Denmark Industrial Production Drops 2.3%

Denmark’s industrial production declined in October, data from Statistics Denmark showed on Thursday.

Industrial production dropped a seasonally adjusted 2.3 percent month-on-month in October, after a 1.3 percent growth in September.

The development must be seen in the light of the global uncertainty caused by Russia’s invasion of Ukraine, as well as the rising commodity prices and supply difficulties, the agency said.

Production of electrical equipment decreased by 15.2 percent. Production in the machinery industry declined 13.9 percent and those in the pharmaceutical industry fell 2.0 percent.

Meanwhile, the electronics industry output grew the most by 8.7 percent.

On a yearly basis, industrial production climbed an unadjusted 11.2 percent in October.