Denmark: Business confidence drops to lowest level in three years
October 30, 2012
In October, the seasonally adjusted manufacturing confidence indicator elaborated by Statistics Denmark (DST) fell to minus 7 points from the revised 0 points observed in September (previously reported: -1 points). The reading represents the lowest level recorded since September 2009. With the monthly drop, confidence dipped into negative territory, which suggests a pessimistic outlook amongst manufacturers for the next three months. According to DST, both production expectations and order books fell into negative territory in October. In addition, stocks of finished goods increased notably, which also had a negative impact on manufacturing confidence, as it suggests lower demand levels.