In the second quarter, GDP contracted 0.5% in seasonally adjusted terms over the previous quarter. The decline contrasted the 0.3% expansion seen in the first quarter and exceeded market expectations of a 0.1% contraction. On an annual basis, the economy contracted 0.9%, contrasting the 0.3% expansion registered in the first quarter. The contraction in Q2 came on the back of a depressed domestic sector, which offset healthy growth in the external sector. Gross fixed investment contracted a sharp 4.2% over the previous quarter, contrasting the 3.5% expansion observed in the January-March period. In addition, private consumption decreased 0.9% over the previous quarter, contrasting the 0.4% expansion recorded in Q1. The external sector, in contrast, improved as exports outpaced imports. Exports of goods and services rose 2.5%, bouncing back from the 0.6% contraction recorded in Q1, while imports decelerated to a mild 0.8% expansion in the second quarter (Q1: +1.2% qoq). Consequently, the external sector's net contribution to overall economic growth swung from a 1.0-point detraction in the first quarter to a 0.9-point contribution in the second.
Economy contracts on depressed domestic sector
August 29, 2012
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Denmark Economic News
October 21, 2016
The mood among Danish consumers turned more pessimistic and fell to the lowest level in over three years in October, as the consumer confidence indicator produced by Statistics Denmark (DST) fell from September’s 1.8 points to 1.2 points. October’s drop reflected that consumers were more downbeat about Denmark’s economic outlook in one year than they were in September and that their families’ financial situation had deteriorated compared to a year ago.
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.