Denmark: Industrial activity expands in May
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%.