Denmark GDP


Revised figures show no growth in Q1

In the first quarter, GDP was unchanged in seasonally adjusted terms over the previous quarter according to revised estimates. The reading marks a worsening compared to the advance estimate published on 30 May. Nevertheless, the figure marks an improvement over the 0.6% contraction in Q4 2012.

The revision in the first quarter came on the back of a further contraction in government consumption, which dropped 2.9% over the previous quarter, down from the 2.1% contraction previously reported. Moreover, gross fixed investment contracted 1.5% over the previous quarter, which represents a deterioration relative to the 0.6% fall previously estimated. Private consumption, on the other hand, rose an unrevised 0.1%.

The external sector improved compared to the initial estimate. Exports of goods and services were flat in Q1 (previously reported: -0.6%). Meanwhile, imports were not revised, rising 1.6%. Consequently, the external sector's net contribution to overall economic growth improved from minus 1.1 percentage points to a revised minus 0.9 percentage points.

The government recently revised down its growth estimates and now expects the economy to expand 0.5% this year and 1.6% in 2014. The Central Bank has also revised its growth estimates to 0.5% this year and a 1.7% expansion in 2014. FocusEconomics Consensus Forecast panellists are more optimistic and expect economic growth to reach 0.8% in 2013, which is down 0.1 percentage points from last month's forecasts. For 2014, panellists expect an expansion of 1.5%.


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Denmark GDP Chart

Denmark GDP Q1 2013

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

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    October 10, 2016

    In September, consumer prices were flat on a monthly basis, which came in above August’s 0.3% decrease.

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  • Denmark: Economy slows in Q2

    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.

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  • Denmark: Business confidence weakens slightly in 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.

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  • Denmark: Pessimism rises among Danish consumers in September

    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.

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  • Denmark: Inflation moderates 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.

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