Denmark Economic Outlook
November 21, 2017Recent data shows that industrial output rebounded in annual terms in September, following two months of contractions. Exports accelerated in the month, growing at a double-digit annual pace. While upturns in the industrial, external and retail sectors at the end of Q3 are likely to have translated into higher growth, Q3 growth is unlikely to have bounced back to the level seen in Q1 following a marked slowdown in Q2. Survey data from October suggests upbeat economic prospects in the final quarter. Consumer confidence remained strong, and business confidence moved into optimistic territory. A booming housing market, propped up by decade-long negative interest rates enacted by an ultra-loose monetary policy, and healthy real wage growth have kept the domestic economy sturdy. On 13 November, the government and rival parties agreed to simplify the country’s tax system in a bid to boost investment. The measures are expected to be fully implemented by 2022.
Denmark Economic GrowthGrowth is expected to moderate next year as the government pursues a tighter fiscal policy stance. The move to limit stimulus comes amid risks of overheating as the housing market continues to expand unabated. It remains to be seen whether overheating will be curbed by the recently introduced changes to lending criteria. Moreover, a stronger krone stemming from an appreciating euro—as the Central Bank maintains a fixed exchange rate policy vis-à-vis the euro—is expected to weigh on export competitiveness. FocusEconomics panelists expect GDP to expand 2.0% in 2018, up 0.1 percentage points from last month’s estimate. For 2019, the panel projects growth of 1.9%.
Denmark Economy Data
5 years of Denmark economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.38||-1.54 %||Dec 06|
|Exchange Rate||6.31||-0.57 %||Dec 06|
|Stock Market||997||-0.39 %||Dec 06|
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Denmark Economic News
November 30, 2017
A preliminary estimate released by Statistics Denmark showed that the economy’s third quarter performance markedly undershot market expectations.
November 29, 2017
According to the business survey conducted by Statistics Denmark, business confidence in November mirrored October’s reading, coming in at two points.
November 22, 2017
The consumer confidence index released by Statistics Denmark bounced back to 7.6 points in November, up from 7.1 points in October, following three consecutive months of declines.
November 10, 2017
Consumer prices increased 0.1% over the previous month in October, mirroring September’s month-on-month rise.
October 30, 2017
According to the business survey conducted by Denmark Statistics, Danish manufacturers’ confidence edged up to two points in October after remaining at the zero-point threshold for two months running.