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.
Author: Steven Burke, Economist