Denmark's economic confidence increased in April as morale in the service and retail sectors improved, survey data from Statistics Denmark showed on Friday.
The overall economic confidence index, which includes consumer expectations, rose to 84.3 from 80.9 in March.
The business confidence indicator, which weighs industry, construction, services, and retail, rose to 90.7 in April from 89.3 in March and is now at its highest level since September 2022, the survey said.
The industrial confidence sub-index held steady at -14 in April amid rising pessimism regarding the order backlog and stocks of finished products. Nonetheless, production expectations turned positive to 1 from -2.
In services, the morale index rose slightly to -1 from -2 as the view on expected revenue increased and the pessimism surrounding the current business situation lessened to -3 from -7.
In the retail trade, the confidence indicator gained 2 points to -10 as the actual turnover grew notably along with an increase in expected revenue.
Pessimism rose slightly in the construction sector, with the confidence indicator falling to -17 from -16 in the previous month.
During April, fewer Danish companies reported supply shortage problems over the past year.
For comments and feedback contact: editorial@rttnews.com
