In the first quarter, GDP expanded 0.4% in seasonally adjusted terms over the previous quarter, which was up from the previously estimated 0.3% rise and exceeded market expectations that had GDP unrevised. The quarterly reading contrasted the 0.4% decline seen in the last quarter of 2011. On an annual basis, the economy grew 0.3% (previously estimated: +0.2% year-on-year), above the 0.1% rise registered in the fourth quarter. Economic growth in the first quarter was fuelled by a strong expansion in fixed investment, which rebounded from a 0.9% contraction in the fourth quarter to a 3.9% rise in the first (previously estimated: +2.3% quarter-on-quarter). In addition, private consumption grew 0.3% over the previous quarter, which was unrevised from the previous estimate but below the 1.2% expansion tallied in Q4. The external sector's contribution to economic growth deteriorated markedly as exports of goods and services contracted 0.6% in the first quarter (previously estimated: +0.3% qoq). Imports, on the other hand, expanded 1.3% (previously estimated: +2.0% qoq). As a result, the external sector's net contribution to overall economic growth swung from a 0.7 points contribution in the fourth quarter to a 1.1 points detraction in the first.
First quarter economic growth revised upwards
June 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.