Denmark: Manufacturing production records largest contraction in six months in January
Manufacturing output slid 3.5% in month-on-month seasonally adjusted terms in January, which was a deterioration from December’s 0.3% decrease. Looking at the details of the release, the downturn reflected intermediate goods production swinging into a contraction. Moreover, non-durable consumer goods output declined at a steeper pace. Lastly, capital goods production growth waned in the month.
On an annual basis, manufacturing output grew 5.8% in seasonally adjusted terms in January, which was below December’s 6.9% expansion. Accordingly, the trend pointed down, with the annual average growth of manufacturing production coming in at 9.8% in January, down from December’s 10.5%.