Denmark Economic Outlook
May 31, 2022
The economy was set back at the outset of 2022, with GDP recording a marginal decline in sequential terms. The slowdown was largely attributable to sharp moderations in government spending and private consumption, due to a statistical effect and rising price pressures. That said, the scrapping of Covid-19 restrictions towards the end of Q1 should have supported activity somewhat. Moving to the second quarter, momentum is seemingly further being dampened by constrained household spending. Inflation hit its highest value in nearly four decades in April, while consumer sentiment tumbled to its lowest levels on record in April and May due to heightened global uncertainty. That said, the ongoing tightening of the labor market through March should be providing some support. In politics, in early May a cabinet reshuffle took place for the second time since the government took office in 2019.Denmark Economic Growth
Economic growth will nearly halve this year, largely due to a normalization of conditions and a moderation in domestic demand, following 2021’s recovery. That said, high inflation and strong wage growth will pull private consumption in opposite directions. Elevated household debt levels and geopolitical tensions further cloud the outlook. FocusEconomics analysts see the economy growing 2.9% in 2022, which is up 0.2 percentage points from last month’s projection, and 1.8% in 2023.Denmark Economy Data
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Denmark Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.15 | -1.54 % | Jan 01 |
| Exchange Rate | 6.66 | -0.57 % | Jan 01 |
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Denmark Economic News
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Denmark: Consumer sentiment dives to fresh record low in September
September 22, 2022
Consumer sentiment plunged to a new record low of minus 32.1 in September, down from the prior month’s minus 25.1.
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Denmark: Inflation comes in at highest level in nearly four decades in August
September 12, 2022
Inflation edged up to 8.9% in August, slightly above July’s 8.7%.
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Denmark: Manufacturing production dips in July
September 7, 2022
Manufacturing production slid 2.6% month-on-month in seasonally-adjusted terms in July (June: +0.6% mom).
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Denmark: GDP posts stronger-than-anticipated expansion in Q2
August 31, 2022
A second national accounts release confirmed that the economy rebounded in the second quarter of 2022 and avoided a technical recession, thanks to the removal of Omicron-related Covid-19 restrictions.
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Denmark: Business confidence improves but remains in negative territory in August
August 30, 2022
Business sentiment came in at a four-month high of minus 1.0 in August, up notably from July's minus 9.0.
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