Denmark Industrial production July 2022

Denmark

Denmark: Manufacturing production dips in July

September 7, 2022

Manufacturing production slid 2.6% month-on-month in seasonally-adjusted terms in July (June: +0.6% mom). July's figure marked the worst reading since September 2021. Looking at the details of the release, the figure was partly driven by a deterioration in non-durable consumer goods output growth. In addition, investment goods output fell.

On a seasonally-adjusted annual basis, manufacturing output rose at a more moderate pace of 11.1% in July (June: +26.1% yoy), the weakest result since January. Accordingly, the trend pointed down, with the annual average growth of manufacturing production coming in at 13.2% in July, down from June's 13.7%.

FocusEconomics panelists projects that industrial production will increase 12.0% in 2022, which is up 3.8 percentage points from last month’s projection, and 1.4% in 2023.


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Denmark Manufacturing July 2022

Note: Month-on-month seasonally-adjusted and year-on-year variation in %.
Source: Statistics Denmark (DST).


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