Denmark: Business sentiment in the industrial sector more pessimistic in June
Business confidence among firms in the industrial sector slumped further to minus five points in June from minus two points in May, according to a survey conducted by Denmark’s Statistical Institute, due to a sharper deterioration in new orders and less optimistic production expectations. Consequently, business confidence remained below the zero-point threshold that separates optimism from pessimism in the sector where it has been since October 2018.
Turing to other sectors, sentiment among retailers tapered due to less positive revenue expectations. The construction sector was slightly less pessimistic in June as employment expectations improved, while confidence in the service sector ebbed due to weaker sales.
Going forward, business confidence should remain somewhat depressed as the global growth outlook continues to moderate and uncertainty lingers over Brexit and trade protectionism.