Denmark Economic Outlook
September 25, 2018The economy lost some steam in the second quarter from Q1’s downwardly-revised, already-modest performance, largely due to a deceleration of private consumption growth coupled with a slight contraction of exports and government spending. This was despite strong consumer confidence and near decade-low unemployment in the quarter. More positively, fixed investment recorded robust growth in Q2—even when excluding large, likely one-off, ship purchases. Looking to the third quarter, business confidence remained positively anchored in August, suggesting that the strong investment performance will continue in Q3. In addition, after weak readings throughout Q2, the manufacturing PMI increased sharply in July and again in August, indicating a large rebound of manufacturing activity that will likely buttress higher investment. At the end of August, the government presented a fiscally cautious draft 2019 budget, which set aside money to deal with potential Brexit fallout.
Denmark Economic GrowthPrivate consumption, supported by a healthy labor market and low inflation, should continue driving growth going forward. A rapidly degrading trade environment and the uncertain fate of the UK—one of Denmark’s largest trading partners—under Brexit pose downside risks. FocusEconomics panelists expect GDP to increase 1.2% in 2018. For 2019, the panel projects growth of 1.9%, unchanged from last month’s estimate.
Denmark Economy Data
5 years of Denmark economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.45||-1.54 %||Oct 12|
|Exchange Rate||6.45||-0.57 %||Oct 12|
|Stock Market||895||-0.39 %||Oct 12|
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Denmark Economic News
October 10, 2018
Consumer prices fell 0.3% over the previous month in September, following August’s 0.4% dip.
September 27, 2018
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector deteriorated in September.
September 20, 2018
The consumer confidence index released by Statistics Denmark dropped from 7.8 points in August to 6.9 points in September, the lowest level since December 2017.
September 10, 2018
Consumer prices fell 0.4% month-on-month in August, contrasting July’s 0.8% increase.
August 31, 2018
According to the latest national accounts data released on 31 August by Statistics Denmark, the economy lost steam during the second quarter, after registering a weak growth print in Q1 due to a high base effect.