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Financial News: Denmark Industrial Production Growth Slows In April

Denmark Industrial Production Growth Slows In April

06/07/2022 - 06:03:00 (RTTNews)

(RTTNews) - Denmark's industrial production increased at a softer pace in April and was largely driven by the output growth in the pharmaceutical sector, figures from Statistics Denmark showed on Tuesday.

Industrial production rose a seasonally adjusted 1.1 percent monthly in April, after a 4.6 percent growth in March. In February, output increased 1.4 percent.

Production grew for the fourth month this year and this shows that the Danish industry is defying the uncertainty in the industry due to the rising commodity prices and the invasion of Ukraine, the statistical office said.

Production in the pharmaceutical industry, which has significant weight on the overall index, gained 8.8 percent monthly in April, while production in transport industry, with a smaller bearing, declined 17.3 percent.

Excluding pharmaceuticals, production decreased 1.8 percent in April.

Production of electrical equipment, and wood and paper industry, painting works increased by 3.1 percent and 2.6 percent, respectively.

Output declined in the plastic, glass and concrete industry, furniture and other industries, and chemical industry and oil refineries.

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