Denmark: Business sentiment in the industrial sector worsens in January
January 30, 2020
Business confidence among firms in the industrial sector fell to minus 9 in January from minus 7 points in December, according to a survey conducted by Denmark’s Statistical Institute. The downturn was mainly the result of firms’ less optimistic view towards output expectations.
Turning to other sectors, sentiment among the construction sector ticked down, the service sector was broadly unchanged, while the retail sector’s outlook improved in January compared to the previous month.
Looking ahead, an expected slowdown in export growth should weigh on the industrial sector’s production expectations—despite stronger domestic demand conditions. A stronger-than-projected fall in euro area economic growth poses a downside risk to confidence among firms in the industrial sector.
Author: Steven Burke, Economist