GDP in Denmark
Denmark - GDP
Growth steadies in Q2 but domestic demand disappoints again
The Danish economy clocked another solid performance in the second quarter of this year, growing at the same quarter-on-quarter pace of 0.6% seen in the first quarter. The reading was supported by a rebound in fixed investment, which was enough to offset a slowdown in government consumption growth and flat private consumption. In annual terms, however, GDP growth slowed to 2.7% from the previous quarter’s 3.5%.
Private consumption was flat quarter-on-quarter in Q2 (Q1: +0.8% quarter-on-quarter). A rebound in retail sales, likely supported by declining unemployment and falling inflation, did not spur consumer spending. Fixed investment recorded a 1.7% increase in Q2, in contrast to Q1’s 2.1% contraction, on the back of large ship investments. Government consumption, however, halved from Q1’s 0.8% growth to a 0.4% increase in Q2.
The external sector performed fairly poorly in the second quarter. Although exports expanded 0.8% in quarterly terms (Q1: -0.9% qoq), imports increased a faster 1.8% qoq (Q1: -1.6% qoq). As a result, the net contribution of the external sector was negative in Q2.
Enhanced momentum in the Eurozone and increased global trade volumes will likely boost growth in the Danish economy, though domestic demand is set to remain sluggish.
The Central Bank expects GDP to grow 1.6% in both 2017 and 2018. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.9% in 2017, which is unchanged from last month’s estimate. In 2018, the panel sees growth at 1.7%.
Denmark - GDP Data
| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 0.2 | 0.9 | 1.7 | 1.6 | 1.7 |
Denmark GDP Chart
Source: Statistics Denmark (DST) and FocusEconomics calculations.
Denmark Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.54 | 1.85 % | Sep 21 |
| Exchange Rate | 6.23 | -0.42 % | Sep 21 |
| Stock Market | 1,024 | 0.33 % | Sep 21 |
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Economic News
Denmark: Inflation steadies at over four-year high in August
September 11, 2017
Consumer prices fell 0.3% in August in monthly terms, contrasting the previous month’s 0.8% increase and marking the lowest level in a year.
Denmark: Growth steadies in Q2 but domestic demand disappoints again
August 31, 2017
The Danish economy clocked another solid performance in the second quarter of this year, growing at the same quarter-on-quarter pace of 0.6% seen in the first quarter.
Denmark: Business confidence falls to neutral territory in August
August 30, 2017
Business confidence among Danish manufactures decreased to the neutral zero-point mark in August, indicating that manufacturers are neither optimistic nor pessimistic about the future, after two months of increasing optimism (July: +6.0 points month-on-month).
Denmark: Consumer confidence drops in August
August 23, 2017
Following the jump in the previous month, the consumer confidence index released by Statistics Denmark came in at 7.6 points in August, which is significantly below the prior month’s 10.5points.
Denmark: Inflation jumps to over-four-year high in July
August 10, 2017
Consumer prices increased 0.8% in July in month-on-month terms, contrasting the previous month’s 0.1% decrease and marking the highest reading in five months.
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