Denmark: Economic sentiment further deteriorates in May
Latest reading: Economic sentiment fell to an 18-month low of 92.3 in May from April’s 96.2. The reading marked the fourth consecutive decline, likely partly driven by rising trade tensions between the EU and the U.S. As a result, the index fell further below the long-term average of 100, pointing to a negative near-term outlook for the economy.
The headline print reflected weaker sentiment in the industrial and construction sectors, while confidence in the services sector and consumer sentiment remained stable from last month. On the flipside, confidence in the retail sector improved.
Regarding indicators that are not used to calculate the index, employment expectations rose, and the economic uncertainty index fell in May.