Nice street in Denmark

Denmark GDP Q2 2022

Denmark: The economy rebounds in Q2 2022, avoiding a technical recession

Economic activity partly recovered from the spread of the Omicron variant and returned to growth in the second quarter of 2022, with GDP expanding 0.7% in seasonally-adjusted quarter-on-quarter terms, according to a preliminary release. The result, which surprised analysts on the upside, was an improvement from the prior quarter’s 0.5% decline, therefore averting a technical recession. Meanwhile, growth softened to 4.4% on an annual basis, down from the first quarter’s 6.2% increase.

The quarterly improvement was largely a result of the removal of Covid-19 restrictions imposed in January to contain the spread of the Omicron variant. Consequently, activity in the service industry, including hotels and restaurants, was able to recover. Positive developments were also recorded in most other industries, including public sector spending. Lastly, the employment indicator increased 0.7% in Q2, which should have provided some support to household spending against a backdrop of increasing interest rates and mounting price pressures.

A more comprehensive release will be published on 31 August.

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