Denmark: Business confidence drops in February
February 27, 2013
In February, the seasonally adjusted manufacturing confidence indicator elaborated by Statistics Denmark (DST) fell to 2 points from the 5 points observed in January. Despite the deterioration, the index remains above the 0-point threshold that separates optimistic from pessimistic territory.
According to DST, order books fell somewhat over the previous month while employment expectations deteriorated as well. On the other hand, production expectations for the next three months improved over January and the level of stocks remained low.
FocusEconomics Consensus Forecast panellists are less optimistic and expect economic growth to reach 0.8% in 2013, which is down 0.1 percentage points from last month's forecasts. For 2014, panellists expect an expansion of 1.5%.