With this in mind, the growth of the Norwegian index of purchasing managers has been going on since February.
The Norwegian Industry Purchasing Managers’ Index (PMI) is up three points to 60.4 points. In addition, the February index was revised by 1.4 points. The rise indicates a broad increase in industrial activity in March.
According to DNB and Nima, the main index rose to its highest level since spring 2007, except for July 2017.
The main trend is clearly growing, with a clear improvement in the sub-indices of production, orders and employment. The weighted average for these three indices increased by 3.7 points to 60.5.
This is the second time since the financial crisis that all these indices ended above 60 at the same time.
When the index rises above 50, it is an expression of increased activity or growth, while values below 50 can signal a fall.
Delivery time is falling
The delivery time index of suppliers in March decreased by 2.5 points to 68.5. A high index means a long delivery time, which is usually associated with high activity. However, this may reflect other factors, such as delivery problems.
“He is still tall,” the press release said. Inventories of purchased goods in March decreased by 5.4 points to 52.3. It is generally believed that a smaller stock reflects a greater demand. Thus, a decrease in inventories contributes to an increase in the overall index.
The employment index in March rose by 5.3 points to 60.1. This is at the same level as August 2018.
The production index also rose 2.4 points to 61.1 last month. This is the highest level since April 2018. After viewing the February index upwards, the main trend is now showing a clear rise.
The index of new orders in March rose by 3.7 points to 60.3 points. This also indicates a large increase in industrial orders last month. Orders are divided into the domestic market and exports, and they increased by 5.8 points and 1.2 points, respectively.