Denmark GDP Q4 2015


Denmark: Economy avoids technical recession in Q4

February 29, 2016

In the fourth quarter, the economy expanded a seasonally-adjusted 0.2% over the previous quarter, according to data released by Statistics Denmark (DST) on 29 February. The reading contrasted the 0.5% contraction tallied in the previous quarter. In annual terms, GDP rose 0.5%, which marked a slight deceleration over the 0.6% increase seen in Q3.

In Q4, private consumption contracted 0.1%, which contrasted the 1.0% growth observed in the third quarter. On the other hand, fixed investment rebounded from a 1.3% decrease in Q3 to a 0.9% expansion in Q4. Moreover government consumption contracted 0.2% in Q4, which was a slight improvement over the 0.3% contraction observed in the previous quarter.

On the external side of the economy, exports of goods and services expanded 0.1% over the previous quarter, which contrasted the 1.4% drop seen in Q3. Conversely, imports dropped 0.2%, which was a deterioration over the 0.4% increase tallied in the previous quarter. As a result, the external sector’s net contribution to overall economic growth increased from minus 0.9 percentage points in Q3 to plus 0.2 percentage points in Q4.

The Central Bank expects GDP to grow 1.8% in 2015 and 2.1% in 2016. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.7% this year, which is unchanged from last month’s estimate. Next year, the panel sees the economy accelerating to 2.0%, which is up 0.1 percentage points from last month’s forecast.

Author:, Senior Economist

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Denmark GDP Chart

Denmark GDP Q4 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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