Denmark: Industrial output deteriorates in June
Industrial production decreased 4.3% month-on-month in seasonally-adjusted terms in June, contrasting the 2.9% rise clocked in May. June’s result marked the worst reading since October 2020. The result was largely due to the manufacturing of non-durable consumer goods sector contracting in June from its expansion in May, and the investment goods industry also declined in June.
On a seasonally- and calendar-adjusted annual basis, industrial production rose at a more moderate pace of 2.5% in June (May: +14.2% yoy). Meanwhile, the trend improved slightly, with the annual average growth of industrial production coming in at an over one-year high of plus 0.9% in June, up from May’s 0.6%.