In the fourth quarter, GDP contracted a revised 0.1% in seasonally adjusted terms over the previous quarter, mirroring the 0.1% decline seen in the third quarter. According to the revised data, the economy entered into a technical recession in the final quarter of 2011, dashing hopes of an economic recovery. On an annual basis, however, the economy grew a revised 0.4% (previously reported: 0.7% year-on-year), faster than Q3's 0.1% expansion. For the full year 2011, the economy grew 1.0%, slower than the 1.3% expansion recorded in 2010. The contraction in Q4 was attributable to weaker than initially reported domestic demand and decreasing inventories. Private consumption swung from a 0.4% contraction in the third quarter to a 1.0% expansion in the fourth (previously reported: 1.3% quarter-on-quarter). Gross fixed investment, however, contracted 0.4% over the previous quarter, contrasting the 1.6% increase seen in the July-September period. The external sector improved somewhat as exports outpaced imports. Exports of goods and services rose 0.2%, slower than the 0.4% increase in the previous quarter, while imports swung from a 0.8% increase in the third quarter to a 1.2% contraction in the fourth. On 21 March, the Central Bank revised its economic growth forecast for this year from 1.1% to 1.2%. For 2013, the Bank expects the economy to expand 1.6%. The Finance Ministry, however, expects GDP to expand 1.0% this year and 1.4% the next, according to its latest forecast in December.
Revised figures see Denmark tip into technical recession
March 30, 2012
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Denmark Economic News
October 10, 2016
In September, consumer prices were unchanged over the previous month, which contrasted August’s 0.3% month-on-month 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.