GDP in Denmark
Denmark - GDP
Revised data confirms mild acceleration in Q3
In Q3, the Danish economy grew a seasonally-adjusted 0.4% over the previous quarter, according to revised data released by Statistics Denmark (DST) on 22 December. The reading matched the preliminary estimate and came in above the 0.3% expansion in Q2. Denmark’s economy has been broadly stable this year, with healthy domestic demand thanks to fiscal and monetary stimulus offsetting sluggish external demand. In Q3, a jump in government consumption and a timid pick-up in fixed investment were behind the moderate acceleration. In annual terms, GDP rose a revised 1.2% (previously reported: +1.1% year-on-year), which also marked a pick-up from the 0.9% increase seen in Q2 and was the best performance in four quarters.
Private consumption decreased 0.1% in Q3 (previously reported: +0.1% qoq), down from Q2’s 0.2% increase and the worst result in 10 quarters. By contrast, growth in public consumption strengthened from Q2’s 0.6% expansion to an over five-year high of 1.4% growth in Q3. Fixed investment expanded mildly in Q3, inching up to 0.2% from Q2’s 0.1% increase (previously reported: Q3: -0.1% qoq, Q2: -0.3% qoq).
On the external side of the economy, exports of goods and services grew 0.7% (previously reported: 0.0%), which followed the 0.9% increase seen in Q2. Imports grew a robust 1.6% in Q3 (previously reported: +0.8%), accelerating from the flat result in Q2. As a result, the external sector’s net contribution to overall economic growth swung from plus 0.4 percentage points in Q2 to minus 0.6 percentage points in Q3, the lowest result in over two years.
The Central Bank expects GDP to grow 1.4% in 2017 and 1.5% in 2018. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.5% in 2017, which is down 0.1 percentage points from last month’s estimate. In 2018, the panel sees the economy accelerating to 1.7%.
Denmark - GDP Data
|Economic Growth (GDP, annual variation in %)||1.3||0.2||0.9||1.7||1.6|
5 years of economic forecasts for more than 30 economic indicators.
Denmark GDP Chart
Source: Statistics Denmark (DST) and FocusEconomics calculations.
|Bond Yield||0.69||0.21 %||May 24|
|Exchange Rate||6.63||-0.34 %||May 24|
|Stock Market||988||-0.03 %||May 24|
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May 19, 2017
The consumer confidence index came in at 5.8 points in May (April: 7.4 points) after four months of increasing optimism among Danish consumers. Consumers’ view of the performance of the economy over the last 12 months and the outlook of the economy over the next 12 months was less optimistic.
May 10, 2017
Consumer prices rose 0.2% in April compared to the prior month, up from March’s 0.1% increase.
April 27, 2017
The business confidence indicator for manufacturing developed by Statistics Denmark (DST) came in at plus 1 point in April, which was above March’s minus 1 point.
April 20, 2017
Danish consumers were more upbeat in April as their outlook on the economy improved markedly.
April 10, 2017
Consumer prices rose 0.1% in March compared to the prior month, down from February’s 0.8% increase.