In the second quarter, GDP contracted 0.4% in seasonally adjusted terms over the previous quarter, up from the 0.5% contraction initially estimated on 29 August. The decline contrasted the revised 0.4% expansion seen in the first quarter (previously reported: +0.3% quarter-on-quarter) and matched market expectations. On an annual basis, the economy contracted 0.6%, also revised upwards from the previously estimated 0.9% contraction. The milder contraction in Q2 came on the back of upward revisions to the domestic sector. Gross fixed investment contracted 3.6% over the previous quarter (previously reported: -4.2% qoq). In addition, private consumption decreased a softer 0.1% over the previous quarter (previously reported: -0.9% qoq), contrasting the 0.4% expansion recorded in Q1. The external sector's contribution to growth, in contrast, was revised down. Exports of goods and services rose 2.8% (previously reported: +2.5% qoq), while imports expanded 1.2% in the second quarter (previously reported: +0.8% qoq). Consequently, the external sector's net contribution to overall economic growth deteriorated slightly from the 0.9 percentage-point contribution initially reported to 0.8 percentage points.
Economy contracts less than initially estimated
September 28, 2012
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Denmark GDP Chart
Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation in %.
Source: Statistics Denmark (DST) and FocusEconomics Consensus Forecast.
Denmark Economic News
October 10, 2016
In September, consumer prices were flat on a monthly basis, which came in above August’s 0.3% decrease.
September 30, 2016
In the second quarter, GDP expanded a revised seasonally-adjusted 0.4% over the previous quarter (previously reported: +0.5% quarter-on-quarter), according to data released by Statistics Denmark (DST) on 30 September.
September 29, 2016
The business confidence indicator developed by Statistics Denmark (DST) came in at minus 8 points in September, which marked a deterioration since the previous month’s minus 7 points.
September 22, 2016
The mood among Danish consumers turned more pessimistic and fell to the lowest level in over three years in September, as the consumer confidence indicator produced by Statistics Denmark (DST) fell from August’s 4.8 points to 1.8 points. September’s deterioration reflected that consumers assessed Denmark’s economic outlook in one year as well as the country’s current economic situation worse than in August.
September 12, 2016
In August, consumer prices fell 0.3% on a monthly basis, which came in below July’s 0.1% decrease.