In the third quarter, GDP expanded 0.1% in seasonally adjusted terms over the previous quarter according to preliminary estimates. The increase contrasted the revised 0.7% contraction seen in the second quarter (previously reported: -0.4% quarter-on-quarter) but undershot market expectations of a 0.3% expansion. On an annual basis, the economy contracted 0.5% in Q3, up from the 1.0% decline registered in the second quarter. Revised data will be published on 21 December. The expansion in Q3 came on the back of a rebound in fixed investment, which offset a negative contribution from the external sector. Gross fixed investment expanded 2.2% over the previous quarter, contrasting the 2.5% contraction observed in the April-June period. On a negative note, private consumption dropped 0.1%, contrasting the 0.2% expansion in the previous quarter, while government consumption increased 0.2% over the previous quarter, down from the 0.5% expansion recorded in Q2. The external sector deteriorated as imports outpaced exports. Exports of goods and services contracted 0.8%, contrasting the 2.4% expansion recorded in Q2, while imports decelerated to a mild 0.3% increase in the third quarter (Q2: +0.9% qoq). Consequently, the external sector's net contribution to overall economic growth swung from a 0.9 percentage-point contribution in the second quarter to a 0.6 percentage-point detraction in the third.
Economy rebounds less than expected
November 30, 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.