Denmark Industrial Output Shrinks 2.9%

(RTTNews) - Denmark's industrial production declined in August after rising in the previous two months, data from Statistics Denmark showed on Monday.

Industrial production fell a seasonally adjusted 2.9 percent month-on-month in August, reversing a 1.4 percent increase in July.

The contraction in August was driven by an 8.9 percent plunge in the pharmaceutical industry. Output produced in the machinery industry decreased 4.8 percent, while the metal industry expanded by 9.7 percent.

Excluding the pharmaceutical industry, total industrial production rose 0.2 percent.

Data showed that industrial production expanded 3.2 percent in the June-August period compared to the previous three-month period.