Denmark: Manufacturing production weakens further in September
Latest reading: Manufacturing production remained in the doldrums in September, contracting 4.9% month on month in seasonally adjusted terms and deteriorating from August’s 4.8% decrease. Looking at the details of the release, September’s downturn was due to declines in investment goods and intermediate goods output. More positively, non-durable consumer goods—which account for around two-fifths of manufacturing output—fell at a softer rate.
On a seasonally adjusted annual basis, manufacturing output rose at a softer rate of 8.5% in September (August: +14.8% yoy). Meanwhile, annual average manufacturing production growth rose to 10.8% in September (August: +10.5%). This signals an improving trend in the manufacturing sector.