Denmark: Manufacturing activity growth wanes in July
Latest reading: Manufacturing output expanded 1.2% in month-on-month seasonally adjusted terms in July, which was a deterioration from June’s 3.4% increase. Looking at the details of the release, investment goods output swung to contraction, and intermediate goods production fell at a slightly steeper pace compared to the prior month. In contrast, non-durable consumer goods output accelerated.
On a seasonally adjusted annual basis, manufacturing production plummeted 7.2% in July (June: -2.0% yoy). Accordingly, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 2.3% in July, down from June’s minus 0.3% reading.