Denmark: Manufacturing production increases notably in July
Manufacturing production expanded 7.3% month on month in seasonally adjusted terms in July following June’s flat result. Looking at the details of the release, July’s upturn was largely due to rebounds in non-durable consumer goods—which account for around 41% of manufacturing output—and intermetiade goods production, as well as stronger growth in investment goods output.
On a seasonally adjusted annual basis, manufacturing output rose at a faster rate of 18.2% in July (June: +3.1% yoy). Accordingly, annual average manufacturing production growth rose to 9.5% in July (June: +8.9%). This signals an improving trend in the manufacturing sector.