Danish manufacturing companies have not had a very good start to the year. This is stated by Chief Economist Allan Sørensen from the Confederation of Danish Industry, after Statistics Denmark published new figures for the production of Danish manufacturing companies.
The figures do show a small increase of 0.1 percent in May, but if you add up the figures for the first five months of the year, it is a decline of 8.3 percent compared to the same period in 2024.
A large part of the explanation must be found in the pharmaceutical industry, where it is 26.3 percent lower than last year at this time.
- Production in the pharmaceutical industry can fluctuate greatly over time. The pharmaceutical industry is of crucial importance to industry and the Danish economy. It is good that the production of medicine is showing positive trends again, says Allan Sørensen.
Happened by tariff war
He also notes that many Danish industrial companies are affected by the American tariff war, which is causing uncertainty and falling demand. Mathias Dollerup Sproegel, chief economist at Sydbank, reaches the same conclusion.
- It will certainly be a nail-biter for Danish industrial companies whether Trump and the EU can reach an agreement on a trade agreement before Trump's cut-off date of July 9, he writes in a comment.
Sproegel refers to the fact that US President Trump has given US trading partners a provisional deadline of Wednesday to enter into new agreements with the Americans, otherwise they will be hit by high tariffs on goods exported to the US.
/ritzau/
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