Denmark: Business sentiment falls to over one-and-a-half-year low in December
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector fell to minus 5 points in December from a revised 0 points in November (previously reported: -1 point), dropping below the zero-point threshold that separates optimism from pessimism in the sector.
The tumble in industrial business sentiment was primarily driven by declining new orders. Moreover, firms’ outlook on production was less optimistic, while inventory levels rose sharply in the month.
Regarding the other sectors of the economy, confidence swung back to pessimistic territory in the construction sector in December after briefly rising above the 0-point threshold in November. On a brighter note, sentiment in the retail sector improved notably—mainly due to higher revenue and falling inventories—while service-sector confidence rose slightly in December.