Denmark Industrial production March 2022

Denmark

Denmark: Manufacturing activity growth gains notable steam in March

May 6, 2022

Manufacturing output rose 5.2% in month-on-month seasonally-adjusted terms in March, which followed February's 1.3% increase. The figure marked the best result since July 2021. Looking at the details of the release, the improvement was largely driven by upturns in production of non-durable consumer goods and investment goods.

On an annual basis, manufacturing production grew 13.1% in seasonally-adjusted terms in March, which was above February’s 12.1% expansion and the quickest increase in five months. Accordingly, the trend improved sizably, with the annual average growth of manufacturing production coming in at 10.8% in March, up from February's 10.2%.

FocusEconomics panelists projects that industrial production will increase 4.3% in 2022, which is down 0.1 percentage points from last month’s projection, and 1.8% in 2023.


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Denmark Manufacturing March 2022 0

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


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