Denmark: Business confidence worsens in July
July 28, 2016
The business confidence indicator developed by Statistics Denmark (DST) tallied minus 5 points in July, which was a deterioration over the previous month’s minus 1 point. As a consequence, the indicator remained under the 0-point threshold, which indicates that pessimists outnumber optimists, where it has been since May 2014.
According to DST, July’s reading came in mainly on the back of worse expectations of future production and a smaller backlog of orders in comparison to June. Regarding industry groups, producers of consumer durables were more optimistic but firms producing intermediate and non-durable goods reported a clouded outlook.