Denmark Economic Forecast

Denmark Economic Outlook

June 26, 2018

Comprehensive data confirmed that the economy lost steam in the first quarter of 2018. Quarter-on-quarter economic growth decelerated, dragged down by a slowdown in private consumption, a contraction in fixed investment and a poor performance by the external sector. Nevertheless, it is worth noting the deceleration largely reflected an unfavorable base effect following strong growth in the previous quarter, rather than a deterioration of the economy’s health. In April, industrial production rebounded after contracting in March and the labor market strengthened further, with the unemployment rate declining. Survey-based data is equally positive: Business sentiment recorded its best reading so far this year in May and consumer confidence reached a multi-year high in June.

Denmark Economic Growth

The domestic economy is expected to be the main engine of growth this year and next. Low unemployment and higher wages are expected to support an expansion in private consumption, while buoyant activity in the construction sector will propel fixed investment. FocusEconomics panelists expect GDP to increase 1.7% in 2018, unchanged from last month’s estimate. For 2019, the panel projects growth of 1.9%.

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Denmark Facts

Bond Yield0.33-1.54 %Jul 17
Exchange Rate6.39-0.57 %Jul 17
Stock Market1,006-0.39 %Jul 17

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