Current Account in Denmark
Denmark - Current AccountA strong performance in the external sector drove a solid GDP result in the third quarter. However, although export growth recovered in the quarter, the positive contribution to headline growth was largely due to a sharp fall in imports. The domestic economy meanwhile suffered from a marked contraction in fixed investment mostly due to a one-off effect caused by important ship purchases in the prior quarter, while private consumption was lackluster. Data for the fourth quarter has thus far been mixed. The manufacturing PMI receded in November, primarily due to slower growth in new orders and production, but remained in expansionary territory nonetheless, while industrial production growth moderated in October. Economic sentiment has been more downbeat in the quarter, with consumer confidence falling for the fifth consecutive month in November and business confidence remaining pessimistic. On the other hand, wage growth has been robust in most sectors and should feed through to stronger household spending, while a rebound in merchandise exports in October bodes well for the external economy.
Denmark - Current Account Data
|Current Account (% of GDP)||7.9||8.6||8.8||7.3||7.8|
5 years of economic forecasts for more than 30 economic indicators.
Denmark Current Account Chart
Source: Statistics Denmark (DST) and FocusEconomics calculations.
|Bond Yield||0.17||-1.54 %||Jan 16|
|Exchange Rate||6.55||-0.57 %||Jan 16|
|Stock Market||924||-0.39 %||Jan 16|
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January 10, 2019
According to Statistics Denmark, consumer prices fell 0.3% over the prior month in December, matching November’s dip.
January 4, 2019
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector fell to minus 5 points in December from a revised 0 points in November (previously reported: -1 point), dropping below the zero-point threshold that separates optimism from pessimism in the sector. The tumble in industrial business sentiment was primarily driven by declining new orders.
December 21, 2018
The consumer confidence index released by Statistics Denmark toppled to 2.9 points in December from 4.3 points in November, the lowest level since December 2016.
December 10, 2018
Consumer prices fell 0.3% over the prior month in November, contrasting the 0.3% increase logged in October.
November 30, 2018
According to the latest national accounts data released on 30 November by Statistics Denmark, the economy gained traction in the third quarter, after registering weak growth in the first two quarters of the year.