Denmark GDP

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Denmark: Economic growth decelerates in Q2

August 31, 2015

In the second quarter, the economy expanded a seasonally-adjusted 0.2% over the previous quarter, according to data released by Statistics Denmark (DST) on 31 August. The reading was down from the 0.5% expansion tallied in the previous quarter and met market expectations. In annual terms, GDP rose 2.0%, which marked an acceleration over the 1.5% increase seen in Q1.

In Q2, private consumption swung from a 0.6% increase in Q1 to a 0.4% contraction, thus recording the steepest decrease since Q2 2013. In addition, in the second quarter, government consumption contracted 0.2% (Q1: +1.2% quarter-on-quarter). Conversely, fixed investment recovered and expanded 0.8%, which contrasted the 3.1% drop seen in Q1.

On the external side of the economy, exports of goods and services contracted 2.2% over the previous quarter, which contrasted the 1.8% increase seen in Q1. Moreover, imports dropped 3.4%, which was a deterioration over the 0.2% decrease seen in Q1. As a result, the external sector’s net contribution to overall economic growth decreased slightly from 1.0 percentage points in Q1 to 0.8 percentage points in Q2.

The Central Bank estimates growth of 1.7% in 2015 and 2.0% in 2016. FocusEconomics Consensus Forecast panelists foresee economic growth of 1.6% in 2015, which is unchanged from last month’s forecast. For 2016, panelists expect an expansion of 1.9%.


Author:, Senior Economist

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Denmark GDP Q2 2015

Note: Quarter-on quarter changes of seasonally-adjusted GDP and year-on-year variation in %.
Source: Statistics Denmark (DST) and FocusEconomics Consensus Forecast


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