Denmark: Industrial activity drops at sharpest pace since October 2020 in September
November 5, 2021
Industrial output sank 5.6% in month-on-month seasonally-adjusted terms in September, which was a deterioration from August's 5.1% increase. September's figure marked the weakest reading since October 2020. Looking at the details of the release, the slump was due to intermediate industry output declining at a sharper rate in September, while activity in the manufacture of non-durable goods and investment goods industry moderated.
On an annual basis, factory output rose 7.4% in calendar- and seasonally-adjusted terms in September, which was well below August’s 15.3% expansion. Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at plus 4.6%, up from August's 3.6%.
Author: Marta Casanovas , Junior Economist