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Denmark Business Confidence May 2023

Denmark: Business sentiment improves further in May but remains pessimistic

Business sentiment in the industrial sector improved to a nine-month high of minus 6.0 in May, up from the prior month’s minus 13.0. As a result, the index remained below the 0-point threshold, signaling milder pessimism among Danish businesses in the industrial sector.

Looking at the details of the release, May’s uptick came on the back of firms’ views with regard to order backlog becoming markedly less pessimistic. Moreover, firms’ production expectations became marginally more optimistic. Less positively, optimism regarding stocks of finished goods cooled.

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