Norwegian Construction Industry Shows Weakest Belief in Market Improvement: NHO Survey

36 per cent of companies expect tougher times ahead, shows NHO’s member survey for July.

This is more than in June, when 31 per cent of those questioned believed that the market situation in the next six months will get worse. Fewer are also optimistic – 12 per cent expect improvement, while the figure last month was 14 per cent.

There is a preponderance of pessimists in almost all industries, the member survey shows. Only two industries – NHO Transport and Offshore Norway – have a slight preponderance of companies that expect improvement in the future. The outlook is weakest among media companies, in the car industry and in the construction industry.

Pessimism throughout the country

The pessimism has spread across the country, and all counties now have a preponderance of pessimists. The situation looks darkest in the interior, where only 8 percent expect an improvement in the market situation in the next six months. 43 percent expect deterioration. The answers are still somewhat better in July than in June for the interior.

The oil county of Rogaland comes out best in the survey, followed by Nordland and Trøndelag.

– Predominance of pessimists in all counties, and weakening almost everywhere. The pessimism is greatest in Eastern Norway. At least in Møre and Romsdal and Rogaland, NHO writes in the summary.

Slight decline from June

The general market situation is perceived to have worsened slightly in July compared to the previous month.

26 percent respond that the market situation is good as of today, down from 28 percent in June. 20 percent say it is bad, which is unchanged from the month before.

NHO describes that there are still “stretches in the team” when it comes to the current situation. The best is for NHO Transport, Renewable Norway, Finance Norway and Seafood Norway. Those who state that they are struggling are construction, the car industry and the media companies.

The survey was carried out in the period 27 June to 4 July. 2295 members have responded.