Denmark: Business confidence inches down in March on lower production expectations
According to the business survey conducted by Statistics Denmark, business confidence among manufacturing firms deteriorated in March. The confidence indicator fell from a revised minus 1 point in February (previously reported: 0 points) to minus 2 points in March, further entrenching it below the threshold that separates optimism from pessimism among manufacturers, where it has been since January.
More pessimistic business sentiment in March was the result of a drop in manufacturers’ production expectations and higher stocks of finished goods. Lower confidence about the future more than offset a less pessimistic view of current order books.