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Denmark Economic Sentiment Weakens In December


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Denmark’s economic confidence decreased in December as morale in the industry and service sectors worsened, survey data from Statistics Denmark showed Thursday.

The overall economic confidence index, which includes consumer expectations, dropped to 74.1 from 75.8 in November.

The industrial confidence sub-index fell to -17 from -14 amid the rising pessimism regarding the production outlook and order backlog. The assessment of finished stocks also weakened.

In services, the morale index dropped to -3 from 0 as the view on actual turnover and expected revenue declined and the pessimism surrounding the current business situation worsened.

In the retail trade, the confidence indicator improved somewhat to -34 from -35 as the actual turnover and expected revenue managed to show some increase from last month.

Pessimism reduced slightly in the construction sector with the confidence indicator improving to -15 from -16 in the previous month.

Several construction companies report an insufficient order book, but their backlog still covers six months of work on average, the survey said.

*UK Dec S&P/CIPS Composite Output Index 49.0 Vs. 48.2 In Nov, Flash 49.0

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