Denmark: Manufacturing production shrinks in February
Latest reading: Manufacturing production fell 2.0% in seasonally adjusted month-on-month terms in February, following a 3.3% increase in the prior month.
Relative to the prior month’s data, readings in February worsened for non-durable consumer goods (-1.6% in seasonally adjusted month-on-month terms vs +5.5% in January) and investment goods (-3.7% vs +1.1% in January). Pharmaceutical output, which accounts for 20% of manufacturing output, recorded a 4.1% monthly decline in February. In contrast, the reading for intermediate goods improved in February (-2.0% vs -2.3% in January).
In seasonally adjusted year-on-year terms, manufacturing production increased 6.7% in February, following 13.2% growth in the prior month.