Industrial production in Denmark increased 3.8 percent year-on-year in April 2019, following an upwardly revised 11.1 percent gain in the previous month. Manufacturing growth eased to 4.0 percent from 11.2 percent in March, mainly supported by output of pharmaceuticals (17.2 percent vs 31.5 percent); chemicals and oil refineries (5.8 percent vs 9.2 percent). Meantime, output growth accelerated for food, beverages and tobacco (1.4 percent vs 1.1 percent), and machinery (12.1 percent vs 3.3 percent). In addition, output shrank for: plastic, glass and concrete (-1 percent vs 11.7 percent); basic metals and fabricated metal products (-1.2 percent vs 9.3 percent), and furniture and other manufacturing (-11.2 percent vs 5.2 percent). Mining and quarrying also advanced softer (2.9 percent vs 10 percent). On a seasonally adjusted monthly basis, industrial production showed no growth in April. Industrial Production in Denmark averaged 0.30 percent from 2001 until 2019, reaching an all time high of 15.40 percent in November of 2016 and a record low of -22.20 percent in April of 2009.
Industrial Production in Denmark is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Denmark to stand at 3.30 in 12 months time. In the long-term, the Denmark Industrial Production is projected to trend around 3.50 percent in 2020, according to our econometric models.