Denmark: Businesses confidence plummets and reaches lowest level in over five years in July
July 30, 2014
The business confidence indicator developed by Statistics Denmark (DST) dropped from June’s minus 7 points to minus 13 points in July, which marked the lowest level since June 2009. The sharp drop drove the indicator further below the 0-point threshold, which indicates that pessimists outnumber optimists.
According to DST, July’s deterioration was broad-based. Production expectations as well as stocks of finished goods also recorded a substantial decline. In addition, overall backlog deteriorated compared to June.
Author: Dirina Mançellari, Senior Economist