Denmark GDP Q1 2019


Denmark: Flash estimate suggests economic growth ebbed in Q1

May 15, 2019

GDP grew 0.3% in seasonally-adjusted quarter-on-quarter terms in Q1 2019, down from the 0.8% increase registered in the fourth quarter last year, according to a flash estimate released on 15 May. However, given that Statistics Denmark estimates uncertainty regarding Q1’s final print to be at least plus or minus 0.5 percentage points, the preliminary reading should be taken with a pinch of salt. In year-on-year terms, the economy grew 2.2% in Q1, down from Q4’s 2.6% expansion.

The services sector was an important contributor to growth in the quarter. Moreover, both public and private sector employment grew at a moderate pace in the first quarter, while confidence indicators for the services sector were in positive territory. Although a breakdown by expenditure has yet to be released, mild retail sales growth and slightly stronger inflationary pressures point to fairly muted private consumption.

Comprehensive Q1 data will be published on 29 May.

The Central Bank expects the economy to grow 1.7% in both 2019 and 2020. FocusEconomics Consensus Forecast panelists, meanwhile, see growth reaching 1.7% in 2019, which is down 0.1 percentage points from the previous month’s forecast, and 1.6% in 2020. A new FocusEconomics Consensus Forecast will be published on 28 May.

Author:, Economist

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Denmark GDP Chart

Denmark GDP Q1 2019

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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