GDP in Denmark
Denmark - GDP
Second estimate confirms economic growth eased in the third quarter
The economy grew 0.3% in seasonally-adjusted quarter-on-quarter terms in Q3 2019, easing from the 1.1% expansion registered in the second quarter (previously reported: +0.9% quarter-on-quarter), according to Statistics Denmark’s second GDP estimate. Meanwhile, in year-on-year terms, the economy grew 2.2% in Q3 (previously reported: +2.1%), up slightly from Q2’s downwardly revised 2.0% expansion (previously reported: +2.6% year-on-year).
The weaker outturn in the third quarter was mainly owing to a 2.8% decrease in gross fixed capital formation in seasonally-adjusted quarter-on-quarter terms (Q2: -0.9% qoq). Meanwhile, private consumption growth was stable at 0.3% in Q3, while government consumption was flat after declining 0.1% in Q2.
On the external front, exports of goods and services slumped from 4.8% in Q2 to 1.2% in the third quarter. Meanwhile, imports of goods and services increased 0.3%, down from the second quarter’s 1.3% expansion.
Looking ahead, economic growth should slow next year as fragile global and regional demand is expected to weigh on export growth. However, domestic demand should support growth as a tight labor market and robust wage growth seem set to stoke household spending and credit growth. Furthermore, the recent increase in housing prices will likely support construction investment.
The Central Bank expects the economy to grow 1.5% in both 2020 and 2021. FocusEconomics Consensus Forecast panelists, meanwhile, see growth of 1.4% in 2020, which is unchanged from the previous month’s forecast, and 1.5% in 2021.
Denmark - GDP Data
|Economic Growth (GDP, annual variation in %)||1.6||2.3||2.4||2.3||1.5|
5 years of economic forecasts for more than 30 economic indicators.
Denmark GDP Chart
Source: Statistics Denmark (DST) and FocusEconomics calculations.
|Bond Yield||-0.15||-1.54 %||Jan 01|
|Exchange Rate||6.66||-0.57 %||Jan 01|
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January 30, 2020
Business confidence among firms in the industrial sector fell to minus 9 in January from minus 7 points in December, according to a survey conducted by Denmark’s Statistical Institute.
January 23, 2020
The consumer confidence index released by Statistics Denmark increased to 4.5 in January from 2.5 in December.
January 10, 2020
Consumer prices fell 0.2% in month-on-month terms in December, matching November’s print.
January 7, 2020
Business confidence among firms in the industrial sector slipped to minus 7 in December from minus 6 points in November, according to a survey conducted by Denmark’s Statistical Institute.
December 20, 2019
The consumer confidence index released by Statistics Denmark increased to 2.5 in December from 1.4 in November.