Denmark: Business confidence falls in October
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector dipped to a seven-month low in October. The seasonally adjusted confidence indicator fell to minus 2 points in October from minus 1 point in September, moving further below the zero-point threshold that separates optimism from pessimism in the sector.
The deterioration in business sentiment came on the back of firms’ more pessimistic assessment of order books, while their perspective of future production was less upbeat. Meanwhile, inventory levels declined in October.
Regarding the other sectors of the economy, confidence also fell in the retail and construction sectors, while sentiment in the service sector was unchanged from the prior month.