Denmark Economic Sentiment Weakens For Second Month

(RTTNews) - Denmark's economic confidence deteriorated for a second straight month in October as morale in the industry, services and retail sectors worsened, survey data from Statistics Denmark showed Friday.

The overall economic confidence index, which includes consumer expectations, dropped to 71.1 from 79.1 in September.

Earlier, survey data showed that the consumer confidence index decreased to -37.0 from -32.1 in September.

The industrial confidence sub-index fell to -16 from -9 amid the rising pessimism regarding the production outlook and order backlog. The assessment of finish stock increased.

In services, the morale index dropped to -1 from 1 as the view on actual turnover and expected revenue declined and the pessimism surrounding the actual business situation worsened.

In the retail trade, the confidence indicator eased to -34 from -22 with the view on the expected revenue deteriorating sharply.

Pessimism reduced slightly in the construction sector with the confidence indicator improving to -18 from -19 in the previous month.

The survey also showed that the proportion of businesses facing supply and labor constraints have fallen. However, a lack of demand is rising.

Further, Statistics Denmark said a 28 percent of industrial firms expect a decrease in investments next year, while 18 percent are looking forward to growth in investments. The corresponding figures for this year were 16 percent and 25 percent.