Denmark Business Confidence October 2019

Denmark

Denmark: Business sentiment in the industrial sector continues to worsen in October

October 30, 2019

Business confidence among firms in the industrial sector decreased to minus 12 in October from minus 7 points in September, according to a survey conducted by Denmark’s Statistical Institute, the lowest reading since March 2015. October’s fall was driven by firms growing less positive about their future output levels and more pessimistic about their order books.

Turning to other sectors, sentiment among the services sector fell on the back of lower sales. Meanwhile, sentiment among firms in the construction sector improved somewhat in October, while retailer sentiment was unchanged from the previous month.

Looking to 2020, business confidence should remain somewhat hamstrung by a modest global economic growth outlook and lingering Brexit uncertainty.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to fall 2.2% in 2020, which is down 0.2 percentage points from last month’s forecast, and to expand 2.2% again in 2021.


Author:, Economist

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Denmark Business Confidence October 2019

Note: Value of s.a. monthly manufacturing confidence indicator index. The zero-point threshold separates optimistic from pessimistic sentiment.
Source: Statistics Denmark (DST)


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