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Denmark Industrial production May 2023

Denmark: Manufacturing production dips in May

Manufacturing production fell 0.9% month-on-month in seasonally adjusted terms in May (April: +1.1% mom). Looking at the details of the release, the notable downturn came on the back of a steeper contraction in investment goods and non-durable consumer goods production swinging to a decline.

On an annual basis, manufacturing production grew 9.0% in seasonally adjusted terms in May, which was significantly below April’s 13.6% expansion and marking the worst result since January 2022. Accordingly, annual average manufacturing production growth fell to 15.9% in May (April: +16.7%), signaling a worsening trend in the manufacturing sector.

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