Financial News: Denmark Economic Confidence Rises To 90.8

Denmark Economic Confidence Rises To 90.8

05/23/2023 - 09:45:00 (RTTNews)

(RTTNews) - Denmark's economic sentiment improved further in May as morale in the industry, service, and retail sectors strengthened, survey data from Statistics Denmark showed on Tuesday.

The overall economic confidence index, which includes consumer expectations, rose notably to 90.8 in May from 85.0 in April.

The business confidence indicator, which weighs industry, construction, services, and retail, rose to 97.7 in May from 91.3 in April.

The industrial confidence sub-index improved to -6 in May from -13 in April, driven by all three components as production expectations have increased.

In services, morale turned positive in May, with the index rising to 2 from -1 a month ago. This was due to more widespread expectations of increasing turnover.

In the retail trade, the confidence indicator remained stable at -9, while the construction confidence index rose somewhat to -13 from -16.

During May, the vast majority of companies across the business world expect an unchanged level for sales prices, service rates, and offer prices for construction tenders, the survey said.

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