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Denmark GDP Q4 2021

Denmark: Growth remains robust in Q4

Economic activity fared well in the final quarter of 2021, according to a preliminary release. The economy continued to expand, with GDP growing 1.1% in seasonally-adjusted quarter-on-quarter terms, matching the expansion recorded the previous quarter. Meanwhile, on an annual basis, growth accelerated to 3.9% in Q4, up from the previous period’s 3.6% increase. As a result, a preliminary estimate reveals the economy expanded 3.9% in 2021 as a whole.

The quarterly result was largely due to growth in the industrial sector. Moreover, government spending growth also contributed to the reading, bolstered by spending on the health care system and in response to Covid-19. Furthermore, private consumption likely expanded robustly in Q4, as the employment indicator pointed to a 1.2% increase in total employment in the quarter.

A more detailed release will be published on 28 February.

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