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 deteriorates to fresh record low in June
June 22, 2022
Consumer sentiment fell further in June, dropping to a fresh record low of minus 24.8, down from May’s minus 22.4.
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Denmark: Manufacturing production growth moderates in April
June 7, 2022
Manufacturing output rose 1.1% in month-on-month seasonally-adjusted terms in April, which was a deterioration from March's 4.6% increase.
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Denmark: GDP records marginal contraction in the first quarter
May 31, 2022
A second national accounts release confirmed that momentum was set back in the first three months of the year: GDP contracted 0.1% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, below the 3.0% expansion logged in the fourth quarter of last year.
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Denmark: Business sentiment deteriorates to 17-month low in May
May 30, 2022
Business sentiment came in at minus 3.0 in May, down from April's 4.0.
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Denmark: Consumer confidence falls to fresh record low in May
May 20, 2022
Consumer confidence deteriorated to minus 22.4 in May from April's minus 20.9.
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