Industrial production in Denmark jumped 15.2 percent year-on-year in December 2018, accelerating from a 3.0 percent rise in the previous month. It was the highest growth rate since August, when industrial output contracted by 2.9 percent, as manufacturing output expanded 17,8 percent, after increasing 4.6 percent in November while mining and quarrying output contracted less than in a month earlier (-5.8% vs -12.5%). Within manufacturing, output grew faster for furniture and other manufacturing (31.8% vs 14.5% in November); pharmaceuticals (41.4% vs 5.3%); plastic, glass and concrete (6.3% vs 5.5%) while output of basic metals and fabricated metal products rebounded (32.6% vs -3.1%). In addition, output contracted less for wood and paper products and printing (-1.4% vs -2.4%). On the other hand, output of food, beverages and tobacco dropped (-1.9% vs 0.5%). On a seasonally adjusted monthly basis, industrial production surged 11.9 percent, after a revised 5 percent rise in November. Industrial Production in Denmark averaged 0.22 percent from 2001 until 2018, 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 9.50 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 3.20 in 12 months time. In the long-term, the Denmark Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.