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Denmark Industrial production May 2024

Denmark: Manufacturing activity drops at sharpest pace in four years in May

Manufacturing output nosedived 6.0% in month-on-month seasonally adjusted terms in May, which contrasted April’s 10.8% increase. The figure marked the worst reading in four years. Looking at the details of the release, the downturn was primarily driven by a dive in non-durable consumer goods output—which account for around 41% of manufacturing output. Similarly, investment goods production also swung to a contraction. In addition, intermediate goods production decelerated to a near halt.

On an annual basis, manufacturing production increased 9.1% in seasonally adjusted terms in May, which was well below April’s 19.5% expansion. Still, the trend improved, with the annual average growth of manufacturing production coming in at 9.6%, up from April’s 9.4%.

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