Denmark Industrial production May 2021

Denmark

Denmark: Industrial activity expands in May

July 7, 2021

Industrial production increased 2.6% month-on-month in seasonally-adjusted terms in May, contrasting the 3.3% decline clocked in April. The upturn was largely due to the manufacturing of non-durable goods sector expanding in May from its contraction in April. Moreover, the investment goods industry also swung to growth in May. Meanwhile, the intermediate industry softened its contraction and recorded a mild drop.

On a seasonally- and calendar-adjusted annual basis, industrial output growth accelerated to 13.9% in May (April: 6.6% yoy), although the reading was largely favored by a low base effect. Meanwhile, the trend pointed up, with annual average growth of industrial production coming in at plus 0.6% in May, markedly up from April’s minus 1.6%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 7.3% in 2021, which is up 2 percentage points from last month’s projection, and to expand 3.6% in 2022.


Author:, Junior Economist

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Denmark Industrial production Chart


Denmark Industry May 2021 0

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Denmark (DST).


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