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: Manufacturing activity posts quickest growth since October 2016 in December
February 8, 2023
Manufacturing output spiked 15.3% month on month in seasonally adjusted terms in December (November: +2.3% mom).
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Denmark: Business sentiment rises in January, but remains in negative territory
January 24, 2023
Business confidence rose to minus 16.0 in January from December's minus 17.0.
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Denmark: Consumer sentiment continues to improve in January; remains deeply pessimistic
January 23, 2023
Consumer sentiment came in at minus 26.1 in January, improving from the prior month’s minus 28.9.
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Denmark: Inflation plunges to lowest level since July in December
January 10, 2023
Inflation came in at 8.7% in December, which was down from November’s 8.9%.
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Denmark: Manufacturing production bounces back in November
January 10, 2023
Manufacturing output grew 2.4% month-on-month in seasonally-adjusted terms in November (October: -2.7% mom).
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