FX.co ★ Denmark Industrial Production Contracts 2.3%

Denmark's industrial production declined in March after expanding in the previous month, largely led by a plunge in the pharmaceutical industry, data from Statistics Denmark showed on Monday.

Industrial production dropped a seasonally adjusted 2.3 percent month-on-month in March, reversing a 5.1 percent rise in February.

Production of pharmaceuticals alone fell 7.8 percent annually in March versus a 13.5 percent surge in the prior month.

Output of the electrical equipment segment decreased 8.0 percent compared to last year, and those of the textile and leather industry logged a negative growth of 4.6 percent.

At the same time, the electronics industry showed a sharp growth of 8.8 percent.

On a yearly basis, industrial production climbed an unadjusted 9.7 percent in March.