Denmark Economic Outlook
March 3, 2020Economic growth eased in the fourth quarter of last year. A slight fall in exports led the deceleration, although faster private consumption growth and rebounding fixed investment cushioned the slowdown. Shifting focus to the first quarter of this year, the economy appears to be gaining some momentum on the back of resilient household spending. In January, retail sales grew significantly and the labor market remained rock solid for the 15th consecutive month, while consumer confidence averaged higher in January–February than in Q4. That said, fears linked to the coronavirus outbreak could hit confidence in March. Meanwhile, the manufacturing PMI rose higher in January and business confidence recovered notably through to February, which should be supporting investment.
Denmark Economic GrowthGrowth is seen slowing this year, as weak economic growth in the Eurozone will likely drag on exports and thus keep fixed investment soft. Nevertheless, stronger domestic demand due to an extremely tight labor market and gains in house prices should support economic activity. FocusEconomics analysts see growth of 1.5% in 2020, which is unchanged from last month’s forecast, and 1.5% again in 2021.
Denmark Economy Data
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|Bond Yield||-0.15||-1.54 %||Jan 01|
|Exchange Rate||6.66||-0.57 %||Jan 01|
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Denmark Economic News
March 23, 2020
The consumer confidence index released by Statistics Denmark fell to 0.4 in March from 3.3 in February.
March 20, 2020
In recent days, the government has approved fiscal stimulus measures worth approximately DKK 286.7 billion (USD 38.4 billion) to combat the effects of the coronavirus (Covid-19) pandemic and the containment measures imposed to slow its transmission.
March 10, 2020
Consumer prices increased 0.6% in month-on-month terms in February, up from January’s 0.1% rise.
February 28, 2020
The economy grew 0.2% in seasonally-adjusted quarter-on-quarter terms in Q4 2019, easing from the 0.5% expansion registered in the third quarter (previously reported: +0.3% quarter-on-quarter), according to Statistics Denmark’s first GDP estimate.
February 27, 2020
Business confidence among firms in the industrial sector picked up to minus 4 in February from minus 9 points in January, according to a survey conducted by Denmark’s Statistical Institute.