2. Prior reading (Oct 2019): 54.9. Before that (Sep 2019): 50.4.
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 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.