Denmark Economic Outlook
November 20, 2018
The economy performed well in the third quarter, with preliminary GDP data suggesting growth was driven by manufacturing—which supported stronger industrial production readings in the quarter—and construction. Moreover, low unemployment should have boosted private consumption. The final quarter began in mixed fashion: While the manufacturing PMI soared in October due to strong growth in production and new orders, consumer and business confidence both dimmed in the same month, which could soften consumer spending and investment. To address emerging labor shortages, in October the government announced a plan designed to attract employees from abroad. However, the plan failed to achieve sufficient parliamentary support, with parties objecting to the proposal of reducing the minimum wage requirement for foreign workers. As a result, difficulty attracting staff could restrain GDP growth going forward.Denmark Economic Growth
Healthy macroeconomic fundamentals will likely support growth in 2019. Household spending should be robust, buoyed by a solid labor market, faster wage growth and accommodative monetary conditions. External downside risks to the outlook include global trade protectionism and uncertainty surrounding Brexit negotiations. FocusEconomics panelists expect GDP to increase 1.9% in 2019, which is unchanged from last month’s estimate, and 1.6% in 2020.Denmark Economy Data
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Denmark Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.26 | -1.54 % | Dec 12 |
| Exchange Rate | 6.57 | -0.57 % | Dec 12 |
| Stock Market | 926 | -0.39 % | Dec 12 |
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Denmark Economic News
Denmark: Inflation stable in November
December 10, 2018
Consumer prices fell 0.3% over the prior month in November, contrasting the 0.3% increase logged in October.
Denmark: Second estimate confirms a solid Q3 GDP reading in the third quarter
November 30, 2018
According to the latest national accounts data released on 30 November by Statistics Denmark, the economy gained traction in the third quarter, after registering weak growth in the first two quarters of the year.
Denmark: Manufacturing firms remain pessimistic in November
November 29, 2018
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector ticked up to minus 1 point in November from minus 2 points in October, remaining below the zero-point threshold that separates optimism from pessimism in the sector. The slight improvement in industrial business sentiment was driven by firms’ greater confidence in the production outlook.
Denmark: Consumer confidence drops to near two-year low in November
November 22, 2018
The consumer confidence index released by Statistics Denmark fell to 4.3 points in November from 5.1 points in October, the lowest level since February 2017.
Denmark: Business confidence falls in October
October 30, 2018
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector dipped to a seven-month low in October.
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