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Denmark Industrial production January 2023

Denmark: Manufacturing production contracts at sharpest rate in over three years in January

Manufacturing output dived 7.6% in month-on-month seasonally adjusted terms in January, which contrasted December’s 15.0% increase. January’s result marked the worst reading since June 2019. Looking at the details of the release, the notable deterioration was largely driven by sharp contractions in non-durable consumer goods and investment goods output.

On an annual basis, manufacturing output increased 16.3% in seasonally adjusted terms in January, which was significantly below December’s 29.6% expansion. Still, the trend improved notably, with the annual average growth of manufacturing production coming in at 16.8%, up from December’s 16.2% reading.

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