Denmark: Manufacturing production bounces back in June
Manufacturing production expanded 0.2% month on month in seasonally adjusted terms in June (May: -6.8% mom). Looking at the details of the release, the turnaround reflected a broad-based upturn, with activity in the non-durable consumer goods—which account for around 41% of manufacturing output—investment goods plus intermediate goods sub-sectors all improving in June.
On a seasonally adjusted annual basis, manufacturing production rose at a more moderate pace of 3.4% in June (May: +8.8% yoy), the weakest result since February 2021. Accordingly, the trend pointed down, with the annual average growth of manufacturing production coming in at 8.9%, down from May’s 9.6% reading.