Denmark: Manufacturing activity posts quickest growth since October 2016 in December
Manufacturing output spiked 15.3% month on month in seasonally adjusted terms in December (November: +2.3% mom). The print marked the best reading since October 2016. Looking at the details of the release, December’s notable acceleration came chiefly on the back of an upturn in non-durable consumer goods, which expanded by 30% swinging from Novembers 1.5% decline.
On a seasonally adjusted annual basis, manufacturing production growth more than doubled in December, accelerating to 29.6% (November: +11.8% yoy), the best result since our current records began in January 2001. Accordingly, the trend improved sizably, with the annual average growth of manufacturing production coming in at 16.2%, up from November’s 14.4% reading.