26-09-19 DI Business News

Lowest Confidence In The Economy In 75 Months

New figures: The slowdown in the economic boom and escalating international uncertainties are impacting confidence in the economy. It could slow down Danish exports. That is the opinion of Allan Sørensen, DI’s chief analyst.

New figures for purchasing managers’ assessment of the financial situation have dropped to 50.4, the lowest level in 75 months. This is the evidence of new figures from Markit PMI.

“Confidence in the Eurozone economy is alarmingly low and unfortunately indicates that growth has stalled. This could slow down Danish exports in the latter part of 2019,” says Allan Sørensen, DI’s chief analyst.

“Historically, there has been a very close connection between the purchasing managers’ assessment and economic activity. Consequently, the fact that their expectations are at their lowest in 75 months does not augur well,” says Allan Sørensen.

“Industrial companies in particular are pessimistic about the current situation and expect a decline in production. This applies particularly to companies in Germany,” says Allan Sørensen.

“Germany is Denmark’s largest export market and the largest economy in Europe. It is crucial, in terms of Danish exports and growth in Europe, for the situation in German industry to improve soon,” says Allan Sørensen.

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Allan Sørensen

  • Direct +45 3377 3912
  • Mobile +45 2990 6323
  • E-mail als@di.dk
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