The monthly tendency survey provides a quick and up-to-date overview of actual conditions and expectations within the Services. The present survey has been conducted by Statistics Denmark since May 2011, taking over from different supplier. The survey is directly connected to and defined by the Business and Consumer Survey joint harmonized programme as managed by the Directorate-Generale for Economic and Financial Affairs (DG ECFIN), European Commission. Within same programme is also carried out monthly tendency surveys on Manufacturing Industries, Construction, Retail Trade and Consumer expectations as well as the biannual survey on Manufacturing Industry Investments.
Up until July 2011 Statistics Denmark conducted independently a corresponding survey, though with another selection of line of businesses and partly different questions.
The Tendency survey provides information about actual conditions and expectations within the Services sector. The survey is a qualitative assessment on developments over the past three months and expected developments over the next three month, based on the variables business situation, turnover/sales, employment, prices/rates. Furthermore is asked about the current situation regarding factors limiting the production and capacity utilization.
The collection of data for these statistics has not been affected by COVID-19. However, three COVID-19 related questions have been added to the survey. The answers to these questions have been enumerated in the same way as the other business cycle indicators. The answers to the new, temporary COVID-19-related questions are published under Experimental Statistics (in Danish). Here is also a link to a background document. There is a preliminary release in the middle of the month, while the final release comes at the penultimate weekday of the month.
Monthly business survey data is collected from a sample of approximately 2950 service enterprises. Data is reported either online at http://www.VIRK.dk or in paper questionnaire, and consists of qualitative information about changes in net sales, employment, inventories, prices, etc., which are not validated. The collected data are enumerated from the sample to the total population weighted by employment data, and distributed at industry and size groupings. If seasonal variation patterns are detected for the indicators that constitute the composite confidence indicator, data is adjusted for this.
Users of the statistics are trade organizations, banks, politicians, public authorities, international organizations, business enterprises and the news media. The confidence indicators provides valuable information about the state of the business economy and are reflected upon every month in financial related news medias. There has been no survey if the statistics meets the needs of clients.
Regarding Accuracy, sampling error is estimated to plus/minus 1-2 percentage points for the confidence indicators. The figures are by definition reliable, since they are not revised.
The Survey is launched about 5 working days before the beginning of the survey month. Questionnaires or e-mail notification is send out. Deadline for responses is about the 6th of the survey month. Reminder is send about the 13th giving new deadline about the 20th of the survey month. The statistics is compiled about the 24th immediately before deadline for sending data to EU-partner DG ECFIN. Last but one working day before the end of the survey month data is published in both Denmark and EU. The process always runs punctual.
The Services Sector survey was launched in May 2011 by Statistics Denmark. Data is comparable over time by comparing with similar tendency survey data up until April 2011 provided by the EC Business and Consumer Surveys programme and managed by Directorate-Generale for Economic and Financial Affairs, DG ECFIN.
Results of the surveys are published monthly at Statistics Denmark; Key indicators are published in the newsletter edition Nyt fra Danmarks Statistik, Konjunkturbarometer for Serviceerhverv and in English at the homepage Short term trends. Detailed data is available in English version at http://www.statbank.dk; choose English language and look for the tables KBS1, KBS2, KBS3 and KBS4.
Read here about the statistics.
Also, data are published at the homepage of the EU-commission partner Directorate Generale Economic and Financial affairs (DG ECFIN) along with similar data from other EU countries.
Scientists and analysts have the option to buy detailed micro-data through the Division of Research Services, Statistics Denmark. In this case data will anonymized in order to ensure enterprises confidentiality.