Denmark Economic Outlook
December 20, 2019Growth moderated in the third quarter, mainly due to a steeper fall in fixed investment, while exports also eased markedly. Private consumption, however, rebounded robustly in Q3 due to strong wage growth. Turning to the fourth quarter, the economy likely remains soft. Consumer and business confidence remained depressed in November and industrial production eased to a fourteen-month low in October. Furthermore, on the external front, merchandise exports contracted for the first time in three months in October amid muted growth in the Euro area. In contrast, retail sales perked up in October, which, coupled with ultra-low interest rates, should be fueling household spending. Moreover, the manufacturing PMI hit a seven-month high in November.
Denmark Economic GrowthMomentum is expected to soften significantly in 2020, as slightly weak economic growth in the Euro area will likely weigh on exports. Nevertheless, fundamentals remain solid and stronger domestic demand due to a healthy labor market, elevated house prices and a looser fiscal stance, will buttress the economy. FocusEconomics analysts expect growth of 1.4% in 2020, which is unchanged from last month’s forecast, and 1.5% in 2021.
Denmark Economy Data
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|Bond Yield||-0.15||-1.54 %||Jan 01|
|Exchange Rate||6.66||-0.57 %||Jan 01|
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Denmark Economic News
January 10, 2020
Consumer prices fell 0.2% in month-on-month terms in December, matching November’s print.
January 7, 2020
Business confidence among firms in the industrial sector slipped to minus 7 in December from minus 6 points in November, according to a survey conducted by Denmark’s Statistical Institute.
December 20, 2019
The consumer confidence index released by Statistics Denmark increased to 2.5 in December from 1.4 in November.
December 11, 2019
Consumer prices fell 0.2% in month-on-month terms in November, contrasting October’s 0.4% increase.
November 29, 2019
The economy grew 0.3% in seasonally-adjusted quarter-on-quarter terms in Q3 2019, easing from the 1.1% expansion registered in the second quarter (previously reported: +0.9% quarter-on-quarter), according to Statistics Denmark’s second GDP estimate.