Denmark: Manufacturing production dips in July
Manufacturing production slid 2.6% month-on-month in seasonally-adjusted terms in July (June: +0.6% mom). July’s figure marked the worst reading since September 2021. Looking at the details of the release, the figure was partly driven by a deterioration in non-durable consumer goods output growth. In addition, investment goods output fell.
On a seasonally-adjusted annual basis, manufacturing output rose at a more moderate pace of 11.1% in July (June: +26.1% yoy), the weakest result since January. Accordingly, the trend pointed down, with the annual average growth of manufacturing production coming in at 13.2% in July, down from June’s 13.7%.