Denmark: Business confidence reaches the highest level in more than a year
September 27, 2013
In September, the confidence indicator developed by Statistics Denmark (DST) increased to plus 6 points in seasonally-adjusted terms and contrasted the minus 2 points recorded in August. As a consequence, the reading jumped above the 0-point threshold that separates pessimistic from optimistic territory and marked the highest level in more than a year.
According to DST, the rise came on the back of an improvement in expectations regarding the level of employment and production levels, which more than offset the decreasing expectations for sales prices.
FocusEconomics Consensus Forecast panelists expect gross fixed investment to reach 1.4% in 2013, which is down 0.6 percentage points from last month's forecast. For 2014, panelists expect an expansion of 2.8%.
Author: Dirina Mançellari, Senior Economist