Denmark Business Confidence May 2019

Denmark

Denmark: Business sentiment in the industrial sector improves for third consecutive month in May

May 29, 2019

Business confidence among firms in the industrial sector inched up to minus 2 points in May from minus 3 points in April, according to a survey conducted by Statistics Denmark, owing to a slight recovery in news orders and lower stocks. This marked the third straight month of businesses growing less pessimistic, although business confidence still remained below the zero-point threshold that separates optimism from pessimism in the sector.

Turning to other sectors, sentiment among retailers improved on a surge in revenue expectations. Moreover, the construction sector remained in pessimistic territory on soft order books, while confidence in the service sector ticked down due to a slight fall in current business conditions, but remained fairly optimistic overall.

Looking ahead, the weaker global growth outlook, which could stunt investment and external demand for Danish manufacturing goods, remains the main downside risk to business confidence.

Against this backdrop, FocusEconomics Consensus Forecast panelists expect gross fixed investment to fall 0.2% in 2019, which is up 0.1 percentage points from last month’s forecast, and to expand 2.7% in 2020.


Author:, Economist

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Denmark Business Confidence May 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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