Denmark: Business sentiment reaches over one-year high in August
August 30, 2018
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector improved in August to the best reading since July 2017. The seasonally adjusted confidence indicator rose from 3 points in July to 5 points in August, moving further above the zero-point threshold that separates optimism from pessimism in the sector.
The uptick in business sentiment was underpinned by slightly higher production expectations as well as an improvement in firms’ order books. Inventory levels were unchanged in August.
Regarding the other sectors of the economy, confidence improved marginally in the service sector while it deteriorated in retail. Confidence in the construction sector remained neutral as in July.
Author: Joffrey Simonet, Economist