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Financial News: Denmark Industrial Confidence Improves For First Time In

Denmark Industrial Confidence Improves For First Time In 4 Months

08/30/2022 - 04:58:00 (RTTNews)

(RTTNews) - Danish manufacturing confidence improved for the first time in four months in August, as producers were turned optimistic regarding future output as more of them now assess less price increase in the coming months, survey data from Statistics Denmark showed Tuesday.

The industrial confidence index rose to -1 from -9 logged in each of the past two months. The reading has been negative since May.

The production expectations sub-index climbed to 2 from -4 in the previous month. The measure reflecting the assessment on order backlog improved to -5 from -11. The sub-index for finished stock decreased to 1 from 11.

Morale continued to be negative in the construction industry due to overall stagnation in orders and the corresponding index reading remained at -15. The services industry confidence index eased to 5 from 7 with the actual assessment of turnover and business situation worsening. However, the sub-index for expected revenue climbed.

The retail trade sentiment measure tumbled to -23 from -15 amid a worsening assessment of actual turnover. The inventory sub-index climbed sharply, while the expected revenue measure was remained stuck in the negative territory. The business confidence indicator, which combines industry, construction, service and retail trade, rose to 100.7 in August from 98.2 in July. The measure improved for the first time in four months.

The confidence indicator, which also includes consumer confidence, climbed to 88.8 in August from 85.5 in July, after falling in the past few months.

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