Nice street in Denmark

Denmark GDP Q4 2022

Denmark: Economy expands robustly in Q4; beats expectations of a marginal decline

The Danish economy smashed expectations for a second consecutive quarter at the close of 2022. GDP expanded 1.1% in seasonally adjusted quarter-on-quarter terms in Q4, according to a preliminary release. The result, which came in markedly above the prior quarter’s 0.3% growth, was the strongest in a year. It was also among the best in the Euro area. Conversely, year on year growth nearly halved to 1.7% from the prior quarter’s 3.2% increase. The result brought overall economic growth for 2022 to 3.4%, down from 2021’s rebound of 4.9%.

While detailed information is not yet available, the quarterly acceleration was chiefly driven by a strong performance from industry, especially the pharmaceutical sector. Additionally, continued improvement in transport and in culture and leisure contributed to growth. These more than offset declines and flat readings in other industries, such as trade and financing and insurance. Lastly, the employment indicator posted a 0.3% increase, which should have shielded consumers from elevated price pressures somewhat.

A more comprehensive release will be published on 28 February.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest