Denmark Business Confidence Falls In May

(RTTNews) - Denmark's business confidence decreased in May from a 14-month high in the previous month, survey data from Statistics Denmark showed on Friday.

The overall business confidence index, which combines expectations in industry, construction, retail trade, and services, dropped to 104.1 from 105.5 in April. Nonetheless, reading remained above the historical average of 100.

Among the four underlying confidence indicators, industry and retail trade pull down the overall business confidence in May, the survey said.

The morale for the industrial sector declined notably to 93.5 from 100.7 as both production and employment expectations weakened. The confidence indicator for the retail trade eased to a 6-month low of 101.9 from 103.3.

At the same time, services confidence remained more positive, with the corresponding index rising to 108.9 from 107.5. The morale for construction and civil engineering improved from 100.7 to 101.0.

Separate official data showed that retail sales fell 1.8 percent monthly in April, reversing a 2.8 percent increase in March. Sales at liquid fuel filling stations dropped 3.7 percent, and those at supermarkets, department stores, and specialized grocery stores slid by 2.5 percent.

On a yearly basis, retail sales growth moderated to 1.3 percent from 7.0 percent.