Denmark - Industrial Production





Denmark: Industrial Production

Mnemonic IP.IDNK
Unit Index 2015=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 8.5 %
Data Sep 2019 116.1
Aug 2019 107

Series Information

Source Statistics Denmark
Release Production and turnover in manufacturing industries
Frequency Monthly
Start Date 1/31/2000
End Date 9/30/2019

Denmark: Business

Reference Last Previous Units Frequency
Capacity Utilization 2019 Q4 80.6 81.1 %, SA Quarterly
Business Confidence Oct 2019 98.51 98.75 Index long term avg=100, SA Monthly
Industrial Production Sep 2019 116.1 107 Index 2015=100, NSA Monthly
Change in Inventories 2019 Q2 3.73 7.51 Bil. DKK, SA Quarterly
Real Change in Inventories 2019 Q2 2.73 5.68 Bil. Ch. 2010 DKK, SA Quarterly

Release Information

For Denmark, the statistic provides a monthly estimate of industrial production. Furthermore it includes turnover and new orders received by domestic market and by export market. Finally it also includes a monthly output price index. The statistics were established in 1974 and form part of the harmonized European Union system of short-term business statistics.

The basic information is collected from a representative sample of enterprises employing at least 20 persons. The information is grossed-up to represent the full-scale population of enterprises employing at least 20 persons. The sample is based on Kind of Activity Units (KAU's) as the observation unit. A KAU is a group of local units with identical activity code belonging to the same enterprise.

Turnover and new orders received are valued in current prices. Defined as invoiced values excluding value added tax and indirect taxes, but including subsidies such as e.g. price subsidies from FEOGA in place City Brussels. Invoiced rebates are deducted.

Turnover includes sales of manufactured goods, hours worked to third parties and mounting, installations and repairs. Sales of goods purchased for resale in the same condition as received is not included. Neither is secondary income such as e.g. sales of know-how and leases for own production units and machines if used by third parties.

Domestic turnover is defined as deliveries to recipients in Danish Customs area and the drilling platforms in The North Sea. Export turnover is defined as deliveries to recipients outside the Danish Customs area, the Faroe Islands and Greenland.

New orders received are the total of the sales or invoice values calculated in advance by the enterprises for orders, which have come in during the month, including incoming orders, which are filled immediately. If enterprises fill all orders directly from stock, or where production is on a day-to-day basis, turnover and new orders received follow each other in terms of time and thus also in terms of amounts.

Data on turnover and new orders received for extraction of crude petroleum and natural gas is included in the statistics from 2000 in mining and quarrying. Data is not collected in the system mentioned above, but originate from the Danish Energy Authority and foreign trade statistics.

The purpose of the output price index is to show the trend in industrial sales prices. The primary source is the monthly system for price indices on the producer- and import level. Prices excludes VAT and indirect taxes, but includes price subsidies. There are no prices available for shipbuilding and the aggregate index excludes this activity. Price data for extraction of crude petroleum and natural gas and energy supply are included in the statistics from 2000.

The production index, measured in fixed prices, shows the trend in industrial production and provide an up-to date short-term information on the industrial activity. It is calculated on the basis of current turnover, taking into account changes in stocks. There are two categories of stocks involved, stocks of finished goods and stocks of work in progress. Both the turnover in current prices and the corresponding stocks values are deflated by the output price index. For shipbuilding the calculation is based on hours worked instead.

For extraction of crude petroleum and natural gas and energy supply, which are included in the statistics from 2000, calculations are not based on turnover figures, but directly on production in volume collected by the Danish Energy Authority. The production indices are calculated simply by comparing the monthly volume to the average monthly volume in the year 2005.

The variables are published in the form of indices. For turnover and new orders received as value indices with base in average monthly values in the base year (2000).Output price indices and production indices are Laspeyres indices, the weights being respectively turnover and value added in the base year. Normally, there is a change of the base year every 5th year.

Data is published following the standard groupings defined by Statistics Denmark. For the production- and the price index, also figures are available for Energy supply. Data is grouped according to the main use of the output, capital goods, durable consumers goods, non-durable consumers goods, intermediate goods and energy products. Furthermore regarding the production index and the output price index energy products exists in an extended version, energy products and energy supply. The grouping is defined by the European place Union (Main Industrial Groupings).

The monthly data are revised twice by the publications, the following two months. Only in rare cases be reviewed further back in time, for example, by the incorporation of new methods. 

Every time a new month is published for seasonally adjusted series, the current year and the previous three years may be revised.

The difference between the provisional and final figures are normally less than 1 per cent. However, there may be revisions of previously reported by enterprises which translates into major differences.

The above is quoted from the source.